FINANCE
Professors T.M. Barnhill, W. Handorf, M.S. Klock (Chair), S. Phillips, I.G. Bajeux-Besnainou, G.M. Jabbour, R.K. Green, P.R. Locke
Associate Professors J.M Sachlis, N.G. Cohen, P.S. Peyser, A.J. Wilson, R. Savickas
Assistant Professors S. Agca, G. Jostova, A. Baptista, M. Hwang
Professorial Lecturers S. Uyanik, J. Overdahl
Associate Professorial Lecturers R. Strand, T. McCormick
See the School of Business & Public Management for programs of study in business administration leading to the degrees of Master of Accountancy, Master of Business Administration, Master of Science in Finance, and Doctor of Philosophy.
| 221 |
Financial Decision Making (3) |
Sachlis, Peyser, Wilson |
| |
Theory and practice of business finance, emphasizing the impacts of long-and short-term uses and sources of funds on the firm's market value. Prerequisite: MBAd 250. (Fall and spring) |
| 222 |
Capital Formation (3) |
Handorf and Staff |
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Determinants of saving and investment and resultant funds flow are evaluated. Special emphasis on the level and risk structure and term structure of interest rates. The role and management of financial institutions is stressed. Prerequisite: MBAd 250. (Fall and spring) |
| 223 |
Investment Analysis and Portfolio Management (3) |
Cohen, Klock, Bajeux-Besnainou, Baptista |
| |
Risk–reward analysis of security investments, including analysis of national economy, industry, company, and market; introduction to portfolio management; emphasis on theory and computer methods. Prerequisite: MBAd 250. (Fall and spring) |
| 224 |
Financial Management (3) |
Barnhill, Cohen |
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Advanced case studies in domestic and international financial management; working capital policy, capital budgeting, financing with debt and equity, dividend policy, valuation, project finance, venture capital, and mergers and acquisitions. Prerequisite: Fina 221. (Fall and spring) |
| 234 |
New Venture Financing: Due Diligence and Valuation Issues (3) |
Carayannis, Barnhill |
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Fundamentals and practice of due diligence and screening of early-stage investment opportunities. Same as Mgt 296. |
| 235 |
Futures Markets: Trading and Hedging (3) |
Staff |
| |
Organization and regulation of futures markets. Alternative strategies for trading of futures contracts for possible hedging uses. High risk–high return investment alternatives. The use of futures markets to manage risks. Prerequisite: MBAd 250; recommended: Fina 221. (Fall and spring) |
| 236 |
Options (3) |
Jabbour and Staff |
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Pricing of options on financial instruments. Role of options in risk management, trading strategies, hedging implications for national and international investors, financial engineering, and structure and regulation of option markets. Prerequisite: MBAd 250; recommended: Fina 221. (Fall and spring) |
| 237 |
Personal Financial Advising (3) |
Cohen |
| |
For students preparing to be personal financial advisors; the combination of taxes, pensions, investing, budgets, estates and trusts, and insurance into comprehensive personal financial plans. Regulation, professional ethics, and the economics of advisory firms. Extensive use of computer spreadsheets and case studies. Prerequisite: Fina 223; Accy 261 is recommended. (Spring) |
| 238 |
Financial Engineering (3) |
Barnhill |
| |
Valuation and risk management theory for bonds, forward contracts, swaps, options, exotic options, and interest rate options. Development of financial software, including Monte Carlo simulation modeling. Case studies of innovative solutions to investment, corporate finance, and financial institution management problems. Prerequisite: Fina 236. (Spring) |
| 240 |
Real Estate Development (3) |
Staff |
| |
Examination of the forces that shape real estate development; market analysis methods and techniques to evaluate project feasibility; the institutional and legal framework within which real estate development occurs and that influences controls, land value, and development potential. (Fall) |
| 241 |
Financing Real Estate Development (3) |
Green, Hwang |
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Principles of real estate development finance; evaluating and measuring the investment attractiveness of real estate projects; obtaining, differentiating, and hedging sources of real estate funding; and appraising property. Incentives provided by local, state, and federal governments. Prerequisite: MBAd 250 or permission of instructor. (Fall and spring) |
| 242 |
Problems in Real Estate Valuation (3) |
Staff |
| |
Applications of market analysis, valuation, and financial techniques to the real estate development process. |
| 248 |
Real Estate Development Cases (3) |
Staff |
| |
Case study analysis of large-scale commercial real estate developments to gain comprehension of financial, political, legal, and technical complexities and constraints inherent in the real estate development process. Prerequisite: Fina 220 or permission of instructor. |
Master of Science in Finance degree candidacy is prerequisite to Fina 271 to 282.
| 271 |
Financial Modeling and Econometrics (4) |
Soyer, Wirtz |
| |
Applied statistical and econometric analysis and modeling in finance. Methodologies include descriptive and inferential statistics, multivariate regression, time series analysis, and simulation modeling. Empirical studies are reviewed, and a series of research projects are undertaken. (Fall) |
| 272 |
Global Financial Markets (4) |
Yang, Rehman |
| |
Theories explaining domestic and international interest rate and exchange rate structures. Roles of financial institutions and markets are investigated and forecasting methodologies are applied. (Spring) |
| 273 |
Advanced Accounting Applications for Finance (4) |
Kumar, Neuhauser |
| |
Intermediate financial accounting; international and tax accounting. Emphasis on computer modeling to analyze and forecast a firm's financial statements to reflect possible future performance. (Fall) |
| 274 |
Corporate Financial Management and Modeling (4) |
Sachlis, Handorf |
| |
The foundation theories of business real investment and financing are summarized and applied in a simulation environment. Emphasis on understanding the causal connections between business decision making in a global economy and the resulting valuation of the firm's financial assets. Financial modeling and forecasting applications. (Fall) |
| 275 |
Investment Analysis and Global Portfolio Management (4) |
Jostova, Savickas |
| |
Financial markets and instruments viewed from the investor's perspective. Analysis of the value of equity and fixed-income securities and the construction of efficient portfolios in a global financial market. Issues of market efficiency, tax structures, and investment funds; computer-based models. (Spring) |
| 276 |
Financial Engineering and Derivative Securities (4) |
Jabbour, Seale |
| |
Mathematical and theoretical foundations to value-derivative securities, including options, futures, and swaps; hedging and trading applications of these contracts. Arbitrage trading across cash and derivative markets and its role in maintaining equilibrium prices. (Summer) |
| 277 |
Comparative Financial Market Regulation and Development (4) |
Gabaldon |
| |
Theory and current status of comparative regulation of domestic and international financial institutions and markets. Effects on country economic development and international trade. (Fall) |
| 278 |
Financial Theory and Research (4) |
Peyser, Bajeux-Besnainou |
| |
Theoretical constructs of business investment and financing decisions and of financial asset pricing structures in domestic and international environments. Analytical and numerical models are developed, and empirical studies are evaluated. (Spring) |
| 279 |
Real Estate Finance and Fixed-Income Security Valuation (4) |
Green, Agca |
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A primary focus is the application of financial theory to real estate investment and financing. Another is fixed-income security valuation and design and portfolio management. Application of decision support and artificial intelligence systems in making financial decisions. (Spring) |
| 280 |
Financial Institution Management and Modeling (4) |
Handorf |
| |
Financial institution asset and liability management. A dynamic simulation model is developed and run under varying macroeconomic conditions, as additional layers of complexity, involving multinational investment, borrowing, and hedging, are added. (Summer) |
| 281 |
Cases in Financial Management and Investment Banking (4) |
Cohen, Jabbour |
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Through a series of cases and simulations, students address real financial problems faced by domestic and international companies, including capital budgeting, capital structure, mergers and acquisitions, and project financing. The negotiating process by which many financial situations are resolved is emphasized. (Summer) |
| 282 |
Directed Research in Finance (1 to 4) |
Jabbour, Joutz, Click |
| |
Students design and execute a financial research study, applying knowledge developed throughout the M.S. in Finance program. Class sessions vary from lectures on research methods to colloquia by outside professionals to critique studies. (Summer) |
| 290 |
Special Topics (3) |
Staff |
| |
Experimental offering; new course topics and teaching methods. May be repeated once for credit. |
| 297 |
International Management Experience (3) |
Staff |
| |
Same as Accy 297/ IBus 297/ Mgt 297/ Mktg 297/ SMPP 297. May be repeated for credit. |
| 298 |
Directed Readings and Research (2 to 4) |
Staff |
| 299 |
Thesis Seminar (3) |
Staff |
| 300 |
Thesis Research (3) |
Staff |
| 311 |
Seminar: Public–Private Sector Institutions and Relationships (3) |
Staff |
| |
Same as SMPP 311. |
| 321 |
Seminar: Financial Markets Research (3) |
Klock |
| |
Market efficiency, utility testing, the capital asset pricing model, the arbitrage pricing theory, the option pricing model, and aggregate market volatility. |
| 322 |
Seminar: Corporate Finance Research (3) |
Neuhauser |
| |
Capital budgeting, capital structure issues, dividend policy, microeconomic foundations, mergers, and agency theory. |
| 323 |
Seminar: Continuous-Time Finance (3) |
Bajeux-Besnainou, Savickas |
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Review of the stochastic calculus methods needed for continuous-time pricing models. The most important continuous-time models, including pricing of derivative securities, consumption-portfolio selection models, continuous-time capital asset pricing models, consumption-based capital asset pricing models, continuous-time arbitrage pricing theory, and different yield curve models. |
| 324 |
Seminar: Financial Markets and Institutions (3) |
Staff |
| |
Multi-period asset pricing, term structure of interest rates, market imperfections and institutional factors, auctions, manipulation, derivative markets, market microstructure, and financial institutions. |
| 397 |
Doctoral Seminar (1 to 3) |
Staff |
| 398 |
Advanced Reading and Research (arr.) |
Staff |
| |
Limited to doctoral candidates preparing for the general examination. May be repeated for credit. |
| 399 |
Dissertation Research (arr.) |
Staff |
| |
Limited to doctoral candidates. May be repeated for credit. |
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