FIN 4504 Investments
Syllabus
Professor:
Office:
Dr. Doug Waggle
Bldg. 76, Room 109 /
Room 213
E-mail:
Phone:
dwaggle@uwf.edu
850-474-2726
Office Hours
Tuesday
Wednesday
Thursday
9:30 – 11:00
9:30 – 11:00
9:30 – 11:00
1:30 – 3:00
1:30 – 3:00
1:30 – 3:00
I’m around a lot more than this, and I am also available by appointment. If you are making a special
trip in, please check to make sure that I’m not in some other meeting.
Textbook
Fundamentals of Investments: Valuation and Management, 6th edition, (2012), by Jordan, Miller,
and Dolvin, published by McGraw-Hill Irwin ISBN: 978-0-07-745764-8.
Before you buy your book: The older 5th edition (2008), ISBN: 978-0-07-338235-7, is
comparable to the 6th edition, but it lacks some updated materials. Although I expect you to read the
text, I don’t require completion of assignments from the book. It is fine with me if you buy the older
edition.
Catalog Description
Introduction to an extensive development of theoretical concepts related to areas of securities
analysis and portfolio management.
Prerequisite: FIN 3403 Managerial Finance
This course is three credit hours.
Course Purpose
The course will provide the student with an introduction to the concepts of investing. This course
addresses both the theory and application of investment topics. The course addresses the differences
between the basic types of securities and how they fit in the total portfolio picture. The course also
covers how to analyze securities, decide if they should be included in an investment portfolio, and
how to buy and sell them.
Student Learning Outcomes
After completing the course, students should be able to
1. Explain the risk-return relationship and how it applies across various asset categories.
2. Calculate and interpret returns and standard deviations of securities and portfolios.
3. Describe types of brokerage accounts and the process for buying and selling securities.
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4. Differentiate between the major types of investments and compare their advantages and
disadvantages.
5. Apply basic stock and bond valuation models.
6. Explain the reasons for buying mutual funds and ETFs.
7. Discuss the arguments for and against market efficiency in its various forms.
8. Compare technical and fundamental analysis.
9. Explain the benefits of diversification from both a practical and theoretical perspective.
10. Discuss and apply the basic result of the CAPM.
11. Demonstrate basic skills in solving financial problems using Microsoft Excel.
Evaluation and Grading
The three major exams must be proctored. The major exams must either be taken in person
at a UWF campus (times and locations TBA) or be proctored at a testing facility approved by
the instructor. See the information on “Testing Policies” below.
Grades are calculated as follows:
Exam 1
Exam 2
Comprehensive Final Exam
Online Quizzes
Excel Homework
Total
24%
24%
28%
12%
12%
100%
If you fall behind in the material, catching up may prove difficult. There are mandatory online
quizzes that are designed to keep you on track. The quizzes are open book and open note, but they
are timed and you must do them on your own. There will also be several Microsoft Excel
assignments. Details of assignments and due dates will be provided.
All homework and quizzes must be completed by their assigned due dates. No unexcused late work
will be accepted. Failure to take a quiz or complete a homework assignment by the due date results
in a grade of 0. Computer problems, Internet connection issues, and lost Excel files are not valid
excuses for not completing your work on time. These are all good reasons to start your work early.
Grades will be assigned as follows:
93-100, A; 90-92.99, A-;
87 – 89.99, B+; 83-86.99, B; 80-82.99, B-;
77 – 79.99, C+; 73-76.99, C; 70-72.99, C-;
67 – 69.99, D+; 60-66.99, D;
Below 60, F.
Makeup Exam Policy
Makeup exams are generally not given. If a student has an unexcused absence from an exam, the
general method for making this up is through taking a comprehensive final. The comprehensive
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final will then receive additional weight. (Missing two exams will generally result in a grade of zero
for the second exam.)
What Does it Take to Be Successful in this Class?
You should watch the online presentations each week when the topics are on the schedule. You
should read the related textbook material to gain additional insights and perspectives. Keeping up
with the class as we go along is very important. Online quizzes related to the current topics with
regular due dates are designed to keep you on track. Do not skip these quizzes. They do count in
your grade. Even though the online quizzes are open book, you should review the course material
prior to taking them. Trying to cram for your major exams in this course is a recipe for major
trouble in this course.
Work extra problems to make sure that you understand them. There are practice problems online in
the Quiz section. Suggested review problems and questions from the text are also noted on
eLearning. Problems that look easy when I am working through them with you are often much
harder when you are on your own.
If you don’t understand something, ask a question. The best place to ask general questions is in the
online discussion boards. There are discussion boards for each chapter and assignment. Going back
to the idea of keeping up with your work, asking questions as we go along is the best strategy. If
you need additional help, I am available for face-to-face meetings. Please do come and see me if
you need help. If you are outside the local area, we can set up a phone or video meeting.
Do your Excel homework! You will have several Excel assignments due during the semester. These
assignments relate to topics that we cover, but we won’t be covering Excel in our class meetings. I
will give you general guidance on these, but you will mostly be figuring out the Excel aspects on
your own. Although they may seem hard at first, they are all doable. Do not take zeroes on these
assignments! Excel is something that all business and finance majors should know how to use.
Start your Excel homework early so you can ask questions and get help. If you wait until Thursday
night at 7:00 p.m. to start on your assignment due at 11:59 p.m. that night, you may be in trouble. I
won’t be around to answer questions, and you may get stuck. Starting early will save you time in
the long run.
Testing Policies
As noted above, all major exams must be proctored.
Northwest Florida Students
Students in the Pensacola and Fort Walton Beach areas should attend one of the announced
proctored exams. If you live in NW Florida, but are unable to attend any of the exam sessions at the
dates/times that are being offered, you can arrange for remote proctoring. See below for details.
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Students outside the Pensacola or Fort Walton Beach area
Students who reside outside of this geographic area must make arrangements to have the exams
proctored by an individual who is acceptable to the instructor. Most U.S. colleges and universities
and military institutions can assist with proctoring. Proctors generally must have either a .edu or a
military mailing address. Students should contact the testing center at their local university or
community college and request such assistance.
Students who will be using a non-UWF proctor must complete and submit a Proctor Approval
Form (found at the course eLearning site). These forms should be submitted at least three weeks in
advance of the exam being proctored. Only one form is needed for the semester.



Cell phones are not allowed in exams. This does not mean that you should turn your cell
phone off during the exams. It means that you should not bring it to the exams at all.
A financial calculator is required. (See the section on Financial Calculators for more
information.) You may not share calculators during exams.
A formula sheet will be provided to aid you on the exam. See the eLearning page for an
example.
Financial Calculators
This particular class does not require extensive use of financial calculators, but one will be required
when we study bonds and possibly at some other points. These two models are suggested:


Texas Instruments BAII Plus
Hewlett Packard 10BII
I recommend the TI calculator, simply because it is what I have always used. I can answer questions
on the use of this particular calculator. Either one should work fine, though.
An acceptable financial calculator will allow for input of basic time value of money inputs (N, I/Y,
PV, PMT, FV) and calculation of NPV and IRR. You will need to become very familiar with your
calculator. You should get your calculator as soon as possible and do all of your work with this
calculator. Some other calculators that might be fine otherwise have text functions which would
allow for storing notes and creating an unfair situation. These alternatives are not allowed.
All business and finance majors should own and be proficient with a financial calculator. If,
however, for some reason (I can’t imagine what that might be) you should decide that you would
like to sell your calculator when the semester is over, here’s what you can do: 1) Post an ad on the
Pensacola site for Craigslist.org that includes “UWF” and “Calculator” in the title and 2) Let me
know. I’ll send out an advance notice to students signed up for the next semester’s course.
Expectations for Academic Conduct
As members of the University of West Florida, we commit ourselves to honesty. As we strive for
excellence in performance, integrity—personal and institutional—is our most precious asset.
Honesty in our academic work is vital, and we will not knowingly act in ways which erode that
integrity. Accordingly, we pledge not to cheat, nor to tolerate cheating, nor to plagiarize the work of
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others. We pledge to share community resources in ways that are responsible and that comply with
established policies of fairness. Cooperation and competition are means to high achievement and
are encouraged. Indeed, cooperation is expected unless our directive is to individual performance.
We will compete constructively and professionally for the purpose of stimulating high performance
standards. Finally, we accept adherence to this set of expectations for academic conduct as a
condition of membership in the UWF academic community.
Assistance
The Student Disability Resource Center SDRC at the University of West Florida supports an
inclusive learning environment for all students. If there are aspects of the instruction or design of
this course that hinder your full participation, such as time limited exams, inaccessible web content,
or the use of non-captioned videos and podcasts, please notify the instructor or the SDRC as soon as
possible. You may contact the SDRC office by e-mail at sdrc@uwf.edu or by phone at (850) 4742387. Appropriate academic accommodations will be determined based on the documented needs of
the individual.
FIN 4504 Investments Syllabus
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FIN 4504 Investments
Course Outline and Schedule
Week of …
January 7
January 14
Chapter
Topic
Introduction and a chance to get ahead
February 4
1
3.1-3.3
!!!
2
5
Notes
**
February 11
4
Introduction & Risk and Return
Intro to Money Market, Stocks, and Bonds
MLK Day on Monday
Buying and Selling Securities
Stock Market
Common Stock Topics
Exam 1 (TBA)
Covers chapters 1-3, 5 and Stock Topic Notes
Mutual Funds
February 18
6
Common Stock Valuation
February 25
7
Market Efficiency
January 21
January 28
March 4
Notes
Asset Allocation Examples
March 11
!!!
Spring Break all week – No class
March 18
March 25
8
**
April 1
11
Behavioral Finance and Technical Analysis
Exam 2 (TBA)
Chapters 4, 6, 7, 8, and Asset Allocation Examples
Diversification
April 8
April 15
12
13
18
Risk and the CAPM
Performance Evaluation and Risk Management
Bond Basics
April 22
April 29
10
**
Bond Prices and Yields
Comprehensive Final Exam (TBA)
Covers everything
Note: This course outline and the dates established therein are tentative, and the instructor reserves
the right to change them.
This outline shows the approximate dates that material should be covered. Due dates for online
quizzes, and homework are all noted online. Online quizzes are typically due by the Tuesday of the
week after inclusion on the schedule.
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