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Financial Theory

John Geanakoplos · Yale University

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About

This course attempts to explain the role and the importance of the financial system in the global economy. Rather than separating off the financial world from the rest of the economy, financial equilibrium is studied as an extension of economic equilibrium. The course also gives a picture of the kind of thinking and analysis done by hedge funds.

Lectures

  1. Why Finance? Lecture 1 · Audio
  2. Utilities, Endowments, and Equilibrium Lecture 2 · Audio
  3. Computing Equilibrium Lecture 3 · Audio
  4. Efficiency, Assets, and Time Lecture 4 · Audio
  5. Present Value Prices and the Real Rate of Interest Lecture 5 · Audio
  6. Irving Fisher's Impatience Theory of Interest Lecture 6 · Audio
  7. Shakespeare's Merchant of Venice and Collateral, Present Value and the Vocabulary of Finance Lecture 7 · Audio
  8. How a Long-Lived Institution Figures an Annual Budget; Yield Lecture 8 · Audio
  9. Yield Curve Arbitrage Lecture 9 · Audio
  10. Dynamic Present Value Lecture 10 · Audio
  11. Social Security Lecture 11 · Audio
  12. Overlapping Generations Models of the Economy Lecture 12 · Audio
  13. Demography and Asset Pricing: Will the Stock Market Decline when the Baby Boomers Retire? Lecture 13 · Audio
  14. Quantifying Uncertainty and Risk Lecture 14 · Audio
  15. Uncertainty and the Rational Expectations Hypothesis: Applications to Predicting Stock Prices, Default Probabilities, and Hyperbolic Discounting Lecture 15 · Audio
  16. Backward Induction and Optimal Stopping Times Lecture 16 · Audio
  17. Callable Bonds and the Mortgage Prepayment Option Lecture 17 · Audio
  18. Modeling Mortgage Prepayments and Valuing Mortgages Lecture 18 · Audio
  19. History of the Mortgage Market: A Personal Narrative Lecture 19 · Audio
  20. Dynamic Hedging Lecture 20 · Audio
  21. Dynamic Hedging and Average Life Lecture 21 · Audio
  22. Risk Aversion and the Capital Asset Pricing Theorem Lecture 22 · Audio
  23. The Mutual Fund Theorem and Covariance Pricing Theorems Lecture 23 · Audio
  24. Risk, Return, and Social Security Lecture 24 · Audio
  25. The Leverage Cycle and the Subprime Mortgage Crisis Lecture 25 · Audio
  26. The Leverage Cycle and Crashes Lecture 26 · Audio

Syllabus and materials

At Open Yale Courses, as the course publishes them.

Credits and licence

Institution
Yale University
Department
Economics
Teacher
John Geanakoplos
Term
Fall 2009
Level
Undergraduate
Language
English
Subjects
Economics
Source
Open Yale Courses
Licence
CC BY-NC-SA 3.0 US, as Open Yale Courses states it. Non-commercial use only. Open Yale Courses's terms
Attribution
Open Yale Courses, Yale University. Licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 licence; third-party material in the lectures is not.
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