FinanceAnand S. Desai,* Head
Professor Graham;* Associate Professors Desai* and Tavakkol;* Assistant Professors Warr, B. Van Ness,* and R. Van Ness;* Instructors Kruse and Sheppard. Emeriti Professors Chalmers, Hollinger and Richards.
The finance curriculum allows the student to specialize in financial management, financial controllership, or financial services.
The financial management track provides the student with the analytical skills for the analysis, evaluation, and reporting of financial information. These activities are ultimately used in managerial decision making by businesses and regulatory agencies. This track is designed for graduates who wish to pursue a career as a financial manager or analyst.
The financial controllership track supplements the analytical focus of the financial management track with additional accounting skills. This track is designed for those who intend to pursue careers related to the controllership function of a firm.
The financial services track provides a broad knowledge of financial markets, institutions, and services and prepares the student for providing financial products and services to the consumer. Graduates in this track typically seek careers in banking, consumer lending, brokerage services, financial planning, portfolio management, and real estate.
Finance majors are expected to develop a broad understanding of business management, accounting, economic theory, management information systems, and quantitative techniques. In addition, effective written and oral communication skills and the ability to work in groups are essential for a successful career in finance. The curriculum of the Department of Finance is designed to help the student develop these necessary skills through active learning methods.
Requirements for major
FINAN 450. Principles of Finance. (3) I, II, S. A general overview of the major areas of finance: introduction to financial institutions, markets, and investments; essentials of investments theory, including concepts of risk, return, and valuation of financial assets; and applications to corporate investments and financing decisions. Pr.: ECON 120, STAT 350, and ACCTG 231.
FINAN 453. Careers in Finance. (1) I, II. An overview of the various types of career opportunities available in the field of finance, and how to prepare for them. Should be taken prior to first semester of senior year. Pr.: Junior standing.
FINAN 460. Insurance. (3) I. A study of life, property, casualty, and health insurance from the purchaser's point of view with additional emphasis on the operation and contribution of the insurance industry. Pr.: ECON 110.
FINAN 498. Problems in Finance. (Var.) I, II, S. Internship program and selected projects appropriate to the student's program of study. Pr.: Consent of department head based on background courses appropriate to the project selected.
510. Debt of Securities and Markets. (3) I, II. An analysis of the
features, valuation and use of debt securities issued by both businesses and
governments, from the investor's point of view. The determinants of
interest rates and the impact of inflation on asset returns. Applications to the
management of bond portfolios and the use of derivatives of debt securities will
be discussed. Pr.: FINAN 450. Maybe taken concurrently with FINAN 520.
FINAN 531. Commercial Banking. (3) II. An application of financial management concepts to the liquidity management, investment portfolio analysis, capital budgeting, and capital structure decision-making process required by a commercial bank to perform effectively its financial intermediation role within the financial system's institutional, regulatory, and competitive environment. Pr.: FINAN 450.
FINAN 552. Real Estate. (3) II. Principles and practices including legal, economic, and social implications from the viewpoint of the real estate practitioner, investor, and society. Pr.: Junior standing.
FINAN 561. Financing Emerging Businesses. (3) II. A study of the business environment. Methods of organizing and financing emerging businesses, investment, valuation, and financial planning from the perspective of an owner-manager. Pr. FINAN 470.
FINAN 562. Short-Term Financial Management. (3) I. Application of financial concepts to the firm's short-term investment and financing decisions. Topics include cash collection, cash concentration, cash disbursement, banking relationships, receivables and payables management, hedging, risk management, and international short-term finance. Pr.: FINAN 470 and FINAN 551.
FINAN 643. International Financial Management. (3) I. The international (cross-currency) aspects of financial management. Topics include currency markets and exchange rate determination, parity conditions, foreign exchange exposure and management, and valuation of international projects. Pr.: FINAN 450.
FINAN 653. Security and Portfolio Analysis. (3), I, II. The analysis and valuation of securities and the management of investment portfolios. Students analyze the composition of, make buy/sell recommendations for, and evaluate the performance of an actual portfolio. Pr.: FINAN 470 and 551.
FINAN 654. Derivative Securities and Markets. (3) II. Structure and operation of markets for futures, swaps, options, synthetic options, and futures on options. Valuation of futures contracts and options. Applications of derivatives to hedging and speculating strategies. Pr.: FINAN 551.
FINAN 660. Corporate Finance. (3) I, II. In-depth study of a firm's long-term financing, capital investment, and working capital decisions. Topics include cash-flow analysis, capital asset valuation, risk, dividend policy, capital structure theory, and short-term financial management. Pr.: MATH 205, FINAN 453, FINAN 470, and FINAN 551. (Not available for credit to students taking FINAN 850).
FINAN 661. Professional Financial Planning. (3) I, II. A study of the principles and practices of professional financial planning using an integrated planning model. Topics include the planning environment, concepts, tax management, asset acquisition and management, credit management, risk management, investments, retirement planning, and estate planning. Contemporary applications, professional opportunities, and legal/ethical standards are emphasized. Pr.: FINAN 453 and FINAN 551.
FINAN 670. Cases in Financial Management. (4) I, II. A capstone course in financial management. Utilizes the case method of instruction to provide students the opportunity to use their knowledge of the theories of finance to solve financial management problems in a realistic setting. Emphasizes the development of students' analytical skills. This course requires extensive report-writing, teamwork, oral presentations, and class discussion. Pr.: FINAN 660.
FINAN 671. Cases in Financial Services. (4) I, II. A capstone course in financial services. Uses the case discussion method to provide students the opportunity to apply their knowledge of finance theory to solve problems related to the financial services industry, including insurance, real estate, individual investments, retirement planning, and tax management. This course emphasizes the development of analytical skills and requires extensive report-writing, teamwork, and oral presentations. Pr.: FINAN 661.