bus341sylfall06

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Queens College
Department of Economics
Intermediate Finance, Bus. 341W
Fall 2006
Prof. Nix
Course objective: Obtain working knowledge of key topics in corporate finance that were not
covered in the first semester. Such topics include: 1) Advanced Techniques in Capital Budgeting,
2) Optimal Capital Structure, 3) Dividend policy and 4) Valuation.
Office hours: Days: Wednesdays and Fridays
Hours: 10-10:30 PM, 1-1:1:30 PM, and 3-3:30 PM .
Appointment strongly recommended.
Place: Powdermaker, Room 306G
Email: [email protected]
Grade: 20% of the grade is based on the midterm, 30% of the grade is based on a final exam,
and 20% on four short written reports. The remaining 30% is distributed as follows: team quizzes
will count as 20% of your grade and 10% will be based on your team contributions assessed by
your team members and myself. Absences or lateness to class automatically lower your team
contribution grade. Opportunities for bonus points will be provided throughout the semester.
Bonus points will be added to either your team performance grade or exam grade. Absence from
a team performance assessment task implies that you will get zero for that task.
Prerequisites: Bus.241, Eco. 249, and Eng. 110.
Study Groups: Participation in study groups is mandatory. There should be no more than three
students to a group.
General Comments: Various teaching methods will be employed to communicate the course
content. Please recognize that the primary method employed is student centered team exercises.
Your commitment to serious team work is considered part of the classroom contract you have
agreed to by registering for this course.
Time Demands: There are 168 hours in a week. You will spend 3 hours a week in class. Most of
the work for this course takes place outside the classroom. The assignments should assist you in
structuring your study time. Expect to spend three to four hours a week on class material. Keep
in mind that studies of college students have shown steady and consistent attention to course
material is more effective for learning than spending large amounts of time on the material right
Page 1 of 4
before exams.
Text:
Required: Eugene Brigham & Joel Houston, Fundamentals of Financial Management, 10th
Edition.
Michael J. Mouboussin, More Than You Know, Finding Financial Wisdom in
Unconventional Places.
Web Page for Class via Blackboard.com:
The webpage for the class is available through blackboard. Access to blackboard has
changed, it is now done through the CUNY portal. You must get a portal ID. You may obtain a
portal ID, by clicking on “login” in the CUNY portal page, www.cuny.edu. This should be done
immediately. After you log in to the portal, there is a link to blackboard.
Lecture123-A software package that enables the lecture to record what I say and write on the
tablet for your access outside of the class is used. In order to access the material you need both a
community: 2006_Fall_Bus_341 and key: bus341fall06. Follow these steps:
1) visit http://www.lecture123.com/qc.cuny click “Student Jump Start.”
2) Install lecture123- follow instructions on the Install Web Page.
3) Create a user account-go to create an account web page, enter key=bus341fall06, and rest
of the information.
4) Review getting started web page.
Schedule of Classes
Part I. Capital Budgeting
Topic A: Capital Budgeting-Cash Flow Estimation
Sessions 1,2,3 and 4
Assignment #1: End of Chapter Problems: 11-1, 11-2, 11-3. 11-4, and 11-5a,b.
Writing Exercise #1: You will need to answer specific questions based on Mauboussin’s book,
part 1. These questions will be available at the course’s website.
Required Readings:
Brigham and Houston, ch.11.
Team Quiz #1: material from chapters 11 will be covered.
Page 2 of 4
Topic B : Other Topics in Capital Budgeting
Sessions 5, 6, and 7
Key Terms/Concepts:
1. Projects with unequal lives.
2. Real Options
3. Abandonment option.
End of Chapter Problems: Problems 12-1a,b, 12-2, 12-4, 12-9, 12-11a,b,c,d.
Writing Exercise #2: Based on questions available at the course’s website regarding
Mauboussin’s book, Part 2.
Required Readings:
Brigham & Houston, ch.12
Team Quiz #2-material from chapter 12.
Part II:
Sessions 8-13
Topic A:
Capital Structure and Leverage
End of chapter problems; Problems: 13-1, 13-3, 13-5, 13-8.
Spreadsheet problem 13-15.
Required Readings:
Brigham & Houston, ch.13
______________________________________________________________________________
Team Quiz #3-covering material from chapter 13.
Required Readings:
Brigham & Houston, ch.13
Page 3 of 4
Session 14: MIDTERM, FRIDAY, OCTOBER 20TH.
Part III: Distributions to Shareholders: Dividends and Repurchases.
Sessions: 15-17
End of Chapter Problems: 14-1, 14-3, 14-4, 14-5, 14-8, 14-9.
Spreadsheet Problem, 14-11.
Required Readings:
Brigham & Houston, ch. 14
Team Quiz #4: Material from chapter 14.
Writing Exercise #3: Answer questions, available online, based on Mauboussin part 3.
Part IV: Valuation
Sessions: 18-27
Topic: Valuation
Required Readings:
Benninga’s case study-available at course’s website.
Writing Assignment #4: Answer questions, available online, based on Mousboussin part 4.
Page 4 of 4
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