École du management et de l'innovation, Master Finance et stratégie
Course Description : The 21st century is the age of increasing civic engagement, new philanthropy, social investing and hybrid solutions to resolve societal issues. It is a society seeking values, inﬂuenced by the 'Millennial Generation, addressing critical global challenges. The course looks at : civil society and social investing : philanthropy, impact investing, social business ; evaluation and motivation to produce systemic change. The course aims to improve understanding of the role of citizens, civil society organisations, business, the public sector and provide options for addressing the challenges of this millennium. It combines theory and practice, academic knowledge, case studies and discussions with : impact investors, foundation ofﬁcers, and corporate leaders from Europe and the United States. Required reading : Sievers, Bruce R., "Civil Society, Philanthropy and the Fate of the Commons," University Press of New England, 2010 ; Reich, R., “A Failure of Philanthropy : American Charity Short changes the Poor, and Public Policy is Partly to Blame,” Stanford Social Innovation Review, 2005. ; Achleitner, Ann-Kristin. Heinecke, Andreas. Abigail, Schöning. Mirjam, and SpiessKnaﬂ, Wolfgang., “Social Investment Manual : An Introduction for Social Entrepreneurs”, Schwab Foundation and Technische Universität München, September 2011, pgs. 5 – 8. ; Brest, Paul., “A Decade of Outcome-Oriented Philanthropy,” Stanford Social Innovation Review”, Spring 2012. ; Bannick, Matt and Goldman, Paula, “Priming the Pump : The Case for a Sector Based Approach to Impact Investing, Omidyar Network, 2012. Full Report : https ://www.omidyar.com/sites/default/ files/file_archive/insights/Priming%20the%20 Pump_Omidyar%20Network_Sept_2012.pdf.
Pedagogical format : Seminar Course validation : Credits : 2. Continuous assessment grade. Workload : Some sessions could be introduced by a presentation prepared in advance by a small group of students. Pedagogical method : Investment is a key decision for individuals, ﬁnancial institutions, asset managers, corporates or public bodies. The course is about the practical construction and management of portfolios consisting of various assets. Main ﬁnancial theories are supposed to be known, we will focus on their potential roles and limitations, from the angle of effectively managing a portfolio in real life. 6 seminars of 2h by week (12h). Course Description : Introduction to Investment Decision and Portfolio Management ; history and evolution ; Risk/return concepts involved in portfolio management ; The portfolio management process ; Different asset classes ; Different types of portfolios ; Different types of investors ; Different types of models ; From portfolio management theory to practical issues (models and their limits) ; Markowitz model and its efﬁcient frontier ; Capital asset pricing model (CAPM) ; Arbitrage ; pricing model ; The chaos theory ; Technical analysis ; Behavioral ﬁnance ; Portfolio management by asset class (Equity portfolio, Bond portfolio, Loan portfolio, Forex and commodities) ; Usage of Derivatives and hedging in portfolio management (Derivatives for hedging purposes, Derivatives as new asset classes) ; Global allocation and evaluation of of portfolio performance ; Measures of risk and return as applied to a portfolio ; Index approach ; Assessing portfolio managers. Required reading : Analysis of Investments and Management of Portfolios, Keith C. Brown, Frank K. Reilly ; Modern Portfolio Theory and Investment Analysis, Elton, Gruber, Brown, Goetzmann.
Semester : Autumn Number of hours : 12 Language of tuition : English
Opened to the exchange program
Teachers : Jean-Paul OUDET (Président, JPO Conseil). Prerequisite : Basic knowledge of ﬁnancial markets, securities and derivatives is needed, as well as a good understanging of the main ﬁnancial theories (Markowitz, CAPM, APT).
Semestre : Automne Nombre d'he