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Personal Competence
  • listen carefully, read and repeat, practice until they understand the logic and mathematics behind models.
  • work together and motivate students who tend to give up as a reaction to the difficulty of mathematical problems.
  • take responsibility and organize/explain solutions to others who have problems and tend to give up.
Social Competence
  • understand and critically discuss the arguments of fellow students.
  • work together in small groups to solve assignments and small examples discussed in class.
  • evaluate the solutions of fellow students; explain carefully why they might be right or wrong.
  • understand the flaws and problems of fellow students, reaction without offense.
  • react to other opinions and defend their solution without being offended.
Methodological Competence
  • know the requirements for the basic models of portfolio optimization and market equilibrium theory.
  • understand the implications and flaws of these models.
  • apply these models in changing market conditions.
  • find and use the model needed in a specific situation/setting.
  • apply the models in individual assignments and in a group business game.
  • evaluate outcomes and discuss them critically.
  • understand the applicability and validity of the different models.
  • evaluate models and decide upon which of the models fits their needs best.
Professional Competence
  • know the basic asset classes and their respective financial instruments.
  • Know the difference between strategical and tactical asset allocation.
  • list the requirements and repeat the basic concepts of Mean-Variance Theory.
  • know the difference between Sharpe-Ratio and Information-Ratio
  • list the requirements and how to derive the Capital Asset Pricing Model (CAPM).
  • Know how to extend the Single-index-Model to Multi-Factor Models.
  • know the concepts of Arbitrage and how to derive the resulting model of Arbitrage Pricing Theory (APT).
  • understand the basic financial instruments and their pricing.
  • describe the optimal investment process.
  • understand portfolio statistics and underlying statistical concepts.
  • explain the difference between risky and risk-free assets.
  • describe the outcomes of portfolio theory in a risk-return diagram.
  • understand the concept of risk, its decomposition into unsystematic and systematic risk, and the effects of (naïve) diversification.
  • understand the concept of beta in the Single-Index Model.
  • understand the concept of beta and the market risk-premium in context of the Capital Asset Pricing Model.
  • understand the concept of beta and factor portfolios in the Multi-Factor-Model.
  • understand the concept of arbitrage.
  • understand why APT is a much more general concept of market equilibrium than CAPM.
  • understand the working and pricing of fixed income securities.
  • understand the term structure of interest rates and their influence on the prices of fixed income securities.
  • understand the implications of the Efficient Markets Hypothesis on financial markets.
  • calculate the risk and return of financial instruments based on observable market values.
  • calculate the Minimum-Variance-Portfolio.
  • calculate the optimal risky portfolio.
  • calculate the idiosyncratic and the market-specific risk of a portfolio.
  • calculate an optimal portfolio in the context of Single-Index-Models.
  • calculate the Security Market Line in the CAPM and derive arbitrage opportunities thereon.
  • calculate bond yields, duration and other measures of fixed income securities and fixed income portfolios.
  • know how to design an event study to test and identify flaws of the Efficient Market Hypothesis.
  • perform financial statement analysis.
  • estimate Index-Models, and how to derive an optimal portfolio in this context.
  • analyze financial instruments in the common context of Mean-Variance Theory.
  • understand the Two-Fund Separation Theorem and derive the Capital Market Line.
  • find arbitrage opportunities.
  • relate different concepts of market equilibrium.
  • identify and exploit arbitrage opportunities.
  • identify the efficiency of financial markets.
  • combine different assets in an optimal portfolio.
  • relate the concept of the risk-return tradeoff to the optimal allocation of assets.
  • relate the concept of the Efficient Market Theory to observed market conditions.
  • evaluate the different models in the context of changing market conditions.
  • decide upon investment opportunities by evaluating any type of equity and fixed income securities.
  • evaluate equity and fixed income instruments.
  • evaluate optimal allocations of assets in the Markowitz context.
Personal Competence
  • repeat the contents of lectures and exercises in a self-organized way
  • assess their own learning progress during lectures
  • identify their own strengths and weaknesses
  • tolerate different opinions and working styles
  • listen carefully, read and repeat, practice until they understand the logic and mathematics behind models
  • work together and motivate other students who tend to give up as a reaction to the difficulty of mathematical problems
Social Competence
  • pitch solutions to fellow students
  • argue in favor of and against candidate solutions
  • defend their stance in discussions
  • understand and critically discuss the arguments of fellow students.
Methodological Competence
  • select and apply methods for identifying risks
  • select and apply methods for measuring risks
  • select and apply methods for managing risks
  • devise suitable hedging strategies using derivatives
  • select methods for risk communication
  • know methods in decision theory
  • know key concepts of experimental research approaches to test market and trader behavior
  • use methods and models on unknown decision situations.
  • calculate optimal solutions and equilibria
  • compare different methods for measuring and controlling risk and uncertainty in decision processes
  • evaluate decision methods in mini cases and find appropriate models for solving typical problems
  • are able to identify Nash Equilibria in simple Prisoner's Dilemma settings
Social Competence
  • hören dem Dozenten sowie ihren Kommilitonen aufmerksam zu und bringen sich aktiv in die Vorlesung ein (z.B. bei der Wiederholung und Diskussion der Vorlesungsinhalte)
Methodological Competence
  • geben die Inhalte von Übungsaufgaben aus den Bereichen Beschaffung, Produktion und Logistik nachvollziehbar wieder (z.B. Beschreibung der Ausgangssituation und Problemstellung)
  • erörtern die behandelten Aufgabenstellungen vor dem Hintergrund der in der Vorlesung behandelten Konzepte, Modelle und Methoden (z.B. Diskussion der Einsatz- und Leistungsfähigkeit verschiedener mathematischer Modelle)
  • wenden die in der Vorlesung behandelten Methoden zur Lösung der Übungsaufgaben zielorientiert und korrekt an (z.B. einfache, doppelte, dreifache exponentielle Glättung zur Nachfrageprognose in Abhängigkeit des Nachfrageverlaufs)
  • identifizieren Verbesserungspotenziale in ihren Lösungsansätzen (z.B. durch Evaluation der Prognosequalität oder Kalkulation der Produktions- und Transportkosten)
  • entwickeln und evaluieren alternative Lösungsstrategien zur Planung und Steuerung der in den Übungsaufgaben behandelten Leistungsprozesse (z.B. qualitative Verfahren zur Nachfrageprognose, alternative Kriterien zur Standortauswahl)
  • bewerten die entwickelten Lösungen hinsichtlich ihrer Vorteilhaftigkeit und Aussagekraft (z.B. Anwendbarkeit, Klarheit, Ergebnisqualität und Aufwand)
Professional Competence
  • kennen die wichtigsten Begriffe und Konzepte in den behandelten Funktionsbereichen
  • beherrschen grundlegende Modelle, Methoden und Heuristiken in der Beschaffung, Produktion und Logistik
  • lösen einfache Aufgabenstellungen zum Operations Management durch Anwendung dieser Methoden (z.B. Zeitreihenanalysen zur Nachfrageprognose, dynamische Programmierung zur Losgrössenoptimierung und Branch-and-Bound zur Standortplanung)
  • unterscheiden die behandelten Methoden anhand verschiedener Kriterien und identifizieren zur Lösung einfacher Aufgabenstellungen geeignete Ansätze (z.B. durch Bewertung der historischen Daten bei der Nachfrageprognose oder der geographischen Gegebenheiten bei der Standortplanung)
  • kombinieren verschiedene Ansätze aus den behandelten Leistungsbereichen zur Lösung einfacher Aufgabenstellungen (z.B. Nachfrageprognosen als Grundlage der Produktions- und Standortplanung)
  • beurteilen die Qualität der entwickelten Lösungen hinsichtlich ihrer Vorteilhaftigkeit und Aussagekraft (z.B. Prognosefehler bei der Nachfrageprognose, Lager- und Rüstkosten in der Produktionsplanung, Transportkosten in der Standortplanung)
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