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KTTP320 Introduction to Finance 8 ECTS credits

By Susan Stewart,2014-08-08 02:35
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KTTP320 Introduction to Finance 8 ECTS credits

KTTP320 Introduction to Finance 8 ECTS credits

    Learning outcomes:

    At the end of the lecture course student is expected to be able to:

    ? recognize, define, and report basic concepts and theories of finance and to evaluate applications and restrictions of the theories

    ? to apply theories of finance to investment decisions and to basic problems of corporate finance

    ? on general level to identify, report and analyze the structure of financial markets and behavior of financial institutions

    ? to analyze market behavior and report the analysis results

    Content:

    The lecture course gives an introduction to finance and to financial markets. The key points are asset pricing, portfolio diversification and optimization, concept of risk, and efficient market hypothesis. In addition the lecture course gives an introduction to basic corporate finance including topics like evaluation of investment projects, capital structure of a corporation and determination of dividend policy.

    Literature:

    Brealey, R., Myers, S. & Allen, F. (2006) Principles of Corporate Finance. 8th edition. Recommended timing: 1st (or 2nd ) year

     Language: The lecture course is given in Finnish

KTTP330 Financial Markets and Institutions 6 ECTS credits

    Learning outcomes:

    At the end of the course the student is expected to be able to:

    ? describe why and what for financial markets exist and know how financial institutions behave.

    ? explain what is money, the purpose of money and how interest rates are determined. ? describe how the demand and supply of money are determined in economy Content:

    The course will familiarize a student with the tasks of financial markets, financial institutions and the role of money in economy. The course discusses about activities of financial institutions, the equilibrium of financial markets, about demand for money and interest rate determination. In the course we also deal with the role of a central bank and discuss about monetary policy targets and tools. Experts and economists from financial sector will be invited to lecture on their area of specialization.

    Literature: Mishkin, F.S. 1989. The Economics of MoneyBanking and Financial Markets, 2ndedition. (selected parts)

    Prerequisites: KTTP110 Basics of Economics.

    Recommended timing: 1st or 2nd year

     Language: The lecture course is given in Finnish

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    KTTA325 Corporate Finance 6 ECTS credits

    Learning outcomes:

    Aim of the lecture is that student will learn:

    ? to present and to apply basic theories of corporate finance,

    ? to analyze corporate behavior, to report the analyses results, to plan corporate financial actions and to make suggestions and decisions regarding corporate finance Content:

    The lecture course gives an introduction to corporate finance. Focus of the lecture course is capital budgeting process and methods, capital structure of a corporation, dividend policy, corporate mergers and acquisitions, incentive structures and asymmetric information, short term cash management, and enterprise risk management. Literature:

    Textbook is Grinblatt, M. & Titman, S. (2001) Financial Markets and Corporate Strategy 2/e.

    Prerequisities: Introduction to Finance KTTP320 year Recommended timing: 2nd

     Language: The lecture course is given in English

KTTA335 Asset Pricing and Investments 6 ECTS credits

    Learning outcomes:

    At the end of the lecture course student is expected to be able to

    ? recognize, define, and report the key theories explaining asset pricing and functioning of financial markets (CAPM, factor models)

    ? recognize, define, and report basic theories of derivatives pricing and their applications

    ? analyze the possibilities offered by different types of assets and investment strategies, to make investment propositions, and to make investment decisions

    ? evaluate investment performance of asset management services and investment managers

    ? plan and to construct basic investment solutions

    Content:

    The lecture course deepens students’ understanding regarding theories of asset pricing, investments and risk. The key points of the lecture course are price of risk, the Capital Asset Pricing Model (CAPM), factor models, term structure of interest rates, portfolio diversification and optimization, derivatives, predictability of markets, risk adjusted measures of investment performance.

    Literature:

    Bodie, Z., Kane, A., & Marcus A. (2008) Investments, 7th edition.

    Prerequisities: KTTP320 Introduction to Finance

    Recommended timing: 2nd year

     Language: The lecture course is given in Finnish

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    KTTA390 Behavioral Finance 5 ECTS credits

Literature:

    Barberis, N. & Thaler, R. 2003. A Survey of Behavioral Finance. Kirjassa Handbook of the Economics of Finance, Volume 1B, toim. G. Constantinides, M. Harris ja R. M. Stulz. North-Holland.

    Shefrin, H. 2002. Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing. Oxford University Press.

    Shleifer, A. 2000. Inefficient Markets: An Introduction to Behavioral Finance. Oxford University Press.

    Prerequisities: KTTP320 Introduction to Finance

    Recommended timing: 2nd (or 3rd)year

KTTA385 Topics in Finance I 4 ECTS credits

    Learning outcomes:

    Topics in Finance I deepens student’s understanding regarding some specific area of finance. Completion is possible only in form of a book exam.

    Content:

    Student can choose the topic conditional that the examiner will accept it and that there are at least three students willing to take the same exam on the same exam day. Possible topic can be for example mergers and acquisitions, in which case the text book could be Weston, Mitchel and Mulherin, Takeovers, Restructuring and Corporate

    Governance. Another example is valuation of companies, in which case the text book could be Copeland, Koller & Murrin: Measuring and Managing the Value of Companies. Literature:

    Please, contact the examiner.

    Prerequisities: KTTP320 Introduction to Finance

    Recommended timing: 2nd (or 3rd)year

KTTS330 Advanced Financial Economics 5 ECTS credits

    Learning outcomes:

    At the end of the lecture course student is expected to be able to:

    ? recognize, report, and apply theories of financial economics, evaluate and report under what kind of conditions and assumptions theories can be applied and if theories are consistent with the empirical observations

    ? recognize, report, and apply empirical tests applied to theories and hypothesis of financial economics

    ? analyze behavior of financial markets and pricing of financial instruments by applying theories of financial economics, and to report the analysis results Content:

    The lecture course gives a comprehensive treatment of theories of financial economics with a special emphasis on quantitative financial economics. The key points are the Capital Asset Pricing Model (CAPM), the consumption based CAPM (CCAPM), portfolio diversification, term structure of interest rates, and intertemporal portfolio choice.

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    Literature:

    Copeland, K., Weston, T. & Shastri, J. (2005) Financial Theory and Corporate Policy 4th edition.

    Cuthbertson, K. & Nitzsche, D. (2004) Quantitative Financial Economics: Stocks, Bond and Foreign Exchange, 2nd edition.

    Prerequisites: KTTS220 Mathematical Economics II. In addition it is recommended that students know the basic econometric methods (for example KTTA250 Econometrics I, and/or KTTA280 Applied Time Series Econometrics I).

    Recommended timing: 3rd or 4th year

    Language: The lecture course is given in English

KTTS365 Derivatives and Risk Management 5 ECTS credits

    Learning outcomes

    At the end of the lecture course student is expected to be able to: ? recognize, report, and apply theories of derivatives pricing and risk management ? evaluate return and risk potential of sophisticated derivative instruments and structures, and calculate their market values

    ? analyze and plan risk management solutions and make decisions regarding risk management

    Content:

    The lecture course gives a comprehensive treatment of derivatives and risk management. Key points of the lecture course are derivatives pricing, the Black-Scholes-Merton model, risk neutral pricing, tree models, numerical methods, Value-at-Risk, Expected Shortfall, market and credit risks and instruments applied to hedge these risks, portfolio optimization with nonlinear risk measures.

    Literature:

    Hull, J. (2006) Options, Futures, and Other Derivatives 6th edition. Jorion, P. (2000) Value-at-Risk: The New Benchmark for Risk Management, 2nd edition. Prerequisites: KTTA325 Corporate Finance, KTTA335 Asset Pricing and Investments, KTTS220 Mathematical Economics II. In addition it is recommended that students know the basic econometric methods (for example KTTA250 Econometrics I, and/or KTTA280 Applied Time Series Econometrics I) and master theories of financial economics (for example KTTS330 Advanced Financial Economics).

    Recommended timing: 3rd or 4th year

    Language: The lecture course is given in English

KTTS390 Topics in Finance II 4 ECTS credits

    Learning outcomes:

    Topics in Finance II deepens student’s understanding regarding some specific area of finance. Completion is possible only in form of a book exam.

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    Content:

    Student can choose the topic conditional that the examiner will accept it and that there are at least three students willing to take the same exam on the same exam day. Possible topic can be for example portfolio optimization, in which case the text book could be Campbell & Viceira, Strategic Asset Allocation. Another example of a topic is behavioral finance, in which case the text book could be Shefrin, A Behavioral Approach to Asset Pricing.

    Literature:

    Please, contact the examiner.

    Prerequisites: KTTP320 Introduction to Finance, KTTA325 Corporate Finance, KTTA335 Asset Pricing and Investments

    Recommended timing: 3rd (or 4th) year

    A special program in Financial Studies (Only in Finnish)

30 op Rahoituksen opintokokonaisuus

    Opintokokonaisuuden suorittaminen edellyttää, että vähintään yksi valinnaisista kursseista suoritetaan kansantaloustieteen tarjoamista rahoituksen aineopintotason kursseista (KTTA-alkuiset opintojaksot)

    21 op Pakolliset

     8 op KTTP320 Johdatus rahoitukseen

     6 op KTTP330 Rahoitusmarkkinat ja -instituutiot

     7 op YLAA310 Tilinpäätösanalyysi ja arvonmääritys 9 op Valinnaiset

     6 op KTTA325 Corporate Finance

     6 op KTTA335 Sijoittaminen ja rahoitusvaateiden hinnoittelu

     4 op KTTA385 Rahoituksen erityiskysymyksiä I

     KTTA39x Rahoituksen erityisteemoja

     5 op KTTA280 Aikasarjaekonometria I

     6 op YLAA105 Kirjanpito ja tuloslaskenta

     7 op YLAS130 IFRS-laskenta ja konsernitilinpäätös

     6 op TLTA112 Venture Capital Strategies

     5 op KAOA190 Arvopaperimarkkinaoikeus

     5 op KAOA200 Sijoittajaviestintä

60 op Kansantaloustieteen perus- ja aineopinnot

    45 op Pakolliset

     9 op KTTP110 Kansantaloustieteen peruskurssi

    6

     4 op KTTP122 Suomen talous ja talouspolitiikka

     5 op KTTA210 Matemaattinen taloustiede I

     9 op KTTA250 Ekonometria I

     9 op KTTA150 Mikrotaloustiede I

     9 op KTTA160 Makrotaloustiede I

    15 op Valinnaiset

    ? valinnaisia perus- ja aineopintotasoisia opintoja

     5 op KTTP615 Euroopan taloudellinen integraatio

     5 op KTTP710 Julkistalouden perusteet

     4 op KTTP720 Oppihistoria

     8 op KTTP320 Johdatus rahoitukseen

     6 op KTTP330 Rahoitusmarkkinat ja -instituutiot

     5 op KTTA410 Aluetaloustiede I

     5 op KTTA510 Työn taloustiede I

     5 op KTTA620 Kansainvälisen kaupan teoriat

     4 op KTTA730 Ympäristötaloustiede I

     5 op KTTA735 Ympäristötaloustieteen erityiskysymyksiä

     5 op KTTA530 Topics in Spatial Labour Markets

     5 op KTTA280 Aikasarjaekonometria I

     6 op KTTA325 Corporate Finance

     6 op KTTA335 Sijoittaminen ja rahoitusvaateiden hinnoittelu

     4 op KTTA385 Rahoituksen erityiskysymyksiä I

     KTTA39x Rahoituksen erityisteemoja

     6 op KTTA720 Toimialan ja innovaatioiden taloustiede

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