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  • Classroom by WRDS
    Classroom by WRDS is a teaching and learning toolkit designed to introduce finance and business concepts through interactive applications and simulations.
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    Aggregate Demand and Aggregate Suply Small

    Aggregate Demand and Aggregate Supply

    Using this introductory aggregate demand and aggregate supply model, students learn how macroeconomic events impact economic output and price levels.

    • Interactive AD/AS graph
    • Visualize impact of economic fluctuations
    Backtester Small


    Developed in collaboration with award-winning Wharton Professor of Finance Robert Stambaugh, this application enables students to design and test their own investment strategies.

    • Set up a backtest to test an investment strategy
    • Run tests against a wealth of archived data
    • Review and assess the outcome
    Balance Sheet (Small)

    Balance Sheet

    Students learn the balance of assets and liabilities/equity. On-screen output includes such items as:

    • Cash and Short-Term Investments
    • Depreciation and Amortization
    • Accounts Payable
    • Total Shareholders' Equity
    Beta Visualization

    Beta Visualization

    WRDS' proprietary Beta Visualization application teaches students about beta, R


    , and how the two metrics represent stock risk.

    • Select stocks individually or by industry
    • Compare to industry averages
    • Fully interactive and integrated charting of risk measures
    Default Small

    Bonds: Spot Rates and Forward Rates

    How do changing interest rates affect bond investment decisions? After a brief introduction to the concept of term structure, students learn:

    • The relationship between spot rates, implied forward rates, and yield to maturity
    • How to determine the implied forward rate given a series of spot rates
    Bond Valuation Small

    Bond Valuation

    Determine the fair price of a bond using the following parameters:

    • Coupon rate
    • Par value
    • Yield to maturity
    • Time to maturity & frequency of payments
    CAPM Equity Valuation (Small)

    CAPM Equity Valuation

    Students will learn to calculate cost of equity and evaluate the relationship between risk and expected return.

    • Understand the capital asset pricing model
    • Download and evaluate company returns
    • Compute the cost of equity
    Efficient Frontier Small

    Efficient Frontier

    Students will learn important concepts in diversification and portfolio optimization using a rich, interactive application.

    • Visualize the efficient frontier
    • Adjustable parameters
    • Stocks from the Dow 30
    Estimating Volatility (Small)

    Estimating Volatility

    Using MATLAB, students will learn about volatility clustering in stock prices and test the predictive power of the GARCH model.

    • Identify volatility clustering
    • Apply econometric methods (GARCH)
    • Interpret statistical output and test model fit
    Fama-French 3-Factor Analysis Small

    Fama-French Three-Factor Analysis

    In this teaching tool, students are introduced to the Fama-French three-factor model. Extending the CAPM, Fama-French adds both size and value factors in this sophisticated asset pricing model.

    • Fama-French factors explained
    • Step-by-step multiple regression
    • Practical Excel skills

    Financial Ratios Visualization

    Financial Ratios Visualization

    Students become acquainted with a broad range of financial ratios using this sophisticated and intuitive visualization tool.

    • Over 70 different ratios organized by category
    • Compare to industry averages
    • Fully interactive visualizations
    Liquidity Ratios Small

    Firm Liquidity Ratios

    How to do managers and investors determine a company's liquidity? The Firm Liquidity Ratios tool teaches students about different ratios commonly used to determine a company's ability to meet its financial obligations.

    • Visually engaging format
    • Firm and industry-level comparisons
    Fiscal Policy: Multiplier Effect Small

    Fiscal Policy: Multiplier Effect

    Using this multiplier calculation tool, students learn how fiscal policy – both government spending and tax policies – can impact aggregate demand.

    • Visual representation of multiple rounds of spending
    • Allows users to input custom values for initial demand and MPC
    Futures Contract - Small

    Futures Contracts

    What are futures contracts and how do they work? Learn the mechanics of futures trading, including how profits and losses are calculated.

    • Review futures contract specifications
    • Understand the mark to market process
    • Determine P&L for hypothetical futures trades
    Income Statement (Small)

    Income Statement

    Understand the structure of a company's profit and loss accounting using the income statement. Students will become acquainted with the following income statement components:

    • Sales
    • Operating Income
    • Net Income
    • Earnings Per Share
    Internal Rate of Return

    Internal Rate of Return

    Measure and compare the profitability of different investments using a capital budgeting analysis.

    • Calculate and understand cash flows, IRR, and NPV
    • Examine multiple investment scenarios
    GAAP Financial Statements (Small)

    Introduction to Financial Statements

    Review the complete financial statements of a company for multiple years.

    • Execute web queries to download financial statements
    • Validate elements of the balance sheet, income statement, and statement of cash flows
    Introduction to Sentiment Analysis - Small

    Introduction to Sentiment Analysis

    Students learn some basics of sentiment analysis, including:

    • How text can be classified as positive, negative, or neutral
    • Sentiment lexicon vs. machine learning approaches
    Intruduction to Text Analysis Small

    Introduction to Text Analysis

    This teaching tool presents an overview of natural language processing (NLP), concentrating on techniques used to prepare text data for analysis, including:

    • Tokenization
    • Lemmatization
    • Stop words
    • Word frequency
    IS-LM Model Small

    IS-LM Model

    Learn how the IS (Investment Savings) and LM (Liquidity Preference/Money Supply) curves intersect to show the short-run equilibrium between interest rates and real GDP.

    • Interactive IS-LM graph
    • Visualize impact of fiscal and monetary policy actions
    Linking Financial Statements (Small)

    Linking Financial Statements

    Students will learn how the balance sheet, income statement, and cash flow statement are interrelated.

    • Visualize links with simple illustrations
    • Work with a real-world company
    Machine Learning: Text Classification - Small

    Machine Learning: Text Classification

    In this supervised machine learning assignment, students are asked to adjust the training/testing parameters on a text classification tool and review results. Students will learn:

    • Basic theory underlying machine learning
    • Naive Bayes text classification
    Market and Firm Specific Risk

    Market and Firm-Specific Risk

    Use the Beta Visualization application to learn about alpha and beta, and how they relate to firm-specific and market risk. Gain exposure to:

    • Alpha, beta, and measures of risk
    • R2 and beta reliability
    • Sophisticated visualization of metrics
    Mechanics of Diversification Small

    Mechanics of Diversification

    How does diversification work? Developed in conjunction with Wharton Professor, Donald Keim, this application introduces students to to the mechanics of diversification in an engaging format using three interactive tools:

    • Variance-covariance matrix
    • Two-asset opportunity set
    • Limits of diversification graph
    Mutual Fund Turnover

    Mutual Fund Turnover

    Duplicate market returns or try to exceed them? Students evaluate the impact of management styles on mutual funds.

    • Understand effects of trading activity in mutual funds
    • Buy-and-hold vs. actively managed funds
    Named Entity Recognition Small

    Named-Entity Recognition

    Named-entity recognition (NER)—the process of finding and classifying named entities such as people, locations, and organizations in text—is central to many other natural language processing tasks. Students learn basic concepts and evaluate three approaches to NER:

    • Rule-based
    • Machine learning
    • Neural network
    Wharton OTIS Trading Simulator (Small)

    OTIS Trading Simulator

    Teach students the nuances of portfolio management and the impact of fluctuations on a large portfolio.
    • Manage a virtual portfolio of tradeable securities
    • Trade domestic and international stocks, bonds, ETFs, options, futures, and more
    • Review portfolio analytics
    Portfolio Diversification (Small)

    Portfolio Diversification

    Using a series of visualizations, students will see the progressive impact of diversification on portfolio return and volatility.

    • Understand the effects of diversification
    • Generate and interpret graphs of the efficient frontier
    • Understand concepts of returns, standard deviations and correlations
    Understanding Portfolio Risk Over Time (Small)

    Portfolio Risk Over Time

    Looking at descriptive statistics of stock returns, students evaluate the impact of diversification.

    • Download and graph time series of stock returns
    • Estimate and understand portfolio risk by calculating return variances
    Purchasing Power Parity - Small

    Purchasing Power Parity (PPP) GDP

    How do we compare economies across countries? Students are introduced to the concept of purchasing power parity (PPP) and will complete a graphing activity using Penn World Table (7.1) data.

    • GDP per capita for 189 countries
    • 60 years of data
    Reinvestment Risk: Bonds - Small

    Reinvestment Risk: Bonds

    What happens when the cash flows from an investment cannot be reinvested at the original rate of return? Callable bonds and fluctuating interest rates, for example, both present potential reinvestment risk.

    • Compare yield to maturity with realized compound yield
    • Investigate exposure to reinvestment risk
    Sentiment Analysis Lexicons - Small

    Sentiment Analysis Lexicons

    Many sentiment analysis tools rely on sentiment lexicons—lists of words scored for positive and negative connotations. Students learn different approaches to creating these lexicons.

    • Demonstrates six sample sentiment lexicons
    • Introduces domain-specific sentiment analyses of financial statements
    Cash Flow Statement (Small)

    Statement of Cash Flows

    Students learn the components of a company's Statement of Cash Flows. Includes data such as:

    • Cash from Operating Activities
    • Cash from Investing Activities
    • Cash from Financing Activities
    • Net Change in Cash
    Three Levers of Performance (Small)

    Three Levers of Performance

    Students learn the methods that financial managers use to increase ROE.

    • Understand how managers deliver financial value to shareholders
    • Learn about the return on equity (ROE) performance metric
    • How Profit Margin, Asset Turnover, and Financial Leverage affect ROE
    Time Value of Money: Compound Interest Small

    Time Value of Money: Compound Interest

    Students learn basic time value of money concepts and visualize growth of investments using an interactive compound interest graph.

    • Change key parameters such as interest rate and compounding frequency
    • Plot results on an interactive graph
    Time Value of Money: Present and Future Value - Small

    Time Value of Money: Present and Future Value

    Use the interactive computational tool to familiarize students with the variables found in basic time value of money problems. Students learn techniques of:

    • Compounding
    • Discounting
    Treasury Yield Curve - Small

    Treasury Yield Curve

    Students learn what the U.S. Treasury curve is, how it is plotted, and how it can be viewed as an indicator of economic health.

    • 3-D model of U.S. Treasury yield curve, 1975-2015
    • Introduction to federal funds rate as a tool of monetary policy
    Unsupervised Machine Learning: Clustering - Small

    Unsupervised Machine Learning: Clustering

    Learn about clustering as an unsupervised machine learning task and become familiar with how the k-means algorithm works for text classification.

    • Customize input parameters, such as number of clusters
    • Compare k-means cluster results with human-annotated results

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