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FIN331 Financial Markets and Institutions Assignment #1 Calculation of Stock Market Index (Dow Jones Industrial Average) Purpose of the homework: 1. Students will learn the composition of Dow Jones Industrial Average (DJIA) 2. Students can learn how this blue-chip stock index is calculated. Assignment: This i1s an easy warm-up exercise. From the Market Lineup of the Wall Street Journal (Page C2), you can find the Dow 30 components. When you add up the net point change of the day and divide the sum by the Divisor (0.12493117 as of 10/3/2006), you should get the change in the DJIA for that day. The assignment asks you to obtain the closing prices for two consecutive days for each stock in the Dow 30. You then calculate the DJIA for each day by adding up the prices of all 30 components and dividing the sum by the Divisor. Next, you calculate the price change for each stock and add up the price changes and divide the sum by the Divisor. The result should be the change in the DJIA for these two days. You also need to collect the actual closing DJIA for these two days and compare with the result of your calculation. If time allows in class, each student will be assigned a beginning date of the two consecutive days for your exercise. Otherwise, you should choose any two consecutive days. You are advised to use the sample spreadsheet for this assignment. Information Source: You can obtain the components and historical indices of the Dow (DJIA) from the Yahoo Finance website. To get the prices of the Dow components, you should go to the summary page of the Dow (DJIA). You can find the \"Components\" on the left menu. Once you are on the component page, you can download the prices of all components to a spreadsheet by clicking on the \"Download\" button. Remember to do it after the end of market so you can get the closing prices