Teaching an Updated Undergraduate Fixed-Income Course

An undergraduate finance curriculum rarely includes a fixed-income course. Designing an undergraduate fixed-income course requires incorporating cutting-edge aspects of debt markets and investments, especially bonds. Instructors must consider not only the current state of debt markets but offer insights on trends and innovations occurring in the debt markets. In addition, course content must consider evolutions occurring in theory and practice. This paper identifies recent developments and innovations in the debt markets that may attract students to take a fixed-income course. These topics involve (1) bond characteristics and risks, (2) bond benefits and performance, (3) behavioral finance, (4) contemporary bond issues, including LIBOR transition and negative interest rates, and (5) trends in debt markets. Fixed-income markets exceed equity markets in both size and trading volume. Thus, a critical understanding of these markets is essential for a well-rounded finance program. We aim to discuss the market’s current state and share new innovative ideas, future trends, and changes needed in academic curricula and research streams.



Work Title Teaching an Updated Undergraduate Fixed-Income Course
Open Access
  1. H. Kent Baker
  2. Greg Filbeck
  3. Tom Barkley
  4. Hunter M. Holzhauer
  5. Dianna C. Preece
  6. Andrew C. Spieler
  1. Bond performance
  2. Bond investments
  3. Bond characteristics
  4. Bond markets
License In Copyright (Rights Reserved)
Work Type Article
  1. Advances in Financial Education
Publication Date 2021
Deposited February 19, 2024




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Work History

Version 1

  • Created
  • Added Baker-Summer_21-AFED_PageProofs-Round2.pdf
  • Added Creator Michael Filbeck
  • Added Creator H. Kent Baker
  • Added Creator Tom Barkley
  • Added Creator Hunter Holzhauer
  • Added Creator Dianna Preece
  • Added Creator Andrew Spieler
  • Published
  • Updated Keyword, Publication Date Show Changes
    • Bond performance, Bond investments, Bond characteristics, Bond markets
    Publication Date
    • 2021-01-01
    • 2021
  • Renamed Creator Greg Filbeck Show Changes
    • Michael Filbeck
    • Greg Filbeck
  • Updated Creator H. Kent Baker
  • Renamed Creator Hunter M. Holzhauer Show Changes
    • Hunter Holzhauer
    • Hunter M. Holzhauer
  • Renamed Creator Dianna C. Preece Show Changes
    • Dianna Preece
    • Dianna C. Preece
  • Renamed Creator Andrew C. Spieler Show Changes
    • Andrew Spieler
    • Andrew C. Spieler
  • Updated