On completion of the course the students will be able to:

1. demonstrate knowledge about the features of international financial markets
2. demonstrate understanding of theories involving portfolio management and investment analysis
3. demonstrate knowledge about applied portfolio management and investment analysis

4. evaluate investment opportunities in international financial markets
5. identify a potential well diversified portfolio of financial assets
6. use a statistical software to construct optimal portfolios
7. perform the management of an artificial portfolio
8. evaluate portfolio performance using portfolio performance measures

9. judge investment decisions from a scientific viewpoint
10. recognize the importance of ethical considerations in investment decisions

The course has the objective of providing tools and techniques of portfolio management and investment analysis. The course covers (but is not restricted to) the following topics:

• Asset classes
• The macroeconomic environment and financial markets
• Risk, returns and diversification
• Optimal asset allocation and portfolio choice
• Asset pricing models
• Introduction to asset valuation
• Applied portfolio management
• Evaluation of portfolio performance using suitable measures

Connection to research and practice

Theories of portfolio management and investment analysis are presented in connection with applied portfolio management and real-world investment problems. The course is also related to research and practice as students write an assignment where questions related to the course content shall be analyzed by identifying relevant theoretical and empirical frameworks of analyses, by applying these frameworks using financial data retrieved from databases, and by identifying avenues for improving the performed analyses.

Lectures and tutorials (computer lab sessions)

The teaching is conducted in English.

Bachelor's degree in Business Administration or Economics (or the equivalent).

The course is graded A, B, C, D, E, FX or F.

Individual written examination: 4 credits (ILOs 1-4, 7-8 are examined)

Group assignment: 3.5 credits (ILOs 1-10 are examined)

Name of the Test	Value	Grading
Individual written examination	4 credits	A/B/C/D/E/FX/F
Group assignment	3.5 credits	A/B/C/D/E/FX/F

It is the responsibility of the examiner to ensure that each course is evaluated. At the outset of the course, the programme evaluators in the course must be contacted. In the middle of the course, the examiner should meet the programme evaluators to identify strengths/weaknesses in the first half of the course.
At the end of the course, the examiner should remind students to fill in the survey. The examiner should also call a meeting with the programme evaluators to debrief the course, based on course evaluation data and comments. The next time the course runs, students should be informed of any measures taken to improve the course based on the previous course evaluations.

At the end of each study period, JIBS’ Director of Quality and Accreditation crafts a “Course Evaluation Quarter Report”, presenting the quantitative results from course evaluation surveys. The Associate Dean of Education, The Associate Deans of Faculty, Programme Directors, and JSA President and Quality receive the report.

Academic integrity
JIBS students are expected to maintain a strong academic integrity. This implies to behave within the boundaries of academic rules and expectations relating to all types of teaching and examination. Copying someone else’s work is a particularly serious offence and can lead to disciplinary action. When you copy someone else’s work, you are plagiarising. You must not copy sections of work (such as paragraphs, diagrams, tables and words) from any other person, including another student or any other author. Cutting and pasting is a clear example of plagiarism. There is a workshop and online resources to assist you in not plagiarising called the Interactive Anti-Plagiarism Guide.

Other forms of breaking academic integrity include (but are not limited to) adding your name to a project you did not work on (or allowing someone to add their name), cheating on an examination, helping other students to cheat and submitting other students work as your own, and using non-allowed electronic equipment during an examination. All of these make you liable to disciplinary action.

Listed literature combined with lecture notes and handouts.
Main textbook:
Bodie, Z., Kane, A., & Marcus, A. Investments. McGraw-Hill, (10-th edition or newer)

Additional recommended (not mandatory) textbook:
Pfaff, Bernhard, Financial Risk Modelling and Portfolio Optimization, R, Wiley & Sons, (2013 or latest edition).