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22:223:520
Aggregate Economic Analysis - FT (3)
Overview of the fundamentals of fiscal and monetary policy design and analysis. Both the Keynesian as well as the supply side models are analyzed in a global context. Demystifies macroeconomic policy and equips master of business administration (M.B.A.) students with the tools necessary for fiscal and monetary policy analyses and their effects on inflation, outlook, confidence, investment, and long-term interest rates.
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22:223:521
Managerial Economic Analysis - FT (3)
Develops the student's ability to analyze managerial problems from an economic perspective. Focuses on prescription (basic rules) rather than on the description. Applies fundamental economic concepts to complex real-time situations. This course will set the intellectual underpinning for many of the courses of the M.B.A. program. Since the concepts developed in this course are important in almost all subsequent courses, students need to be comfortable with the tools and decision rules of this course.
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22:223:581
Managerial Economic Analysis (3)
Introduces the aspects of economics that are most relevant to the operation of the individual firm or nonprofit organization. Covers theory of individual economic behavior, demand theory and demand estimation, cost and supply, price determination, production decisions, and industry structure.
Prerequisite: Fulfillment of calculus/statistics qualifying requirement.
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22:223:591
Aggregate Economic Analysis (3)
Introduces theory and empirical estimation of aggregate economic relationships, including the general price level, income, output, employment, and wages. Covers national income accounting and other economic data sources, consumption, investment, the banking system and the supply of and demand for money, interest rates, prices, wages and employment, business fluctuations, and international economics.
Prerequisites: Fulfillment of calculus/statistics qualifying requirement and (recommended) 22:223:581.
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22:223:607
Pharmaceutical Industry: Issues, Structure, and Dynamics (3)
To understand the pharmaceutical market and the nature of competition among pharmaceutical companies, one must be familiar with the R&D process and its role in the industry. One must also understand the role of the FDA and the underlying process of approving drugs before they become available in the market. The specific topics to be covered in this course are: the FDA's drug approval process, different stages of tests of the drug, the costs and the associated risks, quantifying the financial value of R&D, impact of new drug for market power, the concept of drug portfolio, the role of private research firms, R&D project management, and other relevant topics.
Prerequisite or corequisite: 22:373:622.
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22:223:641
International Trade and Macroeconomics (3)
Extends the tools of macroeconomic policy analysis to incorporate the international sector. Particular attention will be devoted to topics and issues such as the abolishment of the Gold Standard, the present fluctuations in exchange rates, central bank intervention policies including dirty floats, theories of international trade, tariffs and quotas, world currency markets including Eurodollars, and the effects of trade deficits and capital inflows. Material will be supplemented by discussions of current special topics such as the unification of Europe in 1992.
Prerequisite: 22:223:591.
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22:223:647
Managerial Incentives (3)
Designed to apply the economic tools of analysis to the problems of incentives, delegation, and information to the profit-maximizing problem of the firm. Management fads come and go but each of these, and others, can be analyzed by how they overcome the coordination and decision-making problems of different firms in different environments. Organization and business strategies are as important to success as technology, cost, and demand. Proper incentives are required to align individual and organizational objectives. Good decisions come from placing authority in the hands of those with the necessary information. Incentives and empowerment must be applied together so that those who are making the decisions have the incentives to make decisions that are best for the firm. The main concerns in any approach to organization are coordination, incentives, and motivation.
Prerequisites: 22:223:581, 591, and 22:390:587. This course may also be used as a finance elective.
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22:373:621
Legal, Regulatory, and Ethical Issues in the Pharmaceutical Industry
Successful managers of pharmaceutical firms must learn to function in a multifaceted, ever-changing environment of diverse challenges. These challenges come from government and from society. The challenges are legal, regulatory, and ethical. They are increasingly international in nature. The ability to function in this external environment is critical to the economic success of the modern pharmaceutical firm. The challenges of the business environment also represent an opportunity. Firms that effectively manage this environment will gain a competitive edge that can mean the difference between success and failure. The goal of this course is to help aspiring managers in pharmaceutical firms to develop the knowledge and skills to forge successful strategies for managing relations with governments and public stakeholders.
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22:390:622
U.S. Health Care System and Pharmaceutical Managed Markets
This course will focus on the understanding of the organization of the U S health care environment and the role of the pharmaceutical industry. Topics of discussion will include the nature and characteristics of the health care system, public I private sector roles, health care markets and competition, impact of managed care and insurance, congressional proposals and regulatory characteristics, health policy, health care reform strategies, and the role of patients and consumers. Emphasis will be placed on how these influences relate to the pharmaceutical industry and the role of the pharmaceutical company in the current health care environment.
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22:390:587
Financial Management (3)
Provides a general survey of the field, including the basic principles of corporate finance, financial markets and institutions, and investment theory. Corporate finance topics covered include: the objective of the firm, the valuation of the firm, introduction to capital budgeting, capital structure analysis, and financial statement analysis. Financial markets and institutions studied include description of the capital markets. Investment analysis topics include pricing of bonds and stocks, an introduction to portfolio theory, and asset pricing models.
Prerequisite: 22:010:577 and fulfillment of calculus/statistic qualifying requirement.
Corequisite: 22:223:521.
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22:390:601
Corporate Risk Management (3)
Provides a survey of the current practices of businesses in protecting themselves from chance events that threaten their financial assets or their operations.
Prerequisite: 22:390:587.
Corequisite: 22:223:591.
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22:390:603
Investment Analysis and Management (3)
Provides overview of the fields of security analysis and portfolio management. Introduces the analysis of individual investments with special reference to common stocks and bonds. Designed for the finance major who is interested in the security/investment area as a possible career.
Prerequisite: 22:390:587.
Corequisite: 22:223:591.
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22:390:604
Financial Institutions and Markets (3)
Provides a comprehensive review of U.S. financial markets. Survey of the organization of the U.S. financial markets and institutions, such as the banking system, and equity and bond markets. Provides the theoretical underpinnings of how the structure of capital markets impacts the price of financial securities.
Prerequisite: 22:390:587.
Corequisite: 22:223:591.
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22:390:605
Advanced Financial Management (3)
Examines the problems faced by the corporate financial manager on the theoretical, analytical, and applied level. Analyzes the impact of the financing decision upon the value of the firm. Theoretical and analytical aspects of capital budgeting are examined in detail with emphasis on methods of incorporating risk into the capital budgeting decision. An analytical framework is presented to evaluate leasing, bond refunding, and mergers and acquisitions. Theories of corporate governance are discussed.
Prerequisite: 22:390:587.
Corequisite: 22:223:591.
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22:390:606
International Financial Markets (3)
Provides a comprehensive review of the international financial markets. Covers a survey of the organization of the international. financial markets and institutions, such as the international banking system, and equity and bond markets. The course provides the theoretical underpinnings as to how the structure of the international capital markets impacts the price of financial securities and exchange rates.
Prerequisite: 22:390:587.
Corequisite: 22:223:591.
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22:390:608
Portfolio Management (3)
Provides an in-depth analysis of the theory and practice involved when securities are combined into portfolios. Like 390:603, the course is designed for finance majors interested in a career in money management.
Prerequisites: 22:390:587 and 603.
Corequisite: 22:223:591.
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22:390:609
Options/Derivatives (3)
Introduces the student to asset pricing models used by academicians and practitioners to price futures and options. Subjects include the nature of the derivative markets, the pricing of instruments in the markets, and the use of such instruments by both speculators and hedgers.
Prerequisite: 22:390:587.
Corequisite: 22:223:591.
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22:390:611
Analysis of Fixed-Income Securities (3)
Explores the investment characteristics, pricing, and risk/reward potential of fixed-income securities. The securities covered include bonds---with and without embedded options; mortgages and mortgage-backed securities together with their derivatives such as collateralized mortgage obligations (CMO's), income-only (IO's) and principal-only (PO's) strips; interest rate swaps; and interest rate futures and option contracts. In addition, this course will explore the strategies for investing in portfolios of fixed-income securities.
Prerequisite: 22:390:587.
Corequisite: 22:223:591.
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22:390:612
Small Business Finance (3)
The financing problems that face a new and/or small business can be broken into financial planning, valuing, and raising capital. While these topics were discussed in other courses, they form the main portion of this course, which is designed for those planning to start a business or take over an existing business. It will also be beneficial for those planning careers that must interact with small or new business (e.g. banking, insurance, etc.).
Prerequisite: 22:390:587.
Corequisite: 22:223:591.
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22:390:613
Financial Statement Analysis (3)
Presents techniques for analyzing a firm's current and projected financial statements for the purposes of credit analysis, security analysis, and internal financial analysis. Topics covered include financial distress prediction, evaluation of short-term and long-term loan requests, the impact of accounting information on security returns, determinants of bond ratings and yields, and the reliability of historical and forecasted accounting data. A working knowledge of spreadsheet analysis is expected. Special emphasis is placed on acquiring data from printed and computer databases and an introduction to specialized online databases and the internet.
Prerequisites: 22:390:587 and 22:010:577. Students may take 22:010:648 as a substitute. Note that if a student takes 22:010:648, they may not take 22:390:613.
Corequisite: 22:223:591.
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22:390:641-659
Special Topics Courses
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22:390:650
Special Topic: International Banking and Capital Markets
Please contact the department to obtain more information on this course.
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26:223:552
Microeconomic Theory (3)
Surveys and applies elements of marginal analysis, capital theory, utility, and risk analysis to problems in demand analysis, production, cost and distribution, market structure and pricing, and capital budgeting.
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26:223:553
Macroeconomic Theory (3)
Models, with attention to empirical work, of aggregate demand and supply and their components, i.e., investments and consumption; supply and demand for money and other financial assets; and capital and labor markets. Determinants of the price level and of inflation; rates of interest, employment, and income; and international macroeconomic relations. Reviews major issues in the evaluation of monetary policy.
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26:223:554
Econometrics (3)
Statistical techniques for the analysis of models applicable to economic data and their application to management problems.
Prerequisite: 26:960:577.
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26:223:655
Advanced Econometrics (3)
Simultaneous equation models, seemingly unrelated regressions, autocorrelation, ARIMA models, and nonlinear estimation. Applications of such techniques to theoretical and empirical problems.
Prerequisites: 26:223:552 and 554.
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26:223:657
Advanced Microeconomics (3)
An advanced theoretical treatment of major topics in microeconomics, including alternative models of consumer demand and the demand for the factors of production; the theory of market equilibria, their existence and stability; and the concepts of perfect competition, monopoly, and other market imperfections.
Prerequisites: 26:223:552 and 26:960:577.
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26:390:571
Investments (3)
Surveys the fundamental assumptions and the analytical techniques of the modern theory of finance. Topics include choices involving risk using utility theory and state preference, portfolio selection, capital market equilibrium and its implications for corporate finance and portfolio selections, and option theory.
Prerequisites: 26:223:552 and 26:960:577.
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26:390:572
Corporate Finance (3)
Basic knowledge of theoretical and empirical model building in the area of corporate finance.
Prerequisite: 26:390:571.
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