Universität Wien

040176 KU Asset Pricing 1 (MA) (2023S)

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

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 50 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

Attendance of the first meeting is obligatory. The final takes place at May 12th.

  • Wednesday 01.03. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 03.03. 08:00 - 09:30 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Wednesday 15.03. 08:00 - 09:30 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 17.04. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 19.04. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 21.04. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Monday 24.04. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 26.04. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 28.04. 08:00 - 09:30 Hörsaal 14 Oskar-Morgenstern-Platz 1 2.Stock
  • Wednesday 03.05. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 05.05. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Monday 08.05. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 10.05. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 12.05. 08:00 - 09:30 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
    Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 19.05. 09:45 - 13:00 Hörsaal 3 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 26.05. 08:00 - 09:30 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß

Information

Aims, contents and method of the course

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.

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.

Assessment and permitted materials

Written (final, homework, quizzes) and oral (presentations, active participation). In case of need online participation can only be assessed, when the camera is activated on Zoom.

The final will carry 45 points.

Homework will carry up to 25 points in total provided the results can be presented in a coherent way.

Active participation will carry another 30 points in total.

Minimum requirements and assessment criteria

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

In order to pass the course at least 50 points are required as well as a minimum of 20 points in the final exam.

Examination topics

Presentations of the lecturer including presentation slides, student presentations, reading list

Reading list

Textbooks:

• Cochrane, J.: Asset Pricing, Princeton University Press, 2nd revised edition, 2009.
• Hens, T. and M.O. Rieger: Financial Economics, Springer, 2010.
• Skiadas, C.: Asset Pricing Theory, Oxford University Press, 2009.

Further literature will be made available on Moodle.

Association in the course directory

Last modified: Mo 22.05.2023 12:46