About The Book A First Course in Finance A First Course in Finance is the first tutorial, back-to-basics, conver- sational, and reasonably short approach to teaching an introductory finance course. It uses simple, numerical examples to explain all es- Valuation, Investments , Financing sential concepts (and formulas) of finance. The text can be used ei- ther as a standalone course text, or as a complement to a traditional Finance textbook. Early student responses have been very positive in both situations. Although suitable for self-study, this book was developed primarily to complement classroom teaching, either at the undergraduate or graduate level. It is geared towards a very dense 1-semester course or a more relaxed 2-quarter sequence.
About The Author
Ivo Welch is a professor of finance and economics at Brown University. He previously held the same position at UCLA’s Anderson School of Manage- ment and Yale University’s School of Management. More information about the author—and the latest version of this book—can be found at his website Preview Version 0.6 http://welch.econ.brown.edu/. May 17, 2005 Ivo Welch Welch