FINA 5040.002 / 5040.080 Introduction to Finance and Financial Mathematics: Internet/Online Course Spring 2017 Instructor: Niranjan Tripathy, Ph.D., CFA Office: BLB 329 E Telephone: 940 565 3045, tripathy@unt.edu Internet course site: UNT s Blackboard Learn (learn.unt.edu) and McGraw Hill Connect Finance (linked to UNT s Blackboard Learn) Office Hours: Wednesdays 5:00 6:30 pm, Thursdays 2:00 3:30 pm, and by appointment. I will also schedule online chats as needed and announce those in advance. Please use my UNT email rather than the Blackboard email function, as I check this continually and will be able to respond more quickly to your concerns. Put FINA 5040 in the subject line. Course Description: FINA 5040. Introduction to Finance and Financial Mathematics. 1.5 hours. Understanding of finance terms, procedures and concepts used by managers in making financial decisions. Basic concepts and techniques of finance; the role of financial markets and institutions, interest rates, inflation and yield curve determinants; analysis and interpretation of financial mathematics to understand the time value of money; and bond and stock valuation models. Course meets the background requirement of finance for MBA candidates and may be counted as part of the graduate program in a field other than business. Course Objectives: The course is intended to provide students with an overview of the basic concepts and principles of corporate finance and financial mathematics, with particular emphasis on risk, rates of return, valuation and financial analysis, and the opportunity to practice problem solving skills to solve common financial problems. Prerequisites: ECON 5000 or equivalent. MATH 1190 or equivalent. The FIREL Department requires completing all prerequisites prior to taking FINA 5040. Required Text and Material: 1. An online text developed especially for you. This includes McGraw Hill Education Connect access and the ebook Fundamentals of Corporate Finance 11th edition by Ross, Westerfield and Jordan. The access code to Connect comes with the ebook. Although you are not required to have a print text, a print upgrade option is also available via Connect. This will be a full color binder ready version of the text. You will need the Connect module for homework. 2. You will also need a financial calculator, either the TI BA II Plus, the HP 10 B or the HP 12C. If you wish to use a different calculator, you must contact me for approval first. 3. You must also read the Wall Street Journal regularly during the course. You are eligible for a free subscription through the Graduate Programs Office. Go to the COB Graduate Programs
website, http://www.cob.unt.edu/programs/masters/wsj_sub.php to subscribe. Reading the WSJ and other business publications is an important habit for everyone employed or interested in a business discipline. Purchasing your Textbook: You can purchase the ebook and Connect access by logging on to the course homepage on Blackboard and proceed to the Week One folder and click on first Connect assignment: Week 1 Practice Homework. This will take you to the link where you will be asked to register for a McGraw Hill Education account (or sign in if you have one already). The option to purchase an access code to the ebook and Connect will then be available. Please follow the step bystep instructions shown in a separate document: McGraw Hill Connect Instructions and Link, in the Welcome folder Once you have registered, you will have access to our textbook and to McGraw Hill Connect (the online homework and quiz web site for this class). This is the cheapest method possible for getting the content of our textbook and gives electronic feedback links to homework questions as you answer them on the practice examples. You can view the text onscreen through the viewer plug in, or print pages as you need them. Be sure that your printer is set to shrink to fit and print a three or four page portion of the book to check your settings before printing an entire chapter. The computers in the BLB have been set up with the necessary plug in to ʺonline viewʺ the ebook, and you will also get instructions to download it to your own computer when you purchase. About the Course: In this class we combine readings with practice. Homework is an essential part of the class. After each lecture, you will work problems designed to reinforce your understanding and ability to use the information covered. We have seven weeks to master the readings and homework for nine chapters. Weekly homework quizzes focus on material in the chapter and homework assigned for that week. During the week, you have unlimited randomized homework problems that you can work until you feel comfortable with the material. At the end of the week, you have two attempts to take a timed, on line weekly quiz at any time between Thursday 11:00 a.m. and Sunday 11:00 p.m. (84 hours) at the McGraw Hill Connect Finance web site. The weekly grade is the better of your two attempts. No collaboration is allowed but you have access to all of your notes and the textbook as you take the homework quizzes. I highly recommend completing the homework problems that I have assigned for that week s lecture well before starting the homework quiz. Discussion Postings tie the topics covered during the week to news and events in corporate finance so that you can reinforce the link between theory and practice. Because we have a large group this semester, it is easy for the discussion to get overwhelming. Nevertheless, it is important to participate and to read the posts of others. You must post at least one original comment each week, including a link to a news source or reference. Your post should be thoughtful and relevant, and will be graded for quality. You may choose to reply to the posts of others, but those replies will not be graded. Weeks begin Monday at 12:01 am and end the following Sunday at 11:59 pm. All times are measured using the time zone in Denton (Central Standard Time).
A comprehensive Final Exam is intended to verify that you have learned the material and are ready to proceed to the graduate corporate finance class. This exam is a proctored course exam. You have three options on when and where to take it: 1. Business Leadership Building (BLB) 010 (UNT Denton) Saturday, May 6, 2017 from 11 AM till 12:50 PM. 2. Arrange for a proctored test location at a location more convenient to you at any time during Saturday May 6 Monday May 8, 2017. You will pay for proctoring costs, if any, and make the arrangements with a location that meets the University of North Texas College of Business requirements for a trusted remote testing site. The site must be willing to accept and return the exam by email. You must notify me during Week 6 (using the exam request form in the Week 6 folder) which of these options you want to choose. Grading Policy: Discussion Board Postings for each week Weekly Online Quizzes (20 points each) Final Exam Total 120 points 140 points 240 points 500 points Grading Scale: 450 points or greater (90%) A 400 to 449 points (80 89.9%) B 350 to 399 points (70 79.9%) C 300 to 349 points (60 69.9%) D 299 points or fewer (59.9% or below) F Discussion Board Postings are participation based. For full credit do all of the following, each week: Post a topic on the assigned subject at least one time during the class week (starting Monday at 12:01 am and ending the following Sunday at 11:59 pm CDT). Include a link to a source, news article or reference in your post. Be sure your post is original. Posting early in the week gives you a much better chance for an original response. Weekly Online Quizzes will focus directly on the major chapter concepts, homework problems and textbook examples. The online quizzes, for weeks 1 6, will be available from 11 AM Thursday morning until 11 PM Sunday night, and for week 7, from 11 AM Wednesday morning until 11 PM Friday night. Please allow plenty of time to complete them. They are open book, open note but are timed to help better prepare you for the final exam. You may attempt each quiz twice, but will see different numbers and/or problems for each attempt. I use the better of the two grades. If you are satisfied with the first grade, you do not need to repeat the quiz. The Final Exam is worth 240 points and is comprehensive. It is an in class, closed book, closed note exam but you may prepare and bring a one page, front and back 8.5 x11 reference sheet. You must
bring your UNT ID or your State Driver s License to the final exam. Remote proctoring sites usually need a driver s license. Teamwork: Your Skills and Backgrounds Differ. As faculty, we assume adequate knowledge of economics, algebra, calculus and spreadsheet and word processing skills will exist in all MBA graduates so we will develop some of those skills in this class. While everything that you need to remember from other courses is reviewed briefly in the appropriate section of this course, you may need to refer to other textbooks, various resources available in the library, and your fellow classmates to be able to master every concept in this course. I strongly recommend that you work together in study teams. However, there is no collaboration allowed on quizzes or exams. My Expectations: I expect you to read the text and take notes, view the accompanying PowerPoint slides and lectures, participate in the weekly discussion on our classroom discussion boards, master the weekly homework sets, take the weekly quizzes and take a course exam at the end of the term. Read each chapter before as you start the week. After viewing the slides and lecture, revise your notes as needed, and then attempt the chapter s homework problems. Use the answer keys, discussion boards, conversations with members of your study group, phone me or visit me in my office hours, or go to the Finance Tutor Lab to master the more difficult problems. I expect you to spend about 3 hours of work outside of the lectures for every hour used for lectures. It will take about 1/2 hour to read the text (hint: answering chapter self test questions as you read will make sure that you can do well on the quizzes) and 2 ½ hours on homework for each lecture hour. What you ultimately spend depends on you. This course is manageable for all students regardless of math ability. It is a matter of individual effort and background, and the time requirements may be more or less depending on whom you are and what you know. Calculators: A financial calculator is required for in class use, for quizzes and for exams. Your calculator should be able to solve for internal rates of return using uneven cash flows, such as the TI BAII Plus calculator, the HP 10B or the HP 12C. You may use any of these three. If you would like to use a different calculator, please contact me first for approval. However, no programmable information is allowed in the calculator that you use for the final exam. You will be required to clear the calculator of any programmed information before starting the exam. This means that if you have programmed time value of money functions into a scientific calculator, they will not be available for the exam. Weekly Learning Goals: Each week, I have assigned chapters to read from the textbook, homework questions, and homework problems that you should master during the semester. My goal is to give you a foundation of skills that will enable you to learn and master financial theories and skills to successfully solve problems commonly encountered by business managers. During the period, I primarily cover the material with a combination of specific reading requirements, slide presentations, and electronic homework assignments. At the end of the week, the current week s material is covered through Online Quizzes. General Policies: Missed Exams and quiz grade appeals: Missed exams, including weekly quizzes and the final exam, will receive a grade of zero unless your absence is excused due to documented
circumstances approved by me in advance. In the case of a missed weekly quiz, I will add the points for an excused quiz to the final exam. The final is cumulative. Weekly quiz grade appeals must be submitted to me within one week from the date that the homework quiz is graded. You must write your appeal as a memorandum detailing why you believe that your question should be graded again and email it to me. I will review your homework quiz within one week. I can t interrupt the quiz while it is in progress so I will need to wait until the quiz closes. Office hours and help: You are welcome to discuss class issues with me at any time in my office hours or on the telephone with the following exception: Once you have started a homework quiz or the course exam, I will not answer questions about that material but will answer any other questions that you have regarding the course. Audiotaping and copyright: You may use the recorded lectures only in this course. They are copyrighted and not to be used or disseminated elsewhere. Participation: The class is interactive, and your participation in class discussions is important. Failing to participate will directly impact your grade. Incomplete Grades: A grade of incomplete can only be assigned if you are in compliance with the University policy regarding incomplete grades. Extra credit: There will be no extra credit or make up work to raise your grade. Please do not ask. E mail accounts: All students should activate and regularly check their EagleConnect (e mail) account. EagleConnect is used for official communication from the University to students. Many important announcements for the University and College are sent to students via EagleConnect. For information about EagleConnect, including how to activate an account and how to have EagleConnect forwarded to another e mail address, visit https://eagleconnect.unt.edu/. There is email embedded within Blackboard, but I do not check that email regularly. Please contact me at my UNT email address, tripathy@unt.edu and put FINA 5040 in the subject line. Accommodation for Disabilities: The College of Business Administration complies with the Americans with Disabilities Act in making reasonable accommodation for qualified students with disabilities. If you have an established disability as defined in the Americans with Disabilities Act and would like to request accommodation, please notify me as soon as possible. Academic Integrity: I adhere to the University Policy regarding academic integrity, found on the University s web site at http://vpaa.unt.edu/academic integrity.htm. Cheating and plagiarism are serious offenses and will not be tolerated, and may result in a failing grade in the class. The College s ethics statement for online students must be accepted and adhered to in this class. It is covered during Week 1 in the Welcome folder. Student Evaluation of Teaching: The FIREL department provides a questionnaire to get your ratings and comments on all of the department s classes at UNT. This short survey will be made
available to you at the end of the semester (after this class ends), providing you a chance to comment on how this class is taught. I am very interested in your feedback students, as I work to continually improve my teaching. I consider participation in the evaluation to be an important part of your involvement in this class and in all of your classes so please participate in the evaluation process. Modifications during the Semester: Although I do not intend to vary substantially from this syllabus, I may change particular policies and assignments listed on this syllabus during the semester to better enhance learning in this class or to correct typographical errors. All of these changes will be announced in class. Please watch the announcements to insure that you find out if any policies or due dates for assignments have been changed or added. Your Success: UNT endeavors to offer you a high quality education and to provide a supportive environment to help you learn and grow. And, as a faculty member, I am committed to helping you be successful as a student. Here s how to succeed at UNT: Show up. Find support. Take control. Be prepared. Get involved. Be persistent. To learn more about campus resources and information on how you can achieve success, go to succeed.unt.edu. Schedule: Week 1: Monday, March 20 Sunday, March 26. Introduction; syllabus overview. Get to know your calculator. Corporate finance, corporate governance, financial markets, general issues. Basic math and spreadsheet review. Week 2: Monday, March 27 Sunday, April 2. Accounting and finance; financial statements. Week 3: Monday, April 3 Sunday, April 9. Financial statement analysis. Week 4: Monday, April 10 Sunday, April 16. Financial planning and forecasting. Week 5: Monday, April 17 Sunday, April 23. Time value of money part 1 Week 6: Monday, April 24 Sunday, April 30. Time value of money and discounted cash flow. Week 7: Monday, May 1 Friday, May 5. More about markets, interest rates and bonds. Stocks and valuing the corporation. Final Comprehensive Exams: Saturday, May 6, 11am 12:50 pm at Business Leadership Building 010 (UNT Denton Campus) or a pre approved testing center. Note that the Final Exam is face to face
Topic Location Chapter/Author Course Week 1 Course Intro 3/20 3/26 Course Learning Objectives and content map Blackboard Welcome Folder Syllabus Blackboard Welcome Folder Syllabus Overview: Handout Blackboard Welcome Folder Syllabus Overview: Lecture Blackboard Welcome Folder McGraw Hill Connect Instructions and Link Blackboard Welcome Folder Using Discussion Boards: Handout Blackboard Welcome Folder Practice Discussion Board Blackboard Welcome Folder Using the Wall Street Journal Blackboard Welcome Folder General Questions, Comments and Concerns Blackboard Welcome Folder Yearbook Post Blackboard Welcome Folder Week 1 Learning Objectives and content map Blackboard Week 1 Folder Corporate Finance Overview: Reading Ross Chapter 1 Corporate Finance Overview: Handout Blackboard Week 1 Folder Corporate Finance Overview: Lecture Blackboard Week 1 Folder Video: The Role of the Chief Financial Officer Blackboard Week 1 Folder Week 1 Questions and Concerns Blackboard Week 1 Folder Week 1 Discussion Board Posting (graded) Blackboard Week 1 Folder Week 1 Practice HW (not graded for practice) Week 1 Online Quiz (graded) Week 2 Financial Statements 3/27 4/02 Week 2 Learning Objectives and content map Blackboard Week 2 Folder Calculator Overview: Handout Blackboard Week 2 Folder Financial Statements: Reading Ross Chapter 2 Financial Statements: Handout Blackboard Week 2 Folder Financial Statements: Lecture Blackboard Week 2 Folder Video: Accounting Scandal at Caterpillar Blackboard Week 2 Folder Week 2 Questions and Concerns Blackboard Week 2 Folder Week 2 Discussion Board Posting (graded) Blackboard Week 2 Folder Week 2 Practice HW (not graded for practice) Week 2 Online Quiz (graded) Week 3 Working with Financial Statements 4/03 4/09 Week 3 Learning Objectives and content map Blackboard Week 3 Folder Working with Financial Statements: Reading Ross Chapter 3 Working with Financial Statements: Handout Blackboard Week 3 Folder Working with Financial Statements: Lecture Blackboard Week 3 Folder Video: What We ve Learned from the Financial Blackboard Week 3 Folder Crisis and Banking Scandals Week 3 Questions and Concerns Blackboard Week 3 Folder Week 3 Discussion Board Posting (graded) Blackboard Week 3 Folder Week 3 Practice HW (not graded for practice) Week 3 Online Quiz (graded) Week 4 Financial Planning and Growth 4/10 4/16 Week 4 Learning Objectives and content map Blackboard Week 4 Folder Financial planning and growth: Reading Ross Chapter 4 Financial planning and growth: Handout Blackboard Week 4 Folder
Financial planning and growth: Lecture Blackboard Week 4 Folder Video: US Robotics Merges with 3Com Blackboard Week 4 Folder Week 4 Questions and Concerns Blackboard Week 4 Folder Week 4 Discussion Board Posting (graded) Blackboard Week 4 Folder Week 4 Practice HW (not graded for practice) Week 4 Online Quiz (graded) Week 5 Time Value of Money 4/17 4/23 Week 5 Learning Objectives and content map Blackboard Week 5 Folder Time Value of Money: Reading Ross Chapter 5 Time Value of Money: Handout Blackboard Week 5 Folder Time Value of Money: Lecture Blackboard Week 5 Folder Video: Student Loan Debt Blackboard Week 5 Folder Week 5 Questions and Concerns Blackboard Week 5 Folder Week 5 Discussion Board Posting (graded) Blackboard Week 5 Folder Week 5 Practice HW (not graded for practice) Week 5 Online Quiz (graded) Week 6 Discounted Cash Flows 4/24 4/30 Week 6 Learning Objectives and content map Blackboard Week 6 Folder Final Exam request form Blackboard Week 6 Folder Discounted Cash Flows: Reading Ross Chapter 6 & 9 Discounted Cash Flows: Handout Blackboard Week 6 Folder Discounted Cash Flows: Lecture Blackboard Week 6 Folder Video: The Long Term Cost of Car Payments Blackboard Week 6 Folder Week 6 Questions and Concerns Blackboard Week 6 Folder Week 6 Discussion Board Posting (graded) Blackboard Week 6 Folder Week 6 Practice HW (not graded for practice) Week 6 Online Quiz (graded) Week 7 Financial Markets 5/01 5/05 Week 7 Learning Objectives and content map Blackboard Week 7 Folder Financial Markets Bonds: Reading Ross Chapter 7 Financial Markets Bonds: Handout Blackboard Week 7 Folder Financial Markets Bonds: Lecture Blackboard Week 7 Folder Financial Markets Stocks: Reading Ross Chapter 8 Financial Markets Stocks: Handout Blackboard Week 7 Folder Financial Markets Stocks: Lecture Blackboard Week 7 Folder Week 7 Questions and Concerns Blackboard Week 7 Folder Week 7 Discussion Board Posting (graded) Blackboard Week 7 Folder Week 7 Practice HW (not graded for practice) Week 7 Online Quiz (graded) Final Exam 11am 12:50pm BLB 010 (at UNT Denton campus) or proctored test center 5/06