Defining Finance Financial System When implementing decisions, people make use of the Financial System defined as the set of markets and other institutions used for financial contracting and exchange of assets and risks Examples: Markets:stock markets,bond markets,derivative markets Institutions:banks,insurance companies,financial advisory firms THE COURSE OF FINANCE 2017 SPRING 12Defining Finance  Financial System : When implementing decisions, people make use of the Financial System defined as the set of markets and other institutions used for financial contracting and exchange of assets and risks  Examples:  Markets: stock markets, bond markets, derivative markets  Institutions：banks, insurance companies, financial advisory firms THE COURSE OF FINANCE 2017 SPRING •12