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                                         Financial Economics
 
1. Financial Mathematics
    1.1. Introduction: Basic concepts
    1.2. Types of financial laws
          1.2.1. Simple interest
          1.2.2. Compound interest
    1.3. Annuities
          1.3.1. Classification
          1.3.2. Valuation
    1.4. Inflation
    1.5. Compounding frequencies
    1.6. Loans and mortgages
    1.7. Investment selection criteria: NPV, IRR and Payback
          1.7.1. The Net Present Value (NPV) method: THE method
          1.7.2. The Payback method
          1.7.3. The Internal Rate of Return (IRR) method
2. Fixed Income
    2.1. Introduction
    2.2. Return on fixed-income securities
          2.2.1. Internal rate of return (IRR): The Yield Curve
          2.2.2. Term structure of interest rates: TSIR
          2.2.3. Forward rates
    2.3. Bond pricing
    2.4. Risk metrics
          2.4.1. Duration
          2.4.2. Convexity
    2.5. Corporate bonds
3. Portfolio Theory
    3.1. Risk and return of an asset
    3.2. Risk and return of a portfolio
    3.3. The diversification effect
    3.4. Efficient portfolios: The Markowitz’s model
    3.5. Generalization of the Markowitz’s model: The risk-free asset
    3.6. Estimation of the Efficient Frontier
    3.7. Capital Asset Pricing Model: CAPM
          3.7.1. Market equilibrium: Capital Market Line
          3.7.2. Assets equilibrium: Security Market Line
    3.8. CAPM and equity pricing: The Dividend Discount Model
    3.9. Practical problems in the implementation of the CAPM
4. Financial Derivatives
    4.1. Introduction
    4.2. Forwards and Futures                           
          4.2.1. On interest rates
          4.2.2. On currencies
          4.2.3. On financial assets
    4.3. Options
          4.3.1. Introduction
          4.3.2. Call and put options: pay-offs and benefits
          4.3.3. The put - call parity
          4.3.4. Discrete-time option pricing: the Binomial Model          
          4.3.5. Continous-time option pricing: The Black-Scholes Model