Gain the necessary tools for a successful future in business and finance with this comprehensive text. Financial Markets and Institutions, 9th edition, Global Edition, by bestselling authors Frederic S. Mishkin and Stanley G. Eakins, serves as a comprehensive companion to courses in financial markets. The text adopts a practical approach to the changing landscape of financial markets, introducing you to core principles and then teaching you how to apply these models to real-world scenarios. Empirical applications of themes help develop your critical thinking and problem-solving skills, preparing you for a future career in business and finance.
This ninth edition has been updated to include brand new material on topics such as monetary policy, financial markets and institutions, and also includes an additional appendices section available online.
With expert advice from two knowledgeable authors on the subject, this book guides you through the core concepts of financial markets and gives you the tools to succeed in the business world.
This title comes with a Companion Website.
PART I: INTRODUCTION
Why Study Financial Markets and Institutions?
Overview of the Financial System
PART II: FUNDAMENTALS OF FINANCIAL MARKETS
What Do Interest Rates Mean and What Is Their Role in Valuation?
Why Do Interest Rates Change?
How Do Risk and Term Structure Affect Interest Rates?
Are Financial Markets Efficient?
PART III: FUNDAMENTALS OF FINANCIAL INSTITUTIONS
Why Do Financial Institutions Exist?
Why Do Financial Crises Occur and Why Are They So Damaging to the Economy?
PART IV: CENTRAL BANKING AND THE CONDUCT OF MONETARY POLICY
Central Banks
Conduct of Monetary Policy
PART V: FINANCIAL MARKETS
The Money Markets
The Bond Market
The Stock Market
The Mortgage Markets
The Foreign Exchange Market
Appendix: The Interest Parity Condition
The International Financial System
PART VI: THE FINANCIAL INSTITUTIONS INDUSTRY
Banking and the Management of Financial Institutions
Financial Regulation
Banking Industry: Structure and Competition
The Mutual Fund Industry
Insurance Companies and Pension Funds
Investment Banks, Security Brokers and Dealers, and Venture Capital Firms
PART VII: THE MANAGEMENT OF FINANCIAL INSTITUTIONS
Risk Management in Financial Institutions
Hedging with Financial Derivatives
CONTENTS ON THE WEB
25. Financial Crises in Emerging Market Economies
26. Savings Associations and Credit Unions
27. Finance Companies
4. Appendix 1: Models of Asset Pricing
4. Appendix 2: Applying the Asset Market Approach to a Commodity Market: The Case of Gold
4. Appendix 3: Loanable Funds Framework
4. Appendix 4: Supply and Demand in the Market for Money: The Liquidity Preference Framework
18. Appendix: Banking Crises Throughout the World
24. Appendix: More on Hedging with Financial Derivatives
