This Web document is updated twice a year, on or about the first day of registration for Fall and Spring semesters.

3000  Fundamentals of Investing and Business Finance (3) Prerequisite: College Algebra Fulfills Quantitative Intensive BS.
   Introduction to investing and business finance: stocks, bonds, financial analysis and valuation, market access, risk and rate of return. For non-Business majors and minors.

3007  Series 7-Laws & Regulations for Security Dealers (3)
   This class covers the Series 7 License and is designed to prepare the student for passing the National Association of Securities Dealers General Securities Representative Exam. After passing the exam the candidate can be licensed to sell all types of securities. The following topics are covered in the class: Equity Securities, Debt Securities (issued by municipalities, the U.S. Government, government agencies, and corporations), Options, Brokerage Accounts (including margin accounts), Issuing Securities, Trading Securities, Investment Company Products, Retirement Plans, Variable Annuities, Direct Participation Programs, Economics, Analysis, Ethics, Taxation, U.S. Government, State, SEC, and SRO rules and regulations. Does not fulfill a Finance elective.

3040  Financial Management (3) Prerequisite: ECON 2010 or BUS 2010 and MGT 3440 and ACCTG 2020. Fulfills Quantitative Intensive BS.
   Topics include financial analysis, working capital management, Fisherian economics, financial mathematics, capital budgeting, risk/return, cost of capital, capital structure, and dividend policy.

3041  Honors Financial Management (3) Prerequisite: Grade of B+ or better in ECON 2010 or BUS 2010 and MGT 2340 and ACCTG 2020. Fulfills Quantitative Intensive BS.
   A version of FINAN 3040 intended for sophomores and other students who have the required prerequisites. Topics include financial analysis, working capital management, financial mathematics, capital budgeting, risk/return, cost of capital, and capital structure.

3050  Introduction to Investments (3) Prerequisite: FINAN 3040. Fulfills Quantitative Intensive BS.
   Topics include financial markets, market efficiency, financial instruments, asset pricing, portfolio theory, buying and selling securities, term structure and bond valuation, and derivative securities.

4040  Intermediate Corporate Finance (3) Prerequisite: FINAN 3040 and Department consent.
   In-depth treatment of capital structure, dividend policy, corporate incentive problems, and implications for organizational structure and features of securities, agency theory, and signaling theory. This course also covers basic option pricing with applications to valuation of corporate securities.

4050  Intermediate Investments (3) Prerequisite: FINAN 3050 and Departmental consent. Fulfills Quantitative Intensive BS.
   The course explores the uses and pricing of contingent claims including options, futures, and swaps. Relations to underlying assets such as stocks, bonds, and commodities will be emphasized. Both theoretical models and practical applications are covered, with an emphasis on hedging.

4210  Cases in Financial Management (3) Prerequisite: FINAN 3040 and Department consent.
   Expanded cases used to apply theory of financial management. Topics include financial analysis and planning, capital structure, capital budgeting, leasing, and mergers and acquisitions.

4211  Honors Valuation (3) Prerequisite: FINAN 3040.
   This course will develop techniques for financial decision making through the use of cases and lectures with an emphasis on the valuation and financing of new business ventures. General evaluation concepts will also be discussed.

4240  Risk and Insurance (3) Prerequisite: FINAN 3040 or Departmental Consent.
   Topics include the management of personal risks through the use of insurance and non-insurance techniques of risk control. Also included is a survey of personal insurance coverages and social insurance programs.

4330  Credit Institutions (3) Prerequisite: FINAN 3040 or Departmental Consent.
   Management of banks, savings and loan associations, mutual savings banks, investment banking, mutual funds, industrial-loan companies, small-loan companies, insurance companies, and credit unions.

4380  Financial Modeling (3) Prerequisite: FINAN 3040, 3050, MGT 2340, 3440 or equivalent.
   The course will apply economic theories learned from other courses to solve various problems in financial management and investments. It will take a hands-on approach in building financial spreadsheet models. Microsoft Excel is a primary tool to implement the financial models. The students will have ample examples of numerical and graphical practices on problems that arise in various areas of financial analyses. These include but are not limited to asset return calculations, portfolio theory, index models, the capital asset pricing model and investment performance analysis. The course will also make use of statistics and probability.

4550  International Finance (3) Prerequisite: FINAN 3040 and Departmental consent. Fulfills International Requirement.
   Financing of international transactions, balance of payments between nations, adjustment mechanism to deficits (surpluses), international financial institutions and structures, and foreign exchange markets.

4740  Real Estate Principles (3) Prerequisite: FINAN 3040 or Departmental Consent.
   May be taken concurrently with FINAN 3050. Topics include the economics of land, property rights, transaction instruments and legal considerations, brokerage appraisals, financing, zoning, and property management. Also included are issues of basic estate law covering estates and interests in land, contracts, mortgages and trust deeds, liens, conveyancing, and subdivision and development.

4999  Honors Thesis/Project (1.5 to 3)
   Restricted to students in the Honors Program working on their Honors degree.

5010  Applied Financial Institution Case Study (1.5)
   Class provides a hands-on experience into the operation of financial institutions. The class is interdisciplinary in nature and resembles on-the-job training for such organization. A major part of the class is taught by representatives from a major financial institution. Does not fulfill a Finance elective.

5210  Short-Term Financial Management: Theory and Practice (3) Prerequisite: FINAN 3040 or Departmental Consent.
   Theories and practice of short-term finance, e.g., areas of cash management, accounts receivable, inventory, accounts, and notes payable management.

5250  Insurance and Financial Planning for Individuals & Business Owners (3) Prerequisite: FINAN 3040 or departmental consent.
   This course offers students an overview of techniques used by individuals and closely-held business owners to address risk management, wealth accumulation, retirement income, and wealth preservation needs. Covers risk management fundamentals and how life, disability, long term care insurance products are used to address risk management goals. Covers basic retirement planning concepts, trends, and tax-shelters such as Traditional and ROTH IRAs; 401(k) & Profit Sharing Plans; Defined Benefit Plans; and Annuities. Provides a review of products used for retirement planning including mutual funds, UITs, ETFs, life insurance, fixed & variable annuities, and CDs. Wraps-up with a very basic overview of estate planning strategies including buy-sell agreements for business owners the use of marital deduction to reduce estate tax liability. For students considering a career in financial services, please note we will use a textbook from the American College customized for this University of Utah class with chapters taken from the same materials you will study to obtain CLU, ChFC, and CFP professional designations. For more information: http://www.theamericancollege.edu/pdf/Designation_Brochure.pdf

5270  Business Risk Management (3) Prerequisite: FINAN 3040 or Departmental Consent.
   Topics include the application of modern risk management to identify, measure, and control property, liability, and personnel risks in business. Also included is the use of safety management, self-insurance, captive insurance, and commercial insurance to control business risk.

5300  New Venture Finance (3) Prerequisite: FINAN 3040.
   This course will cover topics involved with raising capital for new and growing businesses. Topics include venture capital, private placements, initial public offerings (IPOs), mezzanine debt, preferred stock, warrants, and other forms of new venture financing.

5370  Investment Analysis Techniques (3) Prerequisite: FINAN 3050.
   Fundamental analysis and selection of common stocks, investment timing, investment policy, and portfolio management.

5400  Financial Bank Analysis (3) Prerequisite: FINAN 3040 or departmental consent.
   This course focuses on understanding principal bank regulations and analyzing financial ratios from the Uniform Bank Performance Reports. Topics include analyzing the levels and trends of key financial ratios in the areas of capital, asset quality, earnings, liquidity, and sensitivity to market risk. The course also covers the loan loss reserve and the credit/risk analysis for both commercial and credit card banks. The objectives of the regulatory agencies and issues related to commercial/industrial banks are discussed. The course also includes guest lecturers from the private banking industry and regulatory sector.

5550  Global Corporate Finance (3) Prerequisite: FINAN 3040 and Department consent.
   A class focused on the International financial/corporate/business environment, a) developing technical, transactional, practical and coordinated knowledge about corporate/business expansion, debt/equity investments and financing and related structures, most relevant securities/corporate/bankruptcy/money-laundry/tax laws and jurisdictions in the International market practice, as well as b) highlighting the differences between US and foreign financial/business/management/legal cultures, to the ends of effectively understanding and dealing- consistently with U.S. business culture and ethics- with such differences and constraints.

5600  Investment Banking (3) Prerequisite: FINAN 3040.
   This course will focus on the organization, products, and functions of investment banks. The topics include: financing in the global capital markets through bond, equity, and convertible transactions. Mergers and acquisitions will also be discussed in this course. Finally, the role of hedge funds, LBO funds, and investment bankers in corporate decision making will be reviewed.

5610  Hedge Funds and Private Equity (3) Prerequisite: FINAN 3040.
   Focuses on hedge funds and private equity, including venture capital and LBO funds, their influence on corporate decision-making and corporate measures that are taken to counter threats and exploit opportunities represented by these investors. Competition and cooperation between investment banks, LBO funds and hedge funds will also be analyzed. In addition, the course reviews innovative equity, debt and convertible transactions, with a focus on hedge fund investing and hedging strategies in relation to these securities.

5730  Residential Real Estate Finance and Law (3) Prerequisite: FINAN 4740.
   This class will prepare the student to function as a residential loan officer in Utah with all the underwriting, processing, packaging skills needed to compete in this industry. The student will learn general real estate principles, contract law, Real Estate Purchase Contract, consumer protection laws and regulations, the general philosophy of lending, specific loan packaging and underwriting skills, secondary market knowledge, understanding of loan types, and specific state of Utah law and regulations that apply to loan originators. This class qualifies as hours of pre-license education required by the State of Utah in order to take the license exam.

5750  Real Estate Development (3) Prerequisite: FINAN 4740.
   Topics include the practice and process of commercial and residential development from land acquisition to permanent placement. Primary focus will consider project specific entitlement, economic and capital markets issues. Classes will be a mixture of lecture and case study.

5760  Real Estate Finance (3) Prerequisite: FINAN 4740 and Departmental consent.
   Project level real estate finance focused on analysis of feasibility and return elements of primarily commercial real estate development and management. The course concentrates on development of appropriate analytical tools for investment decision: including Excel modeling centered on "for lease" multi-family, retail, office, and industrial projects; with a brief discussion of "for sale" residential development.

5770  Real Estate Appraisal and Investments (3) Prerequisite: FINAN 4740.
   Economic theories of value as applied to residential and income properties, factors influencing real-property values, apraising real property, framework for real estate investment decisions, rate of return analysis, determinants of real estate investment policy for borrowers and lenders.

5880  Honor Student Investment Fund (0.5 to 3) Prerequisite: FINAN 3040 or Departmental Consent.
   Content varies depending on instructor. Topics have included options and futures, mergers and acquisitions.

5881  Managing the Venture Process (1.5 to 3) Cross listed as MGT 5840. Prerequisite: FINAN 5300. Co-requisite: FINAN 4211.
   Meets with MGT 6840. This capstone course provides students with hands-on experience in managing the process of evaluating and funding a start-up company with venture capital funds. Working in teams, the class will place funds from the David Eccles School of Business Student Venture Fund and work with the managers of funded companies and with the board of the Fund. The class will be structured as a year-long venture capital management project supported by a series of seminars taught by regular faculty, venture capitalists, and new venture service providers from the community. Topics will include identification of new ventures, due diligence procedures, firm valuation methods, the role of the venture capitalist as a board member, selecting and structuring management teams, setting up compensation and reward structures, and other relevant topics to be determined by the instructional team.

5980  Special Study for Advanced Undergraduates (1 to 3)

6020  Financial Management (3) Prerequisite: Master's status in the School of Business and either ACCTG 6001 or equivalent.
   Topics include financial analysis, planning, working-capital management, financial math, valuation, and capital budgeting.

6022  Financial Management (3) Prerequisite: Master's status in the School of Business and either ACCTG 6001 or equivalent.
   For PMBA students. Topics include financial analysis, planning, working-capital management, financial math, valuation, and capital budgeting.

6025  Managerial Economics (3) Prerequisite: Master's status in the School of Business and MATH 1100 or equivalent.
   Addresses fundamental principles of economics from the managerial perspective. Topics include supply and demand in markets, analysis of production and cost, consumer theory, analysis of market structure, the banking system, and macroeconomics.

6026  Managerial Economics I (1.5) Prerequisite: Master's status in the School of Business and MATH 1100 or equivalent.
   PMBA Section: Addresses fundamental principles of economics from the managerial perspective. Topics include supply and demand in markets, analysis of production and cost, consumer theory, analysis of market structure, the banking system, and macroeconomics.

6120  Economics (2 to 3) Prerequisite: Masters status in the School of Business.
   Teaches the basic principles of microeconomics and macroeconomics and their usefulness in making business decisions. The course covers supply and demand, individual?s consumption, savings, and labor behavior. In addition, the course analyzes both short-run fluctuations and long-run growth of the aggregate economy. Topics include profit maximization, utility maximization, demand, supply, uncertainty, game theory, agency theory, booms and recessions, inflation and unemployment, monetary and fiscal policy, budget and trade deficits, and interest and exchange rates.

6121  Corporate Finance (2.8) Prerequisite: Masters status in the School of Business.
   Uses modern financial theory and analytical methods as the framework for decision-making by corporate financial officers. Topics include financial mathematics, valuation of financial and real assets, capital budgeting, capital structure, cost of capital, management of working capital, issuing bonds and stocks, mergers and acquisitions, and international finance. The overall framework is maximizing shareholder value.

6122  Advanced Finance (2.8) Prerequisite: Masters status in the School of Business.
   The objectives are twofold: to apply corporate financial concepts to case situations; and to introduce more advanced concepts in corporate and investment finance. Topics include financial statement analysis, forecasting of financial statements, estimation of firms required return, determination of appropriate capital structure, application of risk management, analysis of appropriate dividend policies, economic value-added analysis, and estimation of firm valuation. The above topics are focused on financial strategies from the prospective of management, lenders, and investors.

6123  International Finance (1.4) Prerequisite: Executive MBA students.

6152  Ethics and Foundations of Business Thought (1.4) Prerequisite: Masters status in the School of Business.
   Personal and organizational values and ethics are discussed in an environment of competing and complementary rights and monetary goals. Readings of a classic nature are presented to underscore the timeless nature of business and the relevancy of great works to today's business environment.

6210  Cases in Financial Strategy (3) Prerequisite: FINAN 6020 or equivalent and consent of department.
   Application of financial principles and analysis to real business situations. Management decision making in all areas of business finance. Ethical, regulatory, and international applications to finance. Emphasis on oral and written communication skills. Personal computer applications.

6220  Advanced Corporate Finance (3) Prerequisite: FINAN 6020 or equivalent and consent of department.
   Theoretical aspects of modern corporate finance. Optimal capital structure in different market environments, dividend policy, conflict of interest between groups involved in decision making, and issues of asymmetric information and signaling.

6240  Risk Management and Derivatives (3) Prerequisite: FINAN 6020 or equivalent and consent of department.
   Recognition, measurement, and management of financial risks to which a corporation is exposed. Topics include portfolio management, measuring credit, currency, or interest rate risk, and the use of derivatives to hedge against risk.

6250  Advanced Managerial Economics (3) Prerequisite: FINAN 6025.
   Course will develop economic frameworks that are useful for business decision-making, develop[ the economics of the principal-agent relationship to examine intra-organizational issues, examine both input markets (labor markets) and output markets (with small numbers of competitors). Teaching methods will alternate between lecture and case study.

6300  Venture Capital (3) Prerequisite: FINAN 6020.
   This course will cover topics involved with raising capital for new and growing businesses. Topics include venture capital, private placements, initial public offerings (IPOs), mezzanine debt, preferred stock, warrants, and other forms of new venture financing.

6310  Advanced Venture Capital (1.5) Prerequisite: FINAN 6300.
   This is a case study discussion class. We will explore different strategies of valuation analysis as it pertains to investing in growth stage companies. Emphasis will be put on comparative company and industry analysis. The class will also deal with financial risk analysis of making an investment. We will spend part of the term dealing with real companies seeking the optimal methods of capitalizing and recapitalizing their companies. Further analysis of the interaction legal and financial structures will be dealt with as well.

6330  Credit Institutions (1.5) Prerequisite: FINAN 6020 or equivalent and consent of department.
   A graduate level class that considers financial-institution management via an in-depth analysis of commercial banks. Issues relating to interest rates and current business conditions, balance-sheet and income-statement management will be explored.

6350  Investing in Financial Markets in the E-era: Beyond Greed and Fear (1.5) Prerequisite: FINAN 6020.
   The proliferation of the internet has dramatically increased investors' access to financial markets. This course will introduce students to the efficient markets paradigm and to behavioral finance issues with a a goal of providing students with a framework for evaluating the costs and benefits associated with various investment strategies, and the implications for both investors and managers.

6360  Investments and Portfolio Management (3) Prerequisite: FINAN 6020 or equivalent and consent of department.
   Examine stocks, bonds, derivatives, and financial markets. Analytic treatment of portfolio selection and measurement of investment performance.

6370  Introduction to Investment Analysis Techniques (1.5) Prerequisite: FINAN 6020.
   This class introduces the student to modern techniques in investment analysis. Fundamental analysis is used in the process of common stock and other funancial assets selection. Market timing and the general investment approach are other concepts that are used to perform effective portfolio management.

6380  Financial Modeling (3) Prerequisite: FINAN 6020, MGT 6040 or equivalent.
   The course is an introduction to computation finance and financial econometrics. The emphasis of the course will be on making the transition from the theory of financial modeling to the econometric model using real data. Microsoft Excel is a primary tool to implement the financial models. These include but are not limited to asset return calculations, portfolio theory, index models, the capital asset pricing model, investment performance analysis, option pricing models, duration models, bond valuation and time series models. The course will also make extensive use of statistics and probability.

6390  Advanced Investments (1.5 to 3) Prerequisite: Master's Status in the School of Business.
   Options, futures contracts, and other contingent claims. Their uses, equilibrium prices, and relationships to primary securities such as stocks, bonds, and commodities. Theoretical analysis in context of markets in which they are traded.

6400  Financial Engineering (3) Prerequisite: FINAN 6020.
   This course provides students with a practical introduction to the fixed income market. Focusing in particular on interest rate products such as bonds, swaps, futures and forwards. The objective is to understand the principals driving this market. In particular we will focus on the pricing and hedging of interest rate products, paying close attention to trading strategies. Topics include: arbitrage-based pricing; yield, duration and convexity of bonds; swaps both single and multiple currency; building yield curves; using the yield curve to price and hedge instruments; bond futures; understanding factors that go into making trades and offsetting risk. This course will also emphasize various mathematical tools used to price and hedge a wide variety of interest rate products.

6550  International Finance (3) Prerequisite: FINAN 6020 or equivalent and consent of department.
   Financial management of the multinational firm or firm with international affiliates, suppliers, or markets. Subjects parallel those of standard financial management with added dimensions of exchange rate phenomena, risks and hedging, payment mechanisms, instruments, and institutions for international business.

6570  Financial Distress and Corporate Restructuring (1.5) Prerequisite: FINAN 6020.
   The course will examine important issues in corporate bankruptcy and distressed restructurings. Primary issues will be managers' choices when faced with financial distress and the interplay between creditors and the firm in resolving distress. We will examine investment banking techniques used to enhance the firm value in financial distress, alternative methods of reorganizing a firm outside of bankruptcy, and corporate bankruptcy. Understanding the legal framework of bankruptcy is important even for firms which avoid bankruptcy because the rules exert an important influence on the behavior of both creditors and debtor firms. Classes will be a mixture of lectures and cases.

6590  Mergers and Acquisitions (3) Prerequisite: FINAN 6020.
   The class explores the process of mergers and acquisitions (M&A). The alignment of M&A with strategic directions of the enterprise combined with the search process and target identification are studies. An important element of the M&A process is the valuation of the target. Accounting issues, tax, and legal considerations are examined in this context. Finally, deal negotiations, closing the deal, and effective integration of the target conclude this class.

6600  CFA (registered Trademark) Level I Seminar (3) Prerequisite: FINAN 6020 or equivalent and consent of department.
   This course is designed to partially review and supplement the information required by the Association of Investment Management and Research's (AIMR) for their Chartered Financial Analyst (registered trademark) Level I exam. The Level I exam focuses on tools and concepts that apply to investment valuation, portfolio management and includes an overview of the processes of asset valuation and portfolio management. Subject areas including financial statement analysis, macro- and micro-economics, quantitative methods of investment analysis and management, financial markets and instruments, and corporate finance will be covered with particular emphasis on those areas that are not covered thoroughly in other MS Finance classes. The course will be taught by an investment management professional and various guest lecturers.

6610  CFA (registered trademark) Level I and II Seminar (3) Prerequisite: FINAN 6600 and consent of department.
   This course is designed to partially review and supplement the information required by the Association of Investment Management and Research's (AIMR) for their Chartered Financial Analyst (registered trademark) Level I and II exams. The Level I and II exams review the material covered in FINAN 6600 with additional emphasis on industry and company analysis, specific equity and fixed income securities analysis, the ability to estimate expected investment return and risk, to compare alternative investment choices, to make investment recommendations, and to apply the AIMR Code of Ethics and Standards of Professional Conduct from an organizational and compliance perspective. The course will be taught by an investment management professional and various guest lectures.

6660  Financial Fraud and other Scams and Shenanigans (3) Prerequisite: FINAN 6020.
   Financial fraud has been, and continues to be, a significant drain on society's collective wealth and ethos. The purpose of this course are many: to trace the history of often repeated frauds, to review their Utah connections, to grasp the psychology of the victims, to discuss the ethics of the perpetrators, to examine the role of financial markets, to understand the costs to society of financial fraud, to study the responses of the law, regulation and the courts to such frauds, to investigate the reactions of the accounting and finance professions, to become better able to recognize fraud when confronted, and to know what actions to take in those circumstances. While serious in any environment, fraud seems especially egregious in periods of serious financial strain and seems unusually easy to detect during those times. This course will examine why.

6740  Real Estate Principles (3) Prerequisite: FINAN 3040 or departmental consent.
   May be taken concurrently with FINAN 3050. Topics include the economics of land, property rights, transaction instruments and legal considerations, brokerage appraisals, financing, zoning, and property management. Also included are issues of basic estate law covering estates and interests in land, contracts, mortgages and trust deeds, liens, conveyancing, and subdivision and development.

6750  Survey of Real Estate Development (3) Prerequisite: FINAN 4740.
   Meets with FINAN 5750. Topics include the practice and process of commercial and residential development from land acquisition to permanent placement. Primary focus will consider project specific entitlement, economic and capital markets issues. Classes will be a mixture of lecture and case study.

6760  Real Estate Finance (3) Prerequisite: FINAN 4740.
   Project level real estate finance focused on analysis of feasibility and return elements of primarily commercial real estate development and management. The course concentrates on development of appropriate analytical tools for investment decision: including Excel modeling centered on "for lease" multi-family, retail, office, and industrial projects; with a brief discussion of "for sale" residential development.

6770  Real Estate Analysis Techniques (1.5) Prerequisite: FINAN 6020 or Departmental Consent
   Economic theories of value as applied to income properties, factors influencing real-property values, appraising real property, framework for real estate investment decisions and rate of return analysis.

6780  Real Estate Appraisal and Investing (3) Prerequisite: FINAN 4740.
   Economic theories of value as applied to residential and income properties, factors influencing real-property values, appraising real property, framework for real estate investment decisions, rate of return analysis, determinants of real estate investment policy for borrowers and lenders.

6850  Finance Career Development (1.5)
   This class prepares Masters Students for placement and career development in Finance. The skills to be applied include communication effectiveness, professional presentations, interpersonal relations, and public speaking. Course objective include increased understanding of your strengths and weaknesses as a communicator and enhancing your effectiveness as a professional in the finance field.

6880  Bond Principles, Financial Institutions & Economy (3) Prerequisite: FINAN 6020.
   Students will learn about bond mathematics and valuation, bond selection, bond risk analysis, bond portfolio creation and management, and bond fund evaluation. All domestic bond markets will be examined. There will be a specific application of the concepts to asset backed securities (ABS), to financial institutions and their regulation, and to the state of the overall economy. Discussions of current events will be an important part of the course's content.

6881  Managing the Venture Process (1.5 to 3) Cross listed as MGT 6840. Prerequisite: FINAN 6300.
   Meets with MGT 5840. This capstone course provides students with hands-on experience in managing the process of evaluating and funding a start-up company with venture capital funds. Working in teams, the class will place funds from the David Eccles School of Business Student Venture Fund and work with the managers of funded companies and with the board of the Fund. The class will be structured as a year-long venture capital management project supported by a series of seminars taught by regular faculty, venture capitalists, and new venture service providers from the community. Topics will include identification of new ventures, due diligence procedures, firm valuation methods, the role of the venture capitalist as a board member, selecting and structuring management teams, setting up compensation and reward structures, and other relevant topics to be determined by the instructional team.

6890  Empirical Asset Pricing Principles (1.5) Prerequisite: Department consent required.
   This class covers the basics of asset pricing models from both a theoretical and empirical standpoint. The course content will range from classical asset pricing models such as the CAPM and APT up to more recent developments is asset pricing, including behavioral models of security returns.

6910  Special Study for Master's Students (0.5 to 6)
   Departmental consent is required prior to registration.

6970  Thesis Research: Master's (1 to 12)

6980  Faculty Consultation (3)

7000  Seminar in Current Topics in Financial Economics (1) Prerequisite: PhD standing.
   Recent theoretical and empirical research in financial economics. Students present papers to colleagues.

7090  Industrial Organization I (3)
   Meets with ECON 7100. Graduate level theory of industrial organization. The course will emphasize game theoretic approaches to microeconomics. The course will cover some or all of the following topics: game theory, monopoly, oligopoly, mergers, vertical restraints, price discrimination, vertical integration, product differentiation, auctions, empirical analysis of market structure, technological change, antitrust law, and regulated industries.

7091  Industrial Organization II (3) Prerequisite: FINAN 7090.
   Meets with ECON 7101. A continuation of FINAN 7090 covering advanced topics in signaling, agency, econometrics, game theory, financial economics, and other topics.

7800  Financial Economics (3) Prerequisite: PhD standing.
   Theory of the firm and consumer under certainty and general equilibrium theory as it specifically applies to business. Risks and risk aversion, expected utility theory, stat preference theory, portfolio selection, moral hazard, adverse selection, and asset pricing.

7810  Financial Economics II (1 to 2) Prerequisite: PhD standing.
   Theory of the consumer under uncertainty. Risks and risk aversion, expected utility theory, state preference theory, portfolio selection, moral hazard, adverse selection, and asset pricing.

7815  Foundations of Financial Economics (3) Prerequisite: PhD standing.
   Introduction to financial economics at a doctoral level. Topics include asset pricing, theory and empirics, options and futures, and issues in corporate finance.

7830  Empirical Asset Pricing (3) Prerequisite: PhD standing.
   Surveys the empirical asset pricing literature over approximately the last 20 years, with a special emphasis on the latest results and controversies from the literature. Topics covered include the capital asset pricing model, the arbitrage pricing theory and other characteristic-based asset pricing models. Particular attention will be given to the debate between risk and mispricing. Students will be required to give regular presentations of the covered research papers as well as be required to start an original research paper.

7835  Asset Pricing (3) Prerequisite: PhD standing.
   This course will discuss established concepts and recent developments in the area of asset pricing. The focus of the class is going to be put on the discussion of theoretical foundations and their testable implications. The goal of this class is to provide students with the appropriate techniques required to read and evaluate the academic literature in this field and to start their own research in the area of asset pricing.

7840  Derivatives (3) Prerequisite: PhD standing.
   Topics include theoretical and empirical research in option pricing, forwards and futures, the term structure of interest rates.

7850  Empirical Research in Financial Management (3) Prerequisite: PhD standing.
   Survey of the empirical research in financial management.

7860  Organizational Economics (3) Prerequisite: PhD standing.
   Why firms exist and take the form they do, incentive problems and contracting, and allocation of decision rights. How agency problems are mitigated by the market for corporate control; compensation plans; game theory.

7870  Empirical Methods in Financial Economics (3) Prerequisite: PhD standing.
   Survey of recent developments in the empirical methodology used in finance.

7880  Theoretical Research in Financial Management (3) Prerequisite: PhD standing.
   Open only to Ph.D. students. Review of current literature and theory. Topics may include dividend policy, capital structure, agency theory, models of asymmetric information, corporate control, mergers and acquisitions, and leasing.

7890  Theoretical Research in Financial Markets (3) Prerequisite: PhD standing.
   Open only to Ph.D. students. Review of current literature and theory. Topics may include theoretical and empirical research in market microstructure.

7900  Advanced Topics in Finance (3) Prerequisite: PhD standing.
   Open only to Ph.D. students. Review of current literature and theory.

7910  Special Study for PhD Students (1 to 9) Prerequisite: Ph.D. students only.
   To do a special study with a professor in a particular area of Finance.

7920  Directed Summer Ph.D. Research (1 to 6) Prerequisite: PhD level course open to Ph.D. students only.
   Directed summer PhD research leading to meeting the requirements of PhD Candidacy; specific goals as prescribed by the student's stage in the PhD Program.

7970  Thesis Research: Ph.D. (1 to 9)

7980  Faculty Consultation (1 to 6)

7990  Continuing Registration: Ph.D. (0)