Undergraduate Course: Investment and Securities Markets (BUST10032)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | The valuation of equity shares and fixed interest investments: theories of the term structure of interest rates; the behaviour of stock market prices and the principles involved in constructing portfolios. |
| Course description |
The course aims to develop an understanding of the theory and practice of investment and securities markets. It provides the concepts and tools which will help graduates cope in the increasingly sophisticated investment markets. Discussion of academic research is combined with an emphasis on practical application.
The topics covered include portfolio theory, asset pricing models, market efficiency, behavioural finance, and international diversification.
The course will provide:
- awareness of the concepts and tools employed in institutional investment and securities markets;
- an understanding of the current issues and debates relating to topics covered in the course;
- a knowledge of academic research methods relating to investment and securities markets;
- the ability to discuss critically the contribution of financial market theory to the institutional investment process.
SYLLABUS
- overview of securities markets;
- introduction to risk and return;
- optimal risky portfolios;
- index models;
- the Capital Asset Pricing Model;
- the Efficient Market Hypothesis;
- behavioural finance and technical analysis;
- empirical evidence on security returns;
- international diversification.
STUDENT LEARNING EXPERIENCE
The lectures provide an overview of each topic together with brief discussion of two or three journal articles relating to that topic. However, student learning comes primarily from reading the chapters of books and journal articles recommended. Many of the recommended journal articles involve quantitative methods but students do not need advanced mathematical or statistical knowledge to understand them. The assessed coursework will help students develop their writing skills.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
Students MUST have passed:
Principles of Finance (BUST08003)
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Information for Visiting Students
| Pre-requisites | Visiting students should have at least 3 Business Studies courses (including at least one Finance course) at grade B or above (or be predicted to obtain this). We will only consider University/College level courses.
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| High Demand Course? |
Yes |
Course Delivery Information
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| Academic year 2015/16, Available to all students (SV1)
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Quota: None |
| Course Start |
Semester 1 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 20,
Summative Assessment Hours 2,
Revision Session Hours 2,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
172 )
|
| Assessment (Further Info) |
Written Exam
70 %,
Coursework
30 %,
Practical Exam
0 %
|
| Additional Information (Assessment) |
Final Examination 70%; Coursework 30% (1,500 words maximum).
Visiting Student Variant Assessment
Coursework 50%; One Essay (min 3,000 words) 50%. |
| Feedback |
Individual assignment marks will be available on Learn, and students can also look at their individual feedback in the Business School Undergraduate Office (Room 1.11, 29 Buccleuch Place) and take away a copy of the feedback form.
Examination marks will be posted on Learn (together with generic feedback and examination statistics) as soon as possible after the Boards of Examiners¿ meeting (normally early-mid June). During the summer months (i.e. mid/end June ¿ end August), students may come into the Business School Undergraduate Office to look at their examination scripts. Continuing students will also be given the opportunity to review their examination scripts early in the new academic year in Semester 1 (i.e. in October).
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| No Exam Information |
|
| Academic year 2015/16, Part-year visiting students only (VV1)
|
Quota: None |
| Course Start |
Semester 1 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 20,
Revision Session Hours 2,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
174 )
|
| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
|
| Additional Information (Assessment) |
Final Examination 70%; Coursework 30% (1,500 words maximum).
Visiting Student Variant Assessment
Coursework 50%; One Essay (min 3,000 words) 50%. |
| Feedback |
Individual assignment marks will be available on Learn, and students can also look at their individual feedback in the Business School Undergraduate Office (Room 1.11, 29 Buccleuch Place) and take away a copy of the feedback form.
Examination marks will be posted on Learn (together with generic feedback and examination statistics) as soon as possible after the Boards of Examiners¿ meeting (normally early-mid June). During the summer months (i.e. mid/end June ¿ end August), students may come into the Business School Undergraduate Office to look at their examination scripts. Continuing students will also be given the opportunity to review their examination scripts early in the new academic year in Semester 1 (i.e. in October).
|
| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Understand and critically discuss the concepts and tools employed in institutional investment and securities markets.
- Understand and critically discuss the current issues and debates relating to topics covered in the course.
- Understand and critically discuss academic research methods relating to investment and securities markets.
- Discuss critically the contribution of financial market theory to the institutional investment process.
|
Reading List
The main text for the course is
Bodie, Z., Kane, A. and Marcus, A.J. ¿Investments and Portfolio Management¿ 9th Edition 2011 McGraw-Hill
The text recommended for further reading is
Elton, J.E., Gruber, M.J., Brown, S.J., and Goetzmann, W.N. ¿Modern Portfolio Theory and Investment Analysis¿ 9th Edition 2014 Wiley
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Additional Information
| Graduate Attributes and Skills |
On completion of the course students should be able to:
- demonstrate that they can follow complex lines of argument
- demonstrate that they can write answers to essay-type questions |
| Keywords | ISM |
Contacts
| Course organiser | Dr Ufuk Gucbilmez
Tel: (0131 6)50 3016
Email: |
Course secretary | Dr Caroline Hall
Tel: (0131 6)50 8336
Email: |
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