Essentials of Money and Capital Markets provides students with a comprehensive but concise exploration of financial institutions and financial instruments. The book begins with a discussion of the debt levels in the United States, the variability of interest rates, and the financial crisis of 2007-2009. Over the course of 14 chapters, students learn about the Federal Reserve, the U.S. Treasury, pension plans, mutual funds, banks, determinants of interest rates, time values, money market instruments and rates, and the risks associated with changing interest rates. Dedicated chapters address spot and forward interest rates, arbitrage for bonds, theories of the term structure of interest rates, bond ratings and default risk, mortgages and mortgage-backed securities, futures contracts, and financial futures. The fourth edition features updated coverage of the causes and consequences of the financial crisis of 2007-2009. Featuring class-tested content and insightful coverage, Essentials of Money and Capital Markets is well suited for graduate and upper-level undergraduate courses in business, economics, and finance. Miles B. Livingston is the Bank of America Professor of Finance in the Warrington College of Business at the University of Florida. He holds a Ph.D. and M.B.A. with distinction from New York University and a B.A. from Columbia University. Professor Livingston has taught at the University of Wisconsin, the University of Oregon, Concordia University, York University, the College of William and Mary, Erasmus University, and the University of Melbourne. He has published numerous scholarly articles in a variety of finance journals. In 2005, he was named a Prolific Author in Finance by the Journal of Finance Literature.

The substantially revised fifth edition of a textbook covering the wide range of instruments available in financial markets, with a new emphasis on risk management. Over the last fifty years, an extensive array of instruments for financing, investing, and controlling risk has become available in financial markets, with demand for these innovations driven by the needs of investors and borrowers. The recent financial crisis offered painful lessons on the consequences of ignoring the risks associated with new financial products and strategies. This substantially revised fifth edition of a widely used text covers financial product innovation with a new emphasis on risk management and regulatory reform. Chapters from the previous edition have been updated, and new chapters cover material that reflects recent developments in financial markets. The book begins with an introduction to financial markets, offering a new chapter that provides an overview of risk—including the key elements of financial risk management and the identification and quantification of risk. The book then covers market participants, including a new chapter on collective investment products managed by asset management firms; the basics of cash and derivatives markets, with new coverage of financial derivatives and securitization; theories of risk and return, with a new chapter on return distributions and risk measures; the structure of interest rates and the pricing of debt obligations; equity markets; debt markets, including chapters on money market instruments, municipal securities, and credit sensitive securitized products; and advanced coverage of derivative markets. Each chapter ends with a review of key points and questions based on the material covered.

Essentials of Money and Capital Markets provides students with a comprehensive but concise exploration of financial institutions and financial instruments.

The revised and updated 7th edition of this highly regarded book brings the reader right up to speed with the latest financial market developments, and provides a clear and incisive guide to a complex world that even those who work in it often find hard to understand. In chapters on the markets that deal with money, foreign exchange, equities, bonds, commodities, financial futures, options and other derivatives, the book examines why these markets exist, how they work, and who trades in them, and gives a run-down of the factors that affect prices and rates. Business history is littered with disasters that occurred because people involved their firms with financial instruments they didn't properly understand. If they had had this book they might have avoided their mistakes. For anyone wishing to understand financial markets, there is no better guide.

The deep understanding of the forces that affect the valuation, risk and return of fixed income securities and their derivatives has never been so important. As the world of fixed income securities becomes more complex, anybody who studies fixed income securities must be exposed more directly to this complexity. This book provides a thorough discussion of these complex securities, the forces affecting their prices, their risks, and of the appropriate risk management practices. Fixed Income Securities, however, provides a methodology, and not a shopping list. It provides instead examples and methodologies that can be applied quite universally, once the basic concepts have been understood.

This intermediate book on financial capital markets requires no prior background, but goes beyond basic investment tools. -Affordable 300-page textbook by Columbia University professor and industry practitioner. -Adopted by major university and finance firms. -Endorsed by top faculty and industry professionals

Essentials of Money and Capital Markets provides students with a comprehensive but concise exploration of financial institutions and financial instruments. The book begins with a discussion of the debt levels in the United States, the variability of interest rates, and the financial crisis of 2007-2009. Over the course of 14 chapters, students learn about the Federal Reserve, the U.S. Treasury, pension plans, mutual funds, banks, determinants of interest rates, time values, money market instruments and rates, and the risks associated with changing interest rates. Dedicated chapters address spot and forward interest rates, arbitrage for bonds, theories of the term structure of interest rates, bond ratings and default risk, mortgages and mortgage-backed securities, futures contracts, and financial futures. The fourth edition features updated coverage of the causes and consequences of the financial crisis of 2007-2009. Featuring class-tested content and insightful coverage, Essentials of Money and Capital Markets is well suited for graduate and upper-level undergraduate courses in business, economics, and finance.