The Heart of Teaching Economics
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The Heart of Teaching Economics

Lessons from Leading Minds

Simon W. Bowmaker

This unique monograph comprises a collection of interviews conducted face-to-face with leading economists at universities throughout the United States. Presented with the singular opportunity to reflect on and share their wisdom and experience, the 21 interviewees discuss how they interpret, understand and practice their role as teachers. In addition to providing lessons that will inform the way others teach, the interviews shatter the illusion that teaching and research are strictly independent and competing activities.
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Chapter 21: Money and Banking

Frederic Mishkin


Frederic Mishkin Frederic Mishkin was born in New York City in 1951 and graduated with a BS in economics and a PhD in economics from the Massachusetts Institute of Technology in 1973 and 1976 respectively. He taught at the University of Chicago between 1976 and 1983, before moving to Columbia University, where he has remained ever since, currently serving as the Alfred Lerner Professor of Banking and Financial Institutions at Columbia’s Graduate School of Business. He has also received an honorary professorship from the Peoples (Renmin) University of China. At Columbia, Professor Mishkin teaches an MBA course in Financial Markets and the Economy and a PhD course in Empirical Methods in Monetary Economics and Finance. Professor Mishkin’s research focuses on monetary policy and its impact on financial markets and the aggregate economy. His articles have appeared in the American Economic Review, Journal of Political Economy, Econometrica, Journal of Applied Econometrics and International Economic Review, among others. His books include, The Economics of Money, Banking and Financial Markets (Addison Wesley Longman, ninth edition, 2009), Monetary Policy Strategy (MIT Press, 2007), The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich (Princeton University Press, 2006), Inflation Targeting: 375 M2372 - BOWMAKER TEXT.indd 375 29/9/10 11:36:40 376 The heart of teaching economics Lessons from the International Experience (Princeton University Press, 1999), Money, Interest Rates, and Inflation (Edward Elgar Publishing, 1993) and A Rational Expectations Approach to Macroeconometrics: Testing Policy Ineffectiveness and Efficient Markets Models (University of...

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