Investments
本课程系统介绍投资理论与实践，涵盖资产类别、投资组合理论、资产定价模型和市场有效性。课程内容包括股票与债券估值、马科维茨均值-方差模型、资本资产定价模型（CAPM）、套利定价理论（APT）、有效市场假说（EMH）、以及共同基金和ETF等投资工具。学生将学习构建最优投资组合的方法，理解风险与收益的量化关系。
This course provides systematic coverage of investment theory and practice, including asset classes, portfolio theory, asset pricing models, and market efficiency. Topics include stock and bond valuation, Markowitz mean-variance model, CAPM, APT, efficient market hypothesis, and investment vehicles like mutual funds and ETFs. Students learn to construct optimal portfolios and quantify risk-return relationships.
学生从沪深300或标普500成分股中选取20只股票，收集过去三年的月度收益率数据，运用Excel或Python计算均值、方差和协方差矩阵，构建有效前沿。在给定风险偏好下确定最优投资组合权重，并与市场指数进行对比，计算夏普比率、特雷诺比率和詹森阿尔法等绩效评估指标，撰写投资分析报告。
Students select 20 stocks from CSI 300 or S&P 500, collect three years of monthly returns, and compute mean-variance optimization using Excel or Python. They construct the efficient frontier, determine optimal portfolio weights for given risk preferences, and evaluate performance against market indices using Sharpe ratio, Treynor ratio, and Jensen's alpha.