Philip
Booth’s biographical details, research and publications
Books to download edited, written or
co-authored by Philip Booth: The Way Out of the
Pensions Quagmire ; Verdict on the
Crash (with audio and video files); Pension Provision:
government failure around the world (with audio and video files); Towards a Liberal
Utopia; Were
364 Economists All Wrong? and Does Britain Need
a Financial Regulator?
Read about: Modern
Actuarial Theory and Practice, by Philip Booth and other members of the
Faculty of Actuarial Science at Cass Business School; Investment
Mathematics, by Andrew Adams, Philip Booth, David Bowie and Della Freeth; Issues
in Monetary Policy: the relationship between money and financial markets,
edited by Kent Matthews and Philip Booth (chapters by Mervyn King and Milton
Friedman and a number of Cass Business School professors and visiting
professors); The
Road to Economic Freedom, edited by Philip Booth and John Meadowcroft; Christian
Perspectives on the Financial Crash, edited by Philip Booth; and Globalization
and Free Trade, edited by Philip Booth and Richard Wellings.
Struggling to understand the logic of
statements on economics made by “learned” commentators? Then download Fifty
Economic Fallacies Exposed by Cass Professor Geoffrey Wood
Teaching 2010/11 Term Two
If
you are interested in economic matters, you might be interested in this IEA
event on economic
growth and the supply side or this one on the
financial crash. All our welcome but please do book if you wish to come.
MSc in Actuarial Management:
Finance and Investment
Weeks two, three (online learning), four
and five (online learning)
Reading on the influence of the economic
and institutional background
Late addition: there is so much
that could be read on this subject it is difficult to know how to narrow it
down. You might want to read this instead of the speech by Fisher – it is much
more thorough: The
Transmission Mechanism of Monetary Policy . It does not, however, deal with
developments such as QE.
Links to reading
Debt
Management Office Annual Review
Evolution
of the UK Banking System
Bank
of England Inflation Report
Students
might also be interested in my
article in the Wall Street Journal on the future of the eurozone
Weeks two and four
Slides on the influence of the
economic and institutional background
Week three online learning
Weeks four and six
Links to reading
Week five online learning
Coursework
Coursework is to be handed in to
the Course Office by 25th March
Week six (probably will not cover until
week eight)
Weeks seven and nine online learning
The
Economic Rationale for Financial Regulation
EU
Financial Services Action Plan
Does
Britain Need a Financial Regulation?
Week seven online learning
Weeks eight and ten
Please note two important points:
Material covered in CT1 (or
equivalent) on money- and time-weighted rates of return and their advantages
and disadvantages is required knowledge for this course but will not be covered
again
An additional brief note on other
investment indices will be put up after week eight’s lecture (the purpose of
this is to save going through such descriptive material in the lectures). This
is also part of the course.
Reading on investment indices
and performance measurement
Slides on investment indices and
performance measurement
Additional notes
on investment indices
Additional
notes on property indices
Week nine online learning
Exam preparation
Past exam questions and notes on
the answers to assist you can be found here
Teaching 2010/11 Term One
MSc in Actuarial Management:
Actuarial Risk Management Part One
Week one
Reading on cash flows from actuarial
liabilities
Slides
on cash flows from actuarial liabilities
Week two online learning
Audio
file on cash instruments
Weeks two and three
Reading
on government bonds and cash instruments
Links
to reading
Debt
Management Office Quarterly Review
Debt
Management Office UK Government
Securities: a guide to gilts
Debt
Management Office 2009/10 Annual Review
Article
by Hilton in Bank of England Quarterly
Bulletin
Weeks four to six
Reading
on company financial instruments and real estate
Links to reading
Decomposing
Corporate Bond Spreads
Bank
of England Quarterly Bulletin
Slides on real estate investment
Week five online learning
Audio
file on overseas investment
Week seven online learning
Reading on collective
investment vehicles
Notes on collective investment
vehicles
Slides on collective
investment vehicles
Audio file on collective
investment vehicles
Links to reading
Understanding Commercial Property
Investment
[I forgot to recommend page numbers
for this and also should have put it on the reading list for Company Finance
and Real Estate Investment. I do not want to burden you with too much reading,
but chapter 6 is useful for this subject and chapters 2-4 are useful background
for Company Finance and Real Estate Investment].
House
of Commons Select Committee Report
Week seven (will be taught in week 8)
Reading
on expected returns and the relative valuation of investments
Slides on expected returns and the relative
valuation of investments
Week eight
Reading
on factors influencing investment policy
Slides
on factors influencing investment policy
Links to reading
Bank
of England Quarterly Bulletin – Liability Driven Investment Strategies
Bank
of England Quarterly Bulletin – RPI Inflation Options
Week ten
Reading on mathematical techniques and
active and passive management
Slides on mathematical techniques
Week ten online learning
Notes on stochastic models
and active and passive management
Slides on stochastic
models and active and passive management
Audio file on stochastic models and active
and passive management
Weeks eight and ten
There was some material for week
eight that was unfinished. This material is quite similar to the reading given
in the Modern Actuarial Theory and Practice book and is quite discursive. It is
also clearly illustrated by a detailed set of slides. I am therefore providing
you with a full set of notes for the material in week eight (of which we
covered about one third in the lecture). It is more up to date than the
textbook but is a little less detailed. These notes are, nevertheless, fine for
your purposes. The notes can be found here
Coursework
The final group allocations are
attached to the coursework document. One PhD student has been added to each of
group 14 and 15. The groups are otherwise as handed out on the provisional
list.
Coursework:
This must be done in groups and handed in by 29th November at the
course office. Any further announcements about groups will be made on this
website (eg if the groups have to change for any reason).
Exam preparation
Past exam questions and notes on
the answers to assist you can be found here
. This has been brought up to date.