This course develops core competencies that all finance graduates regardless of area of specialization should possess. Topics include foreign exchange markets, interest rate risk measures, term structure theory,introductory option pricing, futures markets, swaps, and valuation. This course is required of all MBA students seeking a major or a concentration in finance as well as all M.S. in finance students. This course is a prerequisite for all other finance electives except FI 8020 and FI 8040 and may be taken in the same semester as MBA 8135.

This course provides students with the skills to analyze a business, determine its funding needs, and design a financing structure to satisfy those needs (primarily, private debt instruments). There is minimal discussion of pricing; the focus is credit analysis. The principal teaching method is case analysis, and a significant course objective is the development of logical thinking and communication skills. The case mix includes companies of all sizes including small- and medium-sized firms. Students have the opportunity to evaluate the needs of a variety of businesses that differ with respect to type, industry, profitability, growth, cyclicality, and degree of distress.

This course surveys the conceptual and institutional aspects of financial decision making in multinational firms in a global economic environment. The students are introduced to foreign exchange risk with special emphasis on the mechanics of foreign exchange and related derivatives markets as well as the parity conditions in international finance. Institutional realities of regional economic blocks, foreign exchanges regimes, euro markets, and balance of payments are discussed to highlight their impact on financial management.

This course allows for in-depth analysis of select, topical issues in finance. Coverage is drawn from current issues in financial markets that do not necessarily require an entire semester of study. As examples, topics could include corporate governance, executive compensation, financial market regulation, and financial system reform. Reliance is placed on authoritative faculty having specific expertise in a topic area, readings from the current professional literature, guest speakers, case studies, and group projects. The topic of each offering will be announced in advance, and students may take this course multiple times for course credit as different topics are covered.

Co-rerequisite: MBA 8135. This course addresses the leadership, design, and organization of the finance function in a modern corporation for effectively promoting the development of human capital and firm value. First, an economics-based framework for leading and organizing a finance department is established with a focus on the optimal assignment of decision rights, the design and alignment of incentive and compensation systems, and performance review and evaluation. Next, a bridge is built between economic theory and practice with the use of case studies and guest speakers representing leading corporate organizations.

This course provides the foundation for financial data analytics. Students will develop knowledge of data analytics modeling aimed at addressing a range of financial questions in practice. The objective of this course is to gain experience in analyzing financial data using modern machine learning techniques, statistical methods, and prediction models. Students will perform data analysis using a statistical programming environment. Students will have hands-on experience on the development of data analytics applications.

This course focuses on the valuation, uses, and regulation of derivative instruments-contracts or agreements whose values derive from the prices of underlying assets such as equities, commodities, interest rates, and currencies. The course is presented from the perspective of corporate risk managers and institutional professionals who use these valuable risk-shifting instruments for controlling market risks. Coverage is presented of both exchange and off-exchange derivatives including futures, options, forwards and swaps, and structured products such as hybrid debt having embedded derivative features. The course keeps abreast of global trends, trading developments such as electronic markets, and new products such as electricity, weather, bandwidth, and credit derivatives.

This course explores in greater depth than possible in FI 8000 the practical aspects of investment valuation and portfolio management in a global framework. The focus is on market microstructure, bond- and equity-portfolio management and overall asset allocation. Practical aspects of portfolio management are introduced through lectures and class discussions of journal articles and cases.

This is an advanced graduate elective course on hedge funds, which have emerged as popular investment vehicles. The course will cover institutional topics including the history and evolution of hedge funds, the differences between hedge funds and mutual funds, funds of hedge funds, and key sources of information such as databases, indices, and benchmarks. The course will investigate hedge fund risk-return characteristics, performance evaluation, risk management, asset allocation, and managerial compensation. Trading strategies to be considered will include long-short equity, merger arbitrage, relative value arbitrage, convertible arbitrage, fixed income arbitrage, and trend-following.

This course develops a framework and tools for analyzing corporate investment and financing decisions. Students become familiar with the cutting-edge techniques for evaluating capital investments, the central issues in capital structure and dividend policy decisions, and the interaction between financing and investment decisions. Techniques covered provide the tools necessary to evaluate strategic investments in technology, mergers and acquisitions, corporate restructurings, and research and development. Skills are developed for the valuation of firms in traditional and new technology industries as well as security offerings such as initial public offerings. Reliance is placed on a variety of pedagogical vehicles including problem solving, case studies, lectures, and group projects.

This course covers the three distinct activities of investment banking: (1) underwriting- new issues of securities, (2) fee banking-activities that earn a fee like advising on corporate restructurings, securities and economic research, and other types of financial consulting, and (3) transactions- trading in the secondary markets, proprietary trading for the firms own account, and retail brokerage. The emphasis of the course will be on equity underwriting and advising in orporate restructuring activities. It will also focus on the principles of firm valuation. These tools will be used to value, for example, an initial public offering firm, the target firm in a takeover contest, and a leveraged buyout firm.

This course uses a combination of lectures, case analyses, class discussion, and team projects to develop the ability and skills necessary to make strategic financial decisions within the firm. The emphasis is on investment and financial decision-making and their impact on firm value; capital market imperfections and their impact on the capital acquisition process; and corporate governance and its impact on firm value. Specific topics will vary according to current relevance and may include the estimation of divisional cost of capital, project analysis including flexibility and real options, incentive alignment, corporate governance, and the influence of alternative financing choices on firm value.

This is an advanced course examining corporate restructuring. It exposes students to a broad range of restructuring strategies that can be employed to increase firm value. Class coverage and case discussions will illustrate how the various corporate restructuring strategies can be used to improve firm performance. The course begins with a brief consideration of mergers and acquisitions. It then focuses on restructuring strategies available to individual firms to improve their competitive situation and enhance shareholder value. Topics here include spin-offs, equity carve-outs, split-offs, sell-offs, leveraged recapitalizations and LBOs. This is followed by a consideration of restructuring of financially distressed firms under both out of court and formal bankruptcy circumstances.

This seminar-style course allows for in-depth study of select corporate finance topics of special current significance. Coverage is drawn from cutting-edge issues such as the capital acquisition process, investment banking, venture capital financing, the financial management of the e-commerce firm, corporate control, international capital budgeting and financing, project finance, corporate reorganizations and restructuring, corporate governance, and the interaction of product-market strategies and financial strategies. Reliance is placed on readings from the professional literature, lectures, case studies, and group projects. The topic of each offering will be announced in advance, and students may take this course multiple times for course credit as different topics are offered.

The field study is a supervised, employer-site learning ex- perience that provides students the opportunity to learn and apply finance skills in a professional setting. Partici- pating students are expected to work a designated number of hours each week, to attend education lectures and seminars, and to submit assignments, projects and term papers. The field study is typically non-paid; students will receive course credit. Participating students will be selected through a competitive review.

Cross listed with MGS 8410. This study abroad program provides an opportunity to examine the business climate in foreign markets, with field experience in a specific foreign market. Students will gain insight into financial and managerial issues, with emphasis on the capital structure of firms, the organization of financial markets, and cross-cultural influence on corporate governance practices and managerial decision making and entrepreneurship. The in-country experience will allow students to observe and discuss first-hand how companies work within that market.

This is a macro-finance course, focusing on the broad issue of funds flows through the entire economy. The course analyzes the dynamic and complex pattern of world-wide funds flows, the identity of the major players in the system and the factors influencing their behavior in financial markets, the basis for the myriad financial assets available, the crucial importance of a well-developed financial system for economic development, the influence of the legal/regulatory system, and financial innovation. Special attention is placed on the structure and role of interest rates.

This course allows for in-depth study of select finance and banking topics of global significance. Coverage is drawn from cutting-edge issues such as the global financial architecture, the management of risk exposures (market/credit/operational/other risks), financial value chains, regulatory frameworks and developments, project financing decisions, corporate governance, and the interaction of product-market strategies and financial strategies. Topic coverage will also include newer developments in the financial world such as, for example, Islamic banking, microfinance, peer-to-peer lending, or credit derivatives.

This course introduces the student to a financial analysis of the major agents in the economy – the household; small business; publicly-traded corporation; and the financial institution. The major elements of value, stock and flow are critically examined for each of the agents with analytical emphasis given to financial concepts such as cash versus accrual accounting, fair value, and financial accounting principles. The course also examines the structure and economics of the investment and wealth advisory business, evaluating the intersection of the demand for services with the supply. Integration of the various elements of asset and wealth management is done through a course project.

Financial technology (FinTech) is revolutionary and rapidly changing the financial services industries. This course provides an introduction to FinTech such as blockchain, cryptocurrencies (e.g., Bitcoin and Ethereum), alternative lending, machine learning, and robo-advising. Students are expected to develop a broad understanding of the recent FinTech development and its impact in the financial industries. Students will also have hands-on and problem solving experiences that can be useful in FinTech applications and innovation. Topics may include but are not limited to: blockchain and cryptocurrencies, smart contracts and their markets, alternative lending and crowdfunding, machine learning and its applications in FinTech.

This course acquaints students with the modern theory of asset valuation. Topics covered may include the relationship between no-arbitrage conditions and the existence of equilibrium pricing measures, spanning, market completeness and the uniqueness of the pricing functional, and the pricing of derivative securities in both continuous-time and discrete-time stochastic economies. The specific topics covered depend on the instructor and the needs of the students.

This seminar exposes the student to the basic theoretical paradigms of contemporary investments research. Topics which may be covered include portfolio theory, two-fund separation, mean-variance analysis, contingent-claim pricing, consumption-based asset pricing theory, asset pricing in a rational expectations setting, and the microstructure of securities markets. The specific topics covered depend the instructor and the needs of the students.

This course acquaints students with theoretical and empirical research in corporate finance. Topics covered may include the effect of taxes and transactions costs on corporate capital structure, bondholder-stockholder and stockholder-manager agency conflicts, the effect of informational asymmetry between firms and outside investors on financial decisions, the design of securities, the design of optimal control mechanisms, theory of corporate control, bankruptcy and corporate restructuring, shareholder heterogeneity, and corporate governance. The specific topics covered depend on the instructor and the needs of the students.

This course develops the theory of the financial markets and institutions which link suppliers and users of investment capital. Topics which may be covered include: the reasons for the existence of financial intermediaries, productivity of financial institutions, the determinants of interest rates, the pricing of interest-rate-contingent instruments, optimal regulatory policies for financial institutions, the capital structure and hedging policies of institutions, market microstructure and non-depository financial intermediation, bank credit policies and credit rationing, macro finance, and the role of intermediaries in supplying liquidity. The specific topics covered depend on the instructor and the needs of the students.

This doctoral-level course is devoted to analyzing significant topics in finance research. Topics covered in the course will vary across a wide spectrum of possible areas and methodologies in finance research. The course may be repeated when the topics vary.