Prerequisites for Module
None in addition to SCQF11 entry requirement or equivalent.
Corequisite Modules
None.
Precluded Modules
None.
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;
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| 2. |
Analyse the structure of global derivatives markets;
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| 3. |
Assess the value of derivative instruments by applying various pricing models;
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| 4. |
Apply derivatives to hedge, speculate and arbitrage and critically evaluate the risk and benefits of such application;
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| 5. |
Critically evaluate investments in commodities, real estate, investment companies, hedge funds and private equity.
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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.
Indicative Student Workload
Contact Hours
| Full Time | Part Time | Assessments
| 4 | 4 | Lectures
| 24 | 24 | Tutorials
| 12 | 12 |
Directed Study
| | |
| 54 | 54 |
Private Study
| | |
| 56 | 56 |
Mode of Delivery
This module will be delivered through lectures & tutorials.
Assessment Plan
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Learning Outcomes Assessed
| | Component 1 | 1,2,3,4
| | Component 2 | 1,3,4,5
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Component1: Mid-Semester Test
Component2: Final Exam
Indicative Bibliography
| 1. | BAKER, H.K. and FILBECK, G., 2013. <I>Alternative investments – instruments, performance, benchmarks and strategies.</I> New Jersey: John Wiley & Sons, Inc.
| | 2. | CHAMBERS, D.R., BLACK, K.H. and LACEY,N.J. 2018. <I>Alternative investments: a primer for investment professionals.</I> Charlottesville(VA): CFA Institute Research Foundation.
| | 3. | GOTTESMAN, A., 2016. <I> Derivatives essentials: an introduction to forwards, futures, options and swaps </I>. New Jersey: John Wiley & Sons, Inc.
| | 4. | HULL, J.C., 2021. <I> Options, futures and other derivatives</I>. 11th ed. London: Pearson.
| | 5. | SOKOLOWSKA, E., 2016. <I>The principles of alternative investments management: a study of the global market.</I> Berlin: Springer.
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