Finance

Dozens of new finance textbooks are published annually, and this is not surprising - almost the same as Willy Satton’s answer to the judge’s question is not surprising, why he robbed the bank. The answer was simple: "so there was money there." However, it should be recognized that only once in a decade it is really innovative work, which is an example of scientific and pedagogical perfection. This book, the authors of which are Robert Merton and Zvi Bodie, we have been waiting for a long time, and now we have the opportunity to make sure that our expectations were not in vain. A good textbook is like good guilt: in order to create it, it takes a lot of time.
In the meantime, a textbook was created, one of its authors, Robert Merton, in 1997 received the Nobel Prize in the field of economics. For him, the issue of obtaining this prestigious reward was not in the possibility or impossibility of receiving it, but only in time, because this scientist is called Isaac Newton of modern financial theory. Robert Merton and Zvi Body began to cooperate fruitfully while still students of senior courses of the Massachusetts Technological Institute (USA) I was one of their teachers, and I am happy to admit that these scientists show an example of what the student is able to surpass the teacher. Today"s experts are concerned about financial issues that go far beyond the problems that at one time radically transformed the US financial world, such as the pricing of options and operations with conditional derivative instruments. Undoubtedly, these issues are extremely important both in theoretical and practical terms. However, in the best way, this long -awaited textbook is highlighted the fundamental problems of the economy of production, investment planning, personal finance management and techniques for an effective analysis of economic activity.
And I ask myself with a groan: "Oh, where were these authors when I was a student? ” Well, let the next generation of students receive abundant seeds of seeds sown today by these worthy teachers