Capital Markets (20067). 3 units. Capital Markets is a course covering a range of topics, including the design, pricing, and trading of corporate bonds, structured notes, hybrid securities, credit derivatives, and structured products, such as asset-backed securities and collateralized debt obligations. This course aims to provide a set of tools, concepts, and ideas that will serve students over the course of a career. Basic tools such as fixed income mathematics, swaps and options are studied and used to address security design, trading, and pricing questions. Topics are approached from different angles: conceptual and technical theory, cases, documents (e.g., bond prospectuses, consent solicitations), and current events. Students should have taken introductory finance and have some knowledge of basic statistics (e.g., regression analysis, conditional probability), basic mathematics (e.g., algebra, matrix algebra); working knowledge of a spreadsheet package is helpful. Two examinations, six cases, and fourteen homework problems. Also MGT 947a. G. Gorton.
Note: This course will meeting according to the Yale School of Management calendar.