Microeconomics, macroeconomics, finance, and information systems as they relate to trade, liquidity, and market structure are four core topics covered in this open access book for business schools. It offers a thorough analysis of the effects of trading fees and other trading barriers, which the authors refer to as "frictions". Additionally, it offers students the chance to practice trading in various market structures and scenarios using the interactive simulation model of equities market trading known as TraderEx. By addressing these issues, the simulation offers students an engaging experiential learning opportunity that sheds insight on how a real-world financial market functions. Authors: Deniz Ozenbas , Michael S. Pagano , Robert A. Schwartz , Bruce W. Weber Every chapter has been written with the intention that it can be used independently in an existing course in economics, finance, or information science. Online resources for instructors include discussion topics, Po...