GBPGBP (Global Business Program)
ECN300FB-A5528（経済学 / Economics 300）Investments AInvestments A
Mitsuru Katagiri
授業コードなどClass code etc
| 学部・研究科Faculty/Graduate school | GBPGBP (Global Business Program) |
| 添付ファイル名Attached documents | |
| 年度Year | 2023 |
| 授業コードClass code | A5528 |
| 旧授業コードPrevious Class code | |
| 旧科目名Previous Class title | |
| 開講時期Term | 秋学期授業/Fall |
| 曜日・時限Day/Period | 金3/Fri.3 |
| 科目種別Class Type | |
| キャンパスCampus | 市ヶ谷 / Ichigaya |
| 教室名称Classroom name | 市BT‐0904 |
| 配当年次Grade | 2～4 |
| 単位数Credit(s) | 2 |
| 備考（履修条件等）Notes | |
| 他学部公開科目Open Program | |
| 他学部公開（履修条件等）Open Program (Notes) | |
| グローバル・オープン科目Global Open Program | |
| 成績優秀者の他学部科目履修制度対象Interdepartmental class taking system for Academic Achievers | |
| 成績優秀者の他学部科目履修（履修条件等）Interdepartmental class taking system for Academic Achievers (Notes) | |
| 実務経験のある教員による授業科目Class taught by instructors with practical experience | ○ |
| SDGsCPSDGs CP | |
| アーバンデザインCPUrban Design CP | |
| ダイバーシティCPDiversity CP | |
| 未来教室CPLearning for the Future CP | |
| カーボンニュートラルCPCarbon Neutral CP | |
| 千代田コンソ単位互換提供（他大学向け）Chiyoda Campus Consortium | |
| カテゴリーCategory |
専門教育科目／Business Administration Courses 専門科目／Intermediate/Advanced Courses of Business Administration |
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授業の概要と目的（何を学ぶか）Outline and objectives
First, students will be given an easy and concise overview of basic statistics concepts, including expectation, standard deviation, and correlation coefficient. Building on these concepts, students will learn an introductory modern portfolio theory, which proposes a method for building an optimal portfolio for a particular investor based on the expectation and the standard deviation of his or her portfolio. Furthermore, students will learn what is called the Capital Asset Pricing Model, which is a theoretical model about the tradeoff between risk and return on investments.
到達目標Goal
1. Students can compute the expected value and the standard deviation of returns of a security or a portfolio.
2. Students can describe how to construct the best portfolio for a particular investor.
3. Students can describe the differences between common and idiosyncratic risk.
4. Students can explain how diversified portfolios remove idiosyncratic risk.
5. Students can understand the tradeoff between risk and return for large portfolios.
6. Students can measure systematic risk.
7. Students can explain the Capital Asset Pricing Model (CAPM).
この授業を履修することで学部等のディプロマポリシーに示されたどの能力を習得することができるか（該当授業科目と学位授与方針に明示された学習成果との関連）Which item of the diploma policy will be obtained by taking this class?
This course is strongly related to the "DP1-1", "DP2-1", "DP2-2", "DP3" and "DP4" diploma policies and fairly related to the "DP1-3" and "DP1-4" policies.
授業で使用する言語Default language used in class
英語 / English
授業の進め方と方法Method(s)（学期の途中で変更になる場合には、別途提示します。 /If the Method(s) is changed, we will announce the details of any changes. ）
This course consists of a series of lectures with a few quizzes. Students get feedback on quizzes in class.
アクティブラーニング（グループディスカッション、ディベート等）の実施Active learning in class (Group discussion, Debate.etc.)
なし / No
フィールドワーク（学外での実習等）の実施Fieldwork in class
なし / No
授業計画Schedule
授業形態/methods of teaching：対面/face to face
※各回の授業形態は予定です。教員の指示に従ってください。
1[対面/face to face]：Introduction and an overview
Administrative business. In addition, students will be given an overview of this course.
2[対面/face to face]：Exptected returns
Students will learn how to compute the expected return on a security.
3[対面/face to face]：Standard deviation
Students will learn how to compute the standard deviation of returns on a security.
4[対面/face to face]：Expected return on a portfolio
Students will learn how to compute the expected return on a portfolio based on the expected returns of securities that are invested in the portfolio.
5[対面/face to face]：Standard deviation of the return of a portfolio
Students will learn how to compute the standard deviation of the return of a portfolio based on the standard deviations of securities contained in the portfolio.
6[対面/face to face]：Investment opportunity set when there is no riskless asset.
Delineate the investment opportunity set when there is no riskless asset.
7[対面/face to face]：Diversification in stock portfolios
Students will learn how diversification affects the expectation and the standard deviation of the return on a portfolio.
8[対面/face to face]：Common and idiosyncratic risk
Students will see how the total risk of a portfolio is decomposed into common and idiosyncratic risk. In addition, they will understand the significance of this decomposition.
9[対面/face to face]：Investment opportunity set when there is a riskless asset.
Delineate the investment opportunity set when there is a riskless asset.
10[対面/face to face]：CAPM1
Introduction to CAPM
11[対面/face to face]：Measuring systematic risk
Students will learn how the systematic risk of a security or a portfolio is measured.
12[対面/face to face]：CAPM2
Students will learn the Capital Asset Pricing Model (CAPM).
14[対面/face to face]：Practical application of the CAPM
Students will see practical applications of the CAPM.
14[対面/face to face]：In-class exam
An examination is given that covers the entire topics covered in this course.
授業時間外の学習（準備学習・復習・宿題等）Work to be done outside of class (preparation, etc.)
Preparatory study and review time for this class are 2 hours each. Students are expected to review the slide after each class to prepare for quizzes.
テキスト（教科書）Textbooks
No textbook. Instead, readings will be distributed to students in advance.
参考書References
Sharpe and Alexander, Investments, Prentice Hall.
Bodie, Kane, and Marcus, Investments, McGrow Hill.
Bodie, Kane, and Marcus, Essentials of Investments, McGrow Hill.
Elton, Gruber, Brown, and Goetzmann, Modern Portfolio Theory and Investment Analysis, Wiley.
成績評価の方法と基準Grading criteria
Participation in class discussions (20%), quizzes (40%), and the final exam (40%).
学生の意見等からの気づきChanges following student comments
NA (New lecturer from this year)
学生が準備すべき機器他Equipment student needs to prepare
None.
その他の重要事項Others
Introduction to Finance is a prerequisite. Introduction to Statistics is not a prerequisite but a course the instructor strongly recommends students take before or concurrently with Investment A.