Identifying Data 2016/17
Subject (*) Teoría do Investimento Code 611G02020
Study programme
Grao en Administración e Dirección de Empresas
Descriptors Cycle Period Year Type Credits
Graduate 2nd four-month period
 Second Obligatoria 6
Language
Spanish
Galician
English
Teaching method Face-to-face
Prerequisites
Department Economía Financeira e Contabilidade
Coordinador
Fernandez Castro, Angel Santiago
 E-mail
angel.fernandez.castro@udc.es
Lecturers
Alvarez Garcia, Begoña
Fernandez Castro, Angel Santiago
Lagoa Varela, Maria Dolores
Llano Paz, Fernando de
Peón Pose, David Olegario
Suarez Massa, Maria Isabel Ana
 E-mail
begona.alvarez@udc.es
angel.fernandez.castro@udc.es
dolores.lagoa@udc.es
fernando.de.llano.paz@udc.es
david.peon@udc.es
isabel.suarez.massa@udc.es
Web
General description A materia pretende que os alumnos desenvolvan as habilidades precisas para realizar a avaliación financeira de proxectos de investimento.

Study programme competencies
Code Study programme competences
A1 Manage an enterprise or small organization, understanding their competitive and institutional position and identifying their strengths and weaknesses
A2 Integrate in any functional area of micro-firms or SMEs and perform fluently any management task commissioned
A3 Evaluate and foreseeing, from relevant data, the development of a company.
A4 Elaborate advisory reports on specific situations of companies and markets
A5 Write projects about specific functional areas (e.g. management, marketing, financial) of the company
A6 Identify the relevant sources of economic information and to interpret the content.
A8 Derive, based on from basic information, relevant data unrecognizable by non-professionals.
A9 Use frequently the information and communication technology (ICT) throughout their professional activity.
A10 Read and communicate in a professional environment at a basic level in more than one language, particularly in English
A11 To analyze the problems of the firm based on management technical tools and professional criteria
B1 CB1-The students must demonstrate knowledge and understanding in a field of study that part of the basis of general secondary education, although it is supported by advanced textbooks, and also includes some aspects that imply knowledge of the forefront of their field of study
B2 CB2 - The students can apply their knowledge to their work or vocation in a professional way and have competences typically demostrated by means of the elaboration and defense of arguments and solving problems within their area of work
B3 CB3- The students have the ability to gather and interpret relevant data (usually within their field of study) to issue evaluations that include reflection on relevant social, scientific or ethical
B4 CB4-Communicate information, ideas, problems and solutions to an audience both skilled and unskilled
B5 CB5-Develop skills needed to undertake further studies learning with a high degree of autonomy
B6 CG1-Perform duties of management, advice and evaluation in business organizations
B7 CG2-Know how to use the concepts and techniques used in the various functional areas of the company and understand the relationships between them and with the overall objectives of the organization
B8 CG3- Know how to make decisions, and, in general, assume leadership roles.
B9 CG4-Learn to identify and anticipate opportunities, allocate resources, organize information, select and motivate people, make decisions under conditions of - uncertainty, achieve the proposed objectives and evaluate results
B10 CG5-Respect the fundamental and equal rights for men and women, promoting respect of human rights and the principles of equal opportunities, non-discrimination and universal accessibility for people with disabilities.
C1 Express correctly, both orally and in writing, in the official languages of the autonomous region
C4 To be trained for the exercise of citizenship open, educated, critical, committed, democratic, capable of analyzing reality and diagnose problems, formulate and implement knowledge-based solutions oriented to the common good
C5 Understand the importance of entrepreneurial culture and know the means and resources available to entrepreneurs
C6 Assess critically the knowledge, technology and information available to solve the problems and take valuable decisions
C7 Assume as professionals and citizens the importance of learning throughout life.
C8 Assess the importance of research, innovation and technological development in the economic and cultural progress of society.

Learning aims
Learning outcomes Study programme competences
Deepen the understanding of financial logic A1
 B1
B2
 C6
C8
Understand the groundings of investment project analysis A1
A3
 B3
B7
B10
 C4
Know how to evaluate a non-financial investment A2
A4
A5
A6
A8
A11
 B5
B8
Know how to develop models and how to apply IT tools A5
A9
 B3
B5
B7
 C5
C7
Know how to formulate and defend a financial project A10
A11
 B3
B4
B6
B7
B8
B9
B10
 C1
C5
C8

Contents
Topic Sub-topic
Evaluating investment projects. The value. Introduction to investment analysis.
Fundamentals and phases of the evaluation model.
The cash flows (direct method)
The Net Present Value
The Internal Rate of Return
Other criteria: Payback, Annuity and Profitability index
Risk in individual projects Risk and Uncertainty.
Sensitivity analysis.
Introduction to simulation.
Decision trees.
Advanced investment analysis tools The cash flows (indirect method).
Investment in equipment.
Investment decisions under capital rationing.
Multicriteria decision making. AHP

Planning
Methodologies / tests Competencies Ordinary class hours Student’s personal work hours Total hours
Guest lecture / keynote speech A1 A3 A4 A8 A10 A11 B1 B6 B7 B10 C1 C4 C6 C7 C8 17 34 51
Case study A1 A2 A3 A4 A5 A6 A8 A10 A11 B2 B3 B4 B5 B6 B7 B8 B9 C1 C6 C7 25 50 75
ICT practicals A1 A2 A3 A4 A5 A6 A8 A9 A10 A11 B2 B3 B4 B5 B6 B7 B8 B9 C1 C5 C6 C7 4 8 12
Mixed objective/subjective test A3 A4 A8 A10 A11 B2 B3 B5 B6 B7 B8 C1 C6 2 9 11
 
Personalized attention 1 0 1
 
(*)The information in the planning table is for guidance only and does not take into account the heterogeneity of the students.

Methodologies
Methodologies Description
Guest lecture / keynote speech Presentation of the general aspects of the subject.
Case study Real or realistic investment projects will be developed and analyzed. Projects developed by students will be dealth with, in addition to those raised by the teaching staff.
ICT practicals Development and application of analytical models using spreadsheet and / or specific software
Mixed objective/subjective test Written examination of theoretical-practical content

Personalized attention
Methodologies
Mixed objective/subjective test
Guest lecture / keynote speech
ICT practicals
Case study
Description
Practical activities will be developed in lectures and as an extension of them, which requires, by its very nature, teacher supervision. 4 hours of seminars (small group tutoring) will be scheduled, where individual questions in which may address. In addition, students have access to the tutoring schedule published by the Faculty for personalized attention.

Assessment
Methodologies Competencies Description Qualification
Mixed objective/subjective test A3 A4 A8 A10 A11 B2 B3 B5 B6 B7 B8 C1 C6 With an essentially practical focus, pretends to measure the general quality of the learning, the skills and competencies developed by the students. 50
ICT practicals A1 A2 A3 A4 A5 A6 A8 A9 A10 A11 B2 B3 B4 B5 B6 B7 B8 B9 C1 C5 C6 C7 ICTs have in this subject an instrumental role. Accordingly, while these skills will not be assessed directly, some evaluated problem solving might make use of IT tools. 0
Case study A1 A2 A3 A4 A5 A6 A8 A10 A11 B2 B3 B4 B5 B6 B7 B8 B9 C1 C6 C7 The capacity to frame and solve models for investment project evaluation will be valued. 50
 
Assessment comments

The evaluation criteria are applied with complete uniformity in the "opportunities" of June and July, and also for part-time srudents. The set of practical activities developed in classw eighs 50% in the evaluation. These activities embedded in the learning process developed in the classes, so they can only be assessed when tasks are performed according to their schedule for the corresponding group. In the evaluation of continuous assessment, the worst (or missed mark) will be skipped. 

According to the applicable regulations, the exams will be performed at official dates, except in cases expressly considered in academic regulations; and the mark "absent" will be awarded when activities carried out weigh less than 20% in the evaluation (regardless of peformance). 

In the early call opportunity, evaluation is carried out by a specific exam, comprehensive of all contents and skills of the subject.

Sources of information
Basic Fernández Castro, A.S. e Iglesias Antelo, S. (2000). Métodos Cuantitativos de Selección de Inversiones. Casos prácticos. . Santiago: Tórculo Edicións
BREALEY, R.A.; MYERS, S.C y ALLEN, F. (2010). PRINCIPIOS DE FINANZAS CORPORATIVAS, 9ª ed.. MacGraw-Hill
(). Principles of Corporate Finance.

Other editions of the the handbook selected, or of other related books in which some of these authors are involved, also provide support for most of the concepts discussed.

Complementary Suárez, A. (2005 ). Decisiones óptimas de inversión y financiación en la empresa. . Madrid: Pirámide
Piñeiro, C.; de Llano, P (2006). Dirección Financiera: modelos avanzados de decisión con Excel. . Madrid: Delta
Boedo Vilabella, Lucía (2010). Evaluación de un proyecto de inversión en entornos de certeza, riesgo e incertidumbre. . Editorial Reprografía del Noroeste, A Coruña
Pindado García, J. (2012). Finanzas Empresariales.. Madrid: Paraninfo
Doldán, F. (2003). Métodos cuantitativos de selección de inversiones. . Santiago: Tórculo


Recommendations
Subjects that it is recommended to have taken before
Análise das Operacións Financeiras/611G02004
Estatística I/611G02006
Matemáticas II/611G02010
Contabilidade Financeira I/611G02013

Subjects that are recommended to be taken simultaneously

Subjects that continue the syllabus
Teoría do Financiamento/611G02021
Planificación Financeira/611G02034

Other comments

The only electronic device allowed in classrooms (except, obviuously, when IT are ussed) is non-programmable scientific calculator.


(*)The teaching guide is the document in which the URV publishes the information about all its courses. It is a public document and cannot be modified. Only in exceptional cases can it be revised by the competent agent or duly revised so that it is in line with current legislation.