722Syllabusjp - OHIO STATE UNIVERSITY Fisher College of...

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OHIO STATE UNIVERSITY Fisher College of Business Finance 722: Investments Winter 2008 Prof. John Persons E-mail: [email protected] Telephone: 614–292–4318 Fax: 614–292–2418 Office: 846 Fisher Hall Office hours: Wednesdays, 1:30–4:30, or by appointment. Course Topics and Goals This course considers the analysis and management of investment portfolios. The main focus of the course is equity investments (stocks), but we will also learn some of the fundamentals of fixed income investments (bonds) and derivatives (futures and options). There are other courses that examine these investments in detail — Finance 727 for bonds and Finance 723 for futures and options. We begin with an overview of the types of investments available, the mechanics of the trading process if one is investing directly, and methods of “indirect” investing through investment companies. We examine the historical record of risks and returns of various types of marketable securities, and then develop the concepts underlying modern portfolio theory. This leads to our study of models linking security risk with expected return. The remainder of the course considers in turn three primary categories of marketable investments. We first develop the methods of equity valuation, and learn about the concept of market efficiency. We then turn to fixed income securities, and finally consider derivative securities. Prerequisites The prerequisites are Finance 620 and Management Science 330. In addition, AMIS 211 and 212 and Economics 200 and 201 are required (and should have been taken before Finance 620). Reading Material Required: Investments: Analysis and Management by Charles P. Jones (John Wiley & Sons, 10th edition, 2007, ISBN 047004781X). A copy of the textbook will be kept on reserve at the library. The relevant chapters of the textbook solutions manual will be posted on the course web page (Carmen). The course packet at the Tuttle Park Uniprint contains the problem sets for each chapter. These are primarily exercises from the textbook, and the solutions can be found in the solutions manual. The course packet also contains solutions to any additional exercises I have assigned and corrections or clarifications to the answers in the solutions manual. In
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addition, the course packet has sample questions (and solutions) from old quizzes and old exams. Optional: At the textbook web site, http://bcs.wiley.com/he-bcs/Books? , the student section has a lot of multiple choice questions (“Author’s Practice Questions”). In addition to the assigned problem sets, the multiple choice questions might be helpful for exam preparation. For those who wish to dig more deeply into a topic, the web site also has cases for each chapter that often have links to interesting resources on the web.
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722Syllabusjp - OHIO STATE UNIVERSITY Fisher College of...

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