AØKA08212U Financial Markets (F)
Elective at MSc in economics
The course is part of the Financial line symbolized by
"F"
MSc programme in mathematics-economics
This course examines the financial markets from a Micro perspective. When traders operate in the financial market, how do they arrive at the transactions prices? How is the traders’ dispersed information incorporated into these prices? What determines the liquidity and depth of an asset market? What is the optimal behaviour for traders in financial markets? Why do bubbles and crashes arise? Do the institutional details of the exchange influence this price formation process? If so, how should exchanges and regulators ideally design the rules of trading? Is there a role for market making, should the market be fully transparent, should insider trading be permitted, should transactions be taxed, and is high-frequent trading good or bad for the market?
Financial economics addresses these and related questions in the field of financial markets’ microstructure. This course seeks to give a broad introduction to the field through a textbook covering theory, evidence and policy. It also provides deeper insight on topics of current interest on the basis of selected current research papers. The lectures will often draw on recent media clippings of relevance for the topic.
A strong analytical framework now provides a good understanding
of Financial Market issues. Nevertheless, research in this area
still leaves many questions open for further investigations. This
course partly gives participants a review the facts on financial
markets, partly presents the key theoretical models, and partly
addresses how the models are applied to the important issues.
The final exam tests the students' specific and general
knowledge of the aforementioned aspects of Financial Market theory,
emphasizing three abilities:
- The ability to readily explain and discuss key theoretical concepts and results from academic articles, as well as their interpretation,
- The ability to carefully derive and analyze results within an advanced, mathematically specified theoretical model,
- The ability to apply the most relevant theoretical apparatus to analyze a given, new case-based problem.
In order to achieve the maximal grade for the course, the student must excel in all three areas.
Syllabus:
Thierry Foucault, Marco Pagano and Ailsa Röell: “Market Liquidity:
Theory Evidence and Policy,” Oxford University Press, 2013. 439
pages.
Various papers that will be announced later.
Mostly lectures covering the syllabus with a view towards accomplishing the course goals. Supplemented by problem sets.
Time and room:
For time and classroom please press the link under "Se skema"(See schedule) at the right side of this page (15E means Autumn 2015, 16F means Spring 2016).
You can find the similar information partly in English at
https://skema.ku.dk/ku1516/uk/module.htm
-Select Department: “2200-Økonomisk Institut” (and wait for respond)
-Select Module:: “2200-F16;Financial Markets”
-Select Period: “Forår/Spring – Weeks 4-29”
-Press: “ View Timetable”
- Category
- Hours
- Exam
- 48
- Lectures
- 42
- Preparation
- 116
- Total
- 206
for enrolled students. More information about registration, schedule, rules, courses etc. can be found at the student intranet (KUnet) for courses (English) and student intranet (KUnet) for courses (Danish).
Registration and information for prospective foreign speaking students, exchange students, Open University etc. please find more information at Study Economics.
For dansktalende enkelfagsstuderende kan tilmelding ske via siderne Åbent Universitet og Merit.
- Credit
- 7,5 ECTS
- Type of assessment
- Written assignment, 48 hoursAn individual 48 hours take-home assignment.
- Aid
- All aids allowed
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
100 % censurship
- Exam period
The exam takes place June 28, 2016 at 10am to June 30, 2016 at 10am.
For enrolled students more information about examination, exam/re-sit, rules etc. is available at the student intranet for Examination (English) and student intranet for Examination (KA-Danish).
- Re-exam
The exam takes place August 24, 2016 at 10am to August 26, 2016 at 10am.
If only a few students have registered for the re-exam, the exam might change to an oral exam including the date for the exam, which will be informed by the Examination Office mid-August.
Criteria for exam assesment
The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.
Course information
- Language
- English
- Course code
- AØKA08212U
- Credit
- 7,5 ECTS
- Level
- Full Degree Master
- Duration
- 1 semester
- Placement
- Spring
- Schedule
- Spring semester is week 6-35
Period of
-teaching: Week 6-21
-exam: Week 21-26
-re-sit: Week 31-36 - Course capacity
- No limits
- Continuing and further education
- Price
320 DKK per ECTS
- Study board
- Department of Economics, Study Council
Contracting department
- Department of Economics
Course responsibles
- ptk532 ptk532 (14-6c6775726774307477666b6967744267657170306d7730666d)