Current Topics and Modern Financial Markets

2022/2023

Учебный год

ENG

Обучение ведется на английском языке

6

Кредиты

Кто читает:

Отдел сопровождения учебного процесса в Совместном бакалавриате ВШЭ-РЭШ

Статус:

Курс по выбору

Когда читается:

4-й курс, 3, 4 модуль

Course Syllabus

Abstract

The overall purpose of the course is to engage students into the discussion of current issues and challenges that global financial markets are facing in the aftermath of financial crisis. The course will touch on numerous public policy issues, many of which are politically controversial and most of which are likely to continue to be important for years to come.

Learning Objectives

• A goal of the course is to provide students with a framework within which these public policy issues can be addresses in a useful manner. Students should be prepared to discuss and defend the ideas in their write-ups in class. For some questions, there is no “right” or “wrong” answer, in the sense that finance and economics professors themselves are likely to disagree about the answers to the questions. Students may talk to other students about the assigned questions, but each student should prepare a write-up individually, without looking at the write-ups of other students. Each student should list on the write-up the names of the other students with whom the student discussed the write-up.

Expected Learning Outcomes

• The students are able to assess critically their personal and someone else's experience in the current economic situation.
• The students are able to interprete economic events taking place in the global financial market.
• The students are engaged into the discussion of current issues and challenges that global financial markets are facing in the aftermath of financial crisis.

Course Contents

• Abacus Deal, Financial Crisis 2008‐2009
• Derivatives ‐ Buffett vs AIG
• London Whale Case ‐ Regulations after Financial Crisis
• Commodities Markets and Hedging
• Structuring of Retirement Systems
• Government Finance
• Sovereign Wealth Funds and Review

Assessment Elements

• Case write‐ups
  Case write-ups should be succinct and self-contained. Long write-ups are not necessarily good writeups. Good business writing makes points in a manner that respects the reader’s time. Typically, the answers to questions will not be heavily mathematical, but mathematical intuition will often be required to address some of the questions. Write-ups should be uploaded onto mynes at the beginning of class, including the very first class. Students have to submit at least 5 out of 7 assignments. If students submit all 7 assignments, then the best 5 are counted towards their final grade.
• In‐class tests
• Class participation
  Class attendance and participation are required. Each class several related financial concepts or theories will be discussed; students should review what they learned about these topics in other courses.
• Final test
  A final 90-minute test is in-class and closed-book. One double-sided A4 cheat-sheet is allowed.
• Case write‐ups
  Case write-ups should be succinct and self-contained. Long write-ups are not necessarily good writeups. Good business writing makes points in a manner that respects the reader’s time. Typically, the answers to questions will not be heavily mathematical, but mathematical intuition will often be required to address some of the questions. Write-ups should be uploaded onto mynes at the beginning of class, including the very first class. Students have to submit at least 5 out of 7 assignments. If students submit all 7 assignments, then the best 5 are counted towards their final grade.
• In‐class tests
• Class participation
  Class attendance and participation are required. Each class several related financial concepts or theories will be discussed; students should review what they learned about these topics in other courses.
• Final test
  A final 90-minute test is in-class and closed-book. One double-sided A4 cheat-sheet is allowed.

Interim Assessment

• 2022/2023 3rd module
• 2022/2023 4th module

Bibliography

Recommended Core Bibliography

• Elements of financial risk management, Christoffersen, P. F., 2012
• Hull, J. C. (2017). Options, Futures, and Other Derivatives, Global Edition. [Place of publication not identified]: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1538007
• Röman, J. R. M. (2017). Analytical Finance: Volume I : The Mathematics of Equity Derivatives, Markets, Risk and Valuation. Cham, Switzerland: Palgrave Macmillan. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1344244

Recommended Additional Bibliography

• Remington, T. F. (2019). Institutional Change in Authoritarian Regimes: Pension Reform in Russia and China. Problems of Post-Communism, 66(5), 301–314. https://doi.org/10.1080/10758216.2018.1450154