2017/2018 KANCOECO1050U Asset Pricing
English Title  
Asset Pricing 
Course information 

Language  English 
Course ECTS  7.5 ECTS 
Type  Mandatory offered as elective 
Level  Full Degree Master 
Duration  One Semester 
Start time of the course  Autumn 
Timetable  Course schedule will be posted at calendar.cbs.dk 
Max. participants  50 
Study board 
Study Board for MSc in Advanced Economics and
Finance

Course coordinator  


Main academic disciplines  


Last updated on 26022018 
Relevant links 
Learning objectives  
To achieve the grade 12, students should meet the
following learning objectives with no or only minor mistakes or
errors:


Course prerequisites  
This is a mandatory course for the MSc in
Advanced Economics and Finance. It is assumed that students have
knowledge similar to the entry requirements for this programme. The
course has 45 confrontation hours and there is a high level of
interaction betw. lecturer and students, and in general a high work
load.
To sign up send a 1page motivational letter, a 1page CV, and a grade transcript to oecon.eco@cbs.dk no later than XX XX 2016. Please also remember to sign up through the online registration 

Prerequisites for registering for the exam  
Number of mandatory
activities: 2
Compulsory assignments
(assessed approved/not approved)
The students must hand in two written assignments during the course and must pass them both on an approved/not approved basis before the final exam. If a student  due to documented illness or failed attempts  does not pass both assignments, the student will be given a final chance to retake this part of the course by handing in a new assignment prior to the final exam. The two group course works are designed to explore: 1. Crosssectional tests of asset returns 2. Timeseries tests of asset returns The assignments are made in groups of three students. 

Examination  


Course content and structure  
Asset pricing theory is the subject of uncertain cash flow
valuation in terms of risk adjustments. Empirical work typically
infers these risk adjustments, imbedded in low average prices, from
high average returns. For example, the equity risk premium
This course provides a first principles account of discrete time
asset pricing theory.
The syllabus is both exciting and extensive covering:
 Choice Under Uncertainty, Utility Functions, and Risk Aversion


Teaching methods  
The course consists of both lectures and problem
classes.
Approximately 2/3 of the course consists of lectures with the remaining 1/3 problem classes. A full timetable will be published on learn.cbs.dk in advance of the course start date. 

Feedback during the teaching period  
Exercises Classes
Course works Forum 

Student workload  


Further Information  
PhD students taking the CBS PhD course in Asset Pricing are following a large part of this course and may be present during the lecture sessions. 

Expected literature  
Indicative:
