Lecture 1 |
Why Finance? |

Lecture 2 |
Utilities, Endowments, and Equilibrium |

Lecture 3 |
Computing Equilibrium |

Lecture 4 |
Efficiency, Assets, and Time |

Lecture 5 |
Present Value Prices and the Real Rate of Interest |

Lecture 6 |
Irving Fisher’s Impatience Theory of Interest |

Lecture 7 |
Shakespeare’s Merchant of Venice and Collateral, Present Value and the Vocabulary of Finance |

Lecture 8 |
How a Long-Lived Institution Figures an Annual Budget; Yield |

Lecture 9 |
Yield Curve Arbitrage |

Lecture 10 |
Dynamic Present Value |

Lecture 11 |
Social Security |

Lecture 12 |
Overlapping Generations Models of the Economy |

Lecture 13 |
Demography and Asset Pricing: Will the Stock Market Decline when the Baby Boomers Retire? |

Lecture 14 |
Quantifying Uncertainty and Risk |

Lecture 15 |
Uncertainty and the Rational Expectations Hypothesis: Applications to Predicting Stock Prices, Default Probabilities, and Hyperbolic Discounting |

Lecture 16 |
Backward Induction and Optimal Stopping Times |

Lecture 17 |
Callable Bonds and the Mortgage Prepayment Option |

Lecture 18 |
Modeling Mortgage Prepayments and Valuing Mortgages |

Lecture 19 |
History of the Mortgage Market: A Personal Narrative |

Lecture 20 |
Dynamic Hedging |

Lecture 21 |
Dynamic Hedging and Average Life |

Lecture 22 |
Risk Aversion and the Capital Asset Pricing Theorem |

Lecture 23 |
The Mutual Fund Theorem and Covariance Pricing Theorems |

Lecture 24 |
Risk, Return, and Social Security |

Lecture 25 |
The Leverage Cycle and the Subprime Mortgage Crisis |

Lecture 26 |
The Leverage Cycle and Crashes |