Finance

Program Director: George E. Kulick (of Finance and Business Analytics)

Associate Professor: George E. Kulick

Assistant Professor: Chandan K. Jha

Visiting Associate Professor: Jinhu Qian

Finance is the study of the allocation of scare financial resources to maximize their utility. Students in the finance program study the science and art of making investment and financing decisions under conditions of uncertainty at both the individual and institutional levels. For example, students learn how to answer questions such as:

  • How do we evaluate a corporate investment project, and how should we finance the project?
  • How do we manage a portfolio through the allocation of capital among different asset classes so as to maximize the portfolio’s return while maintaining an acceptable level of risk?
  • How do we identify and manage risk in a constantly changing market?
  • How can we use opportunities scattered throughout the international financial markets to balance the trade-off between risk and return?

Students will explore the theories and practices of topics such as asset allocation, portfolio management, capital budgeting, securities markets, risk management, and international finance. Our finance program emphasizes the development of analytical skills to solve practical issues that arise in dynamic financial environments.

Students who major in finance take courses such as Managerial Finance, Financial Institutions and Capital Markets, Investments, Banking, International Financial Management, and Corporate Risk Management.

Students also have the opportunity to pursue a dual major in finance and either business analytics or information systems.

Finance (FIN)

FIN 201. Personal Finance. 3 Credit Hours.

A survey of the business and economic decisions that an individual makes in his or her personal life. Information base covers; savings, general investing, credit and critical thinking skills with respect to personal financial planning concepts. Course will be taught in Le Moyne's newly established Trading Center to provide real world investment experience and provide students with the opportunity to manage their own personal mock investment portfolio. Open to both non-business and business students.

FIN 301. Managerial Finance. 3 Credit Hours.

Foundation of financial theory and techniques of financial decision making. The topics include financial market environments and interest rates, time value of money, risk and returns, capital asset pricing models, valuation of bonds and stocks, capital budgeting, intermediate and long-term financing, cost of capital,capital structure, dividend policy, working capital management and financial planning.

Prerequisites: ACT 203 or ACT 201; STA 201; ECO 113 and ECO 114.

FIN 302. Economics of Financial Markets. 3 Credit Hours.

This course includes monetary theory, price level determination, determination of the supply of money, foreign exchange rates, operations of the commercial banks and the Federal Reserve System and monetary policy.

Prerequisites: ECO 113 & ECO 114.

Cross-listed Courses: ECO 228

FIN 360. Intermediate Managerial Finance. 3 Credit Hours.

Advanced coverage of corporate finance issues, including capital budgeting, capital structure, dividend policy, corporate governance, merger and acquisition, public and private offerings and bankruptcy and reorganization.

Prerequisite: FIN 301.

FIN 365. Financial Institutions & Capital Markets. 3 Credit Hours.

This course studies financial markets and institutions and their various functions and operations in capital and money markets. Its topics include interest rates, Fed functions and monetary policy, money markets and capital markets, securities offering, valuation and risk in the various markets, bank and nonbank operations and management.

Prerequisite: FIN 301.

FIN 401. Investments. 3 Credit Hours.

This course is an introduction to modern investment theories and practice. It covers important issues facing an investor in capital markets. The topics include portfolio theory and management, asset pricing models in capital markets, fixed-income securities and equity valuation, investment performance evalution and derivative securities.

Prerequisite: FIN 301.

FIN 435. Introduction to Government Systems. 3 Credit Hours.

This course focuses on introductory government systems concepts, processes and functions, utilizing the Federal Acquisition Regulations (FAR). Students will examine FAR regulations, processes and nomenclature, utilizing existing and proposed regulations and industry case studies, and appropriate support technology. Guest speakers and field research provide students with access and information from industry and academia.

Prerequisites: ACT 202 or ACT 204.

Cross-listed Courses: BUS 435, ACT 435, MIS 435, MIS 535

FIN 450. Banking. 3 Credit Hours.

Banking as a business, how banks augment money supply; their role in loans, investments and credit management; the mechanisms of interbank transfers of payments within and outside national boundaries; commercial banks, mutual banks, savings and loan associations, credit unions, etc., and the nature and scope of their operations; regulations of banks by the central bank and other governmental agencies. Recommended prerequisite: FIN 365.

FIN 455. International Financial Management. 3 Credit Hours.

A study of international financial markets where different currencies are used by international institutions, such as multinational banks and corporations. A recent development of business globalization has created an environment that requires business students to understand and apply basic financial management tools necessary for evaluation of international markets. The course focuses on foreign exchange rate, risk management, regulatory environment and short- and long-term financing of multinational institutions.

Prerequisite: FIN 301 or permission of instructor.

FIN 460. Corporate Risk Management. 3 Credit Hours.

This course studies the crucial tools necessary for corporations and investors to effectively hedge long or short positions with financial derivatives in order to protect them from losses. The course emphasizes how to use derivatives to maximize firm value through risk management. Coverage includes an evaluation of tools identifying potential risks, an integrated approach to risk management, hedging with forward and futures contracts, managing cash flow exposures, hedging with options and option pricing models, credit risks and credit derivatives, and recent and future developments on the practice of risk management.

FIN 465. Distress Investing. 3 Credit Hours.

The purpose of this course is to provide the student with the needed tools to understand and learn the discipline of distress investing. Distress investing is one of the areas of "Fundamental Finance:. Other areas of "Fundamental Finance" include Value Investing, Control Investing, Credit Analysis, and First and Second Stage Venture Capital Investing. This is a course about business valuation, corporate finance, bankruptcy law and security analysis with an emphasis on analyzing public companies that are in financial distress, from the bottom up. This is in sharp contrast to traditional academic finance, which is heavily top down and assumes there is substantive consolidation between the company and its constituencies (managments, stockholders, bondholders, trade vendors, etc.).

Prerequisites: FIN 301 or FIN 601 or equivalent.

FIN 467. Modern Security Analysis. 3 Credit Hours.

The purpose of the course is to provide the student with the needed knowledge and analytical tools to understand and learn the discipline of modern security analysis. The course will focus on business valuation, advanced corporate finance and security analysis with an emphasis on analyzing public companies from the bottom up (as stand-alone, separate and distinct from shareholders, managements, creditros, regulators). The course is centered on the valuation of businesses and how corporate values are reflected or not reflected in public security prices and why. Secondary topics discussed include elemetns of corporate law, securities law, credit analysis, and financial accounting as related to security analysis. Prerequisite(s): FIN 301 or FIN 601 or equivalent.

Cross-listed Courses: FIN 667

FIN 478. Financial Telecomm & Cybersecurity. 3 Credit Hours.

This course provides an overview of the concepts and principles of telecommunications systems and networks, blending technical with managerial topics. Students will focus on the challenges inherent in securing financial telecommunications networks, particularly the challenges of insider threats. Students will local area networks, wide area networks, wireless networks, value-added networks, as well as other networks. Students will complete a series of network installation and test projects, and will analyze network design cases throughout the semester. Guest speakers from industry and case studies from on-going research will provide a real-world context for the topics discussed in class. Students may sit for network certification following completion of the course.

Prerequisites: MIS 201, or permission of the instructor.

Cross-listed Courses: MIS 712, MIS 478

FIN 601. Financial Management. 3 Credit Hours.

Introduction to the theory and practice of real and financial asset decision making. Topics include short and long term financial planning, capital budgeting, capital structure, option pricing and hedging financial risk, domestic and global financial markets, financial ethics. Case analysis, group and individual projects and use of commercially available financial software packages provide students with ample opportunities to implement financial decisions. Recommended prerequisites: ACT 501 and STA 501.

FIN 665. Distress Investing. 3 Credit Hours.

The purpose of this course is to provide the student with the needed tools to understand and learn the discipline of distress investing. Distress investing is one of the areas of "Fundamental Finance:. Other areas of "Fundamental Finance" include Value Investing, Control Investing, Credit Analysis, and First and Second Stage Venture Capital Investing. This is a course about business valuation, corporate finance, bankruptcy law and security analysis with an emphasis on analyzing public companies that are in financial distress, from the bottom up. This is in sharp contrast to traditional academic finance, which is heavily top down and assumes there is substantive consolidation between the company and its constituencies (managments, stockholders, bondholders, trade vendors, etc.).

Prerequisites: FIN 301 or FIN 601 or equivalent.

FIN 667. Modern Security Analysis. 3 Credit Hours.

The purpose of the course is to provide the student with the needed knowledge and analytical tools to understand and learn the discipline of modern security analysis. The course will focus on business valuation, advanced corporate finance and security analysis with an emphasis on analyzing public companies from the bottom up (as stand-alone, separate and distinct from shareholders, managements, creditors, regulators). The course is centered on the valuation of businesses and how corporate values are reflected or not reflected in public security prices and why. Secondary topics discussed include elemetns of corporate law, securities law, credit analysis, and financial accounting as related to security analysis.

Prerequisite: FIN 301 or FIN 601 or equivalent.

Cross-listed Courses: FIN 467

FIN 701. Investment Management. 3 Credit Hours.

A survey of investment theory, security analysis and portfolio management with applications to domestic and international markets. Efficient capital markets, development of innovative financial instruments and portfolio hedging topics are emphasized. Cases and projects are required.

Prerequisite: FIN 601.

FIN 790. Special Topics in Finance. 3 Credit Hours.

Courses in this series offer an in-depth exploration of specific issues within the field of finance, as well as topics of current interest to students and instructors.