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PROGRAMS OF STUDY & COURSE DESCRIPTIONS
Finance (FIN)

Major: Sy Syms School
Business core (12 courses; 36 credits): ACC 1001, 1002; BLW 2021; ECO 1011, 1021, 1221; FIN 1001; INF 1020 or 1030; MAN 1020; MAR 1001; STB 1131; 1456, FIN 1408, 2505; two courses chosen from 2409, 2521, 3510; one chosen from 2511 or 3851, and one from 2508, 3011, 3015, 3020, 3301, 3310, 3401, 3603, or 3932 (18 credits); Business electives: three courses chosen from ACC, ENT, INF, MAN, MAR, REA (9 credits); and FIN 4970.

Minor: Sy Syms School
Five courses chosen from FIN 1408, 2409, 2505, 2508, 2511, 2521, 3011, 3015, 3020, 3301, 3510, 3851, 3603, 3851, 3932 (15 credits).

1001 Principles of Finance. 3 credits.
Introductory survey of the fundamentals of financial management, financial analysis, and the securities markets. Provides a general understanding of financial institutions, terms and rights of stockholders and bondholders, and the corporate financial structure. Covers sources and uses of capital, debt versus equity, present value techniques, valuation, capital asset pricing, and capital budgeting.
Prerequisite or corequisite for finance majors: ACC 1001.

1408 Corporate Finance. 3 credits.
Introduction to the principles and techniques of corporate financial management; financial analysis, pro forma financial statement forecasting, firm value optimization and valuation models, capital structure, stock price valuation, bond pricing and returns, compounding and discounting, cash budgeting, working capital, risk and return, capital budgeting techniques, long- and short-term financing decisions, leverage, dividend policy, the cost of capital. Problems and applications utilizing commercially available computer software.
Prerequisite: FIN 1001.
Prerequisite or corequisite: ACC 1002.

2409 Advanced Corporate Finance. 3 credits.
The corporate finance function and decision-making process. Course examines specialized topics and may utilize case presentations. Evaluation of capital expenditure proposals, risk/return, diversification, capital structure, investment and financing decisions, capital markets, cash and credit management, mergers, acquisitions, LBOs, and global financial strategies.
Prerequisite: FIN 1408.
Prerequisite or corequisite: STB 1456.

2505 Investment Analysis. 3 credits.
Features and characteristics of available investment opportunities; fundamental principles for choosing sound investment vehicles to meet investor risk/return objectives. Stocks, bonds, warrants, convertibles, preferreds, municipal bonds, governments, options, and futures are defined and analyzed, utilizing fundamental technical and portfolio optimization techniques. Implementation of investment research using PC and mainframe databases and software.
Prerequisite: FIN 1001.
Prerequisite or corequisite: ACC 1002.

2508 Entrepreneurial Finance. 3 credits.
    (Same as ENT 2508).
How entrepreneurs secure financing for their business ventures: sources of funding such as investors, venture capital, SBA loans, asset-based financing, lines of credit. Creation of business plans and loan proposals, development of cash-flow projections, and the evaluation of loan requests by lender/investors.
Prerequisite: FIN 1001.

2511 Security Analysis. 3 credits.
The role and activities of the equity analyst. Cases and lectures help develop students’ analytical skills and appreciation of the usefulness and limitations of financial statements. Various approaches to equity valuation are considered.
Prerequisite: FIN 1408 or 2505.
Prerequisites or corequisites: ACC 1001, ACC 1002.

2521 Portfolio Management. 3 credits.
Theoretical analysis and practical applications of modern portfolio theory to individual and institutional portfolio management; optimal asset selection and allocation decisions, portfolio mix, and the evaluation of portfolio performance; Markowitz diversification, single and multi-index models, capital market theory, capital asset pricing, arbitrage pricing, fixed-income securities, and options strategies. Implementation of portfolio optimization design using PC and mainframe databases and software.
Prerequisite: FIN 2505.
Prerequisite or corequisite: STB 1456.

2711 Venture Capital. 2 credits.
    (Same as ENT 2711).
Past, current and future state of venture capital. Presents the fundamentals of entrepreneurship while maintaining a strong emphasis on the current state of affairs. Active participation by guest speakers who are prosperous entrepreneurs. Students gain information not found in any textbook to apply to the successful operation of their own businesses.
Prerequisite: FIN 1001.

3011 Principles of Insurance. 3 credits.
Discusses the basic principles of the field of insurance and risk management, including ethical, financial, social, economic, and political issues. Students analyze institutional aspects of risk management to allow the business or individual to minimize financial loss from unforeseen courses.
Prerequisite: FIN 1001.

3015 Global Insurance & Risk Management. 3 credits.
A comprehensive study of insurance and risk management in a global context. Systematic examination of various environmental factors (economic, financial, political/ legal, regulatory/tax, demographic/sociocultural, and physical/technological), and the patterns and degrees of change associated with each. Course objective is to provide students with technical and managerial skills suitable for use in the rapidly changing global setting of insurance and risk management. Major ethical, social, and political issues are examined. Current events and trends are noted throughout; students follow the performance of a selected portfolio of global insurance stocks.
Prerequisite: FIN 1001.

3020 Financial and Estate Planning. 3 credits.
A comprehensive study of personal management from the individual consumer, family, and small-business points of view, with a life-cycle perspective. The course Explores 1) financial goals and objectives, budgets and other tools, money and money management, borrowing and debt management, tax planning, and housing; 2) personal risk management and insurance (life, health, property, and liability); 3) stocks, bonds, mutual funds, and other investments; and 4) retirement and estate planning.
Prerequisite: FIN 1001.

3301 Historical Development of Modern Finance. 3 credits.
An examination of the historical development of financial institutions and markets from the Middle Ages to the present. Focuses specifically on the contributions of key Jewish individuals and families, such as Bernard Baruch, Alex Brown, Goldman Sachs, Lehman, Loeb, Rothschild, Schiff, and Warburg.
Prerequisite: FIN 1001.

3310 History of Merchant Banking. 3 credits.
Examines the historical development of modern investment banking. Merchant banking and private banking. Emphasis on the United States and the United Kingdom from 1815 to the present, and the fiscal, monetary, political, technological, banking, and financial market developments and issues that have affected such specialized financial intermediaries.
Prerequisite: FIN 1001.

3401 Business Forecasting. 3 credits.
Promotes strong fundamental understanding of forecasting techniques and their application to business. Covers simple linear regression, multiple regression, and logistic regression, and introduces time-series models. Discussion of the derivation of various models; development of the understanding needed to apply them to real-life business problems.
Prerequisites: FIN 1001, STB 1131.

3510 Speculative Markets: Futures Markets and Options. 3 credits.
Comprehensive overview of commodities, financial futures, and options on futures. The market microstructure and its evolution, trading applications, and the use of technical and fundamental analysis; exchange operations. Trading mechanics, hedging and speculation, price forecasting, testing and optimizing trading systems, performance spreading, and option pricing theory. Students implement a PC commodity-market simulator.
Prerequisite: FIN 1408 or 2505
Prerequisite or corequisite: STB 1456.

3603 International Finance. 3 credits.
Analysis of special topics in international finance, including international capital flows, theories of foreign exchange-rate determinations, Eurocurrency and Eurobond markets, and integration of multinational markets.
Prerequisite: FIN 1001.

3851 Financial Statement Analysis. 3 credits.
    (Same as ACC 3851).
Designed primarily for non-accounting majors. Methods of communicating information about financing and operating activities of corporations, and techniques for analyzing and evaluating that information.
Prerequisites: ACC 1002, FIN 1001.

3932 Capital Markets and Financial Institutions. 3 credits.
Structure and evolution of financial institutions; role of financial markets in allocating funds and absorbing risk; relationships among markets; financial intermediation.
Prerequisites: ECO 1011, ECO 1021; and ECO 1221 or FIN 1001.

4970 Senior Research Paper. One hour. No credit.
An individualized approach to assisting each student in selecting a topic for, designing, and completing the senior research paper required for graduation. Students work one-on-one with faculty members in their respective disciplines.
Prerequisite: senior status.

6806 Financial Statement Analysis. 3 credits.
In-depth interpretation of financial statements for decision makers. Explores traditional methods of analysis as well as the impact of accounting conventions.
Prerequisites: ACC 3201, ACC 3601.