Welcome

The contents of this syllabus are mandatory for all students enrolled in the course. Not having read or fully reviewed this document does not release the student from the obligation to adhere to the rules, expectations, and procedures established here.

Welcome to the course! My name is Martín Lozano. I hope this message finds you and your loved ones in good health.

Learning formats.

This syllabus applies to all delivery modes: face-to-face, blended, or fully online. The academic standards, course rules, and learning expectations apply consistently across formats.

Distance learning refers to educational formats where students and instructors are not physically in the same space. Based on my experience, these courses can be just as effective as traditional in-person classes. While you may have personal preferences, I encourage you to approach all formats with flexibility. Employers increasingly value adaptability, especially the ability to thrive under changing circumstances and embrace new ways of learning and working.

My first experience with distance education was in 1999, and I have been engaged with it ever since, both as a postgraduate student and as a professor. My research network includes colleagues in Chile, Ireland, the UK, Italy, and Spain. Although we meet in person only once a year, we collaborate constantly through virtual means.

Knowing how to work effectively in online environments is just as important as doing so face-to-face. I hope my experience with various teaching formats will support students’ success in this course. Welcome again!

About me.

My full and updated curriculum vitae is available here.

I am currently a professor of finance and economics at UDEM. I collaborate as a research fellow with the University of Manchester through the Alliance Manchester Business School and as a teaching fellow with SOAS University of London via the Centre for Financial and Management Studies (CeFiMS).

Areas of expertise. Finance, Economics, Statistics, Data Science.

Research interests. Empirical asset pricing; beta and SDF pricing models and tests; financial econometrics; GMM estimation and inference; portfolio allocation models and performance; computational finance; data science applications in business.

Teaching interests. Introductory and intermediate finance, statistics and economics; risk management; econometrics; quantitative methods; financial markets; financial management; international finance, corporate finance; asset pricing; R and Python applications to finance and economics.

Education:

I have also completed more than 20 professional training programs in various areas, including data science, sustainable finance, migration, and innovation. These programs were offered by prestigious institutions such as Strathclyde Business School, University of Bath, Duke University, RISIS Research Infrastructure for Science and Innovation Policy Studies, Università della Svizzera Italiana, AIT Austrian Institute of Technology, The Alan Turing Institute, Universidad Complutense de Madrid, Manchester Institute of Innovation Research, among others.

Research. I am a researcher in the area of quantitative finance. I have held full-time research positions as a pre-doctoral Marie Curie research fellow, supported by the Sixth European Community Framework Programme, and as a post-doctoral research fellow at The University of Manchester, Alliance Manchester Business School, and the Centre for the Analysis of Investment Risk. My research has been published in 3-star journals according to The Chartered Association of Business Schools, including Journal of Empirical Finance, Quantitative Finance, and Journal of Financial and Quantitative Analysis (research assistance). My research has been presented in numerous research seminars in the UK, Spain, Mexico, Brazil, Sweden, and Ireland. My research has also been presented in prestigious international conferences, including the Spanish Association of Finance Forum, Eastern Finance Association (USA), World Congress of the Econometric Society (Italy), French Finance Association, and Econometric Research in Finance, among others. I collaborate as a reviewer and editor for several academic journals in the areas of finance.

Teaching. I have been a lecturer in economics, finance, and data science at undergraduate and postgraduate levels at different universities in Mexico and the UK for the last 25 years. I have also supervised more than 100 dissertations in undergraduate and postgraduate academic programs at institutions including the London School of Business & Finance, University of London, SOAS University of London, The University of Manchester, Universidad Complutense de Madrid, and UDEM, among others. I also have experience in continuous education, consulting, and executive training in the area of finance.

Beyond academics, I have a passion for art, especially music and painting. I enjoy playing my Yamaha digital piano and have performed in concerts across Mexico and Europe. I have served as a keyboardist, pianist, and orchestra director, including more than a decade of musical productions with Tecnológico de Monterrey (Monterrey Campus).

Teaching philosophy.

I aim to teach the kind of course I would be eager to take as a student. My perspective has been shaped by more than 25 years of experience as both a student and researcher at several universities in Mexico and Europe. These experiences have given me deep insights not only in my field of expertise but also in diverse educational approaches and learning techniques across different academic cultures. This dual exposure has taught me the importance of combining theory with practice. Relying only on theory can limit the applicability of knowledge, while focusing only on practice can weaken the understanding of core principles. A thoughtful mix of both is essential for meaningful learning.

In my courses, I place strong emphasis on the use of data, AI-assisted computational work, and programming to develop practical skills and a research-oriented approach to solving business problems. This emphasis is not simply a personal preference, but a reflection of the growing demands of the job market. I understand that not all students enjoy learning computational tools, but these tools have become essential across disciplines, and the university is committed to helping students develop them as part of their professional training. I seek to integrate current technologies and innovation tools so that students are prepared not only for today’s challenges but also for the ones they will face in the near future.

The use of generative AI tools and virtual assistants is explicitly allowed in my courses, subject to the instructions and academic integrity rules of each activity. I believe it is impractical and counterproductive to ban tools that are already part of academic and professional work. Students are expected to become familiar with these tools and learn how to use them effectively, responsibly, and critically. This does not mean that AI replaces understanding. In my experience, AI does not typically provide correct or meaningful answers to the kind of course tasks I design, which require specific data, methodological choices, conceptual understanding, and critical thinking. These tools can help students produce more ambitious work, but students must be able to explain the methodology, code, results, and limitations of what they submit.

I also recognize that students themselves bring varied attitudes and circumstances to their learning. I believe that most students are genuinely interested in the subject matter, although I understand that not everyone comes to class under the same circumstances. Some may not enjoy the topic, others may be navigating difficult personal situations, and some may simply be struggling to stay engaged. I try to be mindful of this while maintaining high academic standards. I care about students’ mental health and well-being, and I do not believe that learning should come at the expense of anyone’s stability or health.

I do not believe there is such a thing as a “bad student.” I believe all students have potential and ability, though they may face different challenges and arrive with different levels of preparation or support. My job is not to judge students by their difficulties, but to meet them where they are and help them move forward. At the same time, I also believe that earning good grades or performing well in a course is not the same as being a good person, and that the latter is far more important. Education is a powerful tool for personal and professional growth, but it should also cultivate empathy, integrity, responsibility, and other higher values.

That said, learning is a shared responsibility. My role is to provide structure, guidance, and support, but students are expected to attend class, follow the rules, and engage actively with the material. They need to prepare, participate, and take ownership of their learning. I provide detailed plans for every class so students know exactly what to read, deliver, and when assignments are due. I design assessments not only to evaluate performance but also to reinforce understanding. I value clarity and fairness in grading, and I offer feedback as a tool to support improvement and critical thinking. While I maintain fixed course standards that all students are expected to meet, I provide the necessary support to help them reach these requirements. Clear communication is essential for the success of the course. I encourage students to contact me with academic questions or other concerns that may affect their learning. I am here to support their progress and to help them stay on track.

This collaborative approach works best within a structured framework. Our course operates within a clear set of rules and regulations established in the syllabus and official university documents. While I value communication and acknowledge personal and emotional challenges, I am also committed to applying these rules consistently and fairly. These guidelines exist to ensure transparency, fairness, and academic integrity. We are not expected to change or adapt the rules based on individual circumstances, and I believe it is important to uphold this principle for the benefit of the entire class.

I strive to maintain a professional teaching approach while remaining approachable and supportive. I love my profession, I enjoy what I do, and I am always willing to help students learn and develop relevant skills. I do not design my courses as entertainment or as a substitute for friendship, but I do aim to maintain a respectful and cordial relationship that supports our ability to meet the course objectives in a constructive and professional manner.

Within this professional framework, I welcome and respect the diversity of student backgrounds, experiences, and perspectives. This diversity enriches the learning environment and helps prepare us for working in a global and interconnected world. At the same time, I believe it is important to distinguish between valuing diverse viewpoints and maintaining academic rigor. While a range of perspectives is encouraged in class discussions, this does not mean that all answers are equally valid from a technical or disciplinary standpoint. Sound reasoning, evidence, and established knowledge remain essential. Education should promote open dialogue, but it must also be grounded in facts, analytical thinking, and a shared commitment to learning. I also encourage students to be aware of the broader social and environmental context of our actions. In my view, education should not only build knowledge and skills but also reinforce values of responsibility, including care for the environment we all share.

I believe that professors and students are not competitors; we are collaborators working toward a shared goal: learning. When a disagreement arises, I don’t see it as a conflict. Instead, I treat it as an opportunity for dialogue. Sometimes I may be wrong, and I try to correct my mistakes openly and promptly. Other times, I may need to explain to the student, using clear reasoning, subject knowledge, or university regulations, why their understanding might not align with course expectations. I understand that my role comes with institutional authority, and I take seriously the responsibility to use that authority fairly. I try to create an environment where students feel heard, even when we disagree, and where they can trust that decisions are based on principles, not personal judgment. Disagreements don’t have to become confrontations. With open communication and mutual respect, they can become part of the learning process itself.

As I reflect on these principles, I’m mindful that higher education serves multiple purposes and represents different things to different people. Particularly in fields like business, finance, and economics, education is not only an academic pursuit but also a strategic investment. Whether tuition is paid by the student, their family, or a sponsoring institution, there is an expectation of value and return. As students and instructors, we have a shared responsibility to treat this process with the seriousness it deserves. That said, it’s also important to remember that education, while valuable, is not the only, or the most important, aspect of our lives as individuals. Our health, our relationships, and our character and values matter even more. I hope my students leave the classroom not only with stronger skills but with a deeper sense of what really matters.