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Last updated:

September 21, 2023


Unlimited Duration


This course includes:

Unlimited Duration

Badge on Completion

Certificate of completion

Unlimited Duration


15.401 Finance Theory I (Fall 2008, MIT OCW). Taught by Professor Andrew Lo, this course provides a rigorous introduction to the fundamentals of modern financial analysis and applications to business challenges in valuation, risk analysis, corporate investment decisions, and basic security analysis and investment management.

The four major sections of the course are: (A) an introduction to the financial system, the financial challenges firms and households face, and the principles of modern finance in tackling these challenges; (B) valuation of stocks, bonds, forwards, futures, and options; (C) methods for incorporating risk analysis into valuation models, including portfolio theory, mean-variance optimization, and the Capital Asset Pricing Model; and (D) applications to corporate financial decisions, including capital budgeting and real options. (from ocw.mit.edu)

Course Curriculum

  • Lecture 01 – Introduction and Course Overview Unlimited
  • Lecture 02 – Present Value Relations I Unlimited
  • Lecture 03 – Present Value Relations II Unlimited
  • Lecture 04 – Present Value Relations III & Fixed-Income Securities I Unlimited
  • Lecture 05 – Fixed-Income Securities II Unlimited
  • Lecture 06 – Fixed-Income Securities III Unlimited
  • Lecture 07 – Fixed-Income Securities IV Unlimited
  • Lecture 08 – Equities Unlimited
  • Lecture 09 – Forward and Futures Contracts I Unlimited
  • Lecture 10 – Forward and Futures Contracts II & Options I Unlimited
  • Lecture 11 – Options II Unlimited
  • Lecture 12 – Options III & Risk and Return I Unlimited
  • Lecture 13 – Risk and Return II & Portfolio Theory I Unlimited
  • Lecture 14 – Portfolio Theory II Unlimited
  • Lecture 15 – Portfolio Theory III & The CAPM and APT I Unlimited
  • Lecture 16 – The CAPM and APT II Unlimited
  • Lecture 17 – The CAPM and APT III & Capital Budgeting I Unlimited
  • Lecture 18 – Capital Budgeting II & Efficient Markets I Unlimited
  • Lecture 19 – Efficient Markets II Unlimited
  • Lecture 20 – Efficient Markets III & Course Summary Unlimited

About the instructor

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