2025/2026
Финансовые инструменты: акции и облигации
Статус:
Маго-лего
Кто читает:
Банковский институт
Где читается:
Банковский институт
Когда читается:
3, 4 модуль
Охват аудитории:
для своего кампуса
Язык:
английский
Кредиты:
6
Контактные часы:
72
Course Syllabus
Abstract
Equity market is a specialized course aiming to give the attendees the general notion of equity market’s main concepts as well as main questions of modern finance theory. The course is in line with Chartered Financial Analyst (CFA) programme material Level 1 and 2 and equity market courses of leading US MBA programmes. The course is important for any manager or specialist working with financial instruments, providing practical knowledge of risks and returns. It is also useful for private investors, helping build adequate strategy and comprehend the risks. For CFA students the program provides a compact review of material from Securities Markets chapters. Besides classic finance theory, the course devotes attention to behavioral finance and other studies of financial markets inefficiency that gain appreciation in US and European finance programs.This course is designed to introduce to students the fundamental issues of the financial markets particularly make them familiar with debt securities. The course focuses on both theoretical issues as well as practical assignments. Additionally, it covers main features and peculiarities of Russian bond market.
Learning Objectives
- The goal of the course is to give the attendees the general notion of equity market’s main concepts and segments, of the risks of investing in stocks and methods of determining fair value, as well as discuss main questions of modern finance theory The course is based on the analysis of fixed income markets and instruments. Students will learn how to classify instruments, understand the approaches to value fixed income instruments and what are the key risk associated with investing into bonds and how they could be quantified and mitigated. The course will heavily rely on real world examples and will give a wide scope of how the global and Russian bond markets operate, what are the key drivers and challenges, who are the key investors and what are the factors influencing their decision. Additionally, students will learn realworld examples of bond deals structuring based on Russian Debt Capital Markets practice. Separately will be covered technics of how investment banks operate in the fixed markets, what departments are involved and their roles
Expected Learning Outcomes
- The goal of the course is to make students familiar with the main fixed income terminology and classifications, basic risk and return concepts; provide an overview of government and corporate markets in real world; make students comfortable in solving practical exercises
Course Contents
- Description of stock instruments, market structure, participants.
- Description, calculation and interpretation of security market indexes
- Discussion of market efficiency and related concepts, including their importance to investment practitioners
- Evaluation of a company’s business model, its operational profitability drivers, including pricing power
- Description of major equity valuation concepts and tools such as discounted cash flow models, multiple models and asset-based valuation models
- Foundations of Fixed Income
- Valuation and Risk
- Credit Analysis
- Advanced Topics & Applications
Assessment Elements
- EQUITY MARKETMid-term written open-book exam -40%, final exam –60%
- FIXED INCOMEClass participation and problem discussions*10% + Bond Credit Analysis Project: 40% + Final Exam - 50%
Bibliography
Recommended Core Bibliography
- Aswath Damodaran. (2016). Damodaran on Valuation : Security Analysis for Investment and Corporate Finance. Wiley.
- Morvan, C., & J. Jenkins, W. (2017). Judgment Under Uncertainty : Heuristics and Biases. Milton: Macat Library. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1552188
Recommended Additional Bibliography
- Pagdin, I., & Hardy, M. (2017). Investment and Portfolio Management : A Practical Introduction (Vol. 1st). London: Kogan Page. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1621031
- Pinto, J. E. (2015). Equity Asset Valuation (Vol. Third edition). Hoboken, New Jersey: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1083933