This course aims to improve your ability to build sophisticated financial models using Excel (the principle tool of the finance profession). We will stress the integration of financial and accounting principles and their implementation in Excel. You should bring a laptop to class — here will be lots of interactive learning!

More specifically, we will cover two main topics: portfolio theory and corporate valuation.

Objectives:
á To become a financial analyst.
á To enable you to cultivate self-awareness through the full participation of open, intimate small-group and class discussions and the reflective exercises you must complete.
á To translate a business situation to a financial model, and analyze the sensitivity of the results to your assumptions.

*本学の教育ミッションを具現化する形で設定されています。

By the end of the course, you will be able to:

• Create design and analyze financial models in excel.
• Extract the efficient frontier and optimize asset allocation.
• Understand how to value a business and spot the key value drivers.

教育手法 Teaching Method		% of Course Time
インプット型 Traditional		50 %
参加者中心型 Participant-Centered Learning	ケースメソッド Case Method	40 %
	フィールドメソッド Field Method	10 %
合計 Total		100 %

There are 3 or 4 HW assignments. Assignment will be allocated after each class and is due for the next class. Please make sure you free up the time for them.

Submission is done electronically through Google Classroom. Since we are going to discuss the HW assignment in class, late submission will not be accepted.

There will also be a final examination at the end of the class on last day
Submission method： soft copy.

*成績は下記該当項目を基に決定されます。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。

講師用内規準拠 Method of Assessment	Weights
コールドコール Cold Call	0 %
授業内での挙手発言 Class Contribution	15 %
クラス貢献度合計 Class Contribution Total	15 %
予習レポート Preparation Report	0 %
小テスト Quizzes / Tests	0 %
シミュレーション成績 Simulation	0 %
ケース試験 Case Exam	15 %
最終レポート Final Report	0 %
期末試験 Final Exam	70 %
参加者による相互評価 Peer Assessment	0 %
合計 Total	100 %

評価の留意事項　Notes on Evaluation Criteria

The final exam will be done on your laptop.

• Simon Benninga and Tal Mofkadi「Principle of Finance with Excel (3rd Edition)」Oxford University Press（2017）978-0190296384

You must come prepared having read Ch. 21 - 24 of the book "Principle of Finance with Excel (3rd Edition)"
The exam will be open book so you should have the book with you.

Notes about additional readings: I will post on the course website other materials that I'm developing and that are required for the course.


Additional Recommended Resource Readings:
1. Financial Modeling (4th edition, MIT Press), by Simon Benninga.
2. Damodaran, Aswath. Damodaran on valuation: security analysis for investment and corporate finance. Vol. 324. John Wiley & Sons, 2016.
3. Bodie, Zvi, Alex Kane, and Alan J. Marcus. Essentials of Investments 9th Edition. McGraw-Hill, 2012.
4. Richard, A. Brealey, and C. Myers Stewart. "Principles of Corporate Finance, 7th-Brealey_ Meyers." (2016).

The course is very intensive, students who had basic background in finance and invested the required efforts, succeeded with distinction. However, those who lagged behind found the course too hard and too intensive. I have been teaching this class in NUCB for 4 years and the average grade is always “normal” and is equivalent to ~80-85. Unfortunately, there are typically 1-2 fails.