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MBA 641 Fixed Income Securities
Nowacki, David


Mission Statement: The mission of the School of Graduate and Professional Studies at Park University is to provide leadership and directions to Park University's graduate and professional programs to assure that they are specialized, scholarly, innovative, and designed to educate students to be creative, independent, and lifelong learners within the context of a global community.

Vision Statement: Park University's School of Graduate and Professional Studies will be an international leader in providing innovative graduate and professional educational opportunities to learners within a global society.

Course

MBA 641 Fixed Income Securities

Semester

S2P 2011 DL

Faculty

Nowacki, David

Title

Adjunct Faculty

Degrees/Certificates

BS – Louisiana State University
M.B.A & M.S. – Louisiana State University
PhD (coursework) – University of Texas at Dallas

Office Location

Online Only

Office Hours

9 AM – 9:15 PM – by phone (or by telephone appointment)

Daytime Phone

972-385-1769

Other Phone

972-322-1040

E-Mail

David.Nowacki@park.edu;

David.n.Dallas@gmail.com

Semester Dates

3/14/2011 - 5/15/2011

Class Days

Online

Class Time

Online

Prerequisites

FI 615 and FI640

Credit Hours

3


Textbook:

Required Text:  Fixed Income Markets and Their Derivatives, 3rd Edition).    Elsevier Inc. 2009.
Author(s): Suresh Sundarresan
ISBN: ISBN # 978-0-1237 0471 - 9

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
Financial Calculator (Excel preferred)


McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
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Course Description:
MBA 641 Fixed Income Securities: This course is rigorous study of fixed income securities, including default-free bonds, floating rate notes, and corporate bond. Closely related financial instruments such as forwards and futures on fixed income securities, bond options, and interest rate swaps are also examined, in addition to analyzing specific types of fixed income securities, there will be an examination of the tools used in bond portfolio management. Prerequisites: MBA 615 and MBA 640 (Formerly FI 641) @

Educational Philosophy:

Each student should be treated with respect and courtesy. Each student has the right to know how they will be evaluated and why topics are being covered. This course targets theory, work applications and real world scenarios as they apply to capital markets, especially fixed income markets. The student is required to make an effort in learning this material and the instructor will aid those seeking additional support.

Learning Outcomes:
  Core Learning Outcomes

  1. Demonstrate, through application, a thorough working knowledge of the analysis of fixed income securities.
  2. Analyze basic characteristics of bonds in alternative sectors, valuation tools, and the factors that influence bond yields.
  3. Estimate risk and returns for fixed income investments, analyze fixed income securities with unique features, and value fixed income investments with embedded options.
  4. Evaluate principles and techniques of risk management for a portfolio of fixed income securities.
  5. Analyze the determinants of interest rate levels and term-structure.


  Instructor Learning Outcomes
  1. 4. Outline key market participants: issues, investors and intermediaries.
  2. 8. Define mortgages and how they create mortgage-backed securities.
Core Assessment:

Class Assessment:

Grading Criteria


Course Evaluation

 % Weights

5 Graded Discussions (postings);

10%

4 Homework assignments

15%

7 Weekly quizzes

 35%

Term Project

 15%

 Final Exam

 25%

 Total Points

100%

 Grading Scale


 A =

 90 – 100%

 B =

 80 - 89%  

 C =

 70 - 79%    

 D =

 60 – 69%

 F =

 59% and below

Each grading opportunity will be based on 100 points each. For example, you might receive 90 points on a single graded discussion assignment. The score of 90 times a 2% grade weighting means you have earned 1.8 points toward your final grade. A score of 80 on the final exam means you have earned 20 points toward your final grade.

Grading Outline:

Discussions: 

·        Not having a minimal number of valid posts: 30% to 60% deduction

·        Grammar issues: up to 20% deduction, depending on the magnitude

·        Improper posts (i.e., Insulting others): up to 100% deduction, depending on the magnitude

Homework:

·        Two assignments will be turned in through an automated grading system. Point values per question in the assignment will indicate the value per question.

·        Two other assignments will be manually graded; point assignments per question are given and partial credit will be granted for work submitted.

Weekly Quizzes:

·        Quizzes may have a different number of questions from week to week.

·        Also questions may be drawn from a pool of questions (your get 15 from a pool of 50 questions).

·        Each question or set of questions may have a different weight for that particular exam. 

·        Grades will be determined by the number of correct answers.

Project:

·        The project will be manually graded.

·        Each section is given a grade weight and partial credit may be earned.

Final Exam:

·        Individual’s tests will be a set of questions drawn from a question pool. 

·        Questions may have different point values or weights.

Late Submission of Course Materials:

The participation element of the Discussion Question assignment cannot be made up after the end of the week in which the question is due. Late work loses 10% per day late and will not be accepted after 7 days. All work must be completed by the last day of class.

Classroom Rules of Conduct:

Academic Honesty:
As a learning community, the University upholds the highest standards of academic integrity in all its academic activities, by faculty, staff, administrators and students. Academic integrity involves much more than respecting intellectual property rights. It lies at the heart of learning, creativity, and the core values of the University. Those who learn, teach, write, publish, present, or exhibit creative works are advised to familiarize themselves with the requirements of academic integrity and make every effort to avoid possible offenses against it, knowingly or unknowingly. Park University 2008-2009 Graduate Catalog Page 25

Plagiarism:

Plagiarism involves the appropriation of another person's ideas, interpretation, words (even a few), data, statements, illustration or creative work and their presentation as one's own. An offense against plagiarism constitutes a serious academic misconduct.  Although offenses against academic integrity can manifest themselves in various ways, the most common forms of offenses are plagiarism and cheating. Plagiarism goes beyond the copying of an entire article. It may include, but is not limited to: copying a section of an article or a chapter from a book, reproduction of an art work, illustration, cartoon, photograph and the like and passing them off as one's own. Copying from the Internet is no less serious an offense than copying from a book or printed article, even when the material is not copyrighted.

Plagiarism also includes borrowing ideas and phrases from, or paraphrasing, someone else's work, published or unpublished, without acknowledging and documenting the source. Acknowledging and documenting the source of an idea or phrase, at the point where it is utilized, is necessary even when the idea or phrase is taken from a speech or conversation with another person.

Park University 2008-2009 Graduate Catalog Page 25

Attendance Policy:

Professors are required to maintain attendance records and report absences. Excused absences can be granted by the instructor, for medical reasons, school sponsored activities, and employment-related demands, including temporary duty. Students are responsible for any missed work. Absences for two successive weeks, without approved excuse, will be reported to the Director of the individual graduate program, or to the Executive Director for the Graduate School, for appropriate action. Students with such a record of absences, without an approved excuse, may be administratively withdrawn from the class and notified that an "F" will be recorded, unless the student initiates official withdrawal from the class(es).Park University 2008-2009 Graduate Catalog Page 29

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .

Course Topic/Dates/Assignments:

Course Calendar of Assignments:  

(see Excel file outlining dates in   doc sharing)

Week 1 Activities:

Readings:
Chapters 1, 3, and 6

Grading: Weekly Quiz and Graded Discussion (topics posted online):

Fixed Income Market Overview

Market Participants including the U.S. Treasury

Week 2 Activities:

Readings:
Chapter 2 

Grading: Weekly Quiz and Homework #1 (file posted online):

Mathematics and Quantitative Analysis of fixed income securities

Week 3 Activities:

Readings:
Chapters  8 & 9

Grading: Weekly Quiz, Homework #2 (file posted online) and Graded Discussion:

Yield Curve

Public Markets

Week 4 Activities:

Readings:
Chapters 1.4 (re-visit), 4 and 5

Grading: Weekly Quiz, Homework #3 (file posted online) and Graded

Discussion:

Bond Types

Structures

Issuers and Uses

Week 5 Activities:

Readings:
Chapters  11, 12 & 19


Grading: Weekly Quiz, Homework #4 (file posted online) and Graded

Discussion:

 

Mortgage Markets

Mortgage-backed securities and derivatives

Week 6 Activities:

Readings:
Chapter 17

Grading: Weekly Quiz  and Graded Discussion:

Derivatives

Week 7 Activities:

Readings:
Chapter  10

Grading: Weekly Quiz and Project:

Portfolio Management of fixed income securities

Week 8 Activities:

Readings: Chapter 16 & 18

Grading: Final Exam

Interest Rate Swaps (topic to be included in final exam).

 

 

Academic Honesty:
As a learning community, the University upholds the highest standards of academic integrity in all its academic activities, by faculty, staff, administrators and students. Academic integrity involves much more than respecting intellectual property rights. It lies at the heart of learning, creativity, and the core values of the University. Those who learn, teach, write, publish, present, or exhibit creative works are advised to familiarize themselves with the requirements of academic integrity and make every effort to avoid possible offenses against it, knowingly or unknowingly. Park University 2010-2011 Graduate Catalog Page 20

Plagiarism:

Plagiarism involves the appropriation of another person's ideas, interpretation, words (even a few), data, statements, illustration or creative work and their presentation as one's own. An offense against plagiarism constitutes a serious academic misconduct.  Although offenses against academic integrity can manifest themselves in various ways, the most common forms of offenses are plagiarism and cheating. Plagiarism goes beyond the copying of an entire article. It may include, but is not limited to: copying a section of an article or a chapter from a book, reproduction of an art work, illustration, cartoon, photograph and the like and passing them off as one's own. Copying from the Internet is no less serious an offense than copying from a book or printed article, even when the material is not copyrighted.

Plagiarism also includes borrowing ideas and phrases from, or paraphrasing, someone else's work, published or unpublished, without acknowledging and documenting the source. Acknowledging and documenting the source of an idea or phrase, at the point where it is utilized, is necessary even when the idea or phrase is taken from a speech or conversation with another person.

Park University 2010-2011 Graduate Catalog Page 20


Attendance Policy:

Instructors are required to maintain attendance records and report absences. Excused absences can be granted by the instructor, for medical reasons, school sponsored activities, and employment-related demands, including temporary duty. Students are responsible for any missed work. Absences for two successive weeks, without approved excuse, will be reported to the Director of the individual graduate program, or to the Executive Director for the Graduate School, for appropriate action. Students with such a record of absences, without an approved excuse, may be administratively withdrawn from the class and notified that an "F" will be recorded, unless the student initiates official withdrawal from the class(es).Park University 2010-2011 Graduate Catalog Page 24

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .

Copyright:

This material is protected by copyright
                               and can not be reused without author permission.

Last Updated:2/10/2011 2:52:49 PM