154-0337/03 – Financial Markets II. A (FTIIA)

Gurantor departmentDepartment of FinanceCredits5
Subject guarantorprof. Ing. Tomáš Tichý, Ph.D.Subject version guarantorprof. Ing. Tomáš Tichý, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Study languageCzech
Year of introduction2019/2020Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
KOR21 Ing. Kateřina Kořená, Ph.D.
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

Project work


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:

GREENWALD, B. C. a kol. Hodnotové investování: od Grahama po Buffetta a ještě dál. Tetčice: Impossible, 2022. ISBN 978-80-87673-36-2. REILLY, F. K., K. C. BROWN a S. J. LEEDS. Investment analysis and portfolio management. 11th ed. Boston: Cengage, 2019. ISBN 978-1-305-26299-7. REJNUŠ, Oldřich. Finanční trhy: učebnice s programem na generování cvičných testů. Praha: Grada Publishing, 2016, dotisk 2022. ISBN 978-80-247-5871-8.

Recommended literature:

HULL, John. Options, futures, and other derivatives. 11th ed.. Harlow, England: Pearson, 2022. ISBN 978-1-292-41065-4. MADURA, Jeff. Financial markets and institutions. 13th ed. Mason: South-Western Cengage Learning, 2021. ISBN 978-0357130797. REILLY, F. K., K. C. BROWN a S. J. LEEDS. Investment analysis and portfolio management. 11th ed. Boston: Cengage, 2019. ISBN 978-1-305-26299-7.

Way of continuous check of knowledge in the course of semester

Credit – seminar work, written test Examination – combined exam (written and oral part)


Other requirements

There are no additional requirements on any student


Subject has no prerequisities.


Subject has no co-requisities.

Subject syllabus:

1. Fundamentals of investment theory - value and growth theory of investment, beginnings of modern investment theory 2. Efficient market theory - the nature and forms of market efficiency, anomalies in financial markets 3. Fundamental analysis - global and sector analysis, company analysis, calculation of intrinsic value 4. Technical analysis - history, principles of technical analysis, graphical methods and indicators 5. Psychological analysis, comparison of stock analyses - theory of psychological analysis, fundamentals of behavioral finance, Keynes's investment psychology, Kostolany's stock psychology, bubble theory 6. Bond analysis, rating - time structure of interest rates, yield curves, importance of bond rating and current trends 7. Derivative markets - the beginnings of derivative transactions, the definition of derivatives, forwards, futures, swaps 8. Option contracts, option-like securities - the nature of option contracts, basic options, option-like securities (convertible bonds, warrants) 9. Option trading, basic option positions, synthetic options - systematization and listing of options, long and short option positions, covered and uncovered options 10. Option strategies - characteristics and use of selected option strategies (straddle, strangle, spread, butterfly) 11. Financial innovations - the essence of financial engineering, depository receipts, stripped securities, structured products (structured bonds, investment certificates) 12. Securitization - nature and process of securitization, characteristics of securitized products, current trends 13. Financial market indicators – the role of capital market indicators (averages, indices), characteristics and examples of selected stock indices 14. Asset management - professional portfolio management, portfolio management process, passive and active strategy, portfolio performance 15. Ethics in financial markets - the essence, importance and principles of ethical behavior in financial markets 16. Global financial markets - world financial centres, their characteristics and importance, regulation of financial markets 17. International investment - international capital movements, direct and portfolio investment, advantages and disadvantages 18. Emerging markets - definition of emerging markets, classification of frontier markets, motives of investing in these markets 19. Czech financial market - history and development of the Czech capital market 20. Regulation of the Czech capital market - legal basis of the capital market in the Czech Republic, objectives of regulation, current situation 21. Current situation in financial markets - current trends in financial markets, globalization

Conditions for subject completion

Full-time form (validity from: 2019/2020 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Credit and Examination Credit and Examination 100 (100) 51
        Credit Credit 35 (35) 18
                Písemka Written test 20  10 2
                Obchodování Other task type 5  0 1
                Semestrální práce Semestral project 10  0 1
        Examination Examination 65  33 3
Mandatory attendence participation: Attendance is not compulsory.

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Conditions for subject completion and attendance at the exercises within ISP: Attendance is not compulsory. Any student, even within ISP, must fulfill standard conditions.

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Occurrence in study plans

Academic yearProgrammeBranch/spec.Spec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2022/2023 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan
2021/2022 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner

Assessment of instruction

2022/2023 Summer
2021/2022 Summer
2020/2021 Summer
2019/2020 Summer