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Lecturer(s)
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Course content
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Lectures: 1. Definition of basic terms - characteristics of investment instruments, financial and real investment instruments 2. Yield, risk and liquidity of investment instruments 3. Basic principles of valuation of investment instruments 4. Short-term and long-term debt instruments, valuation of bonds 5. Bond yield, yield curves and bond risk 6. Equity instruments and valuation of equity instruments 7. Stocks return and risk 8. Collective investment instruments - stocks of investment funds, investment certificates, ETF's, ETN's, ETC's 9. Markowitz portfolio theory 10. Financial derivatives - forward contracts 11. Financial derivatives - futures contracts 12. Financial derivatives - options 13. Financial derivatives - swap Seminars: 1. Basic classification of securities and pricing of securities 2. Financial arithmetic, simple and compound interest , future and current value 3. Securities of money market, yield basis and discount basis securities 4. Bonds - Bond pricing, bond yield measurement 5. Yield curve, yield curves types, spot and forward yield curve 6. Bond risks, Duration, convexity, immunization 7. Stock - intrinsic value, stock return 8. Risk and risks measurement 9. Portfolio analysis 10. Financial derivatives - forwards 11. Financial derivatives - futures 12. Financial derivatives - options 13. Financial derivatives - swaps
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing), E-learning
- Preparation for classes
- 34 hours per semester
- Class attendance
- 42 hours per semester
- Preparation for credit
- 30 hours per semester
- Semestral paper
- 30 hours per semester
- Preparation for exam
- 32 hours per semester
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Learning outcomes
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The aim of the course is to familiarize students with the basic investment instruments of the financial market - securities and financial derivatives. After completing the course, the student becomes familiar with the terminology and legislation governing these instruments. Furthermore, the students are able to quantify the return and risks associated with individual investment instruments and understand the issue of their valuation.
Students are oriented in the issues and terminology of securities and financial derivatives. Students can calculate the yield and risk of individual investment instruments and are able to calculate the value of these investment instruments.
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Prerequisites
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Assessment methods and criteria
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Combined exam, Test
Credit requirements: 1. Active participation in exercises (consultations) 2. Completion of two credit tests (minimum required pass rate of 60%). Tests are written face-to-face in during the 7th and 13th weeks for the full-time form of study and for the combined form of study during the last consultation Exam requirements: 1. Written test verifying knowledge of the material in the scope defined by this syllabus (min. required success rate - 60 %) 2. Oral exam verifying knowledge of the material in the scope defined by this syllabus Examination evaluation: Excellent (95-100%) Excellent minus (90-94%) Very good (80-89%) Very good minus (75-80%) Good (60-74%) Not satisfied (0 - 59%) Assessment weights: 20% credit test, 40% exam test, 40% oral exam.
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Recommended literature
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Cipra, T. Matematika cenných papírů. Praha: Professional Publishing, 2013. ISBN 978-80-7431-079-9.
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Fabozzi, Frank J. Capital markets : institutions, instruments, and risk management. Fifth edition. London, England : The MIT Press : Cambridge, Massachusetts, 2015. ISBN 978-0-262-02948-3.
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Kotásek, J., Pihera, V., Pokorná, J., Vítek. J. Právo cenných papírů. Praha: C. H. Beck, 2014. ISBN 978-80-7400-515-2.
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Rejnuš, O. Finanční trhy (4.vyd). Praha, 2014. ISBN 978-80-247-3671-6.
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Revenda, Zbyněk; Mandel, Martin,; Kodera, Jan; Musílek, Petr,; Dvořák, Petr,; Brada, Jaroslav. Peněžní ekonomie a bankovnictví. Vydání 1. Praha : Management Press, 1996. ISBN 80-85943-06-9.
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Rose P. S. Money and Capital Markets: The Financial System in an Increasingly Global Economy. Boston, McGraw - Hill Irwin, 2009.
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Veselá, J. Investování na kapitálových trzích 3.vydání. Wolters Kluwer ČR, 2019. ISBN 978-80-7598-212-4.
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