Financial Markets and Institutions takes a practical approach to the changing landscape of financial markets and institutions. The text uses core principles to introduce topics, then examines these models via real-world scenarios. Empirical applications of themes help you develop essential critical-thinking and problem-solving skills. The 10th Edition reflects major changes in the aftermath of the global financial and Covid crises. With timely new sections, cases and boxes, you'll have the latest, most relevant information to help prepare you for your future career.
PART 1: INTRODUCTION Why Study Financial Markets and Institutions? Overview of the Financial System PART 2: FUNDAMENTALS OF FINANCIAL MARKETS What Do Interest Rates Mean and What Is Their Role in Valuation? Why Do Interest Rates Change? How Do Risk and Term Structure Affect Interest Rates? Are Financial Markets Efficient? PART 3: FUNDAMENTALS OF FINANCIAL INSTITUTIONS Why Do Financial Institutions Exist? Why Do Financial Crises Occur and Why Are They So Damaging to the Economy? PART 4: CENTRAL BANKING AND THE CONDUCT OF MONETARY POLICY Central Banks and the Federal Reserve System Conduct of Monetary Policy PART 5: FINANCIAL MARKETS The Money Markets The Bond Market The Stock Market The Mortgage Markets The Foreign Exchange Market The International Financial System PART 6: THE FINANCIAL INSTITUTIONS INDUSTRY Banking and the Management of Financial Institutions Financial Regulation Banking Industry: Structure and Competition The Mutual Fund Industry Insurance Companies and Pension Funds Investment Banks, Security Brokers and Dealers, and Venture Capital Firms PART 7: THE MANAGEMENT OF FINANCIAL INSTITUTIONS Risk Management in Financial Institutions Hedging with Financial Derivatives CHAPTERS ON THE WEB Financial Crises in Emerging Market Economies W-1 Savings Associations and Credit Unions W-22 Finance Companies
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