October 2017 by Lazy Faire

OCTOBER 2017

SHOW ME THE MONEY Piggy Bankers How to Spot Counterfeit Money Navigating the World of Personal Finance

CHRIS MEGRAW Making the Most Out of Time, Value, and Taking Risks

ALSO Interviewing the New Associate Dean Dr. Andras Marosi

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october 2017

CONTENTS 7

SOCIAL STUDIES Finance 101 : Loans & Savings

FASHION Transitioning into Fall

FYI Jobs on Campus

editorâ&#x20AC;&#x2122;s note

meet the team

counterfeit money: spot the

THOUGHT VS. THOUGHT Reading Week : Studying or Travelling

STUDENT SPOTLIGHT Chris Megraw

EXTERNAL RELATIONS Mack Carson

16 20

how much does a business degree cost around the

Piggy Bankers

world?

lf reviews lazy chat Dr. Andras Marosi

CLUBS corner

Starbucks Drinks 23

differences

halloween costumes for different majors cover designed by FATIMA MOHAMED cover photographed by RENEE YU

EDITOR’S NOTE Nothing says October like falling leaves, unpredictable weather and low $$$ in your bank account. Between the cost of tuition, textbooks, and other expenses like food, clothing, and rent, there’s no surprise most of us are #HellaBroke. We at Lazy Faire Magazine are here to help! This month’s theme is Show Me the Money, and it delves into all aspects of money including the importance of personal finance. As you flip through the pages of this issue, you’ll definitely find something you can relate to whether you are an aspiring financial advisor or you’re just looking into becoming more financially literate.

In today’s society, money is rooted in almost everything we do and as adults it’s an inevitable part of living life. Luckily, as business students we are exposed to the world of finance early on, through FIN 301, and although I’m never going to pursue a career in finance, I’m very appreciative of the concepts that I’ve learnt. Do I remember how to calculate the price of a call option? No, but I sure do know how interest rates and stocks work, so I’d consider that a win.

FATIMA FARAH MOHAMED Editor-in-Chief

CONTRIBUTORS editor-in-chief

fatima mohamed

vp editorial

victoria chiu rodvie barnachea

writers

rahique um maktoom handoo meghan markowski lindsay rainbow elizabeth jun francesca dela cruz makena kigunda delicia goh michael mytrunec

art director

joanna faddoul

designers

richard bagan betty vo marina bryan elysse peralta

photographers

renee yu dylan wee giselle wong richard chen

vp communications

haya masri

communications director

richard chen

multimedia director

richard bagan

events director

wajiha islam

vp external

elizabeth jun

#suitslf director

giselle wong

sponsored by

xerox canada priority printing

special thanks to

diana wyley business alumni association

uofalazyfaire@gmail.com www.lazyfaire.com

Meet the Team

Lindsay Rainbow

Writer

Lindsay Rainbow is a fifth year student, studying Business Economics and Law, with a minor in Strategic Management and Organization. She has written for LazyFaire for the past 3 years. Through working with LazyFaire, Lindsay has been able to grow and develop her skills in other areas, like graphic design, and now it’s one of her favourite hobbies. Her other hobbies include Netflix, as well as breakfast, lunch, and dinner.

Giselle Wong

#suitsLF Director

Hi! I’m Giselle and I’m the SuitsLF director this year. I’m heading into my last semester with a major in accounting. My favourite thing to do is count beans. Fun fact: my friends adopted an orca for me last Christmas.

Michael Mytrunec Writer

Hi, I’m Michael, I’m an Accounting Major and a writer for Lazy Faire. I enjoy writing because it is a nice break from my studies that in no way, shape, or form involves Microsoft Excel. Before I graduate I am hoping to take a nap in every building on campus and taste all of the coffee that the U of A has to offer! 6

SOCIAL STUDIES

written by LINDSAY RAINBOW designed by FATIMA MOHAMED

FINANCE 101 : LOANS & SAVINGS “Money money money, must be funny, in a black hole. rich man’s world.” – ABBA Student Loans: These are very common Let’s face it. Being a student means being among students, and not necessarily a bad bogged down with tuition costs, bills, and thing. You’re getting an education. They’re loans. Most of the time, you’re not even expensive (can you hear me ASoB???), and thinking about savings. Spare change that’s you’re broke. That’s why the government found in the couch isn’t going towards (both provincial and federal) gives these retirement. It’s going towards a well- things away like candy. Candy in the form of deserved splurge on pizza, because it’s low interest rates, repayment flexibility, and Friday night, and if you eat ramen again the ability to set you up for future career and this week you might die. Despite all this, earning success! #beckywiththegooddebt it’s still important to know the basics. One day, people are going to believe you’re a real Mortgages: These are another kind of good adult (if they don’t already). You don’t want debt (hello investment!); most homeowners to look silly when your bank asks you about have these! Homes/properties are expensive, setting up a TFSA and you respond, “TSA? and the banks want to help you out – for a I thought that was only at airports?” I’ll price. They’ll buy your house, and you can teach you the cool acronyms to boost your pay them back with interest at a fixed or savings game, I promise. variable rate. But don’t worry if your rate isn’t great – every few years you’ll get a chance to General Savings Rules: shop around for a better deal. 1. Set aside 10% of your income for savings. Have your bank do this Savings and Investment automatically for you. 2. First things first: create an emergency GIC: Guaranteed Investment Certificate fund. Start with $1000, in case you get • Risk level: none laid off, your car breaks down, or for • Offers: a guaranteed rate of return (usually low) over a fixed period of time when your psychotic roommate ensures • Limitations: your money is locked in that you’ll never get back your security for the length of the term deposit. • Requirements: minimum investment of $500 Loans and Debt • Benefit: zero effort from you, and it’s Credit Card Debt: The most common form the only sure thing you’re going to get of debt in Canada. This is bad debt! It has from a bank ridiculously high interest rates, signifies you’re spending beyond your means, and TFSA: Tax-Free Savings Account wrecks your credit score. It basically means • Risk level: low to medium depending that you’ll get the worst interest rates on on how you choose to invest future loans or financing down the road. Pay • Offers: an investment medium that your bills in full and on time to avoid this allows you to withdraw your money

•

whenever you want. The bank will invest on your behalf, or you can do it yourself if you’re feeling like Jordan Belfort (minus the shadiness and fraud) Limitations: you can only contribute $5500 for every year starting when you turn 18, but it’s cumulative. So any unused contribution room in a year, will roll over to the following years and can be added whenever you want (also works retroactively!) Requirements: you cannot deposit money that you already withdrew that year, unless you have additional contribution room Benefits: you don’t pay taxes on the earnings from your TFSA (interest, dividends, capital gains)

RRSP: Registered Retirement Savings Plan • Risk level: low to medium depending on how you choose to invest • Offers: similar investment medium to a TFSA, can be used for retirement, buying your first home, or other savings goals • Limitations: max contribution limit of 18% of your income to a cap of $26,010 • Requirements: only pay tax on your contributions when you retire or choose to withdraw the money (so it’s better to let it sit there until you’re ready) • Benefits: contributions are taxdeductible, and unused contribution room rolls over between years, like with a TFSA Visit moneymentors.ca for more tips! TFSA: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ tfsa-celi/cntrbtn-eng.html RRSP: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ rrsp-reer/rrsps-eng.html

FASHION

Transitioning into fall

Summer’s over and school’s here! Yes, it might be bittersweet to be back in school but atleast you can wear fly AF outfits comfortably now instead of having to only wear work clothes or feel way too hot in whatever you wear.

Here are some of the outfits that make up my fall wardrobe:

CHUNKY SWEATERS

white demin

Part of the official uniform of university students, a chunky sweater is a classic in fall. They’re perfect for that late night in the library. On warmer fall days, you can pair them with your summer shorts for a streetwear look.

You know the fashion rule “don’t wear white after labour day?” Forget that! Don’t let your summer white jeans sit in your closet, just pair them with a chunky sweater and you’re good to go! If you don’t want the white to stand out, try keeping the entire outfit palette light instead of bright colors that’ll bring out the white.

Culottes The comfort and chicness of culottes is too perfect a recipe to only wear in the summer. A high neck (another trend of the season!) will take your culottes from summer to fall!

RED The color of the season, red is in my wardrobe this fall because it’s just a gorgeous bold color. My favourite time of this season is when the leaves turn red so why not embody that completely? If you want to follow this trend but are iffy about having a whole red outfit, try red accessories! 8

written by RAHIQUE UM MAKTOOM HANDOO designed by BETTY VO

Bejewelled collars Having jewels and embroidery on shirt collars is taking over display windows everywhere. I love the beauty of these colors but with my recent purchase of textbooks, I really shouldn’t be buying new shirts just for their collars. Instead, I found a better option. A collar-style necklace! This is the perfect way to take the same outfit from night to day without any hassle!

Jobs on Campus

FYI

written by FRANCESCA DELA CRUZ designed by MARINA BRYAN

As university students, our expenses keep piling up: paying for our tuition fees, daily meals, lodging, extracurricular activities, and all the in-betweens. Of course, the solution to making ends meet and having enough cash for your other expenses is to get a job while studying, but not everyone has the time or the energy to commute. If you want the time to be able to study and catch your classes, get valuable job experience, make some money and cut the time you’d use getting to work, considering a job on campus might be a great move for you. Here are a few places on campus that you can apply to: Try checking out the Students’ Union for job postings. They have both full-time and student positions depending on your schedule. Some positions include Student Events Coordinator, InfoLink Senior Peer Advisor, Leadership & Recognition Coordinator, and Safewalk Specialist. For more information: http://www.su.ualberta.ca/

Is the library your second home? Do you just love being surrounded by books, a sense of calmness, and quiet space as you do your work? Head over to the University of Alberta libraries and inquire about their openings. Check their website below for future openings, fill out an application, and send it to library.personnel@ualberta.ca. http://www.library.ualberta.ca/about-us/employment Residence Services is currently hiring for Resident Assistants to provide quality services to the student community. These range from assisting students who need help to organizing fun activities to helping get resident students get involved. Submit your cover letter and resume to David Jennings at dmjennin@ualberta.ca with the subject heading “Pinecrest House RA Position.” For more information: http://www.residence.ualberta.ca/current-residents/jobs-in-residence/ There are various coffee shops around the school as well are often hiring on a rolling basis. Being a barista is one of the most amazing experiences I had while going to school—yes to coffee perks! Anything that involves coffee and pastries? Sign me up.

There are plenty of job opportunities on campus. The Career Center also posts jobs regularly, so keep an eye out for openings. Ask friends and classmates for suggestions, too. Some job openings are not advertised online, so 9 consider directly asking the places you are interested in working for if they’re hiring. Happy job hunting!

THOUGHT VS. THOUGHT

Studying During Reading Week written by MICHAEL MYTRUNEC

Read? During reading week? Honestly, I would recommend it. The underlying reason that one should spend reading week studying, can be boiled down to this: boredom is temporary, but GPA is forever. If the opportunity cost of spending reading week studying is forgoing a chance to travel, then it is a choice between a temporary, short-lived, release, and a permanent accolade. Yes, travelling can create irreplaceable memories and experiences, but the timeline for creating these types of memories exists far beyond one’s university career. The timeline for creating, maintaining, and enhancing one’s academic success is finite, and should be acted upon while the opportunity still exists. Reasons for studying during reading week go beyond one’s grades and extend into the realm of well-being. The week long break that students receive each semester, was actually implemented as a way to relieve stress and, simply put, studying is less stressful. It’s counterintuitive - but correct. Going on an escape does not escape you from your commitments. By travelling during reading week you may not be relieving academic stress, but rather, deferring it. Like interest, stress and to-do lists compound upon themselves and cascade into the absence of action. If you are unable to escape this stress when you travel, then your trip may be plagued by feelings of guilt that stem from not using your time productively. If you do escape this stress, it will be awaiting for your return. The end of my most recent reading week was met by multiple midterms. Had I been absent most of the week, I would have had to digest more material in a shorter amount of time in order to keep my head above water. Additionally, the very process of travelling can be stressful. Have you ever lost your bag? Gotten sick? Forgotten something important? Travelling can be stressful, because it involves exchanging control and familiarity for the excitement of exiting your comfort zone. The problem is that it can be, unsurprisingly, uncomfortable. Travelling is a commitment whereas studying is only a decision. When you travel there are planes to catch, places to see, and a general commitment to getting from Point A to Point B within a certain timeframe. When you study, everything is your own. You can make plans on a whim and abandon them just as easily. You can select the location and environment, and take breaks and change plans as required. The lack of stress and ease of familiarity can be enough justification to relax inside your comfort zone. As a final point, let’s talk money. A common complaint aired by students is that there are not enough hours in a day, but only because it goes without saying that there are not enough dollars in their bank accounts. Travel may be priceless but it will be pricey. For those on limited budgets, it may be wiser to allocate this money towards necessities. For those fortunate enough to have spending money, it’s colder during Christmas break, so book your trip then.

“To read, or not to read?” This is the question that every university student ponders as reading week approaches and the course loads become heavier and more complicated. My two cents? Forget about it. Instead, take the time that hath been graciously given unto you by the university, and TRAVEL!! One of the most common arguments against travelling during reading week, is that it was established to provide students the time to “read” and catch up on their studies. While this is an option (and preferably just that), do you want to spend your one week off sitting in your room or the library with your nose stuck in a textbook? NO. My colleague, Michael, would argue that, while the relief from boredom that travelling may offer is temporary, your “GPA is forever.” I disagree. Studying during this week might help you finish an assignment earlier than expected, but I doubt it will positively and dramatically affect more than a letter grade in a couple of classes. Your mental health however, now that’s forever. Often, the basis for travel lies outside the boundaries of boredom, and within the realm of creating a new environment for your physical and mental health to be immersed in the means of refreshment. I believe the benefits of taking the week, or even a couple of days, to travel and get your mind off of school, outweigh the benefits of getting ahead in your studies - which inevitably comes with the potential of crashing and burning. Obviously, if there are time-sensitive projects or problems that need solving, address them! I’m not trying to convince you to abandon all rhyme and reason by fleeing for vacation, but instead to plan ahead so you can afford to give yourself the R&R that you deserve. The last main point of disagreement lies, understandably, in the issue of money. Yes, we’re all aware of the pain of tuition, student loans, textbooks, and the much-needed coffee budget. I have two points regarding this topic. First, with some planning and smart decision-making, travelling can be a lowbudget expense! No one says you have to stay in a boujee hotel and book first-class tickets to Destination X. Instead, you can simply take a road trip, visit some friends, or go for a hike! Second, I am a firm believer in the #TREATYOSELF mentality. Because if not now, when? Take advantage of your reading week to travel, and explore further than your textbooks. Do it for you. Do it for your mental health. It’s what this doctor’s ordering!** **Disclaimer: this article does not contain legitimate medical advice. Not a real doctor.

Travelling During Reading Week

written by ELIZABETH JUN

STUDENT SPOTLIGHT

written by RODVIE BARNACHEA designed by FATIMA MOHAMED photographed by RENEE YU

Chris Megraw

“Time” is something that Chris Megraw has made his own. He’s an individual that doesn’t wait for things to happen, and acts when he believes there is a need for something to be done. He’s a busy co-op student with a major in finance and minor in accounting—his course selection essentially warrants a double major. Chris is a member of eCLUB, the ICA, and cofounder and co-chair of the Alberta Student Consulting Group. This month, Lazy Faire had the was going to be an investment banker opportunity to interview Chris before and take “this” route and do “that” and he chose his next endeavour. that is how I’m going to get “this.” Having a plan is great, but I believe At what point did you decide to be a people must be open to change and to finance major and why? suggestions. I’ve already switched [from my previous path] to wanting to get In the eleventh and twelfth grade, we my CPA after graduation. I’ve looked had a stock market competition in high into more entrepreneurial aspects. I’ve school. I fell in love with the market never thought about going into an and realized finance was the way to incubator or working at all through get involved. Over the next couple of eHUB or entrepreneurship while I was years, I looked at it and saw things like at school, and just wanted to focus on portfolio management financial advisor, the accounting side of things. But now, financial planning, and investment things have changed. banking—I loved the ability to better follow the markets because finance Aside from being a finance major, is what makes the world go around. some of your interests seem to be Everything revolves around money, leaning towards consulting and whether people like it or not. To be able entrepreneurship. Where do you see the to understand how that works, and be overlap? a prominent member in the finance community, is important to me. With venture capitalism and private equity, those are two very quick growing Which specific industries within finance financial fields that both directly are you most interested in? deal with consulting, strategy and implementation, and entrepreneurship. I was looking at investment banking, but Venture capitalists work closely with it’s a big commitment. I’m interested in startups to help them expand by funding mergers and acquisitions, and I always them. Private equity firms often consult keep up to date with which company the businesses that they buy. But I don’t is acquiring whom, who’s merging, etc. think people should only understand Private equity and venture capitalism the finance or only the strategy. It’s is my primary focus in finance, and it’s a lot better to know about at least a where I want to end up. Private equity little about every aspect. Finance is involves anywhere from the acquisition a lot harder to understand outside of of an entire company to consulting, school because it’s so technical. I chose managing, and scaling the operations of finance and accounting in school, and the company that they buy. everything else can be practiced through soft skills and extracurriculars. You’re very engaged with the idea of innovation, most notably as being You are co-chair and co-founder of the a member of eCLUB and your Alberta Student Consulting Group. project with professors to create an What did you decide to create the entrepreneurship course. What has your group? involvement taught you about planning for the future? It started with BUS 201 with a VR startup called In-Home. I couldn’t Innovation is about being open to find any quotes even though I looked change consistently, and looking at across the country, so it failed. Then I newer and better ways of doing things. was looking for something that could In terms of planning for the future, I provide value to myself and allow me to

learn and grow my skills. I also wanted to have a lasting impact on the university, which has been something that’s very important to me. I noticed how many issues there were and how isolated it was. For example, when I wasn’t able to find a computer science student [for In-Home], I realized how much the [Alberta] School of Business doesn’t talk to faculties like Arts or Science. I then searched for what I could do that wouldn’t require a specialized skill, and I looked at the case competitions I’ve done, so I had some experience with solving business problems. I decided to create the group to break down those barriers within the university. By making it interdisciplinary, we’re able to have an engineering student on our executive team. I also didn’t find anything within the university that satisfied the want I had—the clubs and organizations that I could have been a part of weren’t of particular interest to me. I wanted to create something of my own, and create something that reflected the values and cultures that I wanted. At such a young age you’ve already been investing in the stock market and created your own startups such as ASCG and In-Home. How has risk been something that you’ve overcome? I like risk. I’m not risk-averse. I like high-risk and return with investing— that’s how I am. As a student, this is the best time to take a risk. You don’t have retirement coming up in a few years, and you likely don’t have children who you need to save up for. You have your entire career to build a certain amount of wealth or skills. I try to minimize risk as much as I can. Sometimes it can just be about watching where you step and watching what you say. The biggest thing is just taking a risk. Sometimes you just have to not worry about minimizing it and just take it and see where you land. 13

EXTERNAL RELATIONS

Mack Carson “Play to your strengths.” To Mack Carson, his ambition for growth is not bounded by any limitations. In 2016, Mack graduated from the Alberta School of Business, and found immediate success in the finance and real estate fields through Canada ICI. As well, he is a prospective entrepreneur who continuously seeks to optimize his strengths, while helping others realize theirs’. This month, Lazy Faire had the opportunity to further explore the underlying foundation of his success.

Did you always want to be in the finance/real estate field? What guided you towards this path?

So you’ve mentioned that you’d like to venture into entrepreneurship in the future. How would you describe your vision for this goal?

When I was in school, I did really well in physics, which is similar to finance in terms of the combination of formulas, and I ended up enjoying it. In my opinion, financing and future forecasting is the foundation of entrepreneurship; it’s the backbone of being able to prove a concept through numbers. It’s very important to evaluate and understand things, because my end goal is entrepreneurship and personal ownership. It’s just really exciting to build something from the ground up.

I’ve always been really interested in brick and mortar entrepreneurship. I really like retail business, storefronts, restaurants, and accommodations that all require a physical environment. In future years, I’d love to have a hostel brand going – like a modernized hostel that you’d see in Europe or those that are emerging in the United States. It’s similar to going to a restaurant. You can go to a restaurant chain like Applebee’s, but really there’s a growing restaurant culture in North America that’s completely based around experience. It’s something totally different, and I think the same things comes in for accommodation: especially for the millennial generation who are experienced collectors by nature. It can lend itself well for the Instagram generation who is looking to get out there and find new adventures. To have an accommodation that supports that is pretty much non-existent in Western Canada. If I can do it really well in one location, then who’s to say where it can go?

written by DELICIA GOH designed by MARINA BRYAN photographed by RICHARD CHEN 14

What were you involved with during school? And what did you find most beneficial in terms of developing professional skills? Originally, I became involved with the Heart and Stroke Foundation when I first got into the university, and I worked as an event director. When I got into business, I got into the financial literacy club, which I helped found. That was an interesting first year. I did a bit of corporate relations, found investors, and raised sponsorships. As well, I got really involved in case competitions and had the chance to travel to Hong Kong and Australia. It was an amazing experience and I would highly recommend getting involved in cases. Lastly, my last project was the Alberta International Case Competition. I was the VP Corporate Relations, and we managed to get $70,000 worth of sponsorship. I chose that stream because it ties with acquiring investors, which is the same skills you’ll Aside from working, are there any other need for entrepreneurship. You’re sharpening your own tools for your own purpose, while still being able to activities that you’re involved in? contribute to the club. I think there’s a lot of value in I’m a big outdoorsman. I’ve spent a lot of time trail that. running, mountaineering, mountain biking, and I also I was also involved in the Leadership Certificate program. raced for a while for Team Canada, originally. I just It was one of the best things I did in university – if not enjoy having experiences outside, and being with my the best. One of its greatest takeaways is the absolute friends. That’s the majority of my interests, and I do a confidence that the program gives you, especially lot of reading. since you’re in a close dynamic with professionals, government leaders, the community, and military. These You’re a recent grad and you’ve managed figures are all very well-respected and high up in their to find job opportunities immediately out organizations. When you’re in such close quarters with of school. What advice would you give to them on a regular basis as a student, you don’t have that Business Students who are just graduating or scare factor anymore. Having that confidence to have seeking a job? a regular conversation with these powerful individuals, assists in the relationships that you will have down the Don’t hold your breath by applying for jobs online. road. Being able to hear the experiences they had to Know what your value is and take the time to get into share, and being with the people that I experienced the it. The sum of your opportunities is based on your program with, was incredible. network, and it’s all about your willingness to get in front of people to ask for what you want. 15

CLUBS CORNER

PIGGY BANKERS If you’ve ever found yourself confused by the concept of mortgages, stumped about saving, or lost trying to take out your first loans, you might be deficient in a pretty important area: financial literacy. Don’t worry too much, though, because you’re in good company. Plenty of people, particularly students, are faced with a lot of difficulties when they have to manage their own money daily without outside guidance. Luckily for you, the Alberta School of Business has a club devoted to rectifying that exact issue: the Piggy Bankers Club, also known as the Financial Literacy Club. With a selection of seminars available to students looking to increase their financial fluency and an annual conference centered on incorporating the sometimes-confounding skills and concepts into one’s personal life, this club has something for everyone. Lazy Faire had the chance to sit down with the club’s current co-presidents, Sean Lee and Matt Kulak, to discuss what their club does and how they hope to positively impact the student body. Why does the Piggy Bankers Club go by two different names (Piggy Bankers and the Financial Literacy Club)? SEAN: That’s something we’re working on. Our official name is Financial Literacy Club, but we’re just known as Piggy Bankers. MATT: The “financial literacy” thing just sounds really boring, so our brand is Piggy Bankers and we are a financial literacy club. What do you tell people when they ask what your club is all about? MATT: We tell them we’re trying to provide tangible financial strategies for students that are applicable across the board that anyone across campus can utilize, like budgeting, personal credit, some beginner and intermediate investing topics, and real estate information. Really practical financial topics are what we’re trying to provide information on, and that information comes from industry professionals.

them everything that their parents should have been teaching, but never ended up doing. MATT: This includes stuff that should just be commonplace in the educational system: like things that should have been taught in Career And Life Management (CALM) class in high school.

SEAN: Right. They really should be teaching us these SEAN: Your parents know how to [manage their things in high school: things like how to budget, how finances]. My parents know how to do it. Matt’s parents to set yourself up for financial success in the future, and know how to do it. Everyone knows how to [manage how mortgages work. They should have a class on that. their money], but millennials don’t. We want to teach 16

MATT: Even for a lot of kids in university—they’ll make it to Christmas and suddenly realize all their funds are gone. We’re trying to prevent that. Our first seminar of the year is on budgeting, and we’re going to hit that nail on the head right off the bat to prevent anyone’s money from going down the tubes! How do you go about teaching people these essential skills? SEAN: We have three seminars this semester and a conference next semester. We bring in these professional employees from different firms. For our first seminar on budgeting, we’re bringing in someone from Servus Credit Union to give a presentation on how to properly budget for the school year. For our conference, we’re bringing in people like the VP Finance of PCL Construction and people from Zoocasa, which is a real

estate company. We’re bringing in real people who get paid to do this, to speak on the importance of the topic. MATT: And not just the importance of it, but also the intricacies of how to implement it in your personal finances. (The seminars) are free admission. For the conference, there’ll be a charge.

How do you decide which topics will be covered in the seminars for the year? MATT: Because we just do an hour-long session, there’s just one topic that’s covered for each seminar. [Sean and I] thought about what we had the most issues with coming into university. The seminars address the areas where we’re falling short the most coming out of high school. The first is budgeting, second is personal credit, and the third might touch on getting involved with investing. If someone were a little unsure about whether or not these seminars were right for them, what might you tell them? SEAN: It’s free, and there’s free food! MATT: Yeah! And I might say that we’re bringing in industry professionals, and there’s essentially no harm that can come from going to a seminar. It’s really low-commitment. Our whole goal was to make [the seminars] an hour long. If people can fit a fifty-minute or one hour-long session into their evening, then I think most people can work around that. They’ll get a lot of benefit from the amount of time they devote to attending our seminars.

written by VICTORIA CHIU designed by JOANNA FADDOUL

COUNTERFEIT MONEY: S P O T T H E D I FFEREN CES Have you ever questioned if the bill you received was fake? If you’re like me, then it’s never even crossed your mind to question the bills you’ve been handed. But, maybe you should. According to the Royal Canadian Mounted Police website, 17, 504 counterfeit Canadian banknotes were passed in 2016, 21% of these coming from Alberta. However, even though counterfeit is obviously still very present in our economy your chances of being stuck with a counterfeit note is almost nil if you check the security features on each bill you receive. Read on to learn tricks on how spot these security features! RCMP Website: http://www.rcmp-grc.gc.ca/count-contre/cur-moneng.htm

Polymer Notes

Touch The most obvious way to tell if a bill is counterfeit is by touch. Now that Canada has started printing new polymer bank notes it is quite easy to distinguish the polymer material from any other material. Your first step in checking for counterfeit money is making sure that the bill is made of polymer material. The bill also should have raised surfaces on it; run your fingers over the bill and if it’s real, you’ll be able to feel the bumps. The large number in the corner of each bill will be raised along with the words “Bank of Canada” and “Banque du Canada.” Tilt You can also tilt the polymer bill to see if the security features appear. The transparent window will have a metallic strip with a smaller version of the portrait that is on one side of the bill. On the metallic strip, there will also be an image of a historic Canadian building. The dollar amount of the note will be written across it’s window as well as along the frosted maple leaves that border the

window. Other generic things to look for in all polymer notes: 1. The maple leaf in the top corner of the note should have a transparent border around it. 2. Each note’s window will have the dollar amount of the note written across it. Also in each window will be the dollar amount and “Canada” written in raised letters. 3. Each note’s window will be bordered by frosted maple leaves.

Paper Notes

It’s good to remember that even though Canada is now printing its notes on polymer material, all banknotes issued by the Bank of Canada since 1935 have legal tender status and maintain their value. Touch Although cotton material is a lot harder to distinguish from polymer material, it still has a softer texture than regular paper that can help to distinguish real bills from counterfeit ones. Also, just like the polymer bill, look for a raised large number in the corner of each bill and the words “Bank of Canada” and “Banque du Canada.” Tilt If you tilt the bill, the maple leaves and number on the metallic strip should change colour as well as the dashes on the side. As you can see, spotting a counterfeit bill is easy if you know what to look for. So, now that you do know what to look for, pass it on to your friends and family and who knows...maybe we can make Alberta the province with the lowest counterfeit occurrences! written by MEGHAN MARKOWSKI designed by JOANNA FADDOUL

written by FRANCESCA DELA CRUZ designed by RICHARD BAGAN

How Much Does a Business Undergrad Degree Cost Around the World? Have you ever wondered how much it would cost to complete a business undergrad degree in other countries around the world? We’ve compiled a handy-dandy list comparing different tuition fees in various places. These are all estimated fees of a full course load for one year in a business undergrad program. Fees differ for residents, citizens, and international students. These are only base tuition fees which exclude books, supplies, and other miscellaneous additions. (All prices below are in Canadian Dollars)

University of Alberta Canada Alberta School of Business

University of California Berkeley USA Haas School of Business

University of Chester UK UK/EU Citizens $13,250 International Students $14,857

Permanent Resident/ Citizen $7,000 International Students $27,636

California residents $13,500 Out-of-state students $ 53,675

Lille Catholic University

University of Cape Town South Africa

University of Tokyo Japan

EU Students $6,500 International Students $12,500

South African Citizens $2,200 International Students $8,400

Residents and International Students $6,000

France IÉSEG School of Management

Middlesex University Dubai UAE

Ateneo de Manila University Philippines

Citizens $16,000 International Students $24,500

Residents and International Students $4,600

Fun fact: The most expensive university to attend is Switzerland’s Institut Le Rosey. Famous alumni have included Princes, Shahs, and Kings. With an annual tuition fee of $113,000, it is certainly a bargain, huh? *nervous laughter*

CHEAPEST TO MOST EXPENSIVE

Starbucks Drinks

LF REVIEWS

water

espresso shot

drip coffee

salted caramel mocha written by MAKENA KIGUNDA designed by FATIMA MOHAMED

It’s not a bad day when drinking Starbucks works its way into one of your assignments, especially now that we’ve officially entered the coffee shop’s season for pumpkin spice madness. Like the average person, I’m always down for a PSL—but those fall flavours don’t come cheap. In fact, Starbucks’ holiday beverages tend to be the most expensive items on the menu. This brings us to a common student dilemma: Should you splurge on coffee, or should you save? This month, we’re comparing the cheapest drinks to the priciest to help you find out. Here’s the criteria we’ll be using to evaluate:

Health: We’ll be comparing calorie counts, and while that doesn’t cover everything health-related, it’s an important part of the equation. Caffeine: How awake does the drink leave you feeling? (The more, the better.) Taste: A subjective factor, but here we’ll focus on flavour. Price: How affordable is it? The cheapest drink you can order from Starbucks is tap water—they’re obliged to give you this one for free. Starbucks normally throws in ice, too, which is a nice touch. So if you’re feeling dehydrated on campus, standing in those long lines for some H2O is a legitimate option. However, this technically isn’t a featured item on the Starbucks menu, so it doesn’t make the cut. The next cheapest option is a simple espresso shot. Coming in at just $1.75, this is a great option if you’re looking for a quick buzz before an upcoming exam or presentation. That said, this is a shot and not an actual drink, so that also eliminates it from our comparison.

This narrows us down to drink items on the menu, with the cheapest being regular drip coffee (blonde or dark roast). While the overall health of coffee remains to be highly debated, the 16 oz. serving comes to about five kcal and 260 mg of caffeine. In other words, you avoid drinking your calories while reaping in all the benefits of java. This only stands, though, if you skip the cream and sugar, something many of us aren’t willing to do. So how highly can we rate black coffee on taste when most of us prefer to only drink it with all the fixings? Of course, there are coffee purists out there, and if you are one, ordering that daily brew makes the most sense for your pallet and your wallet. It comes in at $2.45. The most expensive drink item is the salted caramel mocha, which comes to $5.25 for a grande. (Its equally-priced counterpart is the infamous pumpkin spice latte.) This drink essentially tastes like dessert in a cup, and the calorie count reflects that, coming in at almost tenfold the amount of black coffee (470 kcal) with two-thirds the caffeine (175 mg). So what drink should you order at your next trip to Starbucks? Should you be cost conscious, or get the best bang for your buck by ordering your preferred drink of choice? Ultimately, it depends on you and your lifestyle. If you’re for looking for something that will help you pull that allnighter, regular ol’ coffee or an espresso shot will do the trick. And after you ace the exam? Indulge in a sweet holiday drink as a delicious reward.

written by MAKENA KIGUNDA designed by BETTY VO

Halloween Costumes for Different Majors Halloween is a fascinating holiday. You have the die-hards who start pre-planning in mid-July, and the last minute crashers who throw something together the morning of October 31st. But for those of us who are in between these two extremes, Lazy Faire has got you covered. Check out these Halloween costumes ideas, one for every major in the Alberta School of Business.

Accounting Canada Revenue Agency. Because what’s scarier than that?

Business Econ & Law Judge Judy—no one wants to get on her bad side.

Management Information Systems Artificial Intelligence. This abstract concept has some scared.

Marketing Resurrected Taylor Swift from her ‘Look What You Made Me Do’ debut, because talk about a marketing ingenuine.

Business Studies Leonardo Da Vinci, because if you’re in Business Studies you aim to be a renaissance person: well rounded in all areas.

Natural Resources, Energy & the Environment

Entrepeneurship & Family Enterprise

Climate change. Enough said? How you dress up for this one is up to you.

Jason Blossom’s dead body, the perfect example of *spoiler alert* family enterprise gone wrong.

Operations Management

Finance A bull & bear. Grab a friend and sport these contrasting market trends. Or, if you can pull it off, come dressed as both!

Human Resource Management A recruiter, because let’s all be honest here: who doesn’t get nervous when they see those?

International Business Phileas Fogg from “Around the World in 80 Days,” which is similar to your international studies compiled over 4 years. Right? 22

A walking-talking, Rubik’s Cube! Because OM majors are all about finding patterns and solving problems.

Retailing and Services Kylie Jenner…and her recent nomination for Fashion Icon of the Decade has many in the industry shaking.

Strategic Management & Organization Michael Scott from “The Office” as a prime example of why we need managers with SMO backgrounds.

written by MEGHAN MARKOWSKI designed by ELYSSE PERALTA photographed by DYLAN WEE

LAZY CHAT

I S O R A M S DR. ANDRA From being a business and economics student at Janus Pannonius University of Pécs in Hungary, to becoming the Associate Dean of Undergraduates at the University of Alberta School of Business, it’s obvious that Dr. András Marosi has accomplished many things. But, speaking as a former student of his, one of the things he does best is teach. Not only is Dr. Marosi very knowledgeable in all things finance, but he’s also personable. He has no problem embracing students’ sometimes harsh reviews of finance: even making some into jokes. In fact, last Halloween he came to his lecture dressed like Darth Vader after reading a comment on rate my prof that spoke of their likeness. Sometimes, as an inside joke to himself, he’ll wear Darth Vader socks on the day of his classes’ midterms. So if you’re in one of his classes, make sure to check out his socks for your own laugh! All in all, it was a pleasure to interview Dr. Marosi. Personally, I am glad that the position of Associate Dean of Undergraduates has been filled by someone with as great a sense of humour as capability. You recently became the Undergraduate This is really unique to the Alberta Associate Dean for the School of School of Business; the involvement of Business. How has your transition been? our students sets us apart from other schools. I lived in a communist country In one way it was made really easy, during my undergraduate degree, so my because of the support that I received experience was very different. The only from the school. The Dean has been major student organization at my faculty very supportive, and the guidance from was AIESEC. But even with only one my predecessor, Elaine Geddes, has student group, I saw the huge impact been especially helpful. She met with they made. Some of my classmates me several times, allowed me to shadow are successful today because of what her, gave excellent advice, and left really they learned from their AIESEC helpful documents behind. The most internships. So, given the rich fabric of important thing that she did to help the student organizations that we have, ease my transition, was recruiting and the effect multiplies and creates many training an excellent staff who are there opportunities for success. every day to assist me. However, it’s still a learning process and has had its What advice would you give 20 year challenges. olds now? What is something that you appreciate I’m not sure if I can come up with about current business students? anything new, but you should have a need to challenge yourself and take on One thing that always amazes me, and tasks even if they seem like a tall order. something that I see much more than Also, you must be flexible. The changes I used to, is the students’ ability to driven by technology, global movement organize clubs and events on their own of people, and the coexistence of various with limited to no help from the faculty. cultures, makes things less predictable

than they used to be. Having mental flexibility and a willingness to try new things is a lot more important now. What made you want to become a finance professor? First, I grew up in a communist country where there were no financial markets as we know them in Canada. So, when communism began to crumble and the opportunity of private enterprise opened up, I found it fascinating that you could think about these issues in financial terms: rather than the government allocating where companies should invest, it is the market that decides. I decided that finance was something I needed to study more, and this gradually developed into a desire to pursue a graduate degree and then a PhD. Second, I found that finance was misunderstood to be really difficult and boring and I wanted to change this. It appealed to me that, as a professor, you have the opportunity to change these misconceptions and make finance approachable and exciting. 23

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