https://wiki.cs.hse.ru/api.php?action=feedcontributions&feedformat=atom&user=IKestner 2026-09-21T16:29:02Z Вклад MediaWiki 1.43.9 https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2026/2027&diff=97365 2026-09-08T21:48:18Z

<p>IKestner: /* Problem Sets for classes */</p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3 !! 4<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;4&quot;| Irina Kestner<br /> |-<br /> | Lecturer in Semester 2|| colspan=&quot;4&quot;| Alina Myalo<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']<br /> <br /> == Course Description ==<br /> <br /> [https://www.hse.ru/edu/courses/1163485416 Introduction to Finance 1 syllabus]<br /> <br /> [https://www.hse.ru/edu/courses/1163485428 Introduction to Finance 2 syllabus]<br /> <br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1UjzxOocRvB5BQ9lJDmfpJPpg67uKqIGk/view?usp=sharing '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/1DGFaBb-25WP2nHu0FahE90UeAw0mU-t5/view?usp=sharing '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.<br /> * [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.<br /> <br /> == Problem Sets for classes ==<br /> * [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.<br /> * ['''Problem Set 2'''] (17.09.2026) Time value of money: annuities.<br /> <br /> == Home Assignments ==<br /> * [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.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=97364 2026-09-08T21:46:32Z

<p>IKestner: /* Teachers and Assistants */</p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Lecturer in Semester 2|| colspan=&quot;3&quot;| Alina Myalo<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner <br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> <br /> [https://www.hse.ru/edu/courses/1086254020 Introduction to Finance 1 syllabus]<br /> <br /> [https://www.hse.ru/edu/courses/1086254028 Introduction to Finance 2 syllabus]<br /> <br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Dividend discount model. Gordon growth model.<br /> * [https://drive.google.com/file/d/1ryexx9yXKZSWnewJbt2aJEMbXNhO3Xw-/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025; revised 3.12.2025) Risk and return. Mean-variance frontier.<br /> * [https://drive.google.com/file/d/19wJNKZhN6gSPyq-MpOExt5HhYbnqqK-x/view?usp=sharing '''Lecture 7'''] (3.12.2025) CAPM.<br /> * [https://drive.google.com/file/d/1giqK5D6bZuGqt2qjkTOgLC3_C8hwP9OP/view?usp=sharing '''Lecture 8'''] (9.12.2025) Derivatives.<br /> <br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> * [https://drive.google.com/file/d/1OANS4XFiISuXS8yD8XVayyrhFcFU8Atj/view?usp=sharing '''Problem Set 7'''] (28.11.2025) Capital Asset Pricing model.<br /> * [https://drive.google.com/file/d/1iBO_iwvnNGmERxqMyJsC9Hfnf7Lj191R/view?usp=sharing '''Problem Set 8'''] (9.12.2025) Derivatives.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques.<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 23.11.2025) Valuation of securities.<br /> * [https://drive.google.com/file/d/1QoDl6B9Fa5UxWjxoJxhxEcNe1SQhrzzX/view?usp=sharing '''HA 4'''] (posted 28.11.2025; deadline 7.12.2025) Portfolio Theory and CAPM.<br /> * [https://drive.google.com/file/d/1GX8n4XQGBp0u95dmFTw3G3hBxuc7GXFQ/view?usp=sharing '''HA 5'''] (posted 13.12.2025; deadline 20.12.2025) Derivatives.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=97363 2026-09-08T21:45:19Z

<p>IKestner: /* Teachers and Assistants */</p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3 !! 4<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;4&quot;| Irina Kestner<br /> |-<br /> | Lecturer in Semester 2|| colspan=&quot;4&quot;| Alina Myalo<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> <br /> [https://www.hse.ru/edu/courses/1086254020 Introduction to Finance 1 syllabus]<br /> <br /> [https://www.hse.ru/edu/courses/1086254028 Introduction to Finance 2 syllabus]<br /> <br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Dividend discount model. Gordon growth model.<br /> * [https://drive.google.com/file/d/1ryexx9yXKZSWnewJbt2aJEMbXNhO3Xw-/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025; revised 3.12.2025) Risk and return. Mean-variance frontier.<br /> * [https://drive.google.com/file/d/19wJNKZhN6gSPyq-MpOExt5HhYbnqqK-x/view?usp=sharing '''Lecture 7'''] (3.12.2025) CAPM.<br /> * [https://drive.google.com/file/d/1giqK5D6bZuGqt2qjkTOgLC3_C8hwP9OP/view?usp=sharing '''Lecture 8'''] (9.12.2025) Derivatives.<br /> <br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> * [https://drive.google.com/file/d/1OANS4XFiISuXS8yD8XVayyrhFcFU8Atj/view?usp=sharing '''Problem Set 7'''] (28.11.2025) Capital Asset Pricing model.<br /> * [https://drive.google.com/file/d/1iBO_iwvnNGmERxqMyJsC9Hfnf7Lj191R/view?usp=sharing '''Problem Set 8'''] (9.12.2025) Derivatives.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques.<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 23.11.2025) Valuation of securities.<br /> * [https://drive.google.com/file/d/1QoDl6B9Fa5UxWjxoJxhxEcNe1SQhrzzX/view?usp=sharing '''HA 4'''] (posted 28.11.2025; deadline 7.12.2025) Portfolio Theory and CAPM.<br /> * [https://drive.google.com/file/d/1GX8n4XQGBp0u95dmFTw3G3hBxuc7GXFQ/view?usp=sharing '''HA 5'''] (posted 13.12.2025; deadline 20.12.2025) Derivatives.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=97362 2026-09-08T21:44:19Z

<p>IKestner: /* Teachers and Assistants */</p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Lecturer in Semester 2|| colspan=&quot;3&quot;| Alina Myalo<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> <br /> [https://www.hse.ru/edu/courses/1086254020 Introduction to Finance 1 syllabus]<br /> <br /> [https://www.hse.ru/edu/courses/1086254028 Introduction to Finance 2 syllabus]<br /> <br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Dividend discount model. Gordon growth model.<br /> * [https://drive.google.com/file/d/1ryexx9yXKZSWnewJbt2aJEMbXNhO3Xw-/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025; revised 3.12.2025) Risk and return. Mean-variance frontier.<br /> * [https://drive.google.com/file/d/19wJNKZhN6gSPyq-MpOExt5HhYbnqqK-x/view?usp=sharing '''Lecture 7'''] (3.12.2025) CAPM.<br /> * [https://drive.google.com/file/d/1giqK5D6bZuGqt2qjkTOgLC3_C8hwP9OP/view?usp=sharing '''Lecture 8'''] (9.12.2025) Derivatives.<br /> <br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> * [https://drive.google.com/file/d/1OANS4XFiISuXS8yD8XVayyrhFcFU8Atj/view?usp=sharing '''Problem Set 7'''] (28.11.2025) Capital Asset Pricing model.<br /> * [https://drive.google.com/file/d/1iBO_iwvnNGmERxqMyJsC9Hfnf7Lj191R/view?usp=sharing '''Problem Set 8'''] (9.12.2025) Derivatives.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques.<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 23.11.2025) Valuation of securities.<br /> * [https://drive.google.com/file/d/1QoDl6B9Fa5UxWjxoJxhxEcNe1SQhrzzX/view?usp=sharing '''HA 4'''] (posted 28.11.2025; deadline 7.12.2025) Portfolio Theory and CAPM.<br /> * [https://drive.google.com/file/d/1GX8n4XQGBp0u95dmFTw3G3hBxuc7GXFQ/view?usp=sharing '''HA 5'''] (posted 13.12.2025; deadline 20.12.2025) Derivatives.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2026/2027&diff=97087 2026-09-01T15:32:30Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Lecturer in Semester 2|| colspan=&quot;3&quot;| Alina Myalo<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+aR5zN1UaoLo1MWFi '''Telegram space''']<br /> <br /> == Course Description ==<br /> <br /> [https://www.hse.ru/edu/courses/1086254020 Introduction to Finance 1 syllabus]<br /> <br /> [https://www.hse.ru/edu/courses/1086254028 Introduction to Finance 2 syllabus]<br /> <br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG-P9/view?usp=sharin '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9fPu/view?usp=sharin '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5sYD/view?usp=sharin '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> <br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqmUj/view?usp=sharin '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.<br /> * [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.<br /> <br /> <br /> == Home Assignments ==<br /> * [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.<br /> <br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2026/2027&diff=97084 2026-09-01T14:03:23Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Lecturer in Semester 2|| colspan=&quot;3&quot;| Alina Myalo<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> <br /> [https://www.hse.ru/edu/courses/1086254020 Introduction to Finance 1 syllabus]<br /> <br /> [https://www.hse.ru/edu/courses/1086254028 Introduction to Finance 2 syllabus]<br /> <br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG-P9/view?usp=sharin '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9fPu/view?usp=sharin '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5sYD/view?usp=sharin '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> <br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqmUj/view?usp=sharin '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.<br /> * [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.<br /> <br /> <br /> == Home Assignments ==<br /> * [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.<br /> <br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8AR3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS64TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2026/2027&diff=97083 2026-09-01T14:02:43Z

<p>IKestner: Новая страница: «== Teachers and Assistants == {| class=&quot;wikitable&quot; |- ! Group !! 1 !! 2 !! 3 |- | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner |- | Lecturer in Semester 2|| colspan=&quot;3&quot;| Alina Myalo |- | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner |- | Consultations || - || - || - |} [https://t.me/+1S5kSZC0wp1jNDg6 &#039;&#039;&#039;Telegram space&#039;&#039;&#039;] == Course Description == [https://www.hse.ru/edu/courses/1086254020 Introduction to Finance 1 syllabus] [https...»</p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Lecturer in Semester 2|| colspan=&quot;3&quot;| Alina Myalo<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> <br /> [https://www.hse.ru/edu/courses/1086254020 Introduction to Finance 1 syllabus]<br /> <br /> [https://www.hse.ru/edu/courses/1086254028 Introduction to Finance 2 syllabus]<br /> <br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharin '''Lecture 0'''] (01.09.2026) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharin '''Lecture 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharin '''Lecture 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> <br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharin '''Problem Set 1'''] (01.09.2026) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharin '''Problem Set 2'''] (01.09.2026) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> <br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharin '''HA 1'''] (posted 01.09.2026; deadline 12.09.2026) Financial system, Time value of money.<br /> <br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=94224 2025-12-14T11:54:20Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Dividend discount model. Gordon growth model.<br /> * [https://drive.google.com/file/d/1ryexx9yXKZSWnewJbt2aJEMbXNhO3Xw-/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025; revised 3.12.2025) Risk and return. Mean-variance frontier.<br /> * [https://drive.google.com/file/d/19wJNKZhN6gSPyq-MpOExt5HhYbnqqK-x/view?usp=sharing '''Lecture 7'''] (3.12.2025) CAPM.<br /> * [https://drive.google.com/file/d/1giqK5D6bZuGqt2qjkTOgLC3_C8hwP9OP/view?usp=sharing '''Lecture 8'''] (9.12.2025) Derivatives.<br /> <br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> * [https://drive.google.com/file/d/1OANS4XFiISuXS8yD8XVayyrhFcFU8Atj/view?usp=sharing '''Problem Set 7'''] (28.11.2025) Capital Asset Pricing model.<br /> * [https://drive.google.com/file/d/1iBO_iwvnNGmERxqMyJsC9Hfnf7Lj191R/view?usp=sharing '''Problem Set 8'''] (9.12.2025) Derivatives.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques.<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 23.11.2025) Valuation of securities.<br /> * [https://drive.google.com/file/d/1QoDl6B9Fa5UxWjxoJxhxEcNe1SQhrzzX/view?usp=sharing '''HA 4'''] (posted 28.11.2025; deadline 7.12.2025) Portfolio Theory and CAPM.<br /> * [https://drive.google.com/file/d/1GX8n4XQGBp0u95dmFTw3G3hBxuc7GXFQ/view?usp=sharing '''HA 5'''] (posted 13.12.2025; deadline 20.12.2025) Derivatives.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=94151 2025-12-10T00:35:28Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Dividend discount model. Gordon growth model.<br /> * [https://drive.google.com/file/d/1ryexx9yXKZSWnewJbt2aJEMbXNhO3Xw-/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025; revised 3.12.2025) Risk and return. Mean-variance frontier.<br /> * [https://drive.google.com/file/d/19wJNKZhN6gSPyq-MpOExt5HhYbnqqK-x/view?usp=sharing '''Lecture 7'''] (3.12.2025) CAPM.<br /> * [https://drive.google.com/file/d/1giqK5D6bZuGqt2qjkTOgLC3_C8hwP9OP/view?usp=sharing '''Lecture 8'''] (9.12.2025) Derivatives.<br /> <br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> * [https://drive.google.com/file/d/1OANS4XFiISuXS8yD8XVayyrhFcFU8Atj/view?usp=sharing '''Problem Set 7'''] (28.11.2025) Capital Asset Pricing model.<br /> * [https://drive.google.com/file/d/1iBO_iwvnNGmERxqMyJsC9Hfnf7Lj191R/view?usp=sharing '''Problem Set 8'''] (9.12.2025) Derivatives.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques.<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 23.11.2025) Valuation of securities.<br /> * [https://drive.google.com/file/d/1QoDl6B9Fa5UxWjxoJxhxEcNe1SQhrzzX/view?usp=sharing '''HA 4'''] (posted 28.11.2025; deadline 7.12.2025) Portfolio Theory and CAPM.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=93941 2025-11-28T12:09:19Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Dividend discount model. Gordon growth model.<br /> * [https://drive.google.com/file/d/1VMq0EIzq89iXgZJqQp8k1SRXCRYL0D9s/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025) Risk and return. Mean-variance frontier.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> * [https://drive.google.com/file/d/1OANS4XFiISuXS8yD8XVayyrhFcFU8Atj/view?usp=sharing '''Problem Set 7'''] (28.11.2025) Capital Asset Pricing model.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques.<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 23.11.2025) Valuation of securities.<br /> * [https://drive.google.com/file/d/1QoDl6B9Fa5UxWjxoJxhxEcNe1SQhrzzX/view?usp=sharing '''HA 4'''] (posted 28.11.2025; deadline 7.12.2025) Portfolio Theory and CAPM.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=93940 2025-11-28T10:54:07Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Dividend discount model. Gordon growth model.<br /> * [https://drive.google.com/file/d/1VMq0EIzq89iXgZJqQp8k1SRXCRYL0D9s/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025) Risk and return. Mean-variance frontier.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> * [https://drive.google.com/file/d/1OANS4XFiISuXS8yD8XVayyrhFcFU8Atj/view?usp=sharing '''Problem Set 7'''] (28.11.2025) Capital Asset Pricing model.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques.<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 23.11.2025) Valuation of securities.<br /> * [ '''HA 4'''] (posted 28.11.2025; deadline 7.12.2025) Portfolio Theory and CAPM.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=93619 2025-11-13T23:30:59Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Dividend discount model. Gordon growth model.<br /> * [https://drive.google.com/file/d/1VMq0EIzq89iXgZJqQp8k1SRXCRYL0D9s/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025) Risk and return. Mean-variance frontier.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 22.11.2025) Valuation of securities<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=93618 2025-11-13T23:30:09Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> * [https://drive.google.com/file/d/12vH1AZ7OF_ZXDKgE8T2hAHy6eZ-Rxkvm/view?usp=sharing '''Lecture 5'''] (05.11.2025) Valuation of stocks. Gordon growth model.<br /> * [https://drive.google.com/file/d/1VMq0EIzq89iXgZJqQp8k1SRXCRYL0D9s/view?usp=sharing '''Lecture 6 Part 1'''] (12.11.2025) Risk and return. Mean-variance frontier.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> * [https://drive.google.com/file/d/1YfGgTFgQy_egCGO1jjJm0_zCS5xOQ58H/view?usp=sharing '''Problem Set 5'''] (01.11.2025) Duration.<br /> * [https://drive.google.com/file/d/18FZAnUJ5MxunyL98dpW20fkxAP1A8dXm/view?usp=sharing '''Problem Set 6'''] (15.11.2025) Valuation of stocks. Portfolio theory.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques<br /> * [https://drive.google.com/file/d/1bmUeGZfctw1Fr15OKAS4RVB59-juw_pV/view?usp=sharing '''HA 3'''] (posted 12.11.2025; deadline 22.11.2025) Valuation of securities<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=93081 2025-10-14T20:53:48Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/1u0XNzqkacNipKQZgjQwq7UNF0mVtSwuM/view?usp=sharing '''Lecture 4'''] (07.10.2025; revised on 14.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds. Duration.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=93080 2025-10-14T20:52:17Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/131MmKJZKHcFrnEQw59zG3rbCvG9I7H5g/view?usp=sharing '''Lecture 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']<br /> * [https://drive.google.com/file/d/18ecA2Dy8V-2ghUiGzpdJalq5bcdYqV3X/view?usp=sharing '''Mishkin &amp; Eakins''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92926 2025-10-07T20:56:21Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/131MmKJZKHcFrnEQw59zG3rbCvG9I7H5g/view?usp=sharing '''Lecture 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (01.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92925 2025-10-07T20:55:31Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/131MmKJZKHcFrnEQw59zG3rbCvG9I7H5g/view?usp=sharing '''Lecture 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (1.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92924 2025-10-07T20:55:04Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> * [https://drive.google.com/file/d/131MmKJZKHcFrnEQw59zG3rbCvG9I7H5g/view?usp=sharing '''Lecture 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (1.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> * [https://drive.google.com/file/d/1Sy-gtkCjsXwGFzczK5Oj3d0Cs1s2HG5g/view?usp=sharing '''Problem Set 4'''] (07.10.2025) Coupon and Discount Bonds. Yield Curve. Term Structure Theories. Valuation by absence of arbitrage. Yield to maturity. Corporate bonds.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92856 2025-10-05T19:08:17Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (1.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> * [https://drive.google.com/file/d/1n8gGT3OmVDtUOYklBlvMa8_7B8Qdb08z/view?usp=sharing '''HA 2'''] (posted 5.10.2025; deadline 12.10.2025) Project appraisal techniques<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92817 2025-10-03T15:13:32Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (1.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']<br /> * [https://drive.google.com/file/d/1-4xxOczOAQYnwy2cAh7r3wS641TsK4lK/view?usp=sharing '''Berk &amp; DeMarzo''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92816 2025-10-03T15:07:41Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (1.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.<br /> <br /> == Reading ==<br /> * [https://drive.google.com/file/d/1yFg-7jHL5ezg6wZnrk_C1J8ARF3bL_Yz/view?usp=sharing '''Subject Guide''']</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92815 2025-10-03T15:02:38Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || colspan=&quot;2&quot;| Yulia Komarova || Irina Kestner<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (1.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92814 2025-10-03T15:01:18Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1qU219BSXRbkwI_NykaCZDLGUP8GHqeJk/view?usp=sharing '''Problem Set 3'''] (1.10.2025) Project appraisal techniques: NPV, IRR, PB.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92555 2025-09-23T23:56:27Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> <br /> == Home Assignments ==<br /> * [https://drive.google.com/file/d/14foiSLJQS2015BbHS14v5nZvr3-OIjaZ/view?usp=sharing '''HA 1'''] (posted 24.09.2025; deadline 02.10.2025) Financial system, Time value of money.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92554 2025-09-23T23:36:00Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92553 2025-09-23T23:35:40Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/14hA9za8JtZVII9e3C1FCxqD03NRlxv-7/view?usp=sharing '''Problem Set 2'''] (24.09.2025)</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92552 2025-09-23T23:29:40Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> * [https://drive.google.com/file/d/1Jujwdv1qoBFJ0RLzmoeqfIF_TfoSzfv8/view?usp=sharing '''Lecture 3'''] (24.09.2025) Project appraisal techniques: NPV, IRR, PB; Fisher separation theorem.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92386 2025-09-16T18:11:38Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025; revised on 16.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=92383 2025-09-16T17:28:35Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer in Semester 1|| colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025 and 10.09.2025) Financial system: functions, institutions, markets, securities.<br /> * [https://drive.google.com/file/d/16IQ3puUFYFgFzC5AT_YhBoN5jkM5TsYD/view?usp=sharing '''Lecture 2'''] (17.09.2025) Time value of money: PV, FV, discounting, perpetuities, annuities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91913 2025-09-07T22:17:49Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''W''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91911 2025-09-07T22:17:32Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> 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.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''E''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91910 2025-09-07T22:17:09Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> The first part of the course - “Introduction to Finance I” - is devoted to principles of finance. It covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''E''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91909 2025-09-07T22:16:56Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> <br /> The first part of the course - “Introduction to Finance” - is devoted to principles of finance. It covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''E''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91908 2025-09-07T22:16:44Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “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.<br /> The first part of the course - “Introduction to Finance” - is devoted to principles of finance. It covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''E''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91907 2025-09-07T22:15:38Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> “Introduction to Finance I” is a basic one-semester course for second-year undergraduate students. The<br /> course is taught in English. It is part of the University of London curriculum.<br /> The approach of the course is analytical and emphasizes the link between microeconomics and finance. The first part of the course is devoted to principles of finance. It covers the essentials of capital budgeting and securities valuation, as well as basic asset pricing theories.<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''E''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91906 2025-09-07T22:13:18Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> [https://t.me/+1S5kSZC0wp1jNDg6 '''Telegram space''']<br /> <br /> == Course Description ==<br /> abc<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''E''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91905 2025-09-07T22:12:29Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> Telegram space https://t.me/+1S5kSZC0wp1jNDg6<br /> <br /> == Course Description ==<br /> abc<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''E''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91904 2025-09-07T22:10:20Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> == Course Description ==<br /> abc<br /> <br /> == Grading system ==<br /> <br /> During the course, the student will be formally graded on the following:<br /> *in-class attendance and activity ('''A''');<br /> *several lecture quizzes ('''Q''', where '''Q''' is the average grade of all the quizzes in the course);<br /> *several homework assignments ('''H''', where '''H''' is the average grade of all the homework assignments in the course);<br /> *one written Fall mid-term test ('''F''')<br /> *one written Winter exam ('''W''').<br /> <br /> All grades (namely, '''A''', '''Q''', '''H''', '''F''', and '''E''') are real numbers from 0 to 100.<br /> <br /> '''&lt;span style=&quot;color:#228B22&quot;&gt;The cumulative grade&lt;/span&gt;''', '''C''', is obtained '''without rounding''' by the following formula:<br /> <br /> '''C = 0.10*A + 0.05*Q + 0.15*H + 0.25*F + 0.45*W.'''<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91903 2025-09-07T21:59:52Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> == Course Description ==<br /> abc<br /> <br /> == Grading system ==<br /> abc<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.<br /> <br /> == Problem Sets for classes ==<br /> * [https://drive.google.com/file/d/1Mo-I0KODMpU8hm5axYpCIpuIi1dqwmUj/view?usp=sharing '''Problem Set 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91902 2025-09-07T21:56:54Z

<p>IKestner: </p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> == Course Description ==<br /> abc<br /> <br /> == Grading system ==<br /> abc<br /> <br /> == Lecture Notes ==<br /> * [https://drive.google.com/file/d/1dm6SB2yQX3gWTmPz7lMuCnvRQyeG9-P9/view?usp=sharing '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [https://drive.google.com/file/d/16qJaBZlj84MMj26BzqairTRspSW9RfPu/view?usp=sharing '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner https://wiki.cs.hse.ru/index.php?title=Introduction_to_Finance_DSBA_2025/2026&diff=91899 2025-09-07T19:52:24Z

<p>IKestner: Новая страница: «== Teachers and Assistants == {| class=&quot;wikitable&quot; |- ! Group !! 1 !! 2 !! 3 |- | Lecturer || colspan=&quot;3&quot;| Irina Kestner |- | Class teacher || Irina Kestner || c…»</p> <hr /> <div>== Teachers and Assistants ==<br /> <br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Group !! 1 !! 2 !! 3<br /> |-<br /> | Lecturer || colspan=&quot;3&quot;| Irina Kestner<br /> |-<br /> | Class teacher || Irina Kestner || colspan=&quot;2&quot;| Yulia Komarova<br /> |-<br /> | Consultations || - || - || -<br /> |}<br /> <br /> == Course Description ==<br /> abc<br /> <br /> == Grading system ==<br /> abc<br /> <br /> == Lecture Notes ==<br /> * [ '''Lecture 0'''] (03.09.2025) Intro, Grades, Reading list.<br /> * [ '''Lecture 1'''] (03.09.2025) Financial system: functions, institutions, markets, securities.</div>

IKestner