(3 credits) Prerequisite: ACFI 490 This course familiarizes the student with two little-known but potentially titanic markets in the securities industry. Both options and futures are the wave of things to come. The course begins with a historical account of the origins of the two markets and then an examination of the mechanisms of both markets. Much time is spent on hedging techniques and on the application of futures contracts to the food industries and to banking and life insurance. Offered spring semester.