154-0537/02 – Financial Markets II. A (FM II.A )

Gurantor departmentDepartment of FinanceCredits5
Subject guarantorprof. Ing. Tomáš Tichý, Ph.D.Subject version guarantorIng. Kateřina Kořená, Ph.D.
Study levelundergraduate or graduateRequirementCompulsory
Year1Semestersummer
Study languageEnglish
Year of introduction2012/2013Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
GUO001 Ing. Haochen Guo, Ph.D.
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 ethic 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
Seminars
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, understand financial derivative instruments, 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 state of financial markets in the world. 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. FABOZZI, Frank J., Franco MODIGLIANI a Frank Joseph JONES. Foundations of financial markets and institutions. 4th ed., Pearson new international ed. Harlow: Pearson, c2014. ISBN 978-1-292-02177-5. MISHKIN, Frederic S. a Stanley G. EAKINS. Financial Markets and Institutions. 8th ed. Boston: Pearson Prentice Hall, 2014. ISBN 978-0133423624. CECCHETTI Stephen G. and Kermit L. SCHOENHOLTZ. 3rd edit. Money, Banking, and Financial Markets. New York. MacGraw-Hill, 2011. ISBN 978-0-07-122068-2. CFA Institute. Ethical and Professional Standards and Quantitative Methods. 1.st. edit. Wiley, 2013. 792 p. ISBN 978-1937537609. FABOZZI, Frank J.and Franco MODIGLIANI. 4th edit. Capital Markets.New Jersey. Pearson Prentice Hall, 2009. ISBN 978-0-13-715499-9. MADURA, Jeff. Financial Markets and Institutions. 8th ed. USA: South-Western Cengage Learning, 2008. 742 p. ISBN 978-0-324-56821-9.

Recommended literature:

MCMILLAN, Michael G. Investments: principles of portfolio and equity analysis. Hoboken: Wiley, c2011. ISBN 978-0-470-91580-6. PECK, Sarah. Investment Ethics. 1st ed. USA: Wiley 2011. ISBN 978-0-470-43453-6. REILLY, Frank K. a Keith C. BROWN. Analysis of investments & management of portfolios. 10th ed., international ed. Mason: South-Western Cengage Learning, c2012. ISBN 978-0-538-48248-6. CHISHOLM, Andrew M. An introduction to capital markets. 1st edit. Chichester: John Wiley and Sons, 2007. ISBN 13-978-0471-49866-7. HITCHNER, James R. Financial Valuation. 3 ed. Wiley, 2011. 1320 p. ISBN-13: 978-0470506875. KOLLER, Tim. Valuation: Measuring and Managing the Value of Companie. 5th ed. Wiley, 2010. 840 p. ISBN-13: 978-0470424650. PECK, Sarah. Investment Ethics. 1st ed. USA: Wiley 2011. 304 p. ISBN 978-0-470-43453-6. PINTO, Jerald, E., PIRIE, Wendy, L. Investments. Principles of Portfolio and Equity Analysis. 1st ed. Wiley, 2011. 656 p. ISBN-13: 978-0470915806. ROSE, Peter S. and HUDGINS, Sylvia C. Bank Management and Financial Services. 1st ed. USA: McGraw-Hill Education, 2009. 769 p. ISBN 978-0-073-3824-32.

Way of continuous check of knowledge in the course of semester

E-learning

Další požadavky na studenta

There are no other requirements on the students.

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

Conditions for completion are defined only for particular subject version and form of study

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 Choice-compulsory study plan
2018/2019 (N6202) Economic Policy and Administration (6202T010) Finance P English Ostrava 1 Compulsory study plan
2017/2018 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Choice-compulsory study plan
2017/2018 (N6202) Economic Policy and Administration (6202T010) Finance P English Ostrava 1 Compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Choice-compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6202T010) Finance P English Ostrava 1 Compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Choice-compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6202T010) Finance P English Ostrava 1 Compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6202T010) Finance (01) Finance P Czech Ostrava 1 Compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6202T010) Finance P Czech Ostrava 1 Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T010) Finance (01) Finance P Czech Ostrava 1 Compulsory study plan
2012/2013 (N6202) Economic Policy and Administration (6202T010) Finance (01) Finance P Czech Ostrava 1 Compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner