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Known for its solid conceptual framework, Madura's best-selling FINANCIAL MARKETS AND INSTITUTIONS, 12e, helps students understand why financial markets exist, how financial institutions serve these markets, and what services those institutions offer. Focusing on the management, performance, and regulatory aspects of financial institutions, it explores the functions of the Federal Reserve System, the major debt and equity security markets, and derivative security markets. The 12th edition includes updates on regulatory reform as well as expanded coverage of behavioral finance concepts, high-frequency trading, and pension fund underfunding implications. Critical Thinking Questions, Flow of Funds Exercises, and online research assignments help students put what they learn into practice, while timely examples further connect concepts to financial trends. In addition, MindTap®, an integrated e-text and online learning solution enhances understanding of course content and offers opportunities to extend learning.
- Thoroughly updated and packed with timely examples, Madura's FINANCIAL MARKETS AND INSTITUTIONS, 12e, reflects the latest financial developments, trends and issues as well as updates on regulatory reform for various types of financial markets and institutions. Chapter 12, "Market Microstructure and Strategies," includes an increased emphasis on high-frequency trading.
- All-new Critical Thinking Questions prompt students to write a short essay on a relevant topic in each chapter, giving them firsthand experience applying chapter concepts to real-world practice.
- Chapter 25 from the previous edition has been expanded into two chapters -- that include substantially expanded coverage of pension fund underfunding problems and implications.
- An increased emphasis on behavioral finance concepts is included throughout.
- MindTap® Finance digital learning solution enables students to connect with their instructor, organize coursework, and access a range of study tools, including an e-book and apps -- all in one place! MindTap® Reader keeps all their notes together, lets them print material, and will even read text out loud. The MindTap® Mobile App includes pre-populated flashcards, quizzes, and important course alerts, while the Progress App tracks their performance in relation to other students.
- CONNECTION WITH GLOBAL MARKETS. Throughout the text, "Global Aspects" call-outs show your students the interconnectedness of the U.S. and global financial markets.
- "ONLINE ARTICLES" ENCOURAGE FINANCIALLY RELATED INTERNET RESEARCH. End-of-chapter online research assignments prompt students to practice their Internet research skills as well as connect chapter content to timely financial activities.
- CURRENT, RELEVANT EXAMPLES REINFORCE REAL-WORLD APPLICATION OF CONCEPTS. Numerous memorable examples throughout the 12th edition reinforce key concepts and show students the practical applications and importance of the material they are learning.
- ONGOING FLOW OF FUNDS EXERCISE EMPHASIZES PRACTICAL APPLICATION OF USING FINANCIAL MARKETS AND SERVICES. The running Flow of Funds Exercise at the end of each chapter clearly illustrates how a manufacturing company relies on all types of financial markets, institutions, and services.
- HANDS-ON INTERNET/EXCEL EXERCISES DRIVE HOME CHAPTER CONCEPTS. Accompanying Excel® exercises highlight spreadsheet applications related to key topics, such as yield curves, risk premiums, and stock volatility.
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.
Part V: DERIVATIVE SECURITY MARKETS.
13. Financial Futures Markets.
14. Options Markets.
15. Swap Markets.
16. Foreign Exchange Derivative Markets.
Part VI: COMMERCIAL BANKING.
17. Commercial Bank Operations.
18. Bank Regulation.
19. Bank Management.
20. Bank Performance.
Part VII: NONBANK OPERATIONS.
21. Thrift Operations.
22. Finance Company Operations.
23. Mutual Fund Operations.
24. Securities Operations.
25. Insurance Operations.
26. Pension Fund Operations
Appendix A: Comprehensive Project.
Appendix B: Using Excel to Conduct Analyses.
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