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Bachelor’s Programme 'International Programme in Business and Economics'

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Krakovich, Victor
Academic Supervisor
Kozachenko, Ekaterina
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Aleksandrova, Oksana
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Theory of finance-II

2025/2026
Academic Year
ENG
Instruction in English
6
ECTS credits
Delivered at:
Department of Economics
Course type:
Compulsory course
When:
3 year, 3, 4 module

Instructor


Мустафин Альмир Айратович

Course Syllabus

Full SyllabusAsk Question

Abstract

The course will focus on key concepts necessary for the proper allocation of capital. We will learn about types of return and risk premia, cost of capital and related models, key valuation tools, equity and bond instruments. Applications to the real world situations will be emphasized throughout the course and will also lead to a practical course project. The course emphasizes Socratic style of learning through active, interactive class participation to improve thinking and public speaking
Learning Objectives

Learning Objectives

  • Asset pricing theory and cost of capital, valuation theory and models, different returns and risk premia, key financial instrument types, public speaking.
Expected Learning Outcomes

Expected Learning Outcomes

  • Learn about different types of returns and risk premia
  • Understand cost of capital tools such as the Capital Asset Pricing Model and the Arbitrage Pricing Theory
  • Learn about key features of equity and various bond instruments
  • Understand the economic cycle and its impact on valuation
  • Conduct valuation of equity and bond instruments such as the Discounted Cash Flow Model, Dividend Discount Model, Relative Value
  • Deliver in public a presentation of a valuation project
  • Improve public speaking through regular, interactive class participation
Course Contents

Course Contents

  • Investment Setting
  • Asset Pricing
  • Equity Valuation
  • Macro Factors in Valuation
  • Bond Valuation
  • Class presentations
Assessment Elements

Assessment Elements

  • non-blocking Class participation
  • non-blocking Class presentation
  • non-blocking Assignment: Investment paper
  • non-blocking Midterm
  • non-blocking Exam
Interim Assessment

Interim Assessment

  • 2025/2026 4th module
    0.2 * Assignment: Investment paper + 0.1 * Class participation + 0.1 * Class presentation + 0.4 * Exam + 0.2 * Midterm
Bibliography

Bibliography

Recommended Core Bibliography

  • Investments, Reilly, F. K., 2006

Recommended Additional Bibliography

  • Investments, Reilly F.K., Norton E.A., 2006

Authors

  • SOLOVEVA EKATERINA EVGENEVNA
HSE Campus in St. Petersburg → Bachelor's programmes → St Petersburg School of Economics and Management → International Programme in Business and Economics → Courses → Theory of finance-II, 2025/26 Academic year
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