FIN 3460 A02 (3 CH) Financial Markets and Institutions Winter Drake, W pm

Transcription

1 FIN 3460 A02 (3 CH) Financial Markets and Institutions Winter Drake, W pm CONTENTS INSTRUCTOR... 1 COURSE DESCRIPTION... 1 COURSE OBJECTIVES... 1 COURSE MATERIALS... 2 COURSE FORMAT... 2 ASSESSMENT OF LEARNING... 2 MISSED EXAM AND LATE SUBMISSION POLICY... 3 ATTENDANCE POLICY... 4 ELECTRONIC DEVICE POLICY... 4 OUT-OF-CLASS COMMUNICATION... 4 CLASS SCHEDULE... 5 IMPORTANT DATES... 5 INTENDED LEARNING OUTCOMES... 6 ACADEMIC INTEGRITY POLICY... 7 STUDENT SERVICES AND SUPPORTS... 8 ABOUT THE INSTRUCTOR INSTRUCTOR Name: Alok Dua Office: 372 Drake Centre Phone: duaa@umanitoba.ca Office hours: M/T/W/R pm, or by appointment COURSE DESCRIPTION A study of financial systems with emphasis on Canada. Major topics include monetary policy, financial markets, financial institutions, financial regulation and risk management. Required Prerequisite: Corporation Finance FIN 2200 with a grade of C+ or above. COURSE OBJECTIVES This course provides students with an overall understanding about financial markets and institutions. COURSE MATERIALS 1. Mishkin and Eakins, Financial Markets & Institutions, 9 th Edition, Prentice Hall, 2017,

2 ISBN Hewlett Packard HP-10BII financial calculator or other higher level financial calculators Class notes on UM LEARN Please respect copyright laws. Photocopying textbooks or other reading material is a violation of copyright laws and is unethical, unless permission to copy has been obtained. COURSE FORMAT The course will be based on a combination of lectures and qualitative and quantitative exercises. ASSESSMENT OF LEARNING There will be six components to the grading: Mid Term 20% Class Participation 12.5% Presentation 12.5% Final Exam 55% I will be using the following letter-grading scheme: Marks Letter Grade 92 and above A A B B C C D Below 50 F (a) A group presentation will have to be made by all students (10 marks) Presentation can be on any of the following topics Presentation Topics: Overview of the Federal Reserve System: Origin, Structure, Functions, and Independence Money Market Instruments 1: Treasury Bills, Federal Funds, and Repos 2 of 10

3 Money Market Instruments 2: CDs, Commercial Paper, and Eurodollar Bonds: Treasury Notes and Bonds, Municipal Bonds, and Corporate Bonds Canadian Stock Markets: History, Current Situation and Future (Not in the Textbook) Stock Market Indices: Describe and compare major stock market indices (Dow Jones Industrial, NASDAQ, S&P500, S&P/TSX ) Mortgage Backed Securities: Motivation, Definition, Characteristics of different types of Mortgage Backed Securities Commercial Banking Industry in Canada and the US: current situation, major differences between the two countries, possible explanations (Only partially in the Textbook) Credit Unions and Caisses Populaires in Canada (Not in the Textbook) Savings and Loan Industry in the US Credit Unions in the US Mutual Funds Hedge Funds Life Insurance Companies: products, assets and liabilities P&C Insurance Companies: products, assets and liabilities Pension Plans: Definition, Types, Regulation, Future Venture Capital Firms: Role, Organization, Operation Finance Companies: Purpose, Types, Businesses, Assets and Liabilities, Historical Trend and Future Other topics you are interested in (must be approved by the professor before you start preparing) Each group will present the chosen topic for about 15 minutes. All members have to participate. (b) Mid-term exam: Will be multiple choice only or multiple choice plus fill in the blank questions. (c) Final Exam: (Comprehensive) the final exam might have multiple choice, short/long answer questions and some case situations. 3 of 10

4 (d) Participation. (12.5 % of total marks) Participation is very important. As it is a very big class we will have less opportunity to participate for each person so please make the full use of the opportunity when it arise. I will supplement the class participation marks with additional homework given in the class from time to time. MISSED EXAM AND LATE SUBMISSION POLICY If you miss an exam or an assignment for medical reasons, your score will be added to the final exam. Asper School also has a list of events for which accommodations will be made for a missed term exam (not final exam) in that case also your score will be added to the final exam. There will be no make-up exams. Do not make travel plans before the Final Exam. I cannot give a make-up because you booked a flight ticket for a date earlier than the scheduled final exam. In the event you have to miss the Final Exam for a valid reason as noted above, a request for a deferred exam must be made at your home Faculty s Undergraduate Program Office (268 Drake, if you are an Asper student). As explained earlier, late submissions or assignments or project will lose 1 mark per day s delay. ATTENDANCE POLICY You are allowed to miss a maximum of 3 classes without a valid excuse. Excused absences include a medical reason (with doctor s note), travel for an approved academic event as per this Faculty-approved list of events, death of a close family member, or religious observation. In each of the above cases, documentation will be required. No other reason is considered a valid excuse. If a student has over 5 unexcused absences, it will result in an automatic F grade in the course, as per the Asper School s Department Policy. There will be no exceptions to this rule. If you feel you will miss more than 5 classes without a valid excuse, you are strongly encouraged to VW if possible. Attendance may be taken in the class. Arriving in class over 10 minutes late or leaving more than 10 minutes early (without my prior approval) will be considered absent for that class. Marking attendance for a friend who is absent is Academic Dishonesty and will be dealt with severely. ELECTRONIC DEVICE POLICY You may to use a laptop or tablet for note-taking. If you are using a laptop, please sit in the last row to avoid distracting those sitting behind you. Practice self-control don t browse the Internet or check your /social media messages in class. You may be interested in reading this article. You are not allowed to use a cell phone in class, even if it were to access UM Learn or take notes. Switch your phone to silent mode before class begins. Texting during class will result in a 1 mark penalty in the course grade; the penalty will double for every subsequent incidence of your texting. If you wish to audio/video record any lectures, please obtain my permission before doing so. 4 of 10

5 OUT-OF-CLASS COMMUNICATION PowerPoint files, assignment/project guidelines, other class-related files, and grades will be posted on UM Learn. Moreover, any announcements outside of class will be sent by from UM Learn. It is your responsibility to check your UofM account frequently so that you don t miss these s. There are many questions that cannot be answered succinctly over . If you me a question, please consider whether it can be easily and effectively answered by . If it cannot, please talk to me before or after class. If I receive a question that is difficulty to answer electronically or will require a lengthy response, I will ask you to meet with me to discuss instead. REFERENCING STYLE FOR WRITTEN WORK In the group project for this course, you are expected to use the APA style of referencing, for both the intext citations and the Bibliography. To learn about the APA style, please consult a librarian in the Management Library or look up CLASS SCHEDULE TENTATIVE Lecture Topic Chapter Jan 9 Overview of the Financial Markets and Institutions 1-2 Jan 16,23 The Fundamentals of Interest Rates 3-5 Jan 23 Central Banks and the Bank of Canada 9 Jan 30 Monetary Policy 10 Jan 30 The Money Markets 11 Feb 6 The Capital Markets Feb 13 The Mortgage Markets 14 Feb 13 Mid term; Chapters 1-5, 9-13 Feb 27, Mar 6 The Foreign Exchange Market Mar 13 Overview of Banks 17, 19 Mar 13 Banking Regulation 18 Mar 20 Mutual Funds 20 Mar 20 Insurance Companies and Pension Funds 21 Mar 27 Investment Banks, Security Brokers and Dealers, Venture 22 Capital Firms Mar 27 Risk Management in Financial Institutions 23 Apr 3 Presentations IMPORTANT DATES Midterm - Feb 13 VW deadline - Mar 20 Final Exam - to be announced 5 of 10

6 INTENDED LEARNING OUTCOMES AACSB Assurance of Learning Goals and Objectives. The Asper School of Business is proudly accredited by AACSB. Accreditation requires a process of continuous improvement of the School and our students. Part of student improvement is ensuring that students graduate with the knowledge and skills they need to succeed in their careers. To do so, the Asper School has set the learning goals and objectives listed below for the Undergraduate Program. The checked goal(s) and objective(s) will be addressed in this course and done so by means of the items listed next to the checkmark. Goals and Objective in the Undergraduate Program 1 Quantitative Reasoning A. Determine which quantitative analysis technique is appropriate for solving a specific problem. B. Use the appropriate quantitative method in a technically correct way to solve a business problem. Goals and Objectives Addressed in this Course Ch 14, 23 Course Item(s) Relevant to these Goals and Objectives Ch 3,4,5,14,15,16,23 C. Analyze quantitative output and arrive at a conclusion. Ch 3,4,5,14,15,16,23 2 Written Communication A. Use correct English grammar and mechanics in their written Final Exam work. B. Communicate in a coherent and logical manner Presentation C. Present ideas in a clear and organized fashion. Presentation 3 Ethical Thinking A. Identify ethical issues in a problem or case situation Ch 8 B. Identify the stakeholders in the situation. Chapter 1 C. Analyze the consequences of alternatives from an ethical standpoint. Through out most chapters D. Discuss the ethical implications of the decision. Through out most chapters 4 Core Business Knowledge Entire course 6 of 10

7 ACADEMIC INTEGRITY POLICY It is critical to the reputation of the Asper School of Business and of our degrees that everyone associated with our faculty behave with the highest academic integrity. As the faculty that helps create business and government leaders, we have a special obligation to ensure that our ethical standards are beyond reproach. Any dishonesty in our academic transactions violates this trust. The University of Manitoba General Calendar addresses the issue of academic dishonesty under the heading Plagiarism and Cheating. Specifically, acts of academic dishonesty include, but are not limited to: using the exact words of a published or unpublished author without quotation marks and without referencing the source of these words duplicating a table, graph or diagram, in whole or in part, without referencing the source paraphrasing the conceptual framework, research design, interpretation, or any other ideas of another person, whether written or verbal (e.g., personal communications, ideas from a verbal presentation) without referencing the source copying the answers of another student in any test, examination, or take-home assignment providing answers to another student in any test, examination, or take-home assignment taking any unauthorized materials into an examination or term test (crib notes) impersonating another student or allowing another person to impersonate oneself for the purpose of submitting academic work or writing any test or examination stealing or mutilating library materials accessing test prior to the time and date of the sitting changing name or answer(s) on a test after that test has been graded and returned submitting the same paper or portions thereof for more than one assignment, without discussions with the instructors involved Group Projects and Group Work Many courses in the Asper School of Business require group projects. Students should be aware that group projects are subject to the same rules regarding academic integrity. All group members should exercise special care to ensure that the group project does not violate the policy on Academic Integrity. Should a violation occur, group members are jointly accountable unless the violation can be attributed to specific individuals. Some courses, while not requiring group projects, encourage students to work together in groups before submitting individual assignments. If it s unclear whether it is allowed, students are encouraged to seek clarification from the instructor to avoid violating the academic integrity policy. In the Asper School of Business, all suspected cases of academic dishonesty in undergraduate courses are reported to the Dean's office and follow the approved disciplinary process. See following table for typical penalties for academic dishonesty in the Asper School. 7 of 10

8 Typical Penalties for Academic Dishonesty in the Asper School If the student is from another Faculty and the academic dishonesty is committed in an Asper course, the student s Faculty could match or add penalties beyond the Asper School s. F-DISC on transcript indicates the F is for disciplinary reasons. ACADEMIC DISHONESTY Cheating on exam (copying from or providing answers to another student) Sharing exam questions electronically during exam Possession of unauthorized material during exam (e.g., cheat notes) Altering answer on returned exam and asking for re-grading Plagiarism on assignment Submitting paper bought online Inappropriate Collaboration (collaborating with individuals not explicitly authorized by instructor) Group member had knowledge of inappropriate collaboration or plagiarism and played along Signing Attendance Sheet for classmate PENALTY Suspension from taking Asper courses for 2 years Impersonation on exam Expelled from the University of Manitoba and reported to Winnipeg Police 8 of 10

9 STUDENT SERVICES AND SUPPORTS The University of Manitoba provides many different services that can enhance learning and provide support for a variety of academic and personal concerns. You are encouraged to visit the below websites to learn more about these services and supports. If you have any questions, please do not hesitate to contact your instructor or the Undergraduate Program Office. For Information on Admission, Registration, Tuition Fees, Important Dates, Final Exams, Graduation, and Transcripts Academic policies & procedures, regulations, Faculty-specific information, degree and major requirements Help with research needs such as books, journals, sources of data, how to cite, and writing Tutors, workshops, and resources to help you improve your learning, writing, time management, and test-taking skills Support and advocacy for students with disabilities to help them in their academic work and progress Copyright-related questions and resources to help you avoid plagiarism or intellectual property violations Student discipline bylaws, policies and procedures on academic integrity and misconduct, appeal procedures Policies & procedures with respect to student discipline or misconduct, including academic integrity violations Students rights & responsibilities, policies & procedures, and support services for academic or discipline concerns Your rights and responsibilities as a student, in both academic and non-academic contexts Full range of medical services for any physical or mental health issues Information on health topics, including physical/mental health, alcohol/substance use harms, and sexual assault Any aspect of mental health, including anxiety, stress, depression, help with relationships or other life concerns, crisis services, and counselling. Support services available for help regarding any aspect of student and campus life, especially safety issues Resources available on campus, for environmental, mental, physical, socio-cultural, and spiritual well-being Help with any concerns of harassment, discrimination, or sexual assault Concerns involving violence or threats, protocols for reporting, and how the university addresses them follow this link Registrar s Office Academic Calendar Library Resources Writing and Learning Support Student Accessibility Services Copyright Office Academic Integrity Student Discipline Student Advocacy Your rights and responsibilities University Health Service Health and Wellness Student Counselling Centre Student Support Case Management Live UofM Respectful Work and Learning Environment Violent or Threatening Behaviour 9 of 10

10 ABOUT THE INSTRUCTOR Alok Dua, MBM, MSc, B (Chem) E Instructor Areas of Research Interest: Fuzzy and heuristic modeling in Operation management area Areas of Teaching Interest: International finance, International management and Business Policy Mr. Dua is one of the best professors at Asper Business School with vast teaching experience and interests. He has won 7 teaching awards over the last 11 years at Asper Business School. Prior to joining 10 of 10