Subject: FNCE

Term: Fall 2022

FNCE 401: Financial Orientation (100/7888)

R 09:30-12:00 PM Aug 18-Aug 18, R 01:00-03:30 PM Aug 18-Aug 18, M 09:30-12:00 PM Aug 22-Aug 22, M 01:00-03:30 PM Aug 22-Aug 22, T 09:30-12:00 PM Aug 23-Aug 23, T 01:00-03:30 PM Aug 23-Aug 23, R 10:00-12:00 PM Aug 25-Aug 25, R 01:00-03:00 PM Aug 25-Aug 25

Krishnan, C; Madureira, L; Olavarria Baeza, J

This is a mandatory preparatory/refresher course for all entering Master of Finance students. It will cover basic topics in statistics, financial accounting and in financial management, so that all students can hit the road running with the other core courses in the first semester.

FNCE 401: Financial Orientation (101/7889)

R 09:30-12:00 PM Aug 18-Aug 18, R 01:00-03:30 PM Aug 18-Aug 18, M 09:30-12:00 PM Aug 22-Aug 22, M 01:00-03:30 PM Aug 22-Aug 22, T 09:30-12:00 PM Aug 23-Aug 23, T 01:00-03:30 PM Aug 23-Aug 23, R 10:00-12:00 PM Aug 25-Aug 25, R 01:00-03:00 PM Aug 25-Aug 25

Krishnan, C; Madureira, L; Olavarria Baeza, J

This is a mandatory preparatory/refresher course for all entering Master of Finance students. It will cover basic topics in statistics, financial accounting and in financial management, so that all students can hit the road running with the other core courses in the first semester.

FNCE 404: Financial Modeling (100/7789)

M 03:00-05:45 PM Aug 29-Dec 12

Petkova, R

This is a course about financial modeling. It covers a range of topics in the field of financial economics. Each topic is chosen because it lends itself to financial modeling. The primary focus of the course is to relate the theory of finance to practical and usable spreadsheet models that will assist a financial manager with a firm's investment and financing decisions. Spreadsheet models have been the dominant vehicle for finance professionals to practice their trade. This course will utilize Excel and challenge the student to improve their finance and modeling skills. Students will improve their familiarity with financial data analysis through various exercises that incorporate completed models. In summary, the course is designed to increase your practical understanding of core concepts in finance, help you develop hands-on spreadsheet modeling skills, and strengthen your ability to perform financial data analysis within an Excel model.

FNCE 404: Financial Modeling (101/7878)

M 09:00-11:45 AM Aug 29-Dec 12

Petkova, R

This is a course about financial modeling. It covers a range of topics in the field of financial economics. Each topic is chosen because it lends itself to financial modeling. The primary focus of the course is to relate the theory of finance to practical and usable spreadsheet models that will assist a financial manager with a firm's investment and financing decisions. Spreadsheet models have been the dominant vehicle for finance professionals to practice their trade. This course will utilize Excel and challenge the student to improve their finance and modeling skills. Students will improve their familiarity with financial data analysis through various exercises that incorporate completed models. In summary, the course is designed to increase your practical understanding of core concepts in finance, help you develop hands-on spreadsheet modeling skills, and strengthen your ability to perform financial data analysis within an Excel model.

FNCE 421: Corporate Financial Analysis (100/7884)

W 12:00-02:45 PM Aug 29-Dec 12

Olavarria Baeza, J

This course is designed to lay the analytic foundation for careers in corporate finance, banking, consulting, and investment banking. The objective of the course is to strengthen students' conceptual understanding and problem-solving skills, and teach them how to think on their feet. Topics covered include Economic cash flows and valuation, Valuation methods, Long term financial planning and ratios analysis, Growth and external financing, Managerial options and valuation, Capital structure, and Payout policy. Topics covered may change from semester to semester. The course envisages use of spreadsheets and case studies, and will emphasize on links to real-world events.

FNCE 421: Corporate Financial Analysis (101/7885)

R 06:00-08:30 PM Aug 29-Dec 12

Olavarria Baeza, J

This course is designed to lay the analytic foundation for careers in corporate finance, banking, consulting, and investment banking. The objective of the course is to strengthen students' conceptual understanding and problem-solving skills, and teach them how to think on their feet. Topics covered include Economic cash flows and valuation, Valuation methods, Long term financial planning and ratios analysis, Growth and external financing, Managerial options and valuation, Capital structure, and Payout policy. Topics covered may change from semester to semester. The course envisages use of spreadsheets and case studies, and will emphasize on links to real-world events.

FNCE 430: Derivatives and Risk Management (100/7792)

T 03:00-05:45 PM Aug 29-Dec 12

Ritchken, P

This course is intended to give students an understanding of options and futures markets both in theory and practice. The emphasis is on arbitrage and hedging. The course concentrates on listed common stock and index contracts as well as commodity markets. Various theories for trading strategies are studied.

FNCE 430: Derivatives and Risk Management (101/7891)

T 11:30-02:15 PM Aug 29-Dec 12

Ritchken, P

This course is intended to give students an understanding of options and futures markets both in theory and practice. The emphasis is on arbitrage and hedging. The course concentrates on listed common stock and index contracts as well as commodity markets. Various theories for trading strategies are studied.

FNCE 434: Financial Analytics and Banking (100/7894)

M 09:00-11:45 AM Aug 29-Dec 12

Balasubramanyan, L

This course will cover empirical and analytical aspects of banking, including loan origination, syndication, sales, stress-testing and securitization; capital adequacy, regulation and supervision; methods of measuring and managing value at risk, credit risk, interest rate risk, liquidity risk, and other risk; credit market information, feedback, and signaling. Offered as BAFI 434 and FNCE 434.

FNCE 434: Financial Analytics and Banking (101/7896)

M 03:00-05:45 PM Aug 29-Dec 12

Balasubramanyan, L

This course will cover empirical and analytical aspects of banking, including loan origination, syndication, sales, stress-testing and securitization; capital adequacy, regulation and supervision; methods of measuring and managing value at risk, credit risk, interest rate risk, liquidity risk, and other risk; credit market information, feedback, and signaling. Offered as BAFI 434 and FNCE 434.

FNCE 435: Empirical Finance (100/7806)

W 09:00-11:45 AM Aug 29-Dec 12

Madureira, L

This course provides an introduction to empirical analysis and research in finance. This involves the management of empirical datasets and the aspects of quantitative applications of finance theory. The goal is to enable the student to deal with the need to analyze complex and large financial and economic datasets that is present in many fields of the financial profession. The scope of the data as well as the quantitative methods used in such analysis often requires familiarity with robust computational environments and statistical packages. As such, another goal of the course is to familiarize the student with at least one such environment. Applications are conducted using real financial and economic data. The course draws on the theoretical aspects of the subjects covered, but mainly focuses on the practical matters required to undertake an empirical analysis of financial topics--e.g., the definition of the research question, the datasets required, the computational needs, and, then, the implementation. The course enables the student to evaluate outstanding financial research as well as to conduct his or her own research. Offered as BAFI 435 and FNCE 435.

FNCE 435: Empirical Finance (101/7898)

W 03:00-05:45 PM Aug 29-Dec 12

Madureira, L

This course provides an introduction to empirical analysis and research in finance. This involves the management of empirical datasets and the aspects of quantitative applications of finance theory. The goal is to enable the student to deal with the need to analyze complex and large financial and economic datasets that is present in many fields of the financial profession. The scope of the data as well as the quantitative methods used in such analysis often requires familiarity with robust computational environments and statistical packages. As such, another goal of the course is to familiarize the student with at least one such environment. Applications are conducted using real financial and economic data. The course draws on the theoretical aspects of the subjects covered, but mainly focuses on the practical matters required to undertake an empirical analysis of financial topics--e.g., the definition of the research question, the datasets required, the computational needs, and, then, the implementation. The course enables the student to evaluate outstanding financial research as well as to conduct his or her own research. Offered as BAFI 435 and FNCE 435.

FNCE 436A: Individual, Team and Career Development (100/7823)

F 09:00-11:15 AM Sep 02-Sep 02, F 09:00-11:15 AM Sep 16-Sep 16, F 09:00-11:15 AM Oct 28-Oct 28, F 09:00-11:15 AM Nov 11-Nov 11

Martinez, E; Schilling, D

This course is designed to focus on three areas of development critical to students' personal and professional success: 1) Individual; 2) Team; and 3) Career. The individual and team aspects include developing self and other awareness through exploration of learning styles, process skills, and building communication and presentation competencies. Career development includes a focus on strategies for success such as networking, resume building, and learning from executives through intensive and interactive seminars. The course involves use of assessments, group discussions, presentations and experiential activities.

FNCE 436A: Individual, Team and Career Development (101/7824)

F 09:00-11:15 AM Sep 09-Sep 09, F 09:00-11:15 AM Sep 23-Sep 23, F 09:00-11:15 AM Nov 04-Nov 04, F 09:00-11:15 AM Nov 18-Nov 18

Martinez, E; Schilling, D

This course is designed to focus on three areas of development critical to students' personal and professional success: 1) Individual; 2) Team; and 3) Career. The individual and team aspects include developing self and other awareness through exploration of learning styles, process skills, and building communication and presentation competencies. Career development includes a focus on strategies for success such as networking, resume building, and learning from executives through intensive and interactive seminars. The course involves use of assessments, group discussions, presentations and experiential activities.

FNCE 436D: Individual, Team, and Career Development (800/7811)

Keeler, M

This course is designed to focus on three areas of development critical to a student's personal and professional success: individual, team, and career development. This will be accomplished through a project with a company so that students get a real-life experience related to their field of study. This experience provides students with the opportunity to explore their career interests while applying knowledge learned in the classroom in a real-life setting. The experience also helps students build their professional networks and be part of a team assigned to work on the corporate project.

FNCE 440: Financial Decisions Modeling and Analytics (100/11164)

WF 12:00-01:15 PM Aug 29-Dec 12

Krishnan, C

The firm is a nexus of contracts among its various stakeholders (e.g., managers, shareholders, debt holders). In this course, we will examine Valuation, Quantitative Analysis of Real Options, Asymmetric Information, Agency Cost, Incentive Contracts and Performance Metrics, Regulation and Reputation. The takeaway learnings from this course are: (a) Understanding how value can be created or destroyed, (b) Measuring/quantifying value using financial big data, (c) Understanding the links between capital structure and asymmetric information, market reactions and signaling, agency and management incentives, taxes and shareholder, bondholder conflicts, (d) Understanding the links between payout policy and informational content, market reaction, stock returns and signaling, and clientele effects, and (e) design of Performance Metrics. We will download corporate financial data (financial big data) from research databases, and conduct empirical analysis to understand the value implications of financial decisions. Excel/SAS will be used. We will analyze case studies and real-world events.

FNCE 440: Financial Decisions Modeling and Analytics (101/11165)

WF 01:30-02:45 PM Aug 29-Dec 12

Krishnan, C

The firm is a nexus of contracts among its various stakeholders (e.g., managers, shareholders, debt holders). In this course, we will examine Valuation, Quantitative Analysis of Real Options, Asymmetric Information, Agency Cost, Incentive Contracts and Performance Metrics, Regulation and Reputation. The takeaway learnings from this course are: (a) Understanding how value can be created or destroyed, (b) Measuring/quantifying value using financial big data, (c) Understanding the links between capital structure and asymmetric information, market reactions and signaling, agency and management incentives, taxes and shareholder, bondholder conflicts, (d) Understanding the links between payout policy and informational content, market reaction, stock returns and signaling, and clientele effects, and (e) design of Performance Metrics. We will download corporate financial data (financial big data) from research databases, and conduct empirical analysis to understand the value implications of financial decisions. Excel/SAS will be used. We will analyze case studies and real-world events.

FNCE 450: Mergers and Acquisitions (400/7812)

T 06:00-07:30 PM Aug 29-Dec 12

Fine, S

This course examines the economic rationale and motivation for the different merger and acquisition and recapitalization activity undertaken by firms and individuals in the U.S. market. Emphasis is on the different three (3) methods of valuing a firm, the various forms of debt and equity capital employed to fund mergers and acquisitions and recapitalizations, how lenders and investors structure their loans and/or investments, and how investors realize the gains through different exit strategies. The course gives the student an excellent understanding of the role that senior commercial banks, insurance companies, pensions funds, LBO funds, investment banking firms, and venture/growth capital investors play in mergers and acquisitions.

FNCE 460: Investment Strategies (100/7814)

R 02:30-05:15 PM Aug 29-Dec 12

Petkova, R

This course provides a broad survey of some of the main strategies used by hedge funds today. Through exercises and projects, the hedge fund strategies will be presented using real data. Students will learn to use a methodology referred to as "back testing" in order to evaluate hedge fund strategies. The course will also cover institutional details related to short selling, liquidity, margin requirements, risk management, and performance measurement. Since hedge funds today use advanced modeling techniques, the course will require students to analyze and manipulate real data using mathematical modeling. The objective of the course is for students to gain practical knowledge about creating, back-testing, and implementing hedge fund trading strategies. Offered as BAFI 460 and FNCE 460.

FNCE 460: Investment Strategies (101/7901)

R 08:30-11:15 AM Aug 29-Dec 12

Petkova, R

This course provides a broad survey of some of the main strategies used by hedge funds today. Through exercises and projects, the hedge fund strategies will be presented using real data. Students will learn to use a methodology referred to as "back testing" in order to evaluate hedge fund strategies. The course will also cover institutional details related to short selling, liquidity, margin requirements, risk management, and performance measurement. Since hedge funds today use advanced modeling techniques, the course will require students to analyze and manipulate real data using mathematical modeling. The objective of the course is for students to gain practical knowledge about creating, back-testing, and implementing hedge fund trading strategies. Offered as BAFI 460 and FNCE 460.

FNCE 471: Applications in Financial Big Data (100/7816)

W 09:00-11:45 AM Aug 29-Dec 12

Wang, L

This course is project-based and focused on solving real-life problems using financial big data. Groups of students will collect/use data, estimate parameters, and conduct appropriate validation tests. Not only do the members have to work together, but they also have to be professional, make interim reports, and communicate effectively with each other.

FNCE 471: Applications in Financial Big Data (101/7818)

W 12:00-02:45 PM Aug 29-Dec 12

Wang, L

This course is project-based and focused on solving real-life problems using financial big data. Groups of students will collect/use data, estimate parameters, and conduct appropriate validation tests. Not only do the members have to work together, but they also have to be professional, make interim reports, and communicate effectively with each other.

FNCE 491: Python Programming w Appl in Finance (100/7819)

R 02:30-05:15 PM Aug 29-Dec 12

Wang, L

There are two parts to this course. (i) In the first part we learn the basics of Python programming language by solving a sequence of rather simple problems each focusing on broadening your knowledge. At each stage we introduce important commands of Python and slowly learn the structure of object oriented programming with Python. The objective is to make you Python literate. (ii) The second part of the class is for you to tackle significant financial problems either in risk management or in corporate finance using the Python language as the primary tool to do the analysis. You will develop a series of financial models in your track and then tackle two major projects which will utilize all the skills developed. Offered as BAFI 491 and FNCE 491.

FNCE 491: Python Programming w Appl in Finance (101/11166)

R 06:30-09:00 PM Aug 29-Dec 12

Ritchken, P

There are two parts to this course. (i) In the first part we learn the basics of Python programming language by solving a sequence of rather simple problems each focusing on broadening your knowledge. At each stage we introduce important commands of Python and slowly learn the structure of object oriented programming with Python. The objective is to make you Python literate. (ii) The second part of the class is for you to tackle significant financial problems either in risk management or in corporate finance using the Python language as the primary tool to do the analysis. You will develop a series of financial models in your track and then tackle two major projects which will utilize all the skills developed. Offered as BAFI 491 and FNCE 491.

FNCE 493: Blockchains, Cryptocurrencies, and Cryptoventures (100/7820)

R 11:30-02:15 PM Aug 29-Dec 12

Ramachandran, L

It behooves today's business leaders to be well acquainted with blockchain technologies and AI, two seemingly disparate technologies that have the potential to fundamentally disrupt a wide range of businesses. The popularity of blockchain technologies has increased exponentially since the release of bitcoin in 2009. While bitcoins garnered a lot of attention during the initial days, the focus has shifted over time to the underlying technology: blockchain. This wildly innovative technology has made possible tasks that were hitherto deemed implausible: validate ownership in a digital asset, verify the true state of a transaction without relying on a costly intermediary etc. Accurate predictions and sound judgements are two critical ingredients of any decision making process. While the jury is still out on whether algorithms can make sound judgements, recent developments in a field called machine learning (and its sub-field, deep learning) have led to dramatic improvements in the accuracy of predictions made by these algorithms. Significantly, this gain in accuracy has been accompanied by a reduction in overall costs. These in turn have spurred the recent interest in AI. Organizations that have enabled AI at the enterprise level appear to be making more informed decisions and innovating new products. In this course, we will unpack these technologies and examine a wide range of relevant business use cases. Our objective is to provide a practical introduction to these key technologies and their business implications. We focus on business perspectives, rather than on the technical dimensions. Fittingly, this course is open to all graduate students of Weatherhead School (MBA and all specialty Masters). Students are not expected to have any specific programming background; however, a basic understanding of statistics is required to better appreciate the discourse on Artificial Intelligence. Offered as BTEC 493, FNCE 493 and FTEC 493.

FNCE 493: Blockchains, Cryptocurrencies, and Cryptoventures (101/7904)

M 06:00-08:30 PM Aug 29-Dec 12

Ramachandran, L

It behooves today's business leaders to be well acquainted with blockchain technologies and AI, two seemingly disparate technologies that have the potential to fundamentally disrupt a wide range of businesses. The popularity of blockchain technologies has increased exponentially since the release of bitcoin in 2009. While bitcoins garnered a lot of attention during the initial days, the focus has shifted over time to the underlying technology: blockchain. This wildly innovative technology has made possible tasks that were hitherto deemed implausible: validate ownership in a digital asset, verify the true state of a transaction without relying on a costly intermediary etc. Accurate predictions and sound judgements are two critical ingredients of any decision making process. While the jury is still out on whether algorithms can make sound judgements, recent developments in a field called machine learning (and its sub-field, deep learning) have led to dramatic improvements in the accuracy of predictions made by these algorithms. Significantly, this gain in accuracy has been accompanied by a reduction in overall costs. These in turn have spurred the recent interest in AI. Organizations that have enabled AI at the enterprise level appear to be making more informed decisions and innovating new products. In this course, we will unpack these technologies and examine a wide range of relevant business use cases. Our objective is to provide a practical introduction to these key technologies and their business implications. We focus on business perspectives, rather than on the technical dimensions. Fittingly, this course is open to all graduate students of Weatherhead School (MBA and all specialty Masters). Students are not expected to have any specific programming background; however, a basic understanding of statistics is required to better appreciate the discourse on Artificial Intelligence. Offered as BTEC 493, FNCE 493 and FTEC 493.