Financial Markets
本课程全面介绍金融市场的结构、功能与运行机制，涵盖货币市场、债券市场、股票市场、外汇市场和衍生品市场。课程深入讲解各类金融工具的特征与定价、市场参与者的角色与行为、一级市场发行与二级市场交易机制、以及市场监管框架。通过分析真实市场案例和金融事件，学生将理解金融市场在资源配置和经济运行中的核心作用，把握市场微观结构与价格发现过程。
This course provides comprehensive coverage of financial market structure, function, and operation, including money markets, bond markets, stock markets, foreign exchange, and derivatives. It examines financial instruments, market participants, primary issuance and secondary trading mechanisms, and regulatory frameworks. Real-world case studies build understanding of market microstructure and price discovery.
学生选取10只不同期限和信用评级的国债与企业债券，构建一个债券投资组合。需要计算每只债券的久期和凸性，分析组合的利率风险敞口。模拟利率上升和下降200个基点的情景，评估组合市值变化。同时运用免疫策略设计一个5年期负债的免疫组合，并讨论收益率曲线变动对策略有效性的影响。
Students select 10 government and corporate bonds with varying maturities and credit ratings to build a bond portfolio. They calculate duration and convexity for each bond, analyze interest rate risk exposure, and simulate portfolio value changes under ±200 basis point rate scenarios. An immunization strategy for a 5-year liability is designed, with discussion of yield curve shifts.