Why Finance?- This lecture gives a brief history of the young field of financial theory, which began in business s...
COURSE
Financial Theory - Video Series
- This lecture explains what an economic model is, and why it allows for counterfactual reasoning and ...
- Our understanding of the economy will be more tangible and vivid if we can in principle explain all ...
- Over time, economists' justifications for why free markets are a good thing have changed. In the fir...
- Philosophers and theologians have railed against interest for thousands of years. But that is becaus...
- Building on the general equilibrium setup solved in the last week, this lecture looks in depth at th...
- While economists didn't have a good theory of interest until Irving Fisher came along, and didn't un...
- In the 1990s, Yale discovered that it was faced with a deferred maintenance problem: the university ...
- Where can you find the market rates of interest (or equivalently the zero coupon bond prices) for ev...
- In this lecture we move from present values to dynamic present values. If interest rates evolve alon...
- This lecture continues the analysis of Social Security started at the end of the last class. We desc...
- In order for Social Security to work, people have to believe there's some possibility that the world...
- In this lecture, we use the overlapping generations model from the previous class to see, mathematic...
- Until now, the models we've used in this course have focused on the case where everyone can perfectl...
- According to the rational expectations hypothesis, traders know the probabilities of future events, ...
- In the first part of the lecture we wrap up the previous discussion of implied default probabilities...
- This lecture is about optimal exercise strategies for callable bonds, which are bonds bundled with a...
- A mortgage involves making a promise, backing it with collateral, and defining a way to dissolve the...
- Suppose you have a perfect model of contingent mortgage prepayments, like the one built in the previ...
- This lecture reviews the intuition from the previous class, where the idea of dynamic hedging was in...
- Until now we have ignored risk aversion. The Bernoulli brothers were the first to suggest a tractabl...
- This lecture continues the analysis of the Capital Asset Pricing Model, building up to two key resul...
- This lecture addresses some final points about the CAPM. How would one test the theory? Given the th...
- Standard financial theory left us woefully unprepared for the financial crisis of 2007-09. Something...
- The banking industry in its organized format is not very old. A century ago banks operated in a syst...
LESSONS
Utilities, Endowments, and Equilibrium
Computing Equilibrium
Efficiency, Assets, and Time
Present Value Prices and the Real Rate of Interest
Irving Fisher's Impatience Theory of Interest
Shakespeare's Merchant of Venice and Collateral, P...
How a Long-Lived Institution Figures an Annual Bud...
Yield Curve Arbitrage
Dynamic Present Value
Financial Implications of US Social Security Syste...
Overlapping Generations Models of the Economy
Will the Stock Market Decline when the Baby Boomer...
Quantifying Uncertainty and Risk
Uncertainty and the Rational Expectations Hypothes...
Backward Induction and Optimal Stopping Times
Callable Bonds and the Mortgage Prepayment Option
Modeling Mortgage Prepayments and Valuing Mortgage...
Dynamic Hedging
Dynamic Hedging and Average Life
Risk Aversion and CAPM
The Mutual Fund Theorem and Covariance Pricing The...
Risk, Return, and Social Security
Leverage Cycle and the Subprime Mortgage Crisis
Shadow Banking: Parallel and Growing?
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