The course content addresses the following topics:
The course is divided into two sections namely:
Corporate Finance
- Introduction to finance.
- Financial ratio analysis.
- The time value of money discounting, the valuation of fixed income securities and shares.
- Assets and liability management.
- Capital budgeting: cash flow forecasts, alternative methods of investment appraisal, project interaction, capital rationing, risk and return, project analysis, the evaluation of forecasts and performance.
- Corporate financing decision: efficient markets, the dividend decision, capital structure, the cost of capital leasing.
Investment
- Introduction to investment.
- Calculating investment returns, the relationship between risk and reward, investment market dynamics.
- The "Money Market": T-bills, bankers acceptances, deposits, certificates of deposit, the role of the central bank.
- Bond Market: market overflow, gilts, corporate bonds, junk bonds.
- Equity: market overview, dividend discount model, fundamental analysis, technical analysis.
- Derivatives: interest rate futures, equity futures, arbitrage with the spot market, interest rate options, equity options, arbitrage between spot, futures and options, option valuation, option algebra, calculating option exposure, hedging.
- Introduction to portfolio theories: efficient markets hypotheses, capital asset pricing model, arbitrage pricing theory.
- Investment overview: the measurement of investment performance.
- The role of investment markets in the economy.
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