 |  |  |  |  |
| | |
|||||||||||||
| ECON0251-1 | Investment Analysis and Portofiolio Management 
[ english version ]
| ||||||||||||||
| |||||||||||||||
| Durée : | 30h Th | ||||||||||||||
| |||||||||||||||
| Crédits/ECTS : |
| ||||||||||||||
| |||||||||||||||
| Titulaire(s) : | Pierre‑Armand Michel | ||||||||||||||
| |||||||||||||||
| |||||||||||||||
| Aperçu général : | This course offers an intensive and in-depth overview of the main principles underlying Investment Analysis and Portfolio Management: Portfolio Theory, Capital Allocation between the Risky Assets and the Risk-Free Asset, Optimal Risky Portfolios, Equilibrium in Capital Markets, The CAPM, Single-Index and Multifactor Models, Arbitrage Pricing Theory (APT), Market Efficiency, Event Studies, Empirical Evidence on Security Returns, The Anomalies Literature, Fixed-Income Securities, Equity Valuation Models, Option Valuation, Active Portfolio Management : Portfolio Performance Evaluation, International Diversification, The Process of Portfolio Management, Risk Management and Hedging, The Theory of Active Portfolio Management. | ||||||||||||||
| |||||||||||||||
| Objectif du cours : | Our primary goal is to present material of practical value. There is no contradiction in the field of investments between the pursuit of truth and the pursuit of money. Quite the opposite. The capital asset pricing model, the arbitrage pricing model, the efficient markets hypothesis, the option-pricing model, and the other centerpieces of modern financial research are as much intellectually satisfying subjects of scientific inquiry as they are of immense practical importance for the sophisticated investor. In our effort to link theory to practice, we have attempted to make our approach consistent with that of the Institute of Chartered Financial Analysts (ICFA), a subsidiary of the Association of Investment Management and Research (AIMR). | ||||||||||||||
| |||||||||||||||
| Pré-requis : | Connaissance des principaux outils de l'analyse statistique et des concepts élémentaires de l'économétrie. Cours prérequis : Analyse des états financiers (45h ou 30h) et Marchés Financiers (30h). | ||||||||||||||
| |||||||||||||||
| Organisation : | A discussion of the theoretical underpinnings of "Investment Analysis and Portfolio Management" will be combined with practical applications in the form of cases and exercises. Niveau: 2ème lic. sc. gestion (option) (30h) - 2ème ép. grade d'ingénieur de gestion (option) (30h) - 2ème lic. sc. économiques (option) (30h) - DES en gestion industrielle (option) (30h). | ||||||||||||||
| |||||||||||||||
| Notes de cours : | Ouvrage suivi : BODIE Z., A. KANE et A. MARCUS, Investments, Irwin/Mc Graw-Hill, New York, 5th ed., 2002. Référence conseillée : ELTON E. et M. GRUBER, Modern Portfolio Theory and Investment Analysis, John Wiley and Sons, Inc., New York, 6th ed., 2002. | ||||||||||||||
| |||||||||||||||
| Evaluation : | Évaluation : Examen écrit. Session : Janvier. | ||||||||||||||
| |||||||||||||||
| Contacts : | Enseignant : P.A.MICHEL, Bât. B31, Bureau II/53 Tél. : 04/366.27.20 et 31.97 e-mail : pam.michel@ulg.ac.be Assistante : B. BODARWE, Bât. B31, Bureau II/50 Tél. : 04/366.31.97 e-mail : beatrice.bodarwe@ulg.ac.be | ||||||||||||||
| |||||||||||||||
| Remarques : | Durée et période : 25h (cours ex cathedra) + 5h (séances d'exercices) au 1er semestre. | ||||||||||||||
| |||||||||||||||
ULg : Administration de l'Enseignement et des Etudiants - Affaires Académiques
Responsable de l'information : Monique Marcourt, direction A.E.E.
Date de validité des données : 8/04/2005
Réalisation SEGI