The aim of this course is to teach students the economic functioning and market structure of bonds and treasury bills, which are debt instruments issued by the public and private sectors, as well as their relationship with public finance. Through this course, students will gain an understanding of the significance of fixed-income securities in terms of public debt management and financial markets, and will be equipped with the skills to analyze the decisions of market participants.

The course begins by introducing the fundamental concepts of fixed-income securities. It examines the characteristics, issuance processes, and maturity structures of debt instruments such as government bonds, treasury bills, and corporate bonds. Different types of interest rates, yields, and risk structures are analyzed, and valuation methods for bonds and bills are explored in detail. The course also covers market functioning, secondary markets, yield differentials, and the effects of taxation. Furthermore, it evaluates the relationship between these markets and public debt management, as well as their role within the framework of economic policy.