Financial Markets

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Financial institutions are a pillar of civilized society, supporting people in their productive ventures and managing the economic risks they take on. The workings of these institutions are important to comprehend if we are to predict their actions today and their evolution in the coming information age. The course strives to offer understanding of the theory of finance and its relation to the history, strengths and imperfections of such institutions as banking, insurance, securities, futures, and other derivatives markets, and the future of these institutions over the next century.

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Cosa impari in questo corso?

Risk Management
Behavioral Finance
Finance and Insurance
Technology and Invention in Finance
Supporting Financial Institutions


Lecture 1 Finance and Insurance as Powerful Forces in Our Economy and Society

Lecture 2 The Universal Principle of Risk Management: Pooling and the Hedging of Risks

Lecture 3 Technology and Invention in Finance

Lecture 4 Portfolio Diversification and Supporting Financial Institutions (CAPM Model)

Lecture 5 Insurance: The Archetypal Risk Management Institution

Lecture 6 Efficient Markets vs. Excess Volatility

Lecture 7 Behavioral Finance: The Role of Psychology

Lecture 8 Human Foibles, Fraud, Manipulation, and Regulation

Lecture 9 Guest Lecture by David Swensen

Lecture 10 Debt Markets: Term Structure

Exam 1 Midterm Exam 1

Lecture 11 Stocks

Lecture 12 Real Estate Finance and Its Vulnerability to Crisis

Lecture 13 Banking: Successes and Failures

Lecture 14 Guest Lecture by Andrew Redleaf

Lecture 15 Guest Lecture by Carl Icahn

Lecture 16 The Evolution and Perfection of Monetary Policy

Exam 2 Midterm Exam 2

Lecture 17 Investment Banking and Secondary Markets

Lecture 18 Professional Money Managers and Their Influence

Lecture 19 Brokerage, ECNs, etc.

Lecture 20 Guest Lecture by Stephen Schwarzman

Lecture 21 Forwards and Futures

Lecture 22 Stock Index, Oil and Other Futures Markets

Lecture 23 Options Markets

Lecture 24 Making It Work for Real People: The Democratization of Finance

Lecture 25 Okun Lecture: Learning from and Responding to Financial Crisis, Part I (Guest Lecture by Lawrence Summers)L

ecture 26 Okun Lecture: Learning from and Responding to Financial Crisis, Part II (Guest Lecture by Lawrence Summers)

Exam 3 Final Exam