Principles of money, banking & financial markets (Book, 2009) []
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Principles of money, banking & financial markets

Principles of money, banking & financial markets

Author: Lawrence S Ritter; William L Silber; Gregory F Udell
Publisher: Boston, MA : Addison-Wesley, ©2009.
Series: The Addison-Wesley series in economics
Edition/Format:   Print book : English : 12th edView all editions and formats

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Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Lawrence S Ritter; William L Silber; Gregory F Udell
ISBN: 9780321339195 0321339193 9780321500854 0321500857
OCLC Number: 236117398
Description: xxxiv, 617 pages : illustrations (some color) ; 24 cm.
Contents: Machine derived contents note: Part I The Basics --
Chapter 1 --
Introducing Money, Banking, and Financial Markets --
An Overview --
Why Study Money, Banking, and Financial Markets? --
Careers in Banking and Financial Markets --
An Overview --
Specific Opportunities --
Trading --
Sales --
Financial Economist --
Fixed-Income Research --
Loan Officer --
Bank Examiner --
Key Terms --
Chapter 2 --
The Role of Money in the Macroeconomy --
Introducing Money --
Going Out on a Limb: The Launch of the Euro --
Who Determines Our Money Supply? --
The Importance of Money I: Money Versus Barter --
The Importance of Money II: Financial Institutions and Markets --
Money, the Economy, and Inflation --
Bank Reserves and the Money Supply --
How Large Should the Money Supply Be? --
Velocity: The Missing Link --
Money and Inflation --
Going Out on a Limb: Will Paper Money Ever Disappear? --
Summary --
Key Terms --
Questions --
Chapter 3 --
Financial Instruments, Markets, and Institutions --
Flow of Funds --
Financial Instruments and Markets --
Bonds Represent Borrowing --
Stocks Represent Ownership --
Mortgages Involve Real Estate --
Derivatives: Options and Futures --
The Money and Capital Markets: A Summary --
Financial Intermediaries: Purposes and Profile --
The Role of Financial Intermediaries --
Financial Intermediaries in Profile --
Summary --
Key Terms --
Questions --
Part Ii Financial Instruments And Markets --
Chapter 4 --
Interest Rate Measurement and Behavior --
Calculating Interest Rates --
Simple Interest --
Compound Interest --
Coupon Rate on Bonds --
Current Yield --
Yield to Maturity --
Off the Record: The Million Dollar Lottery: A Case of Misleading --
Advertising? --
Zero-Coupon Bonds --
Reading the Financial News: Government Bond Market Quotations --
The Inverse relationship Between Yields and Bond Prices --
Why Long-Term Bonds Are Riskier Than Shorts --
Nominal Versus Real Interest Rates --
Return Versus Yield to Maturity --
What Determines the Level of Interest Rates? --
Supply and Demand Determine the Interest Rate --
Why Does the Interest Rate Fluctuate? --
Behind Supply and Demand --
The Importance of Inflationary Expectations --
In the News: Bonds Move Higher --
Cyclical and Long-Term Trends in Interest Rates --
Summary --
Key Terms --
Questions --
Chapter 5 --
The Term and Risk Structure of Interest Rates --
The Term Structure of Rates and the Yield Curve --
Supply and Demand --
The Pure Expectations Approach --
The Liquidity Premium Modification --
The Preferred Habitat Approach --
Real-World Observations --
Going Out on a Limb: Is the Shape of the Yield Curve a Crystal Ball? --
An Aside on Marketability --
Risk and Tax Structure of Rates --
Summary --
Key Terms --
Questions --
Appendix: Bond Price Volatility: Duration Versus Maturity --
Key Terms --
Chapter 6 --
The Structure and Performance of Securities Markets --
Nature and Function of Securities Markets --
Types of Markets --
Auction Market --
Brokered Market --
Dealer Market --
Primary Versus Secondary Markets --
Efficiency of Secondary Market Trading --
In the News: Senator Pushing for Accurate Prices --
Going Out on a Limb: The Computer Will Prevail --
Efficient Capital Markets and Regulation --
In the News: Investment Dartboard --
Summary --
Key Terms --
Questions --
Chapter 7 --
The Pricing of Risky Financial Assets --
Economic Uncertainty --
A World of Certainty --
Consequences of Uncertainty and Risk Aversion --
An Aside on Measuring Risk --
Principles of Diversification --
In the News:When a Simpler 401(k) Is Just Dumb --
The Risk Premium on Risky Securities --
Going Out on a Limb: Buy an Index Fund --
Summary --
Key Terms --
Questions --
Chapter 8 --
Money and Capital Markets --
The Government Bond Market --
Types of Securities and Investors --
How the Market Works --
Treasury Bills: Auctions and Yields --
Repurchase Agreements --
Bank-Related Securities: CDs and Eurodollars --
Corporate Securities --
Corporate Bonds --
Going Out on a Limb: Junk Is Good --
Reading the Financial News: Corporate Bond Market Quotations --
Commercial Paper --
Municipal Securities --
In the News: General Obligation Bonds Might Yield More than Revenue --
Bonds --
Mortgage Securities --
In the News: Perusing the Subprime Detritus --
The Stock Market --
Structure of the Stock Market --
Reading the Financial News: Stock Market Quotations --
What Determines Whether Stock Prices Rise or Fall? --
Off the Record: The Dow Jones Versus the S&P 500 --
Money and Stock Prices --
Going Out on a Limb: Bubbles and the Stock Market --
Summary --
Key Terms --
Questions --
Chapter 9 --
Demystifying Derivatives --
An Overview of Financial Futures --
Using Financial Futures Contracts --
In the News: Weatherproof Adopts Apparel Industry's First-Ever Weather --
Hedge --
Reading the Financial News: Financial Futures Quotations --
Pricing Financial Futures Contracts --
An Overview of Options Contracts --
Using and Valuing Options --
Reading the Financial News: Options Quotations --
What Determines Options Premiums? --
Going Out on a Limb: Don't Blame Derivatives --
An Overview of Swaps --
Why Swap? --
Valuing a Swap --
Summary --
Key Terms --
Questions --
Chapter 10 --
Understanding Foreign Exchange --
What Determines Foreign Exchange Rates? --
Reading the Financial News: Foreign Exchange Quotations --
Why Do Exchange Rates Fluctuate? --
In the News: Whistler Adjusts Prices to Lure Washington Skiers Back --
How Global Investors Cause Exchange Rate Volatility --
Fixed Versus Floating Exchange Rates --
How Fixed Rates Are Supposed to Work --
In the News: Let China's Yuan Float --
International Financial Crises --
Summary --
Key Terms --
Questions --
Part Iii Banks And Other Intermediaries --
Chapter 11 --
The Nature of Financial Intermediation --
The Economics of Financial Intermediation --
Going Out on a Limb: Lemons and MP3 Players: Two examples of --
Adverse Selection --
In the News: Housing Tilting Economy Down --
The Evolution of Financial Intermediaries in the United States --
The Shifting Sands of Interest Rates --
The Regulation Q Security Blanket --
The Birth of the Money Market Mutual Fund --
The Saving and Loan Crisis --
The Rise of Commercial Paper --
The Institutionalization of Financial Markets --
The Transformation of Traditional Banking --
Financial Intermediaries: Assets, Liabilities, and Management --
Summary --
Key Terms --
Questions --
Chapter 12 --
Depository Financial Institutions --
The Fundamentals of bank Management --
Use of Bank Funds --
Sources of Bank Funds --
Bank Profitability --
Bank Risk --
Leverage Risk --
Credit Risk --
Interest Rate Risk --
In the News: Local Banks Weigh Hedging Risks --
Trading Risk --
Liquidity Risk --
Major Trends in Bank Management --
The Consolidation Within the Banking Industry --
The McFadden Act --
The Erosion of McFadden --
Measuring Consolidation --
The Economics of Consolidation --
In the News: Bank Mergers Make Raising Funds for Projects Harder --
Nontraditional Banking --
Globalization --
American Banks Abroad --
Foreign Banks in the United States --
The Euromarkets --
The Subprime Mortgage Crisis --
In the News: Rate of Mortgage Delinquencies Rises --
Nonbank Depository Institutions --
The Thrifts --
Summary --
Key Terms --
Questions --
Chapter 13 --
Nondepository Financial Institutions --
Insurance Companies and Pension Funds --
Property and Casualty Insurance Companies --
In the News: The Coming Deluge --
Pension Funds --
Mutual Funds --
In the News: Getting In on the New Gold Rush --
Finance Companies --
Securities Brokers and Dealers and Investment Banks --
Venture Capital Funds, Mezzanine Debt Funds, and Hedge Funds --
Banks Versus Nondepository Institutions --
Summary --
Key Terms --
Questions --
Part Iv Financial System Architecture --
Chapter 14 --
Understanding Financial Contracts --
How Business Obtains Financing --
Financing Small Businesses --
Financing Midsize Businesses --
Financing Large Businesses --
The Economics of Financial Contracting --
In the News: A Journey into the Secret Heart of Capitalism Turns into a --
Roller Coaster Ride --
Asymmetric Information and Financial Contracting --
Contracting and the Firm Continuum --
Consumer Lending, Financial Contracting, and Securitization --
Summary --
Key Terms --
Questions --
Chapter 15 --
The Regulation of Markets and Institutions --
The Regulation of Financial Markets in the United States --
The Regulation of the Primary Market --
The Regulation of the Secondary Markets --
The Regulation of Commercial Banks in the United States --
Off the Record: Insider Trading: Efficiency Versus Equity --
The U.S. Banking Regulatory Structure --
Regulations to Protect Individual Depositors and Financial System Stability --
Deposit Insurance --
Moral Hazard and Deposit Insurance --
Risk-Based Capital Requirements --
Risk-Based Deposit Insurance Premiums --
In the News: FDIC Premiums Seen Having Little Effect on Industry --
Regulation of Nondepository Financial Intermediaries --
Where Securities Market and Banking Regulation Meet: The Glass-Steagall Act, A --
Collapsing Barrier --
The Genesis of Glass-Steagall --
The Erosion of Glass-Steagall --
The Risk of Universal Banking --
Summary --
Key Terms --
Questions --
Chapter 16 --
Financial System Design --
Information and Financial System Design --
Stockholder-Lender Conflict --
Manager-Stockholder Conflict --
Conflict Resolution and Financial System Design --
Small Firms: Stockholder-Lender Conflict --
Large Firms: Stockholder-Lender Conflict --
Series Title: The Addison-Wesley series in economics
Other Titles: Principles of money, banking, and financial markets
Responsibility: Lawrence S. Ritter, William L. Silber, Gregory F. Udell.
More information:


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