About this Course
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Beginner Level

Approx. 38 hours to complete

Suggested: 7 weeks of study, 3 - 4 hours per week ...


Subtitles: English

Skills you will gain

Behavioral FinanceFinancial MarketsFinanceBehavioral Economics

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Beginner Level

Approx. 38 hours to complete

Suggested: 7 weeks of study, 3 - 4 hours per week ...


Subtitles: English

Syllabus - What you will learn from this course

4 hours to complete

Module 1

Welcome to the course! In this opening module, you will learn the basics of financial markets, insurance, and CAPM (Capital Asset Pricing Model). This module serves as the foundation of this course.

23 videos (Total 184 min), 1 reading, 5 quizzes
23 videos
Financial Markets Introduction8m
Your Teaching Assistant, Arun!1m
Good and Evil3m
VaR and Stress Tests8m
S&P 50013m
Joe McNay Story1m
Distribution and Outliers9m
Chalk Talk - Covariance11m
Insurance Fundamentals10m
Insurance Milestones6m
Insurance is a Local Phenomenon6m
Health Insurance6m
Eggs in One Basket7m
Salon - Risk13m
Chalk Talk: Beta7m
Chalk Talk: CAPM and Diversification8m
Short Sales7m
Calculating the Optimal Portfolio9m
Efficient Portfolio Frontier10m
Chalk Talk - Gordon Growth Model9m
1 reading
Pre-Course Survey10m
5 practice exercises
Lesson #1 Quiz8m
Lesson #2 Quiz12m
Lession #3 Quiz10m
Lesson #4 Quiz10m
Module 1 Honors Quiz28m
3 hours to complete

Module 2

In this next module, dive into some details of behavioral finance, forecasting, pricing, debt, and inflation.

17 videos (Total 139 min), 4 quizzes
17 videos
Salon - Innovation4m
Limited Liability7m
Inflation Indexed Debt5m
Unidad de Fomento4m
Real Estate: Risk Management Devices5m
Intuition of Efficiency12m
Price as PDV5m
Doubting Efficiency6m
Introduction to Behavioral Finance6m
Prospect Theory18m
Chalk Talk - More on Prospect Theory5m
Logical Fallacies9m
The Brain11m
Magical Thinking8m
Personality Disorders5m
4 practice exercises
Lesson #5 Quiz10m
Lesson #6 Quiz8m
Lesson #7 Quiz12m
Module 2 Honors Quiz22m
3 hours to complete

Module 3

Stocks, bonds, dividends, shares, market caps; what are these? Who needs them? Why? Module 3 explores these concepts, along with corporation basics and some basic financial markets history.

18 videos (Total 137 min), 3 quizzes
18 videos
Federal Funds and Interest Rates10m
Compound Interest3m
Discount Bonds11m
Consol and Annuity8m
Forward Rates and Expectation Theory4m
Market Capitalization by Country6m
The Corporation8m
Shares and Dividends11m
Common vs. Preferred2m
Corporate Charter8m
Corporations Raise Money8m
Share Repurchase6m
PDV of Expected Dividends11m
Why do firms pay dividends?8m
3 practice exercises
Lesson #8 Quiz16m
Lesson #9 Quiz18m
Module 3 Honors Quiz28m
6 hours to complete

Module 4

Take a look into the recent past, exploring recessions, bubbles, the mortgage crisis, and regulation.

22 videos (Total 189 min), 4 quizzes
22 videos
History of Mortgage Lending3m
Commercial Real Estate Vehicles11m
Mortgages, part 19m
Mortgages, part 29m
Post Crisis Regulation8m
Chalk Talks - Excess Reserves9m
The Bubble, part 17m
The Bubble, part 25m
The Bubble, part 311m
Salon - Bubbles13m
Regulation Overview7m
Salon - Regulation and housing10m
Within Firm Regulation, part 15m
Within Firm Regulation, part 27m
Trade Groups4m
Local Regulation3m
National Regulation, part 113m
National Regulation, part 215m
National Regulation, part 311m
International Regulation6m
3 practice exercises
Lesson #10 Quiz16m
Lesson #11 Quiz18m
Module 4 Honors Quiz18m
3 hours to complete

Module 5

Options and bond markets are explored in module 5, important components of financial markets.

16 videos (Total 125 min), 3 quizzes
16 videos
Forwards and Futures Introduction7m
Forward Contracts7m
Futures Contracts4m
Rice Futures13m
Wheat Futures8m
Buying, Selling, and Settlement10m
Fair Value in Futures Contracts4m
Oil Futures14m
SPI & FFR Futures5m
Options Overview5m
Reading Options Pricing7m
Why Options exist9m
Ubiquity of Options5m
Put / Call parity9m
Using Options to Hedge7m
3 practice exercises
Lesson #12 Quiz18m
Lesson #13 Quiz12m
Module 5 Honors Quiz6m
3 hours to complete

Module 6

In module 6, Professor Shiller introduces investment banking, underwriting processes, brokers, dealers, exchanges, and new innovations in financial markets.

19 videos (Total 141 min), 4 quizzes
19 videos
The Underwriting Process11m
Goldman Sachs and John Whitehead4m
Ratings Agencies4m
Glass Steagall4m
Net Worth of the US8m
The Prudent Person4m
Salon - Advisors9m
Mutual Funds and ETFs9m
Brokers and Dealers8m
Limit Order Book4m
High Frequency Trading5m
Payment for Order Flow6m
Government Debt11m
Government involvement in Corporations6m
Municipal Finance9m
Government Social Insurance11m
4 practice exercises
Lesson #14 Quiz16m
Lesson #15 Quiz10m
Lesson #16 Quiz8m
Module 6 Honors Quiz12m
4 hours to complete


Professor Shiller's final module includes lectures about nonprofits and corporations, and your career in finance.

15 videos (Total 194 min), 1 reading, 3 quizzes
15 videos
Alternative Forms5m
Salon - Public vs. Private5m
Critics of Modern Finance5m
Democratization of Finance9m
Salon - Democratization of Finance8m
Finance and War8m
Finance and Population Growth2m
The Importance of Financial Theory4m
Wealth and Poverty7m
Your Career and Finance9m
Interview with Roger Ferguson25m
Interview with Lei Zhang16m
Guest Georgia Keohane1h 5m
1 reading
Post-Course Survey10m
3 practice exercises
Lesson #17 Quiz10m
Lesson #18 Quiz10m
Final Exam42m
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Top reviews from Financial Markets

By MKJun 8th 2018

Through this course, I have learned not only technical financial terms but much deeper meaning of the financial markets which I always wanted to understand. I feel very lucky that I took this course.

By EMNov 4th 2018

This was really a great experience. A course taught by a valued teach. Enjoyed it all the way though I would have liked more mathematical and theoretical models. But then where do you end in a MOOC ?



Robert Shiller

Sterling Professor of Economics at Yale University

About Yale University

For more than 300 years, Yale University has inspired the minds that inspire the world. Based in New Haven, Connecticut, Yale brings people and ideas together for positive impact around the globe. A research university that focuses on students and encourages learning as an essential way of life, Yale is a place for connection, creativity, and innovation among cultures and across disciplines. ...

Frequently Asked Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

  • Professor Shiller has made some pretty amazing updates to his course; not only do you see updated lectures from 2016-2017, he also has additional videos which include student salons, chalk talks, interviews, and TA timeouts. Join us in the course, watch the introductory module, and learn more about these great additions to increase your knowledge of financial markets!

More questions? Visit the Learner Help Center.