Posted: August 22, 2008
Effective Tuesday, September 2,
2008 I will begin taking attendance. You are advised to review your
syllabus for my cut and tardiness policies. Unannounced quizzes will not
be given prior to September 9, 2008. Unless I indicate to the
contrary, quizzes will be multiple choice and will be restricted to the assigned
material
presented in the text. Exams, however, are another story.
You are required to bring your text and a calculator to class.
This page will be the major source for announcements and assignments.
Review your syllabus carefully and raise any questions you might have at our second meeting.
Supplements to the text are to be downloaded and brought to class.
I suggest that you check this page in the morning and in the evening of each day.
To assist you in keeping pace with the course I have provided lecture notes to Chapters 1&2 and Chapter 3. Chapter 1 and 2 notes are in a single word document while Chapter 3 notes are on a separate document. These documents will be available on Angel. .
The following links will take you directly to my lecture notes. Future lecture notes will be placed on Angel.
Posted August 27, 2008 at 3:00 PM
I have revised my Chapter 1 and 2 Lecture notes. There is one new section and my note on investment banks has been moved to my Chapter 1 & 2 Notes file. Previous references posted in the August 22, 2008 announcement have been removed. All documents are now available on Angel.
Posted: September 1, 2008 at Approximately 8:20 A.M.
You are reminded that I will formally begin the class roll tomorrow. I suggest that you review the course syllabus for my attendance policy. Each student is to access the National Bureau of Economic Research web site (NBER) for a listing of Business Cycle Expansions and Contractions Dates". You are required to bring the listing to class tomorrow. Your Chapter 3 assignments are on Angel. This includes the following documents, 1) my Chapter 3 notes, 2) "How Money Matters" and 3) "Money versus Market Liquidity". You can bring hard copies to class tomorrow or follow my lecture on your laptops by accessing the referenced documents during class.
September 3, 2008 at Approximately 1:45 PM
Three Chapter 4 Supplements are on Angel: 1) Money Market Instruments, 2) Treasury Auction Results and 3) Capital Market Instruments. You need to have access to these documents in class tomorrow. You can do this by bringing hard copies to class or by accessing these documents by way of your laptop during class. More supplements will be added so check Angel frequently.
September 3, 2008 at 5:40 PM
Additional Chapter 4 supplements are on Angel. When I begin my lectures on the topics covered by these supplements you will need to access these documents. You can do so by bringing hard copies to class or by accessing these documents by way of your laptop during class. Two more supplements will be added on Saturday. I note that your syllabus indicates that 6 class meetings will be used to cover Chapter 4 and its supplements.
September 6, 2008 at Approximately 9:15
In preparation for a speaker on September 16 we will meet at 11:30 on September 9, 2008 in our classroom. Students should prepare themselves, as best you can, for a discussion on subprime mortgages and the credit crunch. This can be done by engaging in internet searches. On September 16, 2008 Paul Kamor will speak on these topics and there will be time for questions. Only those students who signed up for the voluntary sessions can participate in these sessions and registration is closed.
I have placed instructions on Angel on accessing employment data from the Bureau of Labor Statistics page. You are to bring the data to class on Tuesday.
Be prepared for a 15 question multiple choice quiz on Chapters 1 & 2 on Tuesday, September 9, 2008 and a 10 question multiple choice test on Chapter 3 on Tuesday, September 16, 2008. All questions are based on the material in your text. There is no need to memorize the material in Table 5 on page 43.
September 10, 2008 at Approximately 10:30 AM
In my Chapter 4 Supplements on Angel, I have clarified the explanation of the equations appearing on page 9 of my Money Market notes. The equations in my notes, as originally provided, are correct.
September 12 at Approximately 11:45 AM
Chapter 4 Supplements now contain a Word document and an Excel document dealing with accrued interest. Be prepared to discuss these two documents and the TIPS documents on Tuesday. Your Tuesday quiz will be a Chapter 1 and 2 multiple choice quiz. On Thursday you will be given a quiz on Chapter 3. Bring you laptops to class.
September 12 at 3:33 P.M.
Frank Corcione wrote:
Unilever is seeking full time hires with employment beginning in the Summer
2008. The position is an undergraduate finance position bearing the title "Finance
Analyst". While Unilever will not be on campus to
interview, the Corporation will be collecting resumes via the Career Services
website, and phone screens will follow for selected candidates.
The deadline for resumes is
Oct 5. Cheryl Collarini in Career Services can help direct
students on the posting process online though the following link: http://www.collegecentral.com/scranton/Employer.cfm.
The links below may be of interest:.
Please Note:
September 13, 2008 at 9:15 AM
For those in the voluntary program, your speaker this coming Tuesday is Paul Kamor. His resume is available on Angel. For your quiz on Tuesday and Thursday you will need pencils.
September 17, 2008 at 3:10 PM
Be prepared for two quizzes tomorrow. Quiz 1 covers Chapters 1&2 and Quiz 3 covers Chapter 3. Bring pencils
September 20, 2008 at Approximately 4:30 PM
In light of the situation in the credit markets I have found it necessary to modify your assignments. On Tuesday I will start on the material in my Chapter 4 Supplements that was not covered. In particular the remainder of my Chapter notes and the documents on reinvestment risk and bond price volatility The material on Flow of Funds and Expansion of Loanable funds is no longer a part of your assignment. We will then move to Chapter 15, were I will provide current information on Fed lending. You will then cover Chapters 9, 11, 12 and 14. I expect to summarize these chapters and will not be providing detailed lectures. I may provide notes. After we complete these chapters I will announce modifications to the syllabus.
I still expect to give a period exam on 9/30. The material on the test will be announced as the test date approaches.
September 24, 2008 at Approximately 12:10 PM
I will not be conducting class tomorrow. My cold has become worse and I am reacting to prescribed medications. You are responsible for Chapter 15 and Chapter 8 . I will not lecture on Chapter 15. On Tuesday, the 30th, we will apply the material in Chapter 8 to the current situation in the credit markets. Your test date is moved to October 7, 2008. I will announce the details of the test before the test date. Check this page several time a day before Tuesday.
September 29, 2008 at Approximately 8 PM
You are to have access to Chapter 15 documents tomorrow. They are up on Angel.
October 1, 2008 at Approximately 6:15 PM
Your period exam is scheduled for October 7, 2008. The material on the examination includes the text material in Chapters 1, 2, 3, 4 , 8, 15 an supplements on Angel. I have not constructed the test yet but anticipate some combination of multiple choice and short response questions. Most response questions require short responses such as list, without explanation the money market instruments. Other short response questions require that you make calculations and show the details of your work. The details of your work are more important than the answer itself. Consequently the use of a sophisticated financial calculator is of little value. If the details are wrong and the answer is correct no credit is awarded. There are a few questions that are thought provoking and require longer answers. If your response is extraneous to the question asked or if your response is not legible or if your response fails to reflect reasonable written communication skills, you will be awarded the grade of zero for the question.
Students who prefer to use lined paper should bring lined paper to the test. I will provide unlined paper. You might consider using pencil to answer questions. In this way you can erase the parts of your response that you want to change. However, if you use pencil you must make certain that your response is dark enough to read. You will provide your answers on one side of a sheet of paper. There will be no writing on the front and back of a sheet of paper. Each sheet of paper is to be numbered, with a number at the top center of the page. Each sheet of paper is to bear your name, with your name appearing to the extreme right of the number. If you are using pencil I recommend two number 2 pencils, a hand pencil sharpener and an eraser that is in good condition. All students are to bring calculators with fresh batteries. You are advised to use lavatory facilities prior to the test. You will have 70 minutes to complete the test. I suggest that you arrive at the classroom ten minutes early so that we can begin the test at 8:30 and 10 AM.
October 3, 2008 at 7:15 PM
I have completed the multiple choice component of your test. It consists of 30 questions: one from Chapter 1, two from Chapter 2, four from Chapter 3, seven from Chapter 4, ten from Chapter 8 and five from Chapter 15. I believe these questions to be relatively easy and should take you no more than 20 minutes. I will construct part 2 of the test tomorrow, the essay/problem component.
October 4, 2008 at 12:50 PM
I have completed the essay/problem component of your test. There are 16 questions constructed from chapters and/or chapter supplements.
1 from chapter 2 and/or supplements
3 from Chapter 3 and/or supplement,
8 from Chapter 4 and/or supplements,
2 from Chapter 8
2 from Chapter 15 and/or supplements.
Four of the 16 questions require that you list responses without providing explanations. Two questions require that you provide numerical responses, without explanations but, with the detailed math shown. Students can choose between two tests: 1) 30 multiple choice and essay/problems 5, 9, 10, 14, 15 and 16 or 2) All 16 essay/problem questions and no multiple choice. Your choice will be made at the time of the test, prior to seeing the essay/problems. The following directions apply to the essay/problem questions.
Answers are expected to be well organized, well written, legible, and presented in a clear and precise manner. Your responses should deal with major issues, with sufficient detail provided to justify your answer. Extraneous considerations will not receive credit. You are required to answer the questions in the order in which they are presented. If you do not respond to a question and write “skip” you will receive 30%of the question=s point total. If you respond to a question your grade will vary from a low of 0% to a high of 100%. Only entire questions, not parts of a question, can be skipped. If your response is extraneous to the question asked or if your response is not legible or if your response fails to reflect reasonable written communication skills, you will be awarded the grade of zero for the question.
Read the October 1 Announcement.
October 8, 2008 at Approximately 4:PM
My Chapter 5 notes are available on Angel. Make sure you can view these notes during tomorrow's lecture.
October 22, 2008 at Approximately 5:15 PM
Students interested in the Fixed Income course to be offered next semester can pick-up a course description and application in the Economics-Finance office, Brennan 438. Mrs. Moir will provide these documents upon request. The application deadline is November 3, 2008.
A shorter version of Chapter 22 is on Angel. Please have access to this document during my lecture, which may begin tomorrow.
November 3, 2008 at Approximately 6 PM
My Chapter 24 notes are now on Angel.
November 5, 2008 at Approximately 11AM
Chap 5 quiz, 10 MC, on Tuesday, November 11
Chapter 22 and Chapter 24 quiz, combined, 10 MC, November 13
Period Examination, same test for all students, essay/problem type
Repeat Chapter 4 and Chapters 5, 22, 24, and 9.
Chapter 9 - I have no notes to provide. We will follow the Text. Bring your text to class.
I will lecture to the Application section on page 234. I will also lecture on the section titled Risk Management on page 238 to Off Balance Sheet Activities .
The remaining chapter 9 material is the responsibility of student. If you have any questions raise them tomorrow.
November 5, 2008 at Approximately 7:40 PM
I have decided to put my Chapter 9 notes up on Angel. I have not had time to update these notes to incorporate recent changes in practices and the law.
November 12, 2008 at Approximately 7:45 AM
Your quiz on Chapter 22 and 24 draws from the material in your text that corresponds to my notes. Study my notes and if you require clarification consult the text.
Your period test is moved from Tuesday, November 18 to Tuesday November 25. Your test will be on the following material,
Repeat Chapter 4 and my notes
Chapter 5 and my notes
Chapter 22 and Chapter 24, my notes
Chapter 9 and my notes
My Chapter 9 notes contain some errors. These notes will be revised and put up on Angel as "Revised Chapter 9 notes
Raise any questions that you might have tomorrow in class.
After finishing Chapter 9, I plan to begin lecturing on Chapter 16 and 17.
November 12, 2008 at Approximately 11:25 AM
My Chapter 9 revised notes are on Angel. Major changes are in red ink. My chapter 16 notes are on Angel. I will not be lecturing on all the material in my notes. The sections following my lecture are designated as required and not required. Required material is required of all students
November 23, 2008 at 5 AM
Your test on Tuesday will not include material from Chapter 4. There are nine essay-problem type questions on the test, as follows
Chapter 5, text, notes and lectures 2 questions
Chapter 9, text, notes and lectures 3 questions
Chapter 22 Shorten Notes and lectures 2 questions
Chapter 24 Shorten Notes 2 questions
The following represents directions placed at the top of your test.
Answers are expected to be well organized, well written, legible, and presented in a clear and precise manner. Your responses should deal with major issues, with sufficient detail provided to justify your answer.
Extraneous considerations will not receive credit. You are required to answer the questions in the order in which they are presented. If you do not respond to a question and write “skip” you will receive
30%of the question's point total. If you respond to a question your grade will vary from a low of 0% to a high of 100%. Only entire questions, not parts of a question, can be skipped.
If your response is extraneous to the question asked or if your response is not legible or if your response fails to reflect reasonable written communication skills, you will be awarded the grade of zero for the question.
Check Angel for copies of my notes on material that will be covered on the final.
December 3, 2008 at 6:15 AM
Bring a copy of this article to class tomorrow.
http://seekingalpha.com/article/105276-what-s-happening-to-the-fed-funds
Bring a copy of there articles to class tomorrow.
http://us.ft.com/ftgateway/superpage.ft?news_id=fto112020081450283360&page=2
December 3, 2008 at 7:15 PM
I have posted a short piece on Angel titled, FED Funds and the Discount rate. Bring a copy to class tomorrow.
There will be two parts to your final. Part 1 consists of 30 MC questions drawn from Chapters 16, 17 and 18 of your text.
Part 2 will be essay/problem type questions. I have not constructed Part 2 yet.
10 AM section
Exam date - Tuesday, Dec.9, 10:15 - 12:15 AM, Regular Classroom
8:30 AM section
Includes students from the 10 AM Section who were approved for transfer to the Thursday Test
Thursday, Dec. 11, 8:00 - 10:00 AM, Regular Classroom
December 5, 2008 at 10 AM
An option is available for students who do not want to take the essay/problem part of the final exam. There are 30 multiple choice questions on part 1 of the final exam. These questions are drawn from the material in Chapters 16, 17 and 18 of your text and do not draw from any detailed material in my supplements. Students who only take the MC test can earn a grade that ranges from 0 to 100 on the MC test; however, the maximum course grade that can be earned is a B-. You will have 45 minutes to complete the test. Should you elect to choose this option you must email me by 12 noon tomorrow, Saturday the 6th. Your email is to bear your full name and the time of your class. Students who elect to exercise this option should copy and paste the following passage on the mail to me. Make certain you provide your name and class meeting time.
I elect to take only part 1 of the final exam, the MC portion. I recognize that regardless of my MC test grade, the maximum grade I can earn for the course is a B-. I am aware that once I elect this option my election can not be changed. I will have 45 minutes to complete the MC test. Further, I understand that this declaration must be received by Dr. Corcione by 12 noon on Saturday, December 6, 2008. I understand that declarations received by Dr. Corcione after 12 noon on Saturday, December 6th, will not be honored and I will be required to take both part 1 and part 2 of the final.
Student Name _____________________________
Class Time ________________________________
Students who take both the MC and Essay/problem will have the entire two hour period to take the exam. The essay/problem tests has not yet been constructed. It will be similar to earlier tests. Check this page frequently for more information about the essay/problem part of the final.
10 AM section
Exam date - Tuesday, Dec.9, 10:15 - 12:15 AM, Regular Classroom
8:30 AM section
Includes students from the 10 AM Section who were approved for transfer to the Thursday Test
Thursday, Dec. 11, 8:00 - 10:00 AM, Regular Classroom
December 6, 2008 at 4:00 PM
The 10 AM essay/problem final is complete. There are five questions with multiple parts. Questions were constructed from my notes on Chapters 16, 17 and 18, as well as my lectures, and from material in the text, Chapters 16, 17 and 18. In addition to this material you should be prepared to deal with the material you downloaded for the last day of class. In addition, be prepared to deal with fundamentals that are applicable to the study of money and financial markets, such as real and nominal interest rates, Fisher's Equation of Exchange...etc.. Some questions require graphs, some equations, some detailed explanations and some all three. You may bring lined paper to the exam. If your writing is light you should avoid using pencil and should use ink. Space your responses so that my comments can be inserted. You are required to write on one side of the paper and are to answer questions in the order of their appearance on the test. Bring a calculator with a fresh battery and bring number 2 pencils for the MC test. Use the rest room facilities prior to the exam.
I expect that these directions and instructions will also apply to the Thursday exam.
Answers are expected to be well organized, well written, legible, proper space between sentences and presented in a clear and precise manner. Your responses should deal with major issues, with sufficient detail provided to justify your answer. Extraneous considerations will not receive credit. You are required to answer the questions in the order in which they are presented. If you do not respond to a question and write “skip” you will receive 30%of the question’s point total. If you respond to a question your grade will vary from a low of 0% to a high of 100%. Only entire questions, not parts of a question, can be skipped. If your response is extraneous to the question asked or if your response is not legible or if your response fails to reflect reasonable written communication skills, you will be awarded the grade of zero for the question.
Bring a copy of theses instructions to the exam.
December 6, 2008 at 4:15 PM
Return email required prior to 12 noon on Sunday, December 7.
I elect to take only part 1 of the final exam, the MC portion. I recognize that regardless of my MC test grade, the maximum grade I can earn for the course is a B-. I am aware that once I elect this option my election can not be changed. I will have 45 minutes to complete the MC test. Further, I understand that this declaration must be received by Dr. Corcione by 12 noon on Saturday, December 6, 2008. I understand that declarations received by Dr. Corcione after 12 noon on Sunday, December 7, will not be honored and I will be required to take both part 1 and part 2 of the final.
Student Name _____________________________
Class Time ________________________________
December 8, 2008 at 11:05 AM
There is not much to add to my earlier announcements. There are now 6 questions instead of five. This applies to both the Tuesday and Thursday tests. Many of these questions have multiple parts. There is an issue involving Repos and Reverse Repos. If you use these terms make sure you state it that the transaction is a temporary purchase or temporary sale and then identify the seller of the security and the buyer of the security. Some students appear to be confused by your author's use of these terms and it is best to avoid the issue at this time.
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