Reflecting the latest developments from the field, best-selling FINANCIAL MARKETS AND INSTITUTIONS: ABRIDGED, 11E helps students understand why financial markets exist, how financial institutions serve these markets, and what services those institutions offer. This succinct paperback emphasizes securities traded by financial institutions and the scope of participation of those entities within each market. It focuses on the management, performance, and regulatory aspects of financial institutions and explores the functions of the Federal Reserve System, the major debt and equity security markets, and derivative security market. Known for its reader-friendly approach, the text combines clear writing and contemporary coverage with hands-on learning applications. "Using THE WALL STREET JOURNAL" pulls timely, relevant examples of chapter concepts in practice straight from recent headlines. In addition, the ongoing Flow of Funds Exercise at the end of each chapter illustrates how a manufacturing company relies on all types of financial markets, institutions, and services. The 11th Edition also includes expanded end-of-chapter questions and applications to help students apply what they've learned.
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Table of Contents
Part I: OVERVIEW OF THE FINANCIAL ENVIRONMENT.
1. Role of Financial Markets and Institutions.
2. Determination of Interest Rates.
3. Structure of Interest Rates.
Part II: THE FED AND MONETARY POLICY.
4. Functions of the Fed.
5. Monetary Policy.
Part III: DEBT SECURITY MARKETS.
6. Money Markets.
7. Bond Markets.
8. Bond Valuation and Risk.
9. Mortgage Markets.
Part IV: EQUITY MARKETS.
10. Stock Offerings and Investor Monitoring.
11. Stock Valuation and Risk.
12. Market Microstructure and Strategies (Web chapter).
Part V: DERIVATIVE SECURITY MARKETS.
13. Financial Futures Markets (Web chapter).
14. Options Markets.
15. Swap Markets (Web chapter).
16. Foreign Exchange Derivative Markets (Web chapter).
Part VI: COMMERCIAL BANKING.
17. Commercial Bank Operations.
18. Bank Regulation.
19. Bank Management.
20. Bank Performance (Web chapter).
Part VII: NONBANK OPERATIONS.
21. Thrift Operations (Web chapter).
22. Finance Company Operations (Web chapter).
23. Mutual Fund Operations.
24. Securities Operations (Web chapter).
25. Insurance and Pension Fund Operations.
Appendix A: Comprehensive Project.
Appendix B: Using Excel to Conduct Analyses.