Project Description
Financial Markets, Institutions and Money, 5th Edition
Kidwell, Brimble, Docherty, Mazzola, Basu
Print ISBN: 9781394333905, Interactive eText ISBN: 9781394333912
Available from semester 1, 2026. Financial Markets, Institutions and Money, 5th Edition provides Finance majors with a structured foundation in the institutions, markets, and instruments that shape financial activity in Australia and the broader Asia-Pacific region. It covers key regulatory bodies such as the Reserve Bank of Australia and the Reserve Bank of New Zealand, while also examining the financial systems of neighbouring economies and major trading partners.
The interactive eText is available in our low-cost subscription platform, Wiley Business Now. It also includes an Instructor Resource Toolkit and is supported by our local Wiley team.
Table of contents
1.1 The financial system
1.2 Financial markets
1.3 Financial institutes
1.4 International financial markets
1.5 Capital market efficiencies
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
2.1 Money markets
2.2 Capital markets
2.3 Bond markets
2.4 Equity markets
2.5 Derivative markets
2.6 Foreign exchange markets
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
3.1 The origins and role of central banking authorities
3.2 Reserve Bank of Australia
3.3 Australian Prudential Regulation Authority
3.4 Australian Securities and Investments Commission
3.5 Bank for International Settlements
3.6 Central banking systems around the globe
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
4.1 Money supply
4.2 Cash rate
4.3 Monetary policy
4.4 Economic activity
4.5 Determinants of interest rates
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
5.1 Cash flows, interest and the time value of money
5.2 Simple interest
5.3 Simple discount using commercial bills
5.4 Compound interest
5.5 Future and present value of several equations
5.6 Present and future value of unequal amounts
5.7 An application of annuities – bonds
Concept check
Summary
Key terms
Summary of key equal sums
Questions and problems
Appendix 1: Pv and fv tables
Appendix 2: Maths refresher
Endnotes
Acknowledgements
6.1 The time value of money
6.2 Bond pricing
6.3 Bond yields
6.4 Bond theoroms
6.5 Interest rate risk and duration
6.6 Duration and bond properties
Concept check
Summary
Key terms
Summary of key equations
Questions and problems
Endnotes
Acknowledgements
7.1 The term structure of interest rates
7.2 Default risk
7.3 Marketability
7.4 Options on debt securities
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Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
8.1 Role of the money markets
8.2 Characteristics of money-market instruments
8.3 The cash market
8.4 Repurchase agreements
8.5 One-name paper
8.6 Treasury notes
8.7 Commercial paper
8.8 Negotiable certificates of deposit
8.9 Asset-backed commercial paper
8.10 Bank-accepted bills
8.11 Money-market participants
8.12 The interrelationship of money-market interest rates
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
9.2 Corporate bonds
9.3 Bond valuation
9.4 Bond yields
9.5 Interest rate risk
9.6 The structure of interest rates
9.7 The term structure of interest rates
Concept check
Summary
Key terms
Summary of key equations
Questions and problems
Endnotes
Acknowledgements
10.1 The market for shares
10.2 Ordinary and preference shares
10.3 General dividend valuation model
10.4 Share valuation: some simplifying assumptions
10.5 Valuing preference shares
Concept check
Summary
Key terms
Summary of key equations
Questions and problems
Endnotes
Acknowledgements
11.1 The nature of forwards and futures
11.2 Uses of the financial futures market
11.3 Risks in the future markets
11.4 Options markets
11.5 Regulation of the futures and options markets
11.6 Swap markets
Concept check
Summary
Key terms
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Endnotes
Acknowledgements
12.1 The difficulties of international trade
12.2 The operations of foreign exchange markets
12.3 Balance of payments
12.4 Eurocurrency markets
12.5 The globalisation of financial markets
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
13.1 Reasons for regulation
13.2 The prudential supervision framework
13.3 Prudential regulation in Australia
13.4 National Credit Code
13.5 Financial Ombudsman Service
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Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
14.1 The Australian banking industry
14.2 Balance sheet for a commercial bank
14.3 Off-balance- sheet banking
14.4 Bank performance
14.5 Liquidity management
14.6 Bank capital management
14.7 Managing credit risk
14.8 Managing interest rate risk
Concept check
Summary
Key terms
Summary of key equations
Questions and problems
Endnotes
Acknowledgements
15.1 Nonbank financial institutions
15.2 Permanent building societies
15.3 Credit unions
15.4 Financial companies
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
16.1 Development of international banking
16.2 Structuring overseas banking services
16.3 International banking activities
16.4 International banking risks
16.5 Regulation of overseas banking activities
16.6 International activities of Australian banks
16.7 Foreign banks in Australia
16.8 Future directions of international banking
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
17.1 Insurance companies
17.2 How insurance companies make money
17.3 Type of insurance
17.4 Investment companies
17.5 Types of managed funds in Australia
17.6 Superannuation
17.7 Cash management trusts
17.8 Hedge funds
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
18.1 The relationship between commercial and investment banks
18.2 History of investment banking
18.3 Investment banking in Australia
18.4 Regulations of investment banking activities in Australia
18.5 Primary services of an investment bank
18.6 Venture capital
Concept check
Summary
Key terms
Questions and problems
Endnotes
Acknowledgements
Authors
David S. Kidwell (University of Minnesota)
Mark Brimble (Griffith)
Paul Docherty (Monash)
Paul Mazzola (UoW)
Anup Basu (QUT)
Explore our content
This comprehensive text provides a detailed introduction to Australia’s financial system and its global connections.
Financial Markets, Institutions and Money reflects the realities of the modern financial system, with updated content that addresses current regulatory changes, the evolving role of the RBA, and the growing importance of sustainability and ESG in financial decision-making.
New material on cryptocurrency and decentralised finance introduces students to emerging trends, while a dedicated chapter on sustainability highlights the sector’s role in supporting Australia’s transition to a low-emissions economy. All content has been reviewed to align with local standards, legislation, and professional expectations—ensuring students are learning from a resource that’s both relevant and up to date.
What’s in Financial Markets, Institutions and Money, 5th Edition?
New to this edition:
- New chapter on sustainability: Added Chapter 19: Sustainability and the Finance Sector, providing deeper insights into sustainable finance.
- Cryptocurrency & decentralised finance: Introduces new sections on cryptocurrency and DeFi, exploring their impact on financial markets.
- Regulatory updates: Incorporates changes to professional standards, regulations, and legislation, including APRA’s updates to prudential supervision.
- Updated data & case studies: Includes the latest statistics, examples, references, and hyperlinks to ensure accuracy and relevance.
- Central banking revisions: Updated content on the RBA and the evolving role of central banks.
- Sustainability & ESG: Expanded coverage on sustainability and environmental, social, and governance (ESG) factors, with a stronger focus on ESG in investing.
Key features:
- Australian financial system focus: Provides a detailed overview of Australia’s financial institutions and markets, examining their structure, functions, and role in the economy.
- Monetary authorities analysis: Explores key regulatory bodies, including the Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand, highlighting their impact on monetary policy and financial stability.
- Focus on financial mathematics: A dedicated chapter revises essential concepts, offering supplementary support for broader financial reporting studies.
- Demonstration problems: Quantitative problems with step-by-step solutions are throughout the text to help students better understand how to apply their intuition and analytical skills to solve important problems.
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Available as a digital eText or printed textbook, this title enables every student to master concepts and succeed in assessment. Lecturers are supported with an extensive, easy-to-use teaching and learning package.
A dedicated chapter to monetary authorities analysis, delves into key regulatory bodies, such as the Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand, discussing their influence on monetary policy and financial stability.
Monetary authorities analysis
Quantitative problems with step-by-step solutions are throughout the text to help students better understand how to apply their intuition and analytical skills to solve important problems.
Demonstration problems
The new edition features expanded coverage on sustainability and environmental, social, and governance (ESG) factors, with a stronger focus on ESG in investing.
Sustainability & ESG coverage
A dedicated chapter on financial mathematics revises essential concepts, offering supplementary support for broader financial reporting studies.
Featured: Financial Mathematics chapter
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