BPF_FITR Financial Markets

Faculty of Economics and Administration
Autumn 2024
Extent and Intensity
2/2/0. 6 credit(s). Type of Completion: zk (examination).
In-person direct teaching
Teacher(s)
Ing. Dagmar Vágnerová Linnertová, Ph.D. (lecturer)
Ing. Martina Halousková (seminar tutor)
Ing. Mgr. Matúš Horváth (seminar tutor)
Ing. Joachim Oliver Mampouya (seminar tutor)
Ing. Bc. David Vondráček (seminar tutor)
Providers of Specific teaching support
Ing. Jana Lundová (zapisovatel)
Lucie Sobotková (zapisovatel)
Guaranteed by
Ing. Dagmar Vágnerová Linnertová, Ph.D.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Mon 8:00–9:50 P101, except Mon 16. 9., except Mon 4. 11.
  • Timetable of Seminar Groups:
BPF_FITR/01: Thu 16:00–17:50 VT105, except Thu 19. 9., except Thu 7. 11., M. Halousková, J. Mampouya
BPF_FITR/02: Wed 12:00–13:50 VT105, except Wed 18. 9., except Wed 6. 11., D. Vondráček
BPF_FITR/03: Tue 12:00–13:50 VT105, except Tue 17. 9., except Tue 5. 11., M. Horváth
BPF_FITR/04: Thu 12:00–13:50 VT105, except Thu 19. 9., except Thu 7. 11., J. Mampouya
BPF_FITR/05: Wed 8:00–9:50 VT105, except Wed 18. 9., except Wed 6. 11., D. Vondráček
BPF_FITR/06: Tue 18:00–19:50 VT105, except Tue 17. 9., except Tue 5. 11., M. Horváth
BPF_FITR/07: Tue 14:00–15:50 VT314, except Tue 17. 9., except Tue 5. 11., M. Horváth
BPF_FITR/08: Wed 14:00–15:50 VT206, except Wed 18. 9., except Wed 6. 11., M. Horváth
BPF_FITR/09: Thu 18:00–19:50 VT105, except Thu 19. 9., except Thu 7. 11., J. Mampouya
Prerequisites (in Czech)
(! BPF_FMRA Financial Markets )&&(! BPF_FMRN Financial Markets )&& (! MPF_AFIM Financial Markets )
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
The capacity limit for the course is 210 student(s).
Current registration and enrolment status: enrolled: 219/210, only registered: 8/210, only registered with preference (fields directly associated with the programme): 6/210
fields of study / plans the course is directly associated with
Course objectives
The aim of the course is to describe the role of financial system and individual markets within economic system, to determine particular markets and understand the structure of financial products. The course is divided in 4 blocks correspond with the structure of the financial market and the aim of each block is to provide the information about the structure and main products of a market and methods of valuation. The theoretical knowledge are linked with real market data obtained from the LSEG or Yahoo Finance.
Learning outcomes
The student will be able to specify and characterize the structure of the financial market and individual forms of markets with a closer focus on the money market, the bond and stock market and the derivatives market. Students will be able to classify individual financial products, understand their characteristics and valuate them. Students will be able to formulate investment decisions based on risk and return and understand the basic principles of portfolio theory and diversification. After completing the course, students will be able to discuss the advantages and disadvantages associated with individual investment products and will orientate themselves in selected segments of the financial market. Students will understand the importance of the financial market in raising capital and its importance compared to commercial banks.
Syllabus

  • Lectures:
  • 1. The structure of the financial system and its importance in the economy
  • 2. Analysis of the money market
  • 3. Analysis of the bond market
  • 4. Methods for the valuation of bonds
  • 5. Stock market analysis, stock offering and the role of investors
  • 6. Methods applicable to share valuation, technical analysis of shares
  • 7. Theory of efficient market
  • 8. Market indices and their importance in the financial market
  • 9. Basics of portfolio theory
  • 10. Collective investment products and fund performance evaluation methods
  • 11. Derivatives market – forward and futures contracts
  • 12. Derivatives market – options and option formation/strategy
    Seminars:
  • 1. Introductory seminar, time value of money
  • 2. The structure of the financial system and its importance in the economy
  • 3. Analysis of the money market
  • 4. Analysis of the bond market, methods usable for bond valuation
  • 5. Stock market analysis, stock offering and the role of investors
  • 6. Interm test number 1
  • 7. Methods applicable to share valuation and technical analysis of shares
  • 8. Theory of efficient market
  • 9. Market indices and their importance in the financial market
  • 10. Basics of portfolio theory
  • 11. Derivative market
  • 12. Interim test number 2
Literature
    required literature
  • MADURA, Jeff. Financial markets and institutions. 12th edition. Boston: Cengage, 2018, xxxiii, 76. ISBN 9781337099745. info
  • VESELÁ, Jitka. Investování na kapitálových trzích. 3. vydání. Praha: Wolters Kluwer, 2019, 950 stran. ISBN 9788075982124. info
    recommended literature
  • MICHAEL, McMillan and Gerhard PINTO. Investments: Principles of Portfolio and Equity Analysis. CFA Institute Investment Series Set, 2011. ISBN 978-0-470-91580-6. info
  • BODIE, Zvi, Alex KANE and Alan J. MARCUS. Investments. 10th global ed. Maidenhead: McGraw-Hill Education, 2014, xxviii, 10. ISBN 9780077161149. info
  • MISHKIN, Frederic S. and Stanley G. EAKINS. Financial markets and institutions. Ninght edition, global editi. Harlow, England: Pearson, 2018, 688 stran. ISBN 9781292215006. info
Teaching methods
The course is divided into individual lectures and seminars. The lectures copy the course syllabus. Powerpoint presentations are available to students online and individual topics are discussed during the lecture. At the seminars, a short "small talk" is presented by a student, which deals with a current problem in the field of finance, or financial market. Theory is practiced using exercises. The lecturer regularly prepares an assignment that is solved at the seminar, and at the end of each seminar, he awards points for the student's individual solution. Students are also assigned homework, which is handed in through the IS MUNI Depository Vault.
Assessment methods
The course ends with a written exam in the form of a test. The total score of the written exam is 50 points.
During the lecture (usually at the end), students will be given access to KvIS, where they can answer 4 questions related to the topics covered in that lecture. Each question is worth one point, and 50% of the earned points will be added to the overall course evaluation (e.g., if a student receives 4 points in KvIS, 2 points will be counted towards the next evaluation). The test is only available during the designated time of the lecture and cannot be taken at any other time.
Two intermediate tests are written in the seminar with a maximum of 30 points per test (the structure of the intermediate test is a test and calculation examples). A student must obtain a minimum of 36 points in total for both tests in order to be admitted to the exam
The student must prepare and present a short presentation on the current topic according to the information detailed at the seminar (maximum 10 points), which are included in the final assessment.
In the seminars, the student can get extra points based on his independent work, the maximum extra points per seminar is 2 points. Individual points from the seminars are added to the student's final assessment and can improve the final grade!
Students can also get additional points from homework, up to a maximum of 2 points for correctly completed homework.
The student is required to submit a minimum of 6 homework assignments solved correctly (thus receiving a minimum of 12 points) and receiving activity points in at least  5 exercises (thus receiving a minimum of 10 points). If the student does not meet the requirement of the minimum number of points for the activity and/or homework, he can write a make-up test in the first week of the exam period. If he writes the test for at least 60%, he will be admitted to the exam.
If a student does more homework or gets more points for an activity in seminars, these points are added to the course evaluation. Attendance at seminars is required, a maximum of 3 unexcused absences per semester are possible.
In the case that a student does not meet any condition (except number of unexcused absences) for admission to the exam, he has the right to one extra test, which will be written in the first week of the exam period. This test needs to be written for 60 percent, in this case the student is admitted to the final exam with the points obtained during the semester (i.e. the points from this extra test are not taken into account in the final evaluation). The test will be in the form of multiple choice with one correct answer and covers the topis covered during the semester. The total point gain from the subject is designed to be 142 points, and at least 60 percent (86 points) is required for successful completion of the subject. The student can improve the number of points achieved by activity beyond the required framework (see above).
The following scale is used to evaluate students: A 92 - 100%, B 84 - 91%, C 76 - 83%, D 68 - 75%, E 60 - 67%, F less than 60%.
If a student commits a prohibited act, such as using various forbidden tools (e.g. cheatsheets), cribbing, taking out any part of the test or any other form of cheating, the teacher is allowed to interrupt the test and to grade the student with F according to the seriousness of the offence. The described procedure applies to all the activities that are included in the final evaluation of the course (semester paper).
In the case of departure, the student is obliged to contact the subject guarantor before departure and agree on the dates for fulfilling the stated conditions. In the case of a student going abroad, the student is required to write 2 intermediate tests and a final exam to pass the course. The grade will be based on the total number of points the student receives from all three compulsory parts or the pass the similar course in an incoming university.
Language of instruction
Czech
Further comments (probably available only in Czech)
Study Materials
The course is taught annually.
General note: Přednášky jsou dostupné online a ze záznamu.
Credit evaluation note: k = 1,00.
Listed among pre-requisites of other courses
The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2023.
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