Introduction to the Economics of Financial Markets

Part I: Introduction 1. The Economics of Financial Markets 2. Financial Markets and Economic Efficiency

Part II: Intertemporal Allocation by Consumers and Firms When Future Payments are Certain 3. The Fundamental Economics of Intertemporal Allocation 4. The Fisher Diagram for Optimal Intertemporal Allocation 5. Maximizing lifetime utility in a firm with many shareholders 6. A Transition to Models in which Future Outcomes Are Uncertain

Part III: Rates of Return as Random Variables 7. Probabilistic Models

Part IV: Portfolio Theory and Capital Asset Pricing Theory 8. Portfolio Theory 9. The Capital Asset Pricing Model 10. Multifactor Models for Pricing Securities

Part V: The Informational Efficiency and the Allocative Efficiency of Financial Markets: The Concepts 11. The Efficient Market Hypothesis 12. Event Studies

Part VI:The Informational and Allocative Efficiency of Financial Markets: Applications 13. Capital Structure 14. Options 15. Futures Contracts 16. Insider Trading 17. Summary and Conclusions

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Nyckelord: Consumers, Future Payments, Fundamental Economics, Maximizing lifetime, shareholders