2I14BUHV - Investment in Securities

Course specification
Type of study	Master academic studies
Study programme
Course title	Investment in Securities
Acronym	Status	Semester	Number of classes	ECTS
2I14BUHV	elective	1, 2	2L + 2E	5.0
Lecturers
Lecturer	prof. dr Dejan Mikerević prof. dr Tajana Serdar Raković
Lecturer/Associate (practicals)	prof. dr Dejan Mikerević prof. dr Tajana Serdar Raković
Prerequisite				Form of prerequisites
No				None
Learning objectives
The goal of this subject is that students master appropriate methods of risk analysis and yield of securities in the financial market. The classical techniques of risk management of investment portfolios, as well as methods of measuring the achieved performance will be analyzed within this subject. Besides that, the subject will address the instruments and techniques of hedging.
Learning outcomes
The students are trained to monitor, select and choose securities when creating an appropriate investment portfolio. They will be qualified to analyze and understand the obtained results from portfolio analysis, and to distinguish the quality of management of portfolio investments. The students will be able to actively participate in the management of investments in securities of institutional investors and banks.
Content
Environment of modern financial market; Analysis of yield and risks of individual securities (technical and fundamental analysis); Analysis and selection of the portfolio of securities - risk and yield; Markowitz’s model of portfolio selection; Application of CAPM and index models; Equity portfolio management strategies; Bond portfolio management strategies; Hedging – term, types and hedging techniques, the use of futures, options and swap arrangements as instruments of protection of investments in securities.
Teaching Methods
Lectures, discussions, analysis of case studies and consultations. Independent research and analysis of the experience of developed countries and developing countries.
Literature
Šoškić, B. D. (2006). Hartije od vrednosti: Upravljanje portfoliom i investicioni fondovi, treće izdanje. Beograd: Ekonomski fakultet (Original title) Bodie, Z.; Kane, A.; Marcus, J. A. (2004). Investments. 5th Edition. McGraw-Hill (Original title) Fabozzi, J. F.; Markowitz, M. H. (2002). The Theory and Practice of Investment Management. John Wiley and Sons (Original title)
Evaluation and grading
Exam, seminary work