Overview

PART A - INVESTMENT

Investors, investment objectives and mechanics of investment.

Investment risk and return.

Equities: Characteristics, valuation, world equity markets.

Fixed Income: Characteristics, world bond markets (sovereign and corporate, valuation, understanding credit rating and yield).

Future, option and foreign exchange markets.

Investment management: introduction to Efficient Market Hypothesis, fundamental and technical analysis and investment management strategies.

PART B - INVESTMENT BANKING

Introduction in investment banking.

Discounted case flow models.

Valuations for mergers and acquisitions.

Valuations for leveraged buyouts.

Investment funds.

Recent studies.

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives. -good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills. -excellent -A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills. -another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Compare and contrast traditional commercial banking and modern investment banking in terms of their business models.

• Critically analyse the mechanics of investment in financial markets.

• Demonstrate the use of valuation models to make investment decisions in mergers, acquisitions and leverage buyouts.

• Evaluate the typical investment objectives of key classes of investors, including the risk-return relationship.

• Implement appropriate valuation techniques to equity and fixed income instruments.