Contents written by Cem Demiroglu
Last modified on July 26, 2009.
MFIN 514 - Financial Institutions and Capital Markets
(NEW!) Final exam
1. An overview of the financial system and the role of financial institutions (Class 1)
Lecture Notes #2 (on the theory of financial intermediation)
Akerlof on "lemons" problem (focus on examples on pp. 492-500)
Gorton et al. on financial intermediation (optional reading)
Rajan: Do we still need commercial banks?
Saunders & Cornett (S&C), Chapters 1-7
2. Banking & syndicated lending (Classes 2 & 3)
S&P Guide to the Syndicated Loan Market
S&C, Chapters 13, 26 & 27
Hong Kong Syndicated Lending Case
3. Interest rate risk & market risk (Classes 4 & 5)
Lecture Notes #1 (supplement EXCEL sheet)
Lecture Notes #2 (lecture summary)
S&C Chapters 8-10, 23-25
Measuring market risk with VAR
4. Small business finance (Class 6)
Lecture Notes (lecture summary)
Financial contracting in venture capital
5. Credit risk & securitization (Classes 7 & 8)
S&C, Chapters 11-12
Duffie on innovations in credit risk transfer (CRT)
6.Liquidity risk, too-big-to-fail & financial crises (Classes 9 & 10)
Haubrich et al. on financial crisis
Brunnermeier on 2007-08 crisis
S&C, Chapters 17-18
7. The sub-prime mortgage debacle (Class 11)
The rise and fall of subprime mortgages
Frictions in subprime mortgage securitization
All lecture notes are in Adobe Acrobat format (.pdf). To download the Adobe Acrobat reader, click here.
Contents written by Cem
Demiroglu
Last modified on July 26, 2009.