California State University, Fullerton



California State University, Northridge

College of Business and Economics

Department of Finance, Real Estate and Insurance

SYLLABUS

Finance 432 - Investment Analysis and Management (Class # 12130)

Spring 2011

Professor: John Zhou Meeting Days & Time: W 7:00 - 9:45 PM

Office: JH 4113 (818) 677-4543 Facility: JH 1206

Department: JH 3125 (818) 677-2459 E-mail: zhong-guo.zhou@csun.edu

Office Hours: W 6:00 - 7:00 PM & F 5:00 - 6:00 PM

I. COURSE OUTLINE

This is an introductory course on the fundamentals of investment analysis and management. We will cover topics such as corporate and government securities, risk-return tradeoff, mutual funds, security markets, fundamental and technical analysis, stock and bond valuations, portfolio theory, and portfolio management. The intent of the course is to provide students with a basic understanding of different alternatives in investments, how to value those investments, and how those investments fit together within an investment portfolio.

II. TEXT

Required: Essentials of Investments by Bodie, Kane, and Marcus, 8th edition, McGraw-Hill

Required: A financial calculator (recommended TI BAII plus or TI BAII plus professional)

Required: Lecture notes (will be emailed to students before the class begins)

III. PREREQUISITE

Finance 303

IV. ASSIGNMENTS

Problem sets will be assigned after each chapter. These questions are designed to provide students with problem-solving experience. Some of the problems will be reviewed in class.

V. RECOMMEDED READINGS

The Wall Street Journal, Barron’s, and financial pages of LA TIMES

VI. EXAMS

There will be two tests with equal weights. They are basically non-cumulative. All tests are closed book and in class. Students who miss any exam without prior permission from the instructor will receive a score of zero for that test. No exceptions.

VII. GRADING

Midterm Exam 50%

Final Exam 50%

The grade will be based on the overall score of the course as follows:

90 or above (A); 87-89 (A-); 84-86 (B+); 80-83 (B); 77-79 (B-); 74-76 (C+);

70-73 (C); 67-69 (C-); 64-66 (D+); 60-63 (D); below 60 (F)

VIII. TENTATIVE SCHEDULE

TOPICS READINGS

Part 1: Elements of Investments

Investments: Background Chapter 1

Asset Classes and Financial Institutions Chapter 2

Security Markets and Transactions Chapter 3

Investment Companies Chapter 4

Part 2: Portfolio Theory and Market Efficiency

Risk and Return Chapter 5

Efficient Diversification Chapter 6

Asset Pricing Models Chapter 7

Efficient Market Hypothesis Chapter 8

Midterm Exam

(It is scheduled at 7:00 - 9:00 PM on March 16 and it covers chapters 1-8.)

Part 3: Debt Securities

Bond Prices and Yields Chapter 10

Managing Bond Portfolio Chapter 11

Spring Recess (April 4 - 9) No Class

Part 4: Security Analysis

Macroeconomic Analysis Chapter 12

Equity Valuation Chapter 13

Part 5: Active Investment Management

Portfolio Performance Management Chapter 18

Globalization and International Investing Chapter 19

Final Exam

(It is scheduled at 8:00 - 10:00 PM on May 18 and it covers chapters 10-13 and 18-19.)

WITHDRAWAL AND ACADEMIC DISHONESTY POLICIES

They conform to the withdrawal and dishonesty policies of the California State University, Northridge.

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