Lecture slides
Slides for each day
Eight connected decks take the course from dated cash flows and market risk to derivative contracts, policy surprises and digital monetary infrastructure. Technical derivations, worked solutions and computational links sit beside the relevant lecture material rather than interrupt its main argument.
Week One · Valuation and capital markets
Cash-flow timelines, discounting, rate conventions, NPV, annuities and perpetuities, real rates, spot rates and forward rates.
Bond cash flows, yield to maturity, spot-rate valuation, the price–yield relation, duration, convexity and interest-rate stress.
Payout and free-cash-flow valuation, enterprise and equity value, growth opportunities, terminal value, multiples and sensitivity.
Returns, covariance, diversification, portfolio risk, beta, the security market line, CAPM cost of equity and empirical limits.
Week Two · Risk transfer, information and digital finance
Contract mechanics, no-arbitrage forward pricing, cost of carry, futures margin, hedging, basis risk and hedge effectiveness.
Call and put contracts, payoff and profit, moneyness, intrinsic and time value, price bounds, put–call parity and simple strategies.
Futures-implied expectations, monetary-policy surprises, event windows, yield-curve responses, target and path news, and central-bank language.
Money and claims; Bitcoin's design and market; stablecoin reserves and redemption; CBDC; payment initiation, clearing, settlement and finality.
