Finance

The Finance major is comprised of courses in two broad areas:  Corporate Finance and Investments. 

In Corporate Finance, students learn to analyze business opportunities to identify those that create value.  Financial analysis boils down to sophisticated cost-benefit analysis for decision making in all aspects of business, and students majoring in Finance successfully pursue careers with major corporate and other organizations.

In Investments, students learn to structure portfolios of stocks, bonds and other financial assets that meet the objectives of institutional and individual investors.  The curriculum helps prepare students who wish to sit for Level I of the CFA exam series, and many graduates in Finance successfully pursue careers in asset management and wealth advising. 

The Investment Strategy Institute (ISI) computer lab is dedicated to investment analysis with more than 20 Bloomberg terminals, which bring together real-time data on every financial market, breaking news, in-depth research, powerful analytics and communications tools in one fully integrated solution.  They are very powerful tools that are used extensively in the profession and are a significant part of the curriculum. 

Finance students can participate in several Student Managed Investment Funds under the guidance of faculty and industry professionals.  The total amount of funds available for students to manage is in excess of $1,000,000.  The SMIF experience also provides opportunities for students to interact with investment professionals, many of whom work downtown just minutes from campus and who are Duquesne alumni.

Good internship opportunities for Finance majors are available with leading companies such as Federated Investors, PNC Corp., BNY Mellon, UPMC Health System and JPMorgan Chase.  Many of these internships are within a few minutes' walk from campus. 

 

Program Information

Students have the opportunity to analyze business opportunities to identify those that create value and to learn to structure portfolios of stocks, bonds, and other financial assets.

Program Type

Major, Minor

Degree

Bachelor's

School

Palumbo-Donahue School of Business

Academic Department

Economics and Finance

Duration

4-year

Required Credit Hours

72

From Our Students

Carly Werner

"Duquesne's Finance program provides students with a holistic approach to many areas of study, anything from Investment to Financial management. The professors and staff are always willing to help students with course materials and professional development opportunities, such as career fairs and internship applications."

Carly Werner Finance Major

Finance Minor

Required Courses
Does not include Business Core Classes
  • FINC 334 - Investments
  • FINC 333 - Financial Management
  • Plus any two (2) required or elective courses in Finance

Students are encouraged to meet with their Student Success Coach for specific information.

Course Descriptions

Curriculum Guide
Business Finance is a core course required for all undergraduate business majors. Students are introduced to the concept of shareholder wealth maximization through the following topics: financial statement analysis, time value of money, capital budgeting, cost of capital, risk and return, and impact of financial leverage on the value of the firm. Prerequisites: ACCT 214 and STAT 285 Lecture, Online. 
offered irregularly 

Fixed income presents the basic features of debt securities, embedded option provisions, relationships among bond prices, spot rates, forward rates and yields, and it introduces the fundamental notion of arbitrage pricing in the context of securities with fixed cash flows. It describes various ways to measure the risks of investing in fixed income securities and factors determining yield spreads. Additional coverage includes demand and supply analysis of bond yields, theories of the term structure of interest rates, asset securitization, and active and passive bond investment strategies. Prerequisite: FINC 313 Lecture, Online. 
offered fall and spring only

Financial Management provides the second part (with FINC 334) of the necessary conceptual foundation for upper-level courses in Finance and is required for the major in Finance. Topics include: financial statement analysis and financial forecasting, risk and return, the cost of capital, capital budgeting, real options in capital budgeting, the corporate valuation model and measures of financial performance. Prerequisite: FINC 313 Lecture. 
offered fall and spring only 

Investments is a required course for the Finance major. A particular emphasis is placed on the theory behind constructing optimal investment portfolios and the implications this theory has for asset pricing. A second theme of the course is to examine why market prices are thought to be fairly priced or "efficient" versus the opposing view (behavioral finance) that questions investor rationality and, therefore, efficient market prices. Students use the technology in the Investment Strategy Institute. Prerequisite: FINC 313 Lecture, Online. 
offered irregularly 

This course is an intensive study of the analytic techniques applicable to the selection of the various securities of private as well as public entities. Consideration is given to the markets in which these securities are traded and the type of information necessary to the decision-making process of the investor as the attempt is made to measure the value of a particular security. Several models are examined in seeking appropriateness in establishing the relative worth of a security. Prerequisite: FINC 313 Lecture. 
offered irregularly 

This course is designed to develop an understanding of futures and options and other derivative financial instruments. The main emphasis is on the reduction of asset and liability risk for business and financial institutions through hedging operations in debt and equity instruments, commodities and currencies. Prerequisite: FINC 313 Lecture, Online. 
offered irregularly 

This course will focus on various analytical tools and techniques used to assess a potential borrower for extending both short and long term credit. Comprehensive financial statement analysis methods are stressed in the course. Students augment their financial statement analysis with industry considerations, qualitative parameters and various loan structures for credit details. Portfolio considerations will also be evaluated. Prerequisite: FINC 313. Lecture.
offered fall and spring only 

This course is a comprehensive examination of the evolving nature of the domestic and international money and capital markets, as well as the underlying forces which shape them. Attention is also paid to the clearing, settlements, and payment systems, which play an important part in the markets' performance. The course is required for the Finance major. Prerequisite: FINC 313. Lecture. 
offered irregularly 

The course provides the conceptual tools necessary to understanding and making international financial decisions. Topics covered include: foreign exchange markets and exchange rate determination, parity conditions, types of foreign exchange risk and measurement and hedging techniques. Prerequisite: FINC 313. Lecture.
offered fall and spring only 

Students draw on a wide range of concepts and tools from previous finance and accounting courses to address a series of realistic case-based problems in financial analysis. Emphasis is placed on identifying problems and developing persuasively argued and professionally presented solutions. The course is required for the Finance major. Prerequisites: FINC 333, FINC 334, ACCT 311. Lecture, Online. 
offered spring only

Managing Investments I is open to students who wish to participate in the Student Managed Investment Fund (SMIF) program.  FINC 200 provides a cornerstone experience in which students, under the guidance of an executive-in-residence and faculty, make investment decisions for the Duquesne Balanced Fund (DBF).  DBF is a balanced portfolio of ETFs encompassing broad asset categories of cash, bonds and stocks.  Students learn about investing while using Bloomberg terminals in the Investment Strategy Institute.  At the end of the course, students present their management decisions and investment results to members of the Investment Strategy Institute Advisory Council.  The course does not count toward the Finance major.  By permission only. Lecture, Online. 
This courses is an introduction to concepts involving the valuation and financing of real estate investments.  The course is organized to sequentially walk students through the real estate investment process.  The curriculum includes the characteristics of real estate returns compared to other asset classes, real estate investment opportunities, theories of valuation, pros and cons of financing, and real estate law concepts.

Prerequisite: FINC 313
offered spring only 

Managing Investments II is the second course for students participating in the Student Managed Investment Fund (SMIF) program.  FINC 400 provides a capstone experience in which students, under the guidance of an executive-in-residence and faculty, make investment decisions for the Duquesne Values Fund (DVF).  DVF is a portfolio of large-cap common stocks selected by a process of fundamental equity analysis and valuation applied to stocks meeting standards for environmental, social and governance (ESG) performance.  As of March 2023, the value of the DVF was in excess of $1,000,000.  While managing DVF, students learn about the analysis and valuation of common stock and the management of common stock portfolios.  Technology in the Investment Strategy Institute, primarily Bloomberg, is used extensively.  At the end of the course, students present their management decisions and investment results to members of the Investment Strategy Institute Advisory Council.  Prerequisites:  FINC 200 and FINC 313.  By permission only. Lecture, Online. 

Student Managed Investment Funds

The Student Managed Investment Fund (SMIF) Program at Duquesne provides you with a compelling experience in money management and contributes to your preparation for successful careers in finance and investment management. You will learn to make evidence-based decisions investing in financial markets, which will enable you to leverage the experience in interviews for internship and career opportunities.

The SMIF Program comprises three fund initiatives: the Duquesne Balanced Fund, the Duquesne Micro-Cap Fund and the Duquesne Values Fund.

  • Duquesne Balanced Fund (DBF) introduces financial literacy. While managing a diversified, balanced portfolio of sector Exchange-Traded Funds (ETFs), students learn the return and risk characteristics of a range of asset classes. DBF appeals to Finance, Accounting, and Sales and Marketing students interested in pursuing careers as financial advisors and wealth managers.

  • Duquesne Micro-Cap Fund (DMF) employs a factor-based quantitative strategy. In managing this common stock portfolio, students learn about the major factors driving individual stock returns. DMF appeals to Finance students with an interest in portfolio management or quantitative asset management.

  • Duquesne Values Fund (DVF) "Investing for the Greater Good," one of the largest undergraduate funds of its type in the nation, pursues a stock selection strategy employing fundamental equity analysis and valuation. Eligible investments are deemed consistent with responsible investing criteria and Spiritan values. DVF appeals to Finance and Accounting students with an interest in investment management and/or corporate finance.
Duquesne's Investment Strategy Institute

Contact Us!

For more information contact Jennifer Milcarek at (412) 396-5642.

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Certification/Licensure

Certification is highly recommended in finance. For example, personal financial advisors are encouraged and sometimes required to seek their Certified Financial Planner (CFP) certification. The requirements include academic credits, passing a comprehensive set of exams, and following a strict code of ethics. These are the most popular and widely recognized certifications and licensures.

Achieve one of the highest distinctions in the investment management profession: Become a Chartered Financial Analyst® (CFA®). As a CFA charterholder, you will have the knowledge and the skills to thrive in the competitive investing industry.
CERTIFIED FINANCIAL PLANNER™ certification is the standard of excellence in financial planning. CFP® professionals meet rigorous education, training and ethical standards, and are committed to serving their clients' best interests today to prepare them for a more secure tomorrow.