About this item
Highlights
- A clear new finance textbook that explains essential models and practices, and how the financial world works now Contemporary Financial Markets and Institutions: Tools and Techniques to Manage Risk and Uncertainty is an ideal introduction to finance for professionals and students.
- About the Author: Allan M. Malz has been chief risk officer at several multi-strategy hedge fund management firms.
- 432 Pages
- Business + Money Management, Finance
- Series Name: Wiley Finance
Description
About the Book
"Contemporary Finance: Money, Risk, and Public Policy is a textbook on finance for finance professionals, undergraduates and graduate students. It covers the basic finance theory required to understand the contemporary financial world and builds on that theory to present finance in a detailed yet comprehensible way. Contemporary Finance introduces readers to markets and institutions as well as to the government policy framework within which these markets operate. Contemporary Finance is designed to be used as a sole or supplementary textbook for introductory and specialized finance courses, as well as for practitioners in several fields in or related to finance. The financial world has been changing rapidly for over half a century, and even faster amid the crises of recent decades. Those changes have put risk and uncertainty in the center of our understanding of finance, and have given regulatory and central bank policies a more central role in shaping the financial system. Contemporary Finance emphasizes risk and uncertainty in its presentation of financial theory and practice. The book begins with an overview of the markets, institutions and actors in the financial system, and of the questions the study of finance tries to answer. It then covers basic finance theory in a highly applied way, presenting concrete examples and case studies for each concept. The theory covered includes investor behavior, the role of uncertainty, how prices are set in financial markets, and risk models and measurement. Contemporary Finance discusses credit and liquidity risk comprehensively, including discussion of legal aspects, firm capital structure, and leverage"--Book Synopsis
A clear new finance textbook that explains essential models and practices, and how the financial world works now
Contemporary Financial Markets and Institutions: Tools and Techniques to Manage Risk and Uncertainty is an ideal introduction to finance for professionals and students. It covers the basic finance theory required to understand the contemporary financial world and builds on it to present finance in a detailed yet comprehensible way. It explains markets and institutions, and the central bank and government policies that influence how they operate.
The book begins with an overview of basic finance theory, including investments, asset return behavior, derivatives pricing, and credit risk. It discusses topics that have dominated markets in recent decades, such as extreme events, liquidity, currency and debt crises, and radical changes in monetary policy and regulation. The concepts are presented alongside examples, strange market episodes, and data from recent experience. Contemporary Financial Markets and Institutions covers advanced credit topics like securitization in a straightforward, succinct way, without advanced mathematics, but with detailed examples using real market data. It integrates financial and macroeconomic content seamlessly. The book is suitable for use by undergraduate and graduate students, and by practitioners of all backgrounds. Abundant pedagogical resources in the book and online facilitate teaching.
This book will help students and practioners:
- Learn the basic concepts and models in finance, including investment, asset pricing, uncertainty and risk, monetary policy and the regulatory system
- Explore recent developments, from the expansion of central banks to the chaos in commercial banking to changes in financial technology, that are dominating markets worldwide
- Gain knowledge of risk types, models, and measurement methods, and the impact of regulation
- Prepare yourself for a successful career in finance, or update your existing knowledge base with this comprehensive reference guide
Ideal as a sole or supplementary textbook for beginning and advanced finance courses, as well as for practitioners in finance-related fields, this book takes a unique, market-focused approach that will serve readers well in our turbulent and puzzling times.
From the Back Cover
Praise for Contemporary Finance
"Contemporary Finance is another tour de force treatise from Allan Malz, building on but extending the coverage of his earlier book Financial Risk Management to bring it up to date in a world of financial fragility and interconnected complexity. Dr. Malz is a gifted expositor who approaches the subject from the vantage point of both a market risk manager and a scholar of finance theory. I've been working on these topics for four decades and learn something new in every chapter. Moreover, the material I think I knew I now know how to teach thanks to Allan's books."--Richard Clarida, Harriss Professor of Economics, Columbia University; Global Economic Advisor, PIMCO; former Vice Chair, Federal Reserve 2018-2022
"Contemporary Finance covers many key issues in finance. For example, it explains the nature of financial markets, how financial securities are priced, and risk management practices. It concludes with chapters on monetary policy and regulation. An important question for any book used in the classroom is: 'Will students want to keep the book after the course is over?' I am confident that students will continue to want to use Contemporary Finance once they become practitioners. The book blends theory and practice in an engaging way that is useful for all who work (or would like to work) in finance."
--John C. Hull, Professor of Finance, Rotman School of Management, University of Toronto
Appreciate the complexities underlying the world of finance
Contemporary Finance is a textbook for finance professionals, undergraduates and graduate students. It covers the basic finance theory required to understand the contemporary financial world and builds on that theory in a detailed yet comprehensible way. Contemporary Finance introduces readers to markets and institutions as well as to the government policy framework within which they operate.
Suitable for students at all levels, this book connects theories and concepts directly to real-world events and examples. It includes case studies such as the London Whale and GameStop trading episodes, so readers can relate theoretical concepts to reality by studying their relevance to recent market events. With its focus on recent developments and global markets, Contemporary Finance is an excellent choice for professionals and academics looking to improve or update their understanding of financial economics.
By aiming for integration across topics rather than siloed explanations of individual subjects, Contemporary Finance offers readers a practically applicable foundation of knowledge that will serve them well in public service or the private sector. Today's learners need a contemporary, applied approach to the study of finance--this is it.
About the Author
Allan M. Malz has been chief risk officer at several multi-strategy hedge fund management firms. He worked at the Federal Reserve Bank of New York as a researcher and foreign exchange trader, and helped implement the Fed's emergency liquidity programs addressing the global financial crisis.
Malz is an investment consultant and adjunct professor at Columbia University, and the author of Financial Risk Management: Models, History, and Institutions. His work on predicting financial crises and on risk measurement for options has been published in industry and academic journals. He holds a Ph.D. from Columbia and a Diplom from Ludwig-Maximilians-Universität München.
