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University of Waterloo

ACTSC 371: Introduction to Investments Spring, 2016

Instructors:

Keith Freeland, M3 2016, ext. 33356, keith.freeland@uwaterloo.ca

Surya Banerjee, M3 2017, ext 39120, surya.banerjee@uwaterloo.ca

Class Times:

Lecture: 1:00-2:20 MW (MC 4061) (Keith),

8:30-9:50 MW (MC 4061) (Surya)

Tutorial: 1:30-2:20T (DC 1350) The tutorials are scheduled every two

 

weeks.

Course Webpage:

learn.uwaterloo.ca

Office Hours:

09:00-11:00 Friday (Surya)

Teaching Assistants:

Course Evaluation:

02:30-3:30 Monday (Keith)

See course webpage for their names, email addresses and office hours

Four Tutorial tests (10% each): May 24 th , June 7 th June 21 st and July 5 th , held during tutorial hours.

Final Exam: 60%

Syllabus:

This course provides an introduction to

 
 

Capital markets,

Analysis of equity and fixed securities

Derivative securities, including

futures, forwards, swaps and

References:

options. Investments (2014) by Bodie, et al. (8 th Canadian Edition)

Supplementary notes

Other resources:

Notes:

o

investopedia.com

1. If you miss three or more term terms (regardless of documentation) you will automatically receive a grade of DNW. Therefore you should withdraw from the course.

Illness form. See: https://uwaterloo.ca/health-services/sites/ca.health-services/files/uploads/files/VIF- online.pdf In the case of extenuating circumstances you must provide sufficient documentation to your instructor to verify the circumstances. Missed term tests without proper documentation are automatically awarded a grade of 0.

3. Remarking of Tests: If you have a question regarding the marking of a test you must first check the posted solutions. If you still have a question then please write a clear question on a separate piece of paper, attach it to your test and give it to the Head TA for the course. You have 7 days to appeal a test grade.

Weekly Schedule:

The following table gives a tentative schedule for the material covered:

Week

Chapter

Topics

   

Investment Environment

1.

May 2

1, 2 (exclude

2.5)

& Financial Markets and Instruments

   

Trading on Securities

2.

May 9

3

Markets; Time value of money

3, May 16

4

Return and Risk

4.

May 23

5, 7.1

Capital Allocation to Risky Assets & CAPM

Tutorial Test 1: May 24 th 1:30-2:20

 

5. May 30

 

12

Bond Prices and Yields

6. June 6

 

13

The Term Structure of Interest Rates

Tutorial Test 2: June 7 st 1:30-2:20

 

7. June 13

14

 

Managing Bond

Portfolios;

8. June 20

14

 

Managing Bond

Portfolios

Tutorial Test 3: June 21 st 1:30-2:20

 
   

Equity Evaluation

9.

June 27

 

16

Models; l

10. July 4

 

18

Options and Other Derivatives Markets

Tutorial Test 3: July 5 th 1:30-2:20

 

11. July 11

18, 19.1- 19.3

 

Option

Valuation

   

Futures,

12. July 18

20

Forwards, and

Swap Markets

University of Waterloo and Mathematics Faculty Policies

All instructors and students must follow the following academic policies:

Academic Integrity: In order to maintain a culture of academic integrity, member of the University of Waterloo community are expected to promote honesty, trust, fairness, respect and responsibility. See: www.uwaterloo.ca/academicintegrity/ for more information.

Discipline: A student is expected to know what constitutes academic integrity to avoid committing an academic offence, and to take responsibility for his/her actions. A student who is unsure whether an action constitutes an offence, or who needs help in learning how to avoid offences (e.g., plagiarism, cheating) or about “rules” for group work/collaboration should seek guidance from the course instructor, academic advisor, or the undergraduate Associate Dean. For information on categories of offences and types of penalties, students should refer to Policy 71, Student Discipline,

www.adm.uwaterloo.ca/infosec/Policies/policy71.htm.

See: www.adm.uwaterloo.ca/infosec/guidelines/penaltyguidelines.htm for guidelines for the assessment of penalties.

Avoiding Academic Offenses: For more information on commonly misunderstood academic offenses and how to avoid them, students should refer to the Faculty of Mathematics Cheating and Student Academic Discipline Policy. See: http://www.math.uwaterloo.ca/navigation/Current/cheating_policy.shtml.

Grievance: A student who believes that a decision affecting some aspect of his/her university life has been unfair or unreasonable may have grounds for initiating a grievance. See Policy 70, Student Petitions and Grievances, Section 4: https://uwaterloo.ca/secretariat-general-counsel/policies-procedures- guidelines/policy-70. When in doubt, please contact the department’s administrative assistant who will provide further assistance.

Appeals: A decision made or penalty imposed under Policy 70 (Student Petitions and Grievances) (other than a petition) or Policy 71 (Student Discipline) may be appealed if there is a ground. A student who believes he/she has a ground for an appeal should refer to Policy 72 (Student Appeals). See: www.adm.uwaterloo.ca/infosec/Policies/policy72.htm.

Mathematics Faculty INC Grade Policy: A grade of INC is awarded to a student who has completed course work during the term well enough that they could reasonably be expected to earn a passing mark in the course, but who was unable to complete end-of-term course requirements (usually the final exam) for reasons beyond his or her control. See:

http://www.math.uwaterloo.ca/navigation/Current/inc.procedure.shtml.

AccessAbility Services:

AccessAbility Services, located in Needles Hall, Room 1132, collaborates with all academic departments to arrange appropriate accommodations for students with disabilities without compromising the academic integrity of the curriculum. If you require academic accommodations to lessen the impact of your disability, please register with the AccessAbility Services at the beginning of each academic term.