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Investments

Description

Objectives
Institutions and Economic Models of Financial Markets

Description / Program

The course is an introduction to the institutions and economic functioning of financial markets. First, the course provides a general description of the basic features of these markets: the asset classes, the trading mechanisms, and the main actors. Then, it deals with individual portfolio choice. Next, individual portfolios are aggregated to derive the main concepts of equilibrium in equity markets (CAPM, APT). These concepts are used to introduce the notion of market efficiency. The empirical evidence on market efficiency is discussed and analyzed from the point of view of classical and alternative theories of capital markets, such as Behavioral Finance. The course then examines the tools that financial analysts use to make investment decisions (equity analysis). Using these notions, the students will be introduced to the concept of active portfolio management. As a final chapter, the course deals with fixed income securities (prices, yields, the term structure, and bond portfolios management).

Learning Method / Style of Lessons
Lectures and Problem Sets

Exam Style
Written exam at the end of the course

Readings/Textbooks
Bodie Z., Kane A., and Marcus A.J., “Investments”, McGraw Hill.

People

 

Franzoni F.

Course director

Buergin D.

Assistant

Additional information

Semester
Fall
Academic year
2019-2020
ECTS
6
Language
English
Education
Master of Science in Economics and Communication in Financial Communication, Elective course, Elective course, 2nd year

Master of Science in Economics in Economic Policy (until A.Y. 2018), Elective course, Elective course, 2nd year

Master of Science in Economics in Finance, Core course, Minor in Banking and Finance, 1st year

Master of Science in Economics in Finance, Core course, Minor in Digital Finance, 1st year

Master of Science in Economics in Finance, Core course, Minor in Quantitative Finance, 1st year

Master of Science in Financial Technology and Computing, Core course, Lecture, 1st year