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; and Were
364 Economists All Wrong?
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); and The
Road to Economic Freedom, edited by Philip Booth and John Meadowcroft.
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 2009/10 Term One
MSc in Actuarial Management,
Actuarial Risk Management Part One
Week one
Reading on cash flows from actual
liabilities
Slides
on cash flows from actuarial liabilities
Weeks two and three
Reading
on bonds and cash instruments
links to reading: DMO Quarterly Review; DMO
guide to gilts; Bank
of England Financial Stability Report
DMO
Annual Review; Article
on money market funds; Article
on corporate bonds spreads
Slides
on corporate bonds (n.b. this topic will probably not be covered until
weeks four and five)
Week two
Audio
file on cash instruments
N.B.
after listening to the audio file and reading the written material you should
be able to answer the relevant questions on cash instruments on the handout for
weeks two and three.
Week four
Audio file on overseas investment
Week five
We
will probably spend most of week five covering corporate bonds and credit risk
but the slides and reading lists for equity investment and real estate
investment are below
Reading on equities and real estate
links to reading: Annual
lease review; IPD
annual index
Slides on real estate investment
(there
has been a change to the slides put on the site on 19th October,
please use this version added to the site on 26th October)
Week six
There
is a change to the schedule. David Smith cannot lecture this week. I shall
lecture for three hours this week and for two hours (as scheduled) next week.
In week eight, I shall lecture for one hour and David Smith for two hours (I
was scheduled to lecture for three hours). In other words the schedule for week
six is being swapped with the schedule for week eight. As such the next set of
online learning will not go up until week eight. The last set will go up in
week ten.
Weeks seven and eight
Reading on estimation of expected returns and the
relative valuation of investments
There
are no slides – though some of the slides on asset allocation are relevant
Reading on factors influencing investment policy
Slides on factors influencing investment
policy
links to reading: Bank
of England article on liability driven investment strategies, Bank
of England article on RPI inflation options
Week eight
Reading on collective
investment vehicles/indirect investment
links to reading: House
of Commons Select Committee Report; for investment Property Forum Report
please see Cityspace (folder “Philip Booth extra reading”)
Slides on collective
investment vehicles/indirect investment
Notes on collective investment
vehicles/indirect investment
Audio file on collective
investment vehicles/indirect investment
Week ten
Reading on asset/liability management,
stochastic modelling and active and passive management
Slides on mathematical techniques
Additional notes on parts of this
subject not covered in online learning or in the lecture
Online learning
Slides on stochastic
modelling and active and passive management
Notes on stochastic
modelling and active and passive management
Audio file on stochastic modelling and
active and passive management
Coursework
This is an important note regarding
coursework groups
Final coursework groups: there have
been two changes – groups 14 and 15 now have five members
Coursework: this must be done in groups and
handed in by 30th November to the course office. There is no need to
make an email submission.
Announcement about groups:
Ming Zhu has
completed the course and is therefore not in Group 10. Ambanaden Narayna (Part
Time yr 2) joins Group 10.
Exams
In
this document you can find all exam
questions (with notes for answers) that I have set up to and including 2008.
Teaching 2009/10 Term Two
MSc in Actuarial Management,
Finance and Investment
Weeks two, three and five: Reading on the Influence of the Economic
and Institutional Environment on Investment
Links to reading available on the web
Money, Inflation
and the Constitutional Position of the Central Bank
Shadow Monetary
Policy Committee Minutes
Bank of
England Financial Stability Review
Bank
of England Quarterly Bulletin
Week two
Notes on
Economic Background (n.b. these are a little out of date; do not cover
everything and are not checked for typos; please use as a supplement and not as
a replacement for lecture notes)
Week three online learning
Slides on Economic Background
(Intermediation)
Notes on Economic
Background (Intermediation)
Audio
file on Economic Background (Intermediation)
Week four
Links to reading available on the web
Article
by Vila, Wetherilt and Weeken
Week five online learning
Slides
on Economic Background (Taxation)
Notes on
Economic Background (Taxation)
Audio file on
Economic Background (Taxation)
Week six
Reading
on Derivatives (Institutional Features of Risk Control – Futures)
Slides on
Derivatives (Institutional Features of Risk Control – Futures)
Week seven online learning
Reading
on Regulation for both weeks seven and nine
Slides
on Regulation (part one)
Notes
on Regulation (part one)
Audio
file on regulation (part one)
Weeks eight and ten
Assessment
Coursework: this must be handed in by 23rd
March to the course office. There is no need to make an email submission.