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Last updated:

September 26, 2023

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This course includes:

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Description

ECON 251: Financial Theory (Fall 2009, Open Yale Courses). Instructor: Professor John Geanakoplos. This course attempts to explain the role and the importance of the financial system in the global economy.

Rather than separating off the financial world from the rest of the economy, financial equilibrium is studied as an extension of economic equilibrium. The course also gives a picture of the kind of thinking and analysis done by hedge funds. (from oyc.yale.edu)

Course Curriculum

  • Lecture 01 – Why Finance? Unlimited
  • Lecture 02 – Utilities, Endowments, and Equilibrium Unlimited
  • Lecture 03 – Computing Equilibrium Unlimited
  • Lecture 04 – Efficiency, Assets, and Time Unlimited
  • Lecture 05 – Present Value Prices and the Real Rate of Interest Unlimited
  • Lecture 06 – Irving Fisher’s Impatience Theory of Interest Unlimited
  • Lecture 07 – Shakespeare’s Merchant of Venice and Collateral Unlimited
  • Lecture 08 – How a Long-Lived Institution Figures an Annual Budget; Yield Unlimited
  • Lecture 09 – Yield Curve Arbitrage Unlimited
  • Lecture 10 – Dynamic Present Value Unlimited
  • Lecture 11 – Social Security Unlimited
  • Lecture 12 – Overlapping Generations Models of the Economy Unlimited
  • Lecture 13 – Demography and Asset Pricing Unlimited
  • Lecture 14 – Quantifying Uncertainty and Risk Unlimited
  • Lecture 15 – Uncertainty and the Rational Expectations Hypothesis Unlimited
  • Lecture 16 – Backward Induction and Optimal Stopping Times Unlimited
  • Lecture 17 – Callable Bonds and the Mortgage Prepayment Option Unlimited
  • Lecture 18 – Modeling Mortgage Prepayments and Valuing Mortgages Unlimited
  • Lecture 19 – History of the Mortgage Market: A Personal Narrative Unlimited
  • Lecture 20 – Dynamic Hedging Unlimited
  • Lecture 21 – Dynamic Hedging and Average Life Unlimited
  • Lecture 22 – Risk Aversion and the Capital Asset Pricing Theorem Unlimited
  • Lecture 23 – The Mutual Fund Theorem and Covariance Pricing Theorems Unlimited
  • Lecture 24 – Risk, Return, and Social Security Unlimited
  • Lecture 25 – The Leverage Cycle and the Subprime Mortgage Crisis Unlimited
  • Lecture 26 – The Leverage Cycle and Crashes Unlimited

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