Financial Markets and Instruments

Instructor:

Andrei Semenov, PhD, Associate Professor, York University

 

Workload:

6,0 ECTS, 45 hours

 

Prerequisites:

no

 

Goals and objectives: 

The objective of the course is to provide students with knowledge of the foundations of financial markets and various financial instruments. The course covers the topics such as making investment decisions under uncertainty, portfolio theory, market efficiency, capital market equilibrium and asset valuation, Arbitrage Pricing Theory, and derivative securities.

 

Course Content:

  • Choice Theory under Uncertainty
  • Measuring Risk and Risk Aversion
  • The Concept of Stochastic Dominance
  • Risk Aversion and Investment Decisions
  • Markets for Corporate Securities
  • Portfolio Theory
  • Financial market efficiency
  • The Capital Asset Pricing Model
  • Multifactor Asset Pricing Models
  • The Arbitrage Pricing Theory
  • The Consumption Capital Asset Pricing Model
  • Markets for Derivative Securities

 

Grading Policy:

Mid-term exam– 40%

Final exam  – 60%

 

 

Course reading:

 

Fabozzi, F.J., Modigliani, F., and F.J. Jones (2010), Foundations of Financial Markets and Institutions, 4th ed., Pearson, Prentice Hall.

Danthine, J.-P., and J.B. Donaldson (2005), Intermediate Financial Theory, 2nd ed., Amsterdam; Boston, Mass.: Elsevier.

Hull, J.C. (2009), Options, Futures, and Other Derivatives, 7th ed., Upper Saddle River, N.J.: Pearson, Prentice Hall.

 

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