As the world economy has shifted toward globalization, the importance of futures and options markets has grown dramatically; in turn, these markets have evolved to better serve the increasingly global economy. However, even with the trading volume expanding every year, futures and options contracts and markets remain poorly understood. Carters text introduces readers to this dynamic, exciting subject in an accessible and lively way. Using a perspective grounded in economics rather than complex mathematics, he presents an integrated explanation of the market institutions, theory, and empirical evidence. The text begins with the fundamentals of commodity futures and, unlike other texts, continues on to extensively discuss financial futures and options markets, including currencies and equity indexes. Geared to the novice reader, mathematics and formulas are kept to a minimum, while numerous real-world examples explain how practitioners use futures and options markets. Whether interested in business, economics, or agricultural and applied economics, readers will appreciate futures and options markets as a thriving laboratory for discovering economic theory in action.
"The authors present a systematic and incisive study of five interrelated areas: an exploration of the causes of the slowdown in agricultural output growth since the mid-1980s; the role of both output and input markets in agricultural development; the problem of excess labor in agriculture; the potential of rural industrial development to absorb excess labor; and financial flows - taxation, government expenditure, rural household savings, and investment - in relation to agricultural growth. The authors conclude with suggestions for fundamental changes in China's agricultural policy that are needed if the nation is to feed its 1.2 billion people."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved