課程目標(Course Objectives)
期望修習本課程的同學瞭解金融市場中固定收益證券的發行、流通、評價、交易策略以及近年來的創新發展與應用。
課程內涵(Course Contents)
影響債券價值與價格的因素中以市場利率最為重要，首先針對債券的利率風險與利率期限結構進行介紹；此外，從債券投資者的角度，說明如何選取適當的投資報酬率進行投資評估，並以風險值的觀念重新闡述個別債券及債券投資組合的利率風險。本課程亦將說明債券在次級市場的各種常見交易商品、交易方式及操作策略。另介紹衡量債券違約的信用風險以及信用風險評級。最後介紹債券商品的創新設計以及資產證券化議題。
Course Objectives
Students who take this course are expected to understand the issuance, circulation, evaluation, and trading strategies of fixed-income securities in the financial market, as well as the innovative developments and applications in recent years.
Course Contents
Among the factors that affect the value and price of bonds, market interest rates are the most important. First, the interest rate risk and interest rate term structure of bonds are introduced. In addition, from the perspective of bond investors, it is explained how to select an appropriate investment rate of return for investment evaluation, and based on The concept of value-at-risk reformulates the interest rate risk of individual bonds and bond portfolios. This course will also explain various common trading products, trading methods and operating strategies of bonds in the secondary market. It also introduces measuring the credit risk of bond default and credit risk rating. Finally, the innovative design of bond products and asset securitization issues are introduced.
薛立言與劉亞秋(2018)，債券市場概論，第4版，華泰文化。
Xue Liyan and Liu Yaqiu (2018), Introduction to the Bond Market, 4th Edition, Huatai Culture.
| 評分項目 Grading Method | 配分比例 Grading percentage | 說明 Description |
|---|---|---|
| 期中考試期中考試 midterm exam |
40 | |
| 期末考試期末考試 final exam |
45 | |
| 出席與課堂參與出席與課堂參與 Attendance and Class Participation |
15 |
