TAILIEUCHUNG - Lecture Financial markets - Lecture 1: Financial and insurance as powerful forces in our economy and society

Lecture topics will include: behavioral finance, financial technology, financial instruments, commercial banking, investment banking, financial markets and institutions, real estate, regulation, monetary policy, and democratization of finance. | Financial Markets Economics 252 Robert Shiller Introductory Lecture Financial and Insurance as Powerful Forces in Our Economy and Society This course seeks to understand the full role of advanced risk management in our economy and society Finance, insurance, some public finance The Fundamental Role of Risk Management All manner of enterprise involves risk Difficulties in quantifying Judgment Financial theory provides an understanding of these risks Financial institutions provide a framework for applying theory Moral Hazard Example: burning down a house to collect on fire insurance Ubiquity of moral hazard problems Practical finance has developed institutions to promote risk management while dealing with moral hazard Major Financial Sectors Securities Banks Insurance Social Insurance All of these have a long history of promoting risk management and dealing with moral hazard. They are fundamental elements of our successful modern economy Radical Financial Innovation Risks not easily conceptualized Public resistance to risk management Each major risk category requires difficult institutional innovations to manage Democratization of Finance Trend over the centuries has been to apply financial and insurance principles to a broader and broader segment of population Advance of information technology Finance and Psychology The Behavioral Finance Revolution NBER-Sage Seminars on Behavioral Finance, with Richard Thaler, starting 1991 A Revolution in the finance profession. But not everyone has been captured by it. Finance and Management Most central discipline for managers is finance Integration into all aspects of business management, including accounting, corporate strategy, industrial organization Integration into government finance as well Integration growing through time Finance and Law Lawyers are often financial inventors Often government role in process Law schools deal with all the minutiae Text #1: Foundations of Financial Markets

• Tài chính doanh nghiệp
• Financial markets
• Lecture Financial markets
• Economics 252
• Powerful forces
• Risk management
• Archetypal risk management
• Thị trường tài chính
• Financial futures markets
• Valuation of financial futures
• Interest rate futures
• Financial institutions
• Lecture Financial markets and institutions
• Financial institutions markets
• Capital markets
• Money markets
• Derivative securities markets
• Futures markets
• Option markets
• Swap markets
• Foreign exchange derivative markets
• Bank management
• Types of Financial Markets
• Securities traded
• Valuation of securities
• Money market yields
• Bond markets
• Municipal bonds
• Mortgage markets
• Primary mortgage market
• Stock markets
• Common stock
• Foreign exchange markets
• Foreign exchange
• Commercial banks
• Financial statements
• Risks at financial institutions
• Market risk
• Exchange rates
• Efficient markets
• Excess volatility
• Efficient Markets Hypothesis
• Interest rate derivative markets
• Interest rate swaps
• Mortgage backed securities
• Globalization of mortgage markets
• Financial markets and institutions
• The financial system
• Interest rates change
• Financial markets efficient
• Term structure affect interest rates
• The stock market
• The mortgage markets
• The international financial system
• Financial regulation
• Interest rate fundamentals
• Interest rates
• Security valuation