Financial Markets and Institutions

Part I: Introduction 1. Why Study Financial Markets and Institutions? 2. Overview of the Financial System Part II: Fundamentals of Financial Markets 3. What Do Interest Rates Mean and What Is Their Role in Valuation? 4. Why Do Interest Rates Change? 5. How Do Risk and Term Structure Affect Interest Rates? 6. Are Financial Markets Efficient? Part III: Central Banking and the Conduct of Monetary Policy 7. Structure of Central Banks and the Federal Reserve System 8. Conduct of Monetary Policy: Tools, Goals, and Targets Part IV: Financial Markets 9. The Money Markets 10. The Bond Market 11. The Stock Market 12. The Mortgage Markets 13. The Foreign Exchange Market 14. The International Financial System Part V: Fundamentals of Financial Institutions 15. Why Do Financial Institutions Exist? 16. What Should Be Done About Conflicts of Interest in the Financial Industry? Part VI: The Financial Institutions Industry 17. Banking and the Management of Financial Institutions 18. Commercial Banking Industry: Structure and Competition 19. Savings Associations and Credit Unions 20. Banking Regulation 21. The Mutual Fund Industry 22. Insurance Companies and Pension Funds 23. Investment Banks, Security Brokers and Dealers, and Venture Capital Firms Part VII: The Management of Financial Institutions 24. Risk Management in Financial Institutions 25. Hedging with Financial Derivatives On the Web 26. Finance Companies