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Exploring the function of money as a medium of exchange and a store of value, this major work provides a comprehensive introduction to the pure theory of money and monetary policy.

Jurg Niehans considers his subject in both its microeconomic and macroeconomic aspects. The analysis thus extends from the individual demand for money to monetary policy and the art of central banking. Each chapter opens with a brief, nontechnical summary of its contents; expository material and up-to-date references to the literature are integrated in the discussion. While mathematics are used extensively, the...

A History of Economic Theory offers a comprehensive account of the builders and building blocks of modern mainstream economics. Jurg Niehans shows how the analytical tools used by economists have evolved from the 18th century to the present. Niehans first surveys the development of classical economics from the scholastic and mercantilist traditions to Marx. He then follows the progress of marginalist economics from Thunen to Fischer. In the book's final section, he describes economic theory in the model-building era from Pigou and Keynes to Rational Expectations.