***WARNING: THIS IS A COPY OF A PREVIOUS SEMESTER'S DESCRIPTION.  WE WILL PROVIDE AN UPDATE AS SOON AS WE RECEIVE ONE FROM THE INSTRUCTOR***
 
 

COURSE NUMBER: BA233, Section 2

COURSE TITLE: SECURITIES MARKETS AND INVESTMENT POLICIES

UNITS OF CREDIT: 3

INSTRUCTOR: Professor Terry Marsh

E-MAIL ADDRESS: terry@quantal.com

MEETINGS DAYS/TIME: Wednesday and Friday 8:00 - 9:30 AM

PREREQUISITIES: BA203 OR INSTRUCTOR APPROVAL

CLASS FORMAT: lectures, discussion, background reading

REQUIRED READINGS: a "fat" course reader will be available with up-to-date articles; one or two papers will be selected as background reading for each class or topic (the remaining articles are meant to provide an up-to-date reference source for people who want to pursue a particular topic in detail (e.g. in a subsequent job). Background references: Sharpe, Investments; Hull, Options, Futures, and Other Derivative Instruments. There will be two or three "hands-on" medium-size projects through the semester, plus possibly a couple of "quizzes" throughout the semester.

COURSE DESCRIPTION:

The following topics will be covered: government and corporate fixed income security pricing; portfolio management; asset pricing; derivatives and dynamic trading strategies; market microstructure and trading systems (briefly); and if time permits, some of the new analytical work on financial innovation and financial institutions.

There will be five or six outside speakers during the semester, and one of the projects will possibly be management of a (small) portfolio of "real" funds. The emphasis will be on developing an ability to work with financial tools; please don't take the course if you just like to memorize things and/or you're grade fixated!! (You'll be unhappy and I'll be unhappy---obviously not pareto optimal).

BIOGRAPHICAL SKETCH:

Terry Marsh: Associate Professor of Finance, UC Berkeley B.Comm/B.Comm (Hons), University of Queensland (Australia), 1972.M.B.A., University of Chicago, 1978; Ph.D. University of Chicago, 1980.Assistant and Associate Professor, MIT, 1980-1985; Finance Group Chairman, Berkeley, 1987-1990.

Awards ETC. Batterymarch Fellow, 1985; National Fellow, Hoover Institution Stanford University, 1986; Staff Member, Presidential Task Force On Market Mechanisms (Brady Commission), 1987-88; Fellow, CPA, Australian Society of Accountants; Yamaichi Fellow and Visiting Professor, University of Tokyo, Faculty of Economics, 1993-1994; Consultant: American Stock Exchange, New York Stock Exchange, Options Clearing Corporation, Industrial Bank of Japan, New Japan Securities; BANAMEX; Director, Buchanan Fund (London); Founding Principal: Quantal International Inc.