MSFS-518 Investment in Emerging Markets
Spring for 2017-2018
This course will offer a unique investors point of view of Emerging Markets emphasizing different characteristics of frontier, emerging and developed country indices. Analyzing asset allocation decisions within Emerging Market countries will be a key theme of this course. Economic theory and accompanying evidence will be extensively employed to identify and explain sources of relative returns between Emerging Market countries. Relative performance trends within a country, at sector or individual stock level, will also be discussed in detail. Investment vehicles available to today’s global investors will be presented with real live examples including ETFs, Closed End Funds, ADRs or investments in locally listed stocks/bond and OTC derivative instruments.
Limits to market efficiency, restrictive or unpredictable regulatory frameworks, transaction costs and ownership limitations still create headwinds to investors in emerging markets, but improvements in fiscal & monetary policies and relative political stability offer unique investment opportunities for the next decade or the next century for some strong believers of Emerging Markets story. While keeping the main focus on rationale of portfolio investments in emerging markets, the course will also cover theoretical foundations of economic growth, business cycles, and economic policy in Emerging Market economies.
Recommended to: Public officers covering international markets (Treasury, FED, State Department etc..), Consultants, Country Analysts, Portfolio Managers, Traders, Asset Allocators and to anyone who is interested in international finance with Emerging Markets focus.
Each participant of the course will be assigned to one emerging market country as a Country Analyst. Country Analysts are responsible to closely follow macroeconomic, political and major market driven events of the country they are covering. Active participation in information sharing between country analysts via group e-mails is required during the course of this class. At the end of the semester, analysts are expected to be able to explain sources of relative performance of the country they covered and also show ability to provide actionable investment ideas utilizing theoretical and practical tools they acquired during the semester.
Other academic years
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