XFIN-658 Capital Markets and Valuations
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The objective of this course is to introduce students to the capital markets and their functions. This course provides an overview and introduction to the fundamentals of interest rate markets. Particular emphasis is placed upon the debt and equity markets in the United States, their instruments, and participants. Students will study and gain an understanding of the concepts of valuation, efficient markets, fundamental and technical analysis, and introduction to derivative securities. Also students will review the principles of risk management.
Upon completion of this course, the successful student should able to:
- Identify money market and capital market securities, and understand the important features of both.
- Distinguish between primary and secondary financial markets, and their functions.
- Understand how debt and equity markets are organized, and how they function.
- Understand the behavior of market interest rates, yield curves, optionality factor in the markets.
- Understand bond valuation and the relationship between interest rates and bond prices.
- Calculate bond yield, understand and calculate duration and convexity; use these concepts for investment decision-making.
- Understand the basics of stock valuation, using Discounted Cash Flow (DCF) technique, and assess whether a stock is fairly priced, underpriced or overpriced.
- Understand and use the CapitalAsset Pricing Model (CAPM) to calculate the required rate of return for a security.
- Understand basic risk management tools.