This course will cover the behavioral aspects of financial decision making and personal finance planning. The students shall be introduced to the theoretical, mathematical, and empirical underpinnings of anomalies and biases that investors face in financial markets. The course also focuses the behavioral approach of investment and personal financial planning. Through this course, we do not hope to make you ‘financially literate’ or advise you what to do with your money. Instead, the course will help you explore some of the most common biases and mistakes that we, as individuals, make while dealing with money (or something of that sort). With the help of discussions on related theories, mathematical illustrations, and experimental exercises, participants should be able to become familiar with terminology, techniques and approaches used in behavioralized financial services industry. Most of techniques can also be relevant to traditional financial advisory services, the products and services in the fintech domain, and public policy.
INTENDED AUDIENCE
BTech/BE student with a basic knowledge of Economics and Statistics Students of MBA/MCom/MA (Eco)/BBA/BMS
INDUSTRY SUPPORT
Companies from BFSI (Banking, Financial services & Insurance) sector:Edelweiss Fin. Services Ltd., Barclays India, Yes Bank, CFA Institute, Capital First Ltd., Nomura, and other financial advisory firms, including investment banking companies such as JPMC, DB, etc.
ABOUT THE INSTRUCTOR
As assistant professor at VGSoM, IIT KGP., I offer courses in Corporate Finance, Investment Management, and Management Accounting to UG, PG, and Doctoral level student. I have done BCom. (H), MCom, and PhD in Accounting and Finance area. I also have completed post-doctoral research in behavioral finance and asset pricing. My major research interests are in financial economics (behavioral finance, asset pricing, and economics of derivatives) and individual decision making under risk and uncertainty (prospect theory, risk preferences, irrationality). I do both theoretical and empirical work and am currently also involved in experimental work. The core issues that I have been working on are the study of behavioral dimension of investment decision-making, from both individual and institutional perspectives, and how it affects the asset prices and market mechanism. My research interests are based on the behaviouralized inquiries related to the emerging research area of behavioral finance which draws its ideas from various disciplines including economics, finance, psychology, sociology and so on.
Certification Process
1. Join the course
Learners may pay the applicable fees and enrol to a course on offer in the portal and get access to all of its contents including assignments. Validity of enrolment, which includes access to the videos and other learning material and attempting the assignments, will be mentioned on the course. Learner has to complete the assignments and get the minimum required marks to be eligible for the certification exam within this period.
COURSE ENROLMENT FEE: The Fee for Enrolment is Rs. 2000 + GST
2. Watch Videos+Submit Assignments
After enrolling, learners can watch lectures and learn and follow it up with attempting/answering the assignments given.
3. Get qualified to register for exams
A learner can earn a certificate in the self paced course only by appearing for the online remote proctored exam and to register for this, the learner should get minimum required marks in the assignments as given below:
CRITERIA TO GET A CERTIFICATE
Assignment score = Score more than 50% in at least 6/8 assignments.
Exam score = 50% of the proctored certification exam score out of 100
Only the e-certificate will be made available. Hard copies will not be dispatched.”
4. Register for exams
The certification exam is conducted online with remote proctoring. Once a learner has become eligible to register for the certification exam, they can choose a slot convenient to them from what is available and pay the exam fee. Schedule of available slot dates/timings for these remote-proctored online examinations will be published and made available to the learners.
EXAM FEE: The remote proctoring exam is optional for a fee of Rs.1500 + GST. An additional fee of Rs.1500 will apply for a non-standard time slot.
5. Results and Certification
After the exam, based on the certification criteria of the course, results will be declared and learners will be notified of the same. A link to download the e-certificate will be shared with learners who pass the certification exam.
CERTIFICATE TEMPLATE
Course Details
Week 1 : Introduction to behavioral economics and finance: the concept of expected utility, the vonNeumann Morgenstern framework.
Week 2 : Non-expected utility preferences and its applications in finance.
Week 3 :Beliefs, biases and heuristics in financial markets.
Week 4 :Basics of personal finance, financial planning, and budgeting.
Week 5 :Investment decision making and behavioral finance
Week 6 : Investment strategies for individual investors.
Week 7 :Purchasing decisions, consumer credit and related issues.
Week 8 :Alternative investment and structured finance.
Books and References
1. Behavioral Finance, William Forbes, Wiley, 2009.
2. Behavioral Finance: Psychology, Decision-Making and Markets, L. F. Ackert and R. Deaves, South-Western College Publication.
3. Investor Behavior: The Psychology of Financial Planning and Investing, H K Baker and V Ricciardi, Wiley, 2018.
4. Personal Finance (11th ed.), Jack Kapoor, Les Dlabay and R. J. Hughes, McGraw Hill.
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