List of Figures Preface 1 Asset markets and asset prices 2 Asset market microstructure 3 Predictability of prices and market efficiency 4 Decision making under uncertainty 5 Portfolio selection:the mean—variance model 6 The capital asset pricing model 7 Arbitrage 8 Factor models and the arbitrage pricing theory 9 Empirical appraisal of the CAPM and APT 10 Present value relationships and price variability 11 Intertemporal choice and the equity premium puzzle 12 Bond markets and fixed—interest securities 13 Term structure of interest rates 14 Futures markets Ⅰ:fundamentals 15 Futures markets Ⅱ:speculation and hedging 16 Futures markets Ⅲ:applications 17 Swap contracts and swap markets 18 Options markets Ⅰ:fundamentals 19 Options markets Ⅱ:price determination 20 Options markets Ⅲ:applications