154-0337/02 – Financial Markets II. A (FTIIA)

Gurantor departmentDepartment of FinanceCredits5
Subject guarantorprof. Ing. Tomáš Tichý, Ph.D.Subject version guarantorIng. Kateřina Kořená, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semestersummer
Study languageCzech
Year of introduction2011/2012Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
KOR21 Ing. Kateřina Kořená, Ph.D.
KUL20 prof. Ing. Lumír Kulhánek, CSc.
NOV33 Ing. Martina Novotná, Ph.D.
TIC02 prof. Ing. Tomáš Tichý, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 3+1

Subject aims expressed by acquired skills and competences

The aim of this course is to extend basic knowledge of financial markets. At the end of the course students should be able to: - understand stock analyses and to compare these analyses, - learn to elaborate fundamental analysis, - grasp derivative instruments, - understand asset managemet and a role of a portfoliomanager, - understand basic principles and necessity of ethical behaviour in financial markets, - define financial markets regulation, - evaluate situation in global financial markets and in the Czech financial market including investment possibilities in these markets.

Teaching methods

Lectures
Tutorials
Project work

Summary

The aim of this course is to extend students' knowledge of financial markets. Completion of this course will enable students to understand stock analyses and practically apply a fundamental analysis, to understand financial derivative instruments, to understand portfolio management and the role of portfolio manager, grasp the basic principles and need for ethical behaviour in financial markets, define regulation of financial markets, and assess the current financial markets in the world and the Czech Republic including the possibility of investing in these markets. Exercises are focused on deepening the knowledge of lectures using illustrative examples and application of acquired knowledge, especially in the field of fundamental analysis and option strategies.

Compulsory literature:

BODIE, Z., A. KANE a A. J. MARCUS. Investments. 10th ed. Boston: McGraw-Hill, 2013. ISBN 978-0077861674. MUSÍLEK, Petr. Trhy cenných papírů. 2. aktualiz. a rozšíř. vyd. Praha: Ekopress, 2011. ISBN 978-80-86929-70-5. VESELÁ, Jitka. Investování na kapitálových trzích. 2. vyd. Praha: Wolters Kluwer ČR, 2011. ISBN 978-80-7357-647-9. JÍLEK, Josef. Akciové trhy a investování. 1. vyd. Praha: Grada Publishing, 2009. 656 s. ISBN 978-80-247-2963-3. CFA Institute. Ethical and Professional Standards and Quantitative Methods. 1. vyd. Wiley, 2013. 792 s. ISBN 978-1937537609.

Recommended literature:

CECCHETTI Stephen G. and Kermit L. SCHOENHOLTZ. Money, Banking and Financial Markets. 3rd ed. New York. MacGraw-Hill, 2011. 673 p. ISBN 978-0-07-122068-2. FABOZZI, Frank J. and Franco MODIGLIANI. Capital Markets. Institutions and Instruments. 4th ed. New Jersey: Prentice Hall, 2009.680 p. ISBN 0-13-715499-2. PINTO, Jerald, E., PIRIE, Wendy, L. Investments. Principles of Portfolio and Equity Analysis. 1st ed. Wiley, 2011. 656 p. ISBN-13: 978-0470915806. HITCHNER, James R. Financial Valuation. 3 ed. Wiley, 2011. 1320 p. ISBN-13: 978-0470506875. JÍLEK, Josef. Finanční trhy a investování. 1. vyd. Praha: Grada, 2008. 648 s. ISBN 978-80-247-1653-4. KOLLER, Tim. Valuation: Measuring and Managing the Value of Companies. 5th ed. Wiley, 2010. 840 p. ISBN-13: 978-0470424650. SHARPE, F. William a J. Alexander GORDON. Investice. 4. vyd. Praha: Victoria Publishing, 1994. 810 s. ISBN 80-85605-47-3.

Way of continuous check of knowledge in the course of semester

E-learning

Další požadavky na studenta

No other requirements.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Equity Analyses, Asset Management Investment theory development - growth and value theory of investing Effective market theory – history, forms effectiveness, market anomalies Fundamental analysis - global, sector and company analysis, financial analysis, calculation of intrinsic value, SWOT analysis Technical analysis – main principles, history, charts and indicators, important financial market indicators Psychological analysis – theories of psychological analysis, behavioral finance Asset management, main principles of asset management, portfolio performance evaluation, role of portfolio manager Global Investment Performance Standards 2. Derivative Markets Derivative markets and instruments – classification, use of derivatives, derivative markets Futures, forwards, swaps, options Trading with futures – mechanics of trading, clearinghouse, liquidation of futures positions Option strategies, synthetic options – types and use of option strategies Structured instruments, securitization 3. Ethics and Financial Markets, Code of Ethics and Standards of Professional Conduct(CFA) Ethics in financial markets, unethical examples of companies ‘behavior Professionalism – knowledge of the law, independence and objectivity, misrepresentation and misconduct Integrity of capital markets - material nonpublic information, examples of market manipulation Duties to clients - loyalty, prudence and care, fair dealing, suitability, performance presentation, preservation of confidentiality Ethical reporting of investment, risk profile of client, informing clients of the investment process Duties to employers – loyalty, additional compensation arrangements, responsibilities and supervisors Investment analysis, recommendations and actions - diligence and reasonable basis, communication with clients and prospective clients, record retention Conflicts of interest - disclosure of conflicts, priority of transactions, referral fees 4. Financial Markets Global financial markets - motives for using global financial markets, main centers, USA, Europe, Asia Investing in global financial markets - stock exchanges versus OTC – markets, advantages and disadvantages of international investing Role of the private equity and venture capital – types of risk capital, objectives of risk capital Emerging markets, risk in emerging markets Czech financial market – history, development, subjects, contemporary situation Regulation of the Czech financial market, legislative basis of this market Supervision and regulation in global financial markets – necessity of regulation, main regulation principles Contemporary situation in global financial markets, the lesson from financial crises, new trends of financial markets

Conditions for subject completion

Full-time form (validity from: 2011/2012 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Exercises evaluation and Examination Credit and Examination 100 (100) 51
        Exercises evaluation Credit 35  18
        Examination Examination 65  33
Mandatory attendence parzicipation:

Show history

Occurrence in study plans

Academic yearProgrammeField of studySpec.FormStudy language Tut. centreYearWSType of duty
2018/2019 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Compulsory study plan
2017/2018 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T010) Finance (00) Finance P Czech Ostrava 1 Compulsory study plan
2012/2013 (N6202) Economic Policy and Administration (6202T010) Finance (00) Finance P Czech Ostrava 1 Compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6202T010) Finance (00) Finance P Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner