Mechanies of futures markets -- Hedging strategies using -- Hedging strategies using futures -- Interest rates -- Determination of forward and futures prices -- Interest rate futures -- Swaps -- Mechanies of option markets -- Properties stock options -- Trading strategies involving options -- Binomial trees -- Wiener processes and Ito´s lemma -- The black Scholes merton model -- Option on stock indices, currencies, and futures -- The Greek letters -- Volatility smiles -- Basic numerical procedures -- Value at risk -- Estimating volatilities and correlations -- Credit risk -- Credit derivaties -- Exotic options -- Weather, energy, and insurance derivatives -- More on models and numerical procedures -- Martingales and measures -- Interest rate derivatives: the standard market models -- Convexity, timing, and quanto adjustments -- Interest derivatives: models of the short rate -- Interest rate derivatives: HJM and LMM -- Swaps revisted -- Revisited -- Real options -- Derivatives mishaps and what we can learn from them