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
