Derivatives have been called “weapons of mass destruction” and have been accused of not only magnifying but also causing the recent financial crisis. In the wake of the crisis, many called for increased regulation of these products, and Dodd‐Frank delivered. But what are derivatives? Do they have a beneficial role in our economy? Do they deepen financial markets and contribute to stability or are they disruptive? And are Dodd-Frank’s provisions likely to be effective? What do derivatives have to do with beer? We will address these and related issues as we delve into derivatives and their regulation. We hope you will join us.