ISBN10: 0521612802, ISBN13: 9780521612807, [publisher: Cambridge University Press, United Kingdom, Cambridge] Softcover The Economics of Financial Markets presents a concise overview of capital markets, suitable for advanced undergraduates and for beginning graduate students in financial economics. Following a brief overview of financial markets - their microstructure and the randomness of stock market prices - this textbook explores how the economics of uncertainty can be applied to financial decision-making. The mean-variance model of portfolio selection is discussed, with analysis extended to the capital asset pricing model (CAPM). Arbitrage plays a pivotal role in finance and is studied in a variety of contexts, including the APT model of asset prices. Methods for the empirical evaluation of CAPM and APT are also discussed, together with the volatility of asset prices, the intertemporal CAPM and the equity premium puzzle. An analysis of bond contracts leads into an assessment of theories of the term structure of interest rates. Finally, financial derivatives are explored, focusing on futures and options contracts. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged.
[Goring-By-Sea, WS, United Kingdom] [Publication Year: 2005]

Paperback / softback. New. New Book; Fast Shipping from UK; Not signed; Not First Edition; The Economics of Financial Markets provides comprehensive cover of the economic principles underlying all financial markets, focusing on markets for equities, bonds, futures and options contracts. This textbook is suitable for advanced ISBN 0521612802 9780521612807 [GB]