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MODULE DESCRIPTOR
Module Title
Alternative Investments
Reference BSM704 Version 3
Created February 2017 SCQF Level SCQF 11
Approved June 2013 SCQF Points 15
Amended August 2017 ECTS Points 7.5

Aims of Module
This module aims to equip students with the knowledge and skills to critically evaluate various alternative investment products.

Learning Outcomes for Module
On completion of this module, students are expected to be able to:
1 Explain the characteristics of forwards, futures, options and swaps.
2 Analyse the structure of global derivatives markets.
3 Assess the value of derivative instruments by applying various pricing models.
4 Apply derivatives to hedge, speculate and arbitrage and critically evaluate the risk and benefits of such application.
5 Critically evaluate investments in commodities, real estate, investment companies, hedge funds and private equity.

Indicative Module Content
An Overview of Alternative Investment Products; The Structure of Global Forwards, Futures, Options and Swaps Markets; Types of Forwards, Futures, Options and Swaps; Price Forwards, Futures, Options and Swaps; Apply Derivatives to Speculate, Hedge and Arbitrage; Evaluate Investments in Commodities, Real Estate, Investment Companies, Hedge Funds and Private Equity.

Module Delivery
This module will be delivered through lectures & tutorials.

Indicative Student Workload Full Time Part Time
Contact Hours 45 N/A
Non-Contact Hours 105 N/A
Placement/Work-Based Learning Experience [Notional] Hours N/A N/A
TOTAL 150 N/A
Actual Placement hours for professional, statutory or regulatory body    

ASSESSMENT PLAN
If a major/minor model is used and box is ticked, % weightings below are indicative only.
Component 1
Type: Examination Weighting: 30% Outcomes Assessed: 1, 2, 3, 4
Description: Closed book class test
Component 2
Type: Examination Weighting: 70% Outcomes Assessed: 1, 3, 4, 5
Description: Closed book exam

MODULE PERFORMANCE DESCRIPTOR
Explanatory Text
The Module is assessed by two components: C1 - Examination - 30% weighting. C2 - Examination - 70% weighting. Module Pass Mark = Grade D (40%)
Module Grade Minimum Requirements to achieve Module Grade:
A At least 70% on weighted aggregate and at least 35% in each component
B At least 60% on weighted aggregate and at least 35% in each component
C At least 50% on weighted aggregate and at least 35% in each component
D At least 40% on weighted aggregate and at least 35% in each component
E At least 35% on weighted aggregate
F Less than 35% on weighted aggregate
NS Non-submission of work by published deadline or non-attendance for examination

Module Requirements
Prerequisites for Module None in addition to SCQF11 entry requirement or equivalent.
Corequisites for module None.
Precluded Modules None.

INDICATIVE BIBLIOGRAPHY
1 BAKER, H.K. and FILBECK, G., 2013. Alternative investments – instruments, performance, benchmarks and strategies. New Jersey: John Wiley & Sons, Inc.
2 CHAMBERS, D.R., BLACK, K.H. and LACEY,N.J. 2018. Alternative investments: a primer for investment professionals. Charlottesville(VA): CFA Institute Research Foundation.
3 GOTTESMAN, A., 2016. Derivatives essentials: an introduction to forwards, futures, options and swaps . New Jersey: John Wiley & Sons, Inc.
4 HULL, J.C., 2021. Options, futures and other derivatives. 11th ed. London: Pearson.
5 SOKOLOWSKA, E., 2016. The principles of alternative investments management: a study of the global market. Berlin: Springer.

Robert Gordon University, Garthdee House, Aberdeen, AB10 7QB, Scotland, UK: a Scottish charity, registration No. SC013781