PGE 3A -Finance (FIN)
Contact hours
27 H
Number of spots
Open to visitors
Maxime MERLI

Pedagogical contribution of the course to the program

LEARNING GOAL 1 : Students will master state-of-the-art knowledge and tools in management fields in general, as well as in areas specific to the specialized field of management.

Students will identify a business organization’s operational and managerial challenges in a complex and evolving environment.
Students will understand state-of-the-art management concepts and tools and use them appropriately.
Students will implement appropriate methodologies to develop appropriate solutions for business issues.
LEARNING GOAL 2 : Students will develop advanced-level managerial skills.
Students will participate in a decision-making process in a critical way.


The first part of the course is dedicated to the fixed-income instruments. They are described and analyzed in an investment perspective. Bond prices and yields are presented in order to define the term structure of interest rates, essential tool to manage bond portfolios. The second part addresses the fundamental issues of asset allocation and optimal portfolio choice. This part deals with pricing and equilibrium models like the CAPM. The last part is dedicated to the measures of portfolio performance.

Teaching methods


- Lectures
- E-learning

In group

- Exercises


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Learning objectives

Cognitive domain

Upon completion of this course, students should be able to
  • - (level 2) Describe the essential characteristics of Securities and funds
  • - (level 3) Solve standard problems of portfolio choice
  • - (level 5) Synthesize the main approaches to portfolio choice and valuation techniques.
  • - (level 6) Interpret the quantitative information provided by investment analysis.

Affective domain

Upon completion of this course, students should be able to
None affective domain have been associated with this course yet


Part 1: Interest rates and Bond Portfolios 1 / Bond Prices and Yields 2 / The Term Structure of Interest Rates 3 / Managing Bond Portfolios Part 2: CAPM and Portfolio Management 1 / Risk, Return, and the Historical Record 2 / Capital Allocation to Risky Assets 3 / Chapter Nine. The Capital Asset Pricing Model 4 / Empirical tests of the CAPM 5 / Portfolio Performance Evaluation

No prerequisite has been provided

Knowledge in / Key concepts to master

Microeconomics, statistics, elementary probability theory
Basic microeconomics: preferences, utility functions, interest rates Statistics: moments of random variables (expectation, variance, covariances, corrélations)

Teaching material

Mandatory tools for the course

- Reference manuals

Documents in all formats

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Moodle platform

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Additional electronic platforms

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Recommended reading

Investments, Global Edition, 10E, Bodie, Kane, Markus, 2014

No reading material has been provided.

EM Research: Be sure to mobilize at least one resource

Textbooks, case studies, translated material, etc. can be entered
No reading material has been provided.


List of assessment methods

Final evaluationExam week
Written (120 Min.) / Individual / English / Weight : 100 %
This evaluation is used to measure LO1.1, LO1.2, LO1.3
No assessment methods have been attributed to this course yet.