Intermediate Financial Theory, Fourth Edition provides an updated and thorough explanation of basic financial concepts, in a manner accessible both to those new to the subject and to those without a deep background in advanced mathematics. It is ideal for students with a background in Economics who are looking for an accessible yet rigorous introduction to financial theory beyond basic MBA-level textbooks. While not as dense as highly technical Ph.D. presentations tend to be, this valuable text seeks rather to integrate academic expertise with real-world experience from leading experts in the field. The fourth edition has been fully updated and is supplemented by extensive online resources.
Key Features:
- Completely updated edition of a classic textbook that fills a gap between MBA- and PhD-level texts.
- Focuses on clear explanations of key concepts and requires limited mathematical prerequisites.
- Emphasizes the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing.
- The 4th edition includes new chapters focused on the 2008-2009 financial crisis, the sustainability challenge, the safe asset shortage, discounting from a long run (climate change) perspective, and sustainable finance. It also collects, in a new separate chapter, relevant insights from a corporate finance perspective.
- Online solutions manual available for qualified instructors
- Web chapters containing additional material available
About the Web Chapters:
The web chapters complement the printed text by providing additional material that could not be included in the book. They offer updates on selected topics, further discussion of questions left open in the text, and extended treatments of concepts that benefit from a more detailed exposition. They also make available sections and chapters omitted from the printed edition, including, for example, the treatment of continuous-time finance, thereby forming an evolving companion resource designed to deepen understanding and keep the material current.