Curriculum

Corporate financial accounting is concerned with the form and content of the information firms disclose to external parties (e.g., shareholders). In the United States, financial reporting is based on generally accepted accounting principles (GAAP) set by the Financial Accounting Standards Board (FASB). GAAP define the accounting methods and disclosure practices that firms select from when providing financial statements to external parties. This course covers these principles and other important financial reporting practices. The primary focus of the course is developing the skills required to interpret and analyze financial information, rather than the skills required to prepare financial statements. Upon completion of the course, students will appreciate how financial accounting information is used in contracts between parties (e.g., lenders and the firm) and to evaluate a firm’s past performance and potential future performance.

This course expands and develops students’ analytical tool kit through “hands-on” training in the effective use of spreadsheet-based tools for advanced managerial analysis. Students perform quantitative analysis of advanced problems. The course enhances and reinforces the analytical skills taught in previous modeling coursework, such as formulating and solving large-scale business problems using quantitative models, risk simulation, and sensitivity analysis. Spreadsheet tools introduced in this class include optimization and simulation. Students who successfully complete the course should possess cutting-edge skills in spreadsheet business modeling and analysis.

Investments includes discussion of the efficient-markets theory of the dynamic behavior of prices in speculative markets, along with empirical evidence for the validity of the theory; evaluation of the implications of the efficient-markets theory for the profitability of alternative investment strategies; exploration of the implications of portfolio theory for equilibrium asset prices and the measurement of risk; emphasis on the empirical evidence for various mean-variance and multifactor models of asset pricing and the use of these models for evaluating portfolio performance; and introduction to special topics in financial markets, such as arbitrage pricing theory, and options and futures contracts.

This course provides an intensive analysis of the effects of various corporate financial policy decisions on the value of the firm, including a discussion of the effects of taxes, bankruptcy costs, agency costs, and asymmetric information on these decisions. It then examines the interrelation of financing policy with payout policies, trade credit, executive compensation, leasing, and hedging. The course provides an understanding of the theoretical issues involved in the choice of these policies.

This course provides intensive study of the fundamental ideas of option-pricing theory and their application to options, financial futures, and other securities; analysis of hedging with forward and futures contracts; development of the Black-Scholes option-pricing formula, its uses and modifications, and generalizations of the model; and discussion of the structure and organization of options and futures markets, and the exploration of empirical evidence on the validity of option-pricing models. Analyses of the pricing of options on futures, foreign currency, portfolios and indexes, commodity prices, bond prices, and interest rates are included as time permits.

This course serves as an introduction to the theory and practice of corporate finance. It provides a market-oriented framework for analyzing the investment and financing decisions made by corporations. The two major questions, which this course aims to answer, are: 1) How do corporate managers decide which projects to undertake?; and 2) How do they decide how to finance these projects? Topics discussed include valuation of financial assets, capital budgeting techniques, theories of capital structure, and capital market efficiency.

In FIN465, students will engage in a finance-focused business project, bringing together the knowledge and skills developed throughout the program. Students will work on real world projects provided by a sponsoring organization. Student project teams will work with faculty coaches and any other relevant technical experts to complete their work for presentation and delivery to the client at the end of the course. This course provides the opportunity to utilize the skills gained during the program to execute a real-world capstone project. 
 

This course equips MS students with statistical skills necessary for data-driven decision making. The course covers central tendency and variability, probability, binomial and normal distributions, standard scores, hypothesis testing, z and t tests, ANOVA, correlation and regression, and non-parametric tests.

This course introduces and provides a foundation for Python. Students will continue to build on their Python programming language skills throughout the MS Finance program.

MGC 461 is based on classical principles of argument and persuasion and current communication research that reveals the keys to having influence in a global business world. Its goal is to develop professional-level presentation skills, individually and in teams. The course is performance based; all class sessions require students to speak and interact extensively. Over two mini-semesters, students develop professional presentation skills through four individual and two team-based speaking assignments, for which they receive extensive, individualized feedback. They also learn a systematic process for assessing their own communication, and for giving feedback to others. At the end of the course students will have developed skills key to success in any field: the ability to adapt effectively to a given audience, and to express ideas with an appropriate combination of logic and feeling.

The objective of this course is to develop and sharpen your analytical ability to use financial information to perform various types of applied economic and financial analysis. Managers formulate a firm’s business strategy and make operating, investing, and financing policy decisions to implement that strategy. The outcomes of those decisions are reflected in the firm’s financial statements, which, along with other financial information, are used by equity and debt analysts, investors, lenders, creditors, bondholders, loan officers, debt-rating agencies, and numerous other external parties to evaluate the firm’s current economic performance and forecast its future economic performance.
 

Macroeconomics is the study of how economies grow and fluctuate over time, and how they interact with one another. In this course, we discuss economic measurement, economic growth, and the business cycle. We also explore the implications of modern theories of growth and fluctuation for the conduct of monetary policy and fiscal policy.

There is a strong emphasis on the international linkage among economies and the implications of macroeconomics for the business environment.

This course introduces the field of AI to business students with a particular emphasis on deep learning, which is driving the current AI revolution. The course consists of three modules:
1.    Foundations of AI and Deep Learning – Establishes the foundation of AI and deep learning.
2.    Neural Network Architectures – Introduces major neural network architectures widely used in practice.
3.    Generative AI – Touches on generative AI, which is particularly promising in recent years.
The course emphasizes experiential learning and contains many hands-on projects using TensorFlow broadly and Keras in particular.
 

The objective of this course is to equip you with the frameworks, tools, and methodologies necessary to build and/or be an educated user of quantitative models for financial decision making. The course is suitable for students seeking a career in finance, but also for students with broader interests who wish to strengthen their general modeling skills. It does not require any quantitative background other than what is covered in the MBA core courses.

Master modeling frameworks such as regression analysis, Monte-Carlo simulation, optimization, and binomial trees. Learn how to apply these frameworks in financial contexts such as portfolio management, term-structure estimation, capital budgeting, risk measurement, risk analysis in discounted cash flow models, and pricing of European, American, exotic, and real options. The modeling tools will be illustrated by applying them to a variety of real-world cases.

The course will provide students with a fundamental understanding of the principles and analytics of asset management as applied to both institutional and private clients. It should be of great interest to anyone aspiring to a career in asset, portfolio, private wealth, endowment, foundation, sovereign wealth, or pension fund management. A fundamental understanding of the issues in asset management, whether institutional or private, will also be helpful in other areas of finance such as investment banking, insurance, accounting, and personal finance, as well as operations and marketing in these types of firms. In addition, students will learn how to better manage their future personal wealth.

This class will focus on the more practical aspects of asset management to prepare students for the actual demands of a job in the industry. The course will also describe the challenges in managing such portfolios from the perspective of an institutional or individual investor and a fund manager (public equity, fixed income, hedge, or liquid).

“Prepare for the dark while it is light.” In an era marked by significant economic uncertainty and rapid technological advancements, the ability to identify, measure, and mitigate financial risks has become indispensable for finance professionals.

This course delves into the multifaceted landscape of financial risk management, covering a broad range of topics including market risk, credit risk, liquidity risk, and operational risk. Through a combination of theoretical frameworks, case studies, and practical applications, students will develop a deep understanding of the various types of risks faced by corporations and financial institutions, as well as the tools and methodologies employed to manage them effectively.

This course explores selected topics in the management of equity portfolios. Course content may vary from year to year. Topics include: active portfolio management with particular emphasis on risk analysis, multifactor risk/return models, performance evaluation, and style analysis. The course also considers issues and evidence on different forms of market structure and trading systems, including the role of specialists/dealers, optimal trading behavior for institutions, price impact of trades, and related information technology. Extensive use is made of investment software.

 This course is a comprehensive graduate course in corporate finance that is taught using in-class lectures, class notes, and cases, each of which requires a team report and negotiated deals involving cooperation and competition with other teams. The subjects covered include corporate valuation as applied to friendly mergers and hostile takeovers. We will also cover relevant issues in securities regulation, insider trading law, and corporate governance law.

This course will enable students to acquire a good understanding of the fundamental causes of restructuring events, the legal framework in which restructuring occurs, and the likely consequences and risks involved in pursuing various restructuring strategies. After taking the course, students will be capable of deriving the value of securities issued by firms undergoing restructuring events (with a particular focus on distressed firms). They will learn about famous restructuring cases and controversies and will be exposed to the views of guest speakers who pursued careers in M&A and restructuring.

The Private Equity and Venture Capital (PE/VC) industry is more in the popular press than ever before; funds are larger and more diverse than in any past generation, deals are bigger, scope is worldwide, and wealth generation seems to be at levels heretofore unseen. Many argue that PE/VC drives major segments of national economies more than ever before and that it is essential that the industry is better understood and weighed more heavily in the thinking and plans of policymakers in government and commerce. This course provides exposure to what PE/VC is and how it works. We cover, among other things, the makeup of funds, the composition and operation of PE/VC firms, deal sourcing, due diligence and investment processes, and the roles of partnerships, GPs, LPs, ‘activists,’ and boards. At a higher level, we cover industry performance and competition, fund creation, some international aspects of the business, and differing approaches to financing in different alternative asset categories.

This course provides an introduction to financial theories and tools an entrepreneur needs to start, build, and harvest a successful venture. Cases and lectures will cover business evaluation and valuation, including the venture capital and the real option approach, financing, venture capital funds, compensation structures, and exit strategies.

This course provides an introduction to the evolving use of technology in financial markets and applications. One area of focus is “blockchain” technology in financial transactions, markets, permanent historical records, and cryptocurrencies. The other major area of focus is innovations such as peer-to-peer transactions and the use of artificial intelligence in evaluating and funding investments. Throughout we will consider the prospects for the success of the new technologies, asking questions such as: How revolutionary are the various parts of Fintech? What are the hidden pitfalls of the technology/business models to individuals, companies, and/or society? How will major financial institutions and governments react? What changes are required in legal rules (including internationally) to accommodate Fintech? The course will require working with large data sets (the blockchain) and specific cryptocurrency implementations. While computer programming skills are not required as a pre-requisite, success in the course will require that students learn the basics of the computer science concepts of public-key cryptography, data verification, and simple programming structures (loops, branching).

The objective of this course is to undertake a rigorous study of fixed-income securities and markets. A variety of fixed-income securities will be discussed, including coupon bonds, callable and putable bonds, sinking fund provisions, and floating rate notes. Interest rate derivatives such as forwards and futures on fixed-income securities, bond options, options on bond futures, caps, floors, and collars will also be discussed.

In addition, we will study some tools that are useful in bond portfolio management, including horizon analysis, duration, optimization techniques for constructing bond portfolios, and models for pricing fixed-income securities. While the perspective of this course is from the viewpoint of a bond investor, a person in corporate finance needs to understand similar material. Evaluating an investment in a fixed-income security is the mirror image of the problem faced by a corporation in deciding whether or not to issue a bond.

GBA 478 covers the application of generative AI technologies across diverse business contexts. The course will help you understand how to integrate generative AI into today’s business workflows, providing frameworks to decide when and how to use it effectively. You’ll gain hands-on experience designing generative AI tools to create business value and programming basic LLM-driven applications in Python.

Finally, the course will ask you to become conversant with the big questions about generative AI, debating the moral, philosophical, and ethical challenges inherent in these systems and technologies.