Economic Foundations for Finance - From Main Street to Wall Street

This book provides readers with essential concepts from financial economics for an integrated study of the financial system and the real economy. It discusses how long-term market prices are determined and affected by population growth, technological progress and non-renewable resources. The meaning of market prices is examined from the perspective of households and from the perspective of firms. The book therefore connects different fields of finance, which usually focus only on either the households' side or the firms' side.

List of contents

Introduction.- Financial Markets and Institutions.- The Basic Economic Model.- Extension of the Model to Capital.- Extension of the Model to an Infinite Horizon.- Extension of the Model to Uncertainty.- Extension of the Model to Exhaustible Resources.- Aggregation.- Conclusion.- Appendix: Exercises.- Mathematical Tools.- Sufficiency of the First Order Conditions.- Covariance of SDF and Returns.- References.- Index.

About the author

Thorsten Hens is a Swiss Finance Institute Professor of Financial Economics at the University of Zurich as well as an adjunct professor at the Norwegian School of Economics in Bergen and the University of Lucerne. He studied in Bonn and Paris and previously held positions in Stanford and Bielefeld.
Sabine Elmiger is a research associate at the University of Zurich and visiting scholar at the University of Cape Town. She studied at the ETH Zurich and obtained her Ph.D. from the University of Zurich.

Product details

• Authors: Sabine Elmiger, Thorsten Hens
• Publisher: Springer, Berlin
• Languages: English
• Product format: Hardback
• Released: 29.08.2019
• EAN: 9783030054250
• ISBN: 978-3-0-3005425-0
• No. of pages: 178
• Dimensions: 156 mm x 243 mm x 17 mm
• Weight: 442 g
• Illustrations: XI, 178 p. 42 illus., 15 illus. in color.
• Series: Springer Texts in Business and Economics
• Subjects: Social sciences, law, business > Business > Economics; B, Finance, macroeconomics, Economic theory & philosophy, Finance, general, Economics and Finance, Economic Theory, Macroeconomics and Monetary Economics, Macroeconomics/Monetary Economics//Financial Economics, Applications of Mathematics, Finance & accounting, Monetary Economics, Management science, Economics, Mathematical, Quantitative Finance, Quantitative Economics, Economic Theory/Quantitative Economics/Mathematical Methods