Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| DERIVATIVE MARKETS | - | Spring Semester | 3+0 | 3 | 6 |
| Course Program |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | Turkish |
| Course Level | Second Cycle (Master's Degree) |
| Course Type | Elective |
| Course Coordinator | Prof.Dr. Hasan DİNÇER |
| Name of Lecturer(s) | |
| Assistant(s) | |
| Aim | To teach derivatives that are financial risk protection elements. |
| Course Content | This course contains; Futures Markets -Spot Markets,Risk Management and Futures Markets,Development of Futures Markets in Risk Management,Futures Market Functions,Basic Strategies in Derivatives Market,Forward Contracts,Futures Contracts,Option Market: Basic Concepts-Option Pricing,Option Strategies,Advanced Option Strategies I,Advanced Option Strategies II,Swap Agreements and Methods,The Development and Functioning of Futures Market in Turkey,The Current Situation of the Future Markets in the World. |
| Dersin Öğrenme Kazanımları | Teaching Methods | Assessment Methods |
| 1. Evaluates derivate markets. | 16, 9 | A, E |
| 1.1. Explains the basic function of futures markets. | 16, 9 | A, E |
| 1.2. Explains the differences between futures markets and spot markets. | 16, 9 | A, E |
| 1.3. Explains over the counter and organize markets of the derivatives | 16, 9 | A, E |
| 2. Analyses option strategies. | 16, 9 | A, E |
| 2.1. explains option strategies. | 16, 9 | A, E |
| 2.2. Interprets on which strategy to use. | 16, 9 | A, E |
| 3. İnterprets financial risk and hedging transactions in futures markets. | 16, 9 | A, E |
| 3.1. Explains the elements of futures contracts. | 16, 9 | A, E |
| 3.2. Interprets hedging transactions with futures contracts. | 16, 9 | A, E |
| 3.3. Explains the role of futures markets in protecting financial risks. | 16, 9 | A, E |
| 4. Compares the derivatives used in risk management. | 16, 9 | A, E |
| 4.1. Explains forwards contracts. | 16, 9 | A, E |
| 4.2. Explains Futures contracts. | 16, 9 | A, E |
| 4.3. Explains Options contracts. | 16, 9 | A, E |
| 4.4. Explains swaps contracts. | 16, 9 | A, E |
| 5. Evaluates how derivative products are used and how they are used. | 16, 9 | A, E |
| 5.1. Explains the purpose of use of derivative products. | 16, 9 | A, E |
| 5.2. Explains the functioning of derivative products. | 16, 9 | A, E |
| 6. Evaluates pricing models. | 16, 9 | A, E |
| 6.1. Explains pricing models of derivative products. | 16, 9 | A, E |
| 6.2. Calculates prices with the pricing models of derivative products. | 16, 9 | A, E |
| Teaching Methods: | 16: Question - Answer Technique, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam, E: Homework |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | Futures Markets -Spot Markets | Examination of academic studies on the subject. |
| 2 | Risk Management and Futures Markets | Examination of academic studies on the subject. |
| 3 | Development of Futures Markets in Risk Management | Examination of academic studies on the subject. |
| 4 | Futures Market Functions | Examination of academic studies on the subject. |
| 5 | Basic Strategies in Derivatives Market | Examination of academic studies on the subject. |
| 6 | Forward Contracts | Examination of academic studies on the subject. |
| 7 | Futures Contracts | Examination of academic studies on the subject. |
| 8 | Option Market: Basic Concepts-Option Pricing | Examination of academic studies on the subject. |
| 9 | Option Strategies | Examination of academic studies on the subject. |
| 10 | Advanced Option Strategies I | Examination of academic studies on the subject. |
| 11 | Advanced Option Strategies II | Examination of academic studies on the subject. |
| 12 | Swap Agreements and Methods | Examination of academic studies on the subject. |
| 13 | The Development and Functioning of Futures Market in Turkey | Examination of academic studies on the subject. |
| 14 | The Current Situation of the Future Markets in the World | Examination of academic studies on the subject. |
| Resources |
| Yalçın Karatepe, Türev Piyasalar, Siyasal Bilgiler Fakültesi Yayını, 2000. Doç.Dr. Nurgül Chambers, Türev Piyasalar, İstanbul, 1998. |
| Robert W. Kolb, Futures, Options and Swaps, Fouth Edition, Blackwell Publishing, 2003. |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | 1. In light of the current developments in the field of banking and finance, use knowledge about the main sources, process and design which are related to the field. | X | |||||
| 2 | 2.Describe the mathematical and statistical methods of banking and finance. | X | |||||
| 3 | 3. Reach scientific knowledge in the field of banking and finance; evaluate, and use this information to solve macro and micro financial problems. | X | |||||
| 4 | 4. Implement the idea about individual and social problems of banking and finance and in the light of current developments find resolutions. | X | |||||
| 5 | 5. Solve the problems encountered in banking and finance theory and practice by using research methods that specific to field. | X | |||||
| 6 | 6. Carry out an independent study which needs expertise in the field of banking and finance and its sub-disciplines. | X | |||||
| 7 | 7. Develop different perspectives and take responsibility to solve complex issues which require expertise and encountered in the field of banking and finance and its sub-disciplines. | X | |||||
| 8 | 8. Critically evaluate acquired knowledge and skills in the field of banking and finance and its sub-disciplines. | X | |||||
| 9 | 9. Constantly evaluates itself by following the developments in science and technology with the importance of lifelong learning. | X | |||||
| 10 | 10. Mean acquired knowledge in the field of banking and finance and current developments about finance theory and practice to all groups systematically in written or oral form. | X | |||||
| 11 | 11. Critically question concepts and institutions of banking and finance, settled practice of management and norms and when necessary develop and attempt to change them. | X | |||||
| 12 | 12. Use software which in the level required by the field of banking and finance and information and communication technologies in the advanced level. | X | |||||
| 13 | 13. Take into consideration and internalize social, scientific and ethical values in the process of gathering, processing and evaluating information about field of banking and finance and its sub-disciplines. | X | |||||
| 14 | 14. With developing understanding of honesty, justice and ethics are required to be professional in the field, teach around them. | X | |||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 50 | |
| Rate of Final Exam to Success | 50 | |
| Total | 100 | |
| ECTS / Workload Table | ||||||
| Activities | Number of | Duration(Hour) | Total Workload(Hour) | |||
| Course Hours | 14 | 3 | 42 | |||
| Guided Problem Solving | 14 | 3 | 42 | |||
| Resolution of Homework Problems and Submission as a Report | 0 | 0 | 0 | |||
| Term Project | 0 | 0 | 0 | |||
| Presentation of Project / Seminar | 10 | 1 | 10 | |||
| Quiz | 0 | 0 | 0 | |||
| Midterm Exam | 32 | 1 | 32 | |||
| General Exam | 32 | 1 | 32 | |||
| Performance Task, Maintenance Plan | 10 | 1 | 10 | |||
| Total Workload(Hour) | 168 | |||||
| Dersin AKTS Kredisi = Toplam İş Yükü (Saat)/30*=(168/30) | 6 | |||||
| ECTS of the course: 30 hours of work is counted as 1 ECTS credit. | ||||||
Detail Informations of the Course
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| DERIVATIVE MARKETS | - | Spring Semester | 3+0 | 3 | 6 |
| Course Program |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | Turkish |
| Course Level | Second Cycle (Master's Degree) |
| Course Type | Elective |
| Course Coordinator | Prof.Dr. Hasan DİNÇER |
| Name of Lecturer(s) | |
| Assistant(s) | |
| Aim | To teach derivatives that are financial risk protection elements. |
| Course Content | This course contains; Futures Markets -Spot Markets,Risk Management and Futures Markets,Development of Futures Markets in Risk Management,Futures Market Functions,Basic Strategies in Derivatives Market,Forward Contracts,Futures Contracts,Option Market: Basic Concepts-Option Pricing,Option Strategies,Advanced Option Strategies I,Advanced Option Strategies II,Swap Agreements and Methods,The Development and Functioning of Futures Market in Turkey,The Current Situation of the Future Markets in the World. |
| Dersin Öğrenme Kazanımları | Teaching Methods | Assessment Methods |
| 1. Evaluates derivate markets. | 16, 9 | A, E |
| 1.1. Explains the basic function of futures markets. | 16, 9 | A, E |
| 1.2. Explains the differences between futures markets and spot markets. | 16, 9 | A, E |
| 1.3. Explains over the counter and organize markets of the derivatives | 16, 9 | A, E |
| 2. Analyses option strategies. | 16, 9 | A, E |
| 2.1. explains option strategies. | 16, 9 | A, E |
| 2.2. Interprets on which strategy to use. | 16, 9 | A, E |
| 3. İnterprets financial risk and hedging transactions in futures markets. | 16, 9 | A, E |
| 3.1. Explains the elements of futures contracts. | 16, 9 | A, E |
| 3.2. Interprets hedging transactions with futures contracts. | 16, 9 | A, E |
| 3.3. Explains the role of futures markets in protecting financial risks. | 16, 9 | A, E |
| 4. Compares the derivatives used in risk management. | 16, 9 | A, E |
| 4.1. Explains forwards contracts. | 16, 9 | A, E |
| 4.2. Explains Futures contracts. | 16, 9 | A, E |
| 4.3. Explains Options contracts. | 16, 9 | A, E |
| 4.4. Explains swaps contracts. | 16, 9 | A, E |
| 5. Evaluates how derivative products are used and how they are used. | 16, 9 | A, E |
| 5.1. Explains the purpose of use of derivative products. | 16, 9 | A, E |
| 5.2. Explains the functioning of derivative products. | 16, 9 | A, E |
| 6. Evaluates pricing models. | 16, 9 | A, E |
| 6.1. Explains pricing models of derivative products. | 16, 9 | A, E |
| 6.2. Calculates prices with the pricing models of derivative products. | 16, 9 | A, E |
| Teaching Methods: | 16: Question - Answer Technique, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam, E: Homework |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | Futures Markets -Spot Markets | Examination of academic studies on the subject. |
| 2 | Risk Management and Futures Markets | Examination of academic studies on the subject. |
| 3 | Development of Futures Markets in Risk Management | Examination of academic studies on the subject. |
| 4 | Futures Market Functions | Examination of academic studies on the subject. |
| 5 | Basic Strategies in Derivatives Market | Examination of academic studies on the subject. |
| 6 | Forward Contracts | Examination of academic studies on the subject. |
| 7 | Futures Contracts | Examination of academic studies on the subject. |
| 8 | Option Market: Basic Concepts-Option Pricing | Examination of academic studies on the subject. |
| 9 | Option Strategies | Examination of academic studies on the subject. |
| 10 | Advanced Option Strategies I | Examination of academic studies on the subject. |
| 11 | Advanced Option Strategies II | Examination of academic studies on the subject. |
| 12 | Swap Agreements and Methods | Examination of academic studies on the subject. |
| 13 | The Development and Functioning of Futures Market in Turkey | Examination of academic studies on the subject. |
| 14 | The Current Situation of the Future Markets in the World | Examination of academic studies on the subject. |
| Resources |
| Yalçın Karatepe, Türev Piyasalar, Siyasal Bilgiler Fakültesi Yayını, 2000. Doç.Dr. Nurgül Chambers, Türev Piyasalar, İstanbul, 1998. |
| Robert W. Kolb, Futures, Options and Swaps, Fouth Edition, Blackwell Publishing, 2003. |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | 1. In light of the current developments in the field of banking and finance, use knowledge about the main sources, process and design which are related to the field. | X | |||||
| 2 | 2.Describe the mathematical and statistical methods of banking and finance. | X | |||||
| 3 | 3. Reach scientific knowledge in the field of banking and finance; evaluate, and use this information to solve macro and micro financial problems. | X | |||||
| 4 | 4. Implement the idea about individual and social problems of banking and finance and in the light of current developments find resolutions. | X | |||||
| 5 | 5. Solve the problems encountered in banking and finance theory and practice by using research methods that specific to field. | X | |||||
| 6 | 6. Carry out an independent study which needs expertise in the field of banking and finance and its sub-disciplines. | X | |||||
| 7 | 7. Develop different perspectives and take responsibility to solve complex issues which require expertise and encountered in the field of banking and finance and its sub-disciplines. | X | |||||
| 8 | 8. Critically evaluate acquired knowledge and skills in the field of banking and finance and its sub-disciplines. | X | |||||
| 9 | 9. Constantly evaluates itself by following the developments in science and technology with the importance of lifelong learning. | X | |||||
| 10 | 10. Mean acquired knowledge in the field of banking and finance and current developments about finance theory and practice to all groups systematically in written or oral form. | X | |||||
| 11 | 11. Critically question concepts and institutions of banking and finance, settled practice of management and norms and when necessary develop and attempt to change them. | X | |||||
| 12 | 12. Use software which in the level required by the field of banking and finance and information and communication technologies in the advanced level. | X | |||||
| 13 | 13. Take into consideration and internalize social, scientific and ethical values in the process of gathering, processing and evaluating information about field of banking and finance and its sub-disciplines. | X | |||||
| 14 | 14. With developing understanding of honesty, justice and ethics are required to be professional in the field, teach around them. | X | |||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 50 | |
| Rate of Final Exam to Success | 50 | |
| Total | 100 | |