​Pre-requisites: Corporate Finance

This course is about the analysis of financial information – particularly the macro-economy and firms’ performance – for making decisions to invest in the securities issued by various entities. The course contains five main parts. The first part examines the pricing efficiency and microstructure of securities markets. In addition, this part examines the implications of “operational efficiency” in securities’ price behaviour. The second part provides candidates with some basic macroeconomic information which is important in understanding the impact of the macroeconomic environment on securities valuation. The third part highlights the framework for securities analysis. The fourth part examines equity valuation. The CAPM, how to estimate beta, and the effect of leverage and capital structure on valuation and betas are highlighted. The fifth part considers a myriad of issues concerning the analysis and valuation of financial securities.