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XF-DXJ8R8Z-2
Research / Academic Paper ACTIVE

The Economics of Financial Markets

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Abstract

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. The mean-variance model of portfolio selection is discussed, with analysis extended to the capital asset pricing model (CAPM). Arbitrage plays a pivotal role in finance and is studied in a variety of contexts, including the APT model of asset prices. Methods for the empirical evaluation of CAPM and APT are also discussed, together with the volatility of asset prices, the intertemporal CAPM and the equity premium puzzle. An analysis of bond contracts leads into an assessment of theories of the term structure of interest rates. Finally, financial derivatives are explored, focusing on futures and options contracts.

Source: resolved

Document Metadata

Issuer
Cambridge University Press (Oryx)
Document Type
Research / Academic Paper
Publication Year
2005
Retrieved
5 May 2026
Source
Contact XFID for Access
Record ID
XFDXJ8R8Z2
Validation
Inferred by XFID

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Academic / report citation
Cambridge University Press (Oryx) (2005). The Economics of Financial Markets. XFID: XF-DXJ8R8Z-2. Retrieved from https://xframework.id/XFDXJ8R8Z2
Identifier only
XF-DXJ8R8Z-2