FIN4535 Fixed Income and Structured Products

4 General CreditsThis advanced quantitative course is designed for students interested in the sales and trading of fixed income securities and their related structured products, as well as students interested in fixed income portfolio management. Topics covered include: (i) bond pricing and day count conventions; (ii) relative value and yield curve construction; (iii) duration and convexity; (iv) pricing and hedging of interest rate swaps; (v) Treasury bond futures, conversion factors, and the concepts of cheapest-to-deliver and implied repo; (vi) the repo (GC and special) market; (vii) credit risk and the pricing of high yield bonds and credit default swaps; and (viii) securitization, mortgage-backed securities, and collateralized mortgage obligations. Course enrollment will be limited to enable extensive in-class usage of Bloomberg and other Cutler Center resources.

Prerequisites: SME2021

  • Program: Undergraduate
  • Division: Finance
  • Level: Advanced Elective (UGrad),Advanced Management (UGrad)
  • Course Number: FIN4535
  • Number of Credits: 4

FIN4570 Global Financial Management
4 General Elective Credits
The central theme of this course is how to manage the finances of a multinational firm. It devotes attention to managing the short-term finances of a multinational, including topics like centralizing cash management, netting, and transfer pricing. It then deals with long-term financial management of the multinational. That section includes capital budgeting in the multinational context, capital structure decisions, and also studies how a multinational can sometimes have a lower cost of capital than a single-country firm of the same size. The third major theme is how the multinational can optimize its relationship with the capital markets, including the national stock markets where its subsidiaries operate. This section includes a discussion of the opportunities created for multinational companies by international portfolio investment. If time permits, there will be a section on how to operate in countries with inconvertible or hyperinflationary currencies. The course deals with the international financial environment, meaning topics such as exchange rates, balance of payments, and cross-border capital flows, only to the extent necessary to put the financial decisions for firms operating in more than one currency into proper context.

Prerequisites: SME2021

  • Program: Undergraduate
  • Division: Finance
  • Level: Advanced Elective (UGrad),Advanced Management (UGrad)
  • Course Number: FIN4570
  • Number of Credits: 4

FIN4530 Investments
4 General Credits
This course is designed for students interested in investment or portfolio management. Students explore the simultaneous management of multiple securities, using statistical and other mathematical tools. Topics covered include: risk and return, allocation of risky assets, setting portfolio objectives and strategy, portfolio optimization, risk crafting, and portfolio performance evaluation. Through case studies, investment tools, projects, and readings, students will explore investment and portfolio theory and practice.

This course is typically offered in the following semesters: Fall


Prerequisites: SME2021 or FIN2000

  • Program: Undergraduate
  • Division: Finance
  • Level: Advanced Elective (UGrad),Advanced Management (UGrad)
  • Course Number: FIN4530
  • Number of Credits: 4

FIN4560 Options and Futures
4 General Credits

This course is an introduction to options, futures, and other derivative securities. We examine the nature of the instruments, the theory of how they are priced, and strategies in which they are used. Cases address applications in both investment management and corporate finance, covering such topics as risk management, financial engineering, speculation, and arbitrage.

This course is typically offered in the following semesters: Fall


Recommended: ACC3502


Prerequisites: SME2021 or FIN2000

  • Program: Undergraduate
  • Division: Finance
  • Level: Advanced Elective (UGrad),Advanced Management (UGrad)
  • Course Number: FIN4560
  • Number of Credits: 4

FIN2520 Personal Finance
4 General Credits
This course teaches students to negotiate the retail financial landscape, emphasizing issues that have a large impact on their future financial well-being. It assumes no financial knowledge other than first-year finance. The course covers topics such as understanding and appreciating the time value of money, the financial planning process, financing the purchase of a house and other consumer loans, saving for retirement and other goals, selecting a financial advisor, taxes, estate planning, behavioral finance and common investment scams. Specific investment products studied include mutual funds, exchange-traded funds, municipal bonds, alternative investments (including hedge funds, private equity funds, and commodities), annuities, and insurance products. Consideration will be given to the problem of an entrepreneur or start-up employee who has a substantial fraction of personal wealth invested in a single business venture, including evaluating stock-and option-based compensation plans. Over the duration of the course, students will work to develop a personal financial plan.

Prerequisites: SME2021

  • Program: Undergraduate
  • Division: Finance
  • Level: Advanced Elective (UGrad),Advanced Management (UGrad)
  • Course Number: FIN2520
  • Number of Credits: 4

SME2021 Finance
3 Intermediate Management CreditsSME finance is designed to develop student understanding of the role of finance in the management of a business venture. Effective financial management, whether performed by the general manager in a small business, or by the finance organization in a large corporation, is necessary if a venture is to succeed and grow. A successful financial manager must have skills, abilities, tools, and a theoretical understanding in many areas, including valuation, financial forecasting, capital budgeting, investor expectations regarding risk and return, the cost of investor supplied capital, and financial strategy. Student skills will be developed in all of these areas in the SME finance stream through readings, lectures, class discussions, exercises, and an analytical project. A successful financial manager must also understand the venture's economic environment, its products, services, and market position, its operational capabilities, and its organizational behavior characteristics. The SME finance stream will link financial management analysis and decisions to these other critical functional areas, so the student will understand its part in achieving overall success for the venture.

Prerequisites: ACC1000 and QTM1000

  • Program: Undergraduate
  • Division: Finance
  • Level: Intermediate Management (UGrad)
  • Course Number: SME2021
  • Number of Credits: 3

FIN2000 Finance

4 Intermediate Management Credits

**Students who took SME2021 cannot take this course as they are equivalent.**

FIN 2000 Principles of Finance helps students understand the role of Finance in the management of business ventures and in their daily lives. Effective financial management, whether performed by the general manager in a small business, or by the finance organization in a large corporation, is necessary for ventures to succeed and grow. A successful financial manager must have skills, tools, and perspectives in many areas, including valuation of stocks and bonds, capital budgeting, investment risk and return, the cost of investor-supplied capital, and capital structure. A successful financial manager also must appreciate the key characteristics of a venture - including its products, services, market position, and purpose - and the economic and social environment in which the venture operates. Accordingly, this course links financial analysis and decision-making to critical contextual factors, allowing students to understand the part played by Finance in the overall impact of ventures. Throughout the topic coverage, connections between managerial Finance and personal Finance are recognized and explored, facilitating development of essential financial literacy capabilities. Competency will be developed through readings, lectures, class discussions, and exercises.

Prerequisites: ACC1000 AND AQM1000

  • Program: Undergraduate
  • Division: Finance
  • Level: Intermediate Management (UGrad)
  • Course Number: FIN2000
  • Number of Credits: 4

FIN3565 Real Estate Development
4 General Credits
This course reviews the process by which value is created through real property improvement and modification. The course examines that real estate development process, exposing students to the critical steps and key decisions required to create, secure approvals, construct, lease, finance, and manage property improvements. Through case studies, related readings, and a final team project, students examine the perceived risks and potential returns of real estate development.

This course is typically offered in the following semesters: Fall


Prerequisites: FIN3555

  • Program: Undergraduate
  • Division: Finance
  • Level: Advanced Elective (UGrad),Advanced Management (UGrad)
  • Course Number: FIN3565
  • Number of Credits: 4

FIN4571 Real Estate Finance and Advanced Modeling

4 Advanced Management Credits

This course will address the practical and theoretical issues involved in estimating cash flows and values of a wide variety real property, financial interests, investment interests and deal structures using discounted cash flow (DCF) techniques and sensitivity analyses. Students will solve real estate cash flow and DCF problems using models for property, portfolio, debt and equity interests for a variety of commercial real estate property types. Students will learn and apply the detailed modeling applications necessary to estimate both cash flows and values in the world of real estate finance and capital markets. Students will use and learn both Excel and industry standard ARGUS software applications in the process of modeling lease by lease cash flows at the property level, portfolio cash flow consolidations, related debt structures, including first mortgage and mezzanine debt, and equity waterfall structures. ARGUS is a widely accepted unique and complex modeling software that is very frequently required by employers in real estate finance. This course includes explanations of the theoretical issues and concepts involved in these practical applications. This course is intended for students who have an interest in real estate or who desire to expand their knowledge of finance to include real estate.

Prerequisites: SME2021

  • Program: Undergraduate
  • Division: Finance
  • Level: Advanced Elective (UGrad),Advanced Management (UGrad)
  • Course Number: FIN4571
  • Number of Credits: 4

FIN3555 Real Estate Investment
4 General Elective Credits
This course is designed for students interested in learning to evaluate real estate investment opportunities. The focus is on commercial property, not single-family homes, and on U.S. real estate. Using readings and case studies, students examine real estate as an asset class and explore its similarities and differences from other investment types. The foundation for this course involves understanding the industry terminology, legal rights and restrictions, and basic techniques for financial projections and analysis.


Expanding from this base, students explore the use of debt and the implications of taxes on real estate investment returns.

Prerequisites: SME2021

  • Program: Undergraduate
  • Division: Finance
  • Level: Advanced Elective (UGrad),Advanced Management (UGrad)
  • Course Number: FIN3555
  • Number of Credits: 4