Finance (FIN)

FIN 600  Graduate Independent Study in Finance  (1-9 credits)  
FIN 600A  Graduate Independent Study in Finance (A)  (1-9 credits)  
FIN 600B  Independant Study in Finance (Graduate) (B)  (1-9 credits)  
FIN 600C  Independant Study in Finance (Graduate) (C)  (1-9 credits)  
FIN 631  Securities Law and Regulations  (3 credits)  

Studies the securities industry as part of the domestic and international financial services industry and the role of government regulation in controlling misconduct and stimulating financial and technical innovation. The course includes the basic SEC disclosure methods and documents the development of Generally Accepted Accounting Principles, securitization, investment banking and trading methods, broker-dealer regulation, tender offers, proxy contests and insider trading.

FIN 632  Introduction to Financial Decision Making  (3 credits)  

This course introduces the students to the essentials of financial decision making within the firm as well as the general characteristics of financial markets and securities. It is intended to provide the student with the background to understand the role of risk in the financial markets as well as the management of risk within the firm.

Course Rotation: NY;Fall
FIN 633  Computer Applications in Business and Finance  (3 credits)  

This course introduces various aspects of finance that stem from developments in finance theory and explores their implications for other non-financial business decisions. Topics such as working capital management, capital structure and risk management will be taught from a strategic and integrative point of view in order to enable the student to translate these insights into superior strategic decisions in areas such as marketing, human resource management, supply chain management and competitive strategy.

FIN 634  Entrepreneurial Finance  (3 credits)  

Examines the framework for return on investment calculation and criteria in new ventures, cash management techniques and controls for small businesses; equity and debt sources and their criteria for investment in new businesses; additional sources of capital and entry strategies for new businesses. Covers the financial skills needed at each level and phase of a new venture's development. Reviews the equity and debt markets for start up firms and alternative entry strategies such as franchising and acquisition.

FIN 644  Money and Capital Markets  (3 credits)  

Studies the flow of funds in the short-term and long-term financial markets. Sources and uses of funds, interest rate theory, the role of the Federal Reserve System and the U.S. Treasury are studied to provide background for interpretation of current developments.

FIN 646  Corporate Budgeting and Stragetic Planning  (3 credits)  

Capital asset planning and evaluation; covers relevant cost concepts for decision-making, present value theory and analysis, the theory and measurement of rate of return and cost of capital, and an introduction to captial rationing and probability theory. Case studies are used. Introduces related problems such as leasing, pricing and debt refunding.

FIN 647  Advanced Corporate Finance  (3 credits)  

This course provides students with the tools and concepts of modern financial theory and how to apply them to corporate financial decision, building upon the basic principles of finance developed in introductory finance. It covers issues such as capital budgeting, working capital management, capital structure, corporate control, corporate governance, and dividend policy. In addition, advanced topics such as mergers and acquisitions and the use of real option theory in making corporate financial decision may be addressed.

Course Rotation: NYC and WP: Fall and Spring.
FIN 648  Mergers and Acquisitions  (3 credits)  

Analyzes corporate combinations and their effects on management, labor, the consumer, the economy, etc. Topics include the economic and financial setting of business combinations, the motives for mergers, merger valuation, merger financing, merger negotiations and the consequences of such corporate activities.

FIN 649  International Corporate Finance  (3 credits)  

Surveys the financial environment, goals and problems of the multinational corporation. Analyzes the financial opportunities and risks resulting from business operations in differing political, economic and monetary systems. Topics include: balance of payments accounting and analysis techniques, the evolution of the international monetary system with special emphasis on current issues, foreign exchange rate determination and forecasting, foreign exchange risk and exposure management techniques, environmental risk management. Covers special topics in international finance such as working capital management strategies, capital budgeting, cost of capital and optimal financial structure.

FIN 650  Applied Analytical Methods in Finance  (3 credits)  

Introduces advanced methodological tools required to do research in finance and investment analysis. Topics include study of simple linear regression, multiple regression analysis, analysis of variance, discriminate analysis, factor analysis and non-parametric tests. Emphasizes modern portfolio theory. Use of computers is required.

FIN 651  International Banking and Financial Markets  (3 credits)  

Provides a survey of the structure and dynamics of international financial markets and their linkages to domestic markets. Topics include the global profile of capital movements, the Eurocurrency and major domestic money markets, the international capital markets including bonds and syndicated credits, the foreign exchange market. One focus of the course is optimizing international financial asset portfolios.

FIN 652  Investment Analysis  (3 credits)  

Provides a solid foundation in the investment field. Considers aspects of accounting, economics, finance, strategic management and marketing and management science relevant to modern investment analysis. Topics include the analysis and understanding of security markets, the economy, industries, companies, and the analysis and valuation of corporate securities.

FIN 653  Portfolio Analysis and Management  (3 credits)  

Analyzes the theory and practice of modern investment management. Topics include quantitative concepts, portfolio analysis, capital asset pricing theory model, performance measurement, efficient market hypothesis, portfolio management process, use of derivative securities, ethical and legal considerations and professional standards.

FIN 654  Risk Management and Capital Market  (3 credits)  

Introduces modern quantitative methods to measure and manage financial risk. Focuses on teaching students to identify the business issues, regulatory requirements and techniques to measure and report risk across a major financial institution and to design or buy a risk management system. Covers market risk, credit risk and liquidity risk.

Course Rotation: NYC: Fall
FIN 655  Problems in Investment Management-CFA Preparation  (3 credits)  
FIN 656  Financial Econometrics for Risk Modeling  (3 credits)  

This course teaches estimation and forecasting of time series models in finance. Students will learn how to measure and forecast financial volatility and correlation and become proficient with GARCH type models and historical volatilities. These methods will be used to measure risk and analyze alternative approaches to calculating Value at Risk, dynamic portfolio selection and risk control. The course also examines implied volatilities from options, variance swaps, credit risk models, market (in) efficiency, dynamic relationships between global financial markets and high frequency volatility. This course teaches estimation, Monte Carlo simulations and programming methods.

Course Rotation: NYC: Fall
FIN 657  Financial Econometrics for Risk Modeling  (3 credits)  

This course teaches estimation and forecasting of time series models in finance. Students will learn how to measure and forecast financial volatility and correlations and become proficient with GARCH type models and historical volatilities. These methods will be used to measure risk and analyze alternative approaches to calculating Value at Risk, dynamic portfolio selection and risk control. The course also examines implied volatilities from options, variance swaps, credit risk models, market (in) efficiency, dynamic relationships between global financial markets and high frequency volatility. The course teaches estimation, Monte Carlo simulations and programming methods.

Course Rotation: Fall and Summer
FIN 660  Management of Financial Institutions  (3 credits)  

Covers the structure, regulation, and operations of commercial banks, savings and loan associations, mutual savings banks, insurnace companies, finance companies, pension funds and other financial institutions. Studies the competitive framework and proposals to reform the financial system.

FIN 661  Corporate Financial Risk Management  (3 credits)  

Introduces students to financial risk management (hedging) from the perspective of non-financial corporations. Students learn why firms should hedge risk, whether they do manage risk, and how to measure and manage risk. Designed for those who want to learn how to use derivatives to maximize firm value through risk management. Aims to provide the right tools and insights to manage various market risks in a corporate setting rather than focusing on pricing financial derivatives or financial engineering.

Course Rotation: NYC: Fall
FIN 662  International Banking  (3 credits)  
FIN 663  Financial Strategy and Business Decisions  (3 credits)  

This course uses an integrated framework to explore the implications of financial decisions such as working capital management, capital structure and financial risk management for non-financial business decisions. Tools such as the Porter Model, Dupont Analysis and Game Theory are used to show how finance theory can be used to craft strategy in operational domains such as marketing, human resource management, supply chain management and competitive positioning.

Course Rotation: NYC: Fall and Spring
FIN 667  Valuation of the Firm  (3 credits)  

Provides an overview of the critical methods and tools used to estimate the fundamental value of an enterprise. Focuses on equity valuation and touches on concepts relevant to other asset classes. Discusses discounted cashflow and comparative valuation methodologies, including the estimation of growth rates and discount rates.

Course Rotation: NYC:Fall
FIN 668  Private Equity  (3 credits)  

This course provides students with an overview of the private equity asset class, focusing primarily on leveraged buyouts and secondarily on growth capital and venture investing. It explores the private equity industry, its fundraising and fund structure, the investor universe, sources of deal financing, valuation and deal structuring, portfolio company management, and investment realization. The material is presented through textbook readings, lectures, and case analysis. This course should be very helpful to students interested in commercial banking, leveraged finance, investment banking, private equity, or any other field where a strong background in financial analysis and private company valuation is required.

Course Rotation: Fall; NYC
FIN 670  Strategies in the Option and Future Markets  (3 credits)  
FIN 671  Behavioral Finance  (3 credits)  

This course introduces students to the field of Behavioral Finance and Economics. lt will discuss behavioral aspects of the decision making of professional investors, traders, strategy consultants, as well as senior managers in the corporate world, NGOs, and academia. The course will emphasize behavioral biases and their impact on decision making. In addition, the course will explore how behavioral theories could explain market anomalies, such as excess volatility.

FIN 672  Strategies in Investments, Options and Futures  (3 credits)  

This course covers investment strategies for individuals and institutions. Explores diversification strategies utilizing multi-industry portfolios, international equities, real estate and other assets. Considers tax strategies involving tax advantages investments and securities transactions. The student will receive practical experience in establishing portfolios that reflect the outlook for investments in relation to risk tolerances.

Course Rotation: TBA
FIN 673  Real Estate Finance  (3 credits)  

This course covers various subject matters within the world of real estate finance including the capitalization (debt and equity) of real property. It will discuss the procedures involved in underwriting and in investing in real estate including mortgage loans and single family home ownership. It will introduce students to the role of government in the financing of commercial and residential real estate and cover direct and indirect ownership of real estate assets. Finally, it will provide an overview of how real estate markets work, including the valuation of real estate.

Course Rotation: TBA
FIN 674  Personal Financial Management  (3 credits)  

Introduces the tools and concepts employed in financial management for individuals. Topics include analysis of investment alternatives, tax minimization techniques, tax shelters, risk analysis, employee benefits, retirement, and estate planning. Discusses the method of integrating these disciplines into an overall financial plan tailored to individual needs.

FIN 675  Risk Management and Insurance  (3 credits)  

Covers the role that risk plays in the personal financial management process. Examines all major insurance vehicles. Also discusses other methods of establishing risk preferences in accordance with individual wishes. Analyzes the application of appropriate techniques in making insurance recommendations. Introduces all major risk management products.

Prerequisites: Required of all MS Personal Financial Management Majors.
FIN 676  Managing a Financial Planning Practice  (3 credits)  

Capstone course of the MS Personal Financial Planning. Discusses the steps necessary to create a profitable, growth-oriented entity that manages its own business risk. Covers fee-based and commission revenue sources, the marketing of financial services, the regulatory environment and creating pro-forma financial statements and operating budgets.

FIN 677  Contemporary Topics in Financial Management  (3 credits)  

In-depth coverage of a selected issue in Finance. Subject matter may vary from semester to semester. Enrollment is limited to facilitate a high level of interaction among faculty and students.

FIN 677A  Seminar in Finance: Investment Management Regulation  (3 credits)  

The course will provide students with a strong theoretical foundation of the law pertaining to the field of financial services and in investment management, as well as a practical understanding of the implications of recent changes in the industry. The course will focus on the law, rules and regulations related to investment managers, investment advisers, hedge funds, private equity funds, etc. it will incorporate knowledge and understanding of the various financial products that exists in the industry, and the different regulatory frameworks that govern the activities associated with those products and industry participants.

FIN 677G  Seminar in Financial Business Strategy  (3 credits)  
FIN 678  Contemporary Topics in Investment Management: Commercial Banking  (3 credits)  

Covers topics in the theory and practice of investment management. Provides an opportunity to discuss current issues in investment management.

Course Rotation: TBA
FIN 679  Fixed Income Markets and Analytics  (3 credits)  

Analyses of U.S. and foreign fixed income markets. Describes the various products, where and how they are traded, how they are priced, and how they are used to achieve a variety of financial goals including capital formation, interest rate risk management, and portfolio diversification. Topics covered include treasury, agency, corporate, and municipal bonds, floating rate bonds, mortgage-backed securities, term structure modeling, immunization, credit risk management, credit derivatives, and interest rate derivatives including swaps, caps and floors, and swaptions.

FIN 680A  Topics: Indian Economy and Finance in the Global Marketplace  (3 credits)  

In recent years, India has made great strides and has become an integral part of the global economy. This course will explore the implications of this changing business environment for management and financing strategies of both Indian and US firms operating in this region. Each year, the course will focus on a relevant group of industries and travel to one or more cities; students will visit firms in these industries, as well as cultural and historical sites, and business school in order to allow them to obtain a broad understanding of the financing and management issues in their social and economic context.

FIN 680B  Topic: African Financial Strategies:Emerging Markets  (3 credits)  
FIN 680C  International Finance  (3 credits)  

This course will explore the characteristics of international financial markets and evaluate the associated risks and benefits within the framework of the changing global markets. Special attention will be devoted to Eurocurrency markets and regional integration. Students will have the opportunity to meet with political and business leaders, and learn more about the business culture in these countries.

FIN 680D  Topic: Financing & Marketing Implications of Market Orientation in India  (3 credits)  

India has traditionally been an economy, where family-based enterprises have always been important. As the country moves forward, management expertise is going to be crucial. The issue is related to corporations increasing use of capital markets, where investors are much more impatient and much more demanding of results than family conclaves. These developments also parallel India’s move to a consumer culture and, what has been called in the marketing literature, the growing market or marketing orientation in developed and developing economies. This course will explore the implications of this changing business environment for marketing and financing strategies of both Indian and US firms operating in the region. In our trip to India, we will explore these marketing, finance and management issues by visiting firms in several industries particularly in the consumer packaged goods sector technology sector, financial institutions, cultural and historical sites, and business schools.

FIN 680H  Topic: Contemporary Topics in Finance - Introduction to Hedge Funds  (3 credits)  

The goal of this course is to provide students with an overview of the burgeoning hedge fund industry and its role in the financial and economic environment. The course will cover different trading strategies and provide opportunities to discuss current legal, social, and ethical issues related to the hedge fund industry. Topics will include the origin of hedge funds, business issues of hedge fund managers, institutional developments in the hedge fund community, regulatory issues, the use of derivatives, and strategies to avoid financial instability.

Prerequisites: BUS 508, BUS 510, and BUS 512 or MBA 626 and MBA 632.
FIN 680J  Topic: International Field Study: Japan  (3 credits)  

This course is an international field study course which incorporates a one-week trip to Japan. While in Japan, students will attend seminars given by corporate and investment bankers, government officials, and other financial executives. There will be on-campus lectures discussing the relevant theories and principles prior to the trip.

FIN 680K  Topic: International Finance and Markets  (3 credits)  
FIN 680L  Topic: Student Managed Investment Portfolio  (3 credits)  
FIN 680R  Economic Competitiveness and Leadership: Field Study to Russia and Finland  (3 credits)  

This course will explore the theme of “Economic Competitiveness and Leadership”. We will study the characteristics of international business and financial markets and evaluate the associated risks and benefits within the framework of changing global economic conditions, devoting special attention to Europe and regional integration. We will further consider these characteristics and trends within the context of global competitiveness and modern leadership challenges. Students will have the opportunity to meet with political and business leaders and learn more about the business culture in these countries.

FIN 680V  International Field Study  (3 credits)  

The International Field Study incorporates a trip to study the financial environment in different countries. While visiting these countries, students will visit companies and attend seminars given by corporate and investment bankers, government officials, and other business executives. The course will cover various aspects of the financial markets of the countries visited, as well as the way in which businesses in those countries use financial markets. Prior to leaving the U.S., students will attend class meetings covering topics relevant to the seminars given in the host countries.

FIN 686  Applied Financial Risk Management and Policy  (3 credits)  

This course integrates the theory of risk management with the practical problems of financial and nonfinancial risks faced by business firms and other organizations. Both quantitative techniques and qualitative methods utilized for risk management applications are addressed. The methodologies and tools used in identifying, measuring, managing and monitoring market risk, credit risk, operational risk, and liquidity risk are discussed. Difficulties related to risk budgeting, counterparty risks and to modeling risk aggregation arc explored. The course makes extensive use of case studies.

FIN 687  Applied Investment Management and Policy  (3 credits)  

This course integrates and advances the knowledge of investments. Its practical orientation will help those poised to begin a career in the investment area. This course takes the micro investment knowledge from more basic investment analysis courses and the macro analysis material from portfolio management courses to provide a higher level of relevant material that investment practitioners are called upon to utilize. Students will be offered extensive case study material and problems and working in groups they will manage and present the results of their own investment portfolios.

Course Rotation: Fall;NY
FIN 688  Independent Study in Finance  (3 credits)  

The subject of study is determined jointly by the student and faculty member in a finance or finance-related area that may not necessarily be drawn from areas in the presently offered curriculum. The student is expected to accumulate knowledge in a systematic manner and present an appropriate report to the faculty advisor.

Prerequisites: Open only to MBA students who have previously completed all course work and have a minimum CQPA of 3.5.
FIN 689  Financial Analysis and Policy  (3 credits)  

Integrates the theory of financial analysis with real world financial problems faced by business firms in our society. Topics include financing of current operations, long-term financing, capital structure decisions, dividend policy, and investment decisions. Extensive use of case problems.

Prerequisites: Must have advanced standing in addition to FIN 647.
FIN 692Q  Research Project  (3 credits)  

Requires a successful completion of an acceptable research project on a topic approved by the instructor. Research findings are presented in a formal written paper. Students meet individually with the instructor.

Prerequisites: Must have Advanced Standing.
FIN 695Q  Research Project in Investments  (3 credits)  

Requires a successful completion of an acceptable research project on a topic approved by the instructor. Research findings are presented in a formal written paper. Students meet individually with the instructor.

FIN 696  Finance Internship  (3 credits)  

As opportunities become available with cooperating companies in the area, finance majors with strong academic records will be selected to undertake a carefully planned work experience that will integrate the practical application of their classroom training. Students will maintain a weekly-log which will be reviewed periodically with the supervising faculty member, and will be required to prepare a rigorous industry analysis or research paper as dictated by the industry/economic/service sector to which the sponsoring internship provider belongs. Students will explore in their research the relationship between theory and practice based upon their internship experiences. Interns are supervised by a faculty member in the Finance and Economics Department. Interested students majoring in finance should contact the Finance and Graduate Economics Department in White Plains or New York.

Prerequisites: MBA 632. Permission of the Department Chair or Graduate Program Chair is required. Students must have completed at least 12 graduate credits.
FIN 708  Financial Institutions and Markets  (3 credits)  
FIN 709  Financial Management  (3 credits)  
FIN 715  Management Issues in Financial Services  (3 credits)  
FIN 720  Strageties for Global Financial Markets  (3 credits)  
FIN 728  Financial Management  (3 credits)  
FIN 729  Comparative Financial Systems  (3 credits)  
FIN 730  Global Financial Markets  (3 credits)  
FIN 731  Investement Management and Portfolio Management  (3 credits)  
FIN 740  Business Finance  (3 credits)  
FIN 742  Financial Innovations  (1.5 credits)  
FIN 760  Seminar in Finance  (1.5 credits)