Money and the Financial System: Money and payment systems, theoretical and empirical definition of money, introduction to financial instruments, financial markets and institutions – Demand for money: Theories and empirical evidences, Supply of money and Money multiplier- Central banks, monetary policy and financial stability: Structure of central banks in today’s world, central bank’s balance sheet and money supply process, interest rates versus monetary aggregates as policies in the globalized era – Bonds, Bond prices and determination of interest rates; Risk and term structure of interest rates; stocks, stock markets and efficiency, Derivatives (Futures, options and swaps).

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