1. Time value: Time value refers to the value change of funds due to time factors in the process of investment and reinvestment. According to the principle of time value, the value of money changes with time, and the future value of a sum of money is lower than that of the same amount of cash. Time value is the core concept in modern finance, involving interest rate, discount rate, compound interest and other concepts.

2. Asset pricing: Asset pricing refers to the process of evaluating the value of assets. Modern financial theory studies the pricing model and method of assets to determine the reasonable price of assets. This includes the pricing methods of financial instruments such as stocks, bonds, options and futures, such as capital asset pricing model and option pricing model.

3. Risk management: Risk management refers to how to effectively manage and measure risks in a world full of uncertainties. Modern financial theory pays attention to risk quantification and management methods, including risk measurement, diversification of portfolio, use of derivatives and so on. Risk management aims at reducing the impact of risks on investment portfolios and financial institutions, and improving the rate of return and stability of assets.