Managerial Accounting (MFE 6100)
MFE 6100 is an introduction to the foundations of financial and managerial accounting. The course covers topics that are essential for preparing, reading, understanding, interpreting, and using financial statements that are prepared in accordance with generally accepted accounting principles (GAAP). The course also covers uses of accounting information for making managerial decisions.
Financial Statement Analysis (MFE 6110)
This course provides students a solid foundation in the environment of financial reporting, including the following: objectives of financial reporting, qualitative characteristics of accounting information, proficiency with introduction to SEC reporting requirements, audit opinions, and standard setting at the US and international levels. Other topics are cash flow statements, inventories, depreciation/asset impairment, issues in revenue recognition, bonds, leases, pensions, deferred taxes, consolidation processes, foreign currency translation, stock based compensation, hedging, and financial instruments having characteristics of both debt and equity.
Quantitative Analysis for Financial Markets (MFE 6000)
Students learn the basic tools necessary for understanding how economic theory is applied to financial markets. Financial economic theory is expressed in the language of mathematics and is applied to the real world using statistics. This course offers a blend of mathematics and statistics designed especially for the financial market practitioner. Major topics include solving systems of equations, optimization, probability theory and hypothesis testing.
Macroeconomics and Business Fluctuations (MFE 6010)
The course covers analysis of national and international economic environments, the structure of macroeconomic systems, as well as questions and controversies concerning policy questions and empirical estimates of key relationships. Topics will include the following: aggregate expenditures, national income, measurement of gross domestic product, savings and investment in open economies, economic growth, unemployment and inflation, fiscal policies, money supply process, asset markets and monetary policy.
Managerial Economics (MFE 6050)
This is a course in applied microeconomics. Theories of consumer and firm behavior will be developed and applied to business decisions regarding allocation of scarce resources and pricing of commodities. The objectives are to demonstrate how the free market economy functions and how modern managers may use microeconomic tools to manage resources efficiently. The topics to be discussed include: goals of a firm, supply and demand, demand elasticity, demand estimation,, forecasting, the theory of production and cost, the estimation of production and cost functions, market structure, output and pricing decisions, break-even analysis, special pricing practices, capital budgeting, time and uncertainty, and profit maximization under uncertainty.
Statistics & Econometrics: Theory and Applications (MFE 6390)
In this course, students will first study the basic statistical concepts such as probability, various probability distributions, and hypothesis testing. Then they will study the classical linear regression model. Problems with the classical model, such as heteroscedasticity, serial correlation, and simultaneous equation bias will be studied. Applications to the study of financial markets make up the next portion of the course. Topics include empirical models of financial markets, such as the capital asset pricing model (CAPM), the portfolio balance model, and the arbitrage pricing theory (APT). Time-series techniques will also be applied to test foreign exchange market efficiency and studies of interest rate determination, the demand for money, and models of inflation. Advanced econometric procedures such as ARMA and GARCH modeling will be applied to the study of these and other problems in applied financial economics.
International Trade and Financial Economics (MFE 6400)
The benefits from international trade, the law of comparative advantage, the factor endowment explanation of international trade, economies of scale as a basis for trade, the preference similarity hypothesis (Linder's explanation of international trade), the effects of trade barriers (tariffs, quotas, etc.) on domestic production, prices, and consumption, economic integration (the European Economic Union), different theories of exchange rate determination, spot, and forward markets, currency swaps, interest arbitrage, interest rate parity, portfolio theory, speculation, balance of payments, international indebtedness, the interrelationship between exchange rates, balance of payments, fiscal and monetary policy, international banking: reserves, debt, and risk, and Eurocurrency markets, interest arbitrage, interest rate parity, portfolio theory, speculation, balance of payments, international indebtedness, the interrelationship between exchange rates, balance of payments, fiscal and monetary policy, international banking: reserves, debt, and risk, and Eurocurrency markets.
Corporate Finance (MFE 6200)
The role and responsibilities of today's financial manager with special emphasis on advanced tools and techniques for solving complex financial problems. Topics of special interest in budgeting, funds analysis, and allocation will be discussed. Professional ethics will be discussed based on the Standards of Practice Handbook published by the CFA Institute. This course also covers the use of Excel in Finance.
Quantitative Analysis in Equity Markets (MFE 6220)
The course covers the principles of valuation for common stock (equities) and the principles of portfolio management for equity portfolios. This class presents tools and theories used by investors to identify and evaluate various investment alternatives in forming investment portfolios. The topics include sources of investment information, relationship between investment risks and returns, analysis and valuation of securities (focusing on common stocks), portfolio theory, portfolio performance evaluation, and investor and market behavior. For forecasting purposes in equity markets, the course covers Autoregressive and Moving average (ARMA) models, random walks and unit roots, ARCH/GARCH models, and the Vector Autoregressive (VAR) models. Students will obtain a theoretical understanding of each model and their applications in equities. The application of these models is studied using econometric software such as SAS and E-Views.
Portfolio Theory (MFE 6230)
Course covers the principles and theory of evaluation, analysis, and determination of investment media. The decision making process in the management of individual and institutional securities portfolios. Model building and other criteria applicable to selection, risk-return tradeoffs revision, and evaluation of portfolio performance, will be included.
Financial Derivatives (MFE 6440)
This is a risk management course. It deals with contract specifications, characteristics of options and trading procedures and the pricing mechanism that joins commodity, options, futures and futures options markets. Examples on the use of these instruments are discussed to illustrate how risk is managed in hedging or speculation. This course offers an introduction to futures and options, including the financial instruments themselves, the markets where they are traded and strategies which might give rise to their use. The specific items underlying the derivatives include the traditional commodity markets for grains, livestock, precious metals, energy and soft commodities, and the newer financial derivative market for stocks, stock indices, bonds and currencies.
Fixed Income Analysis (MFE 6500)
This course introduces the students the categories and features of modern fixed income investment vehicles, their risk and return characteristics and valuation techniques for these instruments. Theories of interest rates will also be covered. In addition, the characteristics and valuation of alternative investment vehicles such as hedge funds, private equity, real estate etc. will also be discussed. Finally, professional ethics will be discussed based on the Standards of Practice Handbook published by the CFA Institute.
Research Project (MFE 6960)
This course involves writing a research project on the topic of your choice. The research is supervised by a faculty.