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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: FUNDAMENTALS OF FINANCIAL INSTITUTIONS
7. Why Do Financial Institutions Exist?
8. Why Do Financial Crises Occur and Why Are They So Damaging to the Economy?

PART IV: CENTRAL BANKING AND THE CONDUCT OF MONETARY POLICY
9. Central Banks
10. Conduct of Monetary Policy

PART V: FINANCIAL MARKETS
11. The Money Markets
12. The Bond Market
13. The Stock Market
14. The Mortgage Markets
15. The Foreign Exchange Market
Appendix: The Interest Parity Condition
16. The International Financial System

PART VI: THE FINANCIAL INSTITUTIONS INDUSTRY
17. Banking and the Management of Financial Institutions
18. Financial Regulation
19. Banking Industry: Structure and Competition
20. The Mutual Fund Industry
21. Insurance Companies and Pension Funds
22. Investment Banks, Security Brokers and Dealers, and Venture Capital Firms

PART VII: THE MANAGEMENT OF FINANCIAL INSTITUTIONS
23. Risk Management in Financial Institutions
24. Hedging with Financial Derivatives

CONTENTS ON THE WEB
25. Financial Crises in Emerging Market Economies
26. Savings Associations and Credit Unions
27. Finance Companies

Appendix 1: Models of Asset Pricing
Appendix 2: Applying the Asset Market Approach to a Commodity Market: The Case of Gold
Appendix 3: Loanable Funds Framework
Appendix 4: Supply and Demand in the Market for Money: The Liquidity Preference Framework
Appendix: Banking Crises Throughout the World
Appendix: More on Hedging with Financial Derivatives

Real-world applications help students navigate the shifting financial landscape

Financial Markets and Institutions takes a practical approach to the changing landscape of financial markets and institutions. Best-selling authors Frederic S. Mishkin and Stanley G. Eakins use core principles to introduce students to topics, then examine these models with real-world scenarios. Empirical applications of themes help students develop essential critical-thinking and problem-solving skills, preparing them for future careers in business and finance. The 9th Edition combines the latest, most relevant information and policies with the authors' hallmark pedagogy to give instructors a refined tool to improve the learning experience.