• Be able to explain and employ the investment terms and the various tools used by investment professionals
• Understand the theories and practices of investment management
• Understand the techniques used to provide valuations of stocks and their stregths and weaknesses
• Be familiar with Fundamental analysis of stocks and its predictive power
• Be able to differentiate passive versus active portfolio management and articulate arguments as to the advantages and disadvantages of each
• Be conversant with various instruments of fixed income investing and their purpose
• Be familiar with mutual funds, evaluation of them and their advantages and disadvantages
• Be familiar with the Capital Asset Pricing Model (CAPM)

The goal of this course is to introduce students to the fundamentals of finance and to the world of financial markets. We will discuss stocks and bonds and their valuation, fundamentals of investing, the principle of risk and return, portfolio construction, financial planning and budgeting. We will also explore the new world of Impact Finance which creatively combines the goals of financial returns with an emphasis on social impacts.

A feedback activity will be provided no later than class session 6. In order to provide students with an opportunity to be evaluated on their likely performance on the final exam, a sample exam will be posted on LEARN which will be formatted similar to the final exam. This practice test will be returned with feedback. This will provide students information as to whether they are on track for successful completion of the course. 

Preliminary assignment: Begin thinking about stock market investing. Read Chapter 1 of Essentials of Investments 10th Ed. by Bodie, Kane and Marcus, published by McGraw Hill. After reading the chapter, log on to finance.yahoo.com. Under the search tool: Quote Lookup, type in the symbol AAPL and enter. This will bring up the price per share of Apple Computer. Click on Profile to read about its business. Then go to Key Statistics. How many shares are outstanding? What is the total market value of the firm?What were its profits in the most recent fiscal year? Look up Holders. Who are the biggest shareholders? Go to Analysts. What was the average price target forecast? Do you think it looks like a good buy at present levels? Why or why not? Come to class the first session to talk about these issues.

Class 1: Overview of Finance and Financial Assets
Class 2: Financial Markets and Investment Banking Process
Class 3: Valuation Concepts of Stocks
Class 4:Risk and Rates of Return of Various Asset Classes
Class 5: Fundamental Analysis of Stocks
Class 6: Fixed Income and Bond Investing

Feedback activity: Practice exam posted on LEARN

Class 7: Asset Allocation and Risk Management
Class 8: Portfolio Management and Construction
Class 9: Mutual Funds and Investment Vehicles
Class 10: Financial Planning and Budgeting
Class 11: New Trends: Impact Finance

Preliminary Assignment: To help students get maximum value from ISUP courses, instructors provide a reading or a small number of readings or video clips to be read or viewed before the start of classes with a related task scheduled for class 1 in order to 'jump-start' the learning process.

Course timetable is available on https://www.cbs.dk/uddannelse/international-summer-university-programme-isup/courses-and-exams.

We reserve the right to cancel the course if we do not get enough applications. This will be communicated on https://www.cbs.dk/uddannelse/international-summer-university-programme-isup/courses-and-exams end February 2018 at the latest.

Mandatory readings:

Zvi Bodie, Alex Kane, Alan Marcus
Essentials of Investments
ISBN-13: 978-0077835422; ISBN-10: 0077835425
McGraw Hill; 10th Edition, 2016