昆士兰大学 金融市场经济学教学课件Lecture 3 Behavior of Interest Rates.pdfVIP

Economics of Financial Markets – Lecture 3 Nhan Phan School of Economics Review: the concepts from the last week • Present value • A simple loan • Fixed payment loan • Coupon bond • Discount bond • Yield to maturity • Interest rates risk • The distinction between interest rates and returns • The distinction between real and nominal interest rates • Fisher equation Preview • The topic is “the behavior of interest rates.” • Today, we examine how the overall level of nominal interest rates is determined and which fa