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 +=====Course unit: Finance =====
 +==== Course metadata ====
 +  * Title in French: Finance
 +  * Course code: tba
 +  * ECTS credits: 3
 +  * Teaching hours: 72h
 +  * Type: advanced course
 +  * Language of instruction: English
 +  * Coordinator: tba
 +  * Instructor(s): Grégoire Hug (WeeFin), Bolanjinva Randrianarizafy (Natixis), Julien Belon (Arx Corporate Finance), Vincent Bonnamy (La Banque Postal Asset Management)
 +  * //Last update 24/03/2021 by C. Pouet//
 +
 +==== Brief description ====
 +This course is taught by highly skilled professionals in finance.
 +
 +This course unit is divided into three parts:
 +  * ** Portfolio management ** (24 hours) taught by Grégoire Hug.
 +  * ** Credit risk ** (24 hours) taught by Bolanjinva Randrianarizafy: this part is dedicated to credit risk and its role in banking regulation.
 +  * **Applied finance ** (24 hours) taught by Julien Belon and Vincent Bonnamy: this part is about the theoretical aspects of corporate and market finance applied in real life. 
 +
 +==== Learning outcomes ====
 +
 +  * Understand the similarities in the concepts of market and corporate finance
 +  * Understand how finance products can be used to manage risk
 +  * Know how to organize an investment process
 +  * Know how to evaluate and to value a company
 +  * Understand the definition, measurement and pricing of credit risk
 +  * Know how banks are regulated
 +  * Know the various jobs of finance
 +
 +
 +==== Course content ====
 +
 +
 +=== Portfolio management ===
 +
 +  - Introduction to portfolio management
 +  - Equity Investing and investment process
 +  - Fixed Income Investing - basics
 +  - Fixed Income Investing - advanced
 +  - Alternative asset classes and Performance Measurement 
 +  - Asset management trends 
 +  - Project: Portfolio construction
 +
 +=== Credit risk ====
 +  - Introduction: bonds and OTC transactions
 +  - Modeling defaults: structural models and ratings
 +  - Structured financing: plain-vanilla, asset financing, securitization etc.
 +  - Banking regulation on credit risk
 +
 +=== Applied finance ===
 +  - Applied corporate finance – From startup to IPO… and LBO
 +    * Introduction / Presentation 
 +    * Application areas of 
 +    * Accounting Basic Methods
 +    *  Valuation methods
 +    *  We know how to value a company. Now what? Different types of operation
 +    *  Introduction to Fintech and start-up ecosystem
 +  - Applied market finance – Options: Pricing, Hedging & Risk Management
 +    *  Market finance: players and products
 +    * Future and forward: pricing & hedging
 +    * Options: replication and pricing
 +    * Sensitivity of options: the greeks
 +    * Volatility and stress tests
 +
 +==== Bibliography ====
 +Check the availability of the books below at [[https://documentation.centrale-marseille.fr/|Centrale Méditerranée library]].
 +  - Portfolio management
 +    * Roland Portait, Patrice Poncet (2014). Market Finance.
 +    * Franck J. Fabozzi (2012). The Handbook of Fixed Income Securities.
 +  - Credit risk
 +    * Gourieroux C. and Tiomo, A. (2007) Risque de crédit : une approche avancée, Economica.
 +    * Merton R. (1998) Continuous time finance, Blackwell Publishers.
 +    * Bruyere R., Cont R., Fery L., Jaeck C. and Spitz T.  (2005). Credit derivatives, Wiley.
 +    * Roncalli T. (2016). Risk Management & Financial Regulation ([[http://thierry-roncalli.com|website]])
 +  - Applied finance
 +    * Vernimmen, P. (2021). Finance d’entreprise. Dalloz.
 +    * Hull, J. (2018). Options, Futures, and Other Derivatives, 10th Edition. Pearson 
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