Tahun Terbit

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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. Emp…

Financial markets encompass a broad, continually evolving and not altogether clearly delimited collection of institutions, formal and informal, that serve to facilitate the exchange of assets. More to the point, the concept of an ?asset? is open to a variety of interpretations.1 Rather than get bogged down in arbitrary classifications ? and in ultimately fruitless distinctions ? the nature of ?…