This course provides a theoretical and practical analysis of the spot markets for money, bonds and other fixed income instruments. Topics include: money market instruments, duration and convexity of bond yields, default risk, the term structure of interest rates, interest rate volatility, financial risk management of bond portfolios, and securitization. Note: Freshmen who were admitted in fall 2008 or after and are Finance or Real Estate majors must earn a C or better in Finance 3503 to be eligible to take this course. Mode: Lecture.