Lecture 1 - MGCR341:Finance1 Summer2010 VadimdiPietro

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MGCR 341: Finance 1 Summer 2010  Vadim di Pietro Desautels Faculty of Management  McGill University
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Lecture 1: Outline • Syllabus key points • Course description • Topic 1: Time value of money (Chapters 3, 4, 5) – Present Value, Future Value – Annuities, Perpetuities
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Syllabus key points • Contact information:  vadim.dipietro@mcgill.ca – Please include MGCR 341 in email subject line • Office hours: 5pm to 6pm on days before assignments are  due and by appointment • Course material – Based on class notes – Slides not a substitute for attendance – Class participation is strongly encouraged – Textbook:  Corporate Finance, 2 nd  Edition Strongly recommended But possible to get by without it
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Syllabus key points (2) • Grading scheme • Assignments = 20%, groups of up to 3 • Midterm exam (July 27 th ) = 30% • Final  exam (Aug 19 th , cumulative) = 50% • Course objective – Develop financial toolkit and economic intuition to  eventually become successful investors and/or corporate  managers
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Finance 1: Course description • Asset Pricing – Time value of money – Arbitrage – Risk aversion: mean-variance preferences – Diversification and optimal portfolio choice – Systematic vs. idiosyncratic risk – Capital Asset Pricing Model (CAPM) – Market Efficiency and behavioural finance – Equity valuation – Bond valuation
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Finance 1: Course description (2) • Corporate Finance – Investment decision rules – Net Present Value – Internal Rate of Return (IRR) – Cost of capital – Capital structure – Leverage, expected returns, and risk – Miller Modigliani irrelevance theorem – Debt and taxes – Financial distress – Capital structure and agency issues
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Lecture 1 - MGCR341:Finance1 Summer2010 VadimdiPietro

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