Teaching

Note that the Portfolio Management and Investment Tools requires taking MBA792A or B, which I teach in mod III. 

Who should take MBA792A/B?

While this is a mandatory class for the concentration, I encourage students from all concentrations to take MBA792(A or B).  They are highly relevant for anyone managing a savings account (including 401K accounts), and can be easily applied to personal finances. Moreover, they provides a deep dive into the most current financial news and macroeconomic environment (Fed decisions, inflation, micro/macro growth, uncertainty) -- whose understanding is relevant for real-estate, marketing, and management. Both classes do not assume prior exposure to financial markets, making them accessible to student of various backgrounds.

Which version should you take?

Both MBA792A and MBA792B tackle the same broad question from different angles: given an investor's specific goals (that investor is you or your client), how should she create an optimal portfolio, made primarily of equities? To address this question, both classes are designed to bring students to the frontier in factor investing and smart beta, widely used in the investment world. This includes an overview of capital markets, principles of efficient capital allocation across assets, and factor investment strategies. The difference between the two courses is the degree of exposure to quantitative exercises. 

MBA792A is aimed at students who wish to conceptually understand equity investment strategies, and be able to assess these strategies qualitatively. This is useful for retail investors, and also for those who have an interest in an industry job. MBA792A assumes little to no prior knowledge: it is structured based on sequential topics, and its assignments follow the “traditional” pen-and-paper exercises.  

MBA792B is geared towards students who wish to know how to implement equity investment strategies using real-world data and assess their value quantitatively. This ``hands-on’’ experience is more intensive, but it is especially useful for students who consider a career in investment management. It requires solid knowledge of excel and regression analysis. MBA792B covers similar topics to MBA792A, but the assignments require extensive usage of data.

MBA792A: Investments I / Capital Markets and Allocation

Spring 2023: Syllabus

Spring 2023: Sample Exam

MBA792B: Investments I  / Capital Markets and Allocation:   Advanced Quantitative Analysis

Spring 2023: Syllabus

Spring 2023: Sample Project

BUSI899-040 (PhD) : Macroeconomics and Asset Pricing

The class covers asset-pricing implications of macroeconomic models. It is intended for doctoral students in finance, economics, and related fields. The course does not assume any prior knowledge in macroeconomic modeling, but it assumes familiarity with consumption-based asset-pricing models. The core of the class focuses on production-based asset-pricing, the study of asset prices in relation to production decisions by firms. In addition to discussing the theoretical derivations and economic mechanisms of a variety of models, we will discuss numerical solution techniques used to solve dynamic stochastic general equilibrium (DSGE) asset-pricing models. In particular, we will focus on perturbation methods via Dynare++, a free stand-alone package that solves stochastic systems of smooth equations.  

Spring 2023: Course Materials

(1) Syllabus: PhD Syllabus

(2) Simple Dynare++ Example: Dynare++ Example

(3) HW1: HW1 - 2023 ;  Solution

(4) HW2: HW2 - 2023 ;  Solution

(5) HW3: HW3 - 2023;  Solution

(6) HW4: HW4 - 2023

(7) Past Prelims: 2021

Here for you!

All students may experience a range of challenges that can interfere with learning, such as strained relationships, increased stress and anxiety, or feeling down. Unaddressed, these challenges have the capacity to reduce the  ability to participate in daily activities, including academic work.

I try to be available for students outside of regular office hours.  If you struggle and seek support, my door is always open to listen in a non-judgmental manner. 

There are other helpful resources available on campus: Counseling and Psychological Services (CAPS), caps@unc.edu; National Crisis Hotlines: Text 741741.