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Introduction to Finance DSBA 2026/2027

2026-09-16T09:23:54Z

FedorG: /* Problem Sets for classes */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions. Time value of money: PV, FV, discounting, perpetuities.
* [https://drive.google.com/file/d/1BvgLUFdeD30etDXzhjo654I7b8Kpb5Rz/view?usp=sharing '''Problem Set 2'''] (09.09.2026) Time value of money: annuities.
* [https://drive.google.com/file/d/10MJK6W4VgSFLnXVR75DALJ8K4hYEqE0s/view?usp=sharing '''Problem Set 3'''] (16.09.2026) Financial markets.

== Home Assignments ==
* [https://drive.google.com/file/d/1-CKvEItsJMRAHDdW8XtixXXxkLkgOz5h/view?usp=sharing '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.
* [https://drive.google.com/file/d/1VccKTXC_-wBhCpo4dDxWXfgGD5RwdrMa/view?usp=sharing '''HA 2'''] (posted 11.09.2026; deadline 19.09.2026) Banking risks and perpetuities.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-16T08:57:03Z

FedorG: /* Problem Sets for classes */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions. Time value of money: PV, FV, discounting, perpetuities.
* [https://drive.google.com/file/d/1BvgLUFdeD30etDXzhjo654I7b8Kpb5Rz/view?usp=sharing '''Problem Set 2'''] (09.09.2026) Time value of money: annuities.
* [https://drive.google.com/file/d/1QSY4aMM9bg-HV8qbqyAPmB9vZuAuPkRK/view?usp=sharing '''Problem Set 3'''] (16.09.2026) Financial markets.

== Home Assignments ==
* [https://drive.google.com/file/d/1-CKvEItsJMRAHDdW8XtixXXxkLkgOz5h/view?usp=sharing '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.
* [https://drive.google.com/file/d/1VccKTXC_-wBhCpo4dDxWXfgGD5RwdrMa/view?usp=sharing '''HA 2'''] (posted 11.09.2026; deadline 19.09.2026) Banking risks and perpetuities.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-11T11:53:49Z

FedorG: /* Home Assignments */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions. Time value of money: PV, FV, discounting, perpetuities.
* [https://drive.google.com/file/d/1BvgLUFdeD30etDXzhjo654I7b8Kpb5Rz/view?usp=sharing '''Problem Set 2'''] (17.09.2026) Time value of money: annuities.

== Home Assignments ==
* [https://drive.google.com/file/d/1-CKvEItsJMRAHDdW8XtixXXxkLkgOz5h/view?usp=sharing '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.
* [https://drive.google.com/file/d/1VccKTXC_-wBhCpo4dDxWXfgGD5RwdrMa/view?usp=sharing '''HA 2'''] (posted 11.09.2026; deadline 19.09.2026) Banking risks and perpetuities.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-09T10:55:35Z

FedorG: /* Problem Sets for classes */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions. Time value of money: PV, FV, discounting, perpetuities.
* [https://drive.google.com/file/d/1BvgLUFdeD30etDXzhjo654I7b8Kpb5Rz/view?usp=sharing '''Problem Set 2'''] (17.09.2026) Time value of money: annuities.

== Home Assignments ==
* [https://drive.google.com/file/d/1-CKvEItsJMRAHDdW8XtixXXxkLkgOz5h/view?usp=sharing '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-08T18:08:44Z

FedorG: /* Problem Sets for classes */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* ['''Problem Set 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Home Assignments ==
* [https://drive.google.com/file/d/1-CKvEItsJMRAHDdW8XtixXXxkLkgOz5h/view?usp=sharing '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-08T18:08:26Z

FedorG: /* Problem Sets for classes */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03Nlxv-7/view?usp=sharin '''Problem Set 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Home Assignments ==
* [https://drive.google.com/file/d/1-CKvEItsJMRAHDdW8XtixXXxkLkgOz5h/view?usp=sharing '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-08T18:07:52Z

FedorG: /* Problem Sets for classes */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* ['''Problem Set 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Home Assignments ==
* [https://drive.google.com/file/d/1-CKvEItsJMRAHDdW8XtixXXxkLkgOz5h/view?usp=sharing '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-08T17:04:09Z

FedorG: /* Home Assignments */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03Nlxv-7/view?usp=sharin '''Problem Set 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Home Assignments ==
* [https://drive.google.com/file/d/1-CKvEItsJMRAHDdW8XtixXXxkLkgOz5h/view?usp=sharing '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-08T17:03:31Z

FedorG: /* Problem Sets for classes */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/16ulvOZMyv3capd8QdBlKEOPOAiRezkfc/view?usp=sharing '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03Nlxv-7/view?usp=sharin '''Problem Set 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Home Assignments ==
* [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr-OIjaZ/view?usp=sharin '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']

Introduction to Finance DSBA 2026/2027

2026-09-08T17:01:11Z

FedorG: /* Lecture Notes */

== Teachers and Assistants ==

{| class="wikitable"
|-
! Group !! 1 !! 2 !! 3 !! 4
|-
| Lecturer in Semester 1|| colspan="4"| Irina Kestner
|-
| Lecturer in Semester 2|| colspan="4"| Alina Myalo
|-
| Class teacher || colspan="2"| Irina Kestner || colspan="2"| Yulia Komarova
|-
| Consultations || - || - || -
|}

[https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']

== Course Description ==

[https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]

[https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]

“Introduction to Finance” is a basic two-semester course for second-year undergraduate students. The course is taught in English. It is part of the University of London curriculum. The approach of the course is analytical and emphasizes the link between microeconomics and finance.

The first part of the course - “Introduction to Finance I” - covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.

== Grading system ==

During the course, the student will be formally graded on the following:
*in-class attendance and activity ('''A''');
*several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);
*several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);
*one written Fall mid-term test ('''F''')
*one written Winter exam ('''W''').

All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.

'''The cumulative grade''', '''C''', is obtained '''without rounding''' by the following formula:

'''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''

== Lecture Notes ==
* [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.
* [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/1vb8TpvgC8V7qkfrP7TvxNM45wW4K--Yp/view?usp=sharing '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Problem Sets for classes ==
* [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqmUj/view?usp=sharin '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.
* [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03Nlxv-7/view?usp=sharin '''Problem Set 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.

== Home Assignments ==
* [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr-OIjaZ/view?usp=sharin '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.

== Reading ==
* [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']
* [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk & DeMarzo''']
* [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin & Eakins''']