Universität Wien FIND

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040018 KU Behavioural Finance (MA) (2018S)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work



max. 50 participants
Language: English


Classes (iCal) - next class is marked with N

The course will take place in the second half of the semester. The first lecture is tentatively on 02.05.2018

Wednesday 02.05. 16:45 - 20:00 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 09.05. 16:45 - 20:00 Hörsaal 15 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 16.05. 16:45 - 20:00 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 06.06. 18:30 - 21:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Wednesday 13.06. 16:45 - 20:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 20.06. 16:45 - 20:00 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 27.06. 16:45 - 20:00 Hörsaal 10 Oskar-Morgenstern-Platz 1 2.Stock
Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock


Aims, contents and method of the course

Traditionally, Financial Economics assumes that investors and other market participants are perfectly rational. While this is a good first approximation, there is a number of systematic biases in people's behavior. The goal of this course is to discuss how these biases affect financial markets and investors' decisions. We will start with describing the most relevant deviations (such as overconfidence, loss aversion and others), and we will continue with various financial applications. We will talk about bubbles, herding, implications for corporate decisions and investors' behavior.

Topics of the courses:
1. Psychological Biases
2. Limits to Arbitrage, Market Efficiency
3. Bubbles
4. Herding
5. Aggregate stock market
6. Investor Behavior
7. Behavioral Corporate Finance

Assessment and permitted materials

The grade will be based on the midterm and the final exam. A fraction can be also allocated to the homework exercises and class participation.

Minimum requirements and assessment criteria

Examination topics

Reading list

Association in the course directory

Last modified: Mo 07.09.2020 15:28