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Бакалавриат 2019/2020

Финансирование и инвестирование в инфраструктуру

Статус: Курс по выбору (Экономика и статистика)
Направление: 38.03.01. Экономика
Когда читается: 4-й курс, 3 модуль
Формат изучения: с онлайн-курсом
Язык: английский
Кредиты: 2
Контактные часы: 2

Course Syllabus

Abstract

The course focuses on how private investors approach infrastructure projects from the standpoint of equity, debt, and hybrid instruments. The course concentrates on the practical aspects of project finance: the most frequently used financial techniques for infrastructure investments. The repeated use of real life examples and case studies will allow students to link the theoretical background to actual business practices. In the end of the course, students will be capable of analyzing a complex transaction, identifying the key elements of a deal, and suggesting proper solutions for deal structuring from a financial advisor's perspective.
Learning Objectives

Learning Objectives

  • In the end of the course, students will be capable of analyzing a complex transaction, identifying the key elements of a deal, and suggesting proper solutions for deal structuring from a financial advisor's perspective.
Expected Learning Outcomes

Expected Learning Outcomes

  • Student analyzes the nature of the SPV (Special Purpose Vehicle) as an empty shell and the key contracts surrounding it (project contracts and financial contracts)
  • Student analyzes the relationship between the SPV and its lenders.
  • Student prepares a risk matrix for an infrastructure project
  • Student analyzes the budgeting of the operational phase pointing our attention to the sources and uses of funds.
Course Contents

Course Contents

  • Project Finance and the Network of Contracts
    Project Finance and the Network of Contracts Introduction. What Is Project Finance? Financial Contracts: Shareholder. Financial Contracts: Lenders. Metro 5. Industrial Contracts.
  • Syndicate
    What Is a Syndicate? What Roles Do Banks Perform? Which Syndication Strategy Can Be Used? How Much Does the Customer Pay? How Has the Financial Crisis Reshaped the Market?
  • Risk Analysis
    Risk Taxonomy. Pre-Completion Risks. Post-Completion Risks. Risks Common to Both Phases. The Risk Matrix and Takeaways.
  • Capital Budgeting
    Project Finance and the Set up of Capital Budgeting. Setting Up The Construction Phase Budget. How to Finance Construction. Setting up the Operational Phase Budget.
Assessment Elements

Assessment Elements

  • non-blocking Оценка выполненных заданий при прохождении онлайн курса по теме 1
  • non-blocking Оценка выполненных заданий при прохождении онлайн курса по теме 2
  • non-blocking Оценка выполненных заданий при прохождении онлайн курса по теме 3
  • non-blocking Оценка выполненных заданий при прохождении онлайн курса по теме 4
  • non-blocking Final assessment
Interim Assessment

Interim Assessment

  • Interim assessment (3 module)
    0.2 * Final assessment + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 1 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 2 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 3 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 4
Bibliography

Bibliography

Recommended Core Bibliography

  • Peterson Drake, P., & Fabozzi, F. J. (2010). The Basics of Finance : An Introduction to Financial Markets, Business Finance, and Portfolio Management. Hoboken, NJ: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=335336

Recommended Additional Bibliography

  • Rin, M. D., Hellmann, T., & Puri, M. (2013). A Survey of Venture Capital Research. Handbook of the Economics of Finance, 573. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.eee.finchp.2.a.573.648