Country : Australia
Assignment Task

“The events of this year have shown that behavioural finance is the best explanation of market behaviour. The S&P/ASX 200 index started the year at 6,690 but by 20 February was up to 7,162 then down to 4,156 by 23 March after which it rebounded to 6,148 by 10 June. It is now obvious that it will be down again by the end of the year. This can’t be representative of an efficient market.”
Your task is to write a critical essay evaluating the arguments for and against the Efficient Markets Hypothesis (EMH) and behavioural finance. You should include a discussion of the above quote. The essay should also include a discussion of the work of Nobel Laureates Eugene Fama and Richard Thaler.
You will need to utilise existing literature (scholarly journals) on market efficiency and behavioural finance as well as real world examples to support your conclusion.
Format:
Introduction
Brief background to market efficiency, behavioural finance and the quote.

2. Detailed Discussion of Market Efficiency 
Discuss research (e.g. journal articles) and real world examples (e.g. fund manager performance) that support or disagree with market efficiency. 
Include a discussion of Fama’s work.

3. Discussion of  Behavioural Finance
 Discuss research (e.g. journal articles) and real world examples (e.g. behaviour of markets) that support or disagree with behavioural finance 
 Include a discussion of Thaler’s work.

4. Conclusion on market efficiency and the validity of the quote given.
 

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  • Posted on : September 24th, 2018
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