FINC 313—Business Finance: 3 credits
Business Finance is the introductory 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.
FINC 321—The Investment Environment: 3 credits
The Investment Environment provides important strategies for investing in a broad array of financial assets with a focus on common stocks, bonds and mutual funds. Topics include the structure and functioning of financial markets, trading mechanics, the measurement and presentation of performance, features of common stocks, bonds and mutual funds, financial market regulation and standards of professional conduct. Attention is given to legal, regulatory and accounting issues.
FINC 324—Fixed Income Securities: 3 credits
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.
FINC 333—Financial Management: 3 credits
Financial Management provides the second part (with Finance 330) of the necessary conceptual foundation for upper-level courses in Finance and Investment Management and is required for all students concentrating 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.
FINC 334—Theory of Finance: 3 credits
Theory of Finance is a required course for both Finance and Investment Management majors. 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. Theory of Finance also serves as the introductory course to the Duquesne University Investment Center in which students become proficient in using Bloomberg, Compustat, Morningstar/Ibbotson and other financial applications.
FINC 336—Security Analysis: 3 credits
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.
FINC 338—Derivatives: 3 credits
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. Students will have an opportunity to study actual market behavior through project analysis.
FINC 432—Credit Management: 3 credits
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 will augment their financial statement analysis with industry considerations, qualitative parameters and various loan structures for credit details. Portfolio considerations will also be evaluated.
FINC 433W—Financial Markets and Institutions: 3 credits
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.
FINC 437—International Financial Management: 3 credits
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.
FINC 450W—Cases in Finance: 3 credits
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.