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.
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
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
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
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
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
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
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
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
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
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 and ACCT 312 (or ACCT 315)
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.
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
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 2022, 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.
Student Managed Investment Funds
TheStudent Managed Investment Fund (SMIF) Programat 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. The $1 million student managed investment fund employs socially responsible
investment strategies. DVF appeals to Finance and Accounting students with an interest
in investment management and/or corporate finance.
Contact Us!
For more information contact Jennifer Milcarek at (412) 396-5642.
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.
This course integrates themes from business strategy, technology and innovation management,
and entrepreneurship to help students acquire knowledge and skills needed to convert
entrepreneurial opportunities into strategic actions. Students will be exposed to
the corporate venturing/entrepreneurial process - from opportunity recognition and
evaluation to business planning and implementation. This course is structured to improve
students' strategic and entrepreneurial mindset with an emphasis on developing and
leveraging capabilities related to sustainability.
This certification is for individuals who want to obtain a position as a Financial
Planner, Stock Broker, and select Bank Officials. The CFP is the most widely recognized
credential for financial planners. Duquesne's Certificate in Financial Planning.
This certification is available to individuals who want to obtain a position as a
Corporate Financial Manager.
This certification is attractive to individuals who want to obtain a position as a
Corporate Treasury Official and is the only professional credential in cash management.
The CTP credential, formerly the Certified Cash Manager (CCM), is widely regarded
by treasury and finance professionals as one of the leading credentials in the field
of corporate finance and treasury operations. It demonstrates a high standard of professionalism
and a commitment to performance.
This certification is recognized throughout the financial services industry as the
only certification program that thoroughly tests candidates in four distinct bank-specific
areas: Accounting, Auditing Principles and Bank Laws/Regulations, Auditing Practices,
and General Business.
This designation shows holder's professional dedication to risk management in the
financial services area.
This is the premier certification for Federal, State, and Local analysts and financial
managers.
This designation shows commitment to professional development as a financial professional
within the health care field.
