Description

Financial
markets represent the lifeblood of our global economy. These mechanisms promote
greater economic efficiency by transferring funds from individuals, businesses
and governments with an excess of available funds to those with a shortage.
Funds are transferred in the financial markets through the purchase and sale of
financial instruments (such as stocks and bonds). Short-term financial instruments
are available in money markets, while longer-term financial instruments are
purchased and sold in the world’s capital markets. Many financial markets have
been in existence for hundreds of years; however, the modern era has brought
along many new innovations such as securitizations, derivatives, and
cryptocurrencies.

This course covers
capital markets, which is where many businesses and governments raise funds
through the issuance and trading of long-term securities. This course reviews
the three main types of capital markets: the bond markets, stock markets, and
mortgage markets. It reviews the financial instruments traded in each of these
markets. It also discusses the issuance processes for various capital market
instruments, including the initial public offering (or IPO), mortgage
underwriting, and securitization processes.