UPDATE: Due to the global COVID-19 pandemic we will no longer be offering this course in summer 2020. Please check our latest news on this situation here.
You can still register your interest in this course for 2021 using the ‘Sign up’ button to the right.
In this course, you will learn about the theory and application of Financial Securities and Corporate Finance. In three intensive weeks, you will explore financial instruments, such as equity, fixed income and derivative securities, as well as key concepts in Corporate Finance.
In Part 1: Asset Markets you will gain an integrated view of three important asset classes - fixed income securities, stocks and derivatives.
Fixed-income securities - such as Bonds - are used by governments and companies to raise finance. Our exploration of Stocks will build your knowledge of the key concepts of risk, return, diversification and portfolio theory, and the Capital Asset Pricing Model (CAPM) for describing the relationship between systematic risk expected return. We will look at market efficiency theory, and consider whether the market values stocks efficiently, or whether it is possible to “beat” the market to make abnormal returns leading to large profits.
You will also build an understanding of derivative instruments like forwards, futures, options and swaps, and their application in trading.
In Part 2: Corporate Finance you will gain an understanding of how firms analyse and decide which investment opportunities they should pursue, as well as the various options for raising the necessary funds to finance those investments.
On completion of the course, you will have a deeper understanding of how firms choose their capital structure, the conflicts between shareholders and debt holders that influence how firms are run, and incentives to adopt riskier strategies as a function of overall leverage.
Dates: 22 June – 10 July 2020
Lecturers: Dr Dong Lou and Dr Georgy Chabakauri
Dates: 3 August – 21 August 2020
Lecturers: Dr Ashwini Agrawal and Dr Thummim Cho
(Due to popularity, this course is repeated and can be taken in either of the sessions outlined above.