FINA 6121: Debt Markets, Interest Rates, and Hedging (2 credits)
Requirements: MBA student
Grading: A-F only
Bond valuation: yield conventions, spot/forward rates, term structure, binomial pricing, static/option-adjusted spread. Duration: PVBP, Macauley/modified/effective duration, convexity. Portfolio management, hedging: dedicated, immunization, horizon matching, contingent, indexing, portfolio insurance, hedging. Treasury market: role of Fed, auctions, primary dealers, market conventions, bills, notes, bonds, strips, repos. Fixed income markets: agency, corporate, private placement, securitization, municipal.
FINA 6122: Financial Management of Depository Institutions (2 credits)
Requirements:
Grading: A-F only
Commercial banks, other depository institutions. Asset/liability management, risk management, geographic expansion, investment banking, public policy issues. Lectures, student presentations, project.
FINA 6241: Corporate Finance Analysis and Decisions (4 credits)
Requirements: MBA student
Grading: A-F only
How capital structure and dividend policy affect business valuation and decisions. Using options to understand and value corporate financial decisions.
FINA 6242: Advanced Corporate Finance Analysis and Decisions (4 credits)
Requirements:
Grading: A-F only
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 credits)
Requirements: MBA student
Grading: A-F only
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: Equity Security Analysis (2 credits)
Requirements: MBA student
Grading: A-F only
Different approaches to valuing equity securities, relating each approach to basic valuation principles. Integration/accounting, industry analysis, macroeconomics analysis, finance valuation skills. Testing fundamental/technical approaches against indexed portfolios.
FINA 6323: Advanced Equity Securities Analysis (2 credits)
Requirements: MBA student
Grading: A-F only
Analytical/communication skills for equity security valuation. How companies improve performance, convince investors that improvements are sustainable. How rules for high-tech/internet stock valuation differ from rules for traditional equity security valuation.
FINA 6324: Securitization Markets (2 credits)
Requirements:
Grading: A-F only
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 6331: World Economy (4 credits)
Requirements:
Grading: A-F only
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 6541: Derivatives, Futures, and Options (2 credits)
Requirements: MBA student, FINA 6622
Grading: A-F only
This course is a continuation of FINA 6622 "Financial Risk Management." It covers more advanced models for pricing and hedging options, swaps, and credit derivatives. The course introduces the multi-period binomial tree model and the Black-Scholes model for replicating, valuing, and hedging options on stocks, commodities, and exchange rates.
FINA 6621: International Financial Management (2 credits)
Requirements: MBA student
Grading: A-F only
International financing issues, investment/currency risk management. Spot, forward, futures/options markets for foreign exchange. International financial system, exchange rate determination. Parity conditions, measuring/managing currency risk, multinational working capital management, multinational capital budgeting, cost of capital in emerging economies.
FINA 6622: Financial Risk Management (2 credits)
Requirements: MBA student, FINA 6121
Grading: A-F only
This course provides an introduction to financial derivatives, their valuation, and their use by corporations, investment managers, and financial institutions to manage financial risk. The course focuses on forwards, futures, and options on stocks, commodities, and exchange rates. It makes extensive use of the no-arbitrage principal and the binomial model for options to develop a solid foundation for understanding the value and risks in derivatives markets.
FINA 6801: Finance Independent Study (1 credit)
Requirements: MBA student
Grading: A-F only
