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 PORTFOLIO THEORY
Code ECON923
Coordinator Prof OT Henry
Finance and Accounting
Olan.Henry@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 24

10

  5

    39
Timetable (if known)              
Private Study 111
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Examination There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :1  2 Hours    80       
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Mid-term test There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :1  1 Hour    20       

Aims

To understand and appreciate the basic notions underlying the management and selection of efficient investments for portfolio construction. Special emphasis is given to notions of efficiency and the discussion of selection criteria.


Learning Outcomes

(LO1) Appreciate the pivotal elements of decision making under certainty and uncertainty, risk and risk management, portfolio choice, management and performance evaluation;

(LO2) Develop a systematicunderstanding, knowledge and critical awareness of the nature, concepts andconstruction of portfolios, having regard for the type of  investor;

(LO3) Apply knowledge,understanding and techniques underlying portfolio management strategies includingrisk management strategies in uncertain contexts;

(LO4) Develop  a conceptual and practical understanding ofthe understanding of performance evaluation of portfolios at the forefront ofcurrent practice.

(S1) Adaptability

(S2) Numeracy

(S3) Commercial awareness

(S4) Teamwork

(S5) Organisational skills

(S6) Communication skills

(S7) International awareness

(S8) Lifelong learning skills

(S9) Ethical awareness

(S10) Leadership


Teaching and Learning Strategies

Teaching Method 1 - Lecture
Description:
Attendance Recorded: No

Teaching Method 2 - Seminar
Description:
Attendance Recorded: Yes

Teaching Method 3 - Laboratory Work
Description: Laboratory work involves the use of Management School data facilities such as the Bloomberg training centre where students are asked to apply conceptual work using real data.
Attendance Recorded: Yes


Syllabus

 

Investment decisions under certainty and uncertainty;

The mean-variance approach to portfolio management: theory and implementation;

The CAPM and multi-factor asset pricing models: theory and  estimation investment performance evaluation;

Portfolio selection and risk management;

Practical portfolio management, to include topics from:
Management of individual/family investor portfolios;
Investment manager selection;
Mutual funds, pooled funds, and ETFs;
Execution of portfolio decisions;
Presentation of performance results (GIPS).

Alternative investments, including:
Types of alternative investments and their characteristics;
Real estate;
Private equity/venture capital;
Hedge funds;
Closely-held companies and inactively traded securities;
Distressed securities/bankruptsies;
Commodities;
Tangible assets with low liquidity;
Alternative investments management strategies.


Recommended Texts

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