Graduate Business Certificates: Finance

Succeeding in today’s business environment demands an in-depth and actionable understanding of financial complexities. Daniels College of Business offers three Graduate Business Certificates that supply you with the critical financial and technical tools needed to evaluate financial data and make financially sound decisions.

Each certificate program consists of four required graduate-level courses (16 credit hours). You’ll take the same graduate-level concentration courses as MBA or master’s degree students at Daniels, but in a time frame that works best for you.

Course Descriptions»

Certificate programs offered:

Foundations of Finance

Empowers employees at any level to understand, interpret and make strategic decisions based on the financial constitution of a business. You’ll learn how to identify a company’s strengths and weaknesses as revealed by financial statements as well as how to capitalize on that information.

Courses:

ACTG 4610 Financial Accounting and Reporting | 4 Credit Hours

The purpose of this course is to provide you with an understanding of financial statements issued by companies to external parties, such as shareholders, creditors, and government agencies such as the Securities and Exchange Commission (SEC). To achieve this purpose, the course will: 1) introduce students to the most important issues relating to the assets, liabilities and stockholders' equity accounts reported on the balance and income statement reporting issues; 2) provide students with sufficient understanding of the reporting mechanics to locate and interpret relevant information in the financial statements; 3) assist students in developing skills that can be used in analyzing financial information provided by companies; and 4) examine major transaction categories and accounting policies of business firms and their financial statement implications. Upon completion of the course, students should be able to appreciate both the usefulness and the limitations of accounting information. The perspective of the course is at all times that of the user, rather than a preparer, of financial statements.

ACTG 4610 Financial Accounting and Reporting | 4 Credit Hours»

FIN 4630 Managerial Finance | 4 Credit Hours

This course discusses basic principles of finance and provides practical tools for financial decisions and valuation. The purpose of this course is to give students a thorough introduction to the basics of finance. You will learn how to value distant and uncertain cash flows. You will learn how to apply the tools to make investment decisions for a firm. You will also survey the fundamental drivers of financing policy in a corporation and learn how financial markets interact with businesses. This course is divided into four sections. The first covers the use of financial statements to glean information about the firm, its performance and financial needs. Section II deals with the basic building blocks of financial valuation: time value of money analysis, bond and stock valuation. During the remainder of the course, we turn our attention to applying the tools of valuation to the main types of corporate financial decisions. Section III analyzes firms’ capital budgeting decisions and Section IV considers a company’s investment in working capital. Offered FA, WI, SP and Sum. Prerequisite: ACTG 4610

FIN 4630 Managerial Finance | 4 Credit Hours»

FIN 4200 Financial Institutions and Markets | 4 Credit Hours

This course is a survey of equity and credit markets.  It is designed to provide an understanding of the financial markets, the securities traded in those markets and the risk-return relationship in the equity and credit markets.  Students will study the distinctions between the various securities traded in these financial markets and determine how each security is priced or valued.  The statistical foundations of risk and return will be explored.  A fundamental understanding of the theoretical and empirical foundations of financial asset pricing models will be covered.  Principal content elements will include market efficiency, diversification, the CAPM and Fama-French models, yield to maturity for corporate bonds, the term structure of interest rates, duration and convexity as well as return calculations used in the money market. Offered FA, WI, SP. Prerequisites: FIN 4630 and FIN 4170.

FIN 4200 Financial Institutions and Markets | 4 Credit Hours»

FIN 4410 Financial Planning and Analysis | 4 Credit Hours

This course builds on the material learned in FIN 4630. It examines the determinants of return on equity and the capital structure decision, with an emphasis on how these affect shareholder value and the value of the firm. Corporate financial planning and sustainable growth will be addressed. Business valuation will be calculated using proforma financial statements to estimate free cash flows in the discounted cash flow approach. Other approaches to business valuation will also be examined. The course will also cover EPS drivers and cash flow statement analysis. PREREQ: FIN 4630 or equivalent. Offered FA, WI, SP, and Sum. Prerequisite: FIN 4630.

FIN 4410 Financial Planning and Analysis | 4 Credit Hours»

Corporate Finance

Provides the critical financial and technical knowledge to help you dissect, analyze and interpret corporate financial data to make sound business decisions.

Courses (choose 4):

FIN 4150 Advanced Business Valuation | 4 Credit Hours

The objective of this course is to present advanced valuation techniques to deepen students' understanding and enhance their knowledge of valuation theory and practical application. Prerequisite: FIN 4410. Offered WI or SP

FIN 4150 Advanced Business Valuation | 4 Credit Hours»

FIN 4160 Treasury Management | 4 Credit Hours

The objective of the course is to provide students with a comprehensive understanding of how various treasury functions are managed in a corporation and build students' capabilities to assume the role of a proficient treasury manager. Prerequisite: FIN 4430. Offered WI or SP.

FIN 4160 Treasury Management | 4 Credit Hours»

FIN 4410 Financial Planning and Analysis | 4 Credit Hours

This course builds on the material learned in FIN 4630. It examines the determinants of return on equity and the capital structure decision, with an emphasis on how these affect shareholder value and the value of the firm. Corporate financial planning and sustainable growth will be addressed. Business valuation will be calculated using proforma financial statements to estimate free cash flows in the discounted cash flow approach. Other approaches to business valuation will also be examined. The course will also cover EPS drivers and cash flow statement analysis. PREREQ: FIN 4630 or equivalent. Offered FA, WI, SP, and Sum. Prerequisite: FIN 4630.

FIN 4410 Financial Planning and Analysis | 4 Credit Hours»

FIN 4420 Capital Expenditures Analysis | 4 Credit Hours

This course will show you how managers of large corporations create value for their owners. The major focus of the course will be on capital investment decisions are made, but several ways to create value, such as the decision to lease or buy an asset and merger decisions will also be examined. A manager’s ability to create shareholder value through asset acquisitions depends upon having defined appropriate criteria for making accept / reject decisions. These criteria must, therefore, be firmly grounded in financial theory. Thus, much of the course will be devoted to an examination of those aspects of the theory of finance relevant to creating value from making asset investment decisions. Offered FA, WI, SP. Prerequisite: FIN 4630.

FIN 4420 Capital Expenditures Analysis | 4 Credit Hours»

FIN 4870 Strategic Finance | 4 Credit Hours

Addresses theory, concepts, and techniques associated with asset management and creation of value from a strategic orientation. Links financial theory and practice to strategic and operational objectives of the firm, prepares student to incorporate risk and uncertainty into analytical decision-making process and to analyze divestiture, restructuring, and liquidation decisions. Prerequisites: FIN 4840. Offered FA, SP.

FIN 4870 Strategic Finance | 4 Credit Hours»

FIN 4885 External Finance | 4 Credit Hours

This is an advanced Corporate Finance course, focusing on the decisions by companies related to external sources of financing. There will be a mix of theory and practice, with many outside speakers providing insight into the practice component. External financing will be examined in the context of several different situations and contexts, including the different sources used as the company moves through its life cycle. Throughout the class, we will relate financial decision making to the ethical and regulatory issues embodied in the Dodd-Frank Act. Learning outcomes include: understanding and describing the current economic and financial environment; understanding the role of the economic and financial environment on the debt/ equity decision; understanding the sources of startup capital and angel investing; understanding the bank loan application and evaluation process; understanding the role and timing of venture capital and  private equity in external financing;  understanding the decision and process involved in going private; understanding the merger and acquisition process as a way to finance growth; and  understanding  the external financing alternatives and process in situations of financial distress or bankruptcy. Prerequisite: FIN 4410. Offered WI and Sum.

FIN 4885 External Finance | 4 Credit Hours»

Investment Management

Expands your knowledge of investment management focusing on arbitrage relationships, pricing and valuing securities, measuring portfolio performance and long-term and tactical asset allocation.

Courses (choose 4):

FIN 4120 Quantitative Methods in Stock Selection | 4 Credit Hours

This course introduces quantitative methods and techniques applied to alpha generation in stock selection. It enables students to better understand and conceptualize the entire quantitative investment process in the context of a simulated long/short equity portfolio. The student learns to set investment objectives, test investment hypotheses, define security selection criteria and construct portfolios using quantitative techniques. This is a practical class held in a lab environment using financial industry tools and data with a strong emphasis on student participation. Students have to define and defend a quantitative investment strategy and implement it in a simulated portfolio environment. Offered SP.

FIN 4120 Quantitative Methods in Stock Selection | 4 Credit Hours»

FIN 4320 Security Analysis and Valuation | 4 Credit Hours

This course focuses on (i) analytical models of investment valuation—the discounted cash flow models, relative valuation models, and contingent claim pricing models; (ii) collecting, analyzing, and interpreting financial information; (iv) producing industry-standard financial analyst research reports on stocks; and (iv) developing investment strategies based on research papers and the latest innovations in finance.  Prerequisite: FIN 4200. Offered FA, WI, SP & SU.

FIN 4320 Security Analysis and Valuation | 4 Credit Hours»

FIN 4330 Portfolio Management | 4 Credit Hours

This course covers four major areas with a strong emphasis on financial modeling and quantitative techniques as they apply the tenets of portfolio theory to “real life” portfolio management: Modern Portfolio Theory; Portfolio Construction Methods; Risk Measurement and Analysis; Portfolio Performance Measurement and Return Attribution. Offered WI, SP. Prerequisite: FIN 4200.

FIN 4330 Portfolio Management | 4 Credit Hours»

FIN 4700 Asset Management in New York

This course will provide firsthand exposure to the New York Global Market. Students will learn about the following aspects of asset management – investment management, equity research, sales and trading, private wealth management, hedge funds, and market research. Students will then spend a week in New York visiting a variety of firms to learn from the individuals who are engaged in these activities in New York. Offered FA. Prerequisite: FIN 4200.

FIN 4700 Asset Management in New York»

FIN 4700 Investment Banking in New York

This course will provide firsthand exposure to the New York Global Market. Students will learn about many aspects of investment banking, including strategic advisory, equity and bond underwriting, IPO’s, leveraged finance, high yield debt, mergers and acquisitions, and private equity. Students will then spend a week in New York visiting a variety of firms to learn from the individuals who are engaged in these activities in New York. Offered SU. Prerequisite: FIN 4410.

FIN 4700 Investment Banking in New York»

FIN 4710/4720 Marsico Investment Fund I | 4 Credit Hours Each

A securities analysis and portfolio management practicum in which students manage a University endowment gift donated by Tom and Cydney Marsico. Prerequisite: Permission of instructor. (First part of two-quarter course.) Instructor Permission Required. Offered FA, WI, SP, SUM.

FIN 4710/4720 Marsico Investment Fund I | 4 Credit Hours Each»

FIN 4730 Marsico Investment Fund III | 4 Credit Hours

This course is an elective course that is the third in the series of classes involving the Graduate investment fund class: Marsico Investment Fund I & II. This course allows students to apply the investment, security analysis, and portfolio management tools and techniques that they have learned in their Finance classes. The students manage an actual portfolio, a portion of the University's endowment originally gifted by Tom and Cydney Marsico. The selection of students for this class is competitive. Students must agree to participate for 2 consecutive quarters, and they must be willing to address portfolio issues during the between-quarter periods if necessary. Because the course involves the application of tools and concepts learned in other classes, the best time to take the course is in the last year of a student's program. Prerequisites: FIN 4710 and FIN 4720. Offered FA, WI, SP, SU.

FIN 4730 Marsico Investment Fund III | 4 Credit Hours»

FIN 4890 Fixed Income Analysis | 4 Credit Hours

This course provides an in-depth understanding of the basic concepts related to option-free bonds and bonds with imbedded options. Focus will be on a limited number of topics ranging from bond valuation to price volatility. The course is designed so upon completion the student should have an understanding of bond characteristics such as duration and convexity. An understanding of how these items relate in a portfolio context as well. In addition, an awareness of how binomial trees are used to price a broad spectrum of bonds is provided. The student is also expected to have an understanding of how hedging the risk of bond portfolio is accomplished. Prerequisite: FIN 4820. Offered SP.

FIN 4890 Fixed Income Analysis | 4 Credit Hours»

Risk Management

Courses (choose 4):

FIN 4130 Financial Risk Management Strategies | 4 Credit Hours

This course applies risk management, quantitative approaches and investment theoretical models to derivatives markets. It examines the proven risk management and revenue enhancement strategies in derivatives and equity markets, creates innovated derivatives investment styles, validates quantitative strategies in options markets, and implements investment models. This course is to offer advanced graduates in finance a well-rounded exposure to the theory and practice of risk management and derivatives investment strategies. It focuses on four aspects: (1) essential risk management theories regarding asset pricing, portfolio construction, and financial statistics; (2) the approaches to develop risk management and derivatives investment strategies based on the fundamental analysis, statistical analysis, and behavioral finance; (3) the rigorous test of various options investment strategies; and (4) the implementation of risk management and investment strategies based on The Reiman Fund. Prerequisites: FIN 4860 or instructor permission. Offered SP.

FIN 4130 Financial Risk Management Strategies| 4 Credit Hours»

FIN 4140 Enterprise Risk Management | 4 Credit Hours

This course introduces the fundamentals of enterprise risk management (ERM). The purpose of this course is to give students an overview of the current approaches used to identify, evaluate and monitor the key risks that an organization faces. Students learn that there are numerous approaches that organizations take in addressing ERM. Over the course of the quarter, a number of outside ERM experts address the class on various aspects of ERM. Students then apply newly gained ERM knowledge to a mock risk assessment developed from a real-life corporate scenario from Newmont Mining Corporation. Offered SP.

FIN 4140 Enterprise Risk Management | 4 Credit Hours»

FIN 4200 Financial Institutions and Markets | 4 Credit Hours

This course is a survey of equity and credit markets.  It is designed to provide an understanding of the financial markets, the securities traded in those markets and the risk-return relationship in the equity and credit markets.  Students will study the distinctions between the various securities traded in these financial markets and determine how each security is priced or valued.  The statistical foundations of risk and return will be explored.  A fundamental understanding of the theoretical and empirical foundations of financial asset pricing models will be covered.  Principal content elements will include market efficiency, diversification, the CAPM and Fama-French models, yield to maturity for corporate bonds, the term structure of interest rates, duration and convexity as well as return calculations used in the money market. Offered FA, WI, SP. Prerequisites: FIN 4630 and FIN 4170.

FIN 4200 Financial Institutions and Markets | 4 Credit Hours»

FIN 4330 Portfolio Management | 4 Credit Hours

This course covers four major areas with a strong emphasis on financial modeling and quantitative techniques as they apply the tenets of portfolio theory to “real life” portfolio management: Modern Portfolio Theory; Portfolio Construction Methods; Risk Measurement and Analysis; Portfolio Performance Measurement and Return Attribution. Offered WI, SP. Prerequisite: FIN 4200.

FIN 4330 Portfolio Management | 4 Credit Hours»

FIN 4700 Derivatives and Risk Management in Chicago

This course will offer an overview of derivative securities and introduce students to the practical application of using derivatives in portfolio investment strategies. This class will require students to form portfolios and use derivative instruments to manage risk. We’ll discuss issues pertaining to implementation and performance evaluation of investment strategies using derivatives. Offered FA.

FIN 4700 Derivatives and Risk Management in Chicago»

Applied International Economics

Courses:

FIN 4740 Managerial Microeconomics | 2 Credit Hours

This course emphasizes the standard tools of microeconomic analysis for the business manager. The focus is on managerial decision-making, and to give an appreciation of the important perspectives that form the business environment in the contemporary world. The goal is to provide students with the tools from microeconomics industrial organization that they need to make sound managerial choices. The course will emphasize analytical problem solving to highlight the decisions managers must make under constrained conditions. There will be a series of short quizzes to emphasize these skills based on class lecturers and homework. We will also use case studies to develop practical insights into managing the firm’s resources to achieve competitive advantage. This course is divided into two principal modules based on market structure: perfect competition and imperfect competition. Both modules will cover optimal behavior and strategies.Offered FA, WI, SP.

FIN 4740 Managerial Microeconomics | 2 Credit Hours»

FIN 4750 Managerial Macroeconomics | 2 Credit Hours

This course covers the theory and practice of modern macroeconomics. It teaches students how private market forces and government policy decisions drive fluctuations in the global economy and affect the business environment. It explores issues related to inflation, interest rates, foreign exchange rate, business cycles, and monetary and fiscal policies. The course uses case studies to analyze real-life macroeconomic issues, and students are encouraged to investigate the potential and limitations of macroeconomic theory with real-world problems. The course is divided into two principle modules: the economy in the long run, and the economy in the short run. Both modules cover impacts of government policies on the business environment in a closed economy and an open economy. Offered FA, WI, SP.

FIN 4750 Managerial Macroeconomics | 2 Credit Hours»

FIN 4701-1 Economics and Finance in Emerging Markets | 4 Credit Hours

Emerging Economies in East Asia, Eastern Europe and Latin America have grown considerably over the past two decades. Their economic models have become more competitive and open as barriers to trade have fallen. Foreign direct investment and trade has skyrocketed. Financial markets have been largely liberalized in most emerging economies, and their stock and bond markets which were nascent in some cases rival Western Economies. At the same time, many Emerging Markets retain financial and economic characteristics different from American markets, and understanding these differences is critical in doing business in these economies. This course focuses on economic and financial growth, linkages and volatility in Emerging Markets. Instructor permission required. Offered: Quarters TBD.

FIN 4701-1 Economics and Finance in Emerging Markets | 4 Credit Hours»

FIN 4701-2 Monetary Economics and International Banking | 4 Credit Hours

This course explores the impact of financial markets on interest rates and financial markets. It presents economic models and applies them to current problems that central and commercial bankers face. It discusses the causes and consequences of monetary policy, deregulation and systematic risk across the Globe. Current issues such as shadow banking, international banking and stress tests will be analyzed and discussed. Instructor permission required. Offered: Quarters TBD.

FIN 4701-2 Monetary Economics and International Banking | 4 Credit Hours»

FIN 4701-3 International Monetary Economics and Financia Crises | 4 Credit Hours

This course focuses on interrelationships between exchange rates, balance of payments, Global economy and financial crises. The goal is to explain the determination of current account surpluses and deficits, and movements in the exchange rate in the short and long-run. The course will explicitly examine different exchange rate regimes as well the in-depth analysis of the biggest event in the Global Economy in 75 years, the Global Financial Crisis. The class begins with an examination of the causes, consequences and aftermath of the Global Financial Crisis. It evaluates why it happened, the lessons, and the warning signs. It then considers exchange rate determination, exchange rate regime choice, exchange rate determination in the medium and long-run, exchange rate misalignment and exchange rate crises including the Asian Financial Crisis and Latin American crises. We then focus on international financial imbalances and currency wars. After this, we consider why the European Union and Euro are trouble. Will the Euro survive intact, is it an Optimal Currency Area and what do the leaders need to do so that the Euro crisis does not spread elsewhere. Lastly, we examine financial conditions/soundness indicators, forecasting and the evolving international financial system, particularly the growing importance of Emerging Asia/China. The course stresses how to evaluate a country’s international financial condition, identify the warning signs, and whether it’s likely to experience a financial crisis in the near future. There have been 200 financial crises over the past 3 decades, and according to MIT’s Andrew Lo “Financial crises may be an unavoidable aspect of modern capitalism.” Banking, currency and debt crises have hit, and will strike again, so can we understand their impact, detect their transmission across borders, assess their potential damage with stress tests, predict them in advance and limit their damage? Instructor permission required. Offered: Quarters TBD.

FIN 4701-3 International Monetary Economics and Financia Crises | 4 Credit Hours»

Additional finance courses available to customize a certificate.

These may be combined with the courses above.

FIN 4170 Quantitative Methods in Finance | 4 Credit Hours

This course introduces students to the mathematical and statistical methods needed in order to succeed in the quantitative discipline of modern finance. Topics include differential calculus, optimization techniques, linear algebra, probability, and statistical methods. Data analysis software is used when appropriate to facilitate the analysis. Emphasis is on applications, analytic reasoning, and proper interpretation of results. Offered FA, WI.

FIN 4170 Quantitative Methods in Finance | 4 Credit Hours»

FIN 4500 Financial Modeling | 4 Credit Hours

The way we perform financial analysis has been transformed by the availability of PC-based spreadsheet programs such as Microsoft’s Excel and add-in programs that complement Excel such as Crystal Ball. These programs have increased the speed and reliability with which we can do conventional financial analysis and have put time consuming and tedious work such as simulation and optimization within the easy reach of all students of finance. Financial managers today need a good knowledge of financial model building and financial theory. Indeed, financial modeling is rapidly becoming an important part of standard financial analysis. Offered FA, WI, SP and Sum. Prerequisite FIN 4200.

FIN 4500 Financial Modeling | 4 Credit Hours»

FIN 4610 Multinational Financial Management | 4 Credit Hours

Multinational Finance explores financial management in the international arena. Topics include derivative securities, currency risk, international capital budgeting, and international portfolio management. Upon completion of this course, students should be able to accomplish the following objectives: explain the determinants of foreign exchange rates and how exchange rate risk can be hedged; understand derivatives on currencies; explain and identify the financial difficulties and opportunities faced by corporations when operating internationally; apply advanced techniques for making international corporate investment decisions; identify the determinants of the expected returns on international investments; discuss current issues in international finance. Prerequisite: FIN 4630. Offered FA, WI, SP and Sum.

FIN 4610 Multinational Financial Management | 4 Credit Hours»

FIN 4830 Econometrics for Finance | 4 Credit Hours

This course focuses on econometric and statistical modeling with an emphasis on finance applications. The objective of this course is to learn essential econometric tools and conduct econometric and other statistical modeling analyses using appropriate computer software. This course will prepare students with quantitative tools necessary for more specialized, advanced courses in finance. (This course will be required of all MS Finance students.) Prerequisite: FIN 4170. Offered FA, SP.

FIN 4830 Econometrics for Finance | 4 Credit Hours»

FIN 4860 Derivatives | 4 Credit Hours

This course provides a theoretical foundation for the pricing of contingent claims and for designing risk-management strategies. It discusses more advanced material in financial derivatives and is intended for students who have a quantitative background and are interested in enhancing their knowledge of the way in which derivatives can be analyzed. This course covers option pricing models, hedging techniques, and trading strategies. It also includes portfolio insurance, value-at-risk measure, multistep binomial trees to value American options, interest rate options, and other exotic options. Prerequisite: FIN 4200. Offered WI, SP.

FIN 4860 Derivatives | 4 Credit Hours»

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Program Developer, Graduate Business Certificates

Lisa Wuthrich
303.871.2008