maymester (3w1 2016 monday thursday 8:30 to … mcdaniel...instructor: lisa k. mcdaniel, cfa office...
TRANSCRIPT
FINA3770.007IntroductiontoFinanceMaymester(3W1)2016
Monday-Thursday8:30to12:20,BLB155Instructor:LisaK.McDaniel,CFAOfficeHours:Monday&Wednesday1:30–2:30pmorbyappointmentOffice:BLB331ETelephone:940-565-3059E-mail:lisa.mcdaniel@unt.eduPleaseusemyUNTemailratherthantheBlackboardemailfunction,asIcheckthisregularlyandwillbeabletorespondmorequicklytoyourconcerns.Youmustreferencethecourse(FINA3770)inthesubjectofyouremail.
PleasenotethatemailsenttomyUNTemailaddressmayoccasionallybesenttoaspamfolder.Ifyoudonothearbackfrommewithinafewdayspleasecontactmeagainorseemeinclass.AlsonotethatnoinformationaboutyourgradescanbediscussedorrelayedotherthaninpersonorthroughBlackboard.
Ifyoucallmyofficeandreceivemyvoicemail,pleaseleaveamessageincludingyourname,telephonenumberandreasonforcallingifyouwantmetoreturnyourcall.Idonotreturnmissedcallsifthereisnovoicemail.
CourseMaterialsText(REQUIRED):FundamentalsofCorporateFinance,3rdeditionbyBerk,DeMarzoandHarford.Thereareafewdifferentoptionsforpurchase.YoucanbuythebookattheUNTbookstore,oryoucanpurchaseeitheraprintorelectroniceditiondirectlyfromPearson’swebsite:
http://www.mypearsonstore.com/bookstore/fundamentals-of-corporate-finance-9780133507676?xid=PSED OptionalMyFinanceLabisanonlinemodulethatcanbeusedforpracticehomework.Youcanpurchasethiswithyourtextbookorseparately.YouwillneedthefollowingCourseIDtologin:mcdaniel69639.
Calculator(REQUIRED)Afinancialcalculatorisrequiredforin-classuse,forquizzesandforexams.Yourcalculatorshouldbeabletosolveforinternalratesofreturnusingunevencashflows,suchastheTIBAIIPluscalculatorortheHP12C.However,noprogrammableinformationisallowedinthecalculatorthatyouuseforexams.Youwillberequiredtoclearthecalculatorofanyprogrammedinformationbeforestartingtheexam.
IwillusetheTI-BAIIPlusinclass.Tutorialsonhowtousethiscalculatorcanbefoundhere:http://www.atomiclearning.com/ti_ba2
BlackboardLearnThiscoursewilluseBlackboardLearnforassignments,lecturenotes,grades,etc.Youareresponsibleforcheckingregularlyforannouncementsandnewcontent.Togetstartedwiththecourse,pleasegoto:https://learn.unt.edu
YouwillneedyourEUIDandpasswordtologintothecourse.IfyoudonotknowyourEUIDorhaveforgottenyourpassword,pleasegoto:http://ams.unt.edu.
CourseObjectives:Thecourseisintendedtoprovidestudentswithanoverviewofthebasicconceptsandprinciplesofcorporatefinanceandfinancialmathematics,withparticularemphasisonrisk,ratesofreturn,valuationandfinancialanalysis,andtheopportunitytopracticeproblem-solvingskillstosolvecommonfinancialproblems.
CourseDescription:Thiscourseisanintroductiontofinanceandfinancialmathematics.Itisdesignedforallbusinessstudents,notjustfinancemajors.Itprovidesanoverviewofthefollowingconcepts:
• moneyandthebankingsystem• interestandpresentvaluecalculations• financialinformationanalysis• financialdecision-making• securitymarkets.
Prerequisites:Completionofpre-businessrequirements,includingACCT2010andACCT2020orequivalentwithgradesofCorbetter.
TheFIRELDepartmentrequirescompletingallprerequisitespriortotakingFINA3770.TheFINA3770syllabusandthefinancetextbookaredesignedaroundtheassumptionthatstudentspossesstheequivalentknowledgeofastudentthathassuccessfullycompletedallofitsprerequisites.FINA3770cannotreplacetheknowledge,skills,andmindsetdevelopedinthesecoursessostudentswithouttheprerequisitecourseshave,inthepast,haddifficultyincompletingthecourserequirementsofFINA3770successfully.
AbouttheCourse:Inthisclasswecombinereadingswithpractice.Iwillalsointroducesomematerialthatisnotinthetextbook,soattendanceisimportant.Homeworkisanessentialpartoftheclasseventhoughitisnotgraded.Aftereachlecture,youwillworkproblemsdesignedtoreinforceyourunderstandingandabilitytousetheinformationcovered.Doingsowillhelpyoumasterthequizzesandexamsthataregraded.
Homework&quizzesfocusonmaterialpresentedinthelecture,majorchapterconcepts,andtextbookexamples.Thequizzeswillalsointroduceyoutothetypesofquestionsyouwillseeontheexams.
GradingPolicy:
Quizzes 25%
MidtermExams(2) 50%
FinalExam 25%
GradingScale:
90%-100% A
80-89.9% B
70-79.9% C
60-69.9% D
59.9%orbelow F
MyExpectations:• Iexpectyoutoreadthetextandtakenotes,attendclassandparticipateindiscussionduring
class,mastertheweeklyhomeworksets,taketheweeklyquizzesandexamsthroughouttheterm.
• Readeachchapterbeforethelecture.
• ARRIVETOCLASSONTIME.On-timearrivalshowsrespectforbothfellowstudentsandfacultyandenhanceslearningbyreducingdistractions.Onceyouareinclass,staythere.Donotwalkinandoutorleaveearly.
• Listen,takenotesandaskquestionsduringthelecture.Theslidesprovidedareintendedasanoverviewofchapterconceptsbutarenotsufficientnotesontheirown.
• Aftereachlecture,reviseyournotesasneeded,andthenattemptthechapter’shomeworkproblems.Usetheanswerkeys,MyFinanceLab,discussionboards,amemberofyourstudygroup,orphoneorvisitmeduringmyofficehourstomasterthemoredifficultproblems.
• Classparticipationiscrucialforyourunderstandingofthekeyconcepts,examplesandquestions.Wewillspendtimeinclassworkingexamplesandproblemsbothasaclassandinsmallgroups.Thiswillgiveyoutheopportunitytoaskmeforhelpwithyourspecificconcerns.
• Iholdyouresponsibleforallmaterialcoveredduringclass,includingchangestothesyllabus,courseschedule,andcoursematerials.Ifyoumissaclass,itisyourresponsibilitytoobtainanyhandoutsornotesfromotherstudentsinclass.
Teamwork:YourSkillsandBackgroundsDiffer.Asfaculty,weassumeadequateknowledgeofeconomics,algebra,calculusandspreadsheetandwordprocessingskillswillexistinallbusinessschoolstudentssowewilldevelopsomeofthoseskillsinthisclass.Whileeverythingthatyouneedtorememberfromothercoursesisreviewedbrieflyintheappropriatesectionofthiscourse,youmayneedtorefertoothertextbooks,theresourcesavailableinthelibrary,andyourfellowclassmatestobeabletomastereveryconceptinthiscourse.Istronglyrecommendthatyouworktogetherinstudyteams.However,thereisnocollaborationallowedonquizzesorexams.
FinanceTutorLabHomeworkAssistance:TheFinanceAcademicAssistanceLabhashoursduringtheweekandoffersemailaccess.Itisagreatplacetogotolearnfinance.PleasedropbytheFinanceTutorLabtodoyourhomeworkinaplacewhereyoucanaskfellowstudentssomequestions.Thelab(BLB132)islocatedinthenortheastcornerofthefirstfloorintheBusinessLeadershipBuilding.Moreinformationisavailableathttp://www.cob.unt.edu/lab/tutor.php.
GeneralPolicies:
Exams:Wewillhavetwomidtermexamsandonecomprehensivefinalexam(proctoredinaclassroomoncampus,onpaper,closed-book,closed-note).THEREWILLBENOMAKEUPEXAMS.Areferencesheetwithanynecessaryformulaswillbeprovidedforyou.PleasenotethatIwillnotanswerexam-related
questionsinthe24-hourperiodbeforeanexam.
Afinancialcalculatorwithallprogrammabletextclearedisrequiredforeachexam.Nootherinformationcanbeusedonthemidtermsorfinalexam,unlesspreviouslyauthorized.Cellphonesarenottobeusedasasubstituteforacalculator.
Alllaptops,tablets,cellphones,pagers,two-waycommunicationsdevices,andanyelectronicdeviceotherthanthefinancialcalculatorsapprovedforthisclassmustbeturnedoffandputawayduringtheexams.Hatsmustberemovedandearphones/earbudscannotbeusedduringtheexam.
Youarenottoleavetheclassroomduringanexamunlessthereisanemergencyandyoureceivepermissionfromtheproctororme.
Youarenotallowedtocollaborateonanymidtermexamoronthefinalexam.Unauthorizedcollaborationistreatedasacademicdishonesty.
ExamRetention:Ikeepallquizandexampapers.Onceyoufinishaquizorexam,youwillhandinyouranswersheet.Iwillgothroughthequizorexamimmediatelyafteritconcludes.Oncetherecapiscomplete,youmusthandinyourexamaswell.IfIfindanyexamcopiesmissingyourgradewillbepermanentlychangedto0.Youarealwayswelcometocometomyofficetoreviewpastexams.
IncompleteGrades:AgradeofincompletecanonlybeassignedifyouareincompliancewiththeUniversitypolicyregardingincompletegrades.Youmustseemetoarrangeanincompletebeforethefinalexamisadministered.
Extracredit:Thereisnoopportunityforextracreditormake-upworktoraiseyourgrade.Pleasedonotask.
Attendance:Youwillneedtochooseaseatandstaytherefortheentiresemester.Aseatingchartwillbecreatedduringthesecondweekofclass.Ireservetherighttochangetheseatingpatternduringexams.Theclassisinteractive,andyourparticipationinclassdiscussionsisimportant.Failingtoparticipatewilldirectlyimpactyourgrade.
E-mailaccounts:AllstudentsshouldactivateandregularlychecktheirEagleConnect(e-mail)account.EagleConnectisusedforofficialcommunicationfromtheUniversitytostudents.ManyimportantannouncementsfortheUniversityandCollegearesenttostudentsviaEagleConnect.ForinformationaboutEagleConnect,includinghowtoactivateanaccountandhowtohaveEagleConnectforwardedtoanothere-mailaddress,visithttps://eagleconnect.unt.edu/.
TechnicalRequirements/Assistance:Thefollowinginformationhasbeenprovidedtoassistyouinpreparationforthetechnologicalaspectofthecourse.
UITHelpDesk:http://www.unt.edu/helpdesk/index.htmHardwareandsoftwarenecessarytouseBbLearn:http://www.unt.edu/helpdesk/bblearn/Browserrequirements:http://kb.blackboard.com/pages/viewpage.action?pageId=84639794ComputerandInternetLiteracy:http://clt.odu.edu/oso/index.php?src=pe_comp_litNecessaryplug-ins:http://goo.gl/1lsVFInternetAccesswithcompatiblewebbrowser
AccommodationforDisabilities:TheCollegeofBusinessAdministrationcomplieswiththeAmericanswithDisabilitiesActinmakingreasonableaccommodationforqualifiedstudentswithdisabilities.IfyouhaveanestablisheddisabilityasdefinedintheAmericanswithDisabilitiesActandwouldliketorequestaccommodation,pleasenotifymeassoonaspossible.ForadditionalinformationseetheOfficeofDisabilityAccommodationwebsiteathttp://disability.unt.edu.Youmayalsocontactthembytelephone
at(940)565-4323.
AcceptableStudentBehavior:Studentbehaviorthatinterfereswithaninstructor’sabilitytoconductaclassorotherstudents'opportunitytolearnisunacceptableanddisruptiveandwillnotbetoleratedinanyinstructionalforumatUNT.StudentsengaginginunacceptablebehaviorwillbedirectedtoleavetheclassroomandtheinstructormayreferthestudenttotheDeanofStudentstoconsiderwhetherthestudent'sconductviolatedtheCodeofStudentConduct.Theuniversity'sexpectationsforstudentconductapplytoallinstructionalforums,includinguniversityandelectronicclassroom,labs,discussiongroups,fieldtrips,etc.TheCodeofStudentConductcanbefoundathttp://deanofstudents.unt.edu.
AcademicDishonesty:Studentscaughtcheatingorplagiarizingwillreceivea"0"forthatparticularassignmentorexam.Additionally,theincidentwillbereportedtotheDeanofStudents,whomayimposefurtherpenalty.Inmyclasses,theappropriationoruseofoldtestsorpublishertestbanksforanypurposeisnotauthorizedandthereforeconstitutescheating.
AccordingtotheUNTcatalog,theterm"cheating"includes,butisnotlimitedto:a)useofanyunauthorizedassistanceintakingquizzes,tests,orexaminations;b)dependenceupontheaidofsourcesbeyondthoseauthorizedbytheinstructorinwritingpapers,preparingreports,solvingproblems,orcarryingoutotherassignments;c)theacquisition,withoutpermission,oftestsorotheracademicmaterialbelongingtoafacultyorstaffmemberoftheuniversity;d)dualsubmissionofapaperorproject,orresubmissionofapaperorprojecttoadifferentclasswithoutexpresspermissionfromtheinstructor(s);ore)anyotheractdesignedtogiveastudentanunfairadvantage.
Theterm"plagiarism"includes,butisnotlimitedto:a)theknowingornegligentusebyparaphraseordirectquotationofthepublishedorunpublishedworkofanotherpersonwithoutfullandclearacknowledgment;andb)theknowingornegligentunacknowledgeduseofmaterialspreparedbyanotherpersonoragencyengagedinthesellingoftermpapersorotheracademicmaterials.
ModificationsduringtheSemester:AlthoughIdonotintendtovarysubstantiallyfromthissyllabus,Imaychangeparticularpoliciesandassignmentslistedonthissyllabusduringthesemestertobetterenhancelearninginthisclassortocorrecttypographicalerrors.AllofthesechangeswillbeannouncedinclassandonBlackboard.Pleasewatchtheannouncementstoinsurethatyoufindoutifanypoliciesorduedatesforassignmentshavebeenchangedoradded.
YourSuccess:UNTendeavorstoofferyouahigh-qualityeducationandtoprovideasupportiveenvironmenttohelpyoulearnandgrow.And,asafacultymember,Iamcommittedtohelpingyoubesuccessfulasastudent.Here’showtosucceedatUNT:Showup.Findsupport.Takecontrol.Beprepared.Getinvolved.Bepersistent.
Tolearnmoreaboutcampusresourcesandinformationonhowyoucanachievesuccess,gotosucceed.unt.edu.
StudentPerceptionsofTeaching(SPOT)Studentfeedbackisimportantandanessentialpartofparticipationinthiscourse.ThestudentevaluationofinstructionisarequirementforallorganizedclassesatUNT.TheshortSPOTsurveywillbemadeavailableMay30th–June1sttoprovideyouwithanopportunitytoevaluatehowthiscourseistaught.Forthespring2016semesteryouwillreceiveanemailonMay30th(12:01a.m.)from"UNTSPOTCourseEvaluationsviaIASystemNotification"([email protected])withthesurveylink.PleaselookfortheemailinyourUNTemailinbox.Simplyclickonthelinkandcompleteyoursurvey.Onceyou
completethesurveyyouwillreceiveaconfirmationemailthatthesurveyhasbeensubmitted.Foradditionalinformation,[email protected].
Schedule(tentativeandsubjecttochange)Class Date Chapter Topic AssignmentDue
1 16-May Introduction,reviewofsyllabus1CorporateFinanceandtheFinancialManager ReadCH1&2
2 IntrotoFinancialStatementAnalysis HomeworkCH1&2
2 17-May34
QuizCH1&2TimeValueofMoney:AnIntroductionTVMValuingCashFlowStreams
ReadCH3&4HomeworkCH3&4
3 18-May45
QuizCH3-4TVMValuingCashFlowStreamsInterestRates
ReadCH5HomeworkCH5
4 19-May1-56MidtermExam1Bonds
ReadCH6HomeworkCH6
5 23-May78
QuizCH6StockValuationInvestmentDecisionRules
ReadCH7&8HomeworkCH7&8
6 24-May9
10
QuizCH7-8FundamentalsinCapitalBudgetingStockValuation:ASecondLook
ReadCH9&10HomeworkCH9&10
7 25-May6-10
11MidtermExam2RiskandReturninCapitalMarkets
ReadCH11HomeworkCH11
8 26-May 12QuizCH11SystematicRiskandtheEquityRisk
ReadCH12HomeworkCH12
30-May MemorialDay
9 31-May 13QuizCH12TheCostofCapital
ReadCH13HomeworkCH13
10 1-Jun13 TheCostofCapital
QuizCH1311 2-Jun 11-13 FinalExam