Study Programmes 2015-2016
FINA0081-1  
Finanzmärkte
Duration :
40h Th, 15h Pr
Number of credits :
Bachelor in economics and business management5
Bachelor in business engineering5
Lecturer :
Aline Muller
Language(s) of instruction :
German language
Organisation and examination :
Teaching in the first semester, review in January
Units courses prerequisite and corequisite :
Prerequisite or corequisite units are presented within each program
Course contents :
Finanzmärkte is a course in german that introduces students to the financial markets environment in which agents, companies and organizations operate. Students investigate the nature and role of financial markets within the domestic and global environment. The course presents an overview of the financial system and its various types of financial markets, instruments and institutions.  In brief, an overview of the ideas, methods, instruments and institutions that permit human society to manage risks and foster enterprise.
Within this framework, the course is practically-based and enables students to distil and critically analyse questions and/or problems using real data.
Learning outcomes of the course :
The course content places an even emphasis on introducing and explaining the key concepts of each subject area and on developing candidates' practical knowledge and skill sets.
The main topics are:
- the key players in financial markets including issuers, investors and intermediaries ;
- the key instruments in financial markets including currencies, bonds, stocks and derivatives ;
- the interaction between cash and derivative markets ;
- the structure, role and functioning of the FX market ;
- the key features of both equity and debt products ;
- an introduction into portfolio analysis based on the key concepts of risk and return.
 
Specific skills and competences trained during this course.
At the end of this course students will have:
- understood the main theories in financial markets and been able to integrate them into the social context and the legal framework ;
- used adequately key concepts in accounting, mathematics, statistics and IT tools in financial management ;
- searched for the information needed to solve a problem in management ;
- practiced german ;
- developed team work abilities ;
- developed their sense of synthesis ;
 - developed their citical sense in assessing political, economioc and business information at national and international levels ;
- strengthened their skills for oral communication ;
- and strengthened their skills for written communication.
Prerequisite knowledge and skills :
Planned learning activities and teaching methods :
The course is lecture-style with discussions of financial markets related topics through case-studies and selected readings.
More specifically, to achieve the objectives listed above students are invited to participate in various learning activities. These activities comprise the following:
- attendance at, and notetaking during, scheduled lectures ;
- reading of, and notetaking from, prescribed text and distributed references ; ¿
- completion of distributed tutorial/feedback questions ;
- and attendance at, and participation during, tutorial sessions. 
 
 
In addition to required textbook chapter readings and some additional required readings (via course webpage), I highly encourage all students to read the Finance and international Business sections of their newspapers over the semester. 
Mode of delivery (face-to-face ; distance-learning) :
The course is based on face-to-face lecturse, discussion style interactions and tutorials. Some topics will be prepared through distance learning
Recommended or required readings :
Grundlagen der Finanzwirtschaft, Jonathan Berk & Peter DeMarzo, 2nd edition, Pearson.
Assessment methods and criteria :
The final grade will be determined by
 
Written exam 
50%
 
Mini Case-studies, Problem sets and Topic presentations (Tutorials) 
30%
 
Participation Attending class and actively discussing material in class
20%
 
  
Remark : Students are invited to keep problem solutions, case write-ups and exam writing short and to the point. Concise writing is a crucial skill for their future career in finance.
Work placement(s) :
Organizational remarks :
Finance is definitively an analytic field. As a consequence, this course will require students to understand models, do calculations and numerical analysis. Problem sets are to be handed in at the time and date as announced in class. The purpose of problem-based assignments is to understand issues, not to replicate answers. There are no "right answers" to the cases, only good arguments and weak arguments supporting the decision to take specific actions.
 
Students are expected to do their own work (or work within their group). At no time is it tolerated to use materials from former academic years or other sources. No plagiarism of any kind will be tolerated.
 
The final written exam is a closed book exam. Students need only bring a calculator and writing utensils to class. Absences from exams are allowed only for validated medical reasons. Unexcused absences from exams will lead to a zero score in the calculation of the final grade.
Contacts :
Aline Muller, Ph.D. | Professor of Finance
HEC - Management School of the University of Liège (Belgium) 
Rue Saint Gilles 35, Bldg. N2, B-4000 Liège Belgium
tel : 0032 4 232 7435 / email : aline.muller@ulg.ac.be / website: www.finance.hec.ulg.ac.be
 
 
Stephanie Heck
HEC - Management School of the University of Liège (Belgium) 
Rue Louvrex, Bldg. N1, B-4000 Liège Belgium
email : stephanie.heck@ulg.ac.be / website: www.finance.hec.ulg.ac.be
Items online :
online notes
The core materials for the course consist of the required textbook readings and additional readings posted on the course web page. Lecture notes will be available on the course web page. Other items such as problem sets and case questions will also be available on the course web page. Some additional readings on materials related to the course over the term may be provided throughout the course via the course web page.