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Finance (FINA) Courses

Academic Unit: Finance

FINA 3001 - Finance Fundamentals
(3 cr; Prereq-ACCT 2050 or ACCT 2051 or ACCT 2051H; SCO 2550 or BA 2551 or equivalent statistics course; A-F or Audit; offered Every Fall & Spring)
Equivalent courses: FINA 3000 (inactive, ending 07-SEP-99), FINA 3001H, APEC 3501 (starting 20-JAN-15, ending 02-SEP-08)
Students will learn how competition for capital in Capital Markets establishes metrics and measures used to understand financial performance of the firm. The course introduces the finance view of the firm and the application of value creation principles to firm decision making. The course presents the centrality of cash flows, the theoretical foundations for Time Value of Money, decision tools for investment of capital, basic valuation of stocks and bonds, and the theoretical foundations for the impact of risk on the required return on investor capital.
FINA 3001H - Honors: Finance Fundamentals
(3 cr; Prereq-Acct 2050 or Acct 2051, SCO 2550 or BA 2551 or equivalent statistics course; A-F only; offered Every Fall)
Equivalent courses: FINA 3000 (inactive, ending 07-SEP-99), FINA 3001 (starting 20-JAN-15, ending 07-SEP-10), APEC 3501 (starting 20-JAN-15, ending 02-SEP-08)
Financial management principles. Money/capital markets, risk/return/valuation triad, capital budgeting. Capital structure, financial leverage. Cost of capital, financial performance measures, dividend policy, working capital management, international financial management/derivatives.
FINA 4121 - Financial Markets and Interest Rates
(2 cr; Prereq-FINA 3001 or FINA 3001H; CSOM mjr or NONM or Management minor or Math/Actuarial Science major. ; A-F or Audit; offered Every Fall & Spring)
Equivalent courses: FINA 4121H (inactive)
This course provides a framework to understand how financial markets operate and how they establish the cost of capital demanded by investors through market interest rates. Course presents valuation models for bonds, the impact of the Federal Reserve on the level and term structure of interest rates, measures of interest rate risk, financing markets for securities and how these define the pricing of futures and forward contracts.
FINA 4122 - Banks, Banking Services, and FinTech
(2 cr; Prereq-FINA 3001 or FINA 3001H; CSOM mjr or NONM or Math/Actuarial Science major; A-F or Audit; offered Every Spring)
This course examines the traditional economic functions of commercial banks, especially lending, savings and liquidity provision, and payment services. For each function, we will address key business risks, policy concerns, and the impact of competition both from traditional nonbank financial institutions and from ?fintechs? seeking to leverage new information technology.
FINA 4125 - Blockchain, Cryptocurrencies & their Applications in Finance
(2 cr; Prereq-FINA 3001 or FINA 3001H or APEC 3501; CSOM mjr or Math mjr or NONM; A-F only; offered Every Fall)
If you have been following the popular press you know about Bitcoin, Ethereum, NFTs, and possibly ICOs. You have heard about blockchain and distributed ledgers. You might not know that the number of cryptocurrencies is fast increasing and might soon be about 1000 of them. Depending on that day?s price, there might be a 100 cryptos with a notional market cap above one billion and about 15 above 10 billion. You will learn that cryptocurrencies are extremely volatile. Is it all hype or this the shape of our future? Will this be another Tulip craze? How will they effect regular commerce? Are they just digital gold? How will governments step in to regulate them? Will Governments issue their own Digicoins? In this course, we will not be able to answer all the above questions. However, you will gain a basic understanding of the new technology that is based on cryptography. We will discuss what it provides and where it is still lacking. We will revisit the role of money and what makes a currency successful. We will then examine the properties of cryptocurrencies and ask what it would take for them to be a store of value and/or a medium of exchange. To do this we will start with some fundamental concepts from cryptography that would allow you to understand the technology beyond some stretched analogies. We will discuss the economics of these currencies and the regulatory issues facing governments. We will then delve into the use cases: Primary markets (ICOs & venture capital), secondary markets and exchanges, smart contracts, and potentially settlement activities in clearing houses.
FINA 4221 - Principles of Corporate Finance
(2 cr; Prereq-FINA 3001 or FINA 3001H; CSOM mjr or NONM or Management minor or Math/Actuarial Science major.; A-F only; offered Every Fall & Spring)
Equivalent courses: FINA 4241 (inactive, starting 02-SEP-08)
This course evaluates how the financing choices the firm makes influence the creation of firm value and allocation of firm risks among investors. Course presents the debt vs. equity trade-off, tax effects of financing, dividend vs. share repurchases, and the impact on managerial incentives and agency problems.
FINA 4234 - Mergers and Acquisitions In Action ? Process and Valuation
(2 cr; A-F only; offered Every Fall)
This action-based course will explore in an experiential way the methodology corporate managers employ and invest capital to achieve growth and a return to its shareholders through mergers and acquisitions. Starting with the strategic rationale and ending with the challenges of integration, this course will focus on the process used for identifying M&A targets and the methods used in practice to value these transactions. The objectives of the course will be to leverage skills mastered in the core curriculum: finance, marketing, accounting, and operations and other related courses that will help you in this class. Prerequisite: Fina 4422 or 5322
FINA 4242W - Corporate Investment Decisions [WI]
(4 cr; Prereq-FINA 4121, 4321, 4422 or 5322, 4522, and CSOM major; A-F or Audit; offered Every Fall & Spring)
Equivalent courses: was FINA 4242 until 18-JAN-11
This case-based course provides the student with an opportunity to apply the concepts from previous finance coursework to a variety of decisions a firm would face when allocating capital to investment decisions. The focus is weighted toward combining the theory with the practice of valuation of investment opportunities through the use of group cases to give the student a sense of the strengths and weaknesses of such analysis. The course presents firm performance measurement metrics, APV & WACC based valuation, working capital management, making capital budgeting decisions, financial distress and capital structure, real options, and mergers and acquisitions.
FINA 4321 - Portfolio Management and Performance Evaluation
(2 cr; Prereq-FINA 3001 or FINA 3001H; CSOM mjr or NONM or Management minor; A-F or Audit; offered Every Fall & Spring)
Equivalent courses: FINA 4321H (inactive)
This course uses statistics to demonstrate how the construction of portfolios of individual securities impacts the risk return trade-off for investors through diversification. Course presents models of pricing investor risk, impact of asset allocation on returns, active versus indexed portfolio management, and approaches to measure value added performance of investment portfolios.
FINA 4325 - Behavioral Finance
(2 cr; Prereq-4321 or 4321H; A-F only; offered Every Spring)
This course introduces students to how the application of psychology and realistic settings to guide and develop the alternative theories of financial market complements the traditional theoretical finance paradigm. The student will use the insights of behavioral finance to shed light on trading patterns, behavior of asset prices, corporate finance and various other financial topics.
FINA 4329 - Security Analysis Capstone
(2 cr; Prereq-FINA 4121 or 4121H, 4321 or 4321H, 4422 or 5322, 4522, ACCT 5100 or ACCT 5101; A-F only; offered Every Fall & Spring)
Equivalent courses: FINA 4322 (inactive, starting 02-SEP-08)
Valuation of equity securities. Principles. Relationship between various valuation approaches. Tools to test self-designed security selection rules.
FINA 4422 - Financial Modeling
(2 cr; Prereq-Fina 4221 (can be concurrent), Acct 5101 (can be concurrent), CSOM major; A-F only; offered Every Fall & Spring)
This applied course builds on principles from the prerequisite courses and provides students with significant practice building financial models to identify the free cash flow from and required investment in projects or firms for discounted cash flow and sensitivity analysis. Course presents net operating working capital requirements, Valuation with Free Cash Flow based methods, and the construction of three statement pro-forma cash flow projections.
FINA 4522 - Options & Derivatives I
(2 cr; Prereq-CSOM mjr; FINA 3001 or FINA 3001H or APEC 3501; FINA 4121 or FINA 4121H; FINA 4321 or FINA 4321H; A-F only; offered Every Fall & Spring)
Equivalent courses: FINA 4523 (inactive), FINA 4541 (inactive, starting 02-SEP-08)
This course provides a comprehensive introduction to derivative contracts and their pay-offs and basic pricing and how they are used to manage risk or speculate in financial markets. Course presents forward and futures contracts, option contracts, and swap contracts.
FINA 4529 - Derivatives II Capstone
(2 cr; Prereq-FINA 4522; A-F only; offered Every Spring)
Equivalent courses: was FINA 4529H until 21-JAN-14
Quantitatively advanced material such as Black-Scholes model for valuing option sensitivities (the Greeks). Value-at-risk methods. Valuation/uses of credit derivatives such as default swaps/collateralized debt obligations.
FINA 4621 - The Global Economy (Macro)
(2 cr; A-F only; offered Every Fall & Spring)
Equivalent courses: FINA 4641 (inactive, starting 02-SEP-08)
The course is intended to help you develop a global perspective on the economy. You will develop a set of skills and concepts that will permit you to understand and to analyze the foundations of the economy at large. We want to understand the main drivers of economic growth over time and across countries. Key skills and conceptual take-aways from this course: 1. Explain how an economy, firms, labor, and finance fit together. 2. Able to use the Solow and Romer growth models: i) to understand long term growth, ii) to predict shock effects, iii) to measure TFP iv) to examine GDP differences across countries 3. Understand labor market using supply and demand, and using the bathtub model 4. Able to analytically derive the classical gains from free trade. Understand key benefits and drawbacks to globalization. The lectures are structured as Foundations, Growth, Labor, Globalization. We start by setting up a foundation that stresses the fact that things have to fit together coherently. We need to be careful about how we measure things. The role of firms and financial markets are frequently misunderstood so we devote special effort to why these exist and what role they play. Next we turn to the overall evolution of the economy ? sometimes called mega-trends. People open underestimate the amount of economic variation from one decade to the next and hence may not adequately prepare. A key purpose of this course is to help you understand key drivers of economic growth, and the wealth difference across time and between countries. This will provide context for you to think about some potentially forthcoming major changes. The role of labor deserves special attention since it connects directly to human beings. The treatment of, and returns to labor are critical to human welfare. We will consider the labor market in general, unemployment, and inequality both within and across countries. Finally we will examine the role of globalization and international trade. We will formally
FINA 4622 - International Finance
(2 cr; Prereq-CSOM major, Fina 3001 or 3001H, 4121 or 4121H, 4221; A-F only; offered Every Fall & Spring)
This course provides the student with an understanding of the nature and purposes of financial management in the international context for multinational enterprises and skills in international investment, financing techniques and exchange rate risks. The student will examine barriers to international capital flows and some of the tools used to overcome these barriers. The course presents cost of capital in emerging economies and currency risk management.
FINA 4920 - FinanceTopics (Topics course)
(2 cr [max 4]; A-F or Audit; offered Periodic Fall & Spring; may be repeated for 10 credits; may be repeated 5 times)
Discussion and analysis of current topics and developments in Finance.
FINA 5125 - Cryptocurrency, Blockchain, and Their Business Applications
(2 cr; A-F only; offered Every Spring)
This course discusses cryptocurrencies (including Bitcoin, Ethereum, and others), blockchain, also referred to as distributed ledger technology (DLT), and their applications in various business sectors. The course first explains the history of cryptocurrency and the fundamentals of blockchain including cryptography and consensus mechanism. Although technical, this part is essential to establish a foundation to understand cryptocurrencies and blockchain. The rest of the course is on the applications of blockchain. We will discuss enterprise blockchain, smart contracts, and token offerings, e.g., initial coin offerings (ICOs) and securities token offering (STOs). We will have industry experts to give guest lectures on the realworld blockchain applications and interact with students. Finally, we will cover the valuation models for cryptoassets, the practical details of how to use cryptocurrency, and various investments related to blockchain. The goal of the course is to provide students with a basic set of skills to understand cryptocurrencies and blockchain and how businesses can use them.
FINA 5322 - Financial Modeling
(2 cr; Prereq-FINA 3001 and admittance to Carlson Funds Enterprise; A-F only; offered Every Spring)
Financial modeling tools to access financial data warehouses to build, estimate, maintain, and interpret comprehensive financial models that provide the framework for understanding businesses and their historical performance, plans/strategies, and market values. Financial analytics/modeling skills, including data mining of large standard financial databases (warehouses) (e.g. Capital IQ), and a manageable introduction to Excel VBA programming.
FINA 5323 - Advanced Financial Modeling
(2 cr; Prereq-FINA 5322 and admittance to the Carlson Funds Enterprise; A-F only; offered Every Fall)
This course builds the advanced financial modeling tools needed to build, operate, and understand the standard performance analysis, valuation analysis, credit analysis, and M&A and LBO models that have become central to modern financial analysts.
FINA 5422 - Financial Econometrics and Computational Methods I
(2 cr; A-F only; offered Every Fall)
This course provides an introduction to the methods used in empirical finance. A review of statistics is followed by intensive instruction on matrix algebra that culminates in a fundamental understanding of linear regression, the basic empirical tool. Asset pricing theories are discussed and developed and then methods are derived to test them. The course will emphasize estimation and inference using computer-based applications.
FINA 5423 - Financial Econometrics and Computational Methods II
(2 cr; A-F only; offered Every Fall)
This course builds on Financial Econometrics I and provides instruction on the econometrics used in empirical finance. Topics will include time series analysis, parametric models of volatility, evaluation of asset pricing theories, and models for risk management. The course will emphasize estimation and inference using computer-based applications.
FINA 5529 - Derivatives II
(2 cr; A-F only; offered Every Spring)
This course begins with a discussion of advanced derivative hedging techniques and proceeds to the economics and mechanics of advanced derivative securities, including interest rate derivatives, swaps, Asian options, and barrier options. The second phase of the course investigates mathematical techniques for stochastic and dynamic modeling of asset prices and derivative security values. Students must use these statistical modeling techniques and advanced programming software (Matlab, Python, R, etc) in a group project to price path dependent securities such as American style options.
FINA 5920 - Finance Topic (Topics course)
(2 cr [max 4]; A-F only; offered Periodic Fall & Spring; may be repeated for 8 credits; may be repeated 4 times)
Discussion and analysis of current topics and developments in Finance.
FINA 6111 - Financing over a Firm?s Lifecycle
(1 cr; Prereq-MBA 6231 (previously MBA 6230); A-F only; offered Every Fall & Spring)
All companies?from small startups to large public companies?require funding in order to operate. This course provides an overview of the various sources of financing that a company can access throughout the different stages of its life, including debt and equity financing, Venture Capital, Private Equity, Initial Public Offerings, and others.
FINA 6114 - Private and Public Equity Financing
(2 cr; A-F only; offered Every Spring)
Equivalent courses: FINA 6113 (inactive, starting 06-SEP-22), FINA 6112 (inactive, starting 06-SEP-22)
Financing is a critical success factor for growing businesses. We will follow the life cycle of a firm to discuss financing at different stages. This course will explore current issues and best practices for private and public equity ranging from early-stage financing with angel investors and Venture Capital to late stage ?take-private? transactions such as leveraged buyouts. We will also explore topics including Initial Public Offerings (IPOs), Direct Listings, Special Purpose Acquisition Companies (SPACs) or ?blank-check? companies and Seasoned Equity Offerings (SEOs). The course will utilize a combination of learning techniques including guest speakers, lectures, in class exercises and case studies. This course was created to combine Fina 6112 and Fina 6113.
FINA 6121 - Debt Markets, Interest Rates, and Hedging
(2 cr; Prereq-MBA student, MBA 6231 (previously MBA 6230); A-F only; offered Every Fall & Spring)
This class introduces the tools and concepts needed to analyze fixed income securities. Topics include the pricing and hedging of fixed-rate Treasuries, floating rate bonds, bonds with embedded options, defaultable bonds, mortgage-backed securities and their derivatives, inflation-indexed bonds, duration analysis, and the Federal Reserve?s impact on interest rates. This course is extremely computationally intensive. Most of the assignments entail statistical modeling via regression analysis on historical data such as the term structure of interest rates, credit spreads, and other fixed income instruments. We also investigate how well future interest rates can be forecasted using forward rates and other observables. Advanced mathematical techniques such as principal component analysis and attribution analysis are investigated. Stochastic modeling of interest rate dynamics via Brownian Motion and Monte Carlo analysis is also introduced. Every class begins by discussing current headline news regarding fixed income markets, and how they relate to the concepts being taught.
FINA 6122 - Financial Management of Depository Institutions
(2 cr; Prereq-MBA 6231 (previously MBA 6230), MBA student; A-F only; offered Every Spring)
Commercial banks, other depository institutions. Asset/liability management, risk management, geographic expansion, investment banking, public policy issues. Lectures, student presentations, project.
FINA 6123 - Financial Services Industry
(2 cr; A-F only; offered Every Spring)
This course gives an overview of the U.S. financial services industry, emphasizing the overall environment, key institutional details, and underlying economic functions. After introducing financial markets and institutions and their functions, we look at the biggest sectors of this industry (banking, insurance, securities dealing, money management, etc.) in more depth. We conclude with a discussion of the impact of "fintech" on this sector.
FINA 6125 - Cryptocurrency, Blockchain, and Their Business Applications
(2 cr; A-F only; offered Every Spring)
This course discusses cryptocurrencies (including Bitcoin, Ethereum, and others), blockchain, also referred to as distributed ledger technology (DLT), and their applications in various business sectors. The course first explains the history of cryptocurrency, and the fundamentals of blockchain including cryptography and consensus mechanism. Although technical, this part is essential to establish a foundation to understand cryptocurrencies and blockchain. The rest of the course is on the applications of blockchain. We will discuss enterprise blockchain, smart contracts, and token offerings, e.g., initial coin offerings (ICOs) and securities token offering (STOs). We will have industry experts to give guest lectures on the real-world blockchain applications and interact with students. Finally, we will cover the valuation models for crypto assets, the practical details of how to use cryptocurrency, and various investments related to blockchain. The goal of the course is to provide students with a basic set of skills to understand cryptocurrencies and blockchain and how businesses can use them.
FINA 6211 - Cash Flows and Project Selection
(1 cr; Prereq-MBA 6231 (previously MBA 6230); A-F only; offered Every Fall & Spring)
Managers are judged on their ability to select value-added projects; this is also one of the drivers of business value. This course will explore the idea of ranking and selecting the best projects. This will be accomplished through a study of cash flows and ranking metrics, including payback, internal rate of return, and net present value.
FINA 6212 - Working Capital Management
(1 cr; Prereq-MBA 6231 (previously MBA 6230); A-F only; offered Every Fall & Spring)
Cash management is a major factor in the success or failure of a business. Companies often find themselves short on cash even in a time of profitability. Being able to manage a business through the cash cycle is a key factor in business success. This course will explore current issues and best practices for working capital management.
FINA 6213 - Financial Capital Structure
(1 cr; Prereq-MBA 6231 (previously MBA 6230); A-F only; offered Every Fall & Spring)
This course focuses on one of the most fundamental corporate finance decisions, the determination of a firm?s financial capital structure, and its impact on firm risk, cost of capital, and firm value. The course also studies corporate bankruptcy and reorganization. Fina 6213 and FINA 6214 can have concurrent enrollment.
FINA 6214 - Business Valuation
(1 cr; Prereq-MBA 6231 (previously MBA 6230) & FINA 6213; A-F only; offered Every Fall & Spring)
Description: Valuation is at the very core of finance. Valuation is about figuring out what we think an asset is worth to us, while pricing determines how much we pay for the asset. The two are not necessarily the same. This course introduces various methods for the valuation of a business or the equity of the business. FINA 6213 and FINA 6214 can have concurrent enrollment.
FINA 6215 - The CFO Mindset: Finance, Strategy and Operations
(1 cr; Prereq-MBA 6231 (previously MBA 6230); A-F only; offered Every Spring)
Corporate governance is about the art and sciences of managing the interests of and the relationships among various corporate stakeholders: equity investors, debt investors, top management, and other employees.
FINA 6222 - Mergers and Acquisitions
(2 cr; Prereq-MBA or Mgmt Sci MBA Student; MBA 6231 (previously MBA 6230), FINA 6241 OR (FINA 6213 & FINA 6214); A-F only; offered Every Spring)
How corporate managers achieve growth through mergers/acquisitions. Examine buyer/seller motivations in context of M&A transactions/strategic alliances. Private equity, especially in context of corporate M&A transaction.
FINA 6241 - Corporate Financial Decisions and Analysis
(4 cr; Prereq-MBA 6230, MBA student; A-F only; offered Every Fall & Spring)
Theoretical/applied understanding of corporate financial decisions. Adjusted present value, economic value added options. Impact of financing decisions on real asset valuation, managerial incentives, corporate strategy.
FINA 6242 - Advanced Corporate Finance Analysis and Decisions
(4 cr; Prereq-6241, MBA student; A-F only; offered Every Fall)
Theory/practice of efficiently managing working capital, fixed assets. Emphasizes mergers/acquisitions, corporate restructuring, real options. Use of derivatives as financing tools, in deal structure.
FINA 6321 - Portfolio Analysis and Management
(2 cr; Prereq-MBA 6121 (previously MBA 6120), MBA 6231 (previously MBA 6230), MBA or Mgmt Sci MBA student; A-F only; offered Every Fall)
Introduces analytical concepts used to manage security portfolios from perspective of an institutional investor. Market microstructure. Margin purchasing, short selling. Portfolio risk management, risk/return tradeoffs, strategic/tactical asset allocation, active versus passive management. Portfolio revision, performance evaluation.
FINA 6322 - Financial Modeling
(2 cr; Prereq-MBA 6231 (previously MBA 6230), MBA or Mgmt Sci MBA student; A-F only; offered Every Spring & Summer)
Financial modeling tools to access financial data warehouses to build, estimate, maintain, and interpret comprehensive financial models that provide the framework for understanding businesses and their historical performance, plans/strategies, and market values. Financial analytics/modeling skills, including data mining of large standard financial databases (warehouses) (e.g. Capital IQ), and a manageable introduction to Excel VBA programming.
FINA 6323 - Advanced Financial Modeling
(2 cr; Prereq-FINA 6322, MBA or Mgmt Sci MBA Student; A-F only; offered Every Fall)
Advanced financial modeling tools to build, estimate, operate, audit, evaluate and understand business performance, and M&A, equity, and credit securities analysis models that have become central to sophisticated financial analysis of all operating businesses, transactions, and securities. How to analyze by way of financial models, screening (data mining) of large financial databases (warehouses). Adding to VBA programming skills required for advanced financial modeling.
FINA 6324 - Securitization Markets
(2 cr; Prereq-FINA 6121, MBA or Mgmt Sci MBA student; A-F only; offered Every Spring)
Splitting risks. Redirecting risks to investors able to analyze and take on those risks. Reasons for development of securitization. Products, their similarities in character. How to build simple models and analyze examples of actual securitized liabilities.
FINA 6325 - Behavioral Finance
(2 cr; Prereq-MBA or Mgmt Sci MBA student; A-F only; offered Every Spring)
Psychology/realistic settings that guide/develop alternative theories of financial market. How behavioral finance complements traditional paradigm on investors' trading patterns, behavior of asset prices, corporate finance, various Wall Street institutions/practices.
FINA 6341 - World Economy
(4 cr; Prereq-MBA 6231 (previously MBA 6230), MBA or Mgmt Sci MBA student; A-F only; offered Every Fall, Spring & Summer)
Equivalent courses: was FINA 6331 until 18-JAN-00
Tools to predict/understand ramifications of major economic events. Financial crises. Changes in monetary, fiscal, financial policies. Strategies for promoting long-run economic growth. Examples from U.S., Europe, Japan, developing countries.
FINA 6511 - Options for Corporate Finance
(1 cr; Prereq-MBA 6231 (previously MBA 6230); A-F only; offered Every Spring)
This course explores financial options from the perspective of a corporation, including what financial options are, how they work, and how they are frequently used to pay employees and managers. Further applications will be explored, including how options can be used as tools to better understand corporate financing and project selection decisions.
FINA 6522 - Introduction to Derivatives and Financial Risk Management
(2 cr; Prereq-6121, MBA student; A-F only; offered Periodic Fall & Spring)
Equivalent courses: was FINA 6622 until 03-SEP-13
This class provides an introduction to derivatives pricing models and their applications. Building on the insights from the binomial model and the Black-Scholes model, it covers dynamic replication and optimal risk management strategies. It also combines tools from derivatives pricing and the CAPM model to develop investment strategies that achieve the optimal risk and return trade-off. Students are required to use Excel, Matlab or other programming languages to build replicating portfolios and to construct optimal investment and risk management strategies. They are also required to use historical data to evaluate the effectiveness of these investment strategies.
FINA 6529 - Advanced Topics in Fixed Income and Derivatives
(2 cr; Prereq-(credit will not be granted if already received for 6541); A-F only; offered Periodic Fall & Spring)
Equivalent courses: was FINA 6541 until 03-SEP-13
Economics and mechanics of derivatives. First phase focuses on theoretical and institutional foundations for various derivatives instruments and markets. Second phase is practicum in which student groups build working models of derivatives.
FINA 6611 - Finance for Multinationals
(1 cr; Prereq-MBA 6231 (previously MBA 6230) ; A-F only; offered Every Spring)
Virtually all companies?from small privately held companies to large public companies?are involved in international trade, even if only sourcing raw materials and components internationally. The advent of robust e-commerce websites has further enabled companies of all sizes to actively participate in international trade. This course explores the nature, purposes, and risks of international trade by multinational companies, and the relevant capital budgeting processes and international financing tools needed to facilitate international trade. Students will gain skills in international investment analysis, capital financing techniques, capital budgeting for international projects, and international trade risk management. Students will examine barriers to international capital flows, and study the financial instruments used to overcome these barriers, focusing on the decisions made by multinational enterprises.
FINA 6621 - International Financial Management
(2 cr; Prereq-MBA 6231 (previously MBA 6230), MBA student; A-F only; offered Every Spring)
Applying finance theory to multinational corporations' investment, financing, risk management, decisions. International financial system. Spot, forward, swaps, option markets for foreign exchange. Interest rate arbitrage, parity. Exchange rate risk analysis/forecast. Measuring/managing currency exposure. Long term financing with swaps. Multinational capital budgeting. Cost of capital for international projects.
FINA 6623 - Economic Booms and Busts
(2 cr; A-F only; offered Every Fall)
The purpose of this course is to provide you with an understanding of the world economy through the impact of government policies in the economy. We focuses on using macro and international economics to analyze the world economy and the implications for business management. The course uses lectures and class discussion to familiarize students with macro and international economic tools with a goal of improving managerial decision-making. We focuses on understanding the role of government monetary policies, fiscal policies, trade policies, and exchange rate policy to impact on economy and study the linkage between economic analysis and strategic business management.
FINA 6624 - Growth in the Global Economy
(2 cr; A-F only; offered Every Spring)
The purpose of this course is to provide you with an understanding of the main drivers of economic growth across countries and over time. This will be done through the lens of macroeconomic analysis and policy debates. The class starts by covering the foundations: basic national income accounting, money, labor markets, and basic of international capital flows. An important topic is long-run economic growth and how that helps us to understand differences over time and across countries.
FINA 6801 - Finance Independent Study
(1 cr [max 6]; Prereq-MBA student, instr consent; A-F only; offered Periodic Fall & Spring; may be repeated for 12 credits; may be repeated 2 times)
Independent study.
FINA 6920 - Topics in Finance (Topics course)
(2 cr [max 4]; A-F only; offered Periodic Fall & Spring; may be repeated for 4 credits)
Discussion and analysis of current topics and developments in Finance.
FINA 8802 - Theory of Capital Markets I: Discrete Time
(2 cr; Prereq-[Econ 8101, Econ 8102, business admin PhD student] or instr consent; Student Option; offered Every Fall)
Modern asset pricing theory. Static/discrete time frameworks. Fundamental asset pricing equation. Classical finance models: CAPM, consumption-based CAPM, Complete markets, representative agent, Pareto
FINA 8803 - Theory of Capital Markets II: Continuous Time
(2 cr; Prereq-[Econ 8101, Econ 8102, Bbsiness admin PhD student] or instr consent; Student Option; offered Every Spring)
Continuous-time financial economics. Emphasizes mathematical/statistical tools. Ito processes, Girsanov?s theorem, risk-neutral pricing. How to formulate/analyze continuous-time models.
FINA 8804 - Advanced Continuous Time Finance
(2 cr; Prereq-8802, 8803; Student Option; offered Every Fall)
Pricing of fixed income securities, optimal capital structure, general equilibrium. Classic/current papers in continuous-time literature.
FINA 8810 - Topics in Asset Pricing (Topics course)
(2 cr; Prereq-Business admin PhD student or instr consent; A-F or Audit; offered Fall Even Year; may be repeated for 4 credits; may be repeated 2 times)
Current topics in asset pricing literature. Students read papers on these topics, rederive the main results, identify the main assumptions and thus identify ideas on how to improve upon the current literature.
FINA 8812 - Corporate Finance I
(2 cr; Prereq-[Econ 8103, Econ 8104, business admin PhD student] or instr consent; Student Option; offered Every Fall & Spring)
Corporate control, managerial incentives, corporate governance, capital structure. What assets are collected within firm. What determines boundaries of firm. Empirical evidence in support of theoretical models. Modern theories of firm, based on incomplete contracts. How corporate finance decisions expand/limit scope of firm.
FINA 8813 - Corporate Finance II
(2 cr; Prereq-[8812, business admin PhD student] or instr consent; Student Option; offered Every Fall & Spring)
Theoretical corporate finance. Initial public offering, dividend policy. Financial distress and its resolution. Financial intermediation, applications of auctions in finance.
FINA 8820 - Topics in Corporate Finance (Topics course)
(2 cr; Prereq-Business admin PhD student or instr consent; A-F or Audit; offered Fall Odd Year; may be repeated for 4 credits; may be repeated 2 times)
Current topics in corporate finance literature. Students read current papers, rederive the main results, identify the main assumptions and thus identify ideas on how to improve on the current literature.
FINA 8822 - Empirical Methods in Finance
(2 cr; Prereq-8802, 8803; Student Option; offered Every Spring)
Empirical techniques in analysis of financial markets, how they are applied to actual market data. Statistical properties of asset returns, efficient markets hypothesis. Empirical tests of asset pricing models (CAPM, APT, Intertemporal CAPM, Consumption CAPM). Tests of conditional asset pricing models.
FINA 8823 - Empirical Corporate Finance
(2 cr; Prereq-8802, 8803; Student Option; offered Every Spring)
Current empirical research on corporate finance. Mergers/acquisitions, equity offerings, event studies, tests of market efficiency, impact of corporate governance, compensation policies, initial public offerings.
FINA 8890 - Seminar: Finance Topics (Topics course)
(2 cr [max 4]; Prereq-[[8802, 8812, 8822, 8823] or equiv], business admin student] or instr consent. No first year students to enroll.; A-F only; offered Every Fall & Spring; may be repeated for 16 credits; may be repeated 4 times)
Current topics/problems of interest considered in depth. Topics vary.
FINA 8892 - Independent Study in Finance
(1 cr [max 8]; Prereq-Business admin PhD student or instr consent; Student Option; offered Every Fall, Spring & Summer; may be repeated for 16 credits; may be repeated 16 times)
Problems or developments of special interest to the student.
FINA 8894 - Directed Research in Finance
(1 cr [max 8]; Prereq-Business admin PhD student specializing in finance or instr consent; Student Option; offered Every Fall & Spring; may be repeated for 16 credits; may be repeated 16 times)
Individualized directed research on a project of interest to the student, approved and advised by faculty.

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