Faculty of Business Administration

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ECN300FD（経済学 / Economics 300）
Financial Economics I

Naoki KISHIMOTO

Class code etc
Faculty/Graduate school Faculty of Business Administration
Attached documents
Year 2022
Class code A4489
Previous Class code
Previous Class title
Term 春学期授業/Spring
Day/Period 月2/Mon.2
Class Type
Campus 市ヶ谷
Classroom name 各学部・研究科等の時間割等で確認
Grade 3～4
Credit(s) 2
Notes
Open Program
Open Program (Notes)
Global Open Program
Interdepartmental class taking system for Academic Achievers
Interdepartmental class taking system for Academic Achievers (Notes)
Class taught by instructors with practical experience ○
SDGs CP
Urban Design CP
Diversity CP
Learning for the Future CP
Carbon Neutral CP
Chiyoda Campus Consortium
Admission year
Category (2019～)
Category (～2018) 市場経営学科専門科目

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Outline (in English)

In this course, students review the materials taught in Introduction to Finance and learn more advanced topics about bonds and stocks than taught in Introduction to Finance. For example, students study how a bond price changes relative to a small change in market interest rates, which is measured by what is called duration. Or students study financial ratios used by many practitioners as applied to companies whose stocks are traded on exchanges. Furthermore, students study bond and stock markets in foreign countries.

In general, prices of bonds and stocks change widely as new information about the companies or institutions that have issued those bonds and stocks enters into the market. A hypothesis called efficient market hypothesis claims that information will be incorporated into the prices of bonds and stocks immediately and correctly. The efficient market hypothesis is the last topic covered in this course.

Course outline:　 In this course, students review the materials taught in Introduction to Finance and learn more advanced topics about bonds and stocks than taught in Introduction to Finance. For example, students study how a bond price changes relative to a small change in market interest rates, which is measured by what is called duration. Or students study financial ratios used by many practitioners as applied to companies whose stocks are traded on exchanges. Furthermore, students study bond and stock markets in foreign countries.

In general, prices of bonds and stocks change widely as new information about the companies or institutions that have issued those bonds and stocks enters into the market. A hypothesis called efficient market hypothesis claims that information will be incorporated into the prices of bonds and stocks immediately and correctly. The efficient market hypothesis is the last topic covered in this course.

Learning objectives: The following five objectives are set for this course.
(1) To reinforce the understanding of the knowledge about bonds learned in "Introduction to Finance" and to be able to apply it properly.
(2) To acquire the knowledge of duration and yield curve analysis.
(3) To reinforce the understanding of the stock valuation method learned in "Introduction to Finance" and to be able to apply it to more complex problems.
(4) To learn major investment strategies for stocks.
(5) To learn the efficient market hypothesis.

Learning activities outside of classroom: Self-study and review of materials provided by the instructor. Students are expected to spend about four hours on them for each class

Grading criteria/policy: If the final exam is given face-to-face, the final exam will account for 70% of the grade, and quizzes and class participation will account for 30% of the grade. On the other hand, if the final exam cannot be given face-to-face, the final exam will account for 50%, and the in-class quiz and class participation will account for 50%.

Default language used in class

日本語 / Japanese