Financial Markets

EFB201 Essay – Possible Format

Introduction

- Brief background to market efficiency and behavioural finance and the

implications for your firm

2. Discussion of Fama’s views

- Include research (e.g. journal articles) and real world examples (e.g. what some

fund managers have done) that support or disagree with his arguments.

3. Discussion of Shiller’s views

- Include research (e.g. journal articles) and real world examples (e.g. behaviour

of markets) that support or disagree with his arguments.

4. Conclusion on market efficiency and recommendations for the firm.