CHAPTER 1
The Financial Environment
Chapter Learning Objectives...
AFTER STUDYING THIS CHAPTER, YOU SHOULD BE ABLE TO DO THE FOLLOWING:
- Define finance and explain why finance should be studied.
- Identify several major career opportunities in finance.
- Identify and describe the six principles of finance.
- Identify characteristics and components of an effective financial system.
- Describe the financial functions performed in an effective financial system.
- Briefly describe the four types of financial markets.
Where We Have Been...
As we progress through this book, we start each chapter with a brief review of previously covered materials. This will provide you with a reference base for understanding the transition from topic to topic. After completing the text, you will be at the beginning of what we hope is a successful business career.
Where We Are Going...
The financial environment within which we live and work is composed of a financial system, institutions, and markets. Part 1 of this text focuses on developing an understanding of the financial institutions and markets that operate to make the financial system work efficiently. Chapter 2 describes the U.S. monetary system, including ...
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