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Course Syllabus
Fall 2019 Semester
This course provides students with an introduction to the fundamental
principles of finance. The primary concepts covered include time value
of money, principles of valuation, risk and return, and the nature and
characteristics of domestic and international financial securities and
markets. Specific applications include the valuation of debt and equity
securities and capital budgeting analysis.
Course Description
and Learning Goals
Prerequisite: PREREQ: ZICK, ZKTP or Actuarial Sci/Fin Math and
PREREQ: ECO 1001, ECO 1002, STA 2000, CALCULUS, ACC 2101
and PRE/COREQ: CIS 2200, LAW 1101, ENG 2100, ENG 2150, COM
1010.
Credits: 3
Class Time Tu/Thu 10:45 AM – 12:00 PM
Classroom: B - Vert 3-160
Instructor: Dr. Karen Liu
Email: Karen.Liu@baruch.cuny.edu
(Not Karen.Liu@baruchmail.cuny.edu!)
Office: Vert 10-260 F (cubicle)
McGraw Hill Once you have purchased the textbook, you will have an access code to
Connect Course register for this course in McGraw Hill Connect. You will need to do this
Registration even if you have used Connect before; this is registration for this course
in particular.
Note: this will also be how you complete all other homework in this
course.
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Please direct all your technical issues to Connect, not the instructor: If
you are having trouble registering for or accessing Connect, please
contact McGraw-Hill Education’s Customer Support. Live chat, email,
and phone support are available 7 days a week.
Get Access to Once you have completed registration for this course, you can get access
eBook to your e-learning materials from Connect via Blackboard:
Each homework will become available 12:00pm the day of class, and due
one week after at 11:59pm. You have two trials for each homework, and
only the highest attempt is counted.
A financial calculator can do all work for this course, but you have the
option to bring in an additional computational calculator to classes and/or
exams.
Grading Policy
Homework 15%
SAM (Excel) 5%
Attendance 5%
Midterm 30%
Final Exam 45%
Total 100%
Attendance Attendance will be taken starting the second class, and accounts for 5%
of your total grade. I will allow for three excused absences (religious
holidays, personal/family emergencies, schedule conflicts). Each
additional absence will lower your grade by 1% until you lose all 5% of
your attendance grade. Additional absences will be reported to the dean.
Late absence excuses (e.g. emailing me after class) will not be accepted.
Exam Policies 1. All exams are in-class, during scheduled class times (see dates in
class schedule below), closed books, and multiple choices only.
Scantrons and scratch paper will be provided. Exams will be given in
multiple versions.
3. The midterm exam covers content from the first half of semester, and
accounts for 30% of your total grades; the final exam will cover the
whole semester, with emphasis on the second half of semester but
including some content before the midterm. It will account for 45%
of your grade. See course schedule for tentative exam dates.
4. You can bring a A4 size note sheet with any notes written or typed.
(Advice: don’t rely on it too much)
Baruch College Section: CTRA
The City University of New York Fin3000 Principles of Finance
5. If you are late for the exam, you will still have to turn in the exam at
the regular exam ending time. Students who come in late more than
30 minutes (midterm) or 1 hour (Final) are not allowed to take the
exam.
Academic Integrity The Department of Economics and Finance fully supports Baruch
College's policy on Academic Honesty, which states, in part:
Academic dishonesty is unacceptable and will not be tolerated. Cheating,
forgery, plagiarism and collusion in dishonest acts undermine the
college's educational mission and the students' personal and intellectual
growth. Baruch students are expected to bear individual responsibility for
their work and to uphold the ideal of academic integrity. Any student who
attempts to compromise or devalue the academic process will be
sanctioned.
Additional information can be found here.
Any infringement of this rule will be treated as a serious violation of
Academic Integrity. Any suspected academic dishonesty in this regard
will result in a grade of F on the exams and most likely an F in the course
as well. Students should also understand that a report of suspected
academic dishonesty will be sent to the Dean of Students’ office and
becomes a permanent part of the student’s file.
Accommodation for
Students with disabilities are supported in their academic studies by
Students with
Baruch College’s Office of Services for Students with Disabilities
Disabilities
according to their Mission Statement:
Students who feel that they may need a reasonable accommodation based
on a disability should contact the staff at the Office of Services for
Baruch College Section: CTRA
The City University of New York Fin3000 Principles of Finance
Students with Disabilities, Newman Vertical Campus, Room 2-271, or
by phone at (646) 312-4590.
More information is available on their website here.
Please let the instructor know ASAP if you require accommodations.
Other Polices 1. Blackboard and email will be used primarily for announcements.
Please check your email address listed on Blackboard to make sure
you receive all emails from me. You are responsible for missed
announcements.
2. Class documents (slides, supplemental readings) will be available
on Blackboard under “Course Documents”
3. Electronic devices are allowed in class but must be muted.
4. Food and drinks are allowed in class but must be consumed subtly.
Class starts promptly at 10:45AM, with no break in between.
1
* Chapter 8 “NPV and other investment criteria” from the original Brealey, Myers and Marcus book is
not in your textbook; I will briefly introduce the idea of NPV and other investment criteria but it will not
appear in your exams.
Baruch College Section: CTRA
The City University of New York Fin3000 Principles of Finance
15-Oct T Review for Midterm Exam
17-Oct Th Midterm Exam
22-Oct T 6 Valuing Bonds
24-Oct Th 6 Valuing Bonds
29-Oct T 6 Valuing Bonds: Corporate Bond, Securitization and the
Subprime Crisis
31-Oct Th 7 Valuing Stocks
5-Nov T 7 Valuing Stocks
7-Nov Th 7 Valuing Stocks: Stock Market Efficiency and Behavioral
Finance
12-Nov T 11 Introduction to Risk, Return, and the Opportunity Cost of Capital
14-Nov Th 11 Introduction to Risk, Return, and the Opportunity Cost of Capital
19-Nov T 11 Introduction to Risk, Return, and the Opportunity Cost of Capital
21-Nov Th 12 Risk, Return and Capital Budgeting
26-Nov T No Class
28-Nov Th No Class
3-Dec T 12 Risk, Return and Capital Budgeting
5-Dec Th 12 Risk, Return and Capital Budgeting
10-Dec T Final Review
12-Dec Th Q&A for Final Exam
17-Dec T Final Exam (In Class)
Baruch College Section: CTRA
The City University of New York Fin3000 Principles of Finance
SAM Projects
DO NOT CONTACT YOUR PROFESSOR OR RECITATION INSTRUCTOR FOR
ASSISTANCE OF ANY KIND RELATED TO EXCEL PROJECTS – DIRECT YOUR
QUESTIONS TO THE EXCEL HELPDESK (http://blogs.baruch.cuny.edu/excelhelp)
The last submission date for ALL projects is December 2nd, 2019. No extension will be given
after December 2nd, 2019.
Grading Rules. Successful completion of the 4 projects will constitute 5% of your final FIN
3000 grade. The projects are self-graded and you’ll have 3 trials to complete each one of them.
Assignments submitted with scores of 80% and above will receive full credit for the assignment
(i.e. 100/100 points). On-time assignments that score less than 80% will receive the exact credit
earned (i.e. a score of 75% on an assignment submitted on time will be recorded as 75/100
points). Late submissions are now allowed; students will lose 1 point per day that the assignment
is late. Also, late assignments will receive the exact credit earned if the adjusted total falls below
80% (e.g. a late assignment with a score of 84% and 5 days late will be recorded as [79=84-
5]/100 points).
Please note: Windows Excel 2016 is the best version to work on all the SAM assignments as we
are using SAM 2016, which was developed around Windows Excel 2016. You can choose to use
Mac or other Windows Excel versions, but we will not be responsible for the possible grading
errors that are caused by using versions other than Windows Excel 2016. You can find
Windows Excel 2016 on all PCs in Baruch students labs.
Due dates. Late Submissions are allowed, with points deducted accordingly as explained in
Grading Rules. The last submission date for ALL projects is December 2nd, 2019. No
extension will be given after December 2nd, 2019.
Pricing. You need to purchase access to the SAM platform in order to complete the projects. The
cost is $40. Once purchased, your SAM account will be active until you graduate and you’ll be able
to access Excel projects in other classes in the future. If you have a SAM account from a previous
class, simply login to SAM (you do NOT need to purchase access again) and join your new class
(see instructions below).
Viewing the SAM tutorials before doing the projects increases your chances of a successful
and quicker project completion. Completing the voluntary projects will significantly improve
your Excel skills which are invaluable both in your future academic and professional career.
Baruch College Section: CTRA
The City University of New York Fin3000 Principles of Finance
Academic Integrity. SAM detects files shared with other students and generates a report for the
instructors with the names of plagiarizing students and all parties involved. Students caught
cheating will be reported to the Office of the Dean of Students for disciplinary action.
Troubleshooting. Several resources are available to you should you encounter any problems:
Blackboard. As a student enrolled in this class, you also have an access to the Excel
Project’s dedicated Blackboard Fall 2019 Excel Module for FIN 3000 (Baruch). This
website contains additional materials and links that will help you navigate the SAM website
and complete your projects. We will also post the answers to students’ questions there and
remind you about the assignment deadlines.
SAM Help Desk. Students with questions about SAM can access the help desk either of
two ways: through Blackboard (content: "Excelhelp") or at
http://blogs.baruch.cuny.edu/excelhelp. The help desk is supported by PhD students
familiar with SAM and the SAM projects. Emails will be answered daily, Monday-Friday.
If many inquiries arise about a common issue, then responses will be posted on Blackboard.
Technical Support. For any problems accessing or using SAM contact Technical Support
at:
Phone: 1-800-354-9706 (Mon-Thurs, 8:30am to 9:00pm EST & Friday, 8:30am to 6:00pm
EST) or Chat (24/7) or E-mail (24/7): http://www.cengage.com/support/
Excel tutors. Student Academic Consulting Center (SACC) will provide tutors who are
trained in your assigned SAM projects and can help you learn how to use Excel. To
schedule an appointment, visit https://www.baruch.cuny.edu/sacc. To sign up for a tutoring
session, enter your SACC login information if you have already created an account
otherwise follow the step to register with SACC. Select the SAM Software Projects
Tutoring.
Walk-in workshops. The SACC tutoring center will offer workshops on using Excel
with SAM the week BEFORE every project is due. We will send reminders as to the date,
time and place of each workshop via Blackboard. To sign up for a workshop, go to
https://www.baruch.cuny.edu/sacc. Enter your SACC login information if you have
already created an account; otherwise follow the steps to register with SACC. Select the
SAM Software Projects Workshop from the drop-down list and choose the session that
you would like to sign up for from the calendar.
Internet browsers. It is recommended that you use Chrome, Safari or Firefox with SAM.
Avoid Internet Explorer.
65 portfolio β N stocks
66 risk premium given R and Rf
market risk
67 premium given Rm and Rf
68 R capm
69 risk premium capm - given β, Rm, Rf
70 β capm - given R, Rm, Rf
71 Rm capm - given R, β, Rf
72 Rf capm - given R, β, Rm
conceptual
73 questions TVM
conceptual
74 questions stocks
conceptual
75 questions bonds
conceptual risk and return, including but not limited to: expected return, required
76 questions return, types of risk, diversification, portfolio risk and return, etc.