This course provides an in-depth understanding of fixed-income securities and their role in financial markets. Students will learn about the institutional details of bond markets, bond valuation concepts, and the determinants of short- and long-term interest rates. They will also gain knowledge of term structure models with binomial trees, the Vasicek model, Monte Carlo simulations, and pricing of defaultable bonds. Additionally, the course will cover the relationships between interest rates and the macroeconomy and develop the communication skills necessary to present complex financial concepts. This course is ideal for students interested in pursuing a career in finance or banking, as it provides a solid foundation in the essential concepts and tools used in the fixed-income market.