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 | BEHAVIOURAL FINANCE | ||
Code | ACFI311 | ||
Coordinator |
Dr V Kallinterakis Finance and Accounting V.Kallinterakis@liverpool.ac.uk |
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Year | CATS Level | Semester | CATS Value |
Session 2021-22 | Level 6 FHEQ | Second 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 |
6 |
12 6 12 |
36 | ||||
Timetable (if known) |
60 mins X 1 totaling 6
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60 mins X 1 totaling 12
60 mins X 1 totaling 12 120 mins X 1 totaling 24 |
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Private Study | 114 | ||||||
TOTAL HOURS | 150 |
Assessment |
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EXAM | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Assessment 1: Written Unseen Open Book Examination Assessment Type: Written Exam Duration: 24 hours (2 hour expected completion time) Weighting: 70% Reassessment Opportunity: Yes Penalty f | 24 hours | 70 | ||||
CONTINUOUS | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Assessment 2: Group Coursework Assessment Type: Coursework Size: 3000 word Weighting: 30% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applied Anonymous Assess | -3000 words | 30 |
Aims |
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Provide students with knowledge and understanding of theoretical and empirical limitations of and challenges to the efficient markets hypothesis; Present the psychological foundations of Behavioural Finance and how they impact upon investors’ rationality and arbitrage; Provide the opportunity for students to critically evaluate behaviourally induced market puzzles; Present key behavioural trading patterns from a theoretical perspective and outline their empirical design. |
Learning Outcomes |
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(LO1) Understand the key concepts and issues in behavioural finance |
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(LO2) Possess a good command of the key theoretical and empirical literature in behavioural finance |
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(LO3) Have practiced skills of problem-solving and critical thinking |
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(LO4) Be familiar with the main implications (theoretical and empirical) of Behavioural Finance findings |
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(LO5) Construct and present critical evaluations of key academic papers in Behavioural Finance |
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(LO6) Development of key skills in terms of writtencommunication (eg by completing formative class questions and assignment;through a summative assignment and examination) |
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(LO7) Developmentof key skills in oral presentation (eg through group work) |
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(LO8) Development of key skills in terms of class participation |
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(LO9) Development of key skills in terms of planning and time-management (eg preparing for classes; observing assignment deadlines),problem-solving, critical thinking and analysis, numeracy (eg by applyingtheir extant quantitative knowledge in understanding behavioural financeissues) and initiative (eg searching relevant literature and information inpreparation of seminars and summative assignment) |
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(S1) Teamwork |
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(S2) Organisational skills |
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(S3) Communication skills |
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(S4) IT skills |
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(S5) International awareness |
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(S6) Lifelong learning skills |
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(S7) Ethical awareness |
Teaching and Learning Strategies |
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Teaching Method: Online Asynchronous Learning Materials Teaching Method: Seminar Teaching Method: Group Study Self-Directed Learning Hours: 114 Skills/Other Attributes Mapping Skills / attributes: Ethical awareness Skills / at
tributes: Lifelong learning skills Skills / attributes: International awareness Skills / attributes: IT skills Skills / attributes: Communication skills Skills / attributes: Organisational skills Skills / attributes: Teamwork |
Syllabus |
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Efficient Market Hypothesis and its limitations; Limits to Rationality 1: biases and heuristics; Limits to Rationality 2: behavioural decision making; Limits to Arbitrage and the noise trader hypothesis; Behavioural Puzzles: Theory and Empirical Evidence; Overreaction, Underreaction and how to profit from them; Feedback Trading: Theory and Empirical Identification; Herd Behaviour: Theory and Empirical Identification; Speculative Bubbles and Financial Crises; Behavioural Finance and Financial Regulation; Revision session. |
Recommended Texts |
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Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module. |