Money in a theory of finance / by John G. Gurley and Edward S. Shaw

The present work is a theoretical study of finance that encompasses theory of money. the It discusses also the theory of financial institutions including banking theory etc. The work presents a systematic analysis of financial assets, institutions and policy generally. The analysis opens with a rudimentary economy but progresses step by step to increasingly complex financial structures. The purpos at each step is to see how financial and real markets react to pro duce equilibrium levels of real output and prices. The real emphasis all along is on the supply of and demand for money.

In discussing economic problems the authors have used general methods of equilibrium analysis throughout. They have discussed principles of economy in their proper economic perspective. They have, however, purposely avoided the use of cumbrous details of statistics. But the omission is compensated by Entho ven's Mathematical appendix which deals with a Neo-classical Model of money, Debt and Economic growth in the system of monetary economy. The work is intended for a professional economist and is a valuable contribution to the study of finance.