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The Economics of Financial Markets

Authors

Roy E. Bailey
, University of Essex
Published 2005

Description

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…

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Key features

  • Concise overview of capital markets
  • Emphasises economic principles
  • Companion website including a variety of online resources

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