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CM2: Financial Engineering & Loss Reserving
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Module 1
Foundations of Financial Markets
1
Functions and Participants in Financial Markets
Describe the primary functions of financial markets and the roles of key participants.
2
Understanding Core Financial Instruments
Define common financial instruments: equities (stocks), bonds, and derivatives.
3
Understanding the Efficient Market Hypothesis (EMH)
Define the Efficient Market Hypothesis (EMH) and distinguish between its weak, semi-strong, and strong forms.
4
Evidence for and Against EMH Forms
Describe the empirical evidence for and against each form of EMH.
5
EMH and Investment Management Strategies
Explain the implications of EMH for active vs. passive investment management.
6
Market Anomalies & Behavioral Finance
Describe common market anomalies and behavioural finance critiques of EMH.
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Utility Theory and Investment Risk