Subject: FNCE
Term: Spring 2026

FNCE 412: Algorithmic Trading (100/1446)
M 03:00-05:45 PM Jan 12-Apr 27
Noh, J

Finding the right algorithm to automatically and successfully trade in financial markets is the holy grail in finance. Not too long ago, Algorithmic Trading was only available for institutional players with deep pockets and lots of assets under management. Recent developments in the areas of open source, open data, cloud computing and storage, as well as online trading platforms, have leveled the playing field for smaller institutions and individual traders - making it possible to get started in this fascinating discipline being equipped with a modern notebook and an Internet connection only. Coding experience required or consent of instructor required. This course aims to: - Trace the evolution of quantitative trading strategies, - Expose students to the landscape of different market datasets (e.g., Alpha Vantage), - Discuss linear regression models and logistic regression models, - Introduce select machine learning techniques, - Evaluate the performance of these trading strategies, - Provide an introduction to textual analysis Offered as BTEC 412, FNCE 412, and FTEC 412.

FNCE 428: Financial Strategy and Value Creation (100/1379)
T 06:00-08:45 PM Jan 12-Apr 27
Fine, S

The intersection between the theory of perfect markets and the reality of market imperfections provides the basis for the exploration of value creation in this course. Opportunities in both product and financial markets are explored using case studies to develop a framework for strategic financial decisions.

FNCE 429: Investment Management (100/1395)
M 09:00-11:30 AM Jan 12-Apr 27
Noh, J

This course explores the characteristics of financial investments and markets and develops modern techniques of investment analysis and management. The goal is to help students develop a level of analytical skill and institutional knowledge sufficient to make sensible investment decisions. Topics include: an overview of stock, debt and derivative asset markets, practical applications of modern portfolio theory, equilibrium and arbitrage-based approaches to capital market pricing, the debate over market efficiency, the term structure of interest rates, bond portfolio management, and uses of derivative assets in investment portfolios.

FNCE 431: Fixed Income Markets and Their Derivatives (100/1495)
T 03:00-05:45 PM Jan 12-Apr 27
Bae, J

This class is concerned with fixed income securities, interest rate risk management, and credit risk. Fixed income securities account for about two thirds of the market value of all outstanding securities, and hence this topic is important. The course covers the basic products of fixed income markets including treasury and LIBOR products, such as interest rate swaps. Risk management and hedging strategies are covered as well as selected topics in credit risk models and mortgage-backed securities.

FNCE 432: Corporate Risk Management (100/10558)
T 11:30-02:15 PM Jan 12-Apr 27
Gupta, A

This is a risk management course aimed at participants who wish to enhance their understanding of the risks faced by corporate firms, both financial and non-financial, learn techniques to identify and measure these risks, and understand how derivatives and risk management solutions can be used to manage these risks, create value, and advance the strategic goals of the firm. Offered as BAFI 432 and FNCE 432.

FNCE 436B: Individual, Team and Career Development (100/1417)
R 09:15-11:15 AM Jan 22-Jan 22, R 09:15-11:15 AM Jan 29-Jan 29, R 09:15-11:15 AM Feb 05-Feb 05, R 09:15-11:15 AM Feb 12-Feb 12
Fine, S

Individual team meetings will also be held and will be scheduled with the instructor.

FNCE 440: Financial Decisions Modeling and Analytics (100/1477)
W 12:00-02:45 PM Jan 12-Apr 27
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. Offered as BAFI 440 and FNCE 440.

FNCE 470: Financial Models Using Big Data (100/1494)
R 03:00-05:45 PM Jan 12-Apr 27
Bae, J

This course is focused on developing models in investments using financial big data. A strong theoretical base will be developed and then relevant empirical analyses using real data will be used for testing models, via individual assignments and group projects. In the projects, groups of students will be immersed in collecting, analyzing, and interpreting financial big data sets.