Financial Institutions And Markets

This book provides the student with the facts, but it places those facts in a context that makes sense of them. Facts get old quickly. But an understanding of the forces that lie behind the facts will stand the student in good stead many years after the facts themselves have changed. This book is intended for courses in financial institutions, financial markets, or a combination of institutions and markets at either the undergraduate or masters level. The book is designed to be self-contained, but students will benefit from having taken introductory economics; the only mathematics prerequisite is knowledge of high school algebra. The book is thoroughly up-to-date. Data are as recent as possible, and all major events and developments up to mid-1993 have been addressed.