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Asset Pricing Theory/Capital Market Theory
(dt. Asset Pricing Theory/Capital Market Theory)

Level, degree of commitment Specialization module, compulsory elective module
Forms of teaching and learning,
workload		 Zwei lectureen (4 SWS),
(attendance: 45 hours, preparation and follow-up: 67 hours, exam preparation: 68 hours)
Credit points,
formal requirements		 6 CP
Course requirement(s): Protocol of a guest lecture on Accounting and Finance (1-2 pages)
Examination type: Written examination. IMPORTANT: This module is offered by FB02; the exam can only be retaken twice.
Language,
Grading		 English,
The grading is done with 0 to 15 points according to the examination regulations for the degree program M.Sc. Business Administration.
Duration,
frequency		 One semester,
each winter semester
Person in charge of the module's outline Prof. Dr. Bernhard Nietert

Contents

'- General valuation theory (arbitrage theory, law of one price and benefit-oriented valuation)

  • Valuation of derivatives
  • Interest rate structure theory
  • Special aspects of valuation (CAPM as a special case of benefit-oriented valuation and APT, company valuation, real options)
  • Risk and risk preferences
  • Portfolio selection theory (basics and extensions; ESG portfolio selection)
  • CAPM (basic form and extensions, ESG-CAPM)

Qualification Goals

After completing this module, students will be able to

  • apply techniques for decision-making under risk and for evaluating risky cash flows and
  • question and further develop valuation and investment techniques from an economic perspective.

Prerequisites

None.


Applicability

Module imported from M.Sc. Business Administration.

When studying M.Sc. Business Mathematics, this module can be attended in the study area Free Compulsory Elective Modules.

The module is assigned to the focus area Accounting and Finance. Further information on eligibility can be found in the description of the study area.


Recommended Reading

(not specified)



Please note:

This page describes a module according to the latest valid module guide in Winter semester 2025/26. Most rules valid for a module are not covered by the examination regulations and can therefore be updated on a semesterly basis. The following versions are available in the online module guide:

The module guide contains all modules, independent of the current event offer. Please compare the current course catalogue in Marvin.

The information in this online module guide was created automatically. Legally binding is only the information in the examination regulations (Prüfungsordnung). If you notice any discrepancies or errors, we would be grateful for any advice.