Financial Theory

6th Εξάμηνο

Ακαδημαϊκό Έτος 2025-26

Με Μια Ματιά

Κωδικός Μαθήματος

ΧΡΘΕΡ01

Τύπος Μαθήματος

Compulsory. Background for all courses in Finance

Γλώσσα Διδασκαλίας

Greek

Το μάθημα προσφέρεται σε φοιτητές Erasmus;

Τρόπος Παράδοσης

Face-to-face

Χρήση Τεχνολογιών Πληροφορίας και Επικοινωνιών

Αυτοτελείς Διδακτικές Δραστηριότητεσ

Τύπος

Lectures

Εβδομαδιαίες Ώρες

Μονάδες ECTS

7,5

Περιγράμματα Σπουδών

🇬🇷 Ελληνικά

🇬🇧 Αγγλικά

Συνδεσμοι

Αξιολόγηση Φοιτητών

Final Exam

Interaction over lectures

Problems solving

Μαθησιακά Αποτελέσματα

Students will become familiar with the foundations of Financial Theory. This is a compulsory course that covers topics such as expected utility theory, portfolio choice under uncertainty, Markowitz theory, the foundations and use of the Capital Asset Pricing Model, and Arbitrage Pricing Theory. Emphasis is placed on the theoretical foundations.

Γενικές Ικανότητες

Search for, analysis and synthesis of data and information, with the use of the necessary technology
Adapting to new situations
Decision-making
Working independently
Team work
Working in an international environment
Working in an interdisciplinary environment
Production of new research ideas

Περιεχόμενο Μαθήματος

Five Sections:

Expected Utility (axioms of investor’s behavior under uncertainty, definition of risk aversion, risk premium, certainty equivalent, Pratt-Arrow risk premium, standard utility functions)
Portfolio Choice (general setting, Arrow’s theorems)
Markowitz Theory (portfolio statistics, portfolio frontier, minimum variance frontier, efficient frontier, two fund separation theorem, optimal portfolio)
Capital Asset Pricing Model (assumptions, derivation, applications)
Arbitrage Pricing Theory (assumption, derivation, zero beta portfolios)

Βιβλιογραφία

Main:

Danthine and J. Donaldson, 2005, Intermediate Financial Theory, 2nd Edition, Elsevier.
Copeland, J. Weston, and Κ. Shastri, 2005, Financial Theory and Corporate Policy, Addison-Wesley Publishing Company.
Pennacchi, 2008, Theory of Asset Pricing, Pearson Education.

Supplementary:

Černý, 2004, Mathematical Techniques in Finance: Tools for Incomplete Markets, Princeton University Press
E.J. Elton, M.J. Gruber, S.J. Brown, W.N. Goetzmann, 2003, Modern Portfolio Theory and Investment Analysis, John Wiley and Sons, 6th Edition.
Fama, 1976, Foundations of Finance: Portfolio Decisions and Securities Prices, Basic Books, Inc, Publishers

The top finance journals

Μαθήματα Προπτυχιακού

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Regulation of Financial Markets

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2ο Εξάμηνο