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Financial Markets

  • Teacher(s):   J.Munier  
  • Course given in: French
  • ECTS Credits: 6 credits
  • Schedule: Spring Semester 2020-2021, 4.0h. course (weekly average)
  •  sessions
  • site web du cours course website
  • Related programmes:
    Bachelor of Science (BSc) in Management

    Bachelor of Science (BSc) in Economics

    Bachelor (BSc) in Economic Sciences
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Objectives

The course provides students with a clear understanding of the fundamental principles of financial investments and of how modern financial markets work. The course focuses on the role that finance plays for personal and business investment decisions.

By the end of this course, students should be able to critically use finance theories, techniques and concepts, and apply them to real-world situations. The course also provides foundations to undertake more specialized finance courses.

Contents

The course focuses on the following modules:

  • Discounting, Interest Rates and the Macroeconomy
  • The Analysis of Real Investment Decision
  • Bonds and Fixed-Income Securities
  • Stocks
  • Capital Markets and Trading
  • Portfolio Allocation: Developing Investment Strategies
  • Active and passive Invesments: Market Efficiency, Anomalies, Personal Finance
  • Derivatives and Options

Exercise sessions will illustrate the main concepts.

The exercise sessions will take place in general on Thursday.

The teaching language is French. However, the lecture notes and the exercise sessions will be in English.

The final exam will be available in French.

References

Lecture slides will be posted on the course web site. The suggested book for the course is:

  • Jonathan Berk, Peter DeMarzo, Corporate Finance, 2nd/3rd Edition, Pearson.

Lecture slides and regular attendance to classes including exercise sessions should suffice to succeed in the exam. Alternative books (not required) include:

  • R. A. Brealey, S. C. Myers, F. Allen, Principles of Corporate Finance, McGraw-Hill, 8th edition, 2005;
  • Z. Bodie, A. Kane, and A. J. Marcus, Essentials of Investments, McGraw-Hill/Irwin, 7th Edition, 2007;
  • M. Grinblatt and S. Titman, Financial Markets and Corporate Strategy, McGraw-Hill, 2nd Edition, 2001;
  • J. Hull, Options, Futures, and Other Derivatives, Prentice Hall, 6th edition, 2005.

Possible additional readings and detailed references will be announced during the course.

Pre-requisites

Students should certainly be familiar with the basics of probability and statistics and with the use of electronic spreadsheets (e.g. Excel).

Evaluation

First attempt

Exam:
Written 1h30 hours
Documentation:
Allowed
Calculator:
Allowed
Evaluation:

There will be only a final exam with grade F. Your final grade will be F. The final exam will be based on the entire class. The Exam will be open-book. You will need a calculator. Scientific calculators only are authorized.

[Scientific calculator according to HEC directive]

Retake

Exam:
Written 1h30 hours
Documentation:
Allowed
Calculator:
Allowed
Evaluation:

The grade in the retake exam will be based on the retake exam only. The retake exam will be online and open-book. You will need a calculator. Scientific calculators only are authorized.

[Scientific calculator according to HEC directive]



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