Modules for course N3CC | MSC/IMGT
MSc Investment Management
This is a provisional list of modules to be offered on this course in the 2018–19 academic year.
The list may not be complete, and the final course content may be different.
- ASB-4125: Invstmt Strat & Portfolio Mgmt (15)
- ASB-4403: Int'l Financial Markets (15) An overview of financial markets and instruments; Review of the concepts of risk and return; Portfolio theory and diversification; The capital asset pricing model; Other asset pricing models; Efficient markets, behavioural finance and anomalies; Hedging, speculation and arbitrage; Foreign exchange and derivative markets; Option characteristics and option pricing; Forwards, futures and swaps.
- ASB-4446: Financial Ethics & Regulation (15) The lecture programme will outline the principle areas of content with specific skills honed within seminars. The lecture programme will be introduced through considering past cases of poor ethical practice in financial services industry to motivate the subsequent studies. The module will then develop to consider moral and normative ethics in a business context, the application of ethical principles within key financial services areas including lending, investment and trading. The lecture programme will then consider the role of individuals, organisations and corporate governance arrangements in financial services decision making, expected professional standards and the evolution of conduct of business regulation internationally within the financial services industry.
- ASB-4601: Research Methods (15) Describing and summarising data; Probability and probability distributions; Principles of statistical inference; Correlation and regression analysis; Regression models for panel data.
- ASB-4406: Financial Analysis (15) Balance sheet and income statement analysis; Financial ratio analysis and inter-firm comparison; Trend analysis and financial forecasting; Analysis of profitability and growth; The quality of financial statements, and using financial statements in valuation; Cash accounting, accrual accounting and discounted cash flow valuation; Pricing book values and earnings; Assessment of credit and equity risk.
- ASB-4441: Current Issues - Int'l Finance (15) • Derivative Securities analysis and risk management • Hedge funds and Emerging Markets Investment • International/Global Investment • Credit rating agencies, Sovereign/bank debt/ratings and current regulatory reforms • International Monetary System and Trade Policy and exchange rates
60 credits from:
- ASB-4902: MSc Dissertation (60) (Semester 3) There is no set syllabus. The dissertation encourages students to develop a critical awareness of the professional skills relevant to the strategic management of a variety of business practices. Students choose their research topic, provided that there is suitable and sufficient reading material available, and a member of staff is available to supervise in the chosen area of study.
- ASB-4903: Financial Seminar Series (60) (Semester 3) The content below is that delivered in 2015, but the content will vary from year to year. This will enable the seminar programme to include staff research specialisms, to reflect current and topical research issues and to adapt to any staffing changes. Topics:- Set A: Accounting Set I. A1. Corporate governance and executive compensation (Professor John Ashton). A2. Impression management (Dr Doris Merkl-Davies). Set B: Banking and Finance. B1. Competition in the banking sector (Professor John Ashton). B2. Valuation for mergers, acquisitions and leveraged buyouts (Dr Ru Xie). Set C: Corporate Finance. C1. Event studies and the measurement of abnormal returns (Dr Gwion Williams). C2. Dividend policy (Professor Lynn Hodgkinson). Set D: Financial Markets. D1. The role of rating agencies in financial markets (Professor Owain ap Gwilym). D2. Market microstructure and high frequency trading (Professor Owain ap Gwilym). Seminar E1: Monetary Policy. E1. The conduct of monetary policy (Dr Rhys ap Gwilym). Set G: Accounting Set II. G1. Earnings management (Dr Aziz Jaafar). G2. Accounting and sustainability (Professor Lynn Hodgkinson). Each student must attend six of the above research seminars, as follows: MSc Accounting, MSc Accounting and Banking, MSc Accounting and Finance: Seminars A1, A2, C1, C2, G1, G2. MSc/MA Finance, MSc International Finance, MSc Investment Management, MSc/MA Management and Finance: Seminars B2, C1, C2, D1, D2, E1. MSc/MA Banking and Finance, MSc International Banking, MSc/MA Islamic Banking and Finance: Seminars B1, B2, C1, C2, D1, E1.
- ASB-4910: Finc'l Research & CFA Series (60) (Semester 3) In the Research Seminar component, the precise content will vary from year to year. This will enable the programme to include staff research specialisms, to reflect current and topical research issues and to adapt to any staffing changes. Indicative content for 2016 (labelling is consistent with the existing ASB4903/4896 module): A1. Corporate governance and executive compensation (Professor John Ashton). C1. Event studies and the measurement of abnormal returns (Dr Gwion Williams). D1. The role of rating agencies in financial markets (Professor Owain ap Gwilym). Each student must attend two of the above research seminars, as follows: MSc Accounting, MSc Accounting and Banking, MSc Accounting and Finance: Seminars A1, C1. MSc/MA Banking and Finance, MSc International Banking, MSc/MA Islamic Banking and Finance, MSc/MA Finance, MSc International Finance, MSc Investment Management, MSc/MA Management and Finance. Seminars C1, D1. MBA Banking and Finance, MBA Finance, MBA Islamic Banking and Finance. Seminars A1, D1. This is applicable to September and January intakes, in both Bangor and London. In the CFA component: Prepare students to undertake a professional exam. Training will cover topics on the CFA Level 1 syllabus. Indicative content for 2016: Ethical and Professional Standards; Quantitative Methods; Economics; Financial Reporting and Analysis; Corporate Finance; Portfolio Management; Equity Investments; Fixed Income Investments; Derivatives; and Alternative Investments.
30 credits from:
- ASB-4008: Financial Technology (15) (Semester 2)
- ASB-4408: Financial Econometrics (15) (Semester 2) • Review of the linear regression model: estimation and hypothesis testing; • Dynamic regression models: distributed lag and autoregressive models; • Non-stationarity and testing for unit roots; • Modelling long-run relationships: cointegration; • Modelling volatility: univariate ARCH and GARCH models; • Regression analysis using panel data.
- ASB-4416: Credit Risk Analytics (15) (Semester 1) Valuation of financial cash flows and rates of return; Expected return models and event studies in finance; The Law of One Price in finance and pricing financial claims via arbitrage; Portfolio theory and the modelling of investment portfolios; Value at Risk; Bootstrap methods; Brownian motion; Monte Carlo methods in finance; Pricing financial claims via replication and Black-Scholes option pricing.
- ASB-4433: Behavioural Fin Theory & Pract (15) (Semester 2) An overview of behaviour finance; Rational expectation, market efficiency and financial market puzzles; Beliefs, biases and heuristics; Application to asset pricing: sentiment, heterogeneous beliefs, and limits to arbitrage; Alternative approaches to financial anomalies such as bounded rationality and learning.
- ASB-4527: Executive Compensation (15) (Semester 2)