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Chapter 9: Stock Markets
Learning objectives
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An appreciation of the rationale and importance of a well-organised stock market in a sophisticated financial system is a necessary precursor to understanding what is going on in the world around us. Having worked through this chapter you should be able to:
- describe the scale of stock market activity around the world and explain the reasons for the widespread adoption of stock exchanges as one of the foci for a market-based economy;
- explain the functions of stock exchanges and the importance of an efficiently operated stock exchange;
- give an account of the stock markets available to UK firms and describe alternative share trading systems;
- demonstrate a grasp of the regulatory framework for the UK financial system;
- be able to understand many of the financial terms expressed in the broadsheet newspapers (particularly the Financial Times);
- have an understanding of the UK corporate taxation system.
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