Textbook Notes (369,074)
Canada (162,369)
ECON 302 (16)
Tom Velk (16)
Chapter 1

Chapter 1 Mishkin Summary.docx

3 Pages
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Department
Economics (Arts)
Course Code
ECON 302
Professor
Tom Velk

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Chapter 1 Mishkin Summary 09/27/2013 1. Activities in financial markets have direct effects on individuals’ wealth, the behavior of businesses,  and the efficiency of our economy. Three financial markets deserve particular attention: the bond  market (where interest rates are determined), the stock market (which has a major effect on people’s wealth and on firms’ investment decisions), and the foreign exchange  market (because fluctuations in the foreign exchange rate have major consequences for the American  economy). 2. Banks and other financial institutions channel funds from people who might not put them to  productive use to people who can do so and thus play 
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