part one Introduction 1

1 Why Study Financial Markets and Institutions? 1

2 Overview of the Financial System 15

part two Fundamentals of Financial Markets 36

3 What Do Interest Rates Mean and What Is Their Role in Valuation? 36

4 Why Do Interest Rates Change? 64

5 How Do Risk and Term Structure Affect Interest Rates? 87

6 Are Financial Markets Efficient? 115

part three Fundamentals of Financial Institutions 133

7 Why Do Financial Institutions Exist? 133

8 Why Do Financial Crises Occur and Why Are They So

Damaging to the Economy? 164

part four Central Banking and the Conduct of Monetary Policy 183

9 Central Banks and the Federal Reserve System 183

10 Conduct of Monetary Policy: Tools, Goals, Strategy, and Tactics 206

part five Financial Markets 250

11 The Money Markets 250

12 The Bond Market 273

13 The Stock Market 297

14 The Mortgage Markets 318

15 The Foreign Exchange Market 339

16 The International Financial System 367

part six The Financial Institutions Industry 391

17 Banking and the Management of Financial Institutions 391

18 Financial Regulation 418

19 Banking Industry: Structure and Competition 448

20 The Mutual Fund Industry 483

21 Insurance Companies and Pension Funds 508

22 Investment Banks, Security Brokers and Dealers, and Venture Capital Firms 538

第一部分简介1

1为什么要研究金融市场和机构？ 1个

2金融体系概述15

第二部分金融市场基本原理36

3利率是什么意思，它们在评估中的作用是什么？ 36

4为什么利率会变化？ 64

5风险和期限结构如何影响利率？ 87

6金融市场是否有效？ 115

第三部分金融机构基础133

7为什么存在金融机构？ 133

8为什么会发生金融危机，为什么会如此

对经济有害吗？ 164

第四部分中央银行和货币政策的实施183

9中央银行和联邦储备系统183

10货币政策的执行：工具，目标，策略和策略206

第五部分金融市场250

11货币市场250

12债券市场273

13股市297

14抵押市场318

15外汇市场339

16国际金融体系367

第六部分金融机构行业391

17银行与金融机构的管理391

18财务条例418

19银行业：结构与竞争448

20共同基金行业483

21保险公司和养老基金508

22投资银行，证券经纪人和交易商以及风险投资公司538