- •2. Intertemporal choice problem as foundation of the modern theory of finance.
- •3. Basic economic theory of risk. Expected utility function, risk premium and risk aversion measures.
- •4. Technology, profit maximization and theory of firm and industry supply
- •5. Production costs in short run vs long run and cost minimization problem.
- •Variable Costs
- •Isocost Lines
- •6. Types of industrial markets. The model of perfect competition.
- •7. The theory of monopoly. State regulation of monopoly markets.
- •8. (И.К.)Models of oligopoly and game theory applications
- •9. 9. Institutional foundations of economic systems. The economic theory of property rights.
- •10. Transaction costs: the origin, nature, classification, measurement problems.
- •11. Theory of information, properties, info asymmetry and methods of overcoming it
- •Information asymmetry
- •12. Gdp as an indicator of economic results of the macroeconomic system.
- •Income approach
- •13. Aggregate demand and aggregate supply. The ad-as model.
- •14. Consumption, savings and investment. “Keynesian Cross”.
- •15. Money market. The demand for money and supply, factors that determine them. Equilibrium in the money market.
- •16.Joint balance of real and monetary sectors of the economy (model is-lm).
- •17. Cycles of economic dynamics. Sources of cyclical fluctuations in economic conditions.
- •18. Inflation, its types and methods of measurement. Factors and consequences of inflation. Anti-inflationary policies.
- •19. Disequilibrium in the labor market. Unemployment and its types and methods of measurement.
- •20.Globalization and the polarization in the modern world economy.
- •21.General economic equilibrium in an open economy (model Mandell - Fleming).
- •Is components
- •22.(И.К.)Efficient Market Hypothesis (emh): Concept, Forms, Arguments for and against.
- •23. Economic Data and Econometric Analysis. Four types of Economic Data. Role of Econometrics. Main Application of Econometrics.
- •24. Financial Econometrics, it’s object. Type of equations in mathematical modeling: behavioral equations and identities.
- •25,26,27,29 Simple regression analysis. The Simple Linear Model. Least Squares Regression. Interpretation of a Regression Equation.
- •28.Ordinary Least Squares (ols). The Gauss – Markov Theorem.
- •30.Heteroscedasticity. Possible Causes of Heteroscedasticity. The Goldfeld–Quandt Test.
- •31.Autocorrelation. Possible Causes of Autocorrelation. The Durbin–Watson Test.
- •32.Multiple Regression Analysis. Derivation of the Multiple Regression Coefficients.
- •33.Properties of the Multiple Regression Coefficients: unbiasedness, efficiency, precision, consistency.
- •34.Multiple Regression Analysis. Problem of Multicollinearity.
- •35. Purchasing Power Parity Theory: Concept, Forms, Application
- •36. Fisher Effect Parity Theory: Concept, Application
- •37 International Fisher Effect Parity Theory: Concept, Application
- •38. Interest Rate Parity Theory: Concept, Application
- •39. The composition of the global financial market: instruments, participants, sources of information.
- •41. Types of banks and their role in the international financial market.
- •42. The global equities market: size, indicators, principles of organization.
- •43. The global debt securities market: composition, principles of organization.
- •44. The international debt securities: types and organization.
- •45. The government bond markets: size, composition, significance.
- •46. Mortgage-backed securities: mechanism of issuance, the role in the international financial crisis of 2007-2009.
- •47. Exchange-traded derivatives: types, functions, mechanism of trading.
- •48.Otc derivatives. Swaps.
- •49. Types of institutional investors and their role in the global financial markets.
- •50. The functions of the international financial organizations (imf, World Bank, bis).
- •International trade financing
- •52. International banking: the structure and operational function, the services offered, and measures to improve the efficiency and effectiveness of the international banking organization.
- •53. The major issues in International banking: international money laundering, international banking crisis, regulation of international banking, and offshore banking markets.
- •54. Acquisitions and Mergers in Financial Services Management.
- •55.Measuring and evaluating the performance of banks: financial ratio analysis, profitability analysis.
- •57. Bank Financial Management:
- •58.(И.Р.)Requirements for an effective audit and evaluation of evidence (Не полностью описал)
- •59. The audit process and audit report
- •60. Generally Accepted Auditing Standards and Code of Professional Conduct
- •Accounting principles;
- •Confidential client info not disclose without specific consent.
- •61. Cost concepts, classification, and allocation.
- •62. Job order costing system & cost flow
- •63. Process costing and equivalent production
- •65.(И.Р.)Cost behavior and cvp analysis
- •66. Accounting Cycle, Generally Accepted Accounting Principles, and Financial Statements
- •Accounting Cycle – Steps During the Accounting Period
- •Accounting Cycle: Steps at the end of the accounting period
- •67. Merchandising operations & inventories
- •Inventory Costing Methods
- •Perpetual fifo
- •Perpetual lifo
- •68. Internal control, cash and receivables
- •69. Current & long term Liab.
- •70.Long term Assets.
- •71. Contributed Capital & corporate statements.
- •72.(И.Р.)Cash flow statement
- •73. Accounting Rate of Return Method as an Investment Rule. Application and possible Problems
- •74. Payback Method as an Investment Rule. Application and possible Problems.
- •75. Internal Rate of Return Method as an Investment Rule. Application and possible Problems.
- •76. Profitability Index Method as an Investment Rule. Application and possible Problems.
- •1) The method requires an estimate of the cost of capital in order to calculate the profitability index
- •2) The method may not give the correct decision when used to compare mutually exclusive projects.
- •77. Net Present Value Method as an Investment Rule. Application and possible Problems.
- •78. Capital Structure Concept.
- •79. Dividend Policy
- •80. Arbitrage Pricing Theory (apt)
- •81. Capital Asset Pricing Model (capm)
- •82. Fama and French Three Factor Model of Assets Pricing
- •83. Duration concept, application, concept of convexity, and how convexity affects macalay’s duration
- •83. Duration concept, application, concept of convexity, and how convexity affects macalay’s duration
- •84. Valuation based on Price Multiples: p/e, p/bv, p/s.
- •85. (И.К.)Asset Based Valuation Model, Residual Income Valuation Model Asset-based valuation
- •86.(И.Р.)Dividend Discount Model
- •87. Discounted Cash Flow (dcf) Valuation Model
- •88. Capital Structure: Differences between Companies
- •89. Capital structure: Differences between Countries.
- •90. Exporting as a foreign market mode, merits, demerits
- •91. Collaborative Arrangements: Licensing, Franchising, Management Contracts
- •92. (И.К.)Risky assets and portfolio optimization problem.
- •Investors can use either a top-down or bottom-up approach:
- •95. Credit Risk Models
- •96. International Diversification: investing in different markets.
- •97. Translation exposure
- •98. Transaction Exposure.
- •99. Operational Exposure
- •100.(И.Р.)Foreign Direct Investments: Joint Ventures, wholly owned Subsidiaries
- •101. Securitization (s): creation of abSs, participants and functions, securitization’s impact and risks, regulators’ concerns.
- •103. Classification and comparative characteristics of derivatives.
- •1.By the relationship between the underlying asset and the derivative :
- •3.By the market in which they trade:
- •1.Call and Put options
- •2.Exchange-traded or Over-the-counter (otc) options
- •105. Swaps: concept, types, strategies for using
- •106. Futures: concept, types, strategies for using
47. Exchange-traded derivatives: types, functions, mechanism of trading.
Exchange-traded derivatives is a type of financial derivative that is traded through an exchange, such as the Chicago Board of Trade or Chicago Mercantile Exchange.
Derivative is an agreement between counterparties to buy/sell certain asset (commodity, currency, equity, index, bond, interest rate, etc.) or to buy/sell a right to buy/sell certain asset in a certain date (or period) in future.
An asset that derives its value from another asset. For example, a call option on the stock of Coca-Cola is a derivative security that obtains value from the shares of Coca-Cola that can be purchased with the call option. Call options, put options, convertible bonds, futures contracts, and convertible preferred stock are examples of derivatives. A derivative can be either a risky or low-risk investment, depending upon the type of derivative and how it is used.
Types of derivatives: Futures, Forwards, Options, Swaps, Credit Derivatives
Futures contract is a standardized contract between two parties to buy or sell a specified asset (eg.oranges, oil, gold) of standardized quantity and quality at a specified future date at a price agreed today (the futures price). The contracts are traded on a futures exchange. Futures contracts are not "direct" securities like stocks, bonds, rights or warrants. They are still securities, however, though they are a type of derivative contract. The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position.
A futures contract gives the holder the obligation to make or take delivery under the terms of the contract, whereas an option grants the buyer the right, but not the obligation, to establish a position previously held by the seller of the option. The seller delivers the underlying asset to the buyer, or, if it is a cash-settled futures contract, then cash is transferred from the futures trader who sustained a loss to the one who made a profit. To exit the commitment prior to the settlement date, the holder of a futures position has to offset his/her position by either selling a long position or buying back (covering) a short position, effectively closing out the futures position and its contract obligations.
Forward contract is a non-standardized contract between two parties to buy or sell an asset at a specified future time at a price agreed upon today. This is in contrast to a spot contract, which is an agreement to buy or sell an asset today. The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. The price agreed upon is called the delivery price, which is equal to the forward price at the time the contract is entered into.
Options
A call option gives its owner the right, but not the obligation, to buy something at a specified price (the exercise or strike price) on or before a specified date (the maturity or expiration date).
A put option gives its owner the right, but not the obligation, to sell something at a specified price on or before a specified date.
The party that receives the right to buy/sell in the future buys the option and has a long position. The party that gives the right to buy/sell in the future writes the option and has a short position.
Unlike with forward and futures contracts, the buyer of an option is not obligated to buy or sell.
The owner of a European-style option can exercise only on the expiration date. The owner of an American-style option can exercise at any time up to and including the expiration date.
Swap is a derivative in which counterparties exchange certain benefits of one party's financial instrument for those of the other party's financial instrument. A swap is an instrument in which both sides have obligations to perform in the future. That is, if the underlying rate moves against either party, that party will have to pay up, much like a future or forward contract. This is in contrast to an option from the perspective of its holder. An option grants the right, not the obligation, to the option holder to buy a particular asset and creates an obligation on the part of the option writer to sell that asset. We can sell a right and assume an obligation but we cannot sell an obligation.