Introduction to the Economics of Financial Markets - Hardcover

Bradfield, James

Hardcover

ISBN 10: 0195310632 ISBN 13: 9780195310634

Publisher: Oxford University Press, 2007

Synopsis

There are many textbooks for business students that provide a systematic, introductory development of the economics of financial markets. However, there are as yet no introductory textbooks aimed at more easily daunted undergraduate liberal arts students. Introduction to the Economics of Financial Markets fills this gap by providing an extremely accessible introductory exposition of how economists analyze both how, and how well, financial markets organize the intertemporal allocation of scarce resources. The central theme is that the function of a system of financial markets is to enable consumers, investors, and managers of firms to effect mutually beneficial intertemporal exchanges. James Bradfield uses the standard concept of economic efficiency (Pareto Optimality) to assess the efficacy of the financial markets. He presents an intuitive, and introductory, understanding of the primary theoretical and empirical models that economists use to analyze financial markets, and then uses these models to discuss implications for public policy. Students who use this text will acquire an understanding of the economics of financial markets that will enable them to read, with some sophistication, articles in the public press about financial markets and about public policy toward those markets. The book is addressed to undergraduate students in the liberal arts, but will also be useful for undergraduate and beginning graduate students in programs of business administration who want an understanding of how economists assess financial markets against the criteria of allocative and informational efficiency.

About this title

About the Author:

James Bradfield is Leavenworth Professor of Economics at Hamilton College.

Review:

"James Bradfield's Introduction to the Economics of Financial Markets is a well-written non-technical introduction to finance theory. While covering all of the traditional topics, the book emphasizes the contributions that financial markets can make to economic well-being. It will be particularly appealing to undergraduates studying economics who want to understand risk-return tradeoffs in securities markets, the market efficiency concept, futures and options, and the economic implications of debt and equity contracts."--John P. Caskey, Professor of Economics, Swarthmore College

"Professor Bradfield has written a wonderful book on the Economics of Financial Markets. It's one of the few texts focusing on the economics of securities markets and their operation. Professor Bradfield starts with the basics, but moves on to present extremely complex financial concepts in a transparent and intuitive manner. This book is a "must read" for anyone seeking to understand how economists view the efficiency (informational and otherwise) of financial markets and securities." --Daniel Jubinski, Assistant Professor of Economics, Colgate University, Department of Economics

About this edition

• Publisher: Oxford University Press
• Publication date: 2007
• ISBN 10: 0195310632
• ISBN 13: 9780195310634
• Binding: Hardcover
• Edition number: 1
• Number of pages: 512