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Regular version of the site

Summer course in Financial Economics

To be offered within the HSE International Summer University

Title: Financial Economics

Workload: 2 ECTS credits, 16 academic hours

Language of instruction: English

Teaching team:

  • Sergey Stepanov, PhD, Associate Professor of Finance, International College of Economics and Finance;
  • Daniil Esaulov, Cand. of Sc. in Mathematics, Lecturer and Course Coordinator in Quantitative Finance, International College of Economics and Finance;
  • Udara Peiris, PhD, Associate Professor of Finance, International College of Economics and Finance.

Dates: 3rd - 8th of August 2019

Tuition fee: 400 USD, discounts available for students of our partner universities

Application deadline: April 20, 2020

Apply

Overview:

One of the main objectives of the course is to present the modern approach to the financial analysis of a company and teach the principles and techniques of evaluating the most important corporate decisions. The core of the course is the analysis of financing (capital structure) decisions of a firm.

At the same time the course provides coverage of important topics in modern Quantitative Finance and Risk Management.

Nonetheless, the course also gives an overview of the key issues in international finance.

Learning Outcomes:

  • Upon successful completion of the course students will:
  • Be able to understand the main theories of capital structure
  • Acquire basic practical skills of evaluating financial decisions of a company
  • Become familiar with recent empirical findings based on financial econometric models and understand practical issues in the forecasting of key financial market variables
  • Be able to improve and develop their intellectual and cultural level, to build a trajectory of professional development and career

Teaching methods

The following methods and forms of study are used in this course: lectures, a home assignment, practical classes, case study and self-study.

Assessment

All grades are given initially out of 100. The final grades are also transferred to 10- and 5-points grades in accordance with the ICEF Grading Regulations (par.3).

There will be a case (solution and participation in discussion) worth 50% and a final test worth 50%.

Suggested reading:

1. Christoffersen P.F., Elements of Financial Risk Management,Academic Press, London, 2011.

2. Jonathan Berk and Peter DeMarzo (BD), Corporate Finance, 2007, Pearson (or any later edition).

3. Brooks Ch., Introductory econometrics for finance,Cambridge University Press, 2002. (вообще гле-то существует  издание поновее -2019)

4. Ruey S. Tsay, Analysis of Financial Time Series,2010.

5. Obstfeld and Rogoff, 1996, “Foundations of International Macroeconomics,” MIT Press.

Course plan

Topics

Workload

Instructor

1.     Capital Structure: Theory and Practice - the analysis of financing (capital structure) decisions of a firm

6 academic hours

Sergey Stepanov, James Lewis

2.     Introduction to Quantitative Finance and Risk Management - insights in the functioning of financial markets, understanding of measuring and forecasting financial risks

6 academic hours

Daniil Esaulov

3.     Global Financial Flows and Financial Crises

4 academic hours

Udara Peiris

Prerequisites: The course is intended for the undergraduate students in their final years. To enroll in this course students should:

  • Be familiar with essential topics of mathematics (Multidimensional calculus, basics of optimization; Linear Algebra; Convex analysis and Kuhn-Tucker theorem; Theory of Be probability and statistics);
  • familiar with fundamental economics (Micro- and Macroeconomics, Elements of Econometrics); and
  • Have the level of English language skills advanced enough to take English-taught courses (IELTS 6.0+ or TOEFL 80+).

Contact:

Olga Nizhevich
International College of Economics and Finance
Master’s programme in Financial Economics
Phone: +7 495 580-89-19
Email: onizhevich@hse.ru