Rhedir gan Bangor Business School
10 Credyd neu 5 Credyd ECTS
Trefnydd: Prof Rasha Alsakka
To provide a solid grounding in the theory and practice relating to the principal asset classes.
The module will cover the following aspects: Investors, investment objectives and mechanics of investment; Investment risk and return; Portfolio theory and the Capital Asset Pricing Model; Valuation (time value of money); Equities (characteristics, valuation, world equity markets); Fixed Income securities (characteristics, world bond, valuation, understanding credit ratings and yield); and Investment management (Efficient Market Hypothesis, fundamental and technical analysis, and Investment management strategies).
Satisfactory standard 'D- to D+': No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
C- i C+
Average Standard 'C- to C+': Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
Excellent standard 'A- to A*': An outstanding performance, exceptionally able. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
High Standard 'B- to B+': Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
Understand the mechanics of investment in financial markets and the main features of key world markets.
Understand approaches to selecting investments and the role of portfolio diversification, both across asset classes and geographically.
Apply basic valuation techniques to equity and fixed income instruments and show understanding of the principal drivers of returns.
Demonstrate understanding of the typical investment objectives of key classes of investors, including the risk-return relationship and the role of risk aversion.
|2-hour written exam S1||75|
Strategaeth addysgu a dysgu
One 2-hour lecture per week.
- Rhifedd - Medrusrwydd wrth ddefnyddio rhifau ar lefelau priodol o gywirdeb
- Archwilio - Gallu ymchwilio ac ystyried dewisiadau eraill
- Adalw gwybodaeth - Gallu mynd at wahanol ac amrywiol ffynonellau gwybodaeth
- Sgiliau Rhyngbersonol - Gallu gofyn cwestiynau, gwrando'n astud ar atebion a'u harchwilio
- Dadansoddi Beirniadol & Datrys Problem - Gallu dadelfennu a dadansoddi problemau neu sefyllfaoedd cymhleth. Gallu canfod atebion i broblemau drwy ddadansoddiadau ac archwilio posibiliadau
- Cyflwyniad - Gallu cyflwyno gwybodaeth ac esboniadau yn glir i gynulleidfa. Trwy gyfryngau ysgrifenedig neu ar lafar yn glir a hyderus.
- Gwaith Tîm - Gallu cydweithio'n adeiladol ag eraill ar dasg gyffredin, ac/neu fod yn rhan o dîm gweithio o ddydd i ddydd
Sgiliau pwnc penodol
- knowledge of theories and empirical evidence concerning financial management, risk and the operation of capital markets (in cases of degrees with significant finance content).
- Analysis, deduction and induction. Economic reasoning is highly deductive, and logical analysis is applied to assumption-based models. However, inductive reasoning is also important. The development of such analytical skills enhances students' problem-solving and decision-making ability.
- An appreciation of the nature of the contexts in which finance can be seen as operating, including knowledge of the institutional framework necessary for understanding the role, operation and function of markets and financial institutions (e.g. the economic, legal, regulatory and tax environment, both national and international; the firm; the capital markets and the public sector).
- A knowledge of the major theoretical tools and theories of finance, and their relevance and application to theoretical and practical problems (e.g. concept of arbitrage and examples of its use; financial mathematics and capital budgeting criteria; informational efficiency; optimal risk sharing; portfolio theory; asset pricing models and the valuation of securities; cost of capital; derivative pricing; risk management; information asymmetry; principal agency relationships; signalling; Fisher separation and capital budgeting criteria; behavioural finance; term structure and the movement of interest rates; determination of exchange rates and financial intermediation).
- An understanding of the factors influencing the investment behaviour and opportunities of private individuals (bonds, equities, and derivatives; risk aversion; risk/return trade-offs; portfolio management and performance measurement; pensions and long term savings; the tax treatment of savings and investments; international diversification; forex risk; objectives of and constraints on institutional investors and advisors).
- An understanding of financial service activity in the economy, and an appreciation of how finance theory and evidence can be employed to interpret these services (for example, information asymmetry, adverse selection and moral hazard could be employed to analyse the fundamental nature of services, such as insurance, pensions, bank lending and consumer credit, and also explore fundamental problems arising in such financial service provision. Efficient market hypothesis could be used to explore evidence for fund manager performance and the effectiveness of equity and bond saving services).
- Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
- Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
Goblygiadau o ran adnoddau ar gyfer myfyrwyr
Rhestrau Darllen Bangor (Talis)http://readinglists.bangor.ac.uk/modules/asb-2217.html
Bodie, Z., Kane, A. and Marcus, A.J. (2019). Essentials of Investments. 11th edition, McGraw-Hill.
McGraw-Hill. Pilbeam, K. (2018). Finance and Financial Markets. 2nd Edition, Palgrave Macmillan.
Rhagofynion a Chydofynion
Rhagofynnol ar gyfer:
Cyrsiau sy’n cynnwys y modiwl hwn
Gorfodol mewn cyrsiau:
- N322: BA Banking and Finance year (BA/BIF)
- N106: BSc Business Stud & Finance (Bangor International College) year 2 (BSC/BICBSF)
- L193: BSc Financial Economics (Bangor International College) year 2 (BSC/BICFE)
- NN1H: BSc Business Studies and Finance year 2 (BSC/BSFIN)
- NN1J: BSc Business Studies and Finance (4 year with Incorp Found) year 2 (BSC/BSFIN1)
- L111: BSc Financial Economics year 2 (BSC/FINEC)
- L11B: BSc Financial Economics (4 year w Incorporated Foundation) year 2 (BSC/FINEC1)
Opsiynol mewn cyrsiau:
- NQ26: BA Astudiaethau Busnes a Chymraeg year 2 (BA/ABCH)
- N401: BA Accounting & Finance (with International Experience) year 2 (BA/AFIE)
- NR33: BA Banking/Italian year 2 (BA/BIT)
- NR34: BA Banking/Spanish year 2 (BA/BSP)
- N107: BA Business year 2 (BA/BUS)
- NR31: BA French/Banking year 2 (BA/FRB)
- NR32: BA German/Banking year 2 (BA/GB)
- NN44: BSc Accounting and Banking with International Experience year 2 (BSC/ABIE)
- NN43: BSc Accounting and Banking year 2 (BSC/ACCB)
- NN46: BSc Accounting and Banking (4 year with Incorp Found) year 2 (BSC/ACCB1)
- NN4J: BSc Accounting and Finance (4 year with Incorp Found) year 2 (BSC/ACCF1)
- NN4H: BSc Accounting and Finance year 2 (BSC/ACCFIN)
- N402: BSc Accounting & Finance (with International Experience) year 2 (BSC/ACCFINIE)
- 8V55: BSc Banking and Finance (with International Experience) year 2 (BSC/BFIE)
- N391: BSc Banking and Finance year 2 (BSC/BFIN)
- N39B: BSc Banking and Finance (4 year w Incorporated Foundation) year 2 (BSC/BFIN1)
- N406: BSc Accounting and Finance (Bangor International College) year 2 (BSC/BICAF)
- N324: BSc Banking and Finance (Bangor International College) year 2 (BSC/BICBF)
- IN00: BSc Computer Information Systems for Business year 2 (BSC/CISB)
- IN0B: BSc Computer Information Sys for Bus (4 year w Incorp Found) year 2 (BSC/CISB1)