The Stocks and Bonds of World Financial History

This semester, students of World Financial History, led by Professor William Goetzmann, have been exploring the history of finance from its earliest beginnings to the modern era. Each class focuses on a different topic in financial history and its implications for understanding current events. Students learn about the roots of financial crises, the origins and purpose of corporations, the legal framework for financial contracts, investment banking, sovereign debt, initial public offerings, financing of international trade, collateralized lending, central banking, options, mutual funds, the time value of money, property rights, methods of risk mitigation, valuation with uncertainty, the efficient market theory, the equity premium, securitization and mortgages, international diversification and the political implications of capitalism and international financial institutions.

For one assignment, students are asked to analyze the purpose, form and significance of a specific financial security from history. On this day, students studied historical financial history documents from the International Center for Finance (ICF). The important collection of domestic and international pieces has been generously funded by ICF board members, Juan Carlos Garcia and Nitin Gambhir. 

Learn more about the ICF's collection at the Origins of Value Virtual Museum.