Finance 390

52:390:201 Small Business Finance (3) Financial problems and the tools to solve them presented in a manner most relevant to small businesses. Topics include understanding financial statements, cash planning, profitability and risk, time value of money, project selection, funding of growth, limiting tax exposure, and financial dealing with foreign suppliers and customers. Prerequisite: 52:010:101.

52:390:301 Principles of Finance (3) Forms of business organization, the federal income tax system, financial markets and institutions, time value of money, bonds and stocks valuation, calculating the cost of capital, capital budgeting, flow of funds and ratio analysis, operating and financial leverage, working capital management. Prerequisites: 52:010:101; 50:220:105,106; 50:960:283.

52:390:315 Investments and Portfolio Management (3) Organization and functioning of securities markets, efficient capital markets, modern portfolio management, asset pricing models, security valuation principles and practices, analysis and management of bonds and common stocks, derivative securities, evaluation of portfolio performance. Prerequisites: 52:390:301, 50:960:284.

52:390:320 Global Financial Markets (3) International monetary system, measurement of international trade and investment, global banking, eurocurrency markets, global securities markets, foreign exchange markets, emerging capital markets, global portfolio management. Prerequisites: 52:390:301, 50:960:284.

52:390:325 Financial Markets and Institutions (3) Regulatory structure of the banking industry; performance analysis and strategic planning. Asset-liability gap management: hedging, swaps, futures. Asset management: asset selection and credit analysis. Liability-capital management: deposit pricing and services and dividend policy. International banking also addressed. Prerequisite: 52:390:301.

52:390:330 Short-Term Financial Management (3) Efficient management of the firm's short-term assets and liabilities. Topics include cash management and banking relations, short-term investments, accounts receivable management, accounts payable management, short-term borrowing, and electronic data interchange. Background material on commercial banking and the Federal Reserve system also covered. Prerequisite: 52:390:301.

52:390:340 Theory of Financial Management (3) Advanced issues in capital budgeting-replacement policy, optimal investment horizon, and budgeting under taxes and inflation; financial leverage, firm valuation, and the cost of capital; earnings distribution policy; corporate acquisitions. Prerequisite: 52:390:301.

52:390:350 Multinational Corporate Finance (3) Financial management for the multinational firm--measuring and managing foreign exchange exposure, current asset management, multinational capital budgeting, financing of international projects, financing of trade, political risk management, taxation, and international transfer pricing. Prerequisites: 52:390:301, 50:960:284.

52:390:415 Statistical Financial Modeling (3) Model building and analysis of financial data using statistical techniques and computer software such as SAS or SPSS. Topics include financial ratios and bond ratings, prediction of financial distress and acquisitions, evaluation of business loans, estimation of portfolio inputs, evaluation of portfolio performance, sales and earnings forecasting. Prerequisite: 52:390:315.

52:390:425 Fixed Income Securities (3) Bond-price, yield, and total-return determination; interest rate risk; duration and convexity; the institutional characteristics of primitive and derivative securities traded in the domestic and international fixed-income markets; the term structure of interest rates; mortgages and mortgage pass-through securities; forwards, futures, options, swaps of fixed-income securities; immunization, dedication, indexing, and hedging with derivative securities. Prerequisites: 52:390:301, 315.

52:390:435 Derivative Securities (3) Functioning of futures and options markets; futures price structure, hedging, risk and return, futures contracts on stock indices, interest rates, and currency; options price structure and arbitrage, valuation, and trading strategies; options contracts on stock indices, interest rate, and currency; swaps. Prerequisites: 52:390:301, 315.

52:390:450 Applications of Financial Management (3) Design to integrate risk and return relationships, valuation models, cost of capital, capital structure, capital budgeting, dividend policy, and working capital management into practice of financial management. Computer applications and case studies emphasized. Prerequisite: 52:390:315.

52:390:487 Independent Study in Finance (BA 1-3) Individual study under the supervision of finance faculty, usually on a specified project or paper, designed to enrich the educational experience. Prerequisite: Permission of instructor.

52:390:491,492 Special Topics in Finance (3,3) Designed to integrate course materials, introduce new philosophies, theories, and techniques in finance, and apply them to selected problems. Extensive reading and research reports required. Topics vary from year to year. Prerequisite: Permission of instructor.

52:390:495 Honors Thesis in Finance (3,3) An individual research project. Prerequisite: Permission of instructor.

52:390:497 Finance Internship (3) A structured practical program conducted by a business in cooperation with the School of Business-Camden. Prerequisites: Cumulative grade-point average of 3.0; permission of internship director.