F4160-0(2) - Prof. Chow Ying-Foon, Ph.D. Room 201A, Leung...

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1 Prof. Chow Ying-Foon, Ph.D. 2009–2010 First Term Room 201A, Leung Kau Kui Building Phone: (+852) 2609 7638 Department of Finance Fax: (+852) 2603 6586 The Chinese University of Hong Kong Email: yfchow@cuhk.edu.hk FIN 4160 A Intermediate Financial Theory Class Schedule: Monday 1:30 p.m. — 4:15 p.m. UCC C2 Office Hours: Tuesday 3:30 p.m. — 5:00 p.m. Wednesday 3:30 p.m. — 5:00 p.m. or by appointment Course Objective This course presents and develops many of the important concepts in finance as a natural extension of microeconomic and general equilibrium theory. The major focus is on single- period models of financial markets and the valuation of simple financial claims traded in those markets. Topics will include: models of choice under uncertainty, risk aversion, and stochastic dominance; single-period portfolio optimization problems and equilibrium models of asset markets; mutual fund separation theorems and aggregation theorems; introduction to asset markets and portfolio choice in a multi-period context; financial decisions of firms and the Modigliani–Miller theorems; financial equilibrium with differential information. Prerequisites There is no formal prerequisite for this course, but students are advised to take the equivalent of FIN3080 (Investment Analysis and Portfolio Management) and FIN3088 (Corporate Finance: Theory and Practice) before this course. Students are expected to have some familiarity with advanced calculus, differential equations, matrix algebra, probability, statistics, and good knowledge in microeconomic theory. However, note that, in spite of the “theoretical” nature of the course, ECO2011 (Intermediate Microeconomic Theory) and ECO3110 (Introductory Mathematical Economics) are not official prerequisites. Textbook and Readings Copeland, Thomas E., J. Fred Weston, and Kuldeep Shastri, 2005, Financial Theory and Corporate Policy , fourth edition (Addison-Wesley). Recommended reference books: Bodie, Zvi, Alex Kane, and Alan J. Marcus, 2009, Investments , eighth edition (McGraw-Hill). Cuthbertson, Keith, and Dirk Nitzsche, 2004, Quantitative Financial Economics: Stocks, Bonds and Foreign Exchange , second edition (Wiley). Danthine, Jean-Pierre, and John B. Donaldson, 2005, Intermediate Financial Theory , second edition (Elsevier). Supplementary readings:
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F4160-0(2) - Prof. Chow Ying-Foon, Ph.D. Room 201A, Leung...

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