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									                           SAINT MARY’S UNIVERSITY
                           SOBEY SCHOOL of BUSINESS
                                Masters of Finance

                                      MFIN 6663
                                 Financial Management

Instructor: Dr. Greg MacKinnon, CFA                 Phone: 420-5730
Office: SB 142                                      e-mail: greg.mackinnon@smu.ca
Office Hours: anytime I am in the office, or by appointment
website: http://husky1.stmarys.ca/~gmackinnon

Overview: This course is meant to provide an overview of the various techniques and
issues involved in financial decision making. The topics covered in this course are
extremely important because more advanced finance topics are all based on the material
covered in this course.

Calculator: You are required to have one of the following calculators for this course.
                       Texas Instruments BA II Plus (or BA II Plus Professional)
                       Hewlett Packard 12C (or 12C Platinum)
       These are the only calculators allowed when you write the CFA exams. Therefore
       it is in your own interest to get one of these now if you have not already. I would
       suggest the Texas Instruments as it is easier to use.

Text: There is no required text for this course. Much of the class material will consist of
handouts given in class (however, anything discussed in class, even if not on a handout is
considered part of the course material and may therefore be tested on exams). These will
also be available to download from the website address given above. If you miss a
handout, get it there. However, please check with me or your colleagues as I do not
guarantee that the website will be up to date at all times (although I will attempt to make
sure it is).
Much of the material for this course is also covered I the CFA Program Level I
curriculum, specifically Readings 44, 45, 50 and 51. Note that we will not cover
everything in those readings and that there will be some material covered in this class that
is not part of the CFA curriculum.

               Midterm #1                                     25%
               -Thursday November 15, Time: 2:30-4:00, Room: Scotiabank Theatre

               Midterm #2                                     25%
               -Thursday November 29, Time: 2:30-4:00, Room: Scotiabank Theatre

               2 assignments (equally weighted)                      10%
               Final exam (date to be announced)                     40%
       - It is expected that students familiarize themselves with the university policy
          on cheating and plagiarism as presented in Section 32 of the Academic
          Regulations section of the Saint Mary's University Graduate Programs
          Academic Calendar.

                                     Outline of Topics
        (This outline of topics is subject to change at the instructor’s discretion.)

1) Introduction

2) Time Value of Money
       - basics
       - net present value
       - compounding
       - annuities and perpetuities
       - mortgages

3) Bond Valuation

4) Stock Valuation

5) Alternatives to Net Present Value

6) Capital Budgeting
       - the relevant cashflows
       - relation to accounting information
       - taxes and depreciation
       - inflation
       - investments of unequal lives

8) Efficient Capital Markets

9) Risk, Return and Diversification

10) Weighted Average Cost of Capital

12) Options

11) - Operating Leverage
    - Financial Leverage
    - Overview of Capital Structure Considerations
Location of Lectures:

As you know, the MFIN classes are switching back and forth between the Scotiabank
theatre and room L171. For your information, this is a list of the location of each of the
lectures for MFIN 6663. Any changes will be announced in class, and if additional
lectures are scheduled then these will also be announced.

October 30 (9:00 – 12:00) – L171
November 1 (9:00 – 12:00) – L171
November 6 (9:00 – 12:00) – Scotiabank Theatre
November 8 (9:00 – 12:00) – Scotiabank Theatre
November 13 (9:00 – 12:00) – Scotiabank Theatre
November 15 (9:00 – 12:00) – Scotiabank Theatre
November 15 (2:30-4:00) – Midterm #1– Scotiabank Theatre
November 20 (9:00 – 12:00) – Scotiabank Theatre
November 22 (9:00 – 12:00) – Scotiabank Theatre
November 27 (9:00 – 12:00) – Scotiabank Theatre
November 29 (9:00 – 12:00) – Scotiabank Theatre
November 29 (2:30-4:00) – Midterm #2– Scotiabank Theatre
December 4 (9:00 – 12:00) – L171
December 6 (9:00 – 12:00) – L171
December 11 (9:00 – 12:00) – L171
December 13 (9:00 – 12:00) – L171

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