This course provides an overview and analysis of the market for debt obligations of state and local governments. Topics will include the micro structure of the market, including the types of debt issued, and characteristics of the buyers. Federal and state taxation of munis will be discussed, along with industry regulatory structure. Bond structure, risk assessment and risk management using cash bonds, futures and options will be covered.
Prerequisites: FRE 6411 and Graduate Standing
Additional material: FRE 6491 MUNICIPAL FINANCE.pdf