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BUS 468/568 - FINANCIAL MARKETS AND INSTITUTIONS UNIVERSITY OF MICHIGAN-FLINT FALL SEMESTER 2007 Professor: Office: Phone: email: Office Hours: Website: Blog: Dr. Mark J. Perry 4173 WSW Building (Inside 4166 WSW) (810) – 424-5413 firstname.lastname@example.org All the time www.umflint.edu/~mjperry mjperry.blogspot.com Prerequisites: BUS 361 Financial Management or MGT 561 Financial Management Required Materials: Financial Markets and Institutions, 3rd Edition, by Saunders and Cornett Financial calculator (HP-10B II preferred), Please review my “Calculator Keystroke Guide” on my course website as soon as possible. Wall Street Journal subscription (available free through SOM this year) Course Objective: This course provides an overview of the global financial system in which financial managers and investors operate. The purpose of the course material is to apply general finance concepts specifically to the management of financial institutions. We will examine the evolving structure and role of financial markets and financial institutions in providing financial intermediary services to the economy in the dynamic Information Age. Attention will be given to financial markets in the context of intense global competition, increased capital mobility and global harmonization due to the recent domestic and international deregulation of financial intermediaries. Additionally, the various forms of risks faced by financial intermediaries will be covered, with an emphasis on the risk management techniques available to managers of financial institutions like commercial banks. Grading Policy: With acceptable attendance, letter grades will be assigned according to the following adjusted, bonus grading scale: A 85-100%, B 75-85%, C 65-75%, D 50-65%, F 50% or less; otherwise students will be graded according to a traditional grading scale (A 90-100%, B 80-90%, etc.). Pluses and minuses will be given. Material Covered: Chapters 1-4, 6-11 and 19-23 in the textbook Graded Material: Midterm Exam I, Chapters 1-4, 6-7 and 9 Problem Sets (8 @ 15 points each) Please review guidelines on my website for preparing the Problem Sets Final Examination, Chapters 8, 10-11 and 19-23 (December 12) TOTAL 300 points 90 points 120 points 90 points Exams: Examinations will be a combination of multiple choice questions, short essays, T-F-U/explain essays, and problems. There may be extra credit points on the exams, but no other extra credit will be available. A study guide will be handed out one week before each exam. Website, Blog and Blackboard: I have a web site at: http://www.umflint.edu/~mjperry, which contains class materials including the syllabus, lecture notes, study guides, an email feature, and links to other web sites. There is also a 468 Blackboard course website at: http://online.umflint.edu, where scores and grades will be posted. I write daily about finance and economics in my blog Carpe Diem: http://mjperry.blogspot.com. Attendance: Regular attendance is expected, will be taken at each class, and will affect your grade as outlined above. To receive credit for attendance, you will not be allowed to study or work on assignments for other courses during the lectures for BUS 468, and you must remain awake. Please check your UM-Flint email on a regular basis for announcements about the class, clarification on problem sets, etc. You are responsible for any announcements sent by email. TENTATIVE COURSE SCHEDULE Week 1 (8/29) Introduction and Chapter 1 - Financial Markets and Institutions Problem Set #1 (Please prepare according to the “Guidelines for Problem Sets”) Chapter 2 - Determinants of Interest Rates Chapter 3 – Interest Rates and Security Valuation, including Appendix 3B Problem Set #2 Chapters 6 and 7 - Bond Markets and Mortgage Markets Problem Set #3 Chapter 9 - Stock Markets, including Appendix 3A (Equity Valuation) Problem Set #4 Chapter 4 - Federal Reserve, Monetary Policy and Interest Rates Review for Midterm Examination 2-class Midterm Examination on Chapters 1 – 4 and 6-7 and 9, 90 points Go over Results from Midterm Examination Chapter 8 - Foreign Exchange Markets (possible) Problem Set #5 Chapter 10 - Derivatives Problem Set #6 Chapters 11 - Commercial Banks and Chapter 19 - Types of Risk Incurred by Financial Institutions Chapter 22 - Interest Rate and Insolvency Risk Chapter 23 - Managing Risk with Derivatives and Appendix 24A Problem Set #7 Chapter 20 - Managing Credit Risk Chapter 21 - Managing Liquidity Risk Problem Set #8 Review for Final Examination (Last class meets on December 10) Final Examination on Chapters 8, 10-11, and Chapters 19-23 (90 points) Week 2 (9/5) Week 3 (9/10) Week 4 (9/17) Week 5 (9/24) Week 6 (10/1) Week 7 (10/8) Week 8 (10/15) Week 9 (10/22) Week 10 (10/29) Week 11 (11/5) Week 12 (11/12) Week 13 (11/19) Week 14 (11/26) Week 15/16 (12/3) December 12 4:15 p.m. Note: Schedule is subject to change and announcements about changes will be made in class or by email.
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