Part I basic statements and analyses -- 1. The concept of nation -- 2. The theory of exchange -- 3. Equilibrium and disequilibrium -- 4. The demand for money -- 5. Money creation -- 6. The exchange rate -- 7. An overview of monetary systems and exchange rate regimes -- Part II the balance of...

Discussion of monetary policy tends to ignore entirely the behaviour of individuals and focuses instead on aggregate, or macro-economic, variables such as inflation, growth and employment.An expansion of the quantity of money that leads to inflation will reduce the real value of cash balances...