University of North Carolina, Chapel HillECON 423lecture8_financial_structure

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Lecture 8 An Economic Analysis of Financial Structure• Financial Markets - Bond Market - Stock Market - (Derivatives Markets) - Foreign Exchange Market • Financial Intermediaries (Instituti... ons) - Overview: structure - Who and what they do: Commercial banks (& Nonbank finance) - Regulation and Financial Crises • Central Banks and Monetary Policy • Monetary theory Big Picture• Chapter 8 • Motivation: Why does an economy need a financial system? What does a financial system do? - It moves funds to promote production: savers à users • What does the financial structure look like? Why? How is "designed" to promote economic efficiency? - Why do we need financial intermediation? Preview• Basic concepts - Direct finance & Indirect finance • Financial structure: a few facts • [Show More]

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