《行为金融学》课程教学大纲英文版.docx

Syllabus of Behavioral FinanceCourse Name： Behavioral FinanceCourse Code：Credits： 2Total Credit Hours： 32Lecture Hours： 32Experiment Hours： 0Programming Hours： 0Practice Hours： 0Total Number of Experimental (Programming) Projects 0Where, Compulsory ( 0 ), Optional ( 0 ).School： 08School of BusinessTarget Major： Finance, International Economy and Trade, Business AdministrationI、Course Nature & AimsBehavioral Financeis an independent course for students majoring in economics and finance, and an enlightening course for students to conduct in-depth research in the field of finance. This course explores the deficiencies and defects of mainstream financial theories and the role and status of behavioral finance in the entire financial system through the study of investors* actual decision-making behavior. This paper mainly investigates the action mechanism and behavior investment strategy of behavior deviation caused by psychological factors in the actual decision-making process of investors. Through the study of this course, students can analyze the risk decision-making behavior from the perspective of investors' psychology and behavior, and train students to apply relevant knowledge of behavioral finance theory to investment practice.II、Course Objectives1 . Moral Education and Character Cultivation.Through the curriculum learning behavioral finance investment theory and practice skills, have a comprehensive knowledge of behavioral finance knowledge. To understand the interaction between participants and regulators in the process of financial market investment, to understand how participants think and how to overcome the obstacles encountered, and to help students establish scientific thinking methods and the spirit of facing challenges in the future financial practice. From the perspective of behavioral finance's improvement of China's capital market system and the improvement of supervision ability, this paper takes typical cases as the carrier, integrates the education of socialist core values into the course contents and all links of the whole teaching process, highlights value guidance, knowledge imparts and ability training, helps students correctly understand historical laws, investment psychological activities, accurately grasp basic national conditions and securities market system, grasps scientific world view and methodology, and promotes the establishment of correct world view and values.2 .Course ObjectivesbehavioralfinanceObjective 2(Index 2,4,6,9)Behavioral financial anomalies, data analysis and software application, behavioral financial investment strategy portfolio analysis, etc202040Objective 3 (Index2,4,5,6,9)Disposal effect, overreaction, over trading, behavioral financial50(50)50Total10202050(50)100VID、Course ResourcesTextbooks：Rao yulei, Sheng hu. Behavioral finance M. Beijing: Machinery Industry Press, 2018.Bibliography：1. Li xindan. Behavioral finance theory M. Shanghai: Shanghai San Lian publishing house, 2004.2. Cui wei. Case of behavioral finance M. Beijing: China Development Press, 2013.Reading Materials：1. Paper on behavioral finance in journal of economic research, journal of financial researchClassic papers in relevant behavioral finance fields abroadIX、NotesPrerequisites: Finance, Securities InvestmentFollow-up Courses: Fixed Income SecuritiesContents and Requirements of Students* Self-study:Bilingual Teaching or Not: NotRequirements and Proportion of Bilingual Teaching: NoneDiscipline and Considerations of Practice Session: please fill in this part if there is practice session, and "no practice session" if there is no practice session.Notes:1. Classroom discussion: through classroom discussion, students express their views and inspire each other, consolidate acquired knowledge in multiple information transmission processes, or solve controversial problems that are difficult for students to understand directly, so as to acquire new knowledge. Each student will be required to participate actively in class discussions, which will be used as a criterion fbr course performance. The requirements for class discussion are as follows:(1) make class notes on knowledge points and difficulties;frequently use library and database resources to consult relevant literature;(2) actively explore scientific issues;speak up.2. Group workStudents will be divided into different groups. Each group will work together to complete 1-2 group assignments, form a research report, and give everyone a PPT presentation in class. Achievements include report preparation and report presentation. The submission time of the group work is shown in the course schedule. No late submission is allowed for each assignment. Group work requirements are as follows:(1) A group of 5-6 students shall be formed. Each student in each group shall actively participate in group work.(2) Each group should select the topic as early as possible and set clear research objectives.(3) Each group should work independently.(4) Write and present research reports.(5) Research report preparation contents include: (1) title;(2) Group member information; (3) directory; (4) body content: a introduction, b economic theoretical basis, c econometric model design, d data sources, e model estimation, test, modification and prediction, f conclusions and policy recommendations; (5) references.(6) Research report format requirements: no less than 2000 words. Font: Chinese song style, English and the number Times new Roman, the font size is No. 5 Line spacing 1.25 times; Center page number; The margins are 2cm above and below, and the binding line is 0.5cm to the left. All tables require a three-line table, with the upper and lower edges thick, and the separator between the header and the contents thick by 3/4. Each table should have table order and table questions, table order and table questions should be written in the top center of the table, table order after a space to write table questions. The table allows the next page to be written, the table can be omitted, the table should be repeated, and in the top right write "continued table". Table order arrangement is the same asformula number rule. For example, the serial number of the first table in part 2 is "table 2-1", and the font size of the table questions and contents is No. 5.(7) Requirements for the presentation of research report: all students of each group shall participate in the presentation. The research report shall be presented fbr 10 minutes in each group, and the research background, theoretical basis, research methods and results of the case shall be introduced. Speak at a moderate speed and with clear logic.3. Other requirements: as a student in business school, I hope to follow:(1) Be prepared to learn and actively participate (complete assigned reading and learning materials);Complete academic activities in good faith (avoid all academic misconduct);(2) Attend class on time. If you are late, enter the classroom as quietly as possible.(3) If you know in advance that you will not be able to attend class, send an email to the teacher to explain the reason and provide a note for the instructor's approval;(4) In class, avoid using anything not related to study (newspaper) or technology (Internet, playing games, typing)Telephone), I hope my cell phone should be turned off as much as possible in class.(5) Listen to and respect the views of students and teachers, and do not speak when others speak;(6) Raise your hand when you wish to speak. Instead of being emotional, refute the other person with valid reasons and research with an open mind to students' challenges;(7) When sending an email to a teacher, write with business rules, in a professional and respectful manner (in formal honorific, check)Check for spelling and grammar mistakes, and avoid using slang, colloquial and short sentence forms.(8) We hope to provide feedback on all the courses (our improvement requires your participation).Through the study of this course, students* qualities, skills, knowledge and abilities obtained are as follows：Objective 1. To master solid financial basic theory and basic knowledge (Corresponding to Chapter 1,2,pporting for graduation requirements index 2,3,4,5)Objective 2. To master modern financial analysis tools and the solution actual problem ability (Corresponding to Chapter 4,5,6,7, supporting for graduation requirements index 2,3,5)Objective 3. To grasp the forefront of financial theory and development trend (Corresponding to Chapter 7,8,9 , supporting for graduation requirements index 5,6,9)3. Supporting for Graduation RequirementsThe graduation requirements supported by course objectives are mainly reflected in the graduation requirements indices 2,4,5,6,9, as follows:Supporting for Graduation RequirementsCourseObjectivesGraduationRequirementsIndices and Contents Supporting for GraduationRequirementsTeaching TopicsLevel ofSupportIndicesContentsObjective 12. Comprehensiveknowledge abilityIndex2.1:2.2:2.3:Master solid basic financial theory and basic knowledge; For economic business, an appropriate analytical model can be established, and the model can be reasoned and solved; To understand the concept of finance and their embodiment in the field of concrete, to analyze the basic financial business and processing.Chapter 1,2,3HObjective 24,Practical abilityIndex4.1:4.2:Flexible use of professional knowledge in financial practice; Be able to screen, sort and process all kinds of domestic and foreign financial information, so as to provide countermeasures and Suggestions for the government, enterprises, financial institutions and other departments to solve practical problemsChapter3,4,5,6,7HObjective 35.Ability to apply financial analysis toolsIndex5.1:5.2:Skilled use of computer for business work;Skilled use of modern financial measurement technology and data processing methods for professional data processing, design modelChapter5,6,7,8,9Hand analysis;Objective 46. Lifelong learningabilityIndex6.1:6.2:6.3:Be able to learn actively, have initiative and initiative in the learning process, and master effective learning methods; Good writing ability, able to skillfully use the theoretical and practical knowledge; Writing papers, research reports and other forms of materials independently or under the guidance of the instructorChapter7 > 8、9MObjective 59. Investment and financing decision-making abilityIndex9.1:9.2:Master the basic theories and methods of financial investment and financing decision-making; make investment and financing decision-making and judgment based on the study of securities investment, risk management, risk investment and other coursesCh叩ter4、5、6、7、8、9Hm、Basic Course ContentChapter 1 Reform of behavioral finance (supporting course objectives *1 *)The history and development of behavioral finance1.1 The foundation and core contents of relevant disciplines of behavioral financeThe theoretical challenge of behavioral finance to standard financeTeaching Requirements: Through the study of the discipline development and historical context of the basic courses of behavioral finance, students are required to master the theoretical and practical differences between behavioral finance and traditional finance, understand the background and development course of behavioral finance, be familiar with the core contents of behavioral finance and its differences from traditional finance, understand the main focus areas and core of behavioral finance, identify the main context and different research viewpoints of behavioral finance, understand certain basic knowledge of behavioral finance and psychology, and master and have the theoretical basis and practical operation ability of traditional finance and investment. And initially have the ability to understand the study of behavioral finance.Key Points： The challenge of behavioral finance to traditional financeDifflcult Points： Differences between behavioral finance and traditional financeChapter 2 The efficient market hypothesis and its defects (supporting course objectives *1, 2,3*)The origin and development of standard finance2.1 The efficient market hypothesis and its skepticismThe theoretical flaws of the efficient market hypothesisTeaching Requirements: Through the study of standard finance and efficient market hypothesis theory,students are required to distinguish and identify the deficiencies and defects of the theory of efficient market hypothesis. Through the analysis of market practice, the performance of market reaction and other specific cases and the presentation of data, students are required to master the doubts of the theory of efficient market hypothesis and standard finance in practice, understand the supplement and modification of behavioral finance to the efficient market hypothesis, be familiar with the defects of the theory of efficient market hypothesis, understand and explain the deficiencies of the theory of efficient market hypothesis, and master basic identification methods and strategic analysis ability.Key Points： Defects of the efficient market hypothesisDifficult Points： Market reaction in practiceChapter 3 Anomalies in the securities market (supporting course objectives * 1,2,3*)Equity premium puzzle3.1 Momentum effect and reversal effectOther visionsTeaching Requirements:Based on the securities market in different visions of learning, to be able to understand and grasp about the equity premium, the momentum effect and reversal effect, closed-end fund discount, excessive reaction and insufficiency, the scale effect, the carrying value than effect, calendar effect, and other market vision, vision and understand the market and the likely cause of the performance, on this basis, through the practice of a specific vision, paper to simulate and study, familiar with basic skills about vision analysis and data processing, a software application the basic technology of excess earnings and market analysis and practical ability.Key Points： Different market anomaliesDifflcult Points： Causes and manifestations of the visionChapter 4 Expected utility theory, cognitive process bias (supporting course objectives *1, 2,3*)Challenges of expected utility theory and psychological experiment4.1 Deviations in information processingBeuristics and framing dependency biasesTeaching Requirements: Based on expected utility theory and study to the challenge of psychological experiments, to be able to distinguish and clear the deficiency of expected utility theory, the psychological experiment link to clear possible deviation in practice, does not meet the consistency of the expected utilit