Lecture 1: Introduction to the Course
FINA2303
Financial Management
Yan Xiong
HKUST
Introduction and Chapter 1 FINA 2303, 1/28
Instructor and Teaching Assistants
Instructor: Yan Xiong 熊琰
Ph.D. in Finance (University of Toronto)
Research Interests: Big data, FinTech, Information economics,
Corporate finance
TAs:
Otto Chung (chungoj at ust.hk)
Gobin Rana (grana at ust.hk)
Introduction and Chapter 1 FINA 2303, 2/28
Administrative Stuff
Textbook: J. Berk, P. DeMarzo, and J. Harford,
Fundamentals of Corporate Finance, 4th edition, Pearson
My Finance Lab (must register before the first homework)
Lecture notes, Online Quizzes, readings, sample exams
http://canvas.ust.hk
Grading
Participation (5%)
10 MFL Homework (best 9) (10%)
Online Quizzes (2) (5%)
Midterm: Oct 16 (Sat afternoon) (35%)
Final (non-cumulative) (45%)
Tutorials: Fridays 12:30-13:20 (venue TBC)
Office hours (by appointment)
For Not-in-HK students, please move to L1 online session
Introduction and Chapter 1 FINA 2303, 3/28
Keys to Success in the Course
1Don’t lose the big picture.
2If you don’t understand anything, ASK!
3Do the homework and use Study Plan in MFL
4Spend at least several hours per week to study outside
classroom
Introduction and Chapter 1 FINA 2303, 4/28
Course Structure: Key Topics
Value of $10,000 Investment
10,000
14,000
18,000
22,000
26,000
Year
012345678910
10% return, 0.5% fee (e.g., Index fund)
10% return, 1.5% fee (e.g., Actively managed mutual fund)
Foundations and Tools
•Time value of money
•Interest rate
•Investment decision rules
•Measuring cash flows
Valuation
•Capital budgeting
•Stock and bond valuation
Risk and Return
•Systematic risk
and risk premium
•Cost of capital
Introduction and Chapter 1 FINA 2303, 5/28
Course Structure: Key Topics
Foundations and Tools
•Time value of money
•Interest rate
•Investment decision rules
•Measuring cash flows
Valuation
•Capital budgeting
•Stock and bond valuation
Risk and Return
•Systematic risk
and risk premium
•Cost of capital
Introduction and Chapter 1 FINA 2303, 5/28
Course Structure: Key Topics
Foundations and Tools
•Time value of money
Risk and Return
•Systematic risk
and risk premium
•Cost of capital
Your Money
Ron Lieber writes
the Your Money
column, which
appears in The
Times on Saturdays.
Ron Lieber’s Columns »
Bucks
Who is responsible
for student loan
debt in a marriage?
Share your
thoughts.
Post a Comment
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Tami Chappell for The New York Times
Ms. Tidwell will probably rack up
$250,000 in debt by the time she is
done with sc hool.
early on in their relationship that she
had over $100,000 of debt. But, she
said, even she didn’t know what the
true balance was; like a car buyer who focuses on only the
monthly payment, she wrote 12 checks a year for about
$1,100 each, the minimum possible. She didn’t focus on
the bottom line, she said, because it was so profoundly
depressing.
But as the couple got closer to their wedding day, she took
out all the paperwork and it became clear that her total
debt was actually about $170,000. “He accused me of
lying,” said Ms. Eastman, 31, a San Francisco X-ray
technician and part-time photographer who had run up
much of the balance studying for a bachelor’s degree in
photography. “But if I was lying, I was lying to myself, not
to him. I didn’t really want to know the full amount.”
At a time when even people with no graduate degrees,
like Ms. Eastman, often end up six figures in the hole and
people getting married for the second time have loads of
debt from their earlier lives, it should come as no surprise
that debt can bust up engagements. Even when couples
disclose their debt in detail, it poses a series of
challenges.
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