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CA (620,000)
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ECON102 (100)
Lecture 7

ECON102 Lecture Notes - Lecture 7: Dow Jones Industrial Average, High-Yield Debt, Credit Risk


Department
Economics
Course Code
ECON102
Professor
J.Scott Beesley
Lecture
7

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
Financial System:  !"#!$%&'(%("(%!&'%&()!&!*+(,(-#(!*,()!&# '!&.'',/%&'0%(
,&!( #!#-.'%&/'(*&(
%'),#( 1,*%&'!0(2&,&)%,-'+'(*0! 3'
%&,&)%,-%&'(%("(%!&'),&4 !"#5%&(!(0!),(! %'6
oFinancial Markets
oFinancial Institutions
%'%',4-" +5%'(%&)(%!&*,&+2 *', ,)(%/%&both),(! %'
7
87
Bond:) (%2),(!$%&54(5&''(,('#)%2'(!4-%,(%!&!$(4! !0 (!(!-5 !$(4!&5
oDebt Finance:',-!$,4!&5(! ,%'*!&+
o9,(%',:junk bond;<
%  %'3% %&( '( ,(
4"+ '"'",--+3&!0(,(%','),*
, ,)( %'(%)'6
o4!&5.'( *
Term:(%*"&(%-+!",/(!#,+4,)3(# %&)%#-
o4!&5.') 5%( %'3
%==9,(%$(+5$,"-(<
'%*#-)!"#!&4!&51,*#-
o!"#!&4!&5>?%&( '(@# %&)%#-
8!&58"+ #,+'@(!(:%''";,((%*A !
, B%*CD, 
8!&5E
&%(%,-8!&5,- &( '(,%5 #,+*&(!$ %&)%#-
 @
> @>
 @>
F @>
 @>
 @> @
77
Stock: # '&('!0& '%#%&,2 *,&5%'( $! ,)-,%*(!%('# !2('
Equity Finance: ',-!$,'(!)3(! ,%'*!&+
# %)',(0%)', '( ,5!&'(!)31),&', 5( *%&54+('"##-+,&55*,&5$! ('(!)3
$( ,)! #! ,(%!&%''"''(!)34+'--%&', '(!(#"4-%)('', '( ,5,*!&', !-5 '!&
! ,&%A5'(!)31),&'
# %)',(0%)', '( ,5!&'(!)31),&', 5( *%&54+('"##-+,&55*,&5$! ('(!)3
%&(')!*#,&%'
o8),"''(!)3 # '&('!0& '%#%&,)! #! ,(%!&(5*,&5$! ,'(!)3B,&5( $! %('# %)E
G)('#!#-.'# )#(%!&!$()! #! ,(%!&.'$"(" # !2(,4%-%(+
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