| Date |
Topics |
|
07.10.2019
|
Topics:
- Introduction
- Financial Systems (until slide II.21 (p.12) + slide VI.26 (p.77) + A1.1-5 (p.21-22))
Functions of financial systems, efficiency, problems of asymmetric information, monetary policy transmission channels
|
|
14.10.2019
|
Topics:
- Financial Systems
Categorization of financial systems, corporate governance around the world
- Financial Decisions and the Theory of Choice
Intertemporal transfer of funds
Axioms of Choice and the Principle of Maximum Utility (until slide III.10)
|
|
21.10.2019
|
Topics:
- Financial Decisions and the Theory of Choice
Axioms of Choice: quasiconcave functions, properties of indifference curves
Optimal consumption/investment decision
Time consistent preferences
Optimal consumption/investment decisions (until slide III.20)
|
|
28.10.2019
|
Topics:
- Financial Decisions and the Theory of Choice
Optimal consumption/investment decisions
Fisher Separation and NPV rule
Examples 1, 2 (until slide III.42)
|
|
04.11.2019
|
Topics:
- Financial Decisions and the Theory of Choice
- Fisher Separation and NPV rule: Example 2 (cont.)
- Hedging risk
- Formal equivalence between optimal consumption/investment decision under certainty and optimal demand for insurance
- Some Cornerstones and Key Ideas of Modern Finance (until slide IV.16)
|
|
11.11.2019
|
Topics:
- Some Cornerstones and Key Ideas of Modern Finance
- Example of a chaotic system
- Efficient Market Hypothesis
- Random walk model, stochastic processes, Brownian motion
- Continuous returns (until slide V.22)
- Central limit theorem (slides A3, p.66)
|
18.11.2019
HS 5
|
Topics:
- Efficient Market Hypothesis
- Continuous returns, lognormal distribution, geometric Brownian motion
- Efficient market hypothesis
- Empirical facts
- Behavioral finance
|
|
25.11.2019
|
Topics:
- Efficient Market Hypothesis
- Defense of the EMH and current status of classical finance
- The Law of One Price and No-Arbitrage Pricing (until slide VI.20)
- Law of One Price, Value Additivity Theorem
- Arbitrage strategy, Fundamental Theorem of Asset Prices (see additional slides)
- MM's proposition I
- Complete markets (appendix A6a)
|
|
02.12.2019
|
Topics:
- No-Arbitrage Pricing
- Discussion of MM's proposition I
- Derivative pricing (until slide VI.38)
- Derivatives (appendix A6b: until slide A6.10)
|
|
09.12.2019
|
Topics:
- No-Arbitrage Pricing
- Term Structure of Interest Rates (until slide VII.24)
|
|
16.12.2019
|
Topics:
- Term Structure of Interest Rates
- Bond Price Volatility - Duration and Convexity (until slide VIII.20)
|
|
23.12.2019
|
Christmas holidays
|
|
30.12.2019
|
Christmas holidays
|
|
06.01.2020
|
Christmas holidays
|
|
13.01.2020
|
Topics:
- Bond Price Volatility - Duration and Convexity: Immunization
- Optimal Portfolio Selection and Risk Diversification: Mean-Variance Approach (until slide IX.19)
|
|
20.01.2020
|
Topics:
- Optimal Portfolio Selection and Risk Diversification: Mean-Variance Approach
|
|
Do not forget to register for the exam!
Registration for the lecture does not include registration for the exam.
Check after registration that your status is "vorgemerkt" / "Pregistered".
The final registration is made after the end of the registration period.
Students registered for a master program of another faculty please contact me if you are not registered after the end of the registration period
such that we can register you for the exam.
Bachelor students are not allowed to take the exam.
Students not being registered are not allowed to take the exam.
|
Mon, 27.01.2020
15:00-17:00
|
HS 1: 1st Examination date
|
Mon, 24.02.2020
15:00-17:00
|
HS 1: 2nd Examination date
|
Wed, 10.06.2020
15:00-17:00
|
24.06.2020, 10:00-12:30
HS 14: 3rd Examination date
|
Mon, 21.09.2020
15:00-17:00
|
HS 1: 4th Examination date
|
Contact