Finance (FIN)

FIN 20150 Foundations of Finance (3 Credit Hours)

The course provides an in-depth and quantitative examination of the principles of financial decision-making. Students learn the concept of value maximization, mathematics of finance, valuation of financial securities, capital investment evaluation, the estimation of required rates of return, and the theory of capital structure. Students with a major in finance must earn a grade of "C" or higher to continue in the major. This course cannot be taken Pass/Fail.

Enrollment is limited to students with a program in Engineering Corporate Practice.

Enrollment limited to students in the Mendoza College of Business college.

FIN 24150 Corporate Financial Management (3-5 Credit Hours)

This course is required for finance majors and a grade of "C" or higher is a prerequisite for continuing in the finance major. The course provides an in-depth and quantitative examination of the principles of financial decision-making. Students learn the concepts of value maximization, mathematics of finance, valuation of financial securities, capital investment evaluation, and the estimation of required rates of return. Note: this course is delivered fully online. The course design combines required live weekly meetings online with self-scheduled lectures, problems, assignments, and interactive learning materials. To participate, students will need to have a computer with webcam, reliable internet connection, and a quiet place to participate in live sessions. This course is required for finance majors and a grade of "C" or higher is a prerequisite for continuing in the finance major. The course provides an in-depth and quantitative examination of the principles of financial decision-making. Students learn the concept of value maximization, mathematics of finance, valuation of financial securities, capital investment evaluation, the estimation of required rates of return, and the theory of capital structure. (AS) This module aims to provide an introduction to the economics of money, banking and financial markets. It presents a general overview of key monetary and financial market phenomena, of how key financial and money market institutions operate and the basic workings of financial and money markets. The module is designed to provide students with a general understanding of how financial markets work and the impact of financial markets on the domestic and international economic system.

FIN 30160 Sustainability: Accounting and Reporting and Impact Investing (3 Credit Hours)

This course unfolds in two interrelated parts: sustainability accounting and reporting and impact investing. Sustainability accounting and reporting is an emerging field of accounting that provides a framework for developing corporate environmental, social, and governance (ESG) performance metrics, assessing their reliability, reporting to external stakeholders, evaluating and compensating managers and executives, and assisting managers in strategic and operational decisions that affect environmental costs and risks. The first half of the course provides a comprehensive overview of existing multidisciplinary knowledge and current practices in standard-setting and corporate sustainability accounting and reporting frameworks, for both mandatory (e.g., SEC and EPA filings) and voluntary disclosures (e.g., free-standing sustainability or integrated reports). Impact Investing is a discipline which seeks to generate social benefits as well as financial returns. Learn how capital markets and investment strategies can deliver societal and environmental impact and generate market returns. From boutique beginnings, impact investing has surged into the mainstream of global money management, capital markets and philanthropy now affecting trillions of dollars of assets under management. The greatest demand is for strategies and products that promote social good while having expected returns competitive with non-impact options. Impact investing also permeates the agendas of policymakers, wealthy and public-spirited individuals, academia, philanthropic foundations and institution asset owners. This part of the course provides a conceptual understanding of impact investing and how it manifests in real-world settings. Toward that end, not only will we review a number of dominant "classical" models in investments across asset classes, but we will also examine and analyze how impact investing exists (or does not exist) within those contexts and how proponents and critics have responded. This course will focus on the real world via case studies, live examples, and guest speakers. Students will organize into groups to discover, research, analyze and present team research projects, some or all of which may be published.

FIN 30210 Managerial Economics (3 Credit Hours)

This course provides a coordination of economic theory and managerial practice. Topics covered include: consumer demand, production functions, cost behavior, output determination, and pricing within various market structures.

Prerequisites: (ECON 10010 or ECON 10011 or ECON 10020 or ECON 10091 or ECON 10092 or ECON 20010 or ECON 20011) and (ACMS 10091 or ACMS 10145 or ACMS 20340 or ACMS 30530 or BAMG 20100 or BAMG 20150 or ECON 30330 or ITAO 20200 or MATH 30530 or PSY 30100 or SOC 30903)

Satisfies the following University Core Requirements: WKSS - Core Social Science

Enrollment limited to students in the Mendoza College of Business college.

FIN 30212 HONORS Managerial Economics (3 Credit Hours)

This section is an honors section and satisfies requirements in the Business Honors Program. The course gives a broad overview of the theory of microeconomics with the objective to develop students' ability to apply economic principles to decision making in a corporate environment. The course introduces concepts and topics related to market structures, behavioral economics, game theory, dynamic pricing and strategic pricing. The course starts from where ECON 10011 (Principles of Economics) left off without much review. The accelerated nature of the course allows one to introduce further advanced topics such as network effects, auctions, and possibly others, time permitting. The course identifies and examines the issues faced by corporations in greater depth by presenting empirical research results and real case discussions. If you felt comfortable with the material covered in Principles of Economics, are curious about how corporations use microeconomics to make decisions, and are ready to move at a faster pace, this may be the course for you. It will help you develop the necessary skills to pursue more advanced business courses and become a successful business professional and leader.

FIN 30220 Macroeconomic Analysis (3 Credit Hours)

The course addresses topics including the goals of economic policy, national income accounting, theory of income determination and the determination and behavior of economic aggregates, such as total output and the price level.

Enrollment is limited to students with a program in Economics.

Enrollment limited to students in the Mendoza College of Business college.

FIN 30400 Corporate Finance (3 Credit Hours)

This course provides a sound conceptual framework within which a wide variety of corporate financial decisions can be evaluated. The course builds upon and extends the topics in FIN 20150. Topics covered include corporate governance, financial statement analysis, security valuation, capital structure theory, dividend policy, security issuance, and capital budgeting.

Prerequisites: (ACMS 10091 or ACMS 10145 or ACMS 20340 or ACMS 30530 or BAMG 20100 or BAMG 20150 or ECON 30330 or ITAO 20200 or MATH 30530 or PSY 30100) or SOC 30903 and (FIN 20150 or FIN 24150) or BAAL 20150 or BAEG 20150 or BASC 20150 and ACCT 20100

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 30402 Honors Corporate Finance (3 Credit Hours)

This section is an honors section and satisfies requirements in the Business Scholars program. The course gives a broad overview of the theory of corporate finance with the objective to develop students' ability to apply financial principles to decision making in a corporate environment. The course introduces several of the firm's financial policy decisions such as optimal capital structure, payout policy, and capital raising and further develops valuation skills to help determine the firm's best investment opportunities in the presence of more realistic market imperfections. The course starts from where FIN 20510 (Fundamentals of Finance) left off without much review. The accelerated nature of the course allows one to introduce further advanced topics such as security design, mergers and acquisitions, and possibly others, time permitting. The course identifies and examines the issues faced by corporations in greater depth by presenting empirical research results and real case discussions. If you felt comfortable with the material covered in FIN 20510 Fundamentals of Finance, are curious about how corporations make decisions, and are ready to move at a faster pace, this may be the course for you. It will help you develop the necessary skills to pursue more advanced finance courses and become a successful finance professional and leader, but also should make you think and realize the complexity and non trivial nature of the corporate financial world. I find the subject useful, fascinating, and thought provoking; I hope you will too.

FIN 30521 The Entrepreneurial Mindset (1 Credit Hour)

Using a combination of lectures and guest speakers, this class discusses the key challenges and milestones entrepreneurs have to manage in the start-up phase of a company. We will discuss creating the initial vision, assessing the market opportunity, and how to approach the sale or exit of the company. Guest speakers will discuss how they hired and built teams, built a culture, and managed the growth of their companies. Together we'll discuss financing projects and raising funds while discussing how to deal with adversity, persevering, and pivot strategies. THIS CLASS DOES NOT COUNT AS A FINANCE MAJOR ELECTIVE

FIN 30600 Investment Theory (3 Credit Hours)

This is an advanced course covering investment theory, financial markets, and financial instruments. The topics of security analysis, and options and futures are also introduced.

Prerequisites: (ACMS 10091 or ACMS 10145 or ACMS 20340 or ACMS 30530 or BAMG 20100 or BAMG 20150 or ECON 30330 or ITAO 20200 or MATH 30530 or PSY 30100 or SOC 30903) and (FIN 20150 or FIN 24150) or BAAL 20150 or BAEG 20150 or BASC 20150 and ACCT 20100

Enrollment is limited to students with a program in Finance or Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 30700 Real Estate Fundamentals (3 Credit Hours)

This is an introduction to the principles and practices of real estate. Topics covered include land use patterns and regulation, real estate finance, valuation, real estate law, brokerage and transfers, urban economics, and real estate development. (Note: This is a required course for the Real Estate Minor. This course does not count as a Finance major elective.) The course cannot be taken Pass/Fail.

FIN 34211 Managerial Economics (3 Credit Hours)

This course investigates the relationship between intermediate microeconomic theory and managerial practice. Course topics include analysis of supply and demand, optimization techniques, theories of production and cost, market structure, and strategy. Through a combination of real-world applications, interviews with industry experts, collaborative learning, innovative use of media, and guided practice, students enrolled in this course will strengthen skills required to manage the challenges of the modern business firm. <p> Note: this course is delivered fully online. The course design combines required live weekly meetings online with self-scheduled lectures, problems, assignments, and interactive learning materials. To participate, students will need to have a computer with webcam, reliable internet connection, and a quiet place to participate in live sessions.

Prerequisites: (ECON 10010 or ECON 10091 or ECON 10011 or ECON 10020 or ECON 10092 or ECON 20010 or ECON 20011) and (ACMS 10145 or ACMS 10091 or ACMS 20340 or ACMS 30530 or ECON 30330 or MATH 30530 or PSY 30100 or BAMG 20150 or ITAO 20200 or SOC 30903)

Satisfies the following University Core Requirements: WKSS - Core Social Science

FIN 34400 Corporate Finance (3 Credit Hours)

Prerequisites: FIN 20150 or FIN 24150 or BAAL 20150 or BAEG 20150 or BASC 20150 or BASC 24150

FIN 34600 Investment Theory (3-4 Credit Hours)

This course exposes students to the fundamental concepts of investment theory, financial markets, and financial instruments. The course provides an overview of various financial instruments and the marketplaces in which they trade. The course also provides a detailed presentation of the theory and application of stock, bond, and options investing. After this course, you should have a basic understanding of risk and return, portfolio theory, the capital asset pricing model, bond pricing, interest rate risk, options, and market efficiency. Students will visit one or more of the financial markets in London.

Prerequisites: (FIN 20150 or FIN 24150 or BAAL 20150 or BAEG 20150 or BASC 20150) and ACCT 20100

FIN 36001 Directed Reading: Intensive Reading: Current Events in Business and Finance (1-2 Credit Hours)

This course prepares students for Biz Quiz, the premier undergraduate Business competition. Students will participate in the competition on November 2 and 3, 2013 at The Ohio State University. From September 16 through October 28, students will read the complete text of every story that begins or is mentioned in any way on the front page of each section of The Wall Street Journal. The reading will take approximately three hours per day, and the class will meet at least twice per week to discuss the reading. At the conclusion of the course, students will be evaluated via a detailed oral exam.

Course may be repeated.

FIN 37700 Introduction to Real Estate Finance (3 Credit Hours)

(Note: This course does not count as a Finance major elective.) This course introduces students to the basic metrics, analytic tools, and capital sources employed in the evaluation and financing of real estate investments. The course covers basic finance principles including the time value of money and internal rate of return, Other common real estate performance metrics such as net operating income, the cap rate, cash yields, equity multiples, and spread measures will be discussed. Basic pro forma analysis as used to evaluate existing real estate assets and development assets will be covered. Public and private debt and equity markets will be addressed as will private equity deal structures and debt underwriting.

FIN 37710 Real Estate Development Practicum (1 Credit Hour)

For students interested in the real estate, this course is a great opportunity to advance your understanding of the real estate industry, gain practical experience and collaborate with real estate professionals and like-minded peers. The course is organized around the Harold E. Eisenberg Foundation's Annual Real Estate Challenge (http://eisenbergfoundation.org/real-estate-education/real-estate-challenge/). A team of up to 10 Notre Dame students will compete against the best and brightest from other schools to develop, prepare, and present a business plan for a high-profile development/redevelopment project in the Chicago Metropolitan area. The team's efforts will be guided by a professor and two professional advisors, all Notre Dame alumni, who work day to day in real estate. The course deliverables will be a written report and an oral presentation delivered to a board of judges in Chicago. Students on previous teams found the experience both fun and academically enriching.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40210 Strategic Economics (3 Credit Hours)

This course provides a deeper look into the behavior of firms and consumers within a variety of market structures. Students will apply the tools of economics to analyze consumer behavior, firm pricing and output decisions, sophisticated pricing techniques, strategic competition, risk, asymmetric information, auctions, and other topics. Projects will involve the application of topics to real world data to evaluate business and financial problems.

Prerequisites: (ECON 10010 or ECON 10011 or ECON 10091 or ECON 20010 or ECON 20011 or ECON 14100)

FIN 40260 AI and Data Applications in Finance (3 Credit Hours)

With increased data availability and the rapid advancement of artificial intelligence, finance professionals need both strong data analysis skills and the ability to leverage modern AI tools effectively. This course introduces students to AI and data applications in finance using the Python programming language and its ecosystem of packages. The course is structured in four main parts. First, you will build a solid foundation in Python programming for finance, learning to work with NumPy and Pandas to collect, analyze, and visualize financial and macroeconomic data. Second, you will be introduced to AI-assisted coding tools (such as Claude, ChatGPT and similar AI coding assistants) that help you write better code, understand complex codebases, and accelerate your workflow. You'll learn how to use AI tools to make your work more efficient and rigorous. Third, you will learn machine learning techniques for finance, including dimensionality reduction with Principal Component Analysis (PCA) and penalized regression methods (LASSO, Ridge) to make predictions and identify patterns in financial data while avoiding common pitfalls like overfitting. Fourth, you will gain exposure to large language models (LLMs) and natural language processing, learning how to apply these tools to analyze financial text, classify sentiment, and build retrieval-augmented generation (RAG) systems for finance applications. Throughout the course, you will work on practical finance applications: characterizing security price movements, evaluating portfolios, predicting stock returns, and analyzing financial texts. As the field of artificial intelligence continues to grow in finance, possessing an understanding of how to leverage AI tools effectively becomes increasingly valuable for finance professionals. This course provides a practical introduction to these tools within a finance context.

Prerequisites: FIN 20150 or FIN 24150 or BAAL 20150 or BAEG 20150 or BASC 20150

Enrollment is limited to students with a program in Finance, Finance or Finance.

FIN 40262 Honors AI and Data Applications in Finance (3 Credit Hours)

Prerequisites: (FIN 20150 or FIN 24150 or BAAL 20150 or BAEG 20150 or BASC 20150) and (ITAO 20210 or ACMS 20220 or CDT 30010 or CSE 10101 or CSE 14101)

Enrollment is limited to students with a program in Finance, Finance or Finance.

FIN 40320 Management of Financial Institutions (3 Credit Hours)

Prerequisites: ACCT 20100 and (FIN 20150 or FIN 24150 or BAAL 20150 or BAEG 20150 or BASC 20150)

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40322 Honors Management of Financial Institutions (3 Credit Hours)

This course examines the theory and practice of financial firms and the markets in which they operate. It analyzes the role of various financial intermediaries in the transfer of funds between economic units. Management issues and problem-solving techniques are emphasized through the use of case studies. In this honors section, students will engage in academic readings and discussions regarding the beneficial and detrimental effects of financial institutions for the society.

Prerequisites: (FIN 30600 or FIN 34600) and (ACCT 20100 or ACCT 24100 or ACCT 24101 or ACTG 20100 or BAAL 20100 or BAEG 20100 or BASC 20100)

FIN 40340 FinTech and Cryptocurrency (3 Credit Hours)

This course explores the intersection of finance, technology, and innovation, focusing on the rapidly evolving fields of financial technology (FinTech) and cryptocurrency. Students will gain an understanding of key concepts such as digital payments, blockchain technology, decentralized finance (DeFi), and the role of cryptocurrencies in modern financial systems. The course covers the fundamentals of financial technologies, their impact on traditional financial services, and the regulatory challenges they present.

Prerequisites: (FIN 20150 or FIN 24150 or BAAL 20150 or BAEG 20150 or BASC 20150) and (ITAO 20210 or ACMS 20220 or CSE 14101)

FIN 40410 Mergers and Acquisitions (3 Credit Hours)

The objective of this course is to understand various aspects of the corporate acquisition market, including sources of acquisition synergies, valuation and pricing of acquisition targets, takeover defenses, the roles of management incentives and compensation, financing methods, the roles of insider and institutional shareholders, and regulations and taxes.

Prerequisites: FIN 30400 and (FIN 30100 (may be taken concurrently) or ACCT 30100 (may be taken concurrently) or ACCT 30110 (may be taken concurrently))

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40450 Corporate Risk Management (3 Credit Hours)

This course examines why risk management is important for non-financial firms, how they can measure their risk exposures, and alternative approaches for hedging or insuring against identified risks. It provides an in-depth analysis of strategies and financial instruments available for managing commodity price risk, currency risk, interest rate risk, and credit risk.

Prerequisites: ACCT 20200 and FIN 30400 and (FIN 30600 or FIN 34600)

Enrollment is limited to students with a program in Finance.

FIN 40460 Working Capital Management (3 Credit Hours)

This course emphasizes the set of decisions and problems that financial and operating managers face in determining short-term financial policy, setting terms when structuring contracts and deals, and managing business processes of the company. Major topics include identifying working capital elements and their relationships to company operations, financial analysis, cash forecasting, banking relations, cash-flow systems, and short-term investment and borrowing strategies.

Prerequisites: FIN 30400

Enrollment is limited to students with a program in Finance.

FIN 40470 Corporate Governance & Catholic Social Teaching (3 Credit Hours)

In this course, we will critically consider, in light of Catholic Social Teaching, three normative questions regarding the purpose, priorities, and practices of corporations. First, what does the dignity of the human person, as made in the image and likeness of God, mean for people working in business? Second, what do businesses owe to their own workers and the society writ-large, and how do we foster solidarity among those working in business? Third, how can businesses promote authentic human flourishing and integral human development? To answer these questions, we explore certain foundational concepts of Catholic Social Teaching - the dignity of the human person, solidarity and subsidiarity, the virtues of charity and justice, and the common good - and ask how these concepts can be integrated into business practices and corporate governance. To accomplish this end, student wills engage in a close reading of selections from central papal encyclicals on the "social question," including Rerum Novarum, Quadragesimo Anno, Laborem Exercens, Centesimus Annus, Caritas in Veritate, and Laudato Si', as well as contemporary scholarship in business ethics that discusses different models of corporate governance.

Prerequisites: FIN 30400 and (FIN 30600 or FIN 34600) and (FIN 30100 (may be taken concurrently) or ACCT 30100 (may be taken concurrently) or ACCT 30120 (may be taken concurrently))

Corequisites: FIN 42470

Satisfies the following University Core Requirements: WKCD-Core Cathol & Disciplines, WRIT - Writing Intensive

Enrollment is limited to students with a program in Finance.

FIN 40471 Corporate Governance & CST Discussion (0 Credit Hours)

Discussion section that accompanies the FIN 40470 lecture section. Students taking this discussion section must concurrently enroll in the main FIN 40470 lecture section.

Corequisites: FIN 40470

FIN 40500 International Finance (3 Credit Hours)

This course is an overview of the issues that corporations and financial institutions face when operating in international markets. It addresses the international financial environment and examines several factors that influence the determination of exchange rates. It defines the foreign exchange risk exposure that corporations may face and examines possible risk management solutions, with a focus on the use of derivative markets such as options, swaps, and futures. Finally, it examines investment related issues within an international setting. Case studies may be used to emphasize issues and problemsolving techniques.

Prerequisites: ACCT 20100 and (FIN 20150 or FIN 24150 or BAAL 20150 or BAEG 20150 or BASC 20150)

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40521 The Art of Investing (1.5 Credit Hours)

The Art of Investing is an advanced, capstone course aimed at weaving together insights from senior members of the Notre Dame Investment Office, CEOs, Investors, and other leaders from various fields. The objective of the course is to present a broad perspective on security analysis that goes beyond valuation and models. The focus will be analyzing investments from a more well-rounded perspective, incorporating aspects of sustainability, capital allocation, firm culture, and leadership into security analysis. Thus, the students will come from various backgrounds and majors and be expected to bring their insights to bear on case studies and readings for each class session. An important feature of this course is the willingness to participate in discussions and the ability to manage both detailed and broad discussion topics regarding specific companies, broader markets, and human behavior.

FIN 40610 Security Analysis (3 Credit Hours)

Prerequisites: (FIN 30600 or FIN 34600) and (FIN 30100 (may be taken concurrently) or ACCT 30100 (may be taken concurrently) or ACCT 30110 (may be taken concurrently))

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40615 Macrofinance and Portfolio Strategy (3 Credit Hours)

This class introduces students to the architecture, mechanics, and execution of global macro investing. It bridges the gap between macroeconomic theory and practical asset management, teaching students how to design dynamic, "all-weather" investment strategies capable of navigating diverse market environments. While traditional investment frameworks often rely on passive, fixed allocations (such as the classic 60/40 stock-and-bond portfolio), this course focuses on adaptive asset allocation. Students will explore how the interplay of core macroeconomic drivers—including real GDP growth, inflation, and central bank monetary policy—shapes global market regimes. By understanding these foundational forces, students learn to anticipate and manage structural shifts in asset correlations and market liquidity. Through a blend of quantitative analysis and economic intuition, the curriculum covers key institutional tools, including regime-dependent portfolio optimization and macro regime signaling. Ultimately, this course equips students with the critical thinking and engineering skills required to build resilient, risk-managed investment systems.

Prerequisites: FIN 20150

FIN 40620 Trading and Markets (3 Credit Hours)

This course examines the general nature of organized trading by examining how bid and offer prices are determined, how market rules evolve, and what markets should be built. While markets for products and services are discussed, the focus is on the trading of financial securities. Existing centralized equity exchanges face competition from new alternative trading systems made possible by today's information technology. This course also examines the impact and implications of this dynamic.

Prerequisites: FIN 30600 or FIN 34600

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40630 Options and Futures (3 Credit Hours)

This course examines various options and futures markets, providing rigorous training to prepare students for employment with firms where derivatives are either of primary importance (e.g., banks, trading firms) or secondary importance (e.g., corporations having interest rate or foreign exchange exposure that requires hedging.) Topics include fundamental pricing relations and models, trading strategies, and risk management. The emphasis is on financial derivatives for which the underlying assets are stocks, bonds, or foreign exchange.

Prerequisites: FIN 30600 or FIN 34600

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40640 Applied Investment Management (3 Credit Hours)

Applied Investment Management (AIM) is an application-based course that blends traditional academic objectives with the practical experience of hands-on investment management. The course provides students with a thorough grounding in the practice of portfolio management, with an emphasis on rigorous individual security evaluation and selection. Topics covered include fundamental analysis, financial forecasting, and valuation, along with economic analysis, market anomalies, and portfolio performance evaluation. Throughout the course we will emphasize the linkage between the theoretical and practical aspects of security analysis and equity investing. Each class inherits the portfolio handed over by the previous class and assumes responsibility for all individual security analysis and portfolio decisions. The course also includes a required class trip to a major financial center and a final presentation to the AIM advisory board. See aim.nd.edu for more information about the program.

Prerequisites: FIN 30400 and (FIN 30600 or FIN 34600)

Corequisites: FIN 40641

FIN 40641 Applied Investment Management Co-Req (3 Credit Hours)

This is a MANDATORY Co-Req for FIN 40640. You will be enrolled in both FIN 40640 and FIN 40641.

Corequisites: FIN 40640

FIN 40660 Fixed Income Investment Strategies (3 Credit Hours)

This course explores the intricate world of fixed income securities, a sector at the heart of the global financial system. The unprecedented market dynamics during the global financial crisis and COVID-19 pandemic, and rising national debt levels underscore the enduring importance and increasing complexity of this sector. This course studies the U.S. and global bond markets. We begin with core concepts, including fixed income valuation, the term structure of interest rates, and principles of hedging and arbitrage. Building on this foundation, the course delves into timely topics, such as the Federal Reserve’s impact on markets, fiscal capacity and Treasury supply, and new opportunities in areas like distressed investing. Throughout the course, we emphasize connecting theory with real-world applications, preparing students to navigate modern fixed income markets effectively.

Prerequisites: FIN 30600 or FIN 34600

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40662 Honors Fixed Income Investment Strategies (3 Credit Hours)

This honors course provides an advanced exploration of fixed income markets, emphasizing intellectual rigor and real-world applications. It delves into the intricate world of fixed income securities, a cornerstone of the global financial system. The course begins with core concepts such as fixed income valuation, the term structure of interest rates, and the fundamentals of hedging and arbitrage. Building on this foundation, students engage with advanced and timely topics, including the Federal Reserve’s impact on markets, fiscal capacity and Treasury supply dynamics, and opportunities in areas like distressed investing. Beyond traditional lectures, the course adopts an interactive seminar format. Students participate in accelerated learning modules, critically review cutting-edge academic research, and actively engage in class discussions. Key features include fixed income investment strategy presentations and market updates, where students analyze and present insights on recent market developments. These elements cultivate advanced analytical skills and strategic thinking, preparing students to navigate and excel in the complexities of modern fixed income markets. Minimum grades of B in FIN 20150 and FIN 30600 are required to enroll in Honors Fixed Income Investment Strategies; students not meeting this requirement will be removed from the course.

Prerequisites: FIN 30600 or FIN 34600

FIN 40670 Advanced Investment Strategies (3 Credit Hours)

This course provides an introduction to modern investment techniques used by institutional asset managers. We begin with strategic and tactical asset allocation, examining the "top-down" approaches that asset managers use to allocate capital across different asset classes. The focus then shifts to "bottom-up" investing and the active pursuit of “alpha”. But unlike fundamental investing, where investors analyze individual companies to find alpha, our focus is on investment strategies shown to deliver incremental returns, such as buying high-momentum stocks and shorting low-momentum stocks. Students will review the most common strategies employed by quantitative investment managers and gain hands-on experience with the backtesting techniques that practitioners use to evaluate potential investment strategies. The course concludes with an in-depth look at advanced risk management techniques, including how to structure portfolios effectively, manage risk exposures, and adapt dynamically to changing market conditions.

Prerequisites: FIN 30600 or FIN 34600

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40675 Modern Portfolio Management (3 Credit Hours)

This course extends the foundational concepts of investments into the practice of professional portfolio management. The course focuses on how institutional investors and private wealth managers construct, manage, and evaluate portfolios in real-world settings. Topics include strategic and tactical asset allocation, portfolio construction and optimization, trading and transaction costs, risk management, and performance evaluation. A distinguishing feature of the course is a semester-long paper portfolio exercise in which student teams manage an equity portfolio benchmarked to the S&P 500, with structured checkpoints that integrate directly with course content. Throughout the course, students work with the same professional-grade risk models and data sources used by practitioners in the industry.

Prerequisites: FIN 30600 or FIN 34600

FIN 40680 Private Equity (3 Credit Hours)

This course will expose students to investments in privately-held companies that do not trade on organized exchanges, at all stages of a firm's life cycle from venture capital through growth and mezzanine capital and leveraged buyouts. Topics include deal sourcing and structure, contract design, valuation, and returns to holders of private equity securities and publicly traded private equity firms. Recent developments, the impact of private equity on society and ethical issues surrounding each topic will also be discussed.

Prerequisites: FIN 30400 and (FIN 30600 or FIN 34600)

Enrollment is limited to students with a program in Finance.

FIN 40685 Applied Private Equity Projects (3 Credit Hours)

Applied Private Equity Projects is an advanced course that will provide an opportunity for students to practice private equity in a setting as close to real as possible. The course will combine lectures that introduce core concepts with investment projects that emphasize practical application. Through the project work, students will have the opportunity to work directly with private equity firms on a feasible yet challenging investment assignment. Class sessions will include several guest lecturers that address a variety of PE topics, including but not limited to investing fundamentals, deal sourcing, portfolio company operations, fund raising and monetization, and the importance of private equity in the global economy. The class is designed to allow a more natural business interaction that mimics as closely as possible the partner/associate relationship.

Prerequisites: FIN 30400 and (FIN 30600 or FIN 34600)

Enrollment is limited to students with a program in Finance.

FIN 40690 Behavioral Finance (3 Credit Hours)

This course provides an understanding of the behavioral biases that individuals exhibit and the effects of these biases on financial markets. Standard finance theory assumes that individuals such as investors or financial managers are rational expected utility maximizers. Behavioral finance argues that some investors are not fully rational and arbitrageurs have limits to how aggressively they can trade. A number of stock market anomalies will be presented and analyzed.

Prerequisites: FIN 30400 (may be taken concurrently) and (FIN 30600 or FIN 34600)

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40710 Real Estate Valuation and Investment (3 Credit Hours)

This course aims to provide a comprehensive understanding of the principles of real estate investments and finance, and of how to apply these principles to actual investment decisions. We will cover real estate investment analysis, valuation and financing at the “micro” (individual property) level. As part of this, we will learn the fundamentals of pro-forma construction, including a brief introduction to the software Argus. We will also discuss more advanced topics, such as real options, distress, and portfolio analysis. The course culminates in a hands-on project, in which the students work in groups on the valuation of a real estate listing.

Prerequisites: FIN 30600 or FIN 34600

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40720 Real Estate Capital Markets (3 Credit Hours)

This course analyzes primary and secondary real estate capital markets. Included are fundamental features, investment characteristics, and underwriting of commercial and residential mortgages. The economics and mathematics of alternative loan structures is considered. Additionally, construction debt, sub-debt, alternative lending (land/bridge/hard asset loans), private and public equity markets, and real estate securitization markets are covered. The basic structure and mathematics of private equity funds and joint ventures is addressed.

Prerequisites: FIN 30600 or FIN 34600

Enrollment is limited to students with a program in Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 40830 Academic Research in Finance (3 Credit Hours)

This course has two objectives. First, students will learn how to read and evaluate academic research in finance and learn how to implement the results of research in practice. Second, students will learn about a few topics in finance in depth. Most classes will consist of student presentations and discussion. The class will cover both "classic" articles and current research. Both theory and empirical work will be covered, but more time will be spent on empirical research. This class will be especially useful for students who are considering getting a PhD or pursuing a career that requires them to keep up on current research.

Prerequisites: FIN 30400 and FIN 30600

FIN 42470 Corporate Governance & CST Discussion (0 Credit Hours)

Discussion section that accompanies the Corporate Governance and Catholic Social Teaching lecture section. Students in this section must concurrently enroll in the main FIN 40470 (or BES 40470 or THEO 40641) lecture section.

FIN 44261 Practical Financial Modelling (5 Credit Hours)

Financial modelling using Microsoft Excel is used in many fields such as investment banking, mergers and acquisitions (M and A), equity research, risk analysis, valuations, investment management, credit analysis, financial projections and project evaluations. This module is designed to equip students with skills to implement financial models using Excel. It will also introduce the use of VBA (Visual Basic for Applications, Microsoft's programming language) in financial modelling. This is an applied module with an emphasis on the practical application of finance theory through in-depth Excel based laboratories. Material will be made relevant to the international finance industry with real world examples and problems relevant to global financial markets. The goal of this module is to provide students with extensive knowledge of the quantitative models used by financial institutions around the world.

FIN 44320 Financial Institution Management (3-4 Credit Hours)

The course examines how financial markets (such as those for bonds, stocks, and foreign exchange) and financial institutions (banks, insurance companies, mutual funds, and others) work. The course also covers the role of the central bank and monetary policy in the financial system. An important part of the class describes the evolution of the financial services industry, the causes, and consequences of the 2008 Financial Crisis and the Euro Crisis, as well as the response of central banks and regulators. We will also use this framework to analyze the policy responses of governments and central banks to the COVID-19 crisis and its aftermath.

FIN 44410 Mergers and Acquisitions (3-4 Credit Hours)

Despite the frequency and magnitude of Mergers and Acquisitions (M&A) activity, M&As have a poor track record of success. Building on the premise that what happens after the deal is signed is as critical as the deal-making itself, in this course the stude

FIN 44460 Working Capital Managment (3 Credit Hours)

Recognizes the elements that make up the working capital, inferring to its components, to promote its administration and thereby ensure the success of the business. Has already been pre-approved as Working Capital Management.

FIN 44500 International Finance (3-3.75 Credit Hours)

BS326/526 International Finance deals with the financial policy decisions of a firm in an international environment. Principal topics covered in the unit revolve around the financing options/decisions of multinational firms conducting business in an international arena. In particular, the unit examines (a) the international financial environment (i.e. history of monetary systems, foreign exchange markets, quotations, interest arbitrage), (b) foreign exchange risk management (i.e. how multinational firms measure and manage foreign exchange risks and derivative products) and (c) global financing and investment (i.e. Eurobonds, equity markets, cost of capital). When taught in Dublin, Ireland the course FIN 30030 International Financial Management at UCD; As the international company becomes the norm rather than the exception, the need to internationalise the tools of financial analysis is critical. In this module we examine the global financial environment, exchange rate systems and their determination, and international sources of finance for firms. This module also encompasses global risk management; we learn the tools and skills necessary to analyse, advise and recommend on the best approaches to managing exchange risks.

FIN 44530 Emerging Markets Investing (3 Credit Hours)

This course will introduce students to emerging markets investing and provide them with both the conceptual framework and practical knowledge necessary to understand emerging economies. The course will include significant practitioner involvement, combining lectures that introduce core topics with case studies that emphasize practical application. Students will develop an understanding of the unique dynamics that make finance and investing in emerging markets so challenging. At the conclusion of the course, students will be prepared to analyze emerging market economies and economies in transition, taking into account critical characteristics and historical experiences.

Prerequisites: FIN 30400 and (FIN 30600 or FIN 34600)

Enrollment is limited to students with a program in Finance.

FIN 44610 Security Analysis (3-5 Credit Hours)

The objective of this course is to develop a detailed understanding of the tools used by market professionals and corporate managers to analyze the value of companies and stocks. The central theme of the course will be the pricing of equity securities using discounted cash flow and relative valuation techniques. After completing this course, students should be able to identify and interpret the key value drivers for a firm or industry, develop quantitative models for firm and equity valuation based on DCF and multiples, and present firm and equity valuation analyses in a professional manner. AS - St. Andrews, Scotland The main aim of this module is to provide a rigorous grounding in the theory and applications of finance and a thorough synthesis of the most important current research in finance, with a particular emphasis on the applications of the principles. The ultimate aim is to provide students with a standard approach to define, measure, as well as predict the value of financial claims in a world of uncertainty. The standard notion of risk versus return is defined and analytical economic models of how risks and returns are determined and traded in financial markets. Both normative and positive aspects of financial theory will be investigated, together with supporting descriptive and empirical evidence.

Prerequisites: FIN 30600 or FIN 34600

FIN 44630 Options and Futures (3-5 Credit Hours)

Provides an introduction into the economics of "risk" and demonstrates how quantitative techniques can allow analysts to manage risk in the field. This module provides the student with an introduction to standard techniques in risk and insurance. The implementation of sound quantitative risk models to assess and insure against risk is a vital concern for all financial institutions. The module provides a comprehensive treatment of the theoretical concepts and modelling techniques of quantitative risk management. It provides students with practical tools to solve real world problems, in the context of portfolio management and credit risk. A major theme underlying all topics is the importance of ambiguity, especially regarding partial knowledge of asset distributions and investor preferences. Throughout we will relate the class discussion to current economic conditions. Trinity College, Dublin (IT): Derivatives are financial instruments whose value is based on underlying assets such as equities, commodities, interest rates, currencies, or inflation-linked indices. Over the last three decades, they have become integral to global financial markets, enabling institutions and investors to manage exposures or pursue speculative opportunities in response to market expectations. This module explores the primary types of derivatives: forwards, futures, options, and swaps, demonstrating how they are utilised to achieve various hedging and speculation objectives while providing a framework for pricing derivatives. The aim is to equip learners with a comprehensive understanding of derivative instruments and their application in financial risk management, pricing strategies, and speculative decision-making.

FIN 44650 Investment Banking (3 Credit Hours)

This course offers an understanding of Investment Banking which deals with the main activity profile and service basket of investment banks.

FIN 44660 Fixed Income Investment Strategies (3 Credit Hours)

This course is designed to provide a comprehensive introduction to fixed income securities by covering the following broad topical areas: (a) the institutions and operations involved in the fixed income securities markets; (b) the valuation and hedging of fixed income securities; (c) the term structure of interest rate; (d) the use and application of interest rate derivatives in the areas of risk management and financial engineering; and (e) the interest rate models. _____________________________________________________________________________________________________________________ HK - Hong Kong, China: The focus of this course is on the valuation of fixed-income securities and investment techniques in managing fixed-income portfolios. Topics include the term structures of interest rates and forward rates; bond pricing, interest rate and reinvestment risks; risk and hedging in bond portfolio management; duration, convexity and portfolio immunization; corporate bonds, emerging-market bonds and default risks; fixed-income securities with embedded options; callable and convertible bonds, mortgage-backed securities; interest rate derivatives; and interest rate futures, swaps, caps and floors.

FIN 44670 Advanced Investment Strategies (5 Credit Hours)

In Alternative Investments you'll construct an investment portfolio that includes a wide range of alternative assets, including real estate, energy, agriculture, precious metals, and currencies. The module is research-driven, using techniques from the cutting edge of investment management research. Seminars take place in a computer lab and are based around real-world Excel applications.

FIN 44675 Sustainable Finance (3 Credit Hours)

Finance is often seen as a hindrance to a better world. However, with the flexibility, agility, and proactivity associated with the financial sector, there is also great potential to be a key player in addressing environmental and social challenges. In order to take advantage of this, however, it is necessary to first understand all of the relevant issues involved so that solutions can be developed. This course will feature high level analysis, discussion, and critical evaluation allowing you to explore the theory, empirical data, and policy to explain the sustainability challenges maintaining ecological systems, enhancing cultural diversity, and improving social well-being and income inequality. The course has a focus on three main areas: 1. Navigating the burgeoning academic theories of sustainable finance and investment, including topics such as active ownership, climate finance, conservation finance, disclosure, divestment, engagement, green bonds, green indices, impact investing, public private partnerships, and the valuation of threatened or "stranded" assets. 2. Translating this knowledge into analysis of practical examples and case studies 3. The ability to then frame what has been learnt through the semester in a way which is meaningful and serious to the financial professionals, such as asset managers, banks, investment consultants, and ratings agencies, exploring questions around how sustainable financial engagement fits with an organization's broader strategy, and where opportunities for leadership in this sector can be expanded.

FIN 44690 Behavioral Finance (3-4 Credit Hours)

Sao Paulo, Brazil FGV: Students should be able to consolidate the previously acquired knowledge of Corporate Finance, the use of decision making tools and analysis, in contrast to the behavioral difficulties that prevent the value generation. Also, students should be able to understand why business decisions are potentially mistaken due to the influence of behavioral biases, taking examples from the business world. Lastly, students should be able to understand the importance of using Corporate Finance concepts and techniques correctly, recognizing the strength, magnitude and persistence of behavioral phenomena in the decision-making process. FIN 30190 Behavioural Finance at UCD; Behavioural Finance applies the theoretical and experimental methodologies and results of the cognitive sciences to questions concerning the ways in which individuals actually make financial decisions, in contrast to the traditional idealized economic models of choice behaviour. It also considers the impact of various individual psychological phenomena on aggregate market behaviour, addressing issues such as market efficiency and financial crises. HK Hong Kong This course provides an understanding of the behavioral biases that individuals exhibit and the effects of these biases on financial markets. Standard finance theory assumes that individuals such as investors or financial managers are rational expected utility maximizers. Behavioral finance argues that some investors are not fully rational and arbitrageurs have limits to how aggressively they can trade. A number of stock market anomalies will be presented and analyzed. IC Co. Galway, Ireland Behavioural Finance is truly an interdisciplinary field, weaving together ideas from economics, finance, psychology, sociology, and statistics. By drawing on diverse academic literature we'll uncover the decision-making processes that govern financial choices and reveal potential biases. This module offers a human-centred perspective on finance that goes beyond numbers and charts. Whether you're aspiring to be a financial analyst, investment manager, or simply seeking to make better personal financial decisions, the insights gained here will prove invaluable in navigating the complex world of modern finance. Overall, you will gain practical insights into the emotional and cognitive factors that drive human financial behaviour, equipping you with a unique perspective on personal and institutional finance.

FIN 44720 Real Estate Capital Markets (3 Credit Hours)

The objective of this course is to introduce students to the fundamentals and practical applications of Real Estate Finance "Mortgage". Topics include origination & underwriting of loans, housing policies, and risk management. The main focus would be the practical application of Real Estate Finance concepts & practices in the Egyptian Market.

FIN 44730 International Real Estate Capital Markets (3 Credit Hours)

This applied course examines strategies, capital structures, and investment vehicles associated with the development and acquisition of real estate assets in Europe. The course will explore real-world challenges facing real estate developers and capital allocators and involve practical learning with visits to portfolio assets. The course will incorporate practicing public and private capital managers and real estate professionals. Students will engage in a team-oriented final project applying the concepts learned. Principal components of the course include investment strategy, analysis and management, value-creation, fiduciary duties, and other institutional real estate management topics. This course is an elective for the real estate minor and a FIN elective.

Prerequisites: FIN 30600 or FIN 34600

Students cannot enroll who have a program in Finance or Finance.

Enrollment limited to students in the Mendoza College of Business college.

FIN 46955 Global Macro Investing (2.5-4 Credit Hours)

The purpose of this module is to enhance students' comprehension of global macro investing topics. The module is intended to provide an introduction to the theoretical framework of finance and macroeconomics, while also emphasizing recent developments in macro investment practices. Upon completing this module successfully, students are expected to possess a greater understanding of subjects such as the business cycle, monetary policy, financial market tail risks, and global capital flow. They will be acquainted with various approaches employed in investment practices, enabling them to develop practical investment expectations and independent investment perspectives. Additionally, they will have a more profound appreciation of how investment and capital flow impact society.