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FINC 334 (101)- ONLINE COURSE PRINCIPLES OF CORPORATE FINANCE Syllabus – Fall Semester 2020

Dr. Swasti Gupta-Mukherjee Background: Ph.D. Finance, Georgia Institute of Technology B.S. Chemical Engineering, Indian Institute of Technology Phone (O): 312-915-6071 E-mail: [email protected] Office: Schreiber # 418 16 East Pearson, Chicago, IL 60611 Webpage: https://sites.google.com/site/sguptamukherjee/ Note: For urgent messages (e.g. emergencies), the best/fastest way to contact me is by email. (Please DO NOT leave urgent messages on my office phone.)

This syllabus contains the policies and expectations I have established for FINC 334- ONLINE. Please read the entire syllabus carefully before deciding on continuing in this course.

Course Philosophy: This course provides students with a foundational and integrated knowledge of the core concepts in finance, mainly focusing on corporate finance and investments. Mainstream finance has largely operated separately from environmental and social development. Yet, many sustainability challenges the world faces today will require integrated solutions that successfully combine financial objectives with sustainability objectives. This course is structured to teach students about the theory and applications of the core concepts in finance, and to introduce students to the sustainability challenges that business and society face today which go beyond purely short-term financial outcomes.

Course Objectives: Topics included are based on what is traditionally covered in core business finance courses, in addition to an introduction to the relevant topics and debates that are currently impacting the real world. It serves as the basis for all other courses in the area of finance as well as providing those basic tools that every business student will need to be successful in her/his chosen career. Those students majoring in other areas of business, as well as those going further in the study of finance, will find this material an essential part of their business education. Students majoring in a non-business area should use this course as an opportunity to enhance their understanding of the big picture in the commercial and market side of any industry.

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The main topics covered include (1) time value of money and capital budgeting techniques, (2) the trade-off between risk and return, (3) capital markets and the financing decisions of the firm, and (4) new frontiers in risk, return, and business ethics focusing primarily on ESG (environmental, social, and governance) factors. After completing the course, you should be able to understand and critically evaluate the discussion of financial and relevant ethical issues in the popular press and have a framework for analyzing the major types of financial decisions made by corporations.

Revision of Syllabus While revision of the syllabus will be avoided during the semester, any necessary revisions (usually minor) will be preceded by reasonable notice to the students. Notice of such changes will be by announcement in class or by email.

Class Format: This online class is a blend of asynchronous (adaptive) and synchronous (interactive) learning. It is structured as a flipped classroom where you learn most of the theory and conceptual framework asynchronously, and then discuss practice including problem-solving and real-world issues synchronously in the virtual classroom together. Below is a schematic description of the learning environment in this course, followed by a detailed description of the purpose and expectations for each component:

Learning Method

Flow of Knowledge Professor

You

Your Peers

Asynchronous Lectures & Readings

Group Study to Review Material

Synchronous Discussions & Problem-Solving

Group Project

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Adaptive Learning: Asynchronous (out-of-class) activities are for 1) Pre-recorded PowerPoint lectures (with audio) for core material by topic, focusing on concepts 2) Reading List items including articles, videos etc., relevant to core topics and current events 3) Personalized pace that helps students optimize study time 4) Adaptive online homework, focusing on problem-solving Student responsibility: Cover material in a timely manner in preparation for synchronous discussions, debate, peer-learning in small groups, and quizzes. It is imperative that each student engages with the asynchronous activities as per the class schedule outlined in this syllabus. To be a productive and ethical contributor to peer-learning, each group member is expected to have reviewed the core material prior to meeting their group to discuss the material. Think of asynchronous learning as individual reflection. Interactive Learning: Synchronous (virtual classroom) activities are for 1) Explaining difficult concepts, hands-on problem-solving 2) Class discussion / debate on core materials, reading list items, and reflection questions 3) Class presentations on readings and project 4) Asking and answering questions 5) Taking quizzes Student responsibility: Be an engaged, prepared, and valuable contributor to peer-learning in the virtual classroom. I will especially note student contributions which • “connect the dots” between the readings, current events, and the materials covered in class, and they will count heavily towards class participation. • Share insights, references to current events, news etc. beyond the materials I share in my lectures and reading list, which adds to the learning environment. Think of synchronous learning as collective reflection.

For each topic in the course, the following are the four steps to achieving the learning objectives: Synchronous class discussion Asynchronous Self-study

Small groupstudy

Learning Goals Quiz & Homework

Required Devices: • Laptop or Computer: A desktop/ laptop/ tablet which has (at a minimum) video and audio capabilities, internet access and browser, Zoom software, and MS Office (PowerPoint, Excel, Word). • Scientific Calculator: A calculator with exponent and root functions will be necessary to work the problems in the quizzes and homework. A financial calculator is not required. No problems that cannot be solved using a scientific calculator will appear on any test. If you already have a financial calculator, you can use it.

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However, it should be emphasized that the calculator cannot replace an understanding of the problemsolving process. Relying on your financial calculator to simply plug numbers for an answer will get you into trouble – problems (academic and real world) do not always fit into a formula!

Textbooks/Reading: Required: Connect Access from McGraw-Hill for this course (McGraw-Hill e-book + Connect) Book: R. Brealey, S. C. Myers, and F. Marcus, Fundamentals of Corporate Finance (10th Edition) Recommended: Bloomberg; CNBC; Wall Street Journal; Financial Times; The Economist or other standard sources of business news

Lectures: Required: Recorded lectures and presentation slides, available on Sakai/ Resources The recorded lectures form the core material for the course. Each topic/module of the course has an associated recorded lecture. Note that the files can be quite large and may take a while to download. Please download them from a fast connection in advance of when you want to watch them. It is recommended that you print out the lecture slides prior to hearing the recorded lecture and use the printed slides to take notes as you hear the lecture. These printed slides with notes usually prove useful and convenient for homework assignments and (timed) quizzes. All recorded lectures will be encrypted with a password and should be treated strictly as the instructor’s intellectual property. No files which are part of the teaching material for this online course should be circulated privately or publicly, apart from any necessary transfers to/from other registered students in this course. To hear the recorded lecture in self-running mode, you should download the PowerPoint lecture and view it in Slide Show mode with the Speaker ON. Depending on the version of MS Office, slides will either transition automatically once my narration on a slide ends, or need you to press a key. To skip to the next slide before a narration on a slide is complete, you can use one of several keys on your computer (Right arrow, Space, Enter etc.). To repeat the narration on a specific slide, you have to exit the Slide Show mode and use the instruction for the manual mode (below), or restart the Slide Show from the specific slide you want to repeat. To hear the recorded lecture in manual mode, you should download the PowerPoint lecture and view it in Normal mode with the Speaker ON. For each slide, you should click on the Audio icon on the bottom right-hand corner of the slide to hear the narration for the corresponding slide. Special Note: Please be advised that, in some cases, you may not find it adequate to hear the recorded lectures once in order to prepare for the quiz. To get the maximum benefit, please re-play lectures (or part of the lectures) as many times as required to grasp the material. Each student is expected to have listened to the relevant lecture material at least once before the small group meetings about the topic and corresponding synchronous class discussion.

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McGraw-Hill Connect Setup for Class: If you intend to continue with the class after the first week, please register for an individual student account for McGraw-Hill Connect within about a week of the first class. This will be the main platform for you to utilize homework assignments to achieve the objectives of this course. To establish a Connect account: 1. Go to the course link: https://connect.mheducation.com/class/g-swasti-fall-2020-finc-334-101 2. Click on the “register now” button. If you have trouble with registration, please contact Customer Support.

Grading: Grading Weights Quiz I Quiz II Quiz III Class Presentations & Participation Online Homework Final Project Report Peer Evaluation

10.0% 15.0% 15.0% 15.0% 10.0% 25.0% 10.0%

Final course (letter) grades will be awarded according to the following grading scheme: [93 , 100] = A [90 , 92.9] = A[87 , 89.9] = B+ [83 , 86.9] = B [80.0 , 82.9] = B[77 , 79.9] = C+ [73 , 76.9] = C [70.0 , 72.9] = C[65 , 69.9] = D+ [60 , 64.9] = D...