UNIVERSITY OF KENT
Confirmation that this version of the module specification has been approved by the School
Learning and Teaching Committee:
21 November 2014
SECTION 1: MODULE SPECIFICATION
1.
Title of the module
MA981 Portfolio Theory and Investment Analysis
2.
School or partner institution which will be responsible for management of the module
School of Mathematics, Statistics and Actuarial Science
3.
Start date of the module
September 2015
4.
The number of students expected to take the module
85
5.
Modules to be withdrawn on the introduction of this proposed module and consultation with other
relevant Schools and Faculties regarding the withdrawal
MA930 Investment Analysis and Portfolio Management
6.
The level of the module (e.g. Certificate [C], Intermediate [I], Honours [H] or Postgraduate [M]) M
7.
The number of credits and the ECTS value which the module represents
15 (ECTS 7.5)
8.
Which term(s) the module is to be taught in (or other teaching pattern)
Autumn Term
9.
Prerequisite and co-requisite modules
MA934 (Probability and Statistics for Finance) and MA935 (Mathematics of Finance) or equivalent
are co-requisites.
10. The programmes of study to which the module contributes
The module is compulsory for the MSc and International MSc in Finance, Investment and Risk and
MSc in Financial Engineering & Risk Management.
11. The intended subject specific learning outcomes
On successful completion of the module, students will be able to:
1. show a systematic knowledge, understanding and critical awareness of the theory in the
2.
areas of the syllabus relating to equity, bonds, derivatives, portfolio, risk and return,
asset pricing models, efficient market hypothesis and behavioural finance and security
evaluation;
show a comprehensive understanding of the complex techniques applicable to solve
problems in the areas of the syllabus relating to equity, bonds, derivatives, portfolio, risk
and return, asset pricing models, efficient market hypothesis and behavioural finance
and security evaluation;
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UNIVERSITY OF KENT
3.
4.
5.
appreciate recent developments and methodologies in investment analysis and the links
between the theory and its practical application and to critically evaluate such
methodologies;
demonstrate a comprehensive understanding of the complex current issues relevant to
the market for investment products;
show an ability to understand, select and apply appropriate methods in investment
evaluation.
12. The intended generic learning outcomes
On successful completion of the Module, students will have developed:
1.
2.
3.
4.
skills in solving complex problems arising in the investment process;
skills in written communication to both technical and non-technical audiences;
skills in the use of relevant information technology;
skills in managing their own time and working independently.
13. A synopsis of the curriculum
Introduction to the investment industry; equity, bonds, derivatives, Portfolio theory; risk and return
asset pricing models, efficient market hypothesis and behavioural finance, security valuation
principles.
14. Indicative Reading List
Students should keep up to date with financial markets news and developments by reading the
financial newspapers and periodicals and relevant published reports and periodicals
recommended during the module.
F.K. Reilly and K.C. Brown, Analysis of Investments & Management of Portfolios, 10th edition,
Cengage Learning
Z. Bodie, A. Kane and A. Marcus, Investments and Portfolio Management, McGraw-Hill
A. Damodaran, Investment valuation: Tools and techniques for determining the value of any
asset 2012, Wiley
M. Choudhry, Introduction to Bond Markets, Wiley
15. Learning and Teaching Methods, including the nature and number of contact hours and the total
study hours which will be expected of students, and how these relate to achievement of the intended
module learning outcomes
The module consists of:
36 lectures and example classes
No. of contact hours:
36
Number of independent learning hours:114
Total study hours: 150
The lectures cover the theory and contain worked examples and reference to empirical work and
real life case studies to emphasise the practical application of the theory and enable
achievement of learning outcomes in section 11. In example classes, students will practice the
application of the theory and work on case studies. Students will also be introduced to the use of
professional market data platforms. Example classes will enable achievement of the learning
outcomes in sections 11 and 12.
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16. Assessment methods and how these relate to testing achievement of the intended module learning
outcomes
Assessment: The module is assessed by examination (80%) and by coursework assessment
(20%).
Coursework Assessment: This will consist of two regular open-book written assessments which
are completed by students outside contact hours. These will test all the learning outcomes as
outlined in Sections 11 and 12 and these will also test the higher level techniques of analysis and
critical evaluation listed under the syllabus.
Examination: One 2-hour written examination that will consist of questions and numerical
problems requiring short and long answers to test the learning outcomes 11.1-11.5 as outlined in
Section 11.
17. Implications for learning resources, including staff, library, IT and space
This module replaces one half of the 30-credit module MA930. No additional resources are needed.
18. The School recognises and has embedded the expectations of current disability equality legislation,
and supports students with a declared disability or special educational need in its teaching. Within
this module we will make reasonable adjustments wherever necessary, including additional or
substitute materials, teaching modes or assessment methods for students who have declared and
discussed their learning support needs. Arrangements for students with declared disabilities will be
made on an individual basis, in consultation with the University’s disability/dyslexia support service,
and specialist support will be provided where needed.
19. Campus(es) where module will be delivered: Canterbury
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