MOST RECENT ARTICLES AND READINGS REFLECT CHANGES IN TODAY"S FINANCIAL BUSINESS WORLD: The latest updates, articles and suggested readings at the end of each chapter keep your course abreast of the many challenges and changes throughout today"s financial crises. Internet-related information and the book"s companion web site further ensure the material you present is the most current. * EXTENSIVE, ENGAGING ILLUSTRATIONS CLARIFY CONCEPTS: A wealth of captivating, useful illustrations, including more than 100 figures and more than 100 tables throughout this edition, further expand upon and reinforce the concepts presented in the text. Figures in the text build on each other to illustrate links between stocks, risk-free bonds, futures, options, forwards, Black-Scholes call/put pricing, and similar concepts. * MINIMAL USE OF TECHNICAL MATHEMATICS KEEPS BOOK ACCESSIBLE FOR STUDENTS: While financial derivatives is unavoidably a technical subject, the authors do not emphasize calculus that is not necessary for learning material at this level. This edition uses a flexible mathematical approach that places more complex material in end-of-chapter appendices -- all while keeping the text challenging and applicable to today"s needs. * PROVEN END-OF-CHAPTER PRACTICE AND NEW TEST BANK PROBLEMS CHALLENGE STUDENTS" UNDERSTANDING: A variety of end-of-chapter problems in this book provide focused opportunities for students to apply the concepts they"ve learned. New Test Bank problems provide additional choices to easily check your students" comprehension. * ENGAGING QUOTES BEGIN EACH CHAPTER AND DIRECT THE READER"S ATTENTION TO THE CONTENT THAT FOLLOWS: This edition captures your students" attention at the beginning of the chapter as intriguing quotes turn the reader"s focus to the useful presentation of theory and applications that follow.