Aspects of investment and portfolio management and financial institutions and markets. Includes directed reading and seminars related to the functioning of capital markets.
This paper aims at providing a good understanding of the existing literature (scientific
research) on financial markets. For students who are planning further academic careers,
it will serve to provide an understanding of the main paths of scientific inquiry
and/or debate in existing literature and to help them acquire the necessary skills
to conduct research on financial markets. For students who plan a professional career
in financial markets, it will serve as a collection of state-of-the-art findings of
scientific inquiry that can be utilised in real/professional life. While these two
functions are separate, we will strive to combine them as I am a strong believer in
combining theory, research and practice. We will have a very comprehensive coverage
of the research published in high-quality academic journals on the following topics:
asset pricing, return predictability and market efficiency, foreign exchange markets,
the interaction between the real economy and financial markets, market microstructure,
behavioural finance and a number of smaller topics.
The topics will be
logically linked together, so it will not be reading randomly-selected papers. The
paper builds on a good level of understanding of financial markets concepts and terminology
and econometrics/statistics, which are prerequisites of this paper. (Students who
do not readily have these prerequisites should consult with me to fix the gap in a
realistic way.) This paper will also serve as a bridge between coursework and research,
specifically the BSNS 501 and BSNS 580 papers, for which I will act as a Co-ordinator.
| Paper title | Studies in Capital Markets |
|---|---|
| Paper code | FINC403 |
| Subject | Finance |
| EFTS | 0.1667 |
| Points | 20 points |
| Teaching period | Semester 1 (On campus) |
| Domestic Tuition Fees (NZD) | $1,163.90 |
| International Tuition Fees | Tuition Fees for international students are elsewhere on this website. |
- Recommended Preparation
- FINC 302
- Contact
- Teaching staff
- Paper Structure
- Some of the topics covered include:
- Asset Pricing
- Efficient Markets Theory Anomalies
- The interaction between real economy and capital markets
- Foreign Exchange Markets
- Market Microstructure
- Co-movement of national stock markets
- Econometric Applications
- Behavioural Finance
- Textbooks
Recommended textbook: The Econometrics of Financial Markets, by Campbell, Lo and MacKinlay.
- Course outline
- View the most recent Course Outline
- Graduate Attributes Emphasised
- Global perspective, Communication, Critical thinking, Information literacy, Self-motivation,
Teamwork.
View more information about Otago's graduate attributes. - Learning Outcomes
Students who successfully complete this paper should:
- Become familiar with all important paths of the academic literature on financial markets
- Be able to critically evaluate a research paper's methodology, hypotheses and the implications of its findings
- Be able to replicate basic formal or empirical work
- Be able to evaluate the significance and contribution of a potential research project in the perspective of existing literature
- Know how to access data sources and prepare data for econometric analysis
- Be able to solve a real/professional-life problem with the guidance of academic literature
