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Regular version of the site
Bachelor 2022/2023

Investment Portfolio Management

Area of studies: Economics
When: 4 year, 1-4 module
Mode of studies: distance learning
Online hours: 64
Open to: students of one campus
Instructors: Elena Dimova, Dmitriy Alexandrovich Kachalov, Kristina Pogosbekyan, Viktor Kimovich Shpringel, Кирьянов Владислав Владимирович
Language: English
ECTS credits: 10
Contact hours: 112

Course Syllabus


Pre-requisites: Microeconomics, basic calculus and probability theory, linear algebra, Principles of banking and finance. Investment Management is a year-long course for 4th year students at ICEF. The course is taught in English.
Learning Objectives

Learning Objectives

  • provide an overview of institutional details linked to financial markets and the trading process
  • provide an overview of historical trends and innovations in financial instruments and trading processes
  • provide an overview of various financial instruments
  • provide insight into the use of finance theory in investment management
  • provide a guide to the measurement and analysis of risk of financial investments
  • provide a guide to the measurement of performance of fund management
  • address key issues in risk management
Expected Learning Outcomes

Expected Learning Outcomes

  • Aptly define immunisation strategies and highlight their main applications in detail
  • Briefly recall important historical trends in the innovation of markets, trading and financial instruments
  • Competently identify established risk management techniques used
  • Contrast key characteristics of given financial instruments
  • Define market microstructure and evaluate its importance to investors
  • Discuss measures of portfolio risk-adjusted performance in detail and critically analyse the key challenges in employing them
  • Explain the fundamental drivers of diversification as an investment strategy for investors
  • List given types of financial instruments and explain how they work in detail
  • Name key facts related to the historical return and risk of bond and equity markets
  • Relate key facts of the managed fund industry
  • • To apply financial economic theory to investment problems
  • • To be able to engage in financial markets and the trading process
Course Contents

Course Contents

  • Financial markets and instruments
  • History of financial markets
  • Active Fund Management and Investment Strategies
  • Market Microstructure
  • Diversification
  • Portfolio immunization
  • Risk and performance measurement
  • Risk management
Assessment Elements

Assessment Elements

  • non-blocking Home Assignments
  • non-blocking Class assignments, activity and group tasks
  • non-blocking Exam (covering the topics of 1st and 2nd modules)
  • non-blocking Final Exam
Interim Assessment

Interim Assessment

  • 2022/2023 2nd module
    0.7 * Exam (covering the topics of 1st and 2nd modules) + 0.15 * Class assignments, activity and group tasks + 0.15 * Home Assignments
  • 2022/2023 4th module
    0.1 * Home Assignments + 0.5 * Final Exam + 0.1 * Class assignments, activity and group tasks + 0.3 * 2022/2023 2nd module


Recommended Core Bibliography

  • Brunnermeier, M. K. (2001). Asset Pricing under Asymmetric Information: Bubbles, Crashes, Technical Analysis, and Herding. Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.oxp.obooks.9780198296980
  • Lo, A. W. (2010). Hedge Funds : An Analytic Perspective - Updated Edition (Vol. Rev. and expanded ed). Princeton: Princeton University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=350096

Recommended Additional Bibliography

  • Financial markets and corporate strategy, Grinblatt, M., 2002
  • Investments, Bodie, Z., 2005