AFM 273Financial Instruments and Capital Markets
- Units
- 0.50
- Faculty
- Arts
When it runs
- F24
- W25
- S25
- F25
- W26
- S26
- F26
- W27
- S27
Ran in 5 of the last 7 terms. Winter 2027: not on the schedule. Spring 2027: schedule not out yet.
This course is the second in a two-course sequence which offers an overview of global capital markets. The course focuses on valuation of financial instruments and the theories of financial risk and diversification.
Prerequisites
- Complete all of the following
- Must have completed at least 1 of the following:
- Must have completed at least 1 of the following:
- Complete 1 of the following
- Enrolled in H-Accounting & Financial Management, H-Science & Financial Management, or H-Sustainability & Financial Management
- Enrolled in H-Biotechnology/Chartered Professional Accountancy
Antirequisites
Leads to
Fall 2026 sections
| Section | Class | Enrolled | Meets |
|---|---|---|---|
| LEC 001 | 3313 | 65 / 65 | TTh 16:00–17:20 |
| LEC 002 | 3314 | 64 / 65 | TTh 17:30–18:50 |
| LEC 003 | 3964 | 65 / 65 | TTh 17:30–18:50 |
| LEC 004 | 3965 | 64 / 65 | TTh 19:00–20:20 |
| LEC 005 | 3966 | 37 / 65 | TTh 20:30–21:50 TTh 20:30–21:50 |
| LEC 006 | 3967 | 65 / 65 | TTh 11:30–12:50 |
| LEC 007 | 8351 | 65 / 65 | TTh 13:00–14:20 |
| TST 101 | 3968 | 425 / 455 | Oct 29 20:30–21:50 |
Reviewed on UW Flow
56% liked it26% easy91% useful
From 84 ratings and 23 comments on UW Flow. The most helpful comments, quoted as written, without names. Read them all on UW Flow.
concepts and calculations aren't necessarily hard to understand, but with so many methods difficulty lies in remembering and knowing how and when to apply which to solve questions. mass amount of practice problems are key
Feb 2026 · liked itOn UW FlowRemove this
I just hate finance so this course was pretty difficult and the tutorials are all on excel but the exams are on paper so you kind of just have to teach yourself the whole course. TA's are knowledgeable and mohsin knows nothing so be in Ben's class if u can
Dec 2025 · didn’t like itOn UW FlowRemove this
tbh its not that bad like its basically a math course since on paper just spam the word problems, do the learn ones as well textbook, and past exams you should be hundred precent good. profs made the exam super fair it was very similar to the practice exam and word problems.
Dec 2025 · liked itOn UW FlowRemove this
This course is not easy however Prof Benjamin made it really enjoyable and gives lots of examples. If you can get him as a prof he is a legend.
Dec 2025 · liked itOn UW FlowRemove this
It will prob be the hardest course in 2A which just means you need to keep up with the reading and homework and no fall behind, very doable. Try to get prof benjamin, his class average was the highest he explains concepts very well.
Dec 2025 · liked itOn UW FlowRemove this
Discussed on r/uwaterloo
94 posts and comments in 81 threads mention AFM 273, August 2015 to December 2024. Quoted word for word, newest first; each reply sits under the post and the comment that started its branch. Search r/uwaterloo for newer posts.
Fall 2024
Failed AFM 273 - will have to take 273, 212, and 291 all in the spring term 2 points, 3 comments
u/LevelBusiness7453: “Alright be real with me how cooked am I? Some backstory - So earlier this semester I dropped 212 due to doing poorly on the midterm and failed 273 at the end of the semester. …”
u/Bobcat_77_: “https://uwaterloo.ca/school-of-accounting-and-finance/students/frequently-asked-questions/course-selection-and-academic-requirements-faq::text=If%20a%20student%20is%2C%20for,for%20visualizing%20their% …”
u/TeemoG0d69: “Why is there an FAQ for failing AFM 273 specifically? How many people do they fail with this class nowadays?”
AFM 273 final 5 points, 1 comment
u/Status_Grade9418: “Does it get curved?”
AFM 273 Slides 🙏🙏 3 points, 0 comments
u/OrdinaryOil2139: “Does anyone have the filled in slides for AFM 273 or pictures from class? I'm an idiot for not taking pics in class, highkey regret it now. If the person reading this has them pls hmu in Dms.”
afm 273 3 points, 1 comment
u/anita_mm: “Anyone in 2A dropped 273 with a WD? did you score better when you retook it? did you regret the WD? plz advice”
Afm 273 tutor 1 point, 1 comment
Feeling lower than ever. How do you guys deal with failing and depression? 23 points, 15 comments
u/whitecurtains1: “I recently failed my AFM 273 midterm. I feel very awful about it even though 50% of the class failed as well. It is a core requirement for a CPA license. …”
u/SignalTell481: “Hey guys, I recently failed my midterm for AFM 273, I got a 36% (midterm and final worth 35 percent each). I don't know what to do right now and would like some advice. …”
Tips for AFM 273 4 points, 0 comments
u/poppy_poppin90: “upper year afm students plzz help!!! how does one even succeed in afm 273? what are some tips u wish someone told u when u were in 2a”
Spring 2024
AFM 2A timetable advice 4 points, 8 comments
u/OrdinaryOil2139: “… 1st half: AFM 212, AFM 273, AFM 205, PD 1, CLAS 104 2nd half: AFM 212, AFM 273, AFM 206, AFM 207, AFM 208, PD 1, CLAS 104 (205 and 207 are the most difficult) I am trying to find a balance in my schedule. …”
AFM 2A difficulty 2 points, 5 comments
“Hi everyone. With school approaching soon, I'm nervous going into my second year. I heard in AFM that it gets way more complicated as you progress. …”
u/Menaces2004: “I’m in SFM so slightly different but I would say the biggest class to focus on would be AFM 273 - keep up with the coursework throughout the term and you should do fine. …”
Winter 2024
afm midterm 1 point, 1 comment
“afm 182 midterm tmrw and im so confused why all my 1b midterms are like 35% of my grade? This class doesnt even give mock midterms to practice and the concepts are so generealized? …”
u/Live-Orchid-4180: “Main upper year courses midterms will be worth around 30-40% and exam could be upto 45%. Afm 291 midterm is worth 30% and exam is 45%. Afm 273 midterm is 30% i believe. Afm 373 and 382 are 30% too.”
Failed Course (Petition Allowed?)- 2A 5 points, 2 comments
u/RecommendationNo7684: “… I still managed to get over 70s in all other courses, except this course (AFM 273). Let me know If I would be able to just petition this one course, I asked my academic advisor, but she wasn't very helpful and was unsure. …”
Fall 2023
AFM 273 midterm 8 points, 10 comments
u/Menaces2004: “Just recently got a 60 on the AFM 273 midterm when the average was like a 75. I’ve never done this bad on a midterm before, especially cause I felt like I studied alot and left it feeling pretty confident. …”
Check it elsewhere for Fall 2026
- Undergraduate Calendar, 2026–27The official entry
- Requirements for Fall 2026Waterloo’s requisite checker
- Schedule of Classes, Fall 2026Instructors, rooms, live seats
- Quest Class SearchWhere you enrol
- Course outlinesSyllabi from past terms (UW login)
- UW FlowStudent ratings and reviews
- WClassesPast sections back to 2004, and who taught them