1.1 Introduction - Why Finance
Summary
TLDRDieses kostenlose Online-Kurs 'Einführung in Finanzen' betont, dass Finanzen das Studium des Wertes ist und nicht nur um Geld geht. Es deckt Themen wie den Zeitwert des Geldes, Entscheidungskriterien, Finanzierungsarten und Risiko ab. Der Dozent betont die Notwendigkeit, den Wert zu verstehen, unabhängig von Geld, und verwendet Finanztools, um Entscheidungen zu treffen. Der Kurs ist in 10 Wochen gegliedert, mit wöchentlichen Aufgaben und einem Fokus auf das Zusammenspiel von Zeit und Unsicherheit.
Takeaways
- 📚 Finance befasst sich mit dem Konzept des Wertes, nicht nur mit Geld.
- 💡 Die Grundlagen der Finanzwissenschaft sind Zeit und Unsicherheit.
- 💰 Geld ist lediglich ein Werkzeug, das für die Bewertung verwendet wird, aber der Fokus liegt auf dem Wert.
- 🕒 Der Kurs behandelt den Zeitwert des Geldes und die Entscheidungsfindung über 10 Wochen.
- 📊 Es gibt zwei Hauptmethoden, Ideen zu finanzieren: durch Anleihen und Aktien.
- 🎯 Der Kurs zielt darauf ab, praktische Entscheidungen zu treffen, sowohl auf persönlicher als auch auf geschäftlicher Ebene.
- 🤓 Der Kurs ist sehr anwendungsbezogen und verwendet Excel sowie reale Beispiele.
- 📖 Die Videos sind das Hauptlernmittel, begleitet von minimalen Notizen und Lehrbüchern.
- 👥 Peer-to-Peer-Lernen ist entscheidend, da die Interaktion mit Lehrkräften eingeschränkt ist.
- 🎓 Lernen passiert, wenn man glücklich und motiviert ist, und es ist die Verantwortung des Lernenden, aktiv zu sein.
Q & A
Was ist das Hauptthema des Kurses 'Einführung in Finanzen'?
-Das Hauptthema des Kurses ist der Wert, und zwar nicht nur Geld, sondern ein grundlegendes Verständnis von Wert, das auf Zeit und Unsicherheit beruht.
Warum ist der Wert ein wichtiger Begriff im Finanzwesen?
-Der Wert ist ein Schlüsselbegriff, weil er zentral für den Wertschöpfungprozess ist, der aus zwei Hauptkomponenten besteht: Zeit und Unsicherheit.
Was verspricht der Dozent für den Kurs 'Einführung in Finanzen'?
-Der Dozent verspricht, dass der Kurs kostenlos, online verfügbar ist und sich auf das Verständnis von Wert konzentriert, anstatt nur auf Geld.
Wie plant der Dozent, das Thema Unsicherheit im Kurs zu behandeln?
-Der Dozent plant, zunächst die Zeit unabhängig von der Unsicherheit zu behandeln und dann die Komplexität, die durch Unsicherheit entsteht, schrittweise einzuführen.
Was sind die drei Elemente, auf die der Dozent im Kurs Wert legt?
-Die drei Elemente sind das Verständnis von Zeit und Unsicherheit im Wertschöpfungsprozess, die Anwendung des Finanzierungsframeworks auf verschiedene Arten von Vermögenswerten und die Betonung des Denkens anstatt der Werkzeuge.
Wie lange dauert der Kurs 'Einführung in Finanzen'?
-Der Kurs dauert 10 Wochen und deckt verschiedene Finanzthemen wie den Zeitwert des Geldes, Entscheidungskriterien, Finanzierungsarten und Risiko ab.
Welche Methoden werden im Kurs verwendet, um das Lernen zu fördern?
-Der Kurs nutzt Videos, Textbücher, minimale Notizen und setzt auf die Interaktion zwischen den Teilnehmern, um das Lernen zu fördern.
Wie oft gibt es Aufgaben im Kurs?
-Es gibt wöchentliche Aufgaben, die den Lernenden die Anwendung des Gelernten auf reale Probleme ermöglichen.
Wie sieht die Rolle des Dozenten im Kurs aus?
-Die Rolle des Dozenten ist es, die Schönheit des Finanzwesen zu zeigen und die Teilnehmer zu motivieren, das Fach zu erlernen, ohne sie zu 'überfüttern'.
Was erwartet der Dozent von den Teilnehmern hinsichtlich des Lernprozesses?
-Der Dozent erwartet, dass die Teilnehmer die Verantwortung für ihr eigenes Lernen übernehmen, aktiv an dem Kurs teilnehmen und sich selbst ausforschen.
Wie viel Zeit sollte ein Teilnehmer pro Woche dem Kurs widmen?
-Es wird erwartet, dass ein Teilnehmer etwa fünf bis zehn Stunden pro Woche dem Kurs widmet, um die Lernziele zu erreichen.
Outlines
💼 Einführung in die Finanzen
Der Dozent begrüßt die Teilnehmer und kündigt den Start des Finanz-Kurses an, der kostenlos und online verfügbar ist. Er betont, dass Finanzen das Studium des Wertes ist und zwar nicht nur des Geldes, sondern eines grundlegenden Verständnisses des Wertes. Der Kurs wird sich mit Wertschöpfung auseinandersetzen, die aus zwei Hauptbestandteilen besteht: Zeit und Unsicherheit. Der Fokus wird darauf gelegt, diese Komponenten zu verstehen und die Komplexitäten, die durch die Kombination aus Zeit und Unsicherheit entstehen. Der Dozent betont, dass der Kurs auch auf andere Arten von Werten als nur Geld ausgerichtet ist und dass Finanzen eine Denkweise und ein Werkzeugkasten ist, der sowohl anwendbar als auch anziehend ist.
📚 Lehrplan und Kursstruktur
Der Lehrplan des 10-wöchigen Kurses wird kurz vorgestellt, wobei die ersten zwei Wochen dem Zeitwert des Geldes gewidmet sind. Es folgen zwei Wochen, in denen Entscheidungskriterien und Finanzierungsmethoden behandelt werden, einschließlich Bonds und Aktien. Zwei Wochen sind der Risiko- und Unsicherheitsbewertung gewidmet, gefolgt von einer Woche, in der alles zusammengefasst wird, und einer letzten Woche zum Review und zur Klausur. Der Dozent betont die Bedeutung des sogenannten synchronously Kurses, der es ermöglicht, den Stoff Schritt für Schritt zu erlernen und zu verarbeiten. Die Hauptmethode der Verteilung ist die Verwendung von Videos, die in kleine, verständliche Teile aufgeteilt sind, und ergänzt durch Textbücher und minimale Notizen.
🤝 Interaktion und Lernprozess
Der Dozent betont die Bedeutung der Interaktion zwischen den Teilnehmern, da sie ein wichtiger Bestandteil des Lernprozesses ist. Er stellt klar, dass die Rolle des Lehrers eher die eines Anführers ist, der die Schönheit der Finanzen zeigt und die Teilnehmer motiviert, statt sie zu überwachen oder zu füttern. Der Fokus liegt auf der Selbstständigkeit des Lernens und der Verantwortung des Schülers, der aktiv in den Online-Kurs involviert sein sollte, um seine Neugier zu befriedigen und sich selbst zu verbessern. Der Dozent betont, dass das Lernen ein kollektives Üben ist, aber die Arbeit individuell geleistet werden muss.
💡 Philosophie des Lernens
Der Dozent erklärt seine Philosophie des Lernens, wonach Lernen im Einklang mit dem individuellen Bedürfnis und der Motivation stattfinden sollte. Er kritisiert die traditionelle Vorstellung von Lernen in festen Zeitblöcken und betont stattdessen die Bedeutung der Selbstständigkeit und Eigenverantwortung. Der Lehrer sieht sich selbst als einen Coach, der die Teilnehmer herausfordert und ihnen hilft, das Beste aus sich herauszuholen, anstatt sie zu füttern. Der Schüler ist der Mittelpunkt des Lernens und trägt die Verantwortung, das Wissen aktiv zu erlangen. Der Dozent betont, dass das Lernen eine disziplinierte Angelegenheit ist und dass die Teilnehmer 5 bis 10 Stunden pro Woche investieren sollten, um am Ende des Kurses gut vorbereitet zu sein.
Mindmap
Keywords
💡Finanzwesen
💡Wert
💡Zeit
💡Unsicherheit
💡Wertschöpfung
💡Geld
💡Rahmenwerk
💡Bewertung
💡Zeitschlüssel
💡Entscheidungskriterien
💡Finanzierung
Highlights
Introduction to Finance class is launching, it's free and online.
Finance is the study of value, not just money.
Value creation involves two key components: time and uncertainty.
Time and uncertainty make understanding value more complex.
The class will focus on understanding time and its implications for value.
Uncertainty will be introduced later in the class.
Almost anything can be valued using the finance framework.
Value doesn't necessarily come from money alone.
Finance is both an art and a science, with a focus on the way of thinking.
Technology like Excel is a tool, but the way of thinking is emphasized.
Finance is applicable to all decisions, both personal and professional.
The class is a 10-week course with a syllabus available on the website.
The syllabus includes topics like time value of money, decision criteria, financing, and risk.
The class will be synchronous, running one week at a time.
Videos will be the main method of delivery, with flexibility for students.
Supporting materials include textbooks and minimal notes.
Assignments will be given weekly to apply the learned concepts.
Interaction among peers is encouraged for learning.
The teacher's role is to show the beauty of finance and motivate learning.
The student is the center of learning and has the responsibility to learn.
Learning should happen in an organic way, not in fixed time blocks.
The class requires a commitment of 5 to 10 hours a week.
While the class is free, it requires effort and discipline from the student.
Transcripts
hi hope you have had a nice summer till
now and as promised we are launching the
introduction to finance class and I'm
really happy to do this class for you
it's free it's online and we'll talk a
little bit more about that aspect of it
but first I wanted to just tell you a
little bit about finance
so why finance
turns out finance is the study of value
and value is what I believe all humans
are after there is this notion that
finance is about money but you see today
I won't talk about money too much and
the reason is because money is just a
tool and Finance is a more much more
fundamental understanding of value and I
think that's an important distinction to
make later on obviously in examples that
I'll use I will use a lot of money
language but I want you to understand
this class is not about money it's about
value and that's extremely critical to
what we are going to do value creation
is has two key components and those are
central to finance and one is time and
the other is uncertainty and the key
element of the time and uncertainty is
that just time alone is tough to
understand but when you throw in time
and uncertainty it becomes a little bit
more complicated so what we going to do
in this class is we're going to try to
understand time on it by itself a lot
what are the implications of time for
assessing value and then we layer on
what are the complexities imposed by
uncertainty and I I want you to be a
little patient in that respect because
uncertainty is always there and so you
need to kind of think through issues a
little bit carefully and not worry too
much about uncertainty till we get to it
the third element about this which I
really really like is the
almost anything can be valued using the
framework we learn and it's a way of
thinking it's it's it's pretty
remarkable that give me whatever asset
you want to value whether it's
corporation whether it's a particular
project or whether it's even human
capital what is our value and remember
even though money will be used across as
the most obvious way to value things
value doesn't come necessarily only from
money I think you know what I'm talking
about
it's a way of thinking and a set of
tools and to be honest I've I've been in
this profession for a long time and I
consider myself very fortunate to have
come across finance because I don't
think I've seen anything else that is
both the way of thinking and provides a
set of tools so it's like to me it's
both art and science and the way of
thinking has a lot of science to it a
lot of rationality to it but a lot of
art to it which is what attracted me to
it on the other hand you'll see will use
Excel will use whatever computers a
technology those tools are extremely
important but I will emphasize
throughout this class the way of
thinking rather than the set of tools
and and we will see that as we go along
most importantly I love this class I
love this topic simply because all of us
are making decisions all the time and it
is so applicable it's one aspect of
economics which is the mother discipline
which is extremely applicable so I find
that attractive because we can make
decision-making much more transparent
and much more value-based so I want you
to think about these issues as you think
about this class and if these things
really mean something to you
both at a personal and professional
level take this class and use this class
to motivate
motivate yourself to learn a little bit
about the syllabus and the content first
of all this is a 10-week class and the
syllabus is on the website so I'm not
going to go through the syllabus in
detail if there's one thing I'd ask you
to do if you haven't already done it is
get to look at the syllabus just broadly
speaking this is what we'll spend about
two weeks on what we what is called time
value of money understanding how to
value benefit and costs over time and as
I said initially we will ignore
uncertainty the next couple of weeks are
decision criteria which are largely
based on the first topic about how do
you make value enhancing decisions and I
will spend a lot of time on decisions
that are more personally motivated
because I think you'll relate to that
stuff much better than making a
corporate decision however a lot of you
berk are going to work in life and it's
good to realize that the decision
criteria are the same so it doesn't
matter what decision you're making
hopefully you're not making drawing you
know graphs and using Excel to make
personal decisions all the time that
would be a bit much but I would
recommend very strongly to keep the
framework in mind and recognize you can
always use it two weeks on the two
fundamental ways of financing any idea
or borrowing for a company or of you
investing in something and the two
securities financial securities is what
they call them are bonds and stocks and
we will spend two weeks on bonds and
stocks to understand them because it's
very critical to understanding finance
two weeks then entirely devoted to risk
and uncertainty and as I said before
till this point I'm going to stay away
from risk and uncertainty otherwise
you'll be drinking at a fire hydrant
it's it gets to be a bit much but we'll
go linearly and introduce risk and
uncertainty probably my favorite topic
in finance because it's really cool and
it can get quite complicated but we'll
keep it very simple and basic one week
putting it all together and the final
week is a review and the final exam so
so that gives you a sense of the
syllabus and I hope you do take the time
to review it in fact that's your first
homework getting of the syllabus inside
out I'm now going to move over to
another aspect of the class which is
extremely important to understand this
first video gives you a reflection of
the whole course so please spend some
time watching it so what's the process
some of the features the class will run
synchronously one week at a time and the
reason I'm doing that is I want it to be
very much like a class in real time when
as if I'm teaching you face-to-face the
couple of reasons for it one I think
what happens is lot of learning online
occurs among yourselves so I'll talk
about my role in a second here and your
role but I think it's very important to
keep it synchronous the second reason I
think is equally important and that is
you need time for things to assimilate
this is going to be a challenging class
simply for two reasons one I'm giving
you a framework - the framework will be
used over and over to apply it to real
general problems the real-world problems
will be simplified a little bit but
they'll retain most of their real-world
features so you you need time to do that
learning you cannot just watch a video
and say I got it if you got it that
pretty cool but I think practices mix
what makes things perfect the main
method of delivery is going to be videos
and I want to talk a little bit about
this
I want the videos to be the main
resource that you will have I will do my
best to make things meaningful to you to
make them exciting and break them up
into pieces that you can watch one at a
time even with the within one week
so that you are you have the comfort
level to understand things in bite-sized
pieces however the good news is you can
stop watching anytime you can restart
anytime so you take care of that
flexibility use it as you go along what
are the supporting materials I'll give
you a list of textbooks and they'll be
listed in the syllabus they are and the
relevant chapters are highlighted
according to the sessions I'm doing so
there are 10 sessions 10 weeks worth of
video and match the textbooks with the
relevant chapters and that's how we
manage the supporting materials there
will be some minimal notes I'll provide
you like the syllabus some formulas some
ways of doing Excel and so and so forth
but I do not want you to focus too much
on materials that I give you I think
that that can go across a spoon-feeding
and so on so forth I want you to learn
on your own and I think that's part of
what this class is all about assessments
I'll have assignments every week and
that fits in with the philosophy of the
class it's a it's a really cool topic
and the cool Ness comes from the fact
that it's so applicable so what I'm
going to do is I'm going to give you
assignments and you will be required to
submit them and all grading will be done
via computers final point which I have
been told repeatedly by people who have
experimented with this and I've done
long distance teaching too what's
extremely important given that you're
not physically in a classroom together
is the interaction among yourselves so
that's very important peer to peer
learning and you have to recognize that
the class is so big and you're all over
the world that the interaction between
faculty or teaching assistants cannot be
part of the class otherwise you know
it'll it'll become not manageable for
people so I want you to recognize that
last point so the process is as
important as any other aspect of and
tell me what this class is all about and
hope that helped I'm now going to go to
my favorite topic and which is what is
the philosophy of this class and why did
I choose to do it why do I teach so the
first is how does learning happen and
I'm gonna give you examples of what the
real world thinks how learning happens I
think most of the time learning happens
in 12 blocks people sit quietly in a
room and one guy does the talking or one
woman does the talking I really don't
think that's how learning really happens
in the world learning happens when
you're happy you want to listen you want
to listen to not just the person in
front of you like me you want to listen
to yourself and I think that's such a
key important aspect of life I have
never learned anything unless I had
wanted to learn it and I've unless I'm
happy so the good news is this is one of
the strengths of online is that you when
you are happy do this with your watching
when you're open when your mind is ready
to take it you start off one day and the
coffee hasn't kicked in stop the video
watch it when it's meaningful to you I
think that's extremely important you are
the center of the learning and learning
happens when you're relaxed you're happy
and you want to learn the second where
does learning happen and this is kind of
related to the first issue learning
happens still and very structured
two-hour time blocks who the heck came
up with that idea I don't know but we
kind of follow it as if you know that's
the best thing invented by humanity
that's a bunch of garbage learning
happens hopefully in its own organic way
and this is where again I think the
online class allows you that flexibility
you don't have to come to class you
don't have to sit in front of with 40
people there's a downside to that or
hundred people you're learning by
yourself and taking advantage of the
peers in your large group of
students that you that are learning with
you so what's the role of the teacher
and the faculty and that's me in this
case I think I have taught since 1985
I've taught before that too but from
1985 till now I've been at the Ross
School of Business have travel taught at
other places I see my role largely as
someone who so shows you the beauty of
Finance who shows you and motivates you
as to why you would want to learn this
cool subject my role is not to
spoon-feed you because I think it's not
empowering you so if you want to consume
and just want to learn buy through
consumption and watching and just input
that's not what my role is I'll do my
best in the videos to show you the
beauty of Finance but I won't hold your
hand because I feel the faculty members
a coach is not a person who spoon feeds
but the first person who actually
challenges you to be the best you can be
related to that this class will be about
why things work the way they do I will
as I said it's very applied I will do
introduced formulas through examples
rather than the other way around most of
the time there's a lot of math and so on
so forth a lot of structure but I'm much
more interested in you understanding why
things work the way they do the
difference between people who are
successful in life and I don't mean
money again I mean just successful and
happy and the difference between people
who struggle in life is the fact is the
difference that some of us understand
the why things work idea so it's like if
you understand why things work the way
they do and do you recognize the beauty
of Finance that it's a framework it's
not something that you have to memorize
it's not something you google if you
know the why of things and that's what
finances are
you'll never have to go back to your
notes worry about googling stuff and so
on you can start from scratch and tackle
any problem you want to what is the role
of the student I think it's becoming
pretty obvious what your role is but I
want to reiterate it I think if you are
in the mode of I'm going to sit there
and just consume I would say that's not
the role of the student the student is
the center of learning and I think
therefore with the being in the center
comes the responsibility to learn and I
think it's extremely important that you
grab this responsibility and remember
people are worried about online teaching
and how they'll be cheating how there's
no myth there's no involvement directly
and watching of what's going on by the
faculty or the administrators I'm not
worried about that because I think you
have Jiminy Cricket I mean if you've
watched Pinocchio whenever he lied
you know Jiminy Cricket well this
conscious his nose grew longer um you
are your best Jiminy Cricket I mean I
can do all the watching I want in my
class but I think if you know you're
crossing a line that's all you need to
know right and so your model compass is
better than anything I can give you and
I tell you learn learn on your own
learning is a collective exercise but
you do the work on your own and that's
how you learn
that's how you'll develop and I
encourage you to take a very active role
especially in the online class in going
and satisfying your curiosity and trying
to do things that you've always wanted
to do who is ultimately responsible for
learning so the answers at the I hope
you know where now the answers you and I
am just a facilitator and I just dream
of making learning happen for you in any
way I can help except I won't spoon-feed
I will challenge you and I will
hopefully make you learn
that process devote about five to ten
hours a week and this I'm putting under
philosophy simply because I want to
emphasize that while online learning
makes things very easy for you you can
learn at your own time and you're happy
and so on it also imposes a certain
discipline on you and I think if you
keep five to ten hours a week every week
by the end of the class you won't need
to study for the final that's the cool
thing about Finance so is the class
really free mmm I don't think so and
this goes back to the point of money
Association of money and cost or benefit
I think you should think of the effort
you've put it so the class is for free
in the sense you're not paying money but
I'm gonna make you a card and so so in
fact harder than if you were sitting in
my classroom and if you're willing to do
that the class is obviously not free
class requires effort and effort it will
be pretty deep and hard for you I'm
challenging you I'm not discouraging you
but I want you to know you'll do the
learning and I will be the facilitator
and we'll have fun together
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