ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Equity and Fixed Income Markets
Code BLIM504
Coordinator Mr A Ozunlu
Finance and Accounting
A.Ozunlu@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2019-20 Level 7 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 49

           49
Timetable (if known)              
Private Study 101
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When): 1  2.5 hours    100       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             

Aims

Equity:

To provide a knowledge and understanding of the nature of equity securities and equity markets and develop techniques to value equities using fundamental analysis.

Fixed Income:

To provide a knowledge and understanding of fixed income securities and their markets, yield measures, risk factors, and valuation measures and drivers.

To develop an ability to determine the yields and values of fixed-income securities.

Learning Outcomes

(LO1) Equity: A systematic understanding, knowledge and critical awareness of the nature of equity securities and current professional practice related to equity markets;

(LO2) Equity: The application and critical appraisal of fundamental analysis to the valuation of equity securities, including residuals analysis in complex scenarios;

(LO3) Equity: A conceptual understanding of the principles underlying the equity markets and equity security valuation, including hybrids at the forefront of current practice;

(LO4) Fixed Income: A systematic understanding, knowledge and critical appraisal of professional practice related to fixed income securities, including structured products and embedded options;

(LO5) Fixed Income: The application of knowledge and  understanding of applied techniques and methods to analyse yields, risks and valuation for fixed income securities in an uncertain context;

(LO6) Fixed Income: A conceptual understanding of the principles underlying the yields, risks and valuation of fixed income securities and the application of current valuation techniques.

(S1) Adaptability

(S2) Problem solving

(S3) Numeracy

(S4) Commercial awareness

(S5) Organisational skills

(S6) Written communication skills

(S7) International awareness

(S8) Lifelong learning

(S9) Ethical awareness

Teaching and Learning Strategies

Lectures x 49 hours
Lectures will be full days in order to cover the wide range of material relevant to this module. Lectures will be interactive and participative. Students will be required to attempt questions within the lectures and feedback on those questions will be given.

Self-directed learning hours x 101 hours
VITAL will be used to support the delivery of this module in the following ways:

Any announcements relating to the course will be made via VITAL;
Any additional material or readings will be made available via VITAL;
Discussion forums will be made available on VITAL;
Practice questions and answers will be made available on VITAL.

Syllabus
 

Equity Investments:

Types of equity securities and their characteristics;

Equity markets: characteristics, institutions, and benchmarks;

Fundamental analysis (sector, industry, company) and the valuation of individual equity securities;

Equity market valuation and return analysis;

Special applications of fundamental analysis (residual earnings);

Equity of hybrid investment vehicles.

Fixed Income:

Types of fixed income securities and their characteristics;

Fixed income markets: characteristics, institutions, and benchmarks;

Fixed income valuation (sector, industry, company) and return analysis;

Term structure determination and yield spreads;

Analysis of interest rate risk;

Analysis of credit risk;

Valuing bonds with embedded options;

Structured products.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.