厦门大学本科课程大纲

课程名称 Course title (in Chinese & English) 课程编号 Course number 开课学期 Semester 课程类型 Course type 先修课程 Prerequisite course 选用教材 Required textbook 选用教材（英文） Required English-written textbook 主要参考书 Main reference book 主要参考书（英文） Main English-written reference book 金融经济学 Financial Economics 学分/周学时 Credit/weekly teaching hour 开课学年 Academic year 2015-2016 3 credit /4 teaching hours per week Spring春季 学科类通修课程 经济学基础 Bodie, Merton and Cleeton, Financial Economics, 2nd edition 一、课程性质、目的与任务 Course description and objectives 本课是金融基础课，包括金融市场，金融资产以及如何估值和交易。金融市场构成了企业运行的外部金融环境。大部分时间里，我们会以一个金融市场的参与者的角度：比如投资者，投资顾问或者一个利用市场进行风险管理的投资者，来看待市场。 This course is about foundation of finance, financial markets: financial assets (securities) and how they are valued and traded. Financial markets constitute the financial environment in which the firm operates. For the most part, we take the viewpoint of a user of the financial market: an investor, investment advisor, or someone using the market to hedge (reduce) risk. 二、教学基本要求 Course requirements

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考核包括家庭作业以及以此随堂期中考试和一个期末考试。 考试将是闭卷形式，但是允许携带一个8.5乘11的便条，上面只允许公式，但不能有任何概念性东西，也不能有平时作业题。考试可以带一个金融计算器，但不能是科学计算器，特别是带有图表功能的。如有意携带以下型号的计算器比如 HP-10b, 10bII, 17b, 12c, 或者 TI Business Analyst，必须事先跟老师说明并证实可以。 There will be problem sets (to be handed in) as assignments. There will be an in-class midterm and a final exam. The exams are closed-book, but you can bring in one 8 1/2 \" x 11\" page of notes (covered both sides in the smallest typeface you can read). You can also (in fact, you should) bring in a financial calculator. As long as it is truly a financial calculator. Nothing that has a full QWERTY keyboard is acceptable for the exams. If you intend to use anything other than an HP-10b, 10bII, 17b, 12c, or a TI Business Analyst, please clear it with me at least one business day prior to the exam. 三、主要内容及学时安排 Main content and schedule 章或节Chapter/Session 主要内容 Main Contents 4 学时安排 Teaching hours 金钱的时间价值以及现金流折现方法 Lecture 1, Time value of money and The time value of money and the discount cash flow analysis DCF analysis 金钱的时间价值以及现金流折现方法 Lecture 2, Project 运用现金流折现方法对项目进行评估 How to evaluate projects based on present values using Evaluation 项目评估 discount cashflow analysis 4 Lecture 3, Valution 运用现金流折现方法对债券进行定价，债券市场的基本特征和情况介绍 assets:Bonds 资产定价：债券 Using discount cashflow analysis to price bonds, and the basic features of the bond market 4 Lecture 4, Valuation 运用现金流折现方法对股票进行定价，股票市场的特征以及情况介绍 assets:Stocks 资产定价：股票 Using discount cashflow analysis to price stocks, and the features of stock market 4 Lecture 5, In-class 随堂期中考试 Mid-term exam (1 In class midterm exam hour 30 minutes) 随堂期中考试 从多样化收益的角度引出资本资产定价模型，讨论风Lecture 6, Asset 险与回报率之间的关系，重点区分系统性风险以及个Pricing Models 资本资产定价模型 体性风险 Discussing about the capital asset pricing model (CAPM), - 2 -

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the relation between risk and returns, the difference between systematic risk and idiosyncratic risk Lecture 7, Derivative 简单介绍金融衍生品的种类，包括远期，期货和期权的概念 Analysis 衍生品分析 Different kinds of financial derivatives, including forwards, futures and options 4 Lecture 8, Hedging, 介绍三种主要风险管理手段，包括对冲，保险和分散 4 Introducing three risk management sharing methods: Insuring, and hedging, insuring and diversifying Diversifying 风险管理 Lecture 9, Portfolio 介绍投资组合理论，重点在风险分散带来的收益率与4 风险之间的关系 Theory Introducing the portfolio theory, with emphasis on the 投资组合理论 risk-return relation from risk diversifying Lecture 10, Portfolio 联系实际，介绍投资组合管理中的基本技巧和评估方法 management Introducing the real world portfolio management 投资组合管理 techniques and evaluation methods 4 Lecture 11, Capital 企业的资本结构以及MM定理 Capital structure and related theory such as MM Structure 资本结构 Lecture 12, Special 从行为金融的角度讨论公司如何运营，结合自己的科研成果介绍 Topic Discussing about ways of firm operations from the One:behavioral perspective of behavioral finance corporate finance 4 4 专题：行为公司金融 拓展衍生品分析的章节，让学生了解除了金融和商品4 Lecture 13, Real 期权以外，更企业有关的还有实物期权，举例说明。 Options Extending upon the chapter of derivatives analysis, 实物期权 discuss real options with examples Lecture 14, Special 介绍金融工程学科的基本原理和主要交易品种。重点让学生了解基本的交易策略以及如何运用这些策略进Topic Two: 行金融风险管理 Introduction to Introducing the basic principles of financial engineering Financial and main derivatives trading, with the emphasis on Engineering 4 专题：金融工程简letting students understand the basic trading strategies and how to use them to manage risk 介 合计： 四、考核方式： 56 课程最终得分取决于期中考试成绩（占35%）、期末成绩（由考勤分和期末考试成绩组成，占50%）以及平时作业（15%）。最终成绩将转化为字母表示如A,B,C等。这些权重如有需- 3 -

要可以进行调整。 平时作业大多为教科书后的练习题。但是偶尔会布置一些迷你型的案例分析，要求你们搜集真实数据并进行分析。 期中期末考试成绩会最终进行加权以使两次考试的难度得到一致考虑。加权后的成绩进入总分最后调整。 Your final grade in the course will be 35% Midterm, 50% Final and 15% problem sets. (I'll compute a numerical weighted average and then convert this to a letter grade.) These weights are tentative. Most problem sets will be questions and problems in your textbook. But occasionally I will assign some mini exercises asking you to collect real world data and do analysis. E.g. draw an efficient frontier using the real stock markets data. If time allows, we will also discuss two cases related to stock valuation. Be prepared to do presentations. On the midterm and final, I'll compute a curved score that will approximately adjust for any differences in difficulty between the two. It is the curved scores that will go into the final average. 五、开课专业： Majors that the course is designed for 经济学、金融学专业的学生 六、大纲制定者： 大纲审定者：韩乾 The syllabus is made by: qian han The syllabus is approved by: qian han 七、大纲制定时间： The syllabus is made on: 2016 YY 6 MM 15 DD

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