UNIVERSITY OF MANITOBA
FACULTY OF MANAGEMENT
DEPARTMENT OF ACCOUNTING AND FINANCE
9.341 - Investments
Fall 2005 LO1 and LO2
Instructor:
Office No.:
Telephone No.:
Office Hours:
Dr. Usha R. Mittoo
660 Drake Centre
474-8969
Monday and Wednesday 2:30-3:30 P.M.
Or by appointment.
COURSE OBJECTIVES
The objective of this course is to provide an understanding of the theory and practice of investments.
The course will begin with an overview of capital markets and cover market efficiency, capital asset
pricing models, portfolio theory and management, options and futures. The students will learn
financial concepts and their applications to investment decisions. The students will also learn many
financial tools and techniques and will have hands-on-experience in their application to solve
problems in investments.
PREREQUISITES
The course prerequisite is 9.220 (C+). The course assignments will require spreadsheet analysis and
the students are expected to have a good understanding of the use of excel.
PEDAGOGY
A combination of lectures, practical examples and spreadsheet problems will be used. The lectures
will focus on the theoretical concepts and tools. The assignments, readings, and class discussions
will provide the students practice in application of financial theory.
REQUIRED TEXTBOOK
Bodie, Kane, Marcus, Perrakis and Ryan, (BKMPR) Investments (Fifth Canadian Edition), McGraw
Hill Ryerson Ltd., 2005 (ISBN: 0-07-089503-1).
Additional Readings
Selected additional readings will be placed on the reserve in the Albert D. Cohen Management
Library. The students should read the assigned material prior to its coverage in class. In addition,
internet will also be used for some resource material and data collection. The end-of-chapter
questions and problems from the textbook and other reading materials will be assigned weekly.
Students are strongly advised to work on these assignments independently and to correct their own
solutions with the master copy in the Albert D. Cohen Management Library.
EVALUATION
In class Quizzes
Assignments
Final Examination
30%
20%
50%
Assignments may be done in groups of two or three. Only one assignment per group should be
submitted.
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READING LIST
ESTIMATED TIME PERIOD
September 8 – 21
Computer lab: (Instructor: Zhou
Zhang)
September 14, 2005, Wednesday
“Financial Modelling with excel”
September 26 – October 19
Assignment 1
Due date September 28, 2005
In class Quiz 1, October 3, 2005
(10 marks)
TOPIC
Basic Principles and Concepts - Overview Basic
Principles and Concepts - Overview
BKMPR Chapters 1- 3
How Securities are Traded? Mutual Funds and
Institutional Environment, Risk and Return
BKMPR Chapters 3-5
Portfolio Selection
BKMPR Chapter 6
The Equilibrium in Capital Markets
The Capital Asset Pricing Model, Index Models
Empirical Evidence on Stock Returns
BKMPR Chapters 7-8
October 24 – 31
Market Efficiency
BKMPR Chapter 9
International Investing
BKMPR Chapter 22
October 31- November 9
Futures and Forward Markets
BKMPR Chapter 19
In class Quiz 2, November 2, 2005
(10 marks)
Assignment 2
Due date November 7, 2005
November 9 – 28
The Options and other Derivatives
BKMPR Chapters 17-18
In class Quiz 3, November 21, 2005
(10 marks)
November 28 - December 7
Portfolio Performance Evaluation
BKMPR Chapters 20 and 21
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Academic Integrity
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. Page 29 of 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 tests 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 dishonesty. Because of the unique nature of group projects, all group
members should exercise special care to insure 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 a specific
individual(s).
Some courses, while not requiring group projects, encourage students to work together in groups (or at least do not
prohibit it) before submitting individual assignments. Students are encouraged to discuss this issue as it relates to
academic integrity with their instructor to avoid violating this policy.
In the Asper School of Business all suspected cases of academic dishonesty are passed to the Dean's office in order to
ensure consistency of treatment.
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