International Finance MFin
Asset Pricing ACCFIN5014
- Academic Session: 2026-27
- School: Adam Smith Business School
- Credits: 15
- Level: Level 5 (SCQF level 11)
- Typically Offered: Semester 2
- Available to Visiting Students: No
- Collaborative Online International Learning: No
- Curriculum For Life: No
Short Description
This course examines the core theories of asset pricing and their interaction with macroeconomic dynamics. Students learn how macro-finance drivers shape risk premia, and apply these frameworks to contemporary investment and financial policy.
Timetable
8 x 2 hour practical classes and workshops
4 x 1 hour tutorials
Excluded Courses
None
Co-requisites
None
Assessment
1. Written assignment, including essay; Individual; 1250 words; 50%; ILOs 1-2.
2. Degree exam: on campus; Individual; 90 minutes; 50%; ILOs 3-4.
Main Assessment In: April/May
Course Aims
The aim of this course is to:
■ Provide financial economic frameworks to examine asset prices dynamics, including equities, bonds, and hybrid financial products.
■ Critically examine, both theoretically and empirically, the operations of financial institutions and intermediaries and the implications of their decision makings on financial regulation and oversight.
Intended Learning Outcomes of Course
By the end of this course, students should be able to:
1. Examine the operations of financial institutions through static risk pricing and risk premia.
2. Derive key asset pricing results using stochastic discount factors, Euler equations, and dynamic optimisation techniques.
3. Critically appraise the implications of intermediaries' operations to asset prices, the flow of funds and ultimately the real economic performance.
4. Critically assess competing models of risk premia, including macro-finance and intermediary asset pricing approaches.