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Financial Markets and Institutions, 5/E
Frederic S. Mishkin, Columbia University
Stanley G. Eakins, East Carolina University

ISBN-10: 0321280296
ISBN-13: 9780321280299

Publisher: Prentice Hall
Copyright: 2006
Format: Cloth; 752 pp
Published: 03/08/2005

Suggested retail price: $161.33
Not available for purchase at this time.

Recognizing that students need more than an abstract description of financial markets and institutions as they train to become managers successfully working in, or interacting with, the financial service industry, Mishkin and Eakins examine models and concepts through the eyes of a practicing financial manager to see not only why they matter, but also how they are used in the real world. In this way, students learn to place themselves in the role of decision-maker and envision how they might respond to problems and situations that will arise in their future careers.


This Fifth Edition boasts expanded coverage of valuation concepts, more quantitative material, and a streamlined, finance-focused presentation. A careful examination of conflicts of interest, a concentration on the impact of new technologies, new data, and refreshing examples all serve to enhance and illuminate important concepts.

 •    Employs a unifying analytic framework that uses a few basic principles to organize students thinking, including: asymmetric information (agency problems), transaction costs, efficient markets and measurement, and management of risk.

•    Employing a practitioner’s approach to the study of markets and institutions, Mishkin and Eakins present material from a managerial perspective with a strong emphasis on the application of concepts. Wall Street Journal case studies, and The Practicing Manager and Inside the Fed features provide valuable real-world context.

•    New Conflicts of Interest boxes deepen students’ understanding of the importance of conflicts of interest and illustrate how pervasive they are.

•    E-Finance boxes describe how changes in technology have affected financial markets and institutions. The placement of  these boxes throughout the text helps illustrate the impact technology has had in a broad range of areas in finance.

•    The Companion Web Site offers multiple-choice quizzes for every chapter, a multitude of readings on current topics, mini-cases, and more. New Web resources include a Web chapter, Finance Companies and Financial Conglomerates, new Web Appendices, and animated graphs from the text.

•    Internet references in the margins and end-of-chapter web exercises allow students to collect information from online sources to enhance their learning experience.

•    Enhanced PowerPoint Slides with web links integrate the Internet into classroom lectures.

 

  • A new Chapter 16, What Should We Do About Conflicts of Interest in the Financial Services Industry?, discusses the origins of conflicts of interest, addresses the growing concern about conflicts of interest, and provides a survey of the different types of conflicts of interest in the financial services industry and discusses policies to remedy them.  New Conflicts of Interest boxes throughout the text deal with conflicts of interest.

  • There is now expanded coverage of the mutual fund industry including a new Chapter 21, The Mutual Fund Industry, that responds to increased student interest and goes beyond the scandals and headlines.

  • Expanded coverage of the money, bond and stock markets.

  • Extensive discussion of recent accounting and corporate scandals and their impact on financial markets (Chapters 5, 11, 16).

  • New section on behavioral finance, applies concepts from other social sciences like anthropology, sociology and particularly psychology to understand the behavior of securities prices (Chapter 6).

  • New material on Federal Reserve transparency (Chapter 7).

  • New discussion of the changing administration of the discount window by the federal reserve and an updated discussion of the market for reserves (Chapter 8).

  • Perspective on the growing concerns about Fannie Mae and Freddie Mac (Chapter 12).

  • Increased international coverage with new text sections, studies, and Global boxes.

 

Part I: Introduction

1.         Why Study Financial Markets and Institutions?

2.         Overview of the Financial System

 

Part II: Fundamentals of Financial Markets

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

4.         Why Do Interest Rates Change?

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

6.         Are Financial Markets Efficient?

 

Part III: Central Banking and the Conduct of Monetary Policy

7.         Structure of Central Banks and the Federal Reserve System

8.         Conduct of Monetary Policy: Tools, Goals, and Targets

 

Part IV: Financial Markets

9.        The Money Markets

10.      The Bond Market  

11.      The Stock Market

12.      The Mortgage Markets

13.      The Foreign Exchange Market

14.      The International Financial System

 

Part V: Fundamentals of Financial Institutions

15.      Why Do Financial Institutions Exist?

16.      What Should Be Done About Conflicts of Interest in the Financial Industry?

 

Part VI: The Financial Institutions Industry

 

17.    Banking and the Management of Financial Institutions

18.    Commercial Banking Industry: Structure and Competition

19.    Savings Associations and Credit Unions

20.    Banking Regulation

21.    The Mutual Fund Industry

22.    Insurance Companies and Pension Funds

23.    Investment Banks, Security Brokers and Dealers, and Venture Capital Firms

 

Part VII: The Management of Financial Institutions

24.    Risk Management in Financial Institutions

25.    Hedging with Financial Derivatives

 

On the Web

26.    Finance Companies

    In Financial Markets and Institutions, best-selling authors Mishkin and Eakins provide a practical introduction to prepare students for today’s changing landscape of financial markets and institutions. A unifying framework uses a few core principles to organize students’ thinking then examines the models as real-world scenarios from a practitioner’s perspective. By analyzing these applications, students develop the critical-thinking and problem-solving skills necessary to respond to challenging situations in their future careers.

    The Sixth Edition features new quantitative examples and Excel® screenshots to enhance student comprehension; enhanced coverage of ethics, behavioral finance, and arbitrage in markets; and additional examples and cases to extend theory into application.
  • 0321374215Financial Markets and Institutions, 6/E
    Mishkin & Eakins
    © 2009 | Prentice Hall | Cloth; 752 pages | Instock
    ISBN-10: 0321374215 | ISBN-13: 9780321374219
    Brief Description | Buy from myPearsonStore

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