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Program Requirements
The Finance concentration has been designed to provide understanding of key concepts in finance theory, financial institutions, investment analysis, risk management, and applied techniques. Graduates find a strong demand among financial organizations, governments, and non-financial firms where they pursue careers that lead to positions such as Managing Partner, Treasurer, and V.P. Finance.
Required Courses (9 credits)
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FINE 342 Corporate Finance (3 credits)
Overview
Finance : In-depth study of corporate finance, risk, diversification, portfolio analysis, and capital market theory.
Terms: Fall 2019, Winter 2020, Summer 2020
Instructors: Madan, Sujata; Hammami, Larbi (Fall) Madan, Sujata; Rivera, Thomas (Winter) Hong, Byung Jin (Summer)
Prerequisite: MGCR 341
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FINE 441 Investment Management (3 credits)
Overview
Finance : Application of investment principles and security analysis to the selection and comparison of equity and fixed income securities in the current economic and financial environment. Also covered are: determinants of stock prices, growth models and portfolio diversification.
Terms: Fall 2019, Winter 2020, Summer 2020
Instructors: Hammami, Larbi; Chaudhury, Mohammed M (Fall) Croitoru, Benjamin; Goyenko, Ruslan (Winter) Lu, Yiliu; Hammami, Larbi (Summer)
Prerequisite: MGCR 341
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FINE 443 Applied Corporate Finance (3 credits)
Overview
Finance : Concepts and techniques are applied to problems faced by managers in Corporate Finance, such as working capital management, capital budgeting, capital structure, dividend policy, cost of capital, and mergers and acquisition. Application of theory and techniques through case studies.
Terms: Fall 2019, Winter 2020, Summer 2020
Instructors: Kondo, Jiro (Fall) Hammami, Larbi (Winter) De Motta, Adolfo (Summer)
Prerequisite: FINE 342
Complementary Courses (6 credits)
Selected from the following:
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FINE 434 Topics in Finance 1 (3 credits)
Overview
Finance : Topics will be selected from current issues in the Finance Area.
Terms: Winter 2020
Instructors: Saleh, Fahad; Schumacher, David; Tinn, Katrin (Winter)
Prerequisite: MGCR 341
- FINE 435 Advanced Topics in Finance (3 credits)
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FINE 442 Capital Markets and Institutions (3 credits)
Overview
Finance : Functions of the capital market through flow of funds analysis and an examination of portfolio activities of financial intermediaries. Also covered are: securities regulations and ethical considerations, the term structure of interest rates and risk and rates of return in debt and equity markets.
Terms: Fall 2019, Winter 2020
Instructors: Barras, Laurent (Fall) Hammami, Larbi (Winter)
Prerequisite: MGCR 341
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FINE 444 Principles and Strategies of Securities Trading (3 credits)
Overview
Finance : Half theory and half practical exercises using Rotman Interactive Trader software in the trading lab. Theory: principles of trading in different asset classes. Software simulated cases: the actual market environment is simulated where class participants trade in real time. As the market is running, students, given previously prepared strategies, start affecting market prices and see their profit and losses, given the strategies they implement.
Terms: Winter 2020
Instructors: Goyenko, Ruslan (Winter)
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FINE 445 Real Estate Finance (3 credits)
Overview
Finance : Fundamentals of mortgages from the viewpoint of both consumer and the firm. Emphasis on legal, mathematical and financial structure, provides a micro basis for analysis of the functions and performance of the mortgage market, in conjunction with the housing market.
Terms: Fall 2019
Instructors: Chaudhury, Mohammed M (Fall)
Prerequisite: MGCR 341
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FINE 446 Behavioural Finance (3 credits)
Overview
Finance : This course will focus on how, why and to what extent our "humanness" affects decision making pertaining to financial issues. Until Kahneman and Tversky came out with their landmark work, known as prospect theory, economics was based on the notion that individuals, companies, and even countries make decisions based on their financial self-interest. In fact this is one of the tenets of modern portfolio theory. Topics covered in the course include loss aversion, the disposition effect, the framing effect, and the endowment effect.
Terms: Fall 2019, Winter 2020
Instructors: Tory, Jeffrey S D (Fall) Kaczor, Joel (Winter)
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FINE 447 Venture Capital and Entrepreneurial Finance (3 credits)
Overview
Finance : This course is designed to provide an introduction to the startup production process with an emphasis on the institutions, processes, and problem solving approaches used in the financing of startup activity. The primary focus of the course is the venture capital industry though classroom discussions will also touch upon alternative funding channels like angel investors, accelerators and incubators, crowdfunding platforms, etc.
Terms: Fall 2019, Winter 2020
Instructors: Kondo, Jiro (Fall) Kondo, Jiro (Winter)
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FINE 448 Financial Derivatives (3 credits)
Overview
Finance : The course will concentrate on both the analytical and practical aspects of investments in options and futures. The first part of the course concentrates on option and futures valuation, considering both discrete and continuous time models. The second part of the course concentrates on the practical aspects of options and futures trading.
Terms: Fall 2019, Winter 2020, Summer 2020
Instructors: Augustin, Patrick (Fall) Andrei, Daniel (Winter) Shahrad, Ali (Summer)
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FINE 449 Market Risk Models (3 credits)
Overview
Finance : Dynamic market risk models including GARCH volatility models, dynamic conditional correlation models, non-normal return distributions, option pricing allowing for skewness and kurtosis, and option risk management using delta, delta-gamma and full-valuation.
Terms: Fall 2019
Instructors: Ericsson, Jan Edvard (Fall)
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FINE 451 Fixed Income Analysis (3 credits)
Overview
Finance : Fixed income financial instruments and their uses for both financial engineering and risk management (at the trading desk and aggregate firm level). This will involve coverage of fixed income mathematics, risk management concepts, term structure modeling, derivatives valuation and credit risk analysis.
Terms: Winter 2020
Instructors: Roussellet, Guillaume (Winter)
Prerequisite: FINE 441
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FINE 452 Applied Quantitative Finance (3 credits)
Overview
Finance : The course is built around a series of practical applications (backtesting trading strategies, yield curve modelling, derivatives hedging) and consists of lab sessions where lectures are mixed with time and support for solving the tasks in Matlab. No programming experience is required, but a willingness to learn is.
Terms: Fall 2019
Instructors: Ghosh, Anisha (Fall)
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FINE 456 Trading in Financial Securities
(3 credits)
Overview
Finance : Generating alpha and alternative beta by creating asymmetric outcomes using securities selection and market timing, money and risk management, trading strategies and systems across asset classes, including fixed income, commodities, equities and foreign exchange. Topics include Hedge Funds, investment themes, execution strategies on a wide range of financial securities, including equities, ETPs, currencies, futures and options.
Terms: Fall 2019, Winter 2020
Instructors: Gerov, Matey (Fall) Gerov, Matey (Winter)
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FINE 480 Global Investments (3 credits)
Overview
Finance : Major principles of international investments and global asset allocation, focusing on recent developments in modeling and predicting global asset returns. Main approaches to stock selection, style investing, and special issues such as indirect diversification and country and industry effects in equity pricing. Use of Datastream and other financial data sources.
Terms: This course is not scheduled for the 2019-2020 academic year.
Instructors: There are no professors associated with this course for the 2019-2020 academic year.
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FINE 482 International Finance 1 (3 credits)
Overview
Finance : The international financial environment as it affects the multinational manager. Balance of payments concepts, adjustment process of the external imbalances and the international monetary system. In depth study of the institutional and theoretical aspects of foreign exchange markets; international capital markets, including Eurobonds and eurocredit markets.
Terms: Fall 2019, Winter 2020
Instructors: Sarkissian, Sergei (Fall) Chaudhury, Mohammed M (Winter)
Prerequisite: MGCR 341
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FINE 492 International Corporate Finance (3 credits)
Overview
Finance : Focus on the financial and operational management of multinational enterprises including (but not limited to) financing and capital budgeting decisions, corporate governance and its implications on valuation and control, and recent developments in international capital markets.
Terms: This course is not scheduled for the 2019-2020 academic year.
Instructors: There are no professors associated with this course for the 2019-2020 academic year.
Prerequisite: FINE 342
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FINE 541N1 Applied Investments (1.5 credits)
Overview
Finance : Students are exposed to practical aspects of managing investment portfolios. A principal activity of students is participation in the management of a substantial investment fund.
Terms: Winter 2020
Instructors: Barras, Laurent; Betermier, Sebastien (Winter)
Prerequisite (Undergraduate): FINE 441. Limited enrolment
Prerequisite (Graduate): Permission of the instructor.
Students must also register for FINE 541N2
No credit will be given for this course unless both FINE 541N1 and FINE 541N2 are successfully completed in a twelve month period
Restriction: Open to U2 students only in the Winter term and open to U3 students only in the Fall term.
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FINE 541N2 Applied Investments (1.5 credits)
Overview
Finance : See FINE 541N1 for course description.
Terms: Fall 2019
Instructors: Barras, Laurent; Betermier, Sebastien (Fall)
Prerequisite: FINE 541N1
No credit will be given for this course unless both FINE 541N1 and FINE 541N2 are successfully completed in a twelve month period
Restriction: Open to U2 students only in the Winter term and open to U3 students only in the Fall term.
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FINE 547 Advanced Finance Seminar (3 credits)
Overview
Finance : Selected topics will be discussed by Faculty members, invited guest speakers, and the students. Each student is required to select a topic for study and prepare a written report for presentation.
Terms: Fall 2019
Instructors: Errunza, Vihang R (Fall)
