MA Jiacheng-Syllabus

University of Macau Faculty of Business Administration Department of Accounting and Information Management FINC212 Linear Algebra for Finance First Semester 2011/2012 GENERAL INFORMATION Instructor:

Hang-Fai Yeung, L418 Tel.: 83974745, E-Mail: ramanujan321@yahoo.com.hk, or through mailbox in webcourse Office Hours: Mon, Thur 11:00 – 12:30

Gaduate Assistant Graduate Assistant: Bob Huang Block 1, B211, Tel: 83974539 E-mail: wenpohuang@umac.mo

Course Description This course is intended to provide conceptual understandings and computational techniques of linear algebra. Linear algebra has wide applications to diverse areas in natural science, engineering, business and social science. This course covers linear equations, matrices, determinants, vector spaces, inner product spaces, linear transformations, eigenvalues and eigenvectors and their applications to finance and statistics

Aims The course is designed to provide students with a range of techniques in linear algebra to enable them to understand the rationale behind them, and the second aim is to provide a foundation in mathematics for students who anticipate taking other mathematically oriented economics or finance courses.

Syllabus Linear equations, matrices, determinants. Introduction to vector subspaces and linear transformations and bases. Eigenvalues and eigenvectors; diagonalization. Inner products and orthogonality. Least squares problems. Quadratic forms. The course emphasizes matrix and vector calculations and its applications.

Problem sheets and Assignments Supplementary problem sheets and lecture notes can be downloaded from the course’s webpage on UMMoodle. In-class exercises will be given regularly to reinforce the material covered in the lectures. There will be 3 homework assignments. You are encouraged to talk with each other, the teaching assistants and the instructor about the homework, but you must write up the solutions yourself, using your own words.

Textbook David C. Lay, Linear Algebra and Its Applications, 3rd Ed., Addison Wesley 2003

Other recommended readings

There are many online materials and books that are useful, some are listed below: • Linear Algebra Course at MIT: http://web.mit.edu/18.06/www/ • Gilbert Strang, Introduction to Linear Algebra, 3rd edition, 2003 • Howrad Anton, Elementary Linear Algebra, 9th Edition, Wiley 2005 • Steven Leon, Linear Algebra with Applications, 8th Edition, Prentice Hall 2010 • Carol Alexander, Chapter I.2, Quantitative Methods in Finance, Wiley 2008 • Seymour Lipschutz, 3000 solved problems in linear algebra, McGraw Hill 1989 • Seymour Lipschutz, Schaum's outline of theory and problems of beginning linear algebra, McGraw Hill 1997 • Seymour Lipschutz, Schaum's outline series of theory and problems of linear algebra, McGraw Hill 1981

Assessment

Three Assignments, attendance and class participation One 100-minute midterm* exam (20 MC questions) Final examination held in December 2011 (2 hrs.)

(20%) (30%) (50%)

* The tentative date and time for the midterm exam will be either 3 Nov. 18:30 – 19:50, or 5 Nov. 14:30 – 15:50

Remarks •

• • •

•

•

It is important for you to attend all classes and arrive on time. In cases of default you should find out whether you have missed any handouts or announcements. Students whose attendance rate is below 80% and who cannot provide valid documents to support their absence will receive a grade of F. No mobile phone in class/exam.

Late submission of assignments is strictly not entertained.

No make-up exams. In the case that your absence from the midterm is substantiated by valid document, the 35% assessment will be relocated to your final, so that your final exam will account for 80% of your total assessment.

A student who is absent from the final examination due to ill health or other misadventure will NOT be granted additional assessment unless their performance in mid-term examination and attendance are satisfactory.

Cheating is a serious offense and those who are caught in doing that or assist someone else in doing it will be severely punished.

Schedule for FINC212 Linear Algebra for Finance

Problems below refer to the Book: ”Linear Algebra and Its Applications” by David Lay, 3rd Edition Lecture

Section in Textbook

Suggested Problems in Lay’s book (not collected or graded)

1

§1.1 Systems of Linear Equations §1.2 Row Reduction

1.1: 5, 15, 21, 23 1.2: 1, 15, 18, 19, 23, 33

2

§1.3 §1.4 §1.5 §1.7

1.3: 1.4: 1.5: 1.7:

3

Vector Equations Matrix Equations Solution Sets Linear Independence

4

§1.8 Linear Transformations §1.9 Matrix of a Linear Transformations

5

§2.1 §2.2 §2.3 §2.4

6

Matrix Operations Inverse of a Matrix Invertible Matrices Partitioned Matrices

5, 3, 1, 1,

11, 15, 21 5, 7, 9, 13, 23, 31 2, 5, 7, 13, 15, 17, 21, 23 7, 11, 19, 21, 27

1.8: 13, 15, 17, 19, 21, 25, 31 1.9: 1, 3, 9, 23, 31, 35 2.1: 2.2: 2.3: 2.4:

1, 3, 5, 7, 19, 23, 25, 27 3, 6, 7, 9, 10, 13, 21, 23, 31, 35 3, 4, 6, 7, 13, 15, 21 7, 9, 21

7

§2.5 LU Factorization

2.5: 1, 9, 15, 25

8 9

§3.1 Determinants §3.2 Properties of Determinants §2.8 Subspace of R n

3.1: 1, 3, 5, 7, 9, 13, 23, 33, 35, 37 3.2: 5, 9, 11, 19, 25, 29, 35, 39 2.8: 1,3, 7, 9, 11, 17, 19, 23, 29,31, 33

10

§2.9 Dimension and Rank

2.9: 9, 11, 13, 19, 21

11

§5.1 Eigenvectors and eigenvalues §5.2 The characteristic equation

5.1: 1, 3, 5, 7, 9, 15, 17, 19, 23, 27, 29 5.2: 1, 3, 5, 9, 11, 15, 23, 27

12

§5.3 Diagonaliztion of matrices

5.3: 1, 3, 5, 9, 11, 15, 23, 27, 31

13

§6.1 Inner Product, §6.2 Orthogonal sets

6.1: 1, 3, 5, 17, 19, 25, 27, 29 6.2: 1, 3, 5, 11,19, 27, 29

14

§6.3 Orthogonal Projections and The Best Approximation Theorem

6.3: 1, 3, 5, 7, 11, 15, 19

15

§6.4 The Gram-Schmit Process

6.4: 1, 3, 5, 9, 11, 13, 15

16

§6.5 Least-Squares Problems §6.6 Linear Models

6.5: 1, 3, 5, 7, 9, 13, 15, 25 6.6: 1, 3, 7, 9, 17

17

§7.1 Diagonaliztion of symmetric matrices

7.1: 1, 3, 5, 7, 9, 13, 17, 19, 27, 29, 33

18

§7.2 Quadratic Forms

7.2: 1, 3, 5, 7, 9, 11, 23, 25

19

§7.4 The Singular Value Decomposition

7.4: 1, 7, 9, 13

§7.5 Principal Component Analysis

7.5: 1, 3, 7, 9

(if time permits)

20 (if time permits)

UNIVERSITY OF MACAU Faculty of Business Administration

FINC213 − Statistics for Finance Fall Semester 2011/2012

Instructor:

Simon So (Office L310, Tel. 8397 4715, fbasms@umac.mo)

Lecture Hours:

Section 001

Mon / Thur

2:30pm – 3:50pm

U104

Section 002

Mon / Thur

8:30am – 9:50am

JLG202

Consultation Hours:

Mon / Thur

10:00am – 12:00am (or by appointment)

Course Objective:

This one-semester course aims to provide students with a solid training in the principles and procedures of statistical theories, which are important for making business decisions. The objectives are therefore to give students statistical knowledge and techniques to analyze and solve real world business problems and to introduce the basic concepts of probability as well as the mathematics of probability theories. The emphasis here is on developing students’ ability to effectively choose the correct statistical techniques and communicate statistical data and results of analysis.

Required Text:

Sweeney D. J., Williams T. A., & Anderson D. R., Fundamentals of Business Statistics, 6th Edition, CENGAGE Learning.

References:

(1) Levine D. M., Krehbiel T. C., & Berenson M. L., Business Statistics: A First Course, 5th Edition, Pearson Education. (2) Miller I. and Miller M., John E. Freund’s Mathematical Statistics with Applications, 7th Edition, Prentice Hall. (3) DeGroot, M. H. and Schervish, M. J., Probability and Statistics, Addison Wesley.

•

Some course materials will be available in the UMMoodle: http://webcourse.umac.mo for your reference. Students are recommended to download the course materials and bring them to the classes.

1

Course Content: 1. Introduction to Statistics and Data Analysis

2 lectures

Reading: Textbook Chapters 1 & 3 2. Fundamentals of Probability

3 lectures

Reading: Textbook Chapter 4 3. Random Variables and Probability Distributions

3 lectures

Reading: References 4. Mathematical Expectation

2 lectures

Reading: References 5. Some Common Discrete Probability Distributions

2 lectures

Reading: Textbook Chapter 5 6. Some Common Continuous Probability Distributions

2 lectures

Reading: Textbook Chapter 6 7. Sampling and Sampling Distributions

2 lectures

Reading: Textbook Chapter 7 8. Estimation and Confidence Intervals

3 lectures

Reading: Textbook Chapter 8 9. Fundamentals of Hypothesis Testing

3 lectures

Reading: Textbook Chapter 9 10. Hypothesis Tests: Additional Topics

3 lectures

Reading: Textbook Chapter 10

Evaluation Profile:

Participation / Assignments / Quizzes§

20%

Mid-Term Examination^ (Topics 1. – 5.)

30%

Final Examination (Topics 1. – 10.)

50%#

Total §

100%*

The schedule and the number of assignments and quizzes are subject to the actual progress in class.

^

The mid-term examination is scheduled on 28th Oct. (Fri.) from 7:30 to 9:30pm.

#

Students whose marks are less than 30 in the final examination will receive a fail grade (F) for the course.

* Students who are absent from the course for more than 20% of the scheduled teaching periods in the aggregate (or five classes) will receive a fail grade (F).

2

University of Macau Faculty of Business Administration FINC341 – Theory of Finance Fall 2012/13 Instructor: Prof. Lewis Tam (譚漢強) Office: PLG410; Phone: 8397-8870; e-mail: lewistam@umac.mo Office hours: 15:00 – 17:00 on Tuesday; 10:30 – 12:30 on Friday Lecture time and venue: Session 001: 8:30 – 11:20 (Tuesday) at RLG204; Session 002: 14:30 – 17:20 (Friday) at JG14 Course outline This course provides an in-depth analysis of modern finance theory and serves as a building block for all the upper-level finance courses. Topics include equilibrium models of asset pricing, the efficient market hypothesis (EMH), option pricing, and accounting and financial markets.

Learning objectives By the end of the course, students should be able to understand: i) basic usage of various financial databases; ii) the driving forces of expected stock returns (or cost of equity); iii) market efficiency and their implications to investors; iv) foundations of option pricing; v) corporate governance.

Grading policies Your course grade will be determined by your performance in class participation (5%), group homework assignments (20%), mid-term examination (30%) and final examination (45%).

Group homework assignments. By September 7, you should have formed a group of 3 to 4 students and submitted to me your group list for the group homework assignments.

Mid-term and final examinations. The mid-term examination and the final examination will last for 2-3 hours each. You will be required to answer 4 to 5 numerical/essay questions. You may bring along with you a calculator and a paper dictionary to the examinations. Important: There will be NO make-up for the examinations, unless your absence is caused by an accident or illness and you can provide me with a certification from a medical doctor. Please arrange your schedule properly.

Reference books: 1. Copeland, T.E., Weston, J.F., and Shastri, K. (CWS), Financial Theory and Corporate Policy, 4th edition, Pearson.

2. Brealey, R.A., Myers, S.C., and Marcus, A.J. (BMM), Fundamentals of Corporate Finance, 6th edition, McGraw Hill.

3. Welch, I., 2005, A First Course in Finance, unpublished version.

Wharton Research Data Services (WRDS) WRDS is a web-based business data research service from The Wharton School at the University of Pennsylvania. Developed in 1993 to support faculty research at Wharton, the service has evolved to become a common tool for research for over 290 institutions around the world.

WRDS is the de facto standard for business data, providing researchers worldwide with instant access to financial, economic, and marketing data though a uniform, web-based interface. This hosted data service has become the locus for quantitative data research and is recognized by the academic and financial research community around the world as the leading business intelligence tool.

To access data from the WRDS, visit the following webpage: http://wrds-web.wharton.upenn.edu/wrds/index.cfm?true and enter the user name and password (to be distributed in class).

The GTA RSC System The GTA RSC system provides instant access to data on China’s economy and financial markets. Users can conveniently browse and download data, academic material, information, news, software and much more at any time and anywhere.

The Data sector provides data based on the existing CSMAR database series, offering search, download and data customization services. The data has extensive ranges with a simple and standard format, covering economics, company information, the stock market, the fund market, the bond market, the futures market, the foreign exchange market, the gold market, the real estate market, the Hong Kong market, the overseas markets, etc.

To access GTA’s data, visit the following webpage: http://hk.gtarsc.com/en. The data can be accessed within the campus network only or through the VPN. Class Schedule 1.

Sess. 001

Sess. 002

Aug 28

Aug 31

Topic Review of Mathematical Concepts Calculation of expected value and standard deviation  Statistics for portfolios  Matrix operation 

Background readings on portfolio mathematics:  Book chapter on matrix algebra

2.

Sess. 001

Sess. 002

Topic

Sept 4

Sept 7

Introduction to Finance and Economics Laboratory  Bloomberg terminals  The WRDS platform  The CSMAR platform

Sept 11, 18, 25

Sept 14, 21, 28

Capital Market Theory Efficient frontier and definition of market portfolio  The Capital-Asset-Pricing Model (CAPM) - its assumptions and limitations  The Fama-French three-factor model 

Book chapters (one of the followings only): (CWS) Chapter 5 “Objects of choices: Mean-variance portfolio theory” and chapter 6 “Market equilibrium: CAPM and APT”;  (Welch) Chapter 14 “The Principle of Diversification”, chapter 15 “The Efficient Frontier: Optimally Diversified Portfolios”, and chapter 17 “The CAPM: The Theory and Its Limits” 

Articles: Perold, A.F., 2004, “The Capital Asset Pricing Model”, Journal of Economic Perspectives, 18, 3-24;  Fama, E.F., and French, K.R., 2004, “The Capital Asset Pricing Model: Theory and Evidence”, Journal of Economic Perspectives, 18, 25-46. 

3.

Oct 9, 16, 30

Oct 5 (or 12), 19, 26

Efficiency Market Hypothesis (EMH): Theory and Evidence Forms of EMH and their implications to decision makers  Empirical tests on market efficiency  Behavioral finance 

Book chapters: (Welch) Chapter 18 “Efficient Markets, Classical Finance, and Behavioral Finance”



Articles: Malkiel, B.G., 2003, “The Efficient Market Hypothesis and Its Critics”, Journal of Economic Perspectives, 17, 59-82.  Barberis, N., and Thaler, R., 2003, “A Survey of Behavioral Finance”, in Chapter 18 of Handbook of the Economics of Finance, edited by G.M. Constantinides, M. Harris and R. Stulz, 1051-1073. 

Oct 16

Oct 19

Oct 24 4.

Nov 6, 13

Review for the Mid-term Examination Mid-term Examination

Nov 9, 16

Option Pricing Understanding options  Valuation of options – binomial approach 

Book chapters:  (BMM) Chapter 23 “Options”  (CWS) Chapter 7 “Pricing Contingent Claims: Option Pricing Theory and Evidence”, 199-222.

5.

Sess. 001

Sess. 002

Nov 20, 27

Nov 23, 30

Topic Corporate governance Agency problems  Corporate governance mechanisms 

Required readings: (Welch) Chapter 28 “Corporate Governance”.



Nov 27 To be announced

Nov 30

Review for the Final Examination Final Examination

University of Macau Faculty of Business Administration FINC343 – Financial Markets and Institutions Autumn / 2012

Instructor: Dr. Susan Ren (任錦娟) Office: L322; Phone: 8397- 4185; e-mail: JinjuanRen@umac.mo Office hours: 15:00 – 17:00 / Tuesday, or by appointment Section 001 002

Time 08:30 - 11:20 / Friday 08:30 - 11:20 / Tuesday

Room J322 RLG304

Course outline: Recent financial crises have highlighted the importance of financial markets and institutions in the global economy. In this course, we study how financial markets and financial institutions work. Key topics include the money market, the bond market, the stock market, the foreign exchange market and the management and regulation of financial institutions.

Required reading:  

Lecture Notes (LN) Textbook: Financial markets & Institutions, by Frederic S. Mishkin and Stanley G. Eakins, 7th edition, Pearson.

A webcourse (i.e., UMMOODLE) has been set up for this course and you can download all the Powerpoint slides to be presented in classes and other course materials from the website.

Grading policies: Item Case presentation Quizzes Final examination Total

15 * twice 10 * twice

Weight (%) 30 20 50 100

You should attend all classes on time. Any student missing 20% or more of the classes for whatever reasons (which means three or more times of absence) will NOT be allowed to sit the final exam, thus failing the course automatically.

There will be two case presentations, two quizzes, and one final examination. The case presentations are worth 30% of your final grade. Please form groups of five persons each.

Each group will present twice and all members within the same group get the same marks for the case presentations. The two quizzes last for 20 minutes each and totally contribute 20% to 1

your final grade. The final examination will last for 3 hours and contribute the remaining 50% of your final grade. In the examinations, you will be required to answer multiple-choice questions and numerical/essay questions.

Important: There will be NO make-up for the quizzes or examinations, unless your absence is justified by an accident or illness and you can provide me with a certification from a medical doctor. Please arrange your schedule properly.

You may bring a calculator to the examinations. NO formula sheets and NO dictionary. NO PDA, digital dictionary or calculator which provides text-storage function.

Course schedule: Week

Topic

Chapters

1

Revision & introduction

1&2

2

Interest rates

3&4

3

Money market & Bond market

11 & 12

4

Quiz 1& Stock market

13 & 6

5

Mortgage market & Foreign exchange market 14 & 15

6

Monetary policies & Banking industry

10 & 19

7

Mutual fund & Pension fund industry

20 & 21

8

Quiz 2 & CFA ethics

9

Case presentation

10

Case presentation

11

Case presentation

12

Case presentation

13

Behavioral finance Final examination

2

UNIVERSITY OF MACAU FACULTY OF BUSINESS ADMINISTRATION FIRST SEMESTER 2012/2013 Course: Instructor: Office: E-mail:

Finc421 - Case Studies in Corporate Finance Dr. Adrian Lei L212/83974162 adrianl@umac.mo

Reference Textbook Robert F. Bruner, Case Studies in Finance, 6th Edition, McGraw-Hill Course Description This is a case-method course in Corporate Finance. Students will learn to make investment and financing decisions in the financial manager perspective, and produce project analysis by combining finance concepts and analytical skills.

Course Objectives By the end of the course, students should be well-equipped in applying basic tools of corporate finance (Net present value calculations, cost of capital estimations, methods of evaluating investments and financing choices available to the firm, and others) to solve real world cases and able to stage important project presentation to management of a company.

Area of Cases 1. Bond and Stock Valuation 2. Financial Statement Analysis 3. Financial Planning and Forecasting 4. Corporate Valuation 5. Capital Budgeting Decisions 6. Capital Structure Decisions 7. Derivatives and Risk Managements 8. Corporate Default Risk 9. Corporate Governance Prerequisites Successful completion of Financial Management I & II or equivalent courses. In addition, discussions, readings and case studies presume a good working knowledge of statistics and solid foundation in accounting and finance.

Assessment: Case Reports Participation (Attendance + Discussion) Take-home exam (Individual Case Study)

35 35 30

*I reserve the right to make any modification appropriate for the administration and evaluation of the class.

Class Schedule Week 1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th 12th

Aug 29 Sep 5 Sep 12 Sep 19 Sep 26 Oct 10 Oct 24 Oct 31 Nov 7 Nov 14 Nov 21 Nov 28

Topics Introduction Form group, Financial Statement Analysis Introductory Case (Warrant Buffet) Financial Forecasting and Planning (Body Shop) Financial Forecasting and Planning Progress Consultation Cost of Capital (Boeing 7E7) Capital Budgeting (Diamond Chemicals) Progress Consultation Currency Risk Management (Carrefour) Real Options (Kimberly-Clark)/ Individual take-home case study Review and Collection of take-home case study

East and West:

Instructor:

A Short Contemporary World History Autum 2010 Ping He

Office: PG 25 ,

Tel: 8397 8325

Course Description: The goal of this course is to learn East and West contemporary history in its global context. It will focus on international political economy, studying the different events that help shape the contemporary world. The course will introduce students to the workings and politics of the world economy. We will look at both American and Soviet foreign policy as well as the unraveling of the old colonial relations between Europe and much of Asia and Africa and look within that global political and economic realignment for the beginning of the processes that have come to be known generally as globalization. The class will thus provide a perspective longer than the immediate postwar period on which scholars of the Cold War often focus. To what extent do the diplomatic and world economy strands of scholarship provide compatible narratives? What are the origins of the Cold War? Where does the Third World fit in? How did the globalization proceed?

How did events of the two world wars and the post World II assist the integration of the world politics and economics? The course aims to impart a historically-grounded understanding of political, economic and diplomatic trends of the last century.

Assignments and Evaluation PPT Presentations and Group Discussions (20 percent): Students must prepare group PowerPoint presentations on a topic of their choice on any issue concurrent with the week’s historical theme and time period. Everyone in the group must participate during the presentation. You can also make a short presentation of the article you read.

Paper (20 percent): Students will be expected to complete a paper of about 5-8 pages in which you choose one of the two options: a research paper on a subject related to the main concerns of this course, or a critical essay on three or four related books (not the two textbook). You can have a discussion with me about your plan if you like. Begin your paper by stating as clearly as possible the fundamental question that the author is trying to answer in the essay. Then explain as clearly as possible the main point the author makes in answering that question. If you are at all confused about what the assignment is asking you to do, be sure to talk to me before you start writing! The paper will be graded on the basis of its logic, clarity, and accuracy. The paper should be handed to me before the end of March.

Final Exam (60 percent) You will be asked to answer essay questions or have a multiple choice exam.

Required Textbook: Jeffrey A. Frieden, Global Capitalism.

W.W. Norton and Company, 2006)

Its Fall and Rise in the Twentieth Century (New York:

Fareed Zakaria, The Post-American World (New York:

W. W. Norton, 2008)

Schedule

1

9-12/2 Readings

The capitalist world system in the early 20th century Frieden, Global Capitalism, pp. 13-55.

16-19/2 Readings

World War I: background and its consequence Frieden, Global Capitalism. pp. 6-12, 56-77, 127-155

23-26/2 Readings

The Great Depression and its consequences Frieden, Global Capitalism pp. 173-194.

2-5/3 Readings

The crisis of capitalism, World War II Frieden, Global Capitalism, pp.194-215.

9-12/3 Readings

The Communist revolutions (Russia, China) Frieden, Global Capitalism, pp.215-220, 271-276.

16-19/3 Readings

Creating the Postwar World Economy Frieden, Global Capitalism, pp. 253-300.

23-26/3 Readings

The Cold War (Korean War, Viet Nam War, Afghanistan War) George F. Kennan, “The Sources of Soviet Conduct� Foreign Affairs XXV (July 1947).

30/3-2/4 Readings

Economic development until 1973 Frieden, Global Capitalism, pp. 301-359.

6-9/4 Readings

The progress of economic integration Frieden, Global Capitalism, pp. 363-391.

13-16/4 Readings

The Soviet Collapse and the End of the Cold War Frieden, Global Capitalism, pp. 413-472.

20-23/4 Readings

The Rise of the Rest, America in Decline?

Zakaria, The Post-American World, pp. 1-86,

27-30/4 Readings

Environment and other issues Zakaria, The Post-American World, pp. 167-260

5-16/5

Final exam

87-166

2

University of Macau Undergraduate Civil Engineering, Computer Science, Electrical and Computer Engineering, Electromechanical Engineering, Mathematics Programs Part A Syllabus Coordinating Unit:

Department of Mathematics, Faculty of Science and Technology

Supporting Unit(s):

Nil

Course Code:

MATB110 / MATH 101

Course Title:

Calculus I / Mathematical Analysis I

Compulsory/Elective:

Compulsory

Course Prerequisites:

Nil

Prerequisite Knowledge:

Nil

Duration:

One semester

Class/Laboratory Schedule:

Three hours of lecture and one hour of tutorial per week.

Laboratory/Software Usage:

Nil

Course Description:

This course, together with Calculus II / Mathematical Analysis II , aims at providing students with a solid foundation of one variable calculus. The topics include limit and continuity, derivative and its application, integral and it applications.

Course Objectives:

1.

2.

3.

Learning Outcomes (LOs):

Texts & References:

Year of Study:

1

Credit Units:

3

To introduce the fundamental theories of calculus.

Be able to formulate and solve problems using derivatives.

Be able to formulate and solve problems using integrals.

Upon completion of this course, students are expected to: 1. understand and be able to evaluate limits [PO: a] 2. understand and be able to find the derivatives of functions [PO: a] 3. be able to use derivative in applied problems [PO: a] 4. understand and be able to find the integrals of functions [PO: a] 5. be able use integral in applied problems [PO: a]

1.

*Calculus, Early Transcendentals Version, 7th Ed, C. H. Edwards and D. E. Penney, Prentice Hall

(* recommended textbook(s))

2.

Student Assessment:

• • •

Assignments: 15% Midterm examination: 25% Final examination: 60%

•

Assignments, midterm and final examination

Learning Outcome Assessment:

Calculus and analytical geometry, 9th Ed. Thomas and Finney, Addison Wesley.

; Lecture

Service learning

Guest speakers

Internship

Case study

Field study

Pedagogical

Role playing

Company visits

Methods:

Student presentation

e-learning

Project

Independent study

Simulation game

Others: _____________________

; Exercises and problems

Assignments

(15%)

Quizzes

(0%)

9

Midterm Exam (25%)

9

Final Exam

9

(60%)

Others (please specify)

Course Web: (if any)

Others (please specify)

Class Participation/ Discussion (0%)

Oral examination

Written examination

Company visits

Field Study

Internship

Service learning

Exercises & problems

Simulation Game

Group project/paper

Individual project/paper

Student Presentation

Role Playing

For each Major Assessment Method below, please indicate the specific pedagogical methods involved (by putting a 9 in the relevant box(es) on the right-hand side).

Case Study

Major Assessment Methods:

Week no.

1 2 3

4, 5

6, 7, 8

Course Content: (topic outline)

7 or 8 9, 10, 11

12, 13, 14

TBA

Topics Introduction A brief review of functions. Tangent lines and slope predictors.

Limit and continuity The concept and operations of limit. The concept of continuity.

The derivative The derivative and rate of change, basic differentiation rule, the chain rule, derivative of algebraic functions Applications of derivative Optimization on closed intervals, applied optimization problems, derivatives of trigonometric functions, Newton’s method More applications of derivatives Differentials and linear approximation, increasing and decreasing functions and the Mean Value Theorem, first derivative test, curve sketching.

Midterm examination The integral Antiderivative and initial value problem, elementary area computations, Riemann Sums and the integral, evaluation of integrals, the fundamental theorem of calculus, integration by substitution, area of plane regions, numerical integration.

Applications of integral Riemann sum approximation, volumes by method of cross sections and method of cylindrical shells, arc length and surface area of revolution. Natural logarithm as an integral, inverse trigonometric functions, hyperbolic functions.

Final Examination

TBA: To be arranged by the Registry

Assignment no.

--

LO no.

1,2

1

1

2

2

3,4

3

5,6,7

3

8, 9, 10

4

10, 11,12

5

Contribution to POs# Program Outcomes

5 --------------> 1 Significant Least

5 (a) apply knowledge of mathematics, science, and engineering

9

(b) design and conduct experiments, and analyze data (c) design components, systems or processes in presence of constraints (d) Function in a multi-disciplinary team

Contribution to Program Outcomes:

(e) Engineering problem solving (f) Understand professional and ethical responsibility (g) Communicate effectively (h) Understand the impact of engineering solutions to the society (i) Recognize the need and have the ability for lifelong learning (j) Have knowledge of contemporary issues (k) Apply the skills, techniques, modern engineering tools (l) Use the computer/IT tools relevant to the discipline # Note

5: Significant contribution; 4: Supporting contribution; 3: Moderate contribution; 2: Marginal support; 1: Least support

Syllabus Prepared by:

Prof. Raymond, che man, CHENG

Course Instructor(s):

Prof. Raymond, che man, CHENG and Mr. Michael, lung yam, WAN

4

3

2

1

Part B General Course Information and Policies 1st Semester 2012 – 2013 Instructor for Session 002 (Lectures)

Teaching Assistant for Session 002 (Tutorials & Marking Homework Assignments)

Mr. Michael lung yam, WAN E-mail address: miclywan@umac.mo Office: A711, Block 1 Tel. No.: 8397 8463

Ms. biting ZHOU E-mail address: mb25513@umac.mo Office: GB, Block 2 Tel. No.: 8397 4496

Time/Venue: (Lecture) Monday & Thursday: HG 02 10 a.m.—11:30 a.m.

(Tutorial 1) Wednesday: N 201 3 p.m.— 4 p.m.

(Tutorial 2) Saturday: N 201 11 a.m.— 12 noon (Please attend the tutorial according to your timetable schedule) General Comment: All students are expected to attend all lectures, tutorials, class tests, and final examination. In order to be successful in this course, students should get as much practice as possible in solving problems outside the class hours. This must be done on a timely and regular basis, as a good understanding of the material covered in any particular section of this course depends heavily on an equally good understanding of the material covered in previous sections.

Homework Policy: All homework must be an individual effort unless specifically noted. Your work must be neat, with answers clearly noted and supporting information provided. Late homework will not be accepted in general.

Requirement: No pager or mobile phone will be allowed to use during the time periods for lectures, tutorials, quizzes, test and examination.

Assessment: Homework Assignments: Mid Term Examination: Final Examination: (minimum mark for passing the course: 50%)

15% 25% 60%

Grading System: The credit is earned by the achievement of a grade from ‘A’ to ‘D’; ‘F’ carries zero credit. Grades are awarded according to the following system: Letter Grades

Grade Points

Percentage

A

4.0 (Excellent)

93-100

A-

3.7

88-92

B+

3.3

B

3.0

B-

2.7

73-77

C+

2.3

68-72

C

2.0 (Average)

63-67

C-

1.7

58-62

D+

1.3

53-57

D

1.0 (Pass)

50-52

F

0

Below 50

(Very good)

83-87 (Good)

(Fail)

78-82

Format of the Mid Term and Final Examination Students are not allowed to use textbook or lecture notes during mid term and final examinations. That is, close book examinations. It consists of multiple choice questions, short / long questions. Finding solutions, solving simple problems as well as simple proofs may be required.

Cheating in any form will not be tolerated.

Students who cheat on any assignment, or during mid term or final examination will be assigned a failing grade for this course and may result in suspension or expulsion from the university for academic studies.

r==-.i-" "':,;

.~••••~••• " •• " •.••• ~-=.

~~~~

!J !-'

r ~£ ":..)r;.'" a fJ ~ J

.- J

=: ~ ~

-

~"'MI'!~iIiiII""~-';;'

MGMT 110 PRINCIPLES OF BUSINESS MANAGEMENT Course Facilitator: Office: Phone: E-mail: Consultation Hours:

Dr. Xiaoyun (Linda) CHEN L218 83974168 xychen@umac.mo by appointment

Graduate Assistant: Office: Phone: E-mail: Office hour:

Chao (Emma) Ma Block 1, 3rd floor, A30:L .

8397-4556 emmama@umac.mo Monday to Friday, 15:30pm-17:30pm I.

COURSE OBJECTIVES

This is an introductory course regarding the nature and environment of business and its role in the society. It also provides students the basic framework to understand and analyze the challenging world of management in its four different functions - planning, organizing, leading and controlling. The course is designed to enable students to develop a linkage between theory and practice in both business setting and daily life ..

"7

I.

II. COURSE

~-tuY

•

EXT

ND REFERENCI;S

~

Robbins, S.P. and Coulter, M. (2009) Managem..en Oed.,

----

Week 1 2

Chapter 1 + class notes Class notes

Pearson Prentice Hall

III. COURSE OUTLINE

Topic Fundamentals of Business and Management Role of Business in Society and Corporate Social Responsibility 3 3 Business Environment and Organizational Culture 4 6 Managers as Decision Makers 5&6 7 Foundations of Planning WEEK 7: Mar 25 - MID-TERM EXAMINATION - Chapters 1, 3, 6, 7 + class notes 8 Organizational Structure and Design 9 9 &10 13 Understanding Individual Behavior 11 15 Motivating Employees 12 17 Introduction to Controlling Weeks 13 & 14 : Group Presentations FINAL EXAMINATION - Chapters 9,13,15 & 17

IV. ASSESSMENT Class participation Group Project • Video interview (quality of video) • Interview content • Presentation • Report Mid-term examination Final examination

V.

10% 5% 10% 5% 10% 25% 35%

GROUP PROJECT

OBJECTIVES The project's objectives are: to help students understand the relevance of management concepts and its applications on the real life setting; to apply basic management principles in effectively achieving the group's objectives; and to enhance each individual's communication and interpersonal skills. The project contains the following three parts: VIDEO INTERVIEW Students are required to prepare a video interview with a manager from a chosen company. The interview should cover topics related to at least two of the four managerial functions (planning, organizing, leading and controlling) in the company. The interview(s) should be video-taped and edited. The video should last about 15 minutes. The final video version shall be shown in class during the presentation stage of the project.

Each group is expected to conduct at least one face-to-face interview in the organization to demonstrate the managerial functions of that company. Therefore, it is advisable to secure the commitment from the interviewee at the initial stage. It would also be wise for the group to seek the advice of the lecturer regarding the choice of interview questions.

CLASS PRESENTATION Each group has to do a 30-minute presentation of the company they studied in the video interview. The presentation shall include the video show, a discussion on relevant information about the company, and an evaluation of the quality of execution of the managerial functions.

The group may end their presentation with some practical recommendations to the company.

Each group has to submit the power points of the presentation to the instructor before the presentation date.

WRITTEN REPORT Each group has to submit a written report in which they analyze how their group managed themselves in carrying out the whole project. Personal reflections from each member should include learning from the project, difficulties encountered and solutions applied to solve problems.

Recommendations for improvement may also be given. The written report should be WITHIN 10 pages of A4 paper, using Times New Roman Font 12, double-spaced, and with one-inch margin on all sides.

2

PSYB 111: Introduction to Psychology I (3 Credits) Fall Semester 2011 Instructor: Email: Session: Class time: Venue: Pre-requisite: Required Text:

Dr. Arthur Tang tangakh@gmail.com 005; 006 Monday, 10:00 am – 1:00 pm (Section 006); 2:30 pm – 5:30 pm (Section 005) ILG 130 None Psychology and Life, Nineteen Edition, by Richard Gerrig and Philip Zimbardo ISBN: 9780205710911

Description of Course This course is an introduction to psychology as a study of human behavior with special reference to physiological basis of psychology, sensation, perception, learning, cognition, memory, motivation, consciousness, personality and thinking. Emphasis will be on the scientific nature of psychological investigations; and discussion of research methods and the relation of their results to daily life and everyday problems.

Course Objectives The objectives of this course are:  to develop an understanding of the broad area of psychology;  to introduce students to a range of key topics in core areas of psychology;  to be familiar with the methods used by psychologist, and understand how theories and results in psychology are derived and applied; and  to introduce an appreciation of the ways in which behavior may be influenced by biological, individual, environmental and social factors.

Teaching Methodology This course incorporated the Outcome Based Learning approach. It is a student-centered approach for teaching and learning. The course has a list of Intended Learning Outcomes. All Teaching and Learning Activities throughout the course are aimed to help students achieving these Intended Learning Outcomes. Throughout the semester, students will be assessed based on the Assessments aligned to the Intended Learning Outcomes, and the final grade will be determined based on these Assessments. In other words, any student who is able to demonstrate all the Intended Learning Outcome through all the Assessments, she/he will get an excellent grade.

Course Intended Learning Outcomes On successful completion of this course, students will be able to: O1. Understand the broad areas that constitute psychology; O2. Illustrate the growth of knowledge in psychology with reference to some classic studies in perceptual, developmental, cognitive and biological psychology; O3. Demonstrate an awareness of the strengths and weaknesses of different approaches and theoretical perspectives in psychology; O4. Demonstrate an awareness of methodologies employed by psychologists O5. Identify and discuss any potential fallacy and pitfall of psychological claims or applications of psychology research results.

Course Assessments  Midterm Exam and Final Exam (Open book): 40% (20% each)  Homework Assignments: 30%  Case Study: 20%  Toe-Tippers: 10% Midterm and Final Exam: This course will have one midterm exam and one final exam. Both the midterm and the final exam are open book: you can bring any books or notes in the exam. However, no communication devices (computer, PDA, mobile phone, pager, etc) will be allowed in the exam. The Final Exam is NOT cumulative: it only covers materials of the second half of the course.

Homework Assignments: A number of homework assignments (about 2 - 4) will be assigned throughout the course. They will be submitted electronically through UMMoodle. No late assignment will be accepted.

Case Study: There is one case study about an applied issue in psychology. Students will be given a case, and they have to comment and critic on the case using all the knowledge they learnt in this course. The case will be made available on or before the last class, and is due before the start of the final exam (according to the submission time stamp of UMMoodle). The case study will be submitted electronically through UMMoodle. No late submission will be accepted. Late submission will not be graded and a zero grade will be given to the case study.

Toe-tippers: Most class sessions will include in-class assignment(s) referred to as a “toe-tipper”. These assignments will be completed during the lecture period. Some toe-tippers will be group assignments, others will be individual assignments. Notice: toe-tippers are to be done ONLY in class and cannot be made up! If you miss the class, you miss the assignment. The two lowest-score toe-tippers are discarded in the grading process. This is provided to allow for some missing of classes.

Research Participation Requirement The Psychology Department regards exposure to psychological research as a vital educational experience. It is comparable to a laboratory section of introductory courses in other sciences. The Psychology Department requires all students in Introduction to Psychology and Personal and Social Competence to participate in research. More detail about this requirement will be given on the second lecture.

Weighting of Each Assessment to Each Intended Learning Outcomes Intended Learning Outcome Assessments O1 O2 O3 O4 O5 Midterm and Final Exams (40%) 30% 20% 20% 20% 10% Homework Assignments (30%) 20% 25% 30% 15% 10% Case Study (20%) 0% 10% 10% 10% 70% Toe-Tippers (10%) 20% 20% 20% 20% 20% Late Assignment Policy In order to maintain fairness to everyone in the class, exam, assignments and toe-tippers cannot be made up. No late assignments will be accepted. Late assignments will not be graded and a zero grade will be given to the missed exams, case study and assignments. In the case of occasional down time for the UMMoodle server, assignment should be submitted as e-mail attachment, and the email time stamp will be used to determine the submission time. UMMoodle downtime cannot be used as an excuse for late submission.

Attendance You are expected to attend all class sessions. Failure to attend a class may be reflected in your toetipper scores and/or missed assignment. It will be your responsibility to find out what materials were covered, what works were assigned, what handouts were missed, and all class announcement during your absence.

Course Information Update: Handouts, powerpoint presentations, additional assigned readings and updated course information will be available through UMMoodle. A facebook group named “UMAC PSYC101 Spring 2011� will also be used in support of this class.

Expectation The instructor is responsible to design and create a positive learning environment in the course.

However, students are expected to play a MAJOR role in class discussion and offer responsible feedback.

Academic Honesty I have a very high standard in academic honesty. Student cannot supply or use work or answers that are not one's own. Providing and/or accepting assistance in examinations is violation of academic honesty.

You may discuss individual assignments with other students, but the assignment must be entirely your own work. All work turned in must be your own. Plagiarism will not be tolerated at all. Works completed by others used in your assignments should be cited properly. All incident of academic honesty are subjected to disciplinary action through the relevant academic unit.

Disabilities Students with disabilities should contact the Campus Management Office for appropriate accommodations.

Disruptive Behavior The student's behavior in the classroom shall be conducive to the teaching and learning process for all concerned. Students whose conduct adversely affects the learning environment in this classroom may be asked to leave, and are subjected to disciplinary action through the relevant academic unit.

Tentative Class Calendar The course schedule is subject to change with appropriate notice. The course schedule is subject to change with appropriate notice.

Note: Reading assignments are expected to be completed BEFORE the start of the assigned class.

Class 1 29 August 2011 Class 2 5 September 2011 Class 3 12 September 2011 Class 4 19 September 2011 Class 5 26 September 2011 3 October 2011 Class 6 10 October 2011 Class 7 17 October 2011 Class 8 24 October 2011 Class 9 31 October 2011 Class 10 7 November 2011 Class 11 14 November 2011 Class 12 21 November 2011 Class 13 28 November 2011

Topic: Class Orientation and Introduction Reading Assignment: None Topic: Psychology and Life; Research Methods in Psychology Reading Assignment: The Syllabus; Chapter 1 and Chapter 2 Topic: The Biological and Evolutionary Bases of Behavior Reading Assignment: Chapter 3 Topic: Human Development Across the Life Span Reading Assignment: Chapter 10 Topic: Sensation and Perception Reading Assignment: Chapter 4 National Day Holiday: No Class Topic: Learning and Behavior Analysis Reading Assignment: Chapter 6 Topic: Review Reading Assignment: None Midterm Exam Topic: Cognitive Processes Reading Assignment: None Topic: Cognitive Processes Reading Assignment: Chapter 8 Topic: Memory Reading Assignment: Chapter 7 Topic: Psychological Disorder Reading Assignment: Chapter 14 Topic: Social Psychology Reading Assignment: Chapter 16 Topic: Review Reading Assignment: None

University of Macau FACULTY OF BUSINESS ADMINISTRATION

QMDS300: QUANTITATIVE DECISION ANALYSIS Fall Semester 2012/2013 Instructor:

Prof. Lianjie Shu (Office: L415, Tel. No.: 8397-4741, ljshu@umac.mo)

GA:

Amy, Ruoyu Zhou (Office: B1-A203, Tel. No.: 8397-4528, amyzhou@umac.mo)

Lecture Hours:

Section 005 Section 002

Office Hours:

Monday / Thursday: 10:30 – 12:00 or by appointment

Monday/ Thursday 14:30 – 15:50 Monday/ Thursday 16:00 – 17:20

JM17 JM17

Course Objectives: The purpose of this course is to introduce the business student to a number of quantitative methods that have wide application in functional areas. Although the course covers a substantial body of theoretical knowledge, emphasis is placed on the use of such knowledge in making business decisions. Problems and cases drawn from several functional areas are used as a medium for both the analysis and discussion. The computer is used to perform the calculations necessary to solve meaningful and hence, large and complicated problems.

Required Text: Managerial decision modeling, 6th edition, Cliff T., Ragsdale, Thomson Southwest, 2011.

Procedures: Lectures: In general, lectures will follow the course outline and the text. It is assumed that the class will have read the textbook material ahead of time.

This method enables the student to utilize the lectures to clarify difficult material. The easier concepts and material can be mastered by the student alone. (A minimum of 80% attendance is required by university regulation.)

Homework: Practice is essential in learning the material covered in this course, and homework problems are assigned to give you the necessary practice. If you expect to get a good grade, you must do your homework (although you do not need to hand-in). About 30% of the exam problems will be modified from the assignment problems (only numbers will be changed).

Examinations and Grading Scheme: The midterm and final exams are closed book. It is the student’s responsibility to bring a functioning calculator to the exams. The instructor will not provide a replacement calculator in case of a malfunction nor will students be allowed to share calculators during an examination.

1

The final grade will be based on the following scheme: Quiz1 Attendance2 Case study3 Midterm Final Bonus4

16% 4% 10% 30% 40% 10%

1. There will be 8 quizzes in total, each of 2 points. Each quiz consists of some multiple choice questions, which is open book.

2. The mark allocated onto attendance depends on the number of quizzes missed. If you miss two or more quizzes, then there will be no marks allocated for attendance. Otherwise if you attend all the quizzes or only miss the quiz once, you can get four points for attendance in the final evaluation.

3. There will be two case studies in the course. You may work on the case studies in a team of three or less students. You may form the team on your own, but all members are expected to belong to the same session. If you have problems with finding team members, I will help assign you a group. Because you will work in teams for case studies, no late submissions are permitted, and you need to solve by yourself any time conflicts within your team. The graded case studies will be returned to you within 14 days of the due date.

4. In order to stimulate your interest in studying this course, there will be one bonus question in both the midterm and final exams.

Course Outline: Topics Introduction to Modeling and Decision Analysis Introduction to Optimization and Linear Programming Modeling and Solving LP Problems in Spreadsheets Sensitivity Analysis Network Modeling Integer Linear Programming Global Programming and Multiple Objective Optimization Discriminant Analysis Time Series Forecasting Introduction to Simulation (optional)

Estimated Classes 1

Chapter 1

2

2

3+2 (lab)

3

2+2 (lab) 3 3+1 (lab) 2-3

4 5 6 7

2 3 1

10 11 12

2

1

English Language Centre UNIVERSITY OF MACAU Fall Semester 2010 Course Code & Title

EELC1311132;EDEN31O/311 English III: Academic English 1 & 2 MarkH. Wong

Instructor

Classroom

EELC 132-008:WLG 111 EELC 132-009:ILG 123

EELC132-008

Section

Meeting days/time

EELC132-009

EELC 132-008: TIF, 0830-1000.

EECL 132-009:MlTH, 0830-1000

Office & office hours

ILG109E; MonlThu: 11:30-13'00,1430-16.00;or by appointment

Contact information

MarkWong@umac.mo;8397-8129

Prerequisites: assessments

EELC1211122; EDEN292/293; or release from EELC 1211122 based on admission

Course Description EELC 1311132 is a two-semester course. These classes build upon interaction and study skills/strategies taught at previous levels while focusing on improved use of English for academic purposes. An effort will be made to conduct needs analyses and work with learners to identify individual language learning needs and the types of language tasks expected in their academic work. When possible, content- or theme-based approaches will be used to link English language improvement to other coursework.

Language teaching and learning will focus on cognitive-academic language proficiency while continuing to improve informal and formal use of English by students.

Intended Learning Outcomes Upon completion of this course, students should be able to

• apply critical thinking and research skills to

-

[/.1:

7

17 t 18

err

io .

R.e~tth 1~J: ~kt' to [; conduct Internet research and evaluate Web-based information; fu .

1W1~ synthesize information and compose academic papers of approxi~IY 500 words using APA style (quoting, paraphrasing, summarizing, citing sources, and creating reference lists); recognize common logical fallacies in everyday reasoning; and analyze, justify, and evaluate arguments.

•

use the steps of the writing process to - analyze readers' needs and expectations; - generate and focus ideas for short essay topics; - draft ideas and revise them using reader responses; - select rhetorical modes given an essay's subject, purpose, context, and audience; and - edit and proofread for clarity, conciseness, coherence, and correctness.

•

employ reading and listening skills to - identify patterns of organization used in written texts; - differentiate between fact and opinion; and recognize implied meanings in authentic texts.

k/.'

7' ([,v

f

2 •employ speaking skills to discuss current local and world issues; use strategies to persuade an audience to act; and make brief presentations on a variety of topics.

Reference Texts and Materials • VanderMey, R., Meyer, V., Van Rys, J., & Sebranek, P. (2009). The college writer brief A guide to thinking, writing, and researching (3rd ed.). Boston: Wadsworth Cengage Learning. ISBN-13: 978-0-495-80342-3 • Lunsford, A. A. (2009). Easy writer: A pocket reference (3rd ed.).Boston: BedfordiSt. Martin's.

ISBN-13: 978-0-312-59459-6 • Authentic video and audio texts.

Pedagogical Methods • Critical thinking and analysis • Peer review • Quizzes and essay assessments • Student presentations • Group discussions

• • • •

Teacher-student conferencing Teacher-led presentations Independent study / E-learning Projects

Assessment •

Problem and Solution Essay

.- --

--

_..

-:

-::c-- -

-

One multi-draft essay will be assigned. 'Multi-draft' means that you will have at least two chances to revise and improve upon your essay before the final draft is submitted. Please note that each draft will count for a grade, so you must submit eachdraft on time. In addition to completing your writing assignments, you are expected to give constructive feedback/suggestions to your classmates to help them improve their writing. For this particular essay, your instructor will give you a choice of several problems which may be relevant to your own which you can conduct some research. You will then devise and suggest reasonable and effective solutions.

•

Podcast - Problem and Solution Follow Up In pairs or a small group, you will choose a topic from one of your essays and educate a certain audience about the problem and propose one or more solutions. You will need to look carefully at the essay, its main points and relevant examples and decide how it will be communicated most effectively in your podcast.

•

Quizzes Three quizzes, some of which will be online, will be given over the course of the semester covering various topics or readings discussed in class.

3 •

Persuasive Project The "Persuasive Project" is a project where students, in groups of 3, will make a video public service announcement (or commercial) where they try to persuade the audience to do something.

The video should clearly integrate multiple persuasive strategies as explained in Chapter 17 while avoiding logical fallacies. In addition, each group will be asked to make a presentation in front of class where they play their public service announcement and then explain which persuasive strategies they used, and why.

•

Independent Learning Component Your instructors will familiarize you with some tools by which you can practice, reflect upon, and record the English you learn outside of the classroom. Reading resources, online English websites, English language learning software available in the language laboratory may be introduced.

•

Active participation through Student Activity Record (SAR).

Points are assigned by me according to the following system: 1 point for each question asked in English - 2 points for conducting each small group discussion in English For each class meeting, you will be eligible to earn a maximum of 15 points. You should also note any additional positive or negative participation points before the end of class and tally your points in the appropriate box. You should enter your assignment scores in the corresponding boxes as you receive them so you know your academic standing in the course. I will distribute your Student Activity Record to you .at the beginning of each class and collect it from you at the end of class. At the end of the semester, the person with the highest n mber of points will receive full credit for participation. Everyone else will receive a percentage based on the highest score.

t Academic

Integrity Plagiarism is another word for academic dishonesty and is a form of theft. All of the writing and the ideas in your papers and Reader's Responses rnust either be your own or must be attributed to their sources. Any attempt to pass off the work of someone else as your own will result in a ZERO for that assignment. You are required to submit all final drafts through the plagiarism detection software Turnitin. In addition, papers written for this course may not be used for other courses or vice versa. For more information on what plagiarism means, please see pages 476 - 479 of The College Writer Brief

4 Weighting Documented Problem and Solution Essay* Persuasive Project Quizzes (x3) Podcast Coursework (homework, class assignments etc.)

Active Participation I Independent Learning Component

20% 25%" 10% 10% 15% 15%./ 05% J:

TOTAL 100% * All late assignment submissions will incur a 20% deduction for every 24 hours they are late. ~

-

University Grading Scale: Grades are awarded according to the following system: Letter Grades A AB+ -B BC+ C CD+ D F

Grade Points 4.0 (Excellent) 3.7 (Very Good) 3.3 3.&{GoodJ 2.7 2.3 2.0 (Average) 1.7 1.3 1.0 (Pass) o (Fail)

Percentage 93-100 88-92 83-87 7-8--8273-77 68.;72 63-67 58-62 53-57 50-52 Below 50

Scale 19-20 18 17 16 15 14 13 12 11 10 Below 10

CREW The Consulting Center for Research and English Writing (CREW) serves as the University'S writing center and offers a number of services that you may find helpful during your writing process. In addition to coming to me for help, you can go to CREW to get feedback on the papers you are working on. CREW offers a number of study- and writing-skills workshops that can help you succeed academically. For more information about the workshops offered, please go to CREW's homepage: http://www.umac.mo/e1c/crew/crew.html.

Inclement Weather Policy Unless Tropical Warning Signal No.8 (or above) is hoisted, classes will be held. Please check the Ma

University of Macau Faculty of Business Administration January 2012 BECO309: Intermediate Macroeconomics Instructor:

Dr. Qiao Zhuo

Office: Tel: Email:

L216 (853) 8397-4166 zhuoqiao@umac.mo

Office Hours:

Monday & Thursday 10:00-11:30am or set by appointment

Course Overview Macroeconomics forms an essential background for any business decision making. The objective of the course is to enable students to analyze the current macroeconomic issues and events to help them in making decisions. This course is an extension of Principles of Macroeconomics (BECO101). The course will develop a basic theoretical framework to enable systematic evaluation of various macroeconomic indicators, phenomena and policies.

Specifically, the course studies the determinants of the level of national income/output, employment, investment, the business cycle, the supply and demand of money, interest rates, inflation, exchange rates and financial crises. Compared with Principles of Macroeconomics, more mathematical analyses will be used in this course.

Prerequisite Introductory knowledge of economics is essential for a good understanding of the material presented in this course.

Main Textbook Olivier Blanchard, Macroeconomics, 5th edition, Prentice Hall, 2011.

Evaluation: Class Participation

10%

2 Assignments

15%

1

1 Mid-term Test 1 Comprehensive Final Exam

25% 50%

Course Outline The following is a tentative list of topics for this course.

1. Introduction Chapters 1 and 2 Macro Variables and Measurement 2. The Short Run Chapter 3 The Goods Market Chapter 4 Financial Markets Chapter 5 Goods and Financial Markets: The IS-LM Model 3. The Medium Run Chapter 6 The Labor Market Chapter 7 Putting All Markets Together: The AD-AS Model Chapter 8

The Natural Rate of Unemployment and the Phillips Curve

Chapter 9

Inflation, Activity, and Nominal Money Growth

4. The Open Economy Chapter 18 Openness in Goods and Financial Markets Chapter 19 The Goods Market in an Open Economy Chapter 20 Output, the Interest Rate, and the Exchange Rate Chapter 21 Exchange Rate Regimes

Notes: 1. This course outline is tentative. Any major change will be announced in the class or on the course website.

2. All teaching materials are available in the e-learning platform-UMMoodle.

3. The date of the midterm exam and what it will cover will be announced in the class.

4. Late submission of assignments will not be accepted.

2

University of Macau Faculty of Business Administration FINC211: Advanced Financial Management Class 1 Second Semester of 2011/2012 (updated on April 20, 2012)

Class Meetings Time: Friday 16:00pm -- 19:00pm Classroom: JG06 Instructor Name: Feng Wu, Ph.D., CFA Office: L422 Office hours: Thu. 15:00 -18:00pm or by appointment Email: fengwu@umac.mo Course Description FINC211 (Advanced Financial Management) continues the discussions of basic and important theories, principles, and techniques in financial management at firm level. This course aims at helping students obtain in-depth understanding of fundamental concepts and tools in information comprehension and problem solving in business practices. It focuses on corporate operation related issues and risk management through derivatives. The topics include ways of corporate financing and financial mix, payout policy, long-term and short-term financial planning, as well as working capital management. In addition, this class also intends to enable students to get familiar with working knowledge of corporate control, popular financial derivatives, foreign exchange and risk management.

Learning Objectives After completing this course, students should be able to: have a general appreciation of a broad range of topics in corporate finance understand financial vocabulary that appears in finance media think like a financial manager or a financial economist apply basic models and financial management procedures in real world scenarios get prepared for more advanced courses if they want to learn more about finance Textbook (required) Fundamentals of Corporate Finance, 7th edition, R.A. Brealey, S.C. Myers, and A.J. Marcus (McGraw-Hill International Edition, 2012)

1

More Learning Sources Instructor’s presentation slides and other course materials can be downloaded from UMMOODLE. More information about the textbook and supplementary study materials are available at www.mhhe.com/bmm7e.

Financial Calculator (recommended) Texas Instruments BA II Plus or HP 10bII Grading 22 total 38 total 40 total 100 points

Class participation and homework Two midterm exams One comprehensive final exam Total

Note: 1, Class participation: Lectures and discussions in class are the most important components of this course. Attending all classes will make the learning process more efficient.

2, Homework (HW): Three problem sets will be distributed as HW. HW will be collected on the date due (refer to the class schedule below). HW solutions are posted at UMMOODLE right after the due days. Therefore, no late HW will be accepted.

Instructions for HW will be given in class.

3, Exams: There are two midterm exams and one cumulative final exam. The midterm exams will be given according to the class schedule (see below), and the final exam will be scheduled according to Faculty of Business Administration. (Financial) calculator should be used in the exams. No make-up exam will be made unless under very unusual circumstances. To request make-up exam, student(s) must provide the original copy of a doctor’s written statement and must make arrangement well before the scheduled exam.

4, Final grade scheme: The final letter grade will be awarded according to the following: A: [93,100]; A-: [88,92]; B+: [83,87]; B: [78,82]; B-: [73,77]; C+: [68,72]; C: [63,67]; C-:[58,62]; D+: [53,57]; D:[50,52]; F: [0, 49]. If necessary, a curving scheme will be applied.

Other Policies Dropping the class: Please consult with FBA General Office.

Academic dishonesty: Any instance of academic dishonesty may result in a grade of “F” and/or further disciplinary sanctions imposed by the college or the university.

2

Class Schedule1 Class

Date

Topic

Chapter

1

Jan.6

Introduction, Corporate Financing

14

2

Jan.13

IPOs and Seasoned Offerings, Debt Policy I

15, 16

3

Feb.3

Debt Policy II, Payout Policy

16, 17

4

Feb.10

Long-term Financial Planning

18

5

Feb. 15

Midterm Exam I (17:00-18:30 at J406)

6

Feb.23

Special session at UM Cultural Center starting from 10:00am

7

Mar.2

Midterm Exam I Review, Short-term Financial Planning I

19

8

Mar.9

Short-term Financial Planning II, Working Capital Management I

19, 20

9

Mar.16

Working Capital Management II, M&A, Corp. Control

20, 21

10

Mar.23

Foreign Exchange

22

11

Mar.30

Midterm Exam II (19:00-20:30 at L108)

12

Apr.13

Midterm Exam II Review, Options I

23

13

Apr.20

Options II, Risk Management, and Review

23, 24

Note

HW1 due2

HW2 due3 HW3 due4

Final Exam (comprehensive)

Note: 1, Other adjustments to the schedule or HW, should they be necessary, will be announced in class.

2, HW1 is due on Feb. 13, 2012 (Monday). Please turn in HW1 to our Teaching Assistant’s office (Block I-Room A308) before 5:00pm.

3, HW2 is due on Mar. 28, 2012 (Wednesday). Please turn in HW2 to our Teaching Assistant’s office (Block I-Room A308) before 5:00pm.

4, HW3 is due on Apr. 27, 2012 (Friday). Please turn in HW3 to our Teaching Assistant’s office (Block I-Room A308) before 5:00pm.

5, Our Teaching Assistant’s office hours: Tuesday 13:00-15:00pm. Email: olivialan@umac.mo

3

FACULTY OF BUSINESS ADMINISTRATION EBIS 100 - INTRODUCTION TO COMPUTING COURSE OUTLINE FIRST SEMESTER (2010/2011)

Lecturer

OFFICE

Dr. Simon Wu

L312

Dr. Tony Sam

TEL

E-MAIL

SESSION

WEB SITE

8397-4718 simonwu@umac.mo 001-002 Ummoodle.umac.mo

Block 2, A408 8397-8550 tonysam@umac.mo

003-004 Ummoodle.umac.mo

Dr. Jimmy Lee Block 2, A404 8397-8548 jimmylee@umac.mo 005-006 Ummoodle.umac.mo Prof. Patrick Lee

L323

8397-4187

cblee@umac.mo

007

Ummoodle.umac.mo

Lecture Time & Venue Section 005: Monday & Thursday, 11:30a.m. – 12:50p.m., ILG129 Section 006: Tuesday & Friday, 11:30a.m. – 12:50p.m., JG16

Graduate Assistant To be announced later.

Course Objective The aim of this course is to provide students with fundamental knowledge of computers including the related technologies and programming techniques. Upon completion of this course, students are expected to master the followings: components of the system unit; various input, output and storage devices; word processing and spreadsheet applications; the skills of solving problems logically and the development of basic programs.

Required Textbook Listed below is the required textbook for this course. It is compulsory and will be used for the whole semester. You are strongly recommended to Buy Your Own Book! Photocopying of textbooks is highly restricted in classroom.

1.

Shelly, G.B., Cashman, T.J. and Vermaat, M.E., “Discovering Computers: Living in a Digital World”, Fundamentals, 2011 Edition. Cengage Learning (including a Web-based learning tool for MS Office 2007)

Note: When you buy the textbook, you will have an online account to access the Web-based learning tool for MS Office 2007. The additional 8 US dollars will be charged.

P. 1/4

Assessment Class participation Computer labs (exercises) with Excel Two Assignment(s) - 1 out-class group project (9%) and - 1 in-class group work (6%) Mid-term exam (close-book exam) Final exam (close-book exam) Total:

5% 15% 15%

25% 40% 100%

Important Note 

Late assignments are subject to a deduction of 20% per day and no assignments will be accepted 3 days after the due date.



Please review our examination regulations from your “Student Handbook 2010/2011” before you sit for the exams.

Plagiarism Unless otherwise stated, all work submitted by you must be YOUR OWN WORK. Copying of work, (whether from another student, from a book, an article or a web site, etc) will be considered as cheating. If you have doubts in this issue, please consult your instructor for details. If similar contents are found but without quotation, all students involved will receive a score of ZERO for their work. In addition, all kinds of cheating found during the exam will result in a failure grade for the whole course.

Attendance A student who is absent for more than 20% of the total scheduled lecture time will NOT be allowed to take the final examination if no application of leave is submitted to the course instructor. He/She will receive a failure grade for the course. If this is a compulsory course for that student, he/she will have to re-take the course.

Computer Lab Session There are around 4 compulsory computer labs integrated in this course. Please consult your lecturer for details of the dates and venue for your computer labs. All the computer labs will be scheduled at the same time as your lecture session. That means you have to go to a computer room to have your class with the help of a computer during some of lecture dates.

P. 2/4

Course Outline Week

Date

Contents Course Introduction

1

2

3

Aug. 30 – Sept. 4

Sept. 6 – 11

Sept. 13 – 18

Chapter 1: Introduction to Computers  What is a computer?  The components of a computer (P. 159-160, 162-167 in Chapter 4) Chapter 1: Introduction to Computers (Contd.)  Storage: Flash memory, cloud storage, optical discs and other types of storage (P.247 – 259 in Chapter 6)  Advantages and disadvantages of computers  Computer Software  Categories of computers  Examples of computer usage

Chapter 2: The Internet and World Wide Web  The Internet  The World Wide Web Chapter 2: The Internet and World Wide Web (Contd.)  Other Internet Services

Sept. 20 – 25

4 (Holiday: Sep. 23)

5

Sept. 27 – Oct. 2 (Holiday: Oct. 1)

6

Oct. 4 - 9

7

Oct. 11 – 16

Chapter 3: Application Software  Application software  Business software Chapter 3: Application Software (Contd.)  Graphics and multimedia software  Software for home, personal, and educational use  Web applications  Application software for communications  Learning tools for application software Supplementary materials  Microsoft Excel Application Supplementary materials Microsoft Excel Application



P. 3/4

Week

8

Date

Oct. 18 – 23

Contents Chapter 11: Programming Languages and Program Development (Starting from P.435 – 445, P.450 -- 453)  Computer programs and programming languages  Low-level languages  Procedural languages  Other programming languages and program development tool  Program development cycle

Oct. 25 – 30

9

Midterm Exam Date: Oct. 27 (Wednesday, 5:00 – 6:30p.m.

Chapter 1 – 3)



Flowchart

10

Nov. 1 – 6 (Holiday: Nov. 2)



PowerPoint presentation on Group Project

11

Nov. 8 – 13



Flowchart

12

Nov. 15 – 20



Flowchart

13

Nov. 22 – 27



Examples in C Program

14

Nov. 29 – Dec. 4



Revision

P. 4/4

UNIVERSITY OF MACAU FACULTY OF BUSINESS ADMINISTRATION 1st Semester 2010/11 BECO100 Section : 001

Principles of Microeconomics (Mon/Thur

11:30 – 12:50 WLG102)

Instructor: Vanessa Si-tou Office: PLG417 E-mail: vsitou@umac.mo (Please do not send mail to UMMoodle) Course Webpage: http://UMMoodle.umac.mo Tel. : 8397-8877 Course Description: This course is divided into 3 parts. Students will firstly be introduced to the demand and supply concepts, demand and supply elasticity, and the applications of demand and supply. The second part will examine consumer behavior and producer supply decisions. The final part will discuss producers’ decision under four different kinds of market structure.

Textbook: Case, K E and R C Fair, Principles of Economics, 9th ed., Prentice Hall, 2010.

References: 1. http://www.prenhall.com/casefair/ 2. Samuelson, P. A. and William D. N., Economics, McGraw-Hill 3. Miller, R.L., Economics Today, Addison Wesley 4. Stiglitz, Joseph E. and Walsh, Carl E., Principles of Microconomics, W.W. Norton & Company, Inc..

Evaluation: Participation & Assignment Quiz Mid-term Exam Final Exam

15% 15% 25% 45%

Assignment: Assignments should be submitted on time. No late assignments will be accepted for any reason. Our past experience has indicated that copying assignments among students is extremely severe. Students are encouraged to discuss their assignments in groups, but the assignment itself must be done by the student himself or herself. The copying of assignments will not be tolerated anymore and will lead to the student obtaining an F grade for the course.

Examinations and Quiz: There will be one mid-term examination and one final examination. All the exams and quiz are closed book written exams or quiz. A student who is absent from the exam or quiz due to ill health must submit an effective medical proof issued by government hospital or Keng Wu hospital, otherwise he/she will receive a grade of F in that exam.

1

The students should be well informed that during the exams or quiz, no dictionary (electronic or paper) is allowed in the venue. If the student has any queries concerning the exam questions, the instructor is available for consultation. As to calculators, only non-programmable calculators are allowed.

Cheating is a serious offense and those who are caught in doing that or assist someone else in doing it will be immediately given an F grade to the course in addition to any reprimands or punishments according to university regulations.

Attendance It is important for you to attend all classes and arrive on time. Please note that Item I 2c of the general regulations governing bachelor’s degree programs (revised and approved by Senate on May 18, 2005) states the following: “A student who is absent without applying for leave of absence from a course for more than 20% of its scheduled teaching periods in the aggregate will not be allowed to take the final examination and will receive a failing grade for that course. If the course in question is a compulsory course, a student must retake it.”

Course Syllabus: Topics

Readings (Case&Fair)

INTRODUCTION TO ECONOMICS Introduction Thinking Like An Economist Demand, Supply and Market Equilibrium Elasticity of Demand and Supply BASIC CONCEPTS OF MICROECONOMICS Consumer Choice Production Process: Behavior of Firms MID-TERM EXAM Costs in Short-run and Long Run MARKET STRUCTURE Perfect Competition Monopoly Monopolistic Competition and Oligopoly

1,2 3 4,5 6 7 8,9 8,9 13 14

2

.\

/ University of Macau Faculty of Business Administration BEC0302 Chinese Economy Spring 2012 Time: 16:00pm - 18:50pm Tuesday INSTRUCTOR Assignment Grader: Office: Phone: Email: Web:

Office Hours:

Jia Yuan (:~3) Emily L212 83974162 j iayuan@umac.mo UMMoodle IO:OOam - 12:00pm Monday, or Appointment

Textbook The main textbook is The China Miracle: Development Strategy and Economic Reform

by Lin, Cai and Li, Chinese University Press, 2003

Course Description The course mainly focuses on China's economic development after 1949, with emphasis on the economy reforms after 1978. In particular, some important issues regarding China's transition from a planned economy to a market economy, especially the reform strategies, the evaluations of the reforms and the current development challenges faced

by China, will be discussed. Students are encouraged to participate in the class discussion, raise interesting economic questions, and provide convincing answers.

Course Objectives I. To provide background information on the recent development process of China.

2. To apply economic theory to explain major economic phenomena and policy changes during the development process.

3. To summarize empirical evidence that can help judge the relevance of the theoretical explanations.

*The policy and schedule make adjustment.

are tentative

and might change.

I reserve the right to

Course requirements Quiz (2-3 Quizzes, %12): The quizzes will be announced at least one week before.

It will cover what has been done up to that point and what was covered in the homework assigned previously. NO MAKEUP QUIZ. Paper

project

(%30):

Term Paper

(%20) and Class Presentation

(%10)

1. By individual 2.

3.

4.

5.

Pick Each Each Each

an interesting Chinese economy topic and become an expert in it. person presents his/her paper in the class for 5-10 minutes. person submits the ~ntation slides. person submits one term ~sting Of~g~

Final (Cumulative, %50): Final exam will involve all the material covered in lectures, quizzes and winning paper projects.

Class Participation

(%8):.

2 points penalty if one class is missed

Student I.

Responsibilities

Academic Dishonesty: You are encouraged to work with others in understanding the concepts and problems. All sources of information and references used including a classmate (except for the textbook, lecture and recitation notes) must be cited. If the academic dishonesty occurs on a final or midterm, a grade of Fail will be used.

II. Student Conduct: Students are expected to contribute to a calm, productive and learning environment.

Important

I

Essay Project

I

Dec I

I

Dates

Essay Due

2

r The course content: Topics Introduction The Economv and Reform Before 1978 The Economic Reform After 1978 China's Economic Reform Decomposing the growth of China Technology Physical capital Human capital

WTO Accession Sustainability of the growth of China Energy Environment Demographics

The Health Care Reform in China

Essay Topics The following is a list of the potential topics that you can choose as the main subject of the term paper. You can also write on a topic of your own choice subject to the instructor's approval.

l'j China's

health care reform 2)China's politics system and economic reform 3) Social Security Reform in China ''4~ •.

The Structure, Development, and Reform of China's Rural area 5) Regional Income Inequality in China ~hina's education and economic development O-lThe Development of the Western China ~~hina and global Financial Crises 9) Development of China's green energy industry "1,Ol Chinese Industry Sector after joining the WTO (e.g., auto, telecom, and medicine) li-)~hinese Agriculture Sector after joining WTO "'I~ Chinese currency appreciation ~hina's Trade disputes with other countries ~"Can China afford free health care?

15) China's fiscal policy and China economic development 16) China infrastructure construction and China economic development 17) Is China economy mainly investment driven?

18) China capital market development

3

Criteria for evaluating papers Items Introduction and Thesis

2 points First paragraph is catchy.

Thesis is evident and point to be argued well stated.

1 points First paragraph has a weak "grabber". Thesis is mixed among many sentences and hard to piece together.

Organization

well The essay IS very organized. One idea or scene follows another in a logical sequence with clear transitions.

Strong evidence to support the thesis and the reader is persuaded to fully accept the thesis.

The essay is pretty well organized.

One idea may seem out of place. Clear transitions are used.

Evidence

Mechanics

~ Coordii1ation Creativity (bonus)

The essay has few, if any, spelling, punctuation, capitalization, grammar, or usage errors.

All 'pre paper assignments are in .time and well submitted den&.

Thesis is very original with many of your own thoughts.

o point was A catchy beginning attempted but was confusing rather than catchy. Thesis is not entirely apparent although topic is evident.

The essay is hard to follow.

Paragraphs are unclear. The transitions are sometimes not clear.

Most of evidence is related to the essay. The essay may wander off at one point and a reader IS not convinced enough.

The essay has two to five mechanics errors.

Little attempt has been made to relate the essay to the assigned topic.

Most of pre paper assignments are submitted in time and \Nell done.

Thesis is not very original but has some of your own thoughts and analysis.

None or only one pre paper assignment IS submitted in time or 'Nell done.

Thesis IS traditional and popular.

4

The essay has more than five mechanics errors.

FINC428 – REAL ESTATE INVESTMENT AND FINANCING FBA, UNIVERSITY OF MACAU, FIRST SEMESTER 2013-2014 Section 001: Monday and Thursday, 11:30 to 12:50, Room JM13 Instructor : Mr. Chui Man Wai (Peter) Office : PLG 415 Phone : 8397-8875 E-mail : petermwc@umac.mo Office Hours : 14:30 to 17:00 on Tuesday or by appointment

PREREQUISITE: FINC 211, Advanced Financial Management OBJECTIVES This course is aimed at enhancing knowledge on real estate investment and financing.

Topics on real estate investments include investment and risk analysis, income property valuation and alternative real estate investment vehicles, such as mortgage-backed securities. Topics on real estate finance include an introduction of secondary mortgage markets, residential mortgage analysis (including Mortgage Pricing, Underwriting, Prepayments and Refinancing) and different types of home mortgage tools. It will briefly review Macao real estate markets and some interesting up-to-date issues that are concerned with real estate markets across the globe.

LEARNING OUTCOMES



Understand alternative types of mortgage loans and evaluate the current mortgage market conditions in Hong Kong and Macau



Employ different valuation methods to estimate the market value of residential properties and ground-floor shops.



Understand the relationship between financial markets and real estate markets and learn how exogenous factors affect real estate prices, construction activities and total housing supplies.



Explain how securitization of residential mortgage satisfies varying investor demands and how mortgage related securities are valued.



Analyze and evaluate an investment opportunity in real estate markets.

REQUIRED TEXT Bruggeman, W. B. and Fisher, J. D., Real Estate Finance and Investment, McGraw-Hill, 14th edition, 2011.

FINANCIAL CALCULATOR The instructor will be using Texas Instrument BA II Plus in class.

It is highly recommended to purchase a financial calculator which has the following functions: IRR, NPV, FV, PV, I, N, PMT, CASH FLOW and amortization functions.

GRADES: Course grades will be determined as follows: Items Homework In-class Quiz Group Project Mid-term Exam Final Exam

Weight (%) 20 10 20 25 25

Homework (20%) There will be three to four homework covering materials such as end-of-chapter questions and case analysis. Some will be done on an individual basis and the other will be done on group basis. Their submission dates will be informed in class.

In-class Quiz (10%) One or two quizzes will be given in class in order to keep track of students’ learning progress.

Group Project (20%) Students are required to form into group consisting of three to five students, depending on the class size. Please note that those who fail to form a group with other classmates should inform the instructor as soon as possible.

The project will be evaluated in terms of 1. readability (20%), 2. content and report structure (40%), 3. presentation skills and presentation preparation (20%) and 4. new ideas or new analysis shown in the report (20%).

Each group is expected to submit a project in the length of 3,000 to 4,000 words. The group project is designed to help students become familiar with real estate markets and apply the financial theory and skills in making good investment decisions. The project weights 20 percent of the overall grade.

Mid-term Exam (25%) and Final Exam (25%) They comprise essay questions and problem-solving questions. Mid-term exam is tentatively scheduled on 18th November and final exam will be held in the official final examination period.

CLASSROOM GUIDELINES



Attendance - Any students who miss classes 20% or more will not be allowed to take the final exam and will automatically fail the course.



Conversations/chatting during the class will distract to the instructor and to other classmates and will definitely not be tolerated. The use of cell phone in class is NOT allowed.



Relevant materials (e.g. handout and calculator) are to be brought to class every lecture. Please check instructor’s UMMoodle account regularly in order to obtain the latest information about assignments, handouts, class notes and news.

TENTATIVE SCHEDULE Date Topic Part One: Introduction Sept. 16 Course Overview Sept. 19 Real Estate Markets and Capital Markets Sept. 23 Time Value of Money Review & Financial Calculator Review (Text, Ch.3) Sept. 26 Notes and Mortgage (Ch.2) Part Two: Financing Residential Properties Sept 30 Fixed Rate Mortgages (Ch. 4) Oct. 3 Adjustable Rate Mortgages (Ch. 5) Oct. 7 Adjustable Rate Mortgages (Ch. 5) Oct. 10 Residential Financial Analysis (Ch. 6) Oct. 14 PUBLIC HOLIDAY Oct. 17 Group Project Discussion Oct. 21 Renting versus Owning (Ch. 7) Part Three: Investment Analysis and Financing of Income Properties Oct. 24 Underwriting and Financing Residential Properties (Ch. 8) Oct. 28 Valuation of Income Properties (Ch. 10) Oct. 31 Valuation of Income Properties (Ch. 10) Nov. 4 PUBLIC HOLIDAY Nov. 7 Investment Analysis (Ch.11) Nov. 11 Investment Analysis (Ch.11) Nov. 14 Financial Leverage (Ch. 12) Nov. 18 Mid-term Exam Nov. 21 Financial Leverage (Ch. 12) Part Five: Alternative Real Estate Financing and Investment Vehicles Nov. 25 Disposition Decision (Ch.14) Nov. 28 Disposition Decision (Ch. 14) Dec. 2 Secondary Mortgage Markets – Pass Through Securities (Ch. 19) Dec. 5 Secondary Mortgage Markets - CMOs (Ch. 20) Dec. 9 PUBLIC HOLIDAY Dec. 12 Secondary Mortgage Markets - CMOs (Ch. 20) Dec. 16 Project Presentation Dec. 19 Project Presentation Please note that the class schedule is subject to revision, depending upon the progress of the class throughout the semester.

UNIVERSITY OF MACAU FACULTY OF BUSINESS ADMINISTRATION SECOND SEMESTER 2013/2014 Course: Instructor: Office: Tel: E-mail:

FINC344 Portfolio Management Dr. Charlie Jun (preferred to be called “Dr. Jun”) PLG412 83978872 CharlieJun@umac.mo

Course Description This course focuses on the design and management of investment portfolios that meet the targeted investor’s objectives. Application of capital market theories including efficient market hypothesis, behavioral finance theories would be discussed. The goal is to develop practical investment management skills such as portfolio performance evaluation, security analysis and writing investment policy statements.

Course Objectives  To understand the linkage between the capital market theories and investment strategies.  To construct portfolio using appropriate combinations of financial instruments to achieve objectives for different parties.  To apply the capital market theories and investment strategies in creating investment policy statement.  To establish a solid background of finance for future finance courses and exams (i.e. CFA).

Textbook: Bodie, Kane, and Marcus, “Investments”, 9th edition, McGraw-Hill, 2013 (heavily used in class) Textbook’s website for students - By clicking on the Student Edition link, you have free access to chapter by chapter online study resources, including multiple quizzes, and excel spreadsheet templates that appear in the textbook. http://highered.mcgraw-hill.com/sites/0071262288/student_view0/ Reference There is a bunch of information about what you will learn through the course, especially in online. Any relevant information will be welcomed to improve your understanding of the course. Here is a few among many.

Kahn Academy https://www.khanacademy.org/economics-finance-domain/core-finance Economics and Finance courses in Cousera https://www.coursera.org/courses?orderby=upcoming&lngs=en&cats=economics “Introduction to Computational Finance and Financial Econometrics” by Eric Zivot (https://class.coursera.org/compfinance-002/class) if you are more interested in quantitative aspects of portfolio management.

Operation aspects and policies of the course What students expect to do in the class:  Read the relevant part of textbook before class  Actively participate discussion in class and through online Q&A forum  Your involvement of group works will be peer-reviewed by group members at the end of the semester and your score of the group work will be affected.  Any late submission of assignments will face the deduction of the score of the assignments.  Although power point files are provided, your understanding is greatly undermined if you miss classes. It “pays” to come to class for three reasons. o Some lecture material is not from your textbook. o Elaborations of concepts will be discussed in class. o It “save” you time to attend the lecture because you can follow and understand the textbook better and know where the main points are.

Classroom Etiquette: Be a considerate gentleman or lady. Respect your instructor, your fellow students, and yourself.  Come to class and return from the break on time.  If you have to leave the class early, please inform the instructor before the class begins. Then sit near the exit and leave quietly.  While the class is in session, o do not engage in gossiping or whispering because this will distract the instructor and disturb fellow students sitting near you; o turn off your cellular phone; o do not eat (drink is allowed);

Assessments Grading scale Grade A+ A

Percentage 95% & above (5%) 90% to < 95% (5%)

Grade C+ C

Percentage 65% to < 70% (5%) 55% to < 65% (10%)

B+ B B-

85% to < 90% (5%) 75% to < 85% (10%) 70% to < 75% (5%)

CD F

50% to < 55% (5%) 40% to < 50% (10%) below 40%

Assessment Scheme: Participation Tutorial questions (Group assignment) Trading Game report/presentation (Group assignment) Weekly Quizzes/Homework Midterm exam (Nov 16th) Final Exam (TBA) Total

10% 5% 20% 15% 20% 30% 100%

Participation: Class participation credits will be given if you can present your answer satisfactorily, ask good questions, and share your views in class and online Q&A forum. Note that your learning attitude will also be considered in granting class participation credit.

This includes whether you are attentive, behave responsibly (e.g. do not disturb others), and come to class frequently.

Tutorial questions (Group work): Tutorial questions, chosen from problem sets of each chapter, will be announced before lecture of each chapter is finished. Each group should turn its work in the class website before/on the due date. For the detail format, refer to the sample of a turn-in assignment in the class Moodle website. Tutorial questions will be the main resource of quizzes, midterm and final exam. Any late submission until cutoff date will be punished. Any submission after the cutoff date will get zero point.   

Due date: 23:55pm of every Wednesday Cutoff date: 23:55pm of Sunday coming after the due date. (Week number will be designated according to the class pace) Format: MS word file (Questions should be typed and your hand-written answers are inserted in the file as a form of picture format.)

Weekly Quizzes/Homework: There will be the unknown number of in-class quizzes/HWs given throughout the semester (You had better expect it in most of classes). These quizzes/HWs will be on the material that we covered and will cover. Student must be present at the time the quiz is administered to the class. Students who miss a quiz cannot make it up, and will receive a zero on the quiz. In order to consider students’ absence with valid reasons, I allowed students to drop their low quiz/HW scores in determining their average. For example, if there are 10 quizzes/HWs given during the semester, the quiz/HW average may be calculated using only the first X highest scores (the number X will be determined at the end of the semester with solely my discretion). The detail description of the quiz/HW will be specified throughout announcement in the regular class hours.

Trading Game report/presentation (Group work) Each student of a group (the same group of tutorial question assignment) is required to open a trading account in a designated website and involve. Each group submits its trading game report on/before due date (announced later) and presents the summary of its report in class. One account of each group will be guided by me for its portfolio management. The detail will be described during class.

Semester Teaching Plan Tentative Outline Syllabus Portfolio Theory and Practice Risk and Return Capital Allocation

Chapters Ch5 Ch6

Optimal Investment Portfolio Index model Theories of Equilibrium Return Capital Asset Pricing Model Arbitrage Pricing and Multi-factor Models Market Efficiency and Anomalies Applied Portfolio Management Portfolio Performance Evaluation Active Portfolio Management Investment Policy and CFA ethics Other topics (if time allows) Equity Valuation Models

ď&#x201A;ˇ

Week # Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10 Week 11 Week 12 Week 13

Date Sep 21st Sep 28th Oct 5th Oct 12th Oct 19th Oct 26th Nov 2nd Nov 9th Nov 16th Nov 23th Nov 30th Dec 7th Dec 14th

Week 14

Dec 21st

Ch7 Ch8 Ch9 Ch10 Ch11 Ch24 Ch27 Ch28 & CFA ethics Ch18

Make-up class No class

Midterm exam

Trading game presentation Trading game presentation Due date for Trading report

I reserve the right to make any modification appropriate for the administration and evaluation of the class.

Unit outline EFB312 International Finance Credit Points:

12

Prerequisite(s): EFB210 Corequisite(s): Nil Antirequisite(s):EFB212, IBB202, EFB240 Equivalent(s): Other Requisite(s): Assumed Knowledge:

EFX312 Nil Nil

Date:

Semester 1 2013

Coordinator:

Dr John Chen

Phone:

3138 2658

Fax:

3138 1500

Email:

e.chen@qut.edu.au

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of the teaching period.

Rationale The rationale of this unit is to introduce you to the international aspects of financial management and economics.

Aim The aims of this unit are to:  Introduce you to the international financial and economic environment, including the international banking and monetary systems, the spot market, the forward market, the currency futures market, the currency options market and the currency swap markets.  Introduce you to the fundamental relationships in the determination of exchange rates.  Develop and extend the financial management and economics knowledge acquired in earlier units to an international setting.  Introduce you to foreign exchange risk, country risk, the financing of foreign trade, and related policy questions of national significance.

Learning Outcomes Course Learning Goals (Undergraduate) The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT -

aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment: Have knowledge and skills pertinent to a particular discipline (KS) 1.1 Integrate and apply disciplinary theory and skills to practical situations 1.2 Incorporate the use of technology appropriate to the discipline and context Be critical thinkers and effective problem solvers (CTA) 2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue Be professional communicators in an intercultural context (PC) 3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences 3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences Be able to work effectively in a Team Environment (TW) 4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output Have a Social and Ethical Understanding (SEU) 5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding Unit Objectives Upon completion of this unit, students will be able to: 1. Identify arbitrage opportunities in the currency markets.

2. Forecast future exchange rate movements.

3. Analyse and quantify foreign exchange risk.

4. Evaluate the return on international investments.

The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.

Content Students will learn the history of exchange rate regimes and markets, practical skills to calculate and understand current and expected foreign exchange rates, the workings of currency derivatives, the effect of changing exchange rates on firm value, the benefits of international investing, international investment risks, why companies expand internationally and where they get their funding from, and brief

introductions to international working capital management and corporate governance. This knowledge will be useful to students in both their personal and professional lives.

Approaches to teaching and learning Each session will consist of approximately two hours of lecture and one hour of tutorials/workshop. The lecture will focus on providing you with core theoretical and conceptual frameworks that are essential in the analysis of international financial issues. The tutorials/workshops will provide you with the opportunity to solve certain practical as well as theoretical questions which will test your understanding of the theories and concepts discussed during the lecture. The tutorials/workshops will also provide you with the opportunity to analyse cases that illustrate the application of international finance theories to the real world.

Resources such as copies of overheads for each lecture topic, tutorial questions and solutions, and assignment details are provided on the unit's Blackboard site.

Assessment Feedback Students will receive feedback in various forms throughout the semester which may include:  Informal: worked examples, such as verbal feedback in class, personal consultation  Formal: in writing, such as checklists (e.g. criteria sheets), written commentary  Direct: to individual students, either in written form or in consultation  Indirect: to the whole class Assessment Item No. 1 Assessment name: Mid-Semester Examination Description: The test covers lectures, tutorials and readings from Weeks 1 to 5 inclusive. Multiple-choice questions may be both qualitative and quantitative.

Length/Duration: 1 hour (plus 15 minutes perusal time) Formative or Summative: Summative and Formative Relates to learning outcomes: Unit objectives: 1, 2 and AOL goals: KS (1.1) Weight: 40% Internal or external: Internal Group or Individual: Individual Due date: Week 7 Assessment Item No. 2 Assessment name: End of Semester Examination Description: The test covers lectures, tutorials and readings from Weeks 1 to 13 inclusive. Short answer questions may be both qualitative and quantitative.

Length/Duration: 2 hours (plus 15 minutes perusal time)

Formative or Summative: Summative Relates to learning outcomes: Unit objectives: 1, 2, 3, 4 and AOL goals: KS (1.1), CTA (2.1), PC (3.1) Weight: 60% Internal or external: Internal Group or Individual: Individual Due date: Central Exam Period

Academic Integrity QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource Materials Prescribed Text Eiteman, D.K., Daly K., Rath S., Stonehill, A.I., and Moffett, M.N. (2011) Multinational Business Finance 2E, Pearson Australian Edition However, if you already have any of the following textbooks they cover similar material and you may not need to purchase the prescribed textbook above: Eiteman, D.K., Stonehill, A.I., and Moffett, M.N. (2008) Multinational Business Finance, Pearson International Edition Madura, J., (2010) International Financial Management 10th edition, South-Western Shapiro, A., (2005) Foundations of Multinational Financial Management 5th edition, Wiley Shapiro, A., (2006) Multinational Financial Management 8th edition, Wiley References The following are useful references including textbooks, journals and websites.

Additional references can also be found at the unit's Blackboard site: Solomon, J., (2007) Corporate Governance & Accountability 2nd edition, Wiley Husted, S., and Melvin M., (2006) International Economics 7th edition, Pearson Moosa, I.M., (2004) International Finance: An Analytical Approach, 2nd edition, Irwin/McGraw-Hill Other Readings - Periodicals

Students are encouraged to consult periodicals/journals such as Euromoney, Asiamoney and Finance, The Economist, IMF International Capital Markets, IMF Occasional Paper Series, Bank of International Settlements' Annual Reports, Business Review Weekly, Australian Business Monthly, Far Eastern Economic Review, Journal of International Business, Journal of Finance, among others.

Risk Assessment Statement There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.

Last Modified: 21-MAY-2012

Â

Unit outline EFB337 Game Theory and Applications

Credit Points: 12 Prerequisite(s): EFB331 or EFB211 Corequisite(s): Nil Antirequisite(s):Nil Equivalent(s): Nil Other Nil Requisite(s): Assumed Nil Knowledge: Date: Semester 1 2013 Coordinator: Dr Radhika Lahiri Phone: 3138 2753 Fax: 3138 1500 Email: r.lahiri@qut.edu.au

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of the teaching period.

Rationale This unit is one of the optional or elective units in the Economics Major. It is intended to deepen students' understanding of an important branch of economics by developing their understanding of the key theoretical foundations of game theory and its applications.

Aim The aim of this unit is to provide a solid grounding in the foundations of game theory and the economics of information, as well as a grasp of how these theoretical principles can be used to model economic behaviour in business and public sectors.

Learning Outcomes Course Learning Goals (Undergraduate) The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards.

Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and

sustainable business environment: Have knowledge and skills pertinent to a particular discipline (KS) 1.1 Integrate and apply disciplinary theory and skills to practical situations 1.2 Incorporate the use of technology appropriate to the discipline and context Be critical thinkers and effective problem solvers (CTA) 2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue Be professional communicators in an intercultural context (PC) 3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences 3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences Be able to work effectively in a Team Environment (TW) 4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output Have a Social and Ethical Understanding (SEU) 5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding Unit Objectives Upon completion of this unit, you should: 1. Acquire knowledge and critical thinking skills 2. Develop the ability to work in groups 3. Develop the ability to apply game-theoretic concepts to economic problems not previously encountered, consequently enhancing generic capabilities.

The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.

Content This unit addresses the theoretical foundations of game theory and the economics of information, focussing on how individuals and firms deal with uncertainty and situations involving strategic interactions. The theoretical concepts are illustrated with applications from both the private and public sector.

Contents include:  game theory and its economic applications  the economics of uncertainty and information  asymmetric information and mechanism design  auctions  bargaining  markets and competition Approaches to teaching and learning One two-hour lecture is provided each week . The lecture program involves the presentation of theoretical and empirical material by the lecturer, with opportunity for questions from students.

In addition, there are interactive components in the lecture program whereby students take part in "class experiments" workshops, and discussions, which will help illustrate and understand some of theoretical concepts studied in this unit. A one-hour tutorial is provided, in which problem-solving applications of the theory are discussed.

Assessment Feedback Students will receive feedback in various forms throughout the semester which may include:  Informal: worked examples, such as verbal feedback in class, personal consultation  Formal: in writing, such as checklists (e.g. criteria sheets), written commentary  Direct: to individual students, either in written form or in consultation  Indirect: to the whole class Assessment Item No. 1 Assessment name: Assignments

Description: Involves problem solving or discussion oriented questions, with an option to do a case-study in lieu of one of the problem-solving assignments.

Length/Duration: Approximately 6-7 problem solving questions Formative or Summative: Formative and Summative Relates to learning outcomes: Unit objectives: 1, 2, 3 and AOL goals: KS (1.1), CTA (2.1), PC (3.1), SEU (5.1) Weight: 40% Internal or external: Internal Group or Individual: Individual Due date: Weeks 7 and 12 Assessment Item No. 2 Assessment name: Final Exam Description: Problem-solving/short-answer/essay-type questions based on material covered in the unit.

Length/Duration: 2 hours + 10 minutes perusal Formative or Summative: Summative Relates to learning outcomes: Unit objectives: 1, 2 and AOL goals: KS (1.1), CTA (2.1), PC (3.1), SEU (5.1) Weight: 60% Internal or external: Internal Group or Individual: Individual Due date: Central Exam Period

Academic Integrity QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource Materials Resource materials include both printed and electronic resources of all types.

Prescribed Texts Dixit and Skeath and Reiley (2009) Games of Strategy, Norton

Schotter, Andrew (2007) Microeconomics: A Modern Approach, Pearson Education Additional Resources The following are useful references, including textbooks, journals and websites: Binmore, Ken, (2007) Playing for Real: A Text on Game Theory, Oxford University Press Kreps, D, (1990) Game Theory and Economic Modelling, Oxford University Press Osborne, M., and A. Rubinstein, (1993) A Course in Game Theory, MIT Press Osborne, M, (2004) An Introduction to Game Theory, Oxford University Press Varian (1999) Intermediate Microeconomics: A Modern Approach, 5th Edition, Norton Other Resources The Blackboard site for this unit contains links to many additional resources that are pertinent to this unit, including supplementary lecture material.

Risk Assessment Statement There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.

Last Modified: 21-MAY-2012

Â

1

University of Macau

Ref.: fixinc-macau.f13

FACULTY OF BUSINESS ADMINISTRATION Undergraduate Program

Fall term '13 Session & year

DEPARTMENT OF FINANCE Instructor: Professor John-Peter D. CHATEAU Finc427 42 hours Course number

FIXED INCOME SECURITIES Course title

Undergraduate Program Level

Practical information: Professor's office: Luso Chinese Building, office 370A; and telephone extension: -4178 Email address: jpchateau@umac.mo Office hours: Mondays and Thursdays from 4:30 p.m. to 6:00 p.m., or by appointment.

Weekly time schedule: Saturdays, 14:30 A.M. to 17:30 P.M. Classroom: J216 Access MOODLE from the University's menu: The course material is loaded each week.

1. COURSE OBJECTIVES In this course, students will be exposed to the theory and practice of fixed income securities and markets. Its main learning goal is thus business knowledge and conception based on quantitative reasoning, analytical thinking, and problem solving skills. The following topics will be addressed: Bond prices, discount factor and arbitrage; spot, forward and par rates and yield-to-maturity; curve fitting and one-factor measures of price sensitivity based on parallel yield shifts; the science of term structure models; short-rate process and the shape of the term structure; the art of term structure models: drift, volatility and distribution; the Gauss+ and Libor market models; bond pricing according to Vasicek, CIR, and the extended Hull and White model; Black-Scholes interest rate options and selected securities such as Eurodollar, Fed funds futures and interest rate swaps.

The course objective is twofold: on the one hand, its goal is to first present classical or under-certainty concepts of bonds, and next introduce the term structure of interest rates (Tsir) and the notion that bonds are options on the Tsir, and finally bond options

2 as compound options on the Tsir. A standardized reference framework is used for each concept of fixed income finance: examination of market and institutional data, model formulation, its analytical specification and solution and, finally, numerical computation and applications. There is also a second and more practical facet to the course: to expose students to bond trading strategies, current bond management practices and real-world fixed income markets. Numerous examples and short cases will be used to raise students' awareness of the problems faced by bond managers and fixed-income analysts in today's rapidly evolving financial service industry.

2. LEARNING OUTCOMES This course being OUTPUT DRIVEN, students should be able to successfully: compute the discount factor, spot, forward and par rates, as well as yield to maturity. S/he should also be able to construct the term structure of several rates, determine bond price sensitivity and estimate the duration and convexity of various bonds. Students should also be able to calculate the price of zero-coupon and coupon bonds using binomial trees as well as the closed-form solutions of Vasicek, CIR and Hull-White, and hedge bond positions. Finally, s/he should be able to value swaps and interest-rate options such as Treasury note or bond futures and Eurodollar futures.

2. COURSE ORGANISATION Classes will consist of ex cathedra lectures on the theoretical and analytical aspects of the material. Students are expected to read the assigned chapters of the course text before the corresponding meeting (it’s your responsibility to buy or have electronic access to the course text). Many problems from Tuckman’s 2nd edition will be solved in class. This undergraduate course comprises three parts: the first one covers weeks 1 to 6, the second one, weeks 7 to 12, and the third one, week 13.

Students in groups of five to six are required to submit three assignments at set deadlines.

Pr. Chateau will structure the groups in the second week. In week 7, the 2-hour mid-term open-book examination covers problems similar to the ones solved up to week six. A 3-hour final examination takes place at the end of the course covering the material of the whole course.

The following pedagogical material will be made available on MOODLE: (i) (ii) (iii)

Pr. Chateau’s PowerPoint notes, Scanning of some figures and tables with my pedagogical comments, solutions to all problems solved in-class as well as additional material, and The three group assignments.

3. PREREQUISITES In accordance with the procedures in force for undergraduate programs in the Faculty of Business Administration at the University of Macau.

4. COURSE OUTLINE This tentative course outline may change over the course of the fall semester. LAST

3 UPDATE: SEPTEMBER 12, 2013 Weeks (approx.)

SCHEDULE OF TOPICS, ASSIGNMENTS AND EXAMINATIONS

Part I: Classical bond pricing (under certainty) w1

3 hrs

w2-w3

4.5 hrs

w3-w4

4.5 hrs

w5

3 hrs

Introduction and bond prices, discount factors, and arbitrage Ref: Tuckman-Serrat (hereafter TS), chapter 1.

Spot, forward, and par rates Ref.: TS, chapter 2.

Returns, spreads, and yield Ref.: TS, chapter 3.

Generalizations and curve fitting Ref.: Tuckman, chapter 4, Munk chapter 2.

Some exercises

Assignment #1 is due at session 5 (October 19) w6

3 hrs

w7

2 hrs

One-factor risk metrics and hedges Ref.: TS, chapter 4.

Correction of assignment #1

Open-book mid-term examination on Saturday xxxx, 2013: 2 HRS IN xxx Hall Part II: Term structure models and bond prices

w7

3 hrs

w8

3 hrs

Review of binomial trees: Hull 12’s OFOD, chap. 12 The science of term structure models Ref.: TS, chapter 7 Methodology: Preliminaries on Wiener processes and Ito’s lemma Ref.: Hull 12’s OFOD, chapter 13 The Black-Scholes-Merton model Ref.: Hull 12 OFOD, chapter 14

Assignment #2 due at session 8 (November 16) w9

3 hrs

w10

3 hrs

w11

3 hrs

w12w13

4.5 hrs

The evolution of short-rates and the shape of the term structure TS, chapter 8 Correction of assignment #2 The art of term structure models: Drift Ref.: TS, chapter 9 The art of term structure models: Volatility and distribution Ref.: TS, chapter 10 The Vasicek and CIR models: Examples and problems Ref.: Hull 12’s OFOD, sections 30.1 to 30.5 of chapter 30 The Gauss+ and LIBOR market models Ref.: TS, chapter 11

Assignment #3 due is at session 12 (December 14) Part III: Bond option prices and selected securities w13-

4.5 hrs

Interest rate derivatives: The standard market models

4 w14

Hull 12's OFOD, chapter 28 Correction of assignment #3

Open-book final examination xxxx, 2013, in xxx starting at xxx.

5. EVALUATION Performance in the course is evaluated as follows: 1. Three group assignments 2. Mid-term examination 3. Final Examination

30% 30% 40%

Examinations are open-book with PowerPoint slides and notes.

* Youâ&#x20AC;&#x2122;ll automatically fail the course if your attendance rate is less than 80%. * No make-up exams will be given under any circumstances. * I reserve the right to make any changes appropriate for the administration and evaluation of the class.

6. BIBLIOGRAPHY Student should come to class with their copy of the course text: Bruce TUCKMAN and Angel SERRAT, 2012, Fixed Income Securities, 3rd edition, John Wiley & Sons. University of Macau library reference: HG4650 Tuc 2012.One copy of the 2nd edition is on RESERVE and one copy of the 3rd edition is available in the student textbook collection.

In addition, review of some chapters from HULL, J., 2011, Fundamentals of Futures and Options Markets, 7th ed, Prentice-Hall, University of Macau library reference: HG6024 A3 Hull 2011. Copies are available in the stud textbook collection. or HULL, J., 2012, Options, Futures, and Other Derivative Securities, 8th ed., PrenticeHall. University of Macau library reference: HG6024 A3 Hull 2012. Copies are available in the student textbook collection.

A review of the statistical concepts and regression analysis relevant to fixing income securities is to be found, among others, in appendix A of BODIE, Z., A. KANE and A.J. MARCUS, 2011, Investments, 9th ed., Boston: Irwin/McGraw Hill. University of Macau library reference: HG 4521 Bod 2011. Copies are available in the student textbook collection.

Other recommended references: BODIE, Z., A. KANE and A.J. MARCUS, 2011, Investments, 9th ed., Boston:

5 Irwin/McGraw- Hill. University of Macau library reference: HG4521 Bod 2011.

FABOZZI, F.J., 2010, Bond Markets, Analysis and Strategies, 7th ed., Prentice Hall.

University of Macau library reference: HG4651 Fab 2010.

FABOZZI, F.J., 2005, The Handbook of Fixed Income Securities, 7th ed. McGraw Hill.

University of Macau library reference: HG4651 .H265 2005eb.

JARROW, R., 2002, Modelling Fixed Income Securities and Interest Rate Options, 2nd ed., Stanford University Press.

HULL, J., 2011, Fundamentals of Futures and Options Markets, 7th ed., Pearson/ PrenticeHall, University of Macau library reference: HG6024 A3 Hull 2011.

HULL, J., 2012, Options, Futures, and Other Derivative Securities, 8th ed., Pearson/Prentice-Hall. University of Macau library reference: HG6024 A3 Hull 2012.

LA GRANVILLE, O., 2001, Bond Pricing and Portfolio Analysis, MIT Press. University of Macau library reference: HG4651 La. NAWALKA, S.K., SOTO, G.M., N.K. BELIEVA, 2007, Dynamic Term Structure Modeling: The Fixed Income Valuation Course, Wiley.

MUNK, C., 2011, Fixed Income Modelling, Oxford. University of Macau library reference: HG4650 Mun 2011.

PENNACCHI, G., 2008, Theory of Asset Pricing, Addison Wesley. University of Macau library reference: HG4636 Pen 2008.

REBONATO, R., 1998, Interest-Rate Option Models, 2nd ed., Wiley.

REBONATO, R., 2009, The SABR/LIBOR Market Model: Pricing, Calibration and Hedging for Complex Interest-Rate derivatives, Wiley. University of Macau library reference: HG6024 A3 Reb 2009.

STIGUM, M., CRESCENZI, A., 2007, Stigumâ&#x20AC;&#x2122;s Money Market, 4th ed., McGraw-Hill.

University of Macau library reference: HG226 Sti 2007.

SUNDARESAN, S.M., 2009, Fixed Income Securities and their Derivatives, 3rd ed., Academic Press. University of Macau library reference: HG4650 .S86 2009eb.

TUCKMAN, B., 2002, Fixed Income Securities, 2rd edition, John Wiley & Sons. University of Macau library reference: HG4650 Tuc 2002. ON RESERVE. VERONESI, P., 2010, Fixed Income Securities: Valuation, Risk, and Risk Management, Wiley. University of Macau library reference: HG4650 Ver 2010.

WISE, M., 2010, Fixed Income Finance: A Quantitative Approach, Mcgraw-Hill.

University of Macau library reference: HG4650 Wis 2010.

----------------------------------------------

FINC342 Financial Research Methods (2013/14- 1) Instructor: Dr. Xiaolin Qian (Audrey) Office: L423 Ext. 4750 E-mail: Xiaolinqian@umac.mo Office Hour: Monday 1:00 pm-4:00 pm Subject Description This course provides students with an understanding of issues involved in the design and conduct of empirical research in finance (including the application of statistical and econometric techniques) by examination of recent seminal published work in selected areas of the finance discipline. In doing so, it aims to help students develop a critical perspective on the development of the academic finance discipline and its contribution to the practice of finance. The course involves learning-by-doing as students are expected to replicate empirical research papers using real data (from CSMAR database) and the software SAS. Pre-requisite: Econometrics and Statistics (BECO200 Econometrics I and FINC213 Statistics for Finance) Course Materials Reference book: (Not compulsory) “The Little SAS Book” (4th Edition) by Lora D. Delwiche and Susan J. Slaughter Research Paper: Fama, Eugene F. and Kenneth R. French, 1992, “The cross-section of Expected Stock Returns,” Journal of Finance, 47, 427-465.

Course Organization 1.5 Hours Lecture + 1.5 Hours Tutorial (Lab) Course Assessments Components

Marks

SAS Exercise and Homework

20

Term Project (Report) Term Project (Presentation) Paper Discussion (Questions) Participation and Discussion Attendance Total

50 10 5 10 5 100 1

Individual/Group Individual Group and Individual Group and Individual Group Group & Individual Individual

Schedule Week 1-4 Learn and work with SAS and CSMAR Reading Week: Read the research paper “The cross-section of Expected Stock Returns” (Fama and French, 1992).

Week 5 Discuss with your group-mates and list your questions.

Week 6 (21 Oct) Discuss and Answer Questions Week 7-13 Term Project: Replicate Fama & French (1992) using CSMAR data Week 10 Meeting for mid-project report (informal) Week 14 (16 Dec) Group presentation (15 minutes for each group)

Paper Reading and Discussion Each student should read the paper line-by-line and page-to-page. You should figure out the following questions; (1) research question, (2) main finding, (3) contribution – uniqueness of the study, and/or differences from previous studies, (4) research design and methodology, and (5) robustness, limitation, drawback, remedies, etc.

Each group should submit a list of questions (your own questions, confusion, and any issues) and send me this list (by Email: umfbafinc342@gmail.com) on or before Oct 18. Please include your group number and names of the group member in this list. I will upload all lists of questions to UMMoodle. We will discuss all questions together in-class (Week 6). You are welcomed to answer those questions and your participations will be marked.

Term Project Each group will work on a term project by replicating the paper with data from CSMAR. You are required to replicate at least Table 1-4 and recommended to finish all 6 Tables. You are also encouraged to do extra tests on your own design.

The report on the replication project should consists of the following information 1.

Brief introduction to what your paper is trying to do (Sample firms and time period of data in your study) 2.

Description of the methodology and data you used in your paper 3.

Empirical results that you found 4.

Summary of those results 5.

Extension of the study Regarding the extension part, you should try to extend the analysis of the paper by performing some extra analysis with the existing data. You may also suggest some extensions but you cannot carry out the analysis due to the data or methodology limitation. The report should be 2

in single column and double space. The main body of the report (including tables and references) should not exceed 15 pages. However, you can use as many pages as you need in the appendix. The report should be submitted via Email in PDF on or before 15 Dec. Whatever excuses will be given, the late submission will result in a deducted mark.

Attendance Every student should attend all meetings. Attendance will be recorded. Students get 5 points (full mark of attendance) if they miss no class, 4 if they miss 1 class, 3 if they miss 2 classes.

If a student misses 3 classes (20% of the total number of meetings) or more, she/he will automatically fail on this course.

Group Forming Self-grouping; 4 students in each group Students in the same group will be evaluated backed on the entire group’s work. However, individual’s performance is subject to the peer evaluation.

3

Peer Evaluation Form This Peer Evaluation Form is aimed to ensure the equally contribution between group members and evaluate the effort of each student efficiently. If you believe everyone contributed equally in the term project, you can fill “100%” in the column of Contribution for everyone. If you think someone is underperformed, please estimate his/her contribution relative to the others. The maximum you can fill in the column is 100%. Student will get his/her mark=group mark*average of his/her contribution from the peer evaluations.

Students can use the peer evaluation form and submit it in hard copy on the days of presentation. Please fill in the form individually and sign on the bottom of it. If you do not submit or properly sign the form, your evaluation on group members will be regarded as all equally 100%.

Group: Your Name: .

Names of Group Members (Including Yourself)

Contribution (0‐100%)

Signature: .

4

University of Macau Faculty of Business Administration FINC343 – Financial Markets and Institutions Autumn / 2012

Instructor: Dr. Susan Ren (任錦娟) Office: L322; Phone: 8397- 4185; e-mail: JinjuanRen@umac.mo Office hours: 15:00 – 17:00 / Tuesday, or by appointment Section 001 002

Time 08:30 - 11:20 / Friday 08:30 - 11:20 / Tuesday

Room J322 RLG304

Course outline: Recent financial crises have highlighted the importance of financial markets and institutions in the global economy. In this course, we study how financial markets and financial institutions work. Key topics include the money market, the bond market, the stock market, the foreign exchange market and the management and regulation of financial institutions.

Required reading:  

Lecture Notes (LN) Textbook: Financial markets & Institutions, by Frederic S. Mishkin and Stanley G. Eakins, 7th edition, Pearson.

A webcourse (i.e., UMMOODLE) has been set up for this course and you can download all the Powerpoint slides to be presented in classes and other course materials from the website.

Grading policies: Item Case presentation Quizzes Final examination Total

15 * twice 10 * twice

Weight (%) 30 20 50 100

You should attend all classes on time. Any student missing 20% or more of the classes for whatever reasons (which means three or more times of absence) will NOT be allowed to sit the final exam, thus failing the course automatically.

There will be two case presentations, two quizzes, and one final examination. The case presentations are worth 30% of your final grade. Please form groups of five persons each.

Each group will present twice and all members within the same group get the same marks for the case presentations. The two quizzes last for 20 minutes each and totally contribute 20% to 1

your final grade. The final examination will last for 3 hours and contribute the remaining 50% of your final grade. In the examinations, you will be required to answer multiple-choice questions and numerical/essay questions.

Important: There will be NO make-up for the quizzes or examinations, unless your absence is justified by an accident or illness and you can provide me with a certification from a medical doctor. Please arrange your schedule properly.

You may bring a calculator to the examinations. NO formula sheets and NO dictionary. NO PDA, digital dictionary or calculator which provides text-storage function.

Course schedule: Week

Topic

Chapters

1

Revision & introduction

1&2

2

Interest rates

3&4

3

Money market & Bond market

11 & 12

4

Quiz 1& Stock market

13 & 6

5

Mortgage market & Foreign exchange market 14 & 15

6

Monetary policies & Banking industry

10 & 19

7

Mutual fund & Pension fund industry

20 & 21

8

Quiz 2 & CFA ethics

9

Case presentation

10

Case presentation

11

Case presentation

12

Case presentation

13

Behavioral finance Final examination

2

UNIVERSITY OF MACAU FACULTY OF BUSINESS ADMINISTRATION FIRST SEMESTER 2012/2013 Course: Instructor: Office: E-mail:

Finc421 - Case Studies in Corporate Finance Dr. Adrian Lei L212/83974162 adrianl@umac.mo

Reference Textbook Robert F. Bruner, Case Studies in Finance, 6th Edition, McGraw-Hill Course Description This is a case-method course in Corporate Finance. Students will learn to make investment and financing decisions in the financial manager perspective, and produce project analysis by combining finance concepts and analytical skills.

Course Objectives By the end of the course, students should be well-equipped in applying basic tools of corporate finance (Net present value calculations, cost of capital estimations, methods of evaluating investments and financing choices available to the firm, and others) to solve real world cases and able to stage important project presentation to management of a company.

Area of Cases 1. Bond and Stock Valuation 2. Financial Statement Analysis 3. Financial Planning and Forecasting 4. Corporate Valuation 5. Capital Budgeting Decisions 6. Capital Structure Decisions 7. Derivatives and Risk Managements 8. Corporate Default Risk 9. Corporate Governance Prerequisites Successful completion of Financial Management I & II or equivalent courses. In addition, discussions, readings and case studies presume a good working knowledge of statistics and solid foundation in accounting and finance.

Assessment: Case Reports Participation (Attendance + Discussion) Take-home exam (Individual Case Study)

35 35 30

*I reserve the right to make any modification appropriate for the administration and evaluation of the class.

Class Schedule Week 1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th 12th

Aug 29 Sep 5 Sep 12 Sep 19 Sep 26 Oct 10 Oct 24 Oct 31 Nov 7 Nov 14 Nov 21 Nov 28

Topics Introduction Form group, Financial Statement Analysis Introductory Case (Warrant Buffet) Financial Forecasting and Planning (Body Shop) Financial Forecasting and Planning Progress Consultation Cost of Capital (Boeing 7E7) Capital Budgeting (Diamond Chemicals) Progress Consultation Currency Risk Management (Carrefour) Real Options (Kimberly-Clark)/ Individual take-home case study Review and Collection of take-home case study

University of Macau Faculty of Business Administration FINC341 – Theory of Finance Fall 2012/13 Instructor: Prof. Lewis Tam (譚漢強) Office: PLG410; Phone: 8397-8870; e-mail: lewistam@umac.mo Office hours: 15:00 – 17:00 on Tuesday; 10:30 – 12:30 on Friday Lecture time and venue: Session 001: 8:30 – 11:20 (Tuesday) at RLG204; Session 002: 14:30 – 17:20 (Friday) at JG14 Course outline This course provides an in-depth analysis of modern finance theory and serves as a building block for all the upper-level finance courses. Topics include equilibrium models of asset pricing, the efficient market hypothesis (EMH), option pricing, and accounting and financial markets.

Learning objectives By the end of the course, students should be able to understand: i) basic usage of various financial databases; ii) the driving forces of expected stock returns (or cost of equity); iii) market efficiency and their implications to investors; iv) foundations of option pricing; v) corporate governance.

Grading policies Your course grade will be determined by your performance in class participation (5%), group homework assignments (20%), mid-term examination (30%) and final examination (45%).

Group homework assignments. By September 7, you should have formed a group of 3 to 4 students and submitted to me your group list for the group homework assignments.

Mid-term and final examinations. The mid-term examination and the final examination will last for 2-3 hours each. You will be required to answer 4 to 5 numerical/essay questions. You may bring along with you a calculator and a paper dictionary to the examinations. Important: There will be NO make-up for the examinations, unless your absence is caused by an accident or illness and you can provide me with a certification from a medical doctor. Please arrange your schedule properly.

Reference books: 1. Copeland, T.E., Weston, J.F., and Shastri, K. (CWS), Financial Theory and Corporate Policy, 4th edition, Pearson.

2. Brealey, R.A., Myers, S.C., and Marcus, A.J. (BMM), Fundamentals of Corporate Finance, 6th edition, McGraw Hill.

3. Welch, I., 2005, A First Course in Finance, unpublished version.

Wharton Research Data Services (WRDS) WRDS is a web-based business data research service from The Wharton School at the University of Pennsylvania. Developed in 1993 to support faculty research at Wharton, the service has evolved to become a common tool for research for over 290 institutions around the world.

WRDS is the de facto standard for business data, providing researchers worldwide with instant access to financial, economic, and marketing data though a uniform, web-based interface. This hosted data service has become the locus for quantitative data research and is recognized by the academic and financial research community around the world as the leading business intelligence tool.

To access data from the WRDS, visit the following webpage: http://wrds-web.wharton.upenn.edu/wrds/index.cfm?true and enter the user name and password (to be distributed in class).

The GTA RSC System The GTA RSC system provides instant access to data on China’s economy and financial markets. Users can conveniently browse and download data, academic material, information, news, software and much more at any time and anywhere.

The Data sector provides data based on the existing CSMAR database series, offering search, download and data customization services. The data has extensive ranges with a simple and standard format, covering economics, company information, the stock market, the fund market, the bond market, the futures market, the foreign exchange market, the gold market, the real estate market, the Hong Kong market, the overseas markets, etc.

To access GTA’s data, visit the following webpage: http://hk.gtarsc.com/en. The data can be accessed within the campus network only or through the VPN. Class Schedule 1.

Sess. 001

Sess. 002

Aug 28

Aug 31

Topic Review of Mathematical Concepts Calculation of expected value and standard deviation  Statistics for portfolios  Matrix operation 

Background readings on portfolio mathematics:  Book chapter on matrix algebra

2.

Sess. 001

Sess. 002

Topic

Sept 4

Sept 7

Introduction to Finance and Economics Laboratory  Bloomberg terminals  The WRDS platform  The CSMAR platform

Sept 11, 18, 25

Sept 14, 21, 28

Capital Market Theory Efficient frontier and definition of market portfolio  The Capital-Asset-Pricing Model (CAPM) - its assumptions and limitations  The Fama-French three-factor model 

Book chapters (one of the followings only): (CWS) Chapter 5 “Objects of choices: Mean-variance portfolio theory” and chapter 6 “Market equilibrium: CAPM and APT”;  (Welch) Chapter 14 “The Principle of Diversification”, chapter 15 “The Efficient Frontier: Optimally Diversified Portfolios”, and chapter 17 “The CAPM: The Theory and Its Limits” 

Articles: Perold, A.F., 2004, “The Capital Asset Pricing Model”, Journal of Economic Perspectives, 18, 3-24;  Fama, E.F., and French, K.R., 2004, “The Capital Asset Pricing Model: Theory and Evidence”, Journal of Economic Perspectives, 18, 25-46. 

3.

Oct 9, 16, 30

Oct 5 (or 12), 19, 26

Efficiency Market Hypothesis (EMH): Theory and Evidence Forms of EMH and their implications to decision makers  Empirical tests on market efficiency  Behavioral finance 

Book chapters: (Welch) Chapter 18 “Efficient Markets, Classical Finance, and Behavioral Finance”



Articles: Malkiel, B.G., 2003, “The Efficient Market Hypothesis and Its Critics”, Journal of Economic Perspectives, 17, 59-82.  Barberis, N., and Thaler, R., 2003, “A Survey of Behavioral Finance”, in Chapter 18 of Handbook of the Economics of Finance, edited by G.M. Constantinides, M. Harris and R. Stulz, 1051-1073. 

Oct 16

Oct 19

Oct 24 4.

Nov 6, 13

Review for the Mid-term Examination Mid-term Examination

Nov 9, 16

Option Pricing Understanding options  Valuation of options – binomial approach 

Book chapters:  (BMM) Chapter 23 “Options”  (CWS) Chapter 7 “Pricing Contingent Claims: Option Pricing Theory and Evidence”, 199-222.

5.

Sess. 001

Sess. 002

Nov 20, 27

Nov 23, 30

Topic Corporate governance Agency problems  Corporate governance mechanisms 

Required readings: (Welch) Chapter 28 “Corporate Governance”.



Nov 27 To be announced

Nov 30

Review for the Final Examination Final Examination