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42778-01 - Vorlesung: Intermediate Finance 3 KP

Semester Herbstsemester 2020
Angebotsmuster Jedes Herbstsemester
Dozierende Heiko Sorg (heiko.sorg@unibas.ch)
Heinz Zimmermann (heinz.zimmermann@unibas.ch, BeurteilerIn)
Inhalt Content:
The classic asset pricing models (CAPM, APT) do not explicitly take the time dimension of financial decisions into account. This is a rather strong limitation. In this course, we want to extent this perspective by developing an empirical framework for long-term pricing effects. Specifically, we cover the following issues:
• We review the basic setting of Euler-equation based (SDF-) asset pricing
• We discuss the equity premium puzzle
• We address intertemporal valuation problems by an analysis of the variability and predictive power of dividend-price and other valuation ratios
• We discuss excess volatility of stock prices with respect to fundamentals
• We derive the pricing implications of models that can explain the equity premium and return predictability: habits, long-run risks and rare disasters
• We discuss how better data can improve existing models
Literatur Course Material:
See Syllabus on homepage.
Bemerkungen
Weblink Weblink

 

Teilnahmebedingungen Prerequisites
Standard textbook finance (portfolio theory, asset pricing, option pricing) and microeconomics are required to follow the course. Students who have taken "Advanced Macro and Finance" will have a definitive advantage.

The course "Advanced Empirical Finance" covers empirical exercises of some of the models that we cover and will be complementary to this course.
Anmeldung zur Lehrveranstaltung Registration: Please enrol in MOnA. EUCOR-Students and students of other Swiss Universities have to enrol at the students administration office (studseksupport1@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam!
Unterrichtssprache Englisch
Einsatz digitaler Medien kein spezifischer Einsatz

 

Intervall unregelmässig
Datum 17.09.2020 – 26.11.2020
Zeit Siehe Detailangaben

The course will be taught online with Zoom at the dates you can see below:

Datum Zeit Raum
Donnerstag 17.09.2020 10.15-14.00 Uhr - Online Präsenz -, Online class with Zoom
Donnerstag 24.09.2020 10.15-14.00 Uhr - Online Präsenz -, Online class with Zoom
Donnerstag 01.10.2020 09.15-13.00 Uhr - Online Präsenz -, Online class with Zoom
Donnerstag 08.10.2020 09.00-12.45 Uhr - Online Präsenz -, Online class with Zoom
Donnerstag 15.10.2020 09.00-12.45 Uhr - Online Präsenz -, Online class with Zoom
Donnerstag 12.11.2020 09.00-12.45 Uhr - Online Präsenz -, Online class with Zoom
Donnerstag 19.11.2020 09.00-12.45 Uhr - Online Präsenz -, Online class with Zoom
Donnerstag 26.11.2020 09.00-12.45 Uhr - Online Präsenz -, Online class with Zoom
Module Modul: Finanztheorie (Masterstudium: Actuarial Science)
Spezialisierungsmodul: Areas of Specialization in International and/or Monetary Economics (Masterstudium: International and Monetary Economics)
Vertiefungsmodul: Monetary Economics and Financial Markets (Masterstudium: Wirtschaftswissenschaften)
Leistungsüberprüfung Semesterendprüfung
Hinweise zur Leistungsüberprüfung Grading is based on a written final exam.
written exam (60'): 10.12.20; 10:15-11:15. In case COVID-19 protective measures prevent examination on site, the faculty reserves the right to conduct the examination electronically during the same time slot.
The exam rooms will be published up to 05.12.20.

An-/Abmeldung zur Leistungsüberprüfung Belegen via MOnA innerhalb der Belegfrist
Wiederholungsprüfung keine Wiederholungsprüfung
Skala 1-6 0,1
Wiederholtes Belegen beliebig wiederholbar
Zuständige Fakultät Wirtschaftswissenschaftliche Fakultät / WWZ, studiendekanat-wwz@unibas.ch
Anbietende Organisationseinheit Wirtschaftswissenschaftliche Fakultät / WWZ

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