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Course Syllabus

2025/2026

Asset Pricing and Financial Markets 2

Type: Minor
Delivered by: International College of Economics and Finance
Open to: students of all HSE University campuses
Language: English

Course Syllabus

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Abstract

This course is aimed at students who wish to understand how financial markets work and how securities are priced. Using present value techniques, it gives a theoretical treatment of bond and stock valuation including portfolio theory and a development of the Capital Asset Pricing Model. The concept of financial market efficiency is introduced, and evidence for efficiency evaluated. Finally, there is a presentation of derivative pricing using absence of arbitrage arguments. The course is based on lectures, seminars, team work and self-study. “Asset pricing and Financial markets” is a two-semester course.