Universität Wien

040109 KU Asset Pricing 1 (MA) (2026W)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Prüfungsimmanente Lehrveranstaltung

Zusammenfassung

1 Gehrig , Moodle
Mo 19.10. 08:00-09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
2 Schräder , Moodle
Mi 21.10. 09:45-11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock

An/Abmeldung

Hinweis: Ihr Anmeldezeitpunkt innerhalb der Frist hat keine Auswirkungen auf die Platzvergabe (kein "first come, first served").
An/Abmeldeinformationen sind bei der jeweiligen Gruppe verfügbar.

Gruppen

Gruppe 1

max. 50 Teilnehmer*innen
Sprache: Englisch
Lernplattform: Moodle

Lehrende

Termine (iCal) - nächster Termin ist mit N markiert

Attendance of the first session at Oct. 5th is mandatory.
The final will take place in the final session at January 25th.

  • Montag 05.10. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 12.10. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 09.11. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 16.11. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 23.11. 08:00 - 09:30 Hörsaal 9 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 30.11. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 07.12. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 14.12. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 11.01. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 18.01. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Montag 25.01. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock

Ziele, Inhalte und Methode der Lehrveranstaltung

The course Asset Pricing I is the first part of a sequence on asset pricing. Asset Pricing I analyses the determinants of asset prices in a complete market setting under symmetric information. Asset Pricing II extends the analysis to the empirically more relevant incomplete market setting with asymmetric information and liquidity risk.

Asset Pricing I provides a unified framework of classical asset pricing theories, according to which individual securities are priced in general market equilibrium taking into account all feedback effects (from other securities). Hence, it provides the foundations of the concept of the market price of risk as well as an understanding of the limits of the equilibrium concept as a basis of understanding financial crises, developed in more detail in Asset Pricing II.

The role of informational asymmetries on market participation, liquidity and, hence, asset prices will be the topic of the advanced course Asset Prices II.

While the course is mainly theoretical, all its motivation as well as the validation of the theories developed in this course is empirical and data-driven.

Art der Leistungskontrolle und erlaubte Hilfsmittel

Participation is OBLIGATORY.

For a positive assessment at least 50 points have to be acquired, out of 100 achievable points.

Written (final, homework, in-class quizzes) and oral (presentations, active participation)

The final will carry 35 points, homework and exercises will carry 35 points, and class participation and quizzes will carry the remaining 30 points.

Mindestanforderungen und Beurteilungsmaßstab

In order to pass the course at least 20 points need to be achieved in the final, as well as in the exercises and quizzes together. Moreover, overall 50% of the total score is required.

Literatur

Basic Reading:
• Cochrane, J.: Asset Pricing, Princeton University Press, 2nd revised edition, 2005.
• Hens, T. and M.O. Rieger: Financial Economics, Springer, 2010.

More literature will be made available on Moodle.

Gruppe 2

max. 50 Teilnehmer*innen
Sprache: Englisch
Lernplattform: Moodle

Lehrende

Termine (iCal) - nächster Termin ist mit N markiert

  • Mittwoch 07.10. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 14.10. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 28.10. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 04.11. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 11.11. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 18.11. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 25.11. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 02.12. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 09.12. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 16.12. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 13.01. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 20.01. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Mittwoch 27.01. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock

Ziele, Inhalte und Methode der Lehrveranstaltung

The course Asset Pricing I is the first part of a sequence on asset pricing. Asset Pricing I analyses the determinants of asset prices in a complete market setting under symmetric information. Asset Pricing II extends the analysis to the empirically more relevant incomplete market setting with asymmetric information and liquidity risk.

Accordingly, this course lays the foundations for a deeper understanding of the determinants of asset prices. It discusses the role of cash-flow expectations and various notions of risk on the prices of traded securities.

While the course is mainly theoretical, all its motivation as well as the validation of the theories developed in this course is empirical and data-driven.

Art der Leistungskontrolle und erlaubte Hilfsmittel

The final will carry 35 points.

The remaining points are allocated as follows:
15 Class Participation and Problem Set Presentations
25 Quizzes
25 Midterm

Mindestanforderungen und Beurteilungsmaßstab

Prior participation of the preparatory course Basics of Finance is highly recommended.

For passing the course at least 50 points are required.

Literatur

Available on Moodle

Information

Prüfungsstoff

Material presented in class as well as mandatory reading, exercises and student presentations.

Zuordnung im Vorlesungsverzeichnis

Letzte Änderung: Fr 02.10.2026 12:46