Too often monetary economics has been taught as a collection of facts about institutions for students to memorize. By teaching from first principles instead, this advanced undergraduate textbook builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. Starting with the case in which trade is mutually beneficial, the book demonstrates that money makes people better off, and that government money competes against other means of payments, including other types of government money. After developing each of these topics, the book tackles the issue of money competing against other stores of value, examining issues associated with trade, finance, and modern banking. The book then moves from simple economies to modern economies, addressing the role banks play in making more trades possible, concluding with the information problems plaguing modern banking, which result in financial crises.

货币经济学通常是作为一个关于机构的事实的集合来教授的，供学生记忆。通过从第一原理开始教学，这本高级本科教材建立在一个简单、清晰的货币模型上，并一贯地将这个框架应用于各种各样的货币问题。在与其他类型的政府进行货币竞争的情况下，包括与其他类型的政府进行货币竞争，这是一种比较有利的方式。在发展了每一个主题之后，这本书讨论了货币与其他价值存储竞争的问题，研究了与贸易、金融和现代银行业相关的问题。然后，这本书从简单经济体转向现代经济体，论述了银行在使更多交易成为可能方面所起的作用，并以困扰现代银行业的信息问题为结论，这些问题导致了金融危机。