《金融經(jīng)濟(jì)學(xué)全英文1》課程教學(xué)大綱

1、金融經(jīng)濟(jì)學(xué)全英文1課程教學(xué)大綱一、課程基本信息課程名稱(chēng)：金融經(jīng)濟(jì)學(xué)課程代碼：FIN931 學(xué) 分：3學(xué) 時(shí)：3學(xué)時(shí)/課，共54學(xué)時(shí)。二、任課教師、助教、教室等情況（四）教 室：J213 （五）上課時(shí)間：每周三下午5-7節(jié)（六）紀(jì) 律：1、無(wú)特殊情況，不允許無(wú)故缺課。 2、 課程所涉及的作業(yè)和課程論文等在規(guī)定時(shí)間內(nèi)提交，獨(dú)立完成，不得有抄襲現(xiàn)象，一經(jīng)發(fā)現(xiàn)，均記零分。三、閱讀材料（一）教材：Bailey R.E. The Economics of Financial Markets, Cambridge University Press, 2005; 世界圖書(shū)出版公司2014影印版（二）參考書(shū)1.

2、 Bodie, Z., R. Merton, and D. Cleeton, Financial Economics, Prentice Hall, 2nd edition, 2008.2. Bodie, Z., A. Kane, and A. Marcus, Investments, McGraw-Hill Education, 9th edition, 2012.3. Fabozzi, F., E. Neave, and G. Zhou, Financial Economics, John Wiley & Sons, 2012.四、課程內(nèi)容概要課程以習(xí)近平新時(shí)代中國(guó)特色社會(huì)主義思想為指導(dǎo)，

3、深入貫徹落實(shí)習(xí)總書(shū)記在全國(guó)高校思想政治工作上的講話(huà)精神，將專(zhuān)業(yè)課程與思政教育相結(jié)合，將知識(shí)傳遞與價(jià)值引領(lǐng)有機(jī)融入，培養(yǎng)學(xué)生的政治意識(shí)、大局意識(shí)、核心意識(shí)、看齊意識(shí)；樹(shù)立正確的社會(huì)主義核心價(jià)值觀，培養(yǎng)合格的新時(shí)代中國(guó)特色社會(huì)主義合格建設(shè)者和可靠接班人。雖然授課內(nèi)容雖然側(cè)重金融理論模型的介紹，但是在整個(gè)課程中，將風(fēng)險(xiǎn)的概念一直貫穿始終，讓學(xué)生充分認(rèn)識(shí)風(fēng)險(xiǎn)在資本市場(chǎng)中的重要作用。結(jié)合“19大”報(bào)告指出的防范重大風(fēng)險(xiǎn)是當(dāng)前國(guó)家面臨的一項(xiàng)重要任務(wù)，在課程中每講涉及的案例或?qū)嵶C發(fā)現(xiàn)的討論中加入與風(fēng)險(xiǎn)有關(guān)的內(nèi)容。課程雖為全英文課程，但要讓學(xué)生充分認(rèn)識(shí)我國(guó)資本市場(chǎng)歷史和沿革，了解中國(guó)國(guó)情。本課程結(jié)合專(zhuān)業(yè)教育，

4、講好習(xí)近平中國(guó)特色社會(huì)主義經(jīng)濟(jì)思想管理思想，深挖中國(guó)經(jīng)濟(jì)社會(huì)發(fā)展和管理實(shí)踐中的優(yōu)秀做法和典型案例，不斷增強(qiáng)學(xué)生的“四個(gè)自信”，教育引導(dǎo)學(xué)生正確認(rèn)識(shí)世界和中國(guó)發(fā)展大勢(shì)、中國(guó)特色和國(guó)際比較、時(shí)代責(zé)任和歷史使命以及遠(yuǎn)大抱負(fù)和腳踏實(shí)地。本課程將在課程資源的建設(shè)和展示方式上使用新技術(shù)和新方式，充分使用慕課、微課等形式，以網(wǎng)絡(luò)和視屏等多種方式呈現(xiàn)金融經(jīng)濟(jì)學(xué)課程的課程資源。讓學(xué)生利用課前、課后甚至娛樂(lè)時(shí)間對(duì)知識(shí)點(diǎn)和案例進(jìn)行更優(yōu)化的學(xué)習(xí)和理解，通過(guò)碎片化的時(shí)間、便攜式電子設(shè)備和通訊手段使案例知識(shí)具備多樣性、開(kāi)放性、吸引性。合理設(shè)計(jì)課程資源的展現(xiàn)形式，力求做到共性與個(gè)性相結(jié)合，既注重課程內(nèi)容的價(jià)值取向，也應(yīng)遵循

5、學(xué)生在學(xué)習(xí)過(guò)程中的獨(dú)特體驗(yàn)；做到正面教育與紀(jì)律約束相結(jié)合與新時(shí)代的發(fā)展需求相結(jié)合，堅(jiān)持以正面引導(dǎo)、說(shuō)服教育為主，積極疏導(dǎo)，啟發(fā)教育，同時(shí)輔之以必要的紀(jì)律約束，引導(dǎo)學(xué)生品德向正確、健康方向發(fā)展。（一）課程目標(biāo)This course focuses on the theoretical and analytical underpinnings of basic concepts in modern finance theory. Following a brief introduction of financial markets, this course explores how the eco

6、nomics of uncertainty can be applied to financial decision making. The mean-variance model of portfolio selection is discussed in detail, with analysis extended to the capital asset pricing model (CAPM). This course will also introduce investor behavioral and behavioral finance. Finally, financial d

7、erivatives are explored, focusing on option contract.（二）課程內(nèi)容序號(hào)題目知識(shí)點(diǎn)學(xué)時(shí)（課堂教授）1Asset markets and asset pricesThe main types of capital marketsFundamental principles of asset price determination ArbitrageAsset market efficiency42Predictability of prices and market efficiency Random walks of asset prices

8、 and martingales Asset market efficiency and anomalies83Decision making under uncertaintyExpected utility theoryRisk aversion and the measure of risk aversionRisk aversion and portfolio choice44Portfolio choice problem and mean-variance analysisOptimal choice problemMarkowitz Efficient frontier85The

9、 capital asset pricing modelMarket portfolioThe capital asset pricing modelCapital market line and security market line36ArbitrageNo arbitrage and state pricesRisk neutral probabilities47Empirical appraisal of the CAPM and factor modelsCAPM modelFama-French (1993) three factor model48Sentiment and t

10、rading strategyInvestor sentiment Anormalies49Option marketsCall options and put optionsPut-call parity6課時(shí)總計(jì)：51學(xué)時(shí)課程教授（45學(xué)時(shí)）+項(xiàng)目展示（3學(xué)時(shí)）+平時(shí)測(cè)驗(yàn)（3學(xué)時(shí)）（三）課程要求1.課前課后按每次講義要求進(jìn)行課前預(yù)習(xí)和課后復(fù)習(xí)。2.作業(yè)：請(qǐng)?jiān)谝?guī)定時(shí)間內(nèi)提交作業(yè)，逾期不收。每次作業(yè)都將登記。作業(yè)請(qǐng)獨(dú)立完成，若發(fā)現(xiàn)有抄襲，不計(jì)成績(jī)，請(qǐng)認(rèn)真對(duì)待。3.課程包含一次項(xiàng)目報(bào)告和展示，學(xué)生以小組的形式參加項(xiàng)目，具體要求參照項(xiàng)目?jī)?nèi)容。（四）課程安排課程講授內(nèi)容授課方式作業(yè)(教材)/測(cè)驗(yàn)輔助

11、學(xué)習(xí)材料1Lecture 1 Asset markets and asset pricesThe main types of capital marketsFundamental principles of asset price determination 講授課外閱讀文獻(xiàn)查詢(xún)、閱讀Bailey Chapter 1，各大財(cái)經(jīng)媒體有關(guān)中國(guó)資本市場(chǎng)的介紹融資融券政策有關(guān)內(nèi)容Shanghai Stock Exchange,Shenzhen Stock Exchange, etc.2Lecture 1 Asset markets and asset pricesHistorical risk pre

12、mium of the equityTime varying risk premium and how to interpret 視頻課視屏觀看、閱讀完成視屏學(xué)習(xí)作業(yè) Bailey Chapter 1，John Cochrane, financial economics (video course) chapter 2.a, chapter 2.bFilm：Too big to Fail.3Lecture 1 Asset markets and asset pricesArbitrageMargin trading講授課外閱讀文獻(xiàn)查詢(xún)、閱讀Bailey Chapter 1，各大財(cái)經(jīng)媒體有關(guān)中國(guó)

13、資本市場(chǎng)的介紹融資融券政策有關(guān)內(nèi)容Shiller, R. J. (2006), Irrational Exuberance, Crown, 2nd edition. 非理性繁榮4Lecture 2 Predictability of prices and market efficiency講授課外閱讀文獻(xiàn)查詢(xún)、閱讀Bailey, Chapter 2&3Malkiel, B. G. (2011) , A Random Walk down Wall Street, Norton, completely revised and updated edition.Shiller, R. J. (2006

14、), Irrational Exuberance, Crown, 2nd edition. 非理性繁榮5Lecture 2 Predictability of prices and market efficiency講授課外閱讀文獻(xiàn)查詢(xún)、閱讀Bailey, Chapter 2&3Malkiel, B. G. (2011) , A Random Walk down Wall Street, Norton, completely revised and updated edition.Shiller, R. J. (2006), Irrational Exuberance, Crown, 2nd

15、edition. 非理性繁榮6Lecture 3 Decision making under uncertaintyExpected utility theoryRisk aversion and the measure of risk aversion視屏課 視屏學(xué)習(xí)、閱讀Bailey, Chapter 3&4Course PPT, Chapter 3: Decision making under uncertaintyJohn Cochrane, financial economics (video course) Chapter 1.Fabozzi, F., E. Neave, and

16、G. Zhou, Financial Economics, John Wiley & Sons, 2012, Ch. 9.Elton, E., M. Gruber, S. Brown and W. 7Lecture 4 Portfolio choice problem and mean-variance analysisOptimal choice problemMarkowitz Efficient frontier視頻課閱讀Bailey, Chapter 5Yale open course: Portfolio diversification and CAPM (part 1)Bodie,

17、 Kane and Marcus, Investments, McGraw Hill, 8th. 2009, chapter 6 &7Bodie, Z., R. Merton, D. Cleeton, Financial Economics, Prentice Hall, 2nd edition, 2008, chapter 10, 11. 8Lecture 5 The capital asset pricing modelMarket portfolioThe capital asset pricing modelCapital market line and security market

18、 lineLecture 6 Arbitrage視頻課文獻(xiàn)查詢(xún)、閱讀Bailey, Chapter 6 &7Yale open course: Portfolio diversification and CAPM (part 2)Bodie, Z., R. Merton, D. Cleeton, Financial Economics, Prentice Hall, 2nd edition, 2008, Ch13. Bodie, Kane and Marcus, Investments, McGraw Hill, 8th. 2009, Ch 9,13. 9Lecture 7 Empirical

19、 appraisal of the CAPM and factor modelsEmpirical examination of CAPM Fama-French (1993) three factor model講授課外閱讀文獻(xiàn)查詢(xún)、閱讀Bailey, Chapter 9Bodie, Kane and Marcus, Investments, McGraw Hill, 8th. 2009, Ch. 13.10Lecture 7 Empirical appraisal of the CAPM and factor modelsEmpirical examination of CAPM Fama

20、-French (1993) three factor model視屏課文獻(xiàn)查詢(xún)、閱讀視屏觀看Fama, E.F., and K.R. French (1992), The Cross-Section of Expected Stock Returns, Journal of Finance, 47, 427-465.Fama, E.F., and K.R. French (1993), Common Risk Factors in the Returns on Stocks and Bonds, Journal of Financial Economics, 33, 3-56.John Co

21、chrane, financial economics (video course) Chapter 2.3.11Lecture 8 Sentiment and trading strategy 講授課外閱讀文獻(xiàn)查詢(xún)、閱讀Baker, M., and J.Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, Journal of Finance 61, 16451680.Stambaugh, R. F., J. Yu, and Y. Yuan (2012), “The short of it:

22、Investor sentiment and anomalies”,Journal of Financial Economics 104, 288302.12Lecture 8 Sentiment and trading strategy 視屏課文獻(xiàn)查詢(xún)、閱讀完成視屏學(xué)習(xí)Baker, M., and J.Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, Journal of Finance 61, 16451680.Stambaugh, R. F., J. Yu, and Y. Yuan (2012), “The short of it: Investor sentiment and anomalies”,Journal of Financial Economics 104, 288302.John Cochrane, financial economics (video course) Chapt