Program Schedule

*Program length: 10 months (September – June)

Total semester hours: 40 semester hours

* There is also a part-time option. Please contact the Director for additional details.

Program delivery: Full-time, Monday – Friday

Term 1: Fall semester (14 weeks) September - December

ECON 503 Economics for Finance – 4 semester hours

Macro and micro-economics including market forces of supply and demand, the goal of the firm, national income and accounts, business cycles, the monetary system, inflation, international trade and capital flows, currency exchange rates, monetary and fiscal policy, economic growth, effects of government regulation and the impact of economic factors on investment markets. (Undergraduate majors in economics maybe eligible to waive class.)

BMSF 505 Financial Econometrics – 4 semester hours

Econometric methods in finance including specification, estimation, and testing in regression models as applied to financial problems. Analysis and forecasting of financial data including regression time series models. Detailed coverage of ARIMA models, non-stationary time-series, co-integration, and ARCH-GARCH models. Students use analytical software and basic programming/modeling skills on numerous real data sets.

BMSF 512 Financial Accounting: Reporting & Analysis I – 4 semester hours

Intermediate financial accounting, including financial reporting (IFRS and GAAP), financial statements analysis, analysis of inventories, assets, taxes, debt, and off-balance sheet assets, and liabilities. Emphasis on ratio and financial analysis, and the quality of reported data. (Undergraduate majors in accounting maybe eligible to waive class.)

BMSF 514 Foundations of Finance – 4 semester hours

Foundations of finance across a wide spectrum of topics including the essentials of corporate finance, equity investments, fixed income, derivatives, alternative investments, and portfolio management.  (Undergraduate majors in finance maybe eligible to waive class.)

Total: 16 credit hours

Term 2: January term (4 weeks)

BMSF 507 Mathematical and Stochastic Foundations for Finance – 4 semester hours

Mathematical tools essential for finance, including matrix algebra, constrained optimization, ordinary and partial differential equations, numerical methods for optimization and differential equations, and statistics. Using financial examples, the focus is on stochastic process and stochastic calculus. Topics include: general probability theory, martingales, Brownian motion and diffusion, jump processes, and Ito’s lemma. Students gain modeling skills using analytical software.

or

BMSF 595 Internship – 4 semester hours

Application of finance in field setting. Credit granted determined by hours spent in working environment and depth of project associated with course of study. Pass/fail.

Total: 4 semester hours

Term 3: Spring term (14 weeks) February - May

BMSF 532 Valuation, Fixed Income, Derivatives, Alternatives – 4 semester hours

Valuation of investments, divisions, and firms, with an emphasis on projecting and discounting cash flows. Examines EVA, real options, and alternative methods of valuation with an emphasis on using Excel modeling. Fixed income and hybrid securities are examined including the valuation impacts of their features as well as fixed income portfolios and risk analysis (duration, convexity, immunization). In-depth analysis of the valuation of derivative securities. Introduces several alternative investments including real estate, venture capital, private equity, private firms, and commodities.

BMSF 534 Portfolio Theory and Management – 4 semester hours

Portfolio theory and application. Includes the development of investment policy statement including asset allocation and security selection tools. Study of the management of individual/family/institutional/pension portfolios across asset classes (equity, fixed income, alternatives) with regard to risk management, tax efficiency, liquidity, and execution of portfolio decisions. Covers performance reporting and attribution, and manager selection processes.

BMSF 536 Advanced Corporate Finance – 4 semester hours

Issues faced by corporate financial managers within the firm at the firm- and investment levels. Covers firm financing structure, optimal capital structure derivation, financing alternatives, costs of financial distress, and financial securities  stocks, bonds, hybrids). Investment-level topics include tools for analyzing and financing projects, and intra-firm financial structuring alternatives.

BMSF 538 Risk Management – 4 semester hours

Comprehensive risk management frameworks to categorize and understand financial and non-financial risk. Includes the measurement of risk, as well as the tools used to manage and mitigate risk, including the use of derivatives. Covers the roles and aims of regulatory agencies and structures in managing risk.

Total: 16 semester hours

Term 4: Summer term I (4 weeks) June

BMSF 599 Capstone: Integration and Graduate Research in Finance – 4 semester hours

Program integration and research project in finance.

Total: 4 semester hours