BE362-7-SP-CO:
Fixed Income Securities
2024/25
Essex Business School
Colchester Campus
Spring
Postgraduate: Level 7
Current
Monday 13 January 2025
Friday 21 March 2025
20
23 July 2024
Requisites for this module
(none)
BE354 and BE399 and BE953
(none)
(none)
(none)
MSC N39012 Investment and Wealth Management,
MSC N39024 Investment and Wealth Management
This module focuses on concepts and tools that are useful to asset managers who want to use fixed income securities for investing, market-making or speculating.
This course is quantitative in nature and some mathematical derivations may be carried out. Although recalls of the main concepts will be made in class, you are expected to be familiar with basic mathematics, statistics and economics and some basic concepts of investment management.
The aims of this module are to:
- Study fixed income markets and instruments.
- Study concepts of bond portfolio management.
- Examine the quantitative tools used to value and manage bond portfolios.
By the end of this module, students will be expected to be able to:
- Understand the depth and breadth of fixed income markets and instruments.
- Construct, value and manage portfolio of fixed income securities.
- Compute and interpret the term structure of interest rates.
- Set up investment strategies based on Treasury and corporate fixed income securities.
Skills for Your Professional Life (Transferable Skills)
After completing this module, students have developed and improved the following employability-related skills:
- In-depth knowledge and understanding of the concepts and tools related to fixed income investment and trading activities.
- Enhance your analytical and critical thinking by solving real-world problems, such as producing a credit analysis report, identifying mispricing and setting up a trading strategy, and interpreting the shape and movement of the yield curve.
- Improve your commercial awareness by investigating the current trends in fixed income markets.
This module will overview fixed income markets and instruments. It will then introduce basic concepts of bond portfolio management (e.g. price-yield relationship, discount factors, and price sensitivity measures). The module is completed by exploring the quantitative tools used to value bonds and manage bond portfolios. Both theoretical intuitions and practical implications are emphasized.
This module will be delivered via:
- One 2-hour lecture per week.
This module does not appear to have a published bibliography for this year.
Assessment items, weightings and deadlines
| Coursework / exam |
Description |
Deadline |
Coursework weighting |
| Written Exam |
In-class Test |
|
100% |
| Exam |
Main exam: In-Person, Open Book, 120 minutes during Summer (Main Period)
|
| Exam |
Reassessment Main exam: In-Person, Open Book, 120 minutes during September (Reassessment Period)
|
Additional coursework information
Coursework is an online test
Exam format definitions
- Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
- In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
- In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
- In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary,
for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.
Your department will provide further guidance before your exams.
Overall assessment
Reassessment
Module supervisor and teaching staff
Dr Chiara Banti, email: cbanti@essex.ac.uk.
Dr Chiara Banti and Dr Vivek Nawosah
ebspgtad@essex.ac.uk
Yes
No
Yes
Dr Nikolaos Voukelatos
University of Kent
Senior Lecturer in Finance
Available via Moodle
Of 22 hours, 22 (100%) hours available to students:
0 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).
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