The sixteenth edition of Introduction to Finance: Markets, Investments, and Financial Management builds upon the successes of its earlier editions while maintaining fresh and upto- date coverage of the fi eld of fi nance. This edition introduces several new electronic features to assist with student access to the textbook and with learning. Our text is designed to present a more-balanced fi rst course in fi nance, one that off ers students perspectives on fi nancial markets, investing, and fi nancial management. We use a successful pedagogy that reviews, fi rst, markets and institutions; then, the world of investments; and fi nally, the concepts and applications of business fi nancial management. Unlike other textbooks with a singular “corporate fi nance” focus, our text off ers a balanced fi rst course in fi nance. Eighteen chapters cover the three major fi nancial areas involving the fi nancial system, investments, and business fi nance. For the student who does not plan to take additional courses in fi nance, this book provides a valuable overview of the discipline’s major concepts. For the student who wants to take additional courses in fi nance, the overview presented provides a solid foundation upon which future courses can build. Introduction to Finance is meant to be used in a course whose purpose is to survey the foundations of the fi nance discipline. As such, it is designed to meet the needs of students in various programs.
Specifi cally, Introduction to Finance can be used in any of the following four ways:
1. As the fi rst course in fi nance at a college or university where the department wants to expose students to a broad foundational survey of the discipline.
2. As the fi rst and only course in fi nance for nonfi nance business students.
3. As an appropriate text to use at a school that seeks to provide liberal arts majors with a business minor or business concentration. The writing level is appropriate to provide students with a good foundation in the basics of our discipline.
4. As a “lower division” service course whose goal is to attract freshmen and sophomores to business and to attract them to become fi nance majors.