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Derivatives Markets: International Edition de Professor Robert L. McDonald PhD

Derivatives Markets: International Edition

Autor Professor Robert L. McDonald PhD
en Limba Engleză Mixed media product – 28 feb 2005
To be financially literate in today’s market, business students must have a solid understanding of derivatives concepts and instruments and the uses of those instruments in corporations.  The Second Edition has an accessible mathematical presentation, and more importantly, helps students gain intuition by linking theories and concepts together with an engaging narrative that emphasizes the core economic principles underlying the pricing and uses of derivatives.
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Specificații

ISBN-13: 9780321311498
ISBN-10: 0321311493
Pagini: 912
Dimensiuni: 187 x 232 mm
Greutate: 1.49 kg
Ediția:2Nouă
Editura: Pearson Education
Colecția Pearson Education
Locul publicării:Upper Saddle River, United States

Cuprins

 
Chapter 1  Introduction to Derivatives
 
Part I  Insurance, Hedging, and Simple Strategies
 
Chapter 2  An Introduction to Forwards and Options
 
Chapter 3  Insurance, Collars, and Other Strategies
 
Chapter 4  Introduction to Risk Management
 
Part II  Forwards, Futures, and Swaps
 
Chapter 5  Financial Forwards and Futures
 
Chapter 6  Commodity Forwards and Futures
 
Chapter 7  Interest Rates Forwards and Futures
 
Chapter 8  Swaps
Part III  Options
Chapter 9  Parity and Other Option Relationships
 
Chapter 10  Binomial Option Pricing: I  
Chapter 11  Binomial Option Pricing: II  
Chapter 12  The Black-Scholes Formula
 
Chapter 13  Market-Making and Delta-Hedging  
Chapter 14  Exotic Options: I
Part IV  Financial Engineering and Applications
 Chapter 15  Financial Engineering and Security Design
 
Chapter 16  Corporate Applications
 
Chapter 17  Real Options
 
Part V   Advanced Pricing Theory
 
Chapter 18  The Lognormal Distribution
 
Chapter 19  Monte Carlo Valuation
 
Chapter 20  Brownian Motion and Ito’s Lemma
 
Chapter 21  The Black-Scholes Equation
 
Chapter 22  Exotic Options:  II
 
Chapter 23  Interest Rate Models
 
Chapter 24  Risk Assessment
 
Chapter 25  Credit Risk
 
Chapter 26  Volatility

Caracteristici

  • Concrete Applications complement the pricing discussions. Chapters on financial engineering, corporate applications, and real options all address practical problems.
  • An emphasis on core economic principles helps students develop a deeper, more intuitive understanding of derivatives markets and instruments.  For example, the idea that options are a form of insurance is presented at the outset.
  • Integrated treatment of forward contracts and options. The initial chapters cover both forwards and options, illustrating how they are used and incorporating an extended example of hedging by gold-mining and gold-buying firms. This approach helps to unify option pricing; in particular, it makes it clear that the formula for pricing stock options is the same as the formula for pricing currency options.
  • Formulas are motivated, placed in context, and explained intuitively. The goal is to help students build intuition about pricing models through their applications so they can know when a price does not make sense and why. The author provides the student with a framework for thinking about commonality among various derivative instruments.
  • The Theme of Applied Computation is emphasized.  Using the pre-programmed Excel spreadsheets that are packaged with the book, students can become more comfortable and fluent with pricing models and their use in spreadsheets, even before they understand the precise mathematical underpinnings.

Caracteristici noi

  • A new chapter on Credit Risk examines the burgeoning market in credit default swaps and related products.
  • A new chapter on Volatility covers volatility estimation, hedging and pricing options with stochastic volatility.
  • An all-new problems book with solutions for every chapter is available to supplement problems in the book.
  • Enhanced option pricing software.
  • A case book is available for instructors who wish to incorporate cases in their teaching. Choose to package McDonald’s text with the well-respected Risk Takers: Uses and Abuses of Financial Derivatives by John Marthinsen. Risk Takers profiles seven real-life situations in which financial derivatives resulted in fabulous success or spectacular failure while also exploring some everyday uses of derivatives, such as stock options. Beyond simple case studies, this book fully explores the events, providing context and discussing outcomes.