Finance (FINC)
Opus College of Business
Department of Finance
Samarakoon (chair), Babula, Barabanov, Baxamusa, Combs, Daugherty, Gerend, Jaiswal-Dale, Reagan, Samarakoon, Spry, Vang, Zhang
Finance plays a pivotal role in business decisions across all functional areas of business. A strong foundation in finance is highly valued by employers and provides excellent career options and flexibility upon graduation. The UST finance courses and the degree program prepare students for careers in all areas of finance. Broadly, students gain in-depth knowledge and develop important analytical skills in the areas of corporate finance, investments and portfolio management, financial institutions and banking, and global finance. The finance degree program requires students to acquire training in the interrelated areas of accounting, economics and information technology as well.
Finance graduates find career opportunities in the interrelated areas of corporate finance, accounting, investments, security analysis, asset management, financial planning, commercial and investment banking, private equity and venture capital, real estate, insurance, and risk management. Typical job titles of finance graduates include financial analyst, security analyst, equity analyst, research analyst, budget analyst, financial advisor, financial planner, financial consultant, loan officer, account specialist, treasury assistant, portfolio assistant, and financial manager, among others.
Financial Management
Business Core Courses:
-
BUSN 100: Business for the Common Good (2 credits)
- ENTR 100: Introduction to Entrepreneurship & Innovation (2 credits)
- ACCT 100: Principles of Accounting I (4 credits)
- BUSN 200: Business Learning Through Service (0 credit)
- ACCT 200: Principles of Accounting II (2 credits)
- OPMT 200: Operations & Supply Chain Management (2 credits)
- FINC 310: Core Financial Management (2 credits)
- MKTG 200: Introduction to Marketing (2 credits)
- MGMT 200: Working Skillfully in Organizations (2 credits)
- BLAW 300: Law for Business Leaders I (2 credits)
- BETH 300: Ethical Principles in Business (2 credits)
Note: The required core business courses (BUSN 100, ENTR 100, ACCT 100, ACCT 200, BUSN 200, FINC 310, OPMT 200, MKTG 200, MGMT 200, BETH 300, BLAW 300) must be completed by the end of the sophomore year. Transfer students who have not had an equivalent course must complete these courses by the end of their first semester, junior year.
Elective Courses in Business Core:
- Eight credits from undergraduate courses with designations ACCT / BETH / BLAW / ENTR / FINC / MGMT /MKTG / OPMT / REAL. These credits may be taken in courses within the department of the student’s business concentration. Transfer credits with these designations must be at the 300 level or above.
Concentration Courses:
- FINC 311 Advanced Financial Management (2 credits)
- ACCT 311 Intermediate Accounting I (4 credits)
- FINC 324 Corporate Finance (4 credits)
- FINC 325 Investments (4 credits)
Plus twelve credits from the following:
-
FINC 350 Finance on Wall Street (4 credits)
- FINC 351 Emerging Financial Markets – China (4 credits)
- FINC 410 Derivatives (4 credits)
- FINC 430 Financial Intermediaries (4 credits)
- FINC 440 Security Analysis and Portfolio Management (4 credits)
- FINC 442 Fixed Income Securities (4 credits)
- FINC 450 International Financial Management (4 credits)
- FINC 480 Strategic Finance (4 credits)
- REAL 380 Real Estate Finance and Investment (formerly REAL 460) (4 credits)
- FINC 490 Topics (4 credits)
- FINC 445 Investment Management I (4 credits)
- FINC 446 Investment Management II (4 credits)
Allied requirements:
- CISC 200 Introduction to Computer Technology and Business Applications (4 credits)
- ECON 251 Principles of Macroeconomics (4 credits)
- ECON 252 Principles of Microeconomics (4 credits)
- STAT 220 Statistics I (4 credits)
Plus four credits from the following:
- MATH 109 Calculus with Review II (4 credits)
- MATH 111 Calculus for Business and Social Science (4 credits)
- MATH 113 Calculus I (4 credits)
Note: The math requirement must be completed by the end of the sophomore year.
Plus four credits from the following:
- ECON 311 Forecasting (4 credits)
- ECON 315 Introduction to Econometrics (4 credits)
Finance Undergraduate Courses
| Course Number | Title | Credits | |
|---|---|---|---|
| FINC 201 | Personal Financial Planning | 2 | |
| Description of course Personal Financial Planning : | This course teaches essential money management skills. The five major topics covered include: 1) Managing student loans/debt, 2) Understanding job offers and career compensation (benefits), 3) Planning and Budgeting, 4) Building an investment portfolio (401(k)’s and IRA’s) and 5) Finance and the Common Good. Also, understanding how your core values play a role in how you manage your finances. The class will utilize planning and investing tools to help simulate real life financial challenges and issues. 2 credits | ||
| FINC 220 | Risk Management & Insurance | 4 | |
| Description of course Risk Management & Insurance : | This course introduces students to the subjects of insurance--theory and practice--and corporate risk management. In addressing these subjects, students will receive exposure to risk theory, insurance pricing, contract analysis, insurance company operations, reinsurance, regulation and the concepts and principles of business risk management. Offered fall semester. Prerequisite: Sophomore standing | ||
| FINC 243 | Individual Study | 2 OR 4 | |
| Description of course Individual Study : | No description is available. | ||
| FINC 269 | Research | 2 OR 4 | |
| Description of course Research : | No description is available. | ||
| FINC 295 | Topics | 2 | |
| Description of course Topics : | The subject matter of these courses will vary from year to year, but will not duplicate existing courses. Descriptions of these courses are available in the Searchable Class Schedule on Murphy Online, View Searchable Class Schedule | ||
| FINC 296 | Topics | 2 | |
| Description of course Topics : | The subject matter of these courses will vary from year to year, but will not duplicate existing courses. Descriptions of these courses are available in the Searchable Class Schedule on Murphy Online, View Searchable Class Schedule | ||
| FINC 300 | Finance for Non-Bus Majors | 4 | |
| Description of course Finance for Non-Bus Majors : | Introduction to the concepts of finance in analyzing decisions. Topics include how to determine the economic value of a company’s investment projects, the value of financial securities, the cost of funds used to purchase assets, and the overall management of the firm’s assets and liabilities. This course may not be used to meet any requirement for a business major. Not open to business majors. | ||
| FINC 301 | Life Insurance | 2 | |
| Description of course Life Insurance : | Life Insurance is a fundamental topic in the field of Risk Management & Insurance. Perhaps slightly misleading to the newcomer, the term “Life Insurance” actually spans a range of insurance policies that pertain to, yes, mortality, but also to morbidity and longevity. The purpose of this course is to explore the range of life insurance, including disability coverages, healthcare coverage, annuities and other savings and longevity coverages. In the course of exploring these various policies, students will have exposure to the inner workings of life insurance companies, life insurance pricing, life insurance law and regulation, and the various uses and purposes of these coverages. Additionally, owing to its critical role in life contingencies in the US, social insurance is introduced and reviewed. 2 credits. | ||
| FINC 302 | Property & Casualty Insurance | 2 | |
| Description of course Property & Casualty Insurance : | Property and Casualty Insurance (P&C, sometimes referred to as Property & Liability) is one of the two dominant segments in the field of insurance study and practice. It includes an ever-widening range of insurance coverages—from a basic homeowners insurance policy to the most exotic policies insuring space satellites and nanotechnology risks. The purpose of this course is to focus on the structure and function of the P&C industry and its various component ‘lines of insurance.’ Students will be challenged to analyze various contracts, to understanding pricing, underwriting, and claims management practices, and to consider current roles and challenges in both the economy and wider society. The latest innovations in the design and delivery of P&C insurance also receives attention. | ||
| FINC 303 | Employee Benefits | 2 | |
| Description of course Employee Benefits : | This course introduces and details the subject of Employee Benefits. In the United States a wide-range of insurance and insurance-related coverages are provided through employers. As such, anyone studying insurance is well-served to understand the many key differences that arise in the provision of insurance to groups of employees. Indeed, a central feature of this course is the investigation of the Group Insurance concept, where underwriting focuses not on the individual but on the group as a whole. Government regulation of employee benefit programs, while having some common features with insurance regulation generally, has a number of additional features—especially at the national government level. Additionally, the course will focus on the specifics of group life and disability insurance, group health insurance, group long term care, savings and investment programs, and—to complete the picture—some treatment of a wide-range of newer programs—wellness, group legal, childcare, and more. This course will serve as a particularly meaningful introduction to individuals that might aspire to work in the Human Resources area of an organization, in addition to students interested in working for insurance companies that specialize in group insurance. | ||
| FINC 304 | Principles of Investments | 2 | |
| Description of course Principles of Investments : | This course provides students with a basic understanding of the basic principles of investments. Topics include asset classes and financial instruments, securities markets, mutual funds, risk and returns and portfolio theory, bond prices and yields, macroeconomic and industry analysis, and equity valuation. We will examine current developments in financial markets. 2 credits Prerequisites: FINC 300 or FINC 310 Note: Students who receive credit for FINC 304 may not receive credit for FINC 325 | ||
| FINC 310 | Core Financial Management | 2 | |
| Description of course Core Financial Management : | This course provides an introduction to the major concepts of financial management. The main topics covered include an introduction to financial management, time value of money, capital budgeting, cash flows and multinational financial management. Students learn to use calculators and spreadsheets in solving finance problems. Relevant ethical issues of financial management are discussed. Prerequisites: ACCT 100, STAT 220 or MATH 313 or STAT 314, ECON 251 or ECON 252, Sophomore standing. | ||
| FINC 311 | Advanced Financial Management | 2 | |
| Description of course Advanced Financial Management : | This course builds upon the major concepts of financial management delivered in the FINC 310 Core class. The topics covered include an overview of financial markets and institutions, valuation of bonds and stocks, risk & return, cost of capital and cash flow estimation. Students learn to use calculators and spreadsheets in solving finance problems. Relevant ethical issues of financial management are discussed. Prerequisites: FINC 310 | ||
| FINC 314 | Intro to Financial Technology | 4 | |
| Description of course Intro to Financial Technology : | Financial technology (FinTech) introduces emerging technologies that are revolutionizing the financial services industry. The course covers digital banking, mobile payments, algorithmic and electronic trading, robo-advising and wealth management, crowdfunding and peer-to-peer lending, blockchain and cryptocurrencies, insurance technology, and retail investment. The course will also discuss FinTech innovations from various perspectives including economics, strategy, and ethics as well as market structure, participants, and regulations. Prerequisites: None | ||
| FINC 316 | AI & ML in Finance | 2 | |
| Description of course AI & ML in Finance : | This course provides knowledge of the mechanisms of artificial intelligence (AI) and machine learning (ML) relevant to the financial services industry. The topics covered include AI usage in algorithmic trading, financial advising (chatbots), credit decisions, asset management, and risk management. The course will also discuss AI-related cases relating to the financial industry from various perspectives such as economics, strategy, and ethics. We will also use Python to implement various machine-learning techniques such as decision trees, K-means, and neural networks. Prerequisites: STAT 220 | ||
| FINC 321 | Financial Management | 4 | |
| Description of course Financial Management : | An examination of the elements of the finance function of the organization as well as the financial analysis of decisions. Topics include working capital management, acquisition of capital, capital budgeting, cost of capital, theories of valuation, and present value. Prerequisites: ACCT 100 or ACCT 210; STAT 220 or MATH 313 or STAT 314; ECON 251 and ECON 252; and Sophomore standing Note: Students who receive credit for FINC 321 may not receive credit for FINC 310 or FINC 311. | ||
| FINC 324 | Corporate Finance | 4 | |
| Description of course Corporate Finance : | Scope and objectives of financial management in the corporate setting at an advanced level. The course will explore working capital management, risk, valuation, capital structure theory, capital budgeting and other current topics in finance. It will utilize computer-based financial modeling and forecasting. Prerequisites: FINC 311 | ||
| FINC 325 | Investments | 4 | |
| Description of course Investments : | The focus of this course is to provide an overview of investment concepts and an exposure to a broad range of investment alternatives. The principle concern of the course is to develop skills necessary to make prudent investment decisions. Prerequisites: FINC 311 | ||
| FINC 350 | Finance on Wall Street | 4 | |
| Description of course Finance on Wall Street : | This course will provide students with an overview of many of the important areas of the financial services industry in addition to building students’ financial skills through lecture, case studies and real time situational analysis. Students will have extensive exposure to practicing professionals who will engage in discussion with students in all the below listed areas. Topic areas covered will include leadership, risk management, capital markets, investment banking, mergers and acquisitions, portfolio management and construction, private equity, and hedge funds. Prerequisites: FINC 324 or FINC 325. | ||
| FINC 351 | Emerging Financial Markets | 4 | |
| Description of course Emerging Financial Markets : | The course gives students the opportunity to gain knowledge, skills, and experiences concerning emerging economies and financial markets. The main contents include understanding and analyzing economic, financial, and political systems and policies of emerging market economies, financial globalization and international diversification, market structures and investment instruments, monetary policies, exchange rate regimes, risks and returns, analysis and valuation of investments, and current issues and developments in emerging economies and markets. Students will also complete a comprehensive country analysis project. This course may be offered occasionally as a short-term study abroad course. Prerequisites: FINC 310 | ||
| FINC 389 | Research | 2 OR 4 | |
| Description of course Research : | No description is available. | ||
| FINC 393 | Individual Study | 2 OR 4 | |
| Description of course Individual Study : | No description is available. | ||
| FINC 401 | Financial Advising | 2 | |
| Description of course Financial Advising : | This course serves as, partly, a Capstone course for one of the tracks in the Risk Management & Insurance Certificate. This course specifically presents an overarching context for students that are interested in careers in investment management, life insurance, and personal financial planning. The demand for professionals who can provide comprehensive advice on wealth and risk management to individuals has never been higher. Individuals, who are able to master the complexities of insurance, investments, tax implications, and lifetime wealth and risk management will find many opportunities open to them. In this course, surveying the financial planning field is the main intention. Coverage exists for better understanding insurance in a personal planning context is presented, as are pension and investment basics. Additional attention is given to career preparation in financial planning, which can help students understand both further professional development opportunities (Certified Financial Planner, CFP, for example) and licensing requirements. 2 credits. Prerequisites: FINC 310 | ||
| FINC 402 | Adv Topics in Risk Mgmt & Insu | 2 | |
| Description of course Adv Topics in Risk Mgmt & Insu : | This course serves as, partly, a Capstone course for one of the tracks in the Risk Management & Insurance Certificate, but also presents some flexibility for focusing on timely and relevant topics in the field. As such, there is an expectation that some topics will change over time to reflect current issues of importance. Nevertheless, the general thematic structure of this course is to examine risk management and insurance ‘in action.’ On the risk management side of the course this will mean examining risk management program operations and will entail some case study activity. Such topics could include problems in managing work-related injury; managing risks in global firms; and alternative risk financing. On the insurance side of the course, the intention is to consider insurance industry challenges and problems. Such topics could include the effects of climate change on the insurance contract; insuring driverless vehicles; and an examination of the reinsurance sector. 2 credits. Prerequisites: ACSC 220, FINC 301, FINC 302, and FINC 303 | ||
| FINC 410 | Derivatives | 4 | |
| Description of course Derivatives : | This is a mathematically-oriented course which gives an introduction to the theory of derivative contracts such as futures and options. Issues of valuation, arbitrage pricing, trading strategies, and hedging strategies will be covered. The course will include elements of stochastic calculus and other mathematical techniques needed for understanding the derivative pricing. Among the applications to be explored are uncertainty in commodity prices, stock prices, exchange rates and interest rates. Prerequisites: FINC 325; ECON 251 and ECON 252 | ||
| FINC 430 | Financial Intermediaries | 4 | |
| Description of course Financial Intermediaries : | Concepts, practices and organization for financial management of various financial intermediaries. Asset-liabilities management, duration, swaps, hedges and other concepts will be covered. Banks will be the primary area for study, but the course also will look at other institutions including insurance, funds and thrifts. The course will be based on text, lectures, guest speakers, computer modeling, a bank simulation and examination. Prerequisites: FINC 324 or FINC 325; ECON 251 and ECON 252; And 80 completed credits. | ||
| FINC 440 | Sec Analy & Portfolio Mgmt | 4 | |
| Description of course Sec Analy & Portfolio Mgmt : | This course will cover knowledge and develop skills necessary to carry out prudent and in-depth analysis of investments and create investment portfolio. The major topics covered include portfolio theory, macroeconomic analysis, industry analysis, financial statement analysis, company analysis, valuation models, creating investment policy statement, asset allocation, professional money management and portfolio strategies, and portfolio performance evaluation. The course also includes discussions of most recent developments in the investments industry. Students will apply course concepts to the analysis of actual companies and present their analysis and recommendations to investment professionals. Prerequisites: FINC 325, ECON 251 and ECON 252 and 80 completed credits. Note: Students who receive credit for FINC 440 may not receive credit for FINC 445 or FINC 446 | ||
| FINC 442 | Fixed Income Securities | 4 | |
| Description of course Fixed Income Securities : | This mathematically-oriented course provides extensive coverage of a wide range of fixed income securities, investment strategies and the interest rate environment. General determinants of value on standard instruments and analysis of the newer instruments including zeroes, mortgages derivatives, interest rate swaps, and structured notes will be covered. Necessary mathematical concepts covered in this course will include stochastic calculus and differential calculus. Prerequisites: FINC 325, ECON 251 and ECON 252 | ||
| FINC 445 | Investment Management I | 4 | |
| Description of course Investment Management I : | The focus of this course is gaining practical, hands-on investment management. This course is designed to cover the fundamental techniques of investments and portfolio management with significant attention to developing financial modeling skills. We will address different valuation techniques including comparable valuations and transaction analysis. In addition, we will cover macro-economic analysis, investment policy statements, industry analysis and specific company analysis to develop the skills needed to manage the portfolio. 4 credits. FINC 325; ACCT 200 or 215; 80 completed credits; and Permission of the Instructor. Note: Students who receive credit for FINC 445 may not receive credit for FINC 440. | ||
| FINC 446 | Investment Management II | 4 | |
| Description of course Investment Management II : | The focus of this course is gaining practical, hands-on investment management by managing a portion of the UST endowment. This course is a continuation of FINC 445, Investment Management I. This semester we will focus on portfolio diversification strategies, performance attribution, alternative investments, quantitative analysis, micro and macro-economic tools, derivatives, and fixed income securities. Students will continue to apply the theories in stock analysis, selection and investment recommendations, and make stock presentations. 4 credits. Prerequisites: Prerequisites: FINC 325; FINC 445; ACCT 200 or 215; and permission of instructor. Note: Students who receive credit for FINC 446 may not receive credit for FINC 440. | ||
| FINC 450 | Int'l Financial Management | 4 | |
| Description of course Int'l Financial Management : | The management of foreign and multinational financial operations. On the basis of international finance theory, students will learn foreign exchange risk management, foreign investment analysis, the financing of foreign operations, comparative accounting, international banking and international tax management. Prerequisites: FINC 324; ECON 251 and ECON 252; and 80 completed credits. | ||
| FINC 475 | Financial Modeling & Analytics | 4 | |
| Description of course Financial Modeling & Analytics : | This course will use advanced data and computer-based techniques to perform financial analysis. The first part of the course develops advanced modeling skills for company valuation, building on skills learned in FINC 324. In the second part of the course, students will learn and apply statistical software to analyze a stock’s risk and returns and perform some portfolio analysis. Prerequisites: FINC 324 and FINC 325; ECON 251 and ECON 252 | ||
| FINC 476 | Experiential Learning | 1 TO 4 | |
| Description of course Experiential Learning : | No description is available. | ||
| FINC 480 | Strategic Finance | 4 | |
| Description of course Strategic Finance : | Building on the finance theory learned in prior courses, this course focuses on financial strategies for a broad range of finance issues faced by corporations including capital budgeting, capital raising, optimal capital structure, dividend policy, and corporate restructuring and mergers and acquisitions. This is an applied, case-based course the students will be engaged in extensive case analysis, discussion, and presentations to develop and refine analytical skills. Prerequisites: FINC 324; ECON 251 and ECON 252; and 80 completed credits. | ||
| FINC 490 | Topics | 4 | |
| Description of course Topics : | The subject matter of these courses will vary from year to year, but will not duplicate existing courses. Descriptions of these courses are available in the Searchable Class Schedule on Murphy Online, View Searchable Class Schedule | ||
| FINC 495 | Individual Study | 2 OR 4 | |
| Description of course Individual Study : | No description is available. | ||