ECTS: 
3
Lecturer: 
Arkadiusz Sieroń
Type: 
Optional
Level: 
Elementary
Lecture
Number of hours: 
2h X 6 weeks = 12 hours (1 semester)
Classes
Number of hours: 
2h X 4 weeks = 8 hours (1 semester)
Biography of the Professor
Assistant Professor in the Institute of Economic Science, an author of over 25 scholarly publications, including one book. His research focuses primarily on the monetary economics, the business cycle theory, the Cantillon effect, theory of banking, theory of income inequality, heterodox economics, financial markets, and the precious metal markets. He is especially interested in analyzing the effects of monetary inflation. He is also the board member at the Polish Mises Institute think tank and a Laureate of the 6th International Vernon Smith Prize. Privately he enjoys taking B&W photographs, playing chess, hiking through the mountains, and listening to rock music.
Requirements for passing a course
Final exam (written) – 40% Problem set to solve 40% Class participation 20% To pass a student needs 50%, for B – 70%, for A – 90%.
Problem issues
Investment Analysis
Risk-return trade-offs
Diversification
The term structure of interest rates
Arbitrage
CAPM Model
Modern Portfolio Theory
Individual Portfolio Management
Ethics in Capital Market
Asset Valuation
Fundamental and technical analyses
Active versus passive investing
Efficient Market Hypothesis
Black swans, antifragility
Stock and bond markets
Derivatives
Stock exchanges and their roles
Asset bubbles
Behavioral finance
Sources
Bodie Z., Kane A., Marcus A., Investments, 10th edition, McGraw-Hill Education, 2014.
Frank K. Reilly, Keith C. Brown, Investment Analysis and Portfolio Management, 11th edition, Sandford Leeds: Books, 2018.
Burton Malkiel, A Random Walk Down Wall Street, W. W. Norton & Company, 1973.
Aswath Damodaran, Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, 3rd edition, John Wiley & Sons, 2012.
Nassim Nicholas Taleb: Black Swan: The Impact of Highly Improbable, Random House, 2007.
Nassim Nicholas Taleb: Antifragile, Random House, 2012.