Finance 317 L01-06
Introduction to Finance
Course Outline – Winter 2024
Instructors
Email
Office hours
Steven Paget L01, L02 & L03
steven.paget@ucalgary.ca
In SH 140: see D2L for booking link
Website
Tutorial and Quiz 1 and
Midterm (live)
Lecture Times
Thomas Holloway L04, L05 & L06
thomas.holloway@ucalgary.ca
SH 148
http://d2l.ucalgary.ca
Monday 18:30 – 21:15 MFH 160
LEC 1 MW 14:00 - 15:15 MTH 106
LEC 2 MW 15:30 - 16:45 MTH 106
LEC 3 TR 08:00 - 09:15 MTH 106
LEC 4 TR 09:30 - 10:45 MTH 106
LEC 5 TR 11:00 - 12:15 MTH 106
LEC 6 TR 14:00 - 15:15 MTH 106
Course Description
Introduction to the theory and practice of raising and allocating monetary
resources. The course outlines the modern understanding of how risk, time
horizon, and market imperfections each affect the value of real and financial
assets. Topics include time value of money, the risk-return trade off, financial
investing, corporate financing, and corporate investing.
Course Objectives
By the end of this course, students will:
1. Perform a basic analysis of financial statements
2. Apply basic valuation to financial assets (present value)
3. Identify and apply project valuation and decision criteria (NPV/IRR)
4. Identify risk return trade-offs (portfolio theory)
5. Apply the Efficient Market Hypothesis (EMH)
6. Identify the impact of financial leverage (capital structure)
Textbook and/or Other
Materials
Fundamentals Of Corporate Finance, 11th Edition. Ross, Westerfield, Jordan,
Roberts, Pandes, Holloway © 2022 | Published: McGraw-Hill. Buy this book online
through The University of Calgary bookstore or elsewhere. New copies of the
book have a time-limited code to allow the use of online materials. These online
materials can be useful learning tools but are not required for the course. Used
textbooks and any Canadian version is adequate for completing all the required
material in the course.
Course Workload
Generally, it is understood that students should spend two to three hours per
week outside of class time for every hour of lecture. This may vary by week
This is Part A of the course outline, which is specific to FNCE 317 L01-06.
Please ensure you review Part B for policies and procedures applicable to all Haskayne undergraduate courses.
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depending on both the assessment schedule and on students’ ability to manage
their time.
Grade Scale
The Haskayne School of Business endeavours to ensure consistency of final grades
across courses and sections. Variations in distribution will always be considered
by the instructor where called for by the performance in each individual class. The
student does not have the ‘right’ to a certain grade but is responsible for earning
grades. The instructor has unfettered discretion to evaluate student performance
and assign all grades.
A+
A
AB+
B
BC+
C
C-
≥
≥
≥
≥
≥
≥
≥
≥
≥
97.0
90.0
85.0
80.0
75.0
70.0
65.0
60.0
55.0
D+
≥ 52.0
D
> 50.0
F
≤ 50.0
Outstanding
Excellent
Approaching excellent
Exceeding good performance
Good performance
Approaching good performance
Exceeding satisfactory performance
Satisfactory performance
Approaching satisfactory performance.
Marginal pass. Insufficient preparation for subsequent
courses in the same subject
Minimal pass. Insufficient preparation for subsequent
courses in the same subject
Failure. Did not meet course requirements.
To determine your letter grade, you calculate your final percentage and then refer
to the table above to locate your letter grade.
This is Part A of the course outline, which is specific to FNCE 317 L01-06.
Please ensure you review Part B for policies and procedures applicable to all Haskayne undergraduate courses.
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Grade Components
There is no requirement to pass any component in order to pass the course. There
are no “do-overs” or additional work for extra grades in this course.
Dates
Assessment
Weighting
Outcomes
Assessed
Monday January 29 –
during tutorial
Quiz 1 – 90 mins
10%
1,2
February 9 – on D2L
Online Quiz 2 – 90
mins
7.5%
1,2
February 26 – during
tutorial
Midterm Exam – 2
hours
25%
1,2,3
March 15 – on D2L
Online Quiz 3 – 90
mins
7.5%
4,5
April 9
Financial Modelling
Due
10%
1-6
April 9 - online
Project Assignment
10%
4,5,6
January 8 – April 9
Participation
5%
1-6
Scheduled by the
registrar
Final Exam – 2 hours
25%
4,5,6
Total
100%
Missed Assessment
Policy
Students must follow the guidelines outlined in Part B of the outline to request a
deferral for missed assessments during the term.
Late Policy
See below in bold in corresponding sections.
In-Class Quizzes,
Midterm, & Final Exam
For all face-to-face assessments students should bring pencil(s), eraser, UCID,
and:
1. One or two calculators. TI BA II Plus or equivalent or programmable such
as TI-83 Plus or TI-84 Plus. Any 2 calculators are allowed.
2. One double-sided letter-sized (8.5” x 11”) sheet of paper (i.e., a cheat
sheet). Both hand-written and typed notes are acceptable. You may
write whatever you wish on both sides of the page. Scrap paper is NOT
ALLOWED.
The midterm will be held during the tutorial time and is 2 hours in length. The
final exam will be 2 hours and the location/time will be scheduled by the
registrar.
At the end of an exam or in-class quiz, students must hand in their “cheat
sheet”, their copy of the exam/quiz, and the scantron. Violation of these rules is
academic misconduct and will be governed by the regulations as stated in the
University of Calgary calendar.
This is Part A of the course outline, which is specific to FNCE 317 L01-06.
Please ensure you review Part B for policies and procedures applicable to all Haskayne undergraduate courses.
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Scantron Sheets:
The face-to-face Quizzes, Midterm, and Final Exams are computer scored, and
grades are based solely on the scantron (bubble) sheet you submit. Please
ensure you fill out the scantron (bubble) sheet carefully.
Failure to properly identify yourself on the scantron sheet (writing down and
shading in your name and student ID # correctly) will result in a loss of 5% out of
the 100% awarded for the assessment.
You will not receive any extra time to complete the scantron (bubble) sheet
during the examination. If your scantron (bubble) sheet has not been completed
in the allotted time, your score will reflect the number of correct answers you
recorded on the incomplete scantron (bubble) sheet.
Quizzes on D2L
Online Quizzes will be accessible on D2L for 24 hours before the due date.
Please see the schedule at the end of this syllabus for the Quizzes due date.
Students will have 90 minutes and one attempt to complete each Quiz. The quiz
must be submitted (press submit) before 11:59 pm on the due date, please plan
accordingly. If technical difficulties arise, you must email your instructor at the
time of the incident.
Ensure that you have everything you need (e.g., calculator, scratch paper, etc.)
before you start an online quiz. The instructors are not responsible for your
internet or computer malfunctioning issues. You WILL NOT be granted a second
attempt. Submissions of the quiz after Midnight on Friday will not be permitted,
and any answers recorded after this time will not be counted in your final score.
Quizzes will include multiple choice questions that involve numerical problem
solving prior to answering. The number of questions may vary as the length of
each question depends on the topic. It is acceptable to work in groups of two for
online quizzes. However, online quizzes must be submitted individually, which
means that your mark will be based on what you submit. The first question in each
Quiz is a digital signature (Academic Integrity). The students will not be able to
submit the Quiz unless they answer positively the following statement.
I understand that I must complete this online quiz myself by working
independently, or in a group collaboration with a maximum of 2 students
(including myself) currently enrolled in FNCE317. I did not consult and I will
not share quiz information with anybody outside my collaboration group (if
any). I understand that academic dishonesty results in consequences as
described in the university calendar
https://www.ucalgary.ca/pubs/calendar/current/academic-regs.html
Project Assignment
The assignment is in two parts. Part 1 is about the Capital Asset Pricing Model
(CAPM) and Part 2 is about Capital Structure. You will be working in groups of 4
or 5. The assignment is due on Tuesday April 9. The late penalty will be 25% per
day.
Foundations in Financial To get 10% in this component, you will need to complete the Financial Modelling
Modelling (10%)
Institute’s (FMI) Fundamentals of Financial Modelling certificate. It requires a
This is Part A of the course outline, which is specific to FNCE 317 L01-06.
Please ensure you review Part B for policies and procedures applicable to all Haskayne undergraduate courses.
Bachelor of Commerce | 4
15-hour time commitment (video instruction) as well as a one-hour multiple
choice exam. There are approximately 40 short videos. This is about 4 per week
and much better spread out this way. Further details will be available on D2L.
Participation (5%)
Your attendance and participation are expected in this course. Excellent
attendance will get you 4/5 points; we are looking for engagement to get full
marks. Participation will be measured using Top Hat software, which also
provides you an opportunity to attempt in-class questions.
5 points – full attendance and engagement; asking good questions, helping the
class improve their understanding of finance.
4 points – very strong attendance; good engagement with the subject matter.
3 points – solid attendance in class, present for more than 70% of classes.
2 points – present for more than 50% of classes.
1 point – present for more than 30% of classes.
0 points – not engaged with the subject matter.
Contacting Your
Instructor
Email Communication
Please use email or office hours directly to ask questions.
Professors Paget and Holloway will review the final grades for the course.
Neither will entertain requests for adjustments based on being close to a
particular cutoff.
You can email the instructor or the teaching assistants for brief/specific
questions. Please follow these email protocols:
1. Please type FNCE 317 and your Section Number (L01, etc.) in the email
subject line.
2. Clearly state how the question arises or where you found it or give a brief
explanation of where you are having problems (if numeric, include your
calculation logic). If you include more detail, we can provide you with
more valuable feedback.
We will try to get back to you within two business days. Please plan ahead
especially before assessment. We will not respond to questions on the day of an
assessment. For example, if an assessment is scheduled for a Monday, any
questions you have should be sent by no later than 16:30 on the previous Friday.
You can expect an answer by no later than the end of the day the following
Tuesday.
Calculator Policy
Academic Integrity and
Rigor
Any type of calculator is permitted. We encourage all our students to own a
financial calculator; the most used one for the course is the TI-BA II Plus. It is your
responsibility to learn how to use your calculator. Graphing calculators such as
the TI-84 are adequate, but not ideal.
Academic integrity and rigor are critical components of a University degree.
Academic integrity is the foundation of the development and acquisition of
knowledge and is based on values of honesty, trust, responsibility, and respect.
The Haskayne School of Business values ethical leadership and personal integrity,
and expects its faculty, staff, and students to live these values. In the online
This is Part A of the course outline, which is specific to FNCE 317 L01-06.
Please ensure you review Part B for policies and procedures applicable to all Haskayne undergraduate courses.
Bachelor of Commerce | 5
environment, certain additional measures will be put in place to help safeguard
the integrity of online assessments and the intellectual property of the
instructors.
Course Outline Part B
The Course Outline Part B contains more generalized information for Haskayne
and the University. You are responsible for reading and understanding all content
in both parts of the outline.
Part B can be found here.
This is Part A of the course outline, which is specific to FNCE 317 L01-06.
Please ensure you review Part B for policies and procedures applicable to all Haskayne undergraduate courses.
Bachelor of Commerce | 6
Class Schedule & Topics
Please note that lecture topics and readings are tentative and subject to change.
Important dates: http://ucalgary.ca/pubs/calendar/current/academic-schedule.html
COURSE SCHEDULE (FNCE 317 L01-06 Winter 2024)
Week
1
2
3
4
5
6
7
8
9
10
11
12
L01 - L02
L03 - L06
DETAILS
Mon, Jan 8
Tue, Jan 9
Classes begin January 8; class review and Ch. 1
1
Financial Statements, Cash Flow, Taxes
Tutorial #1
Working with Financial Statements
Time Value of Money
Tutorial #2
Discounting Cash Flows I
Discounting Cash Flows II
Quiz #1 18:30
Interest Rates and Bonds I
Interest Rates and Bonds II
Tutorial #3
Stock Valuation I
Stock Valuation II
Quiz #2 via D2L
Tutorial #4
NPV and Investment Criteria I
NPV and Investment Criteria II
Family Day Holiday
TERM BREAK
TERM BREAK
MIDTERM (18:30)
Making Capital Investment Decisions I
Making Capital Investment Decisions II
Tutorial #5
Lessons from Capital Market History I
Lessons from Capital Market History II
Tutorial #6
Risk, Return and the Security Market Line I
Risk, Return and the Security Market Line II
Quiz #3 via D2L
Tutorial #7
Cost of Capital I
Cost of Capital II
Tutorial #8
2
Wed, Jan 10 Thu, Jan 11
Mon, Jan 15
Mon, Jan 15 Tue, Jan 16
Wed, Jan 17 Thu, Jan 18
Mon, Jan 22
Mon, Jan 22 Tue, Jan 23
Wed, Jan 24 Thu, Jan 25
Mon, Jan 29
Mon, Jan 29 Tue, Jan 30
Wed, Jan 31 Thu, Feb 1
Mon, Feb 5
Mon, Feb 5
Tue, Feb 6
Wed, Feb 7
Thu, Feb 8
Fri, Feb 9
Mon, Feb 12
Mon, Feb 12 Tue, Feb 13
Wed, Feb 14 Thu, Feb 15
Mon, Feb 19
Mon, Feb 19 Tue, Feb 20
Wed, Feb 21 Thu, Feb 22
Mon, Feb 26
Mon, Feb 26 Tue, Feb 27
Wed, Feb 28 Thu, Feb 29
Mon, Mar 4
Mon, Mar 4 Tue, Mar 5
Wed, Mar 6 Thu, Mar 7
Mon, Mar 11
Mon, Mar 11 Tue, Mar 12
Wed, Mar 13 Thu, Mar 14
Fri, Mar 15
Mon, Mar 18
Mon, Mar 18 Tue, Mar 19
Wed, Mar 20 Thu, Mar 21
Mon, Mar 25
This is Part A of the course outline, which is specific to FNCE 317 L01-06.
Please ensure you review Part B for policies and procedures applicable to all Haskayne undergraduate courses.
CHAPTER
3
5
6
6
7
7
8
8
9
9
10
10
12
12
13
13
14
14
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13
Mon, Apr 1
Tue, Apr 2
Wed, Apr 3
Thu, Apr 4
Mon, Apr 8
Financial leverage and capital structure
Financial leverage and capital structure
No Tutorial: Holiday
No class April 1; Review and Assignment Work
Apr. 2
Review and Assignment Work
Tutorial #9
14
Mon, Apr 8
Review and Assignment Work; Classes End April
9
Mon, Mar 25 Tue, Mar 26
Wed, Mar 27 Thu, Mar 28
Mon, Apr 1
Tue, Apr 9
This is Part A of the course outline, which is specific to FNCE 317 L01-06.
Please ensure you review Part B for policies and procedures applicable to all Haskayne undergraduate courses.
16
16
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