This course offers a thorough introduction to both private and public capital markets, with a focus on municipal bond markets. Students learn about important institutional stakeholders (investors, rating agencies, finance agencies, underwriters, and beneficiaries) and are introduced to the basic theoretical and practical tools needed to analyze financial conditions pertinent to both domestic and international capital markets. Particular emphasis is placed on the evolving fields of community development investment in the United States and emerging markets. This course provides the background necessary for participation in many of the school’s other finance courses and labs. Understanding of basic microeconomics and/or quantitative methods is advisable, but the instructor may grant permission to enroll in the course without it.