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Introduction into Financial Economics

2019/2020
Учебный год
ENG
Обучение ведется на английском языке
3
Кредиты
Статус:
Курс по выбору
Когда читается:
1-й курс, 3 модуль

Преподаватель

Course Syllabus

Abstract

Financial economics is an important area that can significantly affect the efficiency of the economy. The course is aimed at better understanding of the basic principles of financial economics. The course covers fundamental financial mathematics and some financial instruments.
Learning Objectives

Learning Objectives

  • The purpose of the course is to gain basic knowledge in financial economics.
Expected Learning Outcomes

Expected Learning Outcomes

  • Understanding of the time value of money concept.
  • Demonstration of skills to schedule loan repayments correctly.
  • Ability to evaluate the efficiency of investment projects when the main attributes are given.
  • Understanding of the structure of option contracts.
  • Capability to assess the revenue from setting up a swap contract.
Course Contents

Course Contents

  • Time value of money
    Present value, future value, discounting with an infinite time horizon, effective annual interest rate.
  • Lending
    Repayment plans, interest payments, principal payments, balance, annuity.
  • Investing
    Net present value, internal rate of return, payback period.
  • Derivatives (options)
    European options, spot price, strike price, options strategies.
  • Derivatives (swaps)
    Interest rate swap, currency swap, forward rate agreement, forward period, forward rate.
Assessment Elements

Assessment Elements

  • non-blocking Mid-term exam 1
  • non-blocking Mid-term exam 2
  • non-blocking Final exam
    *Экзамен не подразумевает прокторинг. Экзамен проводится на платформе LMS (https://lms.hse.ru). К экзамену необходимо подключиться за 5 минут до начала. Студент обязан за день до экзамена проверить работоспособность своего компьютера/ноутбука, который будет использован на экзамене, а так же убедиться, что системные требования позволяют войти в LMS. Во время экзамена студент может пользоваться калькулятором. Во время экзамена студентам запрещено пользоваться конспектом, книгами, и т.п. Процедура пересдачи аналогична процедуре сдачи. Exam does not imply proctoring. The exam is to be held in written form via LMS (https://lms.hse.ru). It is necessary to login 5 minutes before the exam is due to begin.v A calculator can be used. During the exam it is forbidden to use supplemental material. The retake procedure is identical to the exam procedure. *Among students with more than 40% of total points. If more than 5% of students scored the same number of points making it impossible to identify the grades clearly, then the lower grade can be applied.
Interim Assessment

Interim Assessment

  • Interim assessment (3 module)
    0.7 * Final exam + 0.15 * Mid-term exam 1 + 0.15 * Mid-term exam 2
Bibliography

Bibliography

Recommended Core Bibliography

  • Hull, J. C. (2017). Options, Futures, and Other Derivatives, Global Edition. [Place of publication not identified]: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1538007
  • Macmenamin, J. (2012). Financial management : #an #introduction. Slovenia, Europe: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.B19F4429

Recommended Additional Bibliography

  • Alec N. Kercheval. (2012). Financial Economics: A Concise Introduction to Classical and Behavioral Finance, by T. Hens and M. O. Rieger. Quantitative Finance, (10), 1487. https://doi.org/10.1080/14697688.2012.695085