From the beginning of the course unit it is assumed that you have a working understanding of basic concepts in economics (e.g., demand and supply, utility functions, indifference curves), introductory financial management (e.g., present values, discount factors, returns), mathematics (natural logarithms, exponentials, differentiation, resolution of simple equations and systems of equations), and statistics (e.g., expectations, variance, correlation, random variables). These are covered in virtually every course in economics and statistics at introductory (undergraduate) levels. You are warmly invited to make sure you understand all of these pre-requisite concepts. A good starting point, at an introductory level, is provided by chapters 1-4 of the textbook, Elton, Gruber, Brown, and Goetzmann, pp. 2-67. Additional reference readings will be suggested upon request from the students. However, the course unit is not responsible for reviewing or explaining basic notions in economics, financial management, and statistics that the students are assumed to possess upon their enrolment in the relevant specialist master degree.
Masters (MSc) in Finance
Learn the finance essentials; from derivatives and investments, to mergers and acquisitions and global markets.
This master's in finance enables you to work with our award-winning finance experts to build in-demand quantitative skills. You will gain the essential information needed to pursue a range of exciting finance careers at an international level.
The MSc Finance course has both CFA Institute Affiliate status and Economic and Social Research Council (ESRC) status which positions you to progress to a research degree. It is also linked to The Manchester Accounting and Finance Group – one of the leading accounting and finance units in Europe.
Read about other business Master's degree courses at Alliance MBS >>
Year of entry: 2019
Course unit details:
|Unit level||FHEQ level 7 – master's degree or fourth year of an integrated master's degree|
|Teaching period(s)||Semester 1|
|Offered by||Alliance Manchester Business School|
|Available as a free choice unit?||No|
The aims of this course are to introduce students the structure of the main theories that are popular in empirical and applied finance, as well as provide an understanding of how asset-pricing models are formally constructed
On completion of this unit successful students should have:
- An understanding of the basic theoretical foundations of the mainstream asset-pricing models.
- A systematic knowledge and understanding of issues at the forefront of research and practice in asset-pricing theories, including associated empirical evidence.
- An understanding of the limits of such knowledge and of the effects of this on analyses and interpretation.
- Appreciate alternative viewpoints on asset pricing issues
- The methods of assessment for this unit allow students to demonstrate achievement of all intended learning outcomes.
Written examination (100%) 2 hour
Informal advice and discussion during a lecture, seminar, workshop or lab.
Elton, E., M., Gruber, S., Brown, and W., Goetzmann, Modern Portfolio Theory and Investment Analysis: International Student Version, John Wiley & Sons; 8th International student edition edition (5 Mar 2010) ISBN-10: 9780470505847; ISBN-13: 978-0470505847
The main reading is given in the syllabus above. Please note that this list is not a fully comprehensive and that additional references may be given in lectures. A few handouts on the material covered will be made available before the relevant lectures.
Teaching materials, handouts, datasets, etc. will be available from the course unit website, on Blackboard. Additional announcements and discussion questions will be posted on the forum. It is essentially that students monitor contents and postings on the class Blackboard page at all times during the semester.
|Scheduled activity hours|
|Assessment written exam||2|
|Independent study hours|
|Hening Liu||Unit coordinator|
Informal Contact Methods
"Alliance MBS provides the opportunity to meet experts from your field of interest. You feel secure around the friendly environment and consistently feel the support of everybody. This year I lived everything to a maximum level; having fun with international friends and studying really hard. In a word, I would say that it was amazing!"