AØKK08140U Seminar: Financial Market Microstructure (F)

Volume 2015/2016
Education

MSc of Economics
The seminar is primary for students at the MSc of Economics

Content

Deeper investigation of the topics raised in two masters courses, Financial Markets and International Finance, depending on participants’ interests. These topics may also range into consequences of financial market imperfections which were not covered by the two courses.

The following list indicates some suggested topic areas – paper proposals are not limited to these suggestions.

 

1. Effects of banning short sales.

2. Transactions tax, theoretical effect.

3. Fragmentation of trade over multiple venues: consequences and regulation.

4. Models of over-the-counter trading.

5. Possible breakdown of trade under too much adverse selection.

6. Algorithmic trade, high frequency trade, theories, regulation.

7. Hedge funds, arbitrage funds, in theory and practice.

8. Stabilizing and destabilizing speculation.

9. Manipulation of asset prices.

10. Asset price bubbles and herding behavior.

11. Liquidity premium in theory and practice.

Learning Outcome

Advanced and current topics in financial market microstructure: for a preliminary idea, see the course descriptions for the two lecture course on Financial Markets and International Finance.

For participants who have not already followed one the lecture courses in the area, it is necessary to study one of the course textbooks as preparation for this seminar.

The qualifications is BA and all students at the master can participate, but it is expected that students have a prior course in financial markets or international finance, or that a relevant textbook is consumed.
The main format is paper writing by one or two students. This will be supervised by the teachers and peers. At the first meeting the seminar topics will be discussed. By the end of September, each participant must have a clear topic, presented in a commitment paper: we will meet to discuss those. Early November we meet to discuss the main findings of each paper.

Preparation meeting: Monday, August 31 at 13:15-15:00.

Deadline for one page of commitment paper: Monday, September 28.

Discussion meeting: Monday, October 5 at 13:15-15:00.

Deadline for 3 slides on core analysis: Monday, November 2.

Analytical meeting: Monday, November 9 at 12:15-15:00.

Deadline for final paper: Friday, January 5, 2016.

Paper presentation workshop: 14-15 January 2015, 10:00-16:00.



More information about seminars at
https:/​/​intranet.ku.dk/​economics_ma/​study_programme/​seminars/​Pages/​default.aspx
  • Category
  • Hours
  • Exam
  • 0,6
  • Project work
  • 186
  • Seminar
  • 20
  • Total
  • 206,6
Credit
7,5 ECTS
Type of assessment
Written assignment
Oral examination, 45 min under invigilation
A written seminar paper and a 15 minuts oral presentation for the others participans at the semina and 30 min of discussion.
Exam registration requirements

Attendance on the seminar. The mandatory commitment paper and seminar paper have been handed in at deadline.

Aid

All aids are allowed for writing the final seminar paper.

To the presentation: Prepared slides, a copy of own paper, and access to the quoted literature.

 

Marking scale
7-point grading scale
Censorship form
External censorship
up to 20 % censorship at the seminarpaper
Exam period

Deadline for one page of commitment paper: Monday, September 28.

Deadline for 3 slides on core analysis: Monday, November 2.

Deadline for final paper: Friday, January 8, 2016.

Paper presentation workshop: 14-15 January 2015, 10:00-16:00.

 

Re-exam

As ordinary.

Criteria for exam assesment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.