1. Why  Finance?

2. Utilities,  Endowments, and Equilibrium

3. Computing  Equilibrium

4. Efficiency,  Assets, and Time

5. Present  Value Prices and the Real Rate of Interest

6. Irving  Fisher's Impatience Theory of Interest

7.  Shakespeare's Merchant of Venice, Collateral. Present Value and the  Vocabulary of Finance

8. How a  Long-Lived Institution Figures an Annual Budget. Yield

9. Yield Curve  Arbitrage

10. Dynamic  Present Value

11. Social  Security

12.  Overlapping Generations Models of the Economy

13. Demography  and Asset Pricing: Will the Stock Market Decline when the Baby Boomers  Retire?

14.  Quantifying Uncertainty and Risk

15.  Uncertainty and the Rational Expectations Hypothesis, with Applications to  Predicting Stock Prices...

16. Backward  Induction and Optimal Stopping Times

17. Callable  Bonds and the Mortgage Prepayment Option

18. Modeling  Mortgage Prepayments and Valuing Mortgages

19. History of  the Mortgage Market: A Personal Narrative

20. Dynamic  Hedging

21. Dynamic  Hedging and Average Life

22. Risk  Aversion and the Capital Asset Pricing Theorem

23. The Mutual  Fund Theorem and Covariance Pricing Theorems

24. Risk,  Return, and Social Security

25. The  Leverage Cycle and the Subprime Mortgage Crisis

26. The  Leverage Cycle and Crashes