Course Requirements
Each candidate must be competent in financial accounting, economics, calculus and statistics prior to registration for the core courses. To ensure competence, students who have not completed the equivalent of principles of Accounting I and II at the undergraduate level will be required to take ACC 500. Students who do not pass a competency examination in calculus and statistics will be required to take GSB 420. Students who have not completed principles of macroeconomics and microeconomics will be required to take ECO 501 or ECO 555 (GSB 420 is a prerequisite for ECO 555).
Students complete the Master of Science in Finance by taking nine core courses and three elective courses in addition to the program prerequisites. At least two of these electives must be taken in finance and the third elective may be taken in the fields of accounting, economics or real estate as stated below.
Core Courses
Elective Requirement
Three elective courses are required, at least two of which must be Finance courses not numbered 798. One elective may be chosen from among courses in the departments of Accounting (except ACC 500), Economics (except 501 and 555), Real Estate and Finance, including FIN 798 or FIN 793 (Finance Internship).
Students who wish to take FIN 793 (Finance Internship) must receive approval from the Finance Department Internship Committee prior to enrollment. None of the M.S.F. Required Core Courses or required prerequisite courses are available for elective credit.
Degree Requirements
- Satisfactory completion of the college residency requirement.
- Satisfactory completion of the nine required courses.
- Satisfactory completion of three elective courses.
- All courses for credit toward the degree must be completed within six calendar years after the candidate’s first term of enrollment in the Kellstadt Graduate School of Business. After a lapse of six years a course is expired. An expired course is not acceptable for the purpose of satisfaction of degree requirements and is not applicable to the degree without the written approval of the director of the program or the Kellstadt Graduate School of Business.
ACC 500
FINANCIAL ACCOUNTING
This introduction to financial accounting provides both a theoretical foundation and an opportunity to apply accounting logic in increasingly complex situations. The accounting model and information processing cycle are developed. The content of the income statement, balance sheet, and statement of cash flows are studied in detail and analyzed.
Prerequisites:
MS in Taxation students are restricted from registering for this class.GSB 420
APPLIED QUANTITATIVE ANALYSIS
This course provides a comprehensive review of some basic mathematical and statistical methods and stresses their practical applications in business and economics. The course will equip the student with the quantitative skills required in the MBA program and will also provide a good foundation for addressing typical problems that arise in business. Additionally, the skills acquired in the course will also help the student prepare for the quantitative sections of professional exams, such as the CFA, the CPA and the CMA exams. This course will stress learning through applications/problem-solving using Excel and/or Minitab software for data analyses. However, the course must be analytical and theoretical to the extent that is necessary to develop a correct understanding of the topics presented. The topics covered in the course include relevant mathematical concepts: use of relevant functions and solving equations in unknowns, elementary calculus and graphing functions. It also focuses on relevant statistical concepts: probability theory, hypothesis testing, regression analysis and forecasting.
ECO 501
CONCEPTS OF MICRO AND MACRO ECONOMICS
This course investigates the basic elements of the economic way of thinking. Students will begin with models of the consumer and the producer, looking specifically at demand and supply, elasticity, measures of efficiency, production and cost theory, and the determination of price and quantity under different market structures. The remainder of the course is devoted to analyzing the economy as a whole, focusing on the determination of Gross Domestic Product, the role of money and monetary policy, labor markets and unemployment, price stability, and short-run fluctuations in output.
ECO 555
ECONOMICS FOR DECISION-MAKING
This course provides students with an opportunity to apply microeconomic principles to managerial decision-making. These principles include those underlying the theories of consumer choice, production and cost as they relate to decisions made by firms and households. Specific topics include consumer demand analysis and estimation; elasticity; production theory; cost structure and estimation; profit maximization; and the effect of market structure on pricing, output and profit.
Prerequisites:
GSB 420 is a prerequisite for this class.FIN 555
FINANCIAL MANAGEMENT
A study of the major decision areas faced by the corporate financial manager and their relationship to the goals of the firm's owners. Specific topics include capital budgeting, capital structure and the cost of capital, dividend policy, and current asset management.
Prerequisites:
ACC 500 and (ECO 555 or equivalents) and GSB 420 are a prerequisite for this class.FIN 617
QUANTITATIVE METHODS
A survey of mathematical and statistical techniques used in finance and representative applications.
Prerequisites:
FIN 555 is a prerequisite for this classFIN 523
INVESTMENT ANALYSIS
This course provides an overview of the investment environment for the institutional money manager. The market mechanism, market equilibrium, the relationship between risk and return and the valuation of various investment instruments are investigated.
Prerequisites:
FIN 555 and GSB 420 are prerequisites for this class.FIN 524
FINANCIAL STATEMENT ANALYSIS
This course develops financial analysis skills from the view of an outsider using a corporations publicly available financial statements. Techniques such as commonsizing, ration analysis, decomposition and the use of a comprehensive DuPont Model are used as a basis to teach analytical thought processes necessary to make projections for a company based on its financial statements. The use of spreadsheets as an analytical tool will be strongly emphasized.
Prerequisites:
FIN 555 and GSB 420 are prerequisites for this class.FIN 553
ADVANCED CORPORATE FINANCE
The analytical methods and quantitative decision models applicable to special areas of corporate finance are examined and studied in this course. These topic areas could include current asset management, convertible bonds, warrants, lease financing, mergers and consolidations or other current financial issues.
Prerequisites:
FIN 555 and GSB 420 are prerequisites for this class.FIN 562
RISK MANAGEMENT
This course is designed as an introduction to derivative instruments; their characteristics, their pricing, the market's infrastructure, trading mechanics, and applications. The course introduces the binomial pricing model, the Black & Scholes continuous time pricing model, the associated properties i.e. "the Greeks." and forward pricing. The course examines the characteristics and market infrastructure for each of the four derivative instruments: foreard, futures, options, and swaps. Then trading strategies and hedging applications for each of these instruments are discussed. The course concludes with an introduction to Value at Risk.
Prerequisites:
FIN 555 and GSB 420 are prerequisites for this class.FIN 662
DERIVATIVES VALUATION
This course is designed to be an advanced course that focuses on the pricing models for the four derivative instruments: forwards, futures, options and swaps. Fixed income modeling as it is related to swaps and caps also will be considered. The first part of the course is devoted to an in depth examination of the various pricing models: discrete, continuous time, as well as Monte Carlo simulation. Each model's properties are derived and discussed in detail. These models are then applied to a range of realistic pricing situations which include swaps, exotic options, credit derivatives and complex Value at Risk problems.
Prerequisites:
FIN 555 is a prerequisite for this classFIN 675
CASES IN INVESTMENTS AND FINANCIAL ENGINEERING
This course primarily uses case studies to illustrate the application of concepts learned in Fin 523 (Investments Analysis) and in Fin 662 (Derivatives Valuation). The topics covered in the course include - the term structure of interest rates - portfolio management, asset pricing, and market efficiency - portfolio performance evaluation - option pricing -management of interest-rate risk, credit risk, foreign-exchange risk, and liquidity & basis risk with options, forwards, futures, and swaps - enterprise risk management The course will hone the student's analytical and writing skills through group analyses of case studies and preparation of (case) write-ups.
FIN 501
ETHICS IN FINANCIAL MARKETS
This seminar course will examine both ethical issues and conflicts of interest that face financial decision makers in today's business world. The class will feature case studies and guest speakers as the key teaching tools, supplemented by short lectures and student simulations/exercises. Each class period will be devoted to a different contest in which to consider topical isssues. We will look at and discuss ethical issues facing financial services companies, corporates (both public and private), as well as not for profits. We will examine these issues, where applicable and relevant, from multiple perspectives: Board of Directors, Executive Management, Shareholders, Regulators, Suppliers and Customers, Competitors, Employees and Communities. Some of the discussion will purposefully consider the additional realities of differing culture and values in the international context. PREREQUISITE(S): FIN 523
FIN 793
INTERNSHIP
Knowledge acquired in the classroom is applied in an actual business environment through varied theoretical and basic assignments under supervision in industry, government or public finance.
FIN 798
SPECIAL TOPICS
Content and format of this course are variable. In-depth study of current issues in finance. Subject matter will be indicated in class schedule. Offered variably.
FIN 501
ETHICS IN FINANCIAL MARKETS
This seminar course will examine both ethical issues and conflicts of interest that face financial decision makers in today's business world. The class will feature case studies and guest speakers as the key teaching tools, supplemented by short lectures and student simulations/exercises. Each class period will be devoted to a different contest in which to consider topical isssues. We will look at and discuss ethical issues facing financial services companies, corporates (both public and private), as well as not for profits. We will examine these issues, where applicable and relevant, from multiple perspectives: Board of Directors, Executive Management, Shareholders, Regulators, Suppliers and Customers, Competitors, Employees and Communities. Some of the discussion will purposefully consider the additional realities of differing culture and values in the international context.
Prerequisites:
FIN 523 is a prerequisite for this class.