The basis of finance includes economics (microeconomics and macroeconomics), macro finance (international finance and monetary banking) and micro finance (investment and corporate finance), each accounting for 1/3.
Second, Zhongnan University of Economics and Law, a postgraduate course in finance.
1, initial subject:
(1)101ideological and political theory?
②20 1 English 1, Russian 202, Japanese 203.
③303 Mathematics III?
④806 Economics (Macro and Micro)
2. Second interview: 1026 Finance
Extended data:
Finance is an applied economic discipline differentiated from economics. It focuses on the economic activities of money and monetary funds, and specifically studies how individuals, institutions and governments acquire, spend and manage financial assets such as funds.
Finance majors train professionals who have theoretical knowledge and business skills in finance and can engage in related work in economic management departments and enterprises such as banks, securities, investment and insurance.
Overview of financial theory
Modern modern portfolio theory (MPT)
1952, Kyle M. Markowit, an American economist, first applied the two mathematical concepts of mean and variance of portfolio returns in his academic paper "Asset Selection: Effective Diversification", which defined investor preference mathematically and explained the principle of investment diversification mathematically.
This paper systematically expounds the problem of portfolio selection, which marks the beginning of modern modern portfolio theory (MPT).
Efficient market hypothesis (EMH)
1965, eugene fama, a professor of finance at the University of Chicago, published a paper entitled "Price Behavior in the Stock Market", which deepened the theory of 1970 and put forward the Efficient Market Hypothesis (EMH).
The efficient market hypothesis has a questionable premise, that is, investors who participate in the market are rational enough to respond reasonably to all market information quickly.
According to this theory, in the stock market with sound laws, good functions, high transparency and full competition, all valuable information has been timely, accurately and fully reflected in the stock price trend, including the current and future values of enterprises. Unless there is market manipulation, investors cannot obtain excess profits above the market average by analyzing the previous price.
behavioral finance
From 65438 to 0979, Daniel Kahneman, a professor of psychology at Princeton University, published an article entitled "Expectation Theory: Decision Analysis in Risk State", which established the psychological theory of human risk decision-making process and became a milestone in the development history of behavioral finance.
Behavioral finance is a comprehensive theory combining finance, psychology and anthropology, trying to reveal the irrational behavior and decision-making rules of financial markets.
According to this theory, the stock price is not only determined by the intrinsic value of the enterprise, but also influenced by the behavior of investors to a great extent, that is, the psychology and behavior of investors have great influence on the price decision and its changes in the securities market. It is a theory corresponding to the efficient market hypothesis, and its main content can be divided into two parts: arbitrage restriction and psychology.
Generally speaking, by 1980, the construction of classical investment theory has been basically completed. After that, scholars all over the world only did some repair and improvement work. For example, further research on the factors affecting the return rate of securities, empirical and theoretical analysis on the "heterogeneity" of various markets, and revision of option pricing assumptions.
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