Finance 4330 David M by xiuliliaofz


									                                Syllabus for MBAX 6220 Fall 2011
                              Investment Management and Analysis
                                             David M. Gross Ph.D.

After a brief survey of various types of financial instruments and the financial environment, we turn to building a
rigors foundation for portfolio analysis and asset pricing. Over this semester, you will develop a large vocabulary of
investment terms and will understand the foundations of assessing portfolio and security risk, measuring returns and
valuing assets.

Learning Objectives
The goals of this course are:
 Learn as much institutional detail and terminology as possible
 Familiarize yourself with the historic record of risk and returns of different classes of securities
 Develop a rigorous foundation in portfolio math in order to develop a deeper understanding of risk and return
 Gain proficiency using Excel to model security and portfolio performance

Contact Information
Office: KOBL 402
Office hours: Monday through Thursday, 1:30 to 2:30 or by appointment
Office phone: 303-735-6181
E-mail: David.Gross@Colorado.Edu
Web Page:

Required Text
Investments (9th edition), by Bodie, Kane, Marcus, McGraw Hill Irwin publishing.

Throughout the term, homework that relates to the material covered in the lectures and text will be assigned but
NOT collected or graded. You will be provided with answers to these problems. Much of the material covered by
the exams will be from these homework problems.

I will assign multiple Excel-based projects that will require you to perform security and portfolio calculations and
analysis. The specifics of the projects will be assigned as the semester progresses.

There will be one midterm exam and a final exam. The majority of the material on the exams will be taken from the
homework and lectures. The rest will come from the text. The final exam WILL BE CUMULATIVE.

Exam Schedule
Midterm       Wednesday, October 19
Final Exam    TBA

Grade Weighting
Midterm Exam      30%
Final Exam        50%
Projects          20%

These are the only factors that will be used to determine your course grade. There will be no extra credit.
Course Outline:
Brief Review of Terminology and Institutional Details:
 The Investment Environment – Chapter 1
 Asset Classes and Financial Institutions – Chapter 2
 How Securities Are Traded – Chapter 3
 Mutual Funds and Other Investments Companies – Chapter 4

Portfolio Risk and Return Math
 Learning about Risk and Return from the Historical Record – Chapter 5
 Risk Aversion and Capital Allocation to Risky Assets – Chapter 6
 Optimal Risk Portfolios – Chapter 7
 Index Models – Chapter 8

Asset Pricing and Models Used to Measure Historic Risk and Return Performance
 The Capital Asset Pricing Model – Chapter 9
 Arbitrage Pricing Theory and Multifactor Models of Risk and Return – Chapter 10
 The Efficient Market Hypothesis – Chapter 11
 Behavioral Finance and Technical Analysis – Chapter 12
 Empirical Evidence on Security Returns – Chapter 13

Securities Analysis
 Macro and Industry Analysis – Chapter 17
 Equity Valuation Models – Chapter 18
 Financial Statement Analysis – Chapter 19

Additional Topics (as time allows)
 Fixed Income Securities – Chapters 14, 15 and 16
 Derivative Securities – Chapters 20, 21, 22 and 23
 More Portfolio Performance Evaluation – Chapter 24

Students with disabilities who qualify for academic accommodations must provide a letter from Disability Services
(DS) and discuss specific needs with the professor (in person or by e-mail), preferably during the first two weeks of
class. DS determines accommodations based on documented disabilities (303-492-8671, Willard 322,

University Student Policies:
All University of Colorado and Leeds School of Business rules, policies, and procedures will be followed in the
course (including those related to drop/add requirements and the grade of “IF”). Academic dishonesty can result in
a failing grade for the course. University policies regarding academic and behavior issues should be reviewed at:

Religious Observance:
Campus policy regarding religious observances requires that faculty make every effort to reasonably and fairly deal
with all students who, because of religious obligations, have conflicts with scheduled exams, assignments, or require
attendance. Please contact your Instructor prior to any potential course conflict.

Student Honor Code:
The purpose of an Honor Code at the University of Colorado at Boulder is to secure an environment where academic
integrity, and the resulting behavior, can flourish. The Honor Code recognizes the importance of honesty, trust,
fairness, respect, and responsibility and wishes these principles to be a defining part of the CU-Boulder campus. The
Honor Code allows all students to have responsibility for, and the ability to attain, appropriate recognition for their
academic and personal achievements. Academic dishonesty can result in a failing grade for the course.

To top