International Health Systems

International Health Systems Order Description Read Chapter 1 (file uploaded). You may also view the American Medical Student Association Web sites to find the leading causes of death. You may also search the Internet for additional information on causes of death, including the Centers for Disease Control and Prevention—Leading Causes of Death and World Health Organization—Top Ten Causes of Death. Compare and contrast the primary causes of death and the health care system components of France with the U.S. Be sure to include: 1. Population 2. Primary causes of death 3. Financing, types of providers 4. Types of public health agencies 5. Enablers 6. Suppliers 7. Regulators. List the components in 7 rows of a chart, using the International Health Systems Template (file uploaded). Identify the corresponding values for both France (in one column) and the values for the U.S. (in another column). Do not write introduction & conclusion. You can research on the Internet or books/journals & you can add additional references. American Medical Student Association link: https://www.amsa.org/advocacy/action-committees/global-health/international-health/ Centers for Disease Control and Prevention link: https://www.cdc.gov/nchs/FASTATS/lcod.htm World Health Organization link: https://www.who.int/mediacentre/factsheets/fs310.pdf International Health Systems France: United States: 1. Population 2. Primary causes of death 3. Financing, types of providers 4. Types of public health agencies 5. Enablers 6. Suppliers 7. Regulators 50 INVESTMENT MANAGEMENT COURSEWORK Objective: This assignment asks you to prepare a professional investment management report using data from Yahoo! Finance and the theory and practices presented in the module. Submission deadline: 19/01/2016 at 15:00 (3 PM) Word limit: The report should not exceed 2500 words. This limit excludes the Appendix with the Excel workbook, but includes the executive summary and the references. Question: Assume that you are employed as an analyst for a leading financial advisory company and that you are asked to prepare an investment analysis report for a client. The client is interested in diversifying his investment on CocaCola’s stock with another firm’s stock. Your report should demonstrate that you have a solid understanding of the investment management theories and tools covered in the module and that you can communicate this clearly. In order to prepare your report, you need to download the weekly dividendadjusted closing prices for S&P500, Coca-Cola (KO) and the potential firm (see “Firm-Student ID.xlsx” for your firm) for the period 1/1/2013-1/1/2015. Using this data, you should then use Excel to compute the corresponding weekly returns. In the report, you should: Financial information and descriptive statistics ? Briefly discuss three recent news stories (from online sources) about your firm, which could be of interest to the shareholders. For each story, explain whether you would expect it to drive the stock price up, down or to have no price impact. (10 marks) ? Report the mean, the variance and the standard deviation of the weekly returns for each of the three assets (your firm, Coca-Cola and S&P500). Explain what each of these statistics indicates according to the theory of investment management. Also explain which of the three assets is more attractive to an investor that seeks the minimum risk and which is more attractive to an investor that seeks the highest mean return per unit of standard deviation. (15 marks) ? Report the weekly covariance as well as the correlation between the returns of the S&P500 and your firm and between Coca-Cola and your 1 firm. Discuss the kind of relationship in both cases, including appropriate XY (scatter) plots. (10 marks) Portfolio selection ? Compute and draw the efficient frontier for your firm and Coca-Cola and explain why it is important in investment management. Compute the minimum variance portfolio and show its position in the efficient frontier graph. (15 marks) ? Given a constant weekly risk-free rate of 0.05%, compute the optimal risky portfolio that consists of your firm and Coca-Cola. Compute the optimal capital allocation between the risk-free asset and the optimal risky portfolio for the client, assuming a risk-aversion of 10. How should your client spread an amount of $5,000 among the risk-free asset, the stock of your firm and Coca-Cola? Draw the capital allocation line and show the optimal capital allocation on the graph. How would you expect the optimal capital allocation to change if risk aversion increases? (20 marks) Capital Asset Pricing Model ? Assume that the expected return on the market portfolio is equal to the average return on the S&P 500 index in the given time period. Also, assume again a constant weekly risk-free rate of 0.05%. Obtain the beta for your firm and for Coca-Cola from Yahoo! Finance and compute the fair expected return of each stock according to the Capital Asset Pricing Model. Draw the Security Market Line and show the fair expected returns of the two stocks and of the S&P 500 on the graph. (15 marks) ? Explain which of the two stocks (Coca-Cola or your firm) is riskier for a fully diversified investor. Compute the alpha of each of these two stocks, as well as the beta and the alpha of the optimal risky portfolio. What do the alphas for the stocks and the portfolio indicate in terms of investment performance? (15 marks) 2 Important details ? The file “Firm-Student ID.xlsx” provided in the Coursework folder at the Blackboard site of the module assigns a real U.S. firm to each student ID. You should prepare the report for the firm assigned to you. ? To find the data you need, you should use Yahoo! Finance. A link to each firm’s webpage is provided in the above file as well. ? The question is strongly related to the material covered in Lectures 1-9, Seminars 1-2 and Labs 1-2 of the module and the associated chapters from the textbook. ? You should prepare your report in Microsoft Word or in another word processing software. ? An executive summary (of maximum 250 words) should be included at the beginning of your report. This should summarise the main points of the report. ? In each section of the report, you should also include details about the data you used and the mathematical formulas (e.g., the CAPM) you applied for your computations. However, try to be brief and clear in your answers. ? The question should be answered using Microsoft Excel in a single workbook with multiple worksheets. In the first worksheet, you should include all the data you obtained from Yahoo! Finance. ? Your submission should include a copy of your Excel workbook as an appendix to your report. 30% of the coursework mark will be subtracted from submitted assignments that do not include a copy of the Excel workbook. ? You should present your models/computation/discussion in Word in a helpful and clear way. You should also use an appropriate format for the Excel cells. All graphs should be included in your report as well (Word file). For more details on successful presentation see: http://www.uea.ac.uk/polopoly_fs/1.91281!essay_presentation.pdf ? Include at least 3 references to textbooks or articles in credible professional magazines or academic journals. These should be included at the end in a list of references. Do not include articles that you do not cite within your report or that you have not at least partly read. ? Any questions related to the coursework should be submitted to the “Coursework Questions” forum within the Q&A forum on the Blackboard Site of the module. The link to the Q&A forum is within the list on the left. To ask a question, click on Create a New thread and post your question. You should also click on “Subscribe” to receive an email when a new question is posted. You should visit the forum on a regular basis. ? More details about coursework submission can be found at http://www.uea.ac.uk/calendar/section3/regs(gen)/submission-of-work-forassessment-(taught-programmes) 3 UG Coursework Assessment Criteria In preparing your coursework, you should be aware that you will be assessed by reference to the extent to which your answers meet the following criteria: Criterion Identification and application of knowledge to the question asked Evidence of reading and research Capacity to find data from online resources Ability to construct investment models related to the question asked Ability to correctly implement these models using spreadsheet software Demonstration of ability to structure and present work in a clear and coherent way Clear and accurate expression Weight 20% 10% 5% 15% 25% 15% 10% ? Please preserve anonymity by using your university number, not your name. ? This coursework counts for 50% of the assessment in this module. ? You should be aware of the standards required for the award of marks for coursework. These are available at http://www.uea.ac.uk/learningandteaching/documents/assessment/Undergra duateMarkingDescriptors Referencing Your coursework should clearly distinguish between your original words and ideas, and those of others. When referring to the work of others, from books, journals or any other source (including the internet), it is essential that you make this clear by acknowledging your source and referencing correctly. Failure to reference correctly will lose you marks and may constitute plagiarism or collusion. Unless specified otherwise by the module organiser, Norwich Business School uses the Harvard system of referencing. University Policy on Plagiarism and Collusion It is important that all students familiarise themselves with the rules and regulations regarding plagiarism and collusion. Understanding these rules will help you to avoid plagiarism, and to maintain the quality of your academic work. You should ensure that you are familiar and up to date with the Universities rule 4 on Plagiarism and Collusion, available at https://www.uea.ac.uk/learningandteaching/students/studying/plagiarism You should also make sure that you are familiar with the Business School’s policy on Harvard referencing which is available in your student handbooks. Individual study skills support and advice on referencing is also provided by the Learning Enhancement Service at the Dean of Students Office. Where work has been submitted in word-processed format, you may be requested to provide a digital copy of your coursework (after an initial examination of the hard copy by the coursework assessors) for use with plagiarism detection software. Instances where plagiarism is suspected will be investigated by the NBS Plagiarism Officer. Students who are found to have plagiarised will be penalised. In proven cases offenders will be punished and the punishment may extend to degree failure, temporary suspension or expulsion from further study if the case comes before a Discipline Committee of the University. Work for assessment should be submitted to the relevant Learning and Teaching Service Hub. Please ensure that you know the specific location of the submission box in advance of your first deadline. General Advice Before you submit any coursework you should make sure that you are clear and up to date in your knowledge of university policy and practice. The University’s policy on Submission of Work for Assessment (Taught Programmes): Submission of Anonymised Work for Assessment, Word Limits and Penalties, Extensions and Penalties for Unauthorised Late Submission, Provisional Marks and Feedback, and Retention of Coursework is published in the Calendar, and is available at: https://portal.uea.ac.uk/documents/6207125/7465906/Section+3+Submission+of +Work+for+Assessment+-+Taught+Programmes.pdf A penalty will be imposed for exceeding the word limit, which will be clearly stated in the assignment. Students must include their word count on the coursework coversheet when they submit their work. The word count for coursework, written assignments, projects, reports and dissertations shall include: Footnotes and endnotes (irrespective of whether they have been used for the purpose of referencing or not, references (in the main text), tables and illustrations and if applicable the abstract, title page and contents page. Any appendicised material and the bibliography or reference list shall be excluded from the word count. 5 Word Count Penalties Up to 10% over word limit 10% or more over the word limit Failure to provide an electronic copy when requested Intentional misrepresentation of the word count on the coversheet No Penalty Deduction of 10 marks off original mark Mark capped to the pass mark Mark capped to the pass mark Penalties for late submission The deadline for submission of coursework is 15:00 (3pm) on the submission/due day. This is for both electronic submission and paper copy submissions. If you submit coursework after the published deadline, without an approved extension, the following penalties will apply: Work submitted After 15:00 on the due date and before 15:00 on the day following the due date After 15:00 on the second day after the due date and before 15:00 on the third day after the due date After 15:00 on the third day after the due date and before 15:00 on the 20th day after the due date. Marks deducted 10 marks After 20 working days Work will not be marked and a mark of zero will be entered 20 marks All the marks the work merits if submitted on time (i.e. no marks awarded) Saturdays and Sundays will not be taken into account for the purposes of calculation of marks deducted.