Finance 511 Summer 2011 Syllabus

Finance 511 Summer 2011 Syllabus - Finance 511...

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Finance 511 Instructor: Dr. Mark Krueger Investments/Portfolio Analysis Office: 70C Wohler Hall Summer 2011 Hours: 8-10 Friday Summary : This course will provide students with an overview of investment theory and risk management. We begin with a discussion of investment classes and the markets where investment instruments are traded. Market microstructure includes the organization of the organized exchanges, the mechanics of placing orders and the mechanisms by which information is reflected in asset prices. Next, we introduce a standard approach that is used by investment companies to value equities. Using the EIC (economy-industry-company) approach, we begin with a discussion of the global economy, interest rate parity and the different risks that are encountered when making investments that cross national borders. Next, we examine the impact of our economic analysis on the industry we are analyzing. Finally, we link the economic and industry analyses to the prospects of individual companies and develop methods for valuing these companies. At this stage, we will discuss both fundamental and technical approaches for determining if a security is over or undervalued. The third section of this course focuses on the traditional topic of risk and return. During our valuation module, we will have often treated the return required by investors as exogenous to the valuation process, but it is not. We will begin by defining risk and return for an individual asset; then we
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Finance 511 Summer 2011 Syllabus - Finance 511...

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