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Program Requirements

Mentors: Professors L. Barras, M. Bouvard, A. Malkhozov, S. Betermier International Stream Mentor: A. Durnev Case Competition Mentors: Professors M. Chaudhury, V. di Pietro The Finance concentration has been designed to provide understanding of key concepts in finance theory, financial institutions, investment analysis, risk management, and applied techniques. Graduates find a strong demand among financial organizations, governments, and non-financial firms where they pursue careers that lead to positions such as Managing Partner, Treasurer, and V.P. Finance.

Required Courses (9 credits)

• FINE 342 Finance 2 (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : In-depth study of corporate finance, risk, diversification, portfolio analysis, and capital market theory.

  Terms: Fall 2011, Winter 2012, Summer 2012

  Instructors: Malkhozov, Aytek; Madan, Sujata (Fall) Naciri, Ahmed; Bouvard, Matthieu (Winter) Wang, Yan (Summer)

  • Prerequisite: MGCR 341

  • Restriction: For Finance Concentration/Major/Honours

  • Restriction: Only one of FINE 342 or FINE 343 can be counted for credit

• FINE 441 Investment Management (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Application of investment principles and security analysis to the selection and comparison of equity and fixed income securities in the current economic and financial environment. Also covered are: determinants of stock prices, growth models and portfolio diversification.

  Terms: Fall 2011, Winter 2012, Summer 2012

  Instructors: Goyenko, Ruslan (Fall) Betermier, Sebastien (Winter) Langlois-Bertrand, Hugues (Summer)

  • Prerequisite: MGCR 341

• FINE 443 Applied Corporate Finance (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Concepts and techniques are applied to problems faced by managers in Corporate Finance, such as working capital management, capital budgeting, capital structure, dividend policy, cost of capital, and mergers and acquisition. Application of theory and techniques through case studies.

  Terms: Fall 2011, Winter 2012, Summer 2012

  Instructors: Hammami, Larbi (Fall) Chaudhury, Mohammed M; Kondo, Jiro (Winter) Hammami, Larbi (Summer)

  • Prerequisite: FINE 342

Complementary Courses (6 credits)

Selected from the following:

• FINE 434 Topics in Finance 1 (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Topics will be selected from current issues in the Finance Area.

  Terms: Fall 2011

  Instructors: Bartlett, Patrick John (Fall)

  • Prerequisite: MGCR 341

• FINE 442 Capital Markets and Institutions (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Functions of the capital market through flow of funds analysis and an examination of portfolio activities of financial intermediaries. Also covered are: securities regulations and ethical considerations, the term structure of interest rates and risk and rates of return in debt and equity markets.

  Terms: Fall 2011, Winter 2012

  Instructors: Barras, Laurent (Fall) Hammami, Larbi (Winter)

  • Prerequisite: MGCR 341

  • Restriction: Only one of FINE 442 or ECON 302 can be counted for credit.

• FINE 445 Real Estate Finance (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Fundamentals of mortgages from the viewpoint of both consumer and the firm. Emphasis on legal, mathematical and financial structure, provides a micro basis for analysis of the functions and performance of the mortgage market, in conjunction with the housing market. A weekly series of one-hour tutorials are mandatory for the first six weeks of class.

  Terms: Fall 2011

  Instructors: di Pietro, Vadim (Fall)

  • Prerequisite: MGCR 341

• FINE 448 Financial Derivatives (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : The course will concentrate on both the analytical and practical aspects of investments in options and futures. The first part of the course concentrates on option and futures valuation, considering both discrete and continuous time models. The second part of the course concentrates on the practical aspects of options and futures trading.

  Terms: Fall 2011, Winter 2012, Summer 2012

  Instructors: Chaudhury, Mohammed M (Fall) Chaudhury, Mohammed M (Winter) Lotfaliei, Babak (Summer)

  • Prerequisite: MGSC 272 or MGSC 372 or equivalent

• FINE 449 Market Risk Models (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Dynamic market risk models including GARCH volatility models, dynamic conditional correlation models, non-normal return distributions, option pricing allowing for skewness and kurtosis, and option risk management using delta, delta-gamma and full-valuation.

  Terms: Fall 2011

  Instructors: di Pietro, Vadim (Fall)

  • Prerequisites: FINE 441 and MGSC 272 or equivalent.

• FINE 451 Fixed Income Analysis (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Fixed income financial instruments and their uses for both financial engineering and risk management (at the trading desk and aggregate firm level). This will involve coverage of fixed income mathematics, risk management concepts, term structure modeling, derivatives valuation and credit risk analysis.

  Terms: Fall 2011

  Instructors: di Pietro, Vadim (Fall)

  • Prerequisite: FINE 441

• FINE 480 Global Investments (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Major principles of international investments and global asset allocation, focusing on recent developments in modeling and predicting global asset returns. Main approaches to stock selection, style investing, and special issues such as indirect diversification and country and industry effects in equity pricing. Use of Datastream and other financial data sources.

  Terms: Winter 2012

  Instructors: Sarkissian, Sergei (Winter)

  • Prerequisite: FINE 441, FINE 482

• FINE 482 International Finance 1 (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : The international financial environment as it affects the multinational manager. Balance of payments concepts, adjustment process of the external imbalances and the international monetary system. In depth study of the institutional and theoretical aspects of foreign exchange markets; international capital markets, including Eurobonds and eurocredit markets.

  Terms: Fall 2011, Winter 2012

  Instructors: Hammami, Larbi (Fall) Hammami, Larbi (Winter)

  • Prerequisite: MGCR 341

• FINE 492 International Finance 2 (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Focus on the operational problems of financial management in the multinational enterprise: Financing of international trade, international capital budgeting, multinational cost of capital, working capital management; International banking and recent developments in international capital markets.

  Terms: Winter 2012

  Instructors: Chaudhury, Mohammed M (Winter)

  • Prerequisite: FINE 482

• FINE 541 Applied Investments (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Students are exposed to practical aspects of managing investment portfolios. A principal activity of students is participation in the management of a substantial investment fund.

  Terms: Winter 2012, Fall 2011

  Instructors: Lester, Kenneth (Winter) Lester, Kenneth (Fall)

  • Prerequisite (Undergraduate): FINE 441. Limited enrolment. Prerequisite (Graduate): Permission of the instructor.

  • Restriction: Open to U2 students only

• FINE 547 Advanced Finance Seminar (3 credits)

  Offered by: Management (Desautels Faculty of Management)

  Overview

  Finance : Selected topics will be discussed by Faculty members, invited guest speakers, and the students. Each student is required to select a topic for study and prepare a written report for presentation.

  Terms: Winter 2012

  Instructors: Errunza, Vihang R (Winter)

  • Undergraduate Prerequisites: FINE 441 and FINE 443.

  • Graduate Prerequisite: MGCR 651.

  • Corequisites: FINE 646 and FINE 622.

  • Restriction: Not open to students who have taken FINE 647.

  • Note: Lectures for this course span both the Fall and Winter semesters.