| Code |
14184
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| Year |
1
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| Semester |
S2
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| ECTS Credits |
7,5
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| Workload |
OT(3H)/TP(30H)
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| Scientific area |
Economics
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Entry requirements |
PhD Students who attend the course need to have previous knowledge of macroeconomics, microeconomics, econometrics, calculous, algebra, and financial and asset markets. The course requires intensive reading with real applications to financial markets.
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Learning outcomes |
i) Apply economic theory to assess how the time, risk (uncertainty), opportunity costs and information can create incentives or disincentives for a particular decision on the financial markets.
ii) Using models of economic behavior in financial markets.
iii) Use knowledge of the functioning of financial markets.
iv) Develop the necessary analytical knowledge about financial economics.
v) To understand the influence of informational efficiency of financial markets.
vi) Develop soft skills between microeconomics and macroeconomics and national and international financial markets.
vii) At the end of the course students should know the different methods discussed and models and have the ability to interpret and critically evaluate empirical studies in the field of financial economics, as well as being able to use these same methods.
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Syllabus |
1. Financial markets: micro and macro realities
1.1 Market efficiency; Price determination
1.2 Risk aversion and investment decisions
1.3 CAPM, CCAPM, Arrow-Debreu, APT
2. Interaction between financial markets: national and international perspective
2.1 Bond markets, Foreign exchange markets, Commodity markets
2.2 Choosing optimal investment portfolios
3. Choosing the optimal capital structure and dividend policy
3.1 The mix of capital sources and cost of funding sources
3.2 Empirical determinants in the choice of capital structure
4. New theories in finance and economics
4.1 The behavioural and experimental field: recent applications to financial markets
4.2 Financial equilibrium with differential information
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Main Bibliography |
1. Class notes and practical cases based over existent literature applications and real practical cases (exercises worksheets)
2. Oriented lectures of scientific articles (papers); Proposed case studies
3. Several scientific articles to be made available in elearning
4. Danthine, J.-P., Donaldson, J.B., 2014. Intermediate Financial Theory, 3rd Edition, Academic Press, ISBN :9780123865496.
5. LeRoy, S.F., Werner, J., 2014. Principles of Financial Economics, 2nd Edition, Cambridge University Press.
6. John Y. Campbell (2018). Financial Decisions and Markets: A Course in Asset Pricing. ISBN: 9780691160801, Pages: 480; Princeton and Oxford: Princeton University Press
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Language |
Portuguese. Tutorial support is available in English.
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