Finance (Graduate) (FNGB)

FNGB 6411. Intro Financial Sys & Methods. (3 Credits)

FT MBA CORE/ PMBA FLEX CORE COURSE. Introduces the financial system and basic methods of valuation. Students will learn how to interpret financial data reported in the press and will discuss topical subjects facing the financial industry and the economy. Course topics include: financial markets, instruments, and institutions; time value of money, net present value, and applications; valuation of stocks and bonds; elements of firm and enterprise value; risk and return. (Formerly Financial Environment)

Prerequisites: (ACGB 6111 (may be taken concurrently) or GBA Waiver Fundamentals Acct with a score of 070) and (BEGB 6220 (may be taken concurrently) or GBA Waiver Managerial Eco with a score of 070).

Mutually Exclusive: MMGB 6411.

FNGB 7415. Credit Management. (3 Credits)

This course focuses on the analytic approach (stemming from Basel II capital accords) and will help students make wise credit decisions and manage lending portfolios. Topics include the latest lending techniques based on cash flow, advanced forecasting methods (including simulation and stochastic optimization), pricing, portfolio management, default probability, valuation analysis risk rating and credit derivatives.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 7421. Prins of Modern Finance. (3 Credits)

Provides a conceptual framework that allows both corporate finance and portfolio investment decisions to be viewed and understood in a unified context of risk and return. Examines concepts of valuation, risk and return, diversification, asset pricing and efficient markets.

Prerequisites: (FNGB 6411 or GBA Waiver Fin Environment with a score of 070).

FNGB 7422. Corporate Finance. (3 Credits)

Studies corporate finance and its specific decisions. Topics include evaluating capital expenditure proposals, forecasting financing requirements and selecting sources of financing. The course also discusses working capital management, dividend policy and contingency planning, and addresses the additional challenges of multinational firms. Students taking FNGB 7422 Corporate Finance will not receive credit for FNGB 7400 Business Finance.

Prerequisite: FNGB 7421.

FNGB 7423. Mergers, Acquisitions, and LBOs. (3 Credits)

Focuses on identifying and evaluating target companies and structuring deals. Also considers the economic and social impact of such changes in corporate ownership. Students analyze recent cases, evaluate strategic rationale, examine deal structuring and assess financial impact.

Prerequisite: FNGB 7421.

FNGB 7431. Options and Futures Markets. (3 Credits)

Examines the institutional aspects of options and futures markets and discusses the strategies of hedgers, arbitrageurs and speculators. Provides an introductory analytical foundation for pricing futures and option contracts.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 7433. Fixed Income Analysis. (3 Credits)

Introduces techniques for valuing fixed income securities and their derivatives. Emphasizes pricing and risk-measurement for government, corporate and mortgage-backed instruments. Analyzes embedded options using the binomial model. Develops fixed-income trading and portfolio management techniques, including the use of repo, futures, options, swaps and credit derivatives. Examines theory and empirical evidence on the term structure of interest rates, including the derivation of spot and implied forward yield curves.

Prerequisite: FNGB 7421.

FNGB 7441. Money Credit Interest Rates. (3 Credits)

Studies the role of money, credit and interest rates in the efficient and ethical functioning of domestic and global financial markets. This building-block course assumes a background in macroeconomics and finance, and it establishes a foundation for further study in all areas of finance. Topics include: flow of funds and interdependency within the financial system; the Federal Reserve System and its role in money creation; interest rates; the links between interest rates and the growth of money; and the effects of inflation and term structure. Prerequisites: BEGB 6220 and FNGB 6411. Also offered as BEGB 7240.

Prerequisites: (FNGB 6411 or GBA Waiver Fin Environment with a score of 070).

FNGB 7455. Global Finance. (3 Credits)

The first half of the course focuses on the theories and practices of world trade, including comparative advantage, the changing trade competitiveness of nations, and protectionism. The second half focus shifts to developing countries: including foreign investment and technology, and investment and trade opportunities, policies and regulations. For SATURDAY / HYBRID sections of this course, there will normally be 4 class meetings, and the balance on-line / contact the professor for further detail. Prerequisite: BEGB 6220.

Attribute: ABIB.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 7458. Contemp Issues Globl Fin. (3 Credits)

Explores current issues relevant to the global financial system, including international commercial and investment banking and international investments. Emphasizes the underlying conditions and fundamental trends in various sectors of international finance. Also offered as BEGB 7243.

Attribute: ABIB.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 7460. Portfolio Management. (3 Credits)

Examines portfolio objectives and links them to appropriate investment strategies. Considers the asset-allocation decision, equity and fixed-income portfolio management, return enhancement/risk control techniques and performance evaluation. Commercial-level portfolio optimization software is applied to a range of institutional portfolio problems.

Prerequisite: FNGB 7421.

FNGB 7470. Real Estate Finance. (3 Credits)

Discusses the major factors affecting the valuation and financial structuring of real estate, including general tax and depreciation policies. Presents the roles of principal lending institutions, mortgage banks and investment banks in real estate lending, syndications and partnerships. Also surveys real estate-related securities and their markets.

Attribute: ABEP.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 7475. Marketing of Financial Service. (3 Credits)

Provides a scientific understanding of tactics and strategies associated with the marketing of financial services. Emphasizes the role of industry deregulation, intensified competition, and the emergence of new technologies and products on the emerging marketing practices used by financial services institutions. Explore consumers’ unique decision-making styles in financial matters, the effects of technology deployment, and the fiduciary constraints that guide marketing activities in the markets for commercial banking services, mutual funds, investment banking services, insurance and other forms of financial services.

Prerequisites: MKGB 6710 or GBA Waiver Marketing Mgmt with a score of 070.

FNGB 749A. Financial Modeling. (3 Credits)

This course helps students develop the type of excel –based financial models that businesses use every day to analyze a wide range of financial problems and make decisions. Students deliver written and oral presentations of their models and practice critical skills for a successful career in finance.

Attribute: ASDM.

Prerequisite: FNGB 7421.

FNGB 749C. Venture Capital Financing. (3 Credits)

We will examine the changes in the asset class over time – from the formation of American Research & Development in 1946 to the formation of some of the angel-type funds of the present. We also will examine the geographical differences between venture funds – West Coast and East Coast . We also will look at specialization -- the beginnings of IT-focused investing and the move into healthcare and finally into energy. Finally we will examine the phenomenon of global venture capital. How does that vary from the way venture capital is practiced in the US. The class will be taught in modules and we also will rely on practitioners and experts to visit with the class. Where possible, the students will be asked to visit venture capital fund presentations, expert briefings as well as personal briefings.

Attribute: ABEP.

Prerequisite: FNGB 7421.

FNGB 749E. Technical Analysis. (1.5 or 3 Credits)

This course is designed to inform students about how the markets and individual stocks behave (i.e., technical analysis), and how they differ from the economy and individual companies (i.e., fundamental analysis).

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 749I. Equity Analysis. (3 Credits)

This course will feature a series of guest lecturers who are highly regarded experts in their respective areas. The course will cover wealth management, private equity, equity analysis in general and analysis within specific industry sectors such as retail, media, insurance, etc. We are looking for highly motivated students who will ask lots of questions and who will engage the guest lecturers in meaningful dialog during the discussion periods.

Prerequisite: FNGB 7421.

FNGB 749J. Sustainability and Finance. (3 Credits)

In this course we explore how the evolving needs of society are changing the way financial theories, tools, and techniques are conceived and applied. GLOBAL SUSTAINABILITY COURSE .

Attributes: ABEP, ABGS.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 749M. Hedge Fund. (3 Credits)

This course will provide an overview of hedge funds and the hedge fund industry including structure, regulation, major strategies, operations and risk management, due diligence, performance and the role of hedge funds in asset allocation and the global financial system.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 749R. ESG - Student Managed Investment Fund 1. (3 Credits)

This course is designed as a definitive simulation for the initial implementation of the ESG (Environment, Social, and Governance) Student Managed Investment Fund. We focus on tools, strategies, data, and analysis required for effective ESG portfolio construction and investment analysis. Investment students learn, apply, and practice the skill sets required for ESG investment analysis and portfolio management. Further, students will be trained on the construction of a disciplined investment process, including appropriate ESG-related investment theses, asset allocation strategies, and benchmarking. Traditional quantitative financial statement analysis and macroeconomic data will be used alongside the emerging ESG metrics and students will rely on best practices in the sustainability space. A team of portfolio managers, risk managers, and fundamental analysts with applied ESG expertise will work closely with students to ensure exposure to strategies, tools, and methodologies currently employed in the industry.

Prerequisite: FNGB 7421.

FNGB 749U. Global Financial Markets. (3 Credits)

This course provides a comprehensive overview to the workings of the global financial markets, the functions and goals of the key financial institutions, and the role played by central banks and regulatory agencies. It will cover international money markets, international equity markets, the foreigh exchange market, forward markets for commodities and financial instruments, bond markets and derivative markets. Prerequisites: BEGB 6220 and FNGB 7421 .

Attribute: ABIB.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 749X. CFA Competition and Workshop. (0 Credits)

While this course is for 0-credit, it has a heavy work load and provides valuable practical experience. Students will be arranged into teams. Each team will write a full sell-side coverage report, build out a presentation, and pitch it to Fordham Wall Street Alumni.

Prerequisite: FNGB 7421.

FNGB 74AD. Student Mgt Investment Fund II. (3 Credits)

In the second class, in the spring semester, students will learn the practice of asset allocation with focus on advantages and pitfalls of asset allocation theory. Coverage includes practiced methodologies in assessing and measuring risk, including applications of the BARRA risk models, strategies for entry and exit, and portfolio revision. A lot of care will be taken to expose the students to real-life aspects of portfolio management. This includes arranging lectures from portfolio managers, with different philosophies on portfolio selection and risk management. Prerequisite: FNGB 749R or Corequisite: FNGB 7460 .

Prerequisite: FNGB 6411.

FNGB 74AG. Finance in the Healthcare Ind. (3 Credits)

This course will present a historical development of the American healthcare system and will address the current challenges faced by both health insurers and providers, specific to managed care, reimbursement methods, and contracting. Students will learn to apply the standard tools of financial analysis and financial management in the complex and evolving setting in which the global healthcare system is currently situated. Students will also learn how to analyze the key financial indicators specific to hospitals and their direct application towards managed care contracting initiatives, debt restructure and bond rating status. Finally, the course will address the future of health insurance and managed care.

Attribute: ABHM.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74AH. Global Corp Governance. (3 Credits)

Examines how modern publicly traded corporations are governed in the global markets. It discusses the roles of the board of directors, corporate management, institutional investors, and other shareholders, and also discusses the effects of the recent legislation and financial market developments on corporate governance. Provides international comparisons of corporate governance structures and issues arising in contests for corporate control.

Attribute: ABIB.

Prerequisite: FNGB 7421 (may be taken concurrently).

FNGB 74AI. Global Equity Portfolio Management. (3 Credits)

Provides a comprehensive overview of equity portfolio management in theory and practice. Examines portfolio objectives and links them to appropriate investment strategies. It covers pricing of equities, the asset-allocation decision, return enhancement/risk control techniques, performance evaluation and recent changes in international fund management. Analyzes international investment strategy and the relative merits of various approaches.

Attribute: ABIB.

Prerequisite: FNGB 7421.

FNGB 74AJ. Global Risk Management. (3 Credits)

Covers market risk and volatility, calculation of vaR (value at Risk), Monte Carlo Simulation, credit risk and use of credit derivatives, operational risk, counterparty risk and other topics. Discusses risk regulations, including Basel II, recent developments in Basel III, and recent regulations on the banking industry in the U.S.

Attribute: ABIB.

Prerequisite: FNGB 7421.

FNGB 74AK. Raising Capital and Investing in Global Financial Markets. (3 Credits)

Provides a comprehensive overview of the going-public decision. Examines the strategies and process of corporate restructuring and investing activities, such as mergers and acquisitions, corporate diversification, spin-offs, carve outs, asset sell-offs, tracking stock, exchange offers, and debt restructuring.

Attribute: ABIB.

Prerequisite: FNGB 7421.

FNGB 74AL. Adv Corporate Finance. (3 Credits)

This course teaches the art of applying corporate finance theory and essential tools and techniques to strategic decision-making in critical real-life situations faced by organizations. The course enhances the students’ understanding of corporate finance by providing a comprehensive examination of selected advanced topics, such as alternative valuation methods, real options in corporate finance, decision trees, international operations, mergers and acquisitions, risk arbitrage, debt capacity and leveraged buyouts, private equity, warrants and convertibles, and ethical issues. The learning experience is based on lectures and a series of business cases involving individual and group work, classroom discussions, and written assignments, as well as readings and problem-solving. The case studies are drawn from a variety of industries and countries, including emerging markets, and involve complex real challenges. The course is designed for students who are already familiar with valuation, cost of capital, capital structure theory and option pricing theory and who want to learn more advanced skills and techniques required for making important executive-level decisions. Note: Students should be proficient with computer spreadsheets and financial calculators.

Prerequisite: FNGB 7422.

FNGB 74AM. Emerging Markets. (1.5 or 3 Credits)

This course explores how the major “emerging market” (EM) states have evolved from “traditional” societies with “underdeveloped” economies into modern societies with more developed economies ever since the Berlin Wall came down. Because these EM states reformed and opened up their economies, they benefited from their vast human and commodities resources and rapidly increased their per capital income.

Attribute: ABIB.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74AN. Investment Banking. (3 Credits)

This course is intended to give students a practical introduction to investment banking and its role in helping corporations raise capital from the global capital markets. Topics include: venture capital, public offerings, private placements, going public, stock and bond financing, convertibles and other hybrid instruments, design of innovative securities, swaps and other derivative instruments, mergers and acquisitions and leveraged buyouts.

Attribute: ABEP.

Prerequisite: FNGB 7421 (may be taken concurrently).

FNGB 74AO. Alternative Investments. (3 Credits)

The course is an introduction to the rapidly evolving universe of alternative investments. Delivered in modules, the course covers a broad array of alternative strategy classes (Quantitative/Systematic, Fundamental Long/Short, Global Macro, Private Equity) ranging across all major asset classes (Equities, Fixed Income, Currencies, Commodities, Derivatives). The first half of the course constructs a broad framework for the evaluation of alternative strategies, focusing on the quantitative strategy class as a diverse and relatively easier-to-evaluate source of investment ideas for discourse and case study. The second half progresses through the remainder of the alternative strategy classes under the evaluation framework, ties together the role of alternatives within an asset allocation framework, studies subjective decision making in the context of alternatives and concludes with student presentations of their favorite investment thesis from the course. Throughout, there will also be discussion of career development both within and without the alternative investment space.

Prerequisite: FNGB 7421.

FNGB 74AP. Real Estate Capital Markets. (3 Credits)

This Real Estate Capital Markets course will cover both the primary and secondary debt and equity markets linked to real estate assets. While the underlying real estate assets in the primary markets will be covered, a greater portion of the class will be devoted to the secondary debt and equity markets, mainly dealing with mortgages, mortgage backed securities, and Real Estate Investment Trusts (REITs). A distinguishing aspect of this course is the focus on the intersection of the primary and secondary real estate capital markets, investor perspectives, and the impact of macroeconomic factors. Additionally, this course will include a robust mix of quantitative and qualitative factors in order to provide a holistic, less technical perspective on the real estate capital markets, and the real estate industry at large.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74AQ. Adv Global Portfolio Mgt. (3 Credits)

The course will review (1) basics of modeling of securities' returns and volatility in the context of portfolio management / “buy-side”; (2) theoretical basis and empirical evidence of risk-return trade off and investor preferences; (3) main approaches to portfolio construction and challenges with their practical application; (4) performance evaluation, and other relevant portfolio management topics.

FNGB 74AR. ST: Corporate Restructuring. (3 Credits)

The course discusses the strategies, valuation, and processes of corporate restructuring decisions such as mergers and acquisitions, corporate diversification, spin-offs, carve-outs, asset sell-offs, tracking stock, exchange offers, and/or debt restructuring. It also discusses various securities issuances, including initial public offerings.

Prerequisite: FNGB 6411.

FNGB 74AS. Financial Modeling. (3 Credits)

Develops (using Excel) the type of financial models that businesses use every day to analyze a wide range of financial problems and make decisions. Covers modeling of financial statements and models in many other important practical areas, such as time value of money, project evaluation, bonds, investment management and derivatives. Emphasizes on using most powerful and useful tools in Excel, such as logical functions, PivotTables, Data Table, Scenario Manager, Goal Seek to solve problems that closely resemble real-life situations.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74AT. Fintech Compliance- Asia to Us. (3 Credits)

An overview of the components of an effective global Corporate Compliance Program. Examination of the Part C Risk Assessment and the Seven Steps of a corporate compliance and ethics program. Review of compliance program design and best practices, including the roles of the corporate compliance office and in-house counsel, risk assessments, Foreign Corrupt Practices Act, global codes of conduct, corporate governance, monitoring and re-evaluation.

Attribute: ABFF.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74AU. Algorithm Trading. (3 Credits)

Electronic algorithms are being used by major institutions, investment banks, and hedge funds to trade stocks, bonds, currencies, and a plethora of financial derivatives. Algorithms are being used for all aspects of trading - from asset allocation and stock selection, to execution and implementation, and for risk management and regulatory and compliance reporting. In this course, students will learn the necessary skill sets, and underlying math, statistics, and programming skills to build, develop, manage, and implement profitable algorithms across all asset classes.

Attribute: ABFF.

Prerequisite: FNGB 7421.

FNGB 74AV. Seminar in Value Investing. (3 Credits)

This survey course is designed to introduce the fundamentals of the Graham and Dodd value approach to investment analysis. The course will be segmented into two parts: the basic structure of the analytical approach to value investing and its relationship to many of the elements of the MBA curriculum will be described through lectures, exercises, readings, in-class discussions and homework assignments; the last sessions of the course will be devoted to student presentations of their investment recommendations. Parts of the course will entail empirical data analysis.

Prerequisite: FNGB 7421.

FNGB 74AW. Applied Capital Markets and Financial Regulations. (3 Credits)

This course will explore how the market structure has fundamentally changed after the 2008 liquidity and credit crisis, and how this crisis has affected liquidity, balance sheets, risk taking, and returns across the entire financial services industry. The new reality is that regulation has changed the landscape of Wall Street and the dynamic of how the sell-side and buy-side will interact in the foreseeable future.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74AX. International Fin Mgt. (3 Credits)

The goal of this course is to explain the concepts of corporate finance and their applications in an international setting. We will examine opportunities and problems that are faced specifically by multinational and foreign corporations and will compare corporate finance practices around the world. Topics covered in the course include foreign exchange rate mechanics, international parity theories, forecasting and hedging, international cost of capital, capital budgeting, capital structure, and valuation of foreign investments.

Prerequisite: FNGB 7421 (may be taken concurrently).

FNGB 74AY. Global Financial Markets. (3 Credits)

This course is intended as an introduction to Global Financial Markets. We will discuss the instruments traded in the markets, the institutions that support and frame the markets, the trading mechanisms and the regulatory structure. The course is intended to be descriptive and conceptual. The aim is to familiarize you with the breadth and scope of equity, debt, and derivative markets. We shall discuss the recent developments in the US and the development of financial markets globally.

Prerequisite: FNGB 7421 (may be taken concurrently).

FNGB 74AZ. Innov in Business & Energy. (3 Credits)

This course aims to frame and critique opportunities for business to create innovations in energy systems. It discusses how contemporary energy systems have evolved and how energy infrastructures vary across regions of the world. It also examines how business decision makers can think about choices of energy and energy systems by encouraging students to think broadly in terms of innovation possibilities.

Attribute: ABGS.

FNGB 74BA. Communicating Finance Theory. (0 Credits)

This lecture series will provide a summary of many financial topics. The class will also train students to communicate knowledge of this material to professionals at financial institutions.

FNGB 74BB. Applied Investment Principles. (3 Credits)

This course provides applications that follow Principles of Finance or Global Investment Principles. EXCEL models will be applied to CAPM modeling of Risk and Return, to Factor Models, and to Portfolio Attribution. Data may be drawing from Boomerang, Yahoo Finance, and other sources.

Prerequisite: FNGB 7421.

FNGB 74BC. Research in Value Invest. (3 Credits)

Prof. Johnson, a leading expert in the field of Value Investing, will lead a small, project based seminar that focuses on best practices in the field. Selective enrollment by approval of the instructor.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74BD. Impact Investing. (3 Credits)

This course will discuss investment strategies that have a societal orientation from both financial and socially responsible perspectives. The key questions are: how can we allocate money in a manner that is beneficial to all stakeholders and viable in a business sense, and, what are the appropriate metrics to evaluate such investments. Impact investments to be analyzed include government and ESG (environmental, social, governance) policies, micro finance, philanthropy, and green energy.

Attribute: ABGS.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74BE. Lectures in Applied Port Mgt. (3 Credits)

This advanced Portfolio Management course quickly reviews Modern Portfolio Theory (MPT) conceptual underpinnings and builds on MPT 1.0. It delves into contemporary liability driven asset allocation, MPT 2.0 and portfolio management industry practices, issues and concerns. Lectures, problem solving, and self-study along with extensive hands-on tools using Microsoft Excel based models will be used to provide a practitioner's perspective. We will review and demo contemporary asset allocation optimization and forecasting techniques, new asset class pricing and valuation, performance and risk attribution, tail risk measurement and management tools etc. using real time vendor based (third party) solutions. As prerequisites - the student should have class exposure to investment and portfolio analysis, Excel, stats, and basic regressions.

Prerequisite: FNGB 7421.

FNGB 74BF. Financial Innova & Institu. (3 Credits)

This course will introduce major financial institutions, such as commercial and investment banks, insurance companies, mutual funds, hedge funds, and credit rating agencies with a focus on their risk contributions to the modern financial system. We will examine their credit risk in depth, and how to model and analyze credit risk and products. We will also understand new financial sector regulations and systemic risk by focusing on Dodd-Frank, market based stress-testing, Comprehensive Capital Analysis and Reviews (CCAR), and other methods. This course will help prepare students for the job market at financial institutions and regulators.

FNGB 74BG. Auto Trading Systems - Intro. (3 Credits)

This course discusses key issues involved in the design of an Auto (Algorithmic) Trading Systems, and provides hands-on experience. The end product is a prototype Auto Trading System designed by students that successfully trades in the real market (stock, futures, option) using live data feeds from exchanges. Issues covered include: typical structures of trading systems; efficient processing of live information; minimizing trade slippages; handling large number of securities; asynchronous information processing; GUI interfaces; etc. Industry experts are invited to discuss new developments. Key programming techniques will be reviewed at the beginning, very briefly. The course is suitable for students in MSGF, MSQF, and other master level students with programming skills equivalent to one formal course (e.g, R, Matlab, VBA, etc). Students with less programming skill may take the course if approved by instructor.

Attributes: ABFF, BUAN.

FNGB 74BH. Investing in European Union. (3 Credits)

The EU is the largest market for US exports and foreign direct investment. The objective of the course is to familiarize students with the process of regional integration and monetary unification in Europe and the opportunities and challenges which this has created for foreign investors. Regulatory differences between the US and EU in competition laws and financial sector will related to the investment climate for foreign companies. The course will highlight that despite the deep economic and financial integration in the EU, significant country- and regional differences exist. This will be assessed through the analysis of several Harvard Business case studies covering different country- and industry experiences.

FNGB 74BJ. Financial Media. (3 Credits)

Financial Media examines the complex interactions between business, politics, and the press. The course is designed to help students achieve a better understanding of how business content is delivered and retrieved in the current media environment. The course focuses on the dynamics of reporting about companies and business industry leaders who are using the media to deliver critical messages to several stakeholder groups, including investors and consumers. The course provides numerous examples of business or political leader interactions with the media and debates their communication strategy as well as their outcomes.

FNGB 74BK. Fintech -An Introduction. (3 Credits)

FinTech is a new and emerging field of technology that is disrupting the way that many companies are conducting business. FinTech has already “forever” changed many sectors including mobile payments, social media, money transfers, loans, fundraising, travel, trading and asset management. It has completely revolutionized the way companies are developing products, conducting research, establishing directed sales and marketing plans, and utilizing start-up technology. Businesses are using FinTech to expand their products and services at a fraction of its previous cost. Entrepreneurs are utilizing FinTech as a central foundation for research, funding, and product development. Customers are already utilizing FinTech as part of their daily lives - mobile apps, social media, banking, online shopping, entertainment and gaming. This course will introduce students to the breadth of FinTech, and touch upon the technical underpinnings.

Attributes: ABBC, ABEP.

Prerequisite: FNGB 7421 (may be taken concurrently).

FNGB 74BL. Stress Tests and Cap Adequacy. (3 Credits)

The financial crisis of 2007 -08 taught us all a lesson: that preparedness is everything. How resilient and prepared will we be, and how fast will we be able to recover? This is the key focus of this course: how to plan for moments of distress so that firms such as yours have capital of a sufficient quality to survive potential storms. We will demonstrate how to create a robust capital plan and test it for moments of hypothetical stress. We will investigate exactly how a bank holding company and an insurance company should conduct their capital plan, highlighting the significant differences between the two industries. By the end of the course, you will be able to create a capital plan for your business on your own.

FNGB 74BM. Empirical Value Investing. (3 Credits)

This course examines historical data to consider empirical aspects of Value Investing. Excel or other programming will be important to the course. Theoretical and institutional issues will also be discussed.

FNGB 74BN. Investor Relations. (3 Credits)

corporate Investor Relations program formulates and communicates the financial performance and strategic direction of diversified corporations to the global investment community. Investor Relations professionals are well versed in accounting, compliance, finance, governance, marketing and communications. They collaborate with senior management and the Board of Directors to convey and interpret corporate matters to the public. This course will teach students the skills and competencies required to become a corporate Investor Relations professional. The course utilizes a course textbook, case studies, investor relations guest speakers and participation in investor relations events.

FNGB 74BP. Wharton-Impact Investment Workshop. (3 Credits)

Students will attend workshops on ESG (Environmental, Social, and Corporate Governance) and Impact Investing. They will will compete in teams of three to five against other nationwide schools to construct a 100% Impact Portfolio. Since this is a two-semester competition, only students who participated in Fall may register in Spring.

Attribute: ABGS.

Prerequisite: FNGB 7421 (may be taken concurrently).

FNGB 74BQ. Contemp Develop in Corp Fin. (3 Credits)

This course will cover a number of important topics of current interest to the corporate finance industry, such as : executive compensation and governance; utilizing and responding to fintech; importance of the growth of intangible assets; importance of large corporate cash holdings invested in risky assets, such as hedge funds and private equity.

Prerequisite: FNGB 7422.

FNGB 74BR. Behavioral Finance. (3 Credits)

Over the past several decades, the field of finance has developed a successful paradigm based on the notions that investors and managers are generally rational and that the prices of securities are generally efficient. In recent years, however, anecdotal evidence as well as theoretical and empirical research has shown this paradigm to be insufficient to describe various features of actual financial markets. In this course we will use psychology and more realistic settings to guide and develop alternative theories of financial markets. We will examine how the insights of behavioral finance complement the traditional paradigm and shed light on investors' trading patterns, the behavior of asset prices, corporate finance, and various financial market practices through lectures, case studies, and our own discussions.

Prerequisite: FNGB 7421.

FNGB 74BS. Student Managed Investment Fund: ESG-Impact. (3 Credits)

In this joint graduate and undergraduate course, students will apply their investment and portfolio skills in the analysis and selection of a real set of securities and opportunities. Selection will focus on ESG investments and/or those that stress societal impact.

FNGB 74BT. Fintech Lending & Payments. (3 Credits)

This course will consider modern on-line methods of lending and borrowing that may be outside of the traditional banking environment. The main players in the space will be analyzed, as well as their websites. Students will learn their business models, methods of credit analysis, and measures of return to investors.

Attribute: ABFF.

FNGB 74BU. Global Financial Markets and the Macro-Economy. (3 Credits)

The overarching goal of this course is to give students an understanding of the forces affecting real income growth, inflation, and asset prices in the world economy. The specific topics the course will address include: the operation of monetary and fiscal policy; how those policies affect financial markets and the broader economy; the determinants of countries’ long-term rates of growth; the factors behind the recent financial crises in the US and EU; the features of currency crises, business cycles, and financial crises historically; and the relationships linking global interest rates, exchange rates, and inflation rates. The course will combine economic theory and empirical evidence to provide a toolbox of skills that students can use to analyze these and similar issues going forward.

Prerequisite: BEGB 6220.

FNGB 74BV. Practical Exploration of M&A. (1.5 Credits)

This class will provide an introduction to the essential elements of large-cap merger and acquisition (M&A) transactions from the perspective of real, recent examples taught by a senior investment banker.

Prerequisite: FNGB 6411.

FNGB 74BW. Corporate Valuation. (1.5 to 3 Credits)

The objective of the course is to learn firm, debt, and equity valuation methods from both a conceptual and practical framework. It combines both accounting and finance into practical valuation frameworks. Adequate accounting and finance backgrounds are required. Working knowledge of Microsoft Excel is important.

Prerequisites: FNGB 6411 and FNGB 7421 (may be taken concurrently).

FNGB 74BX. Financial Markets and Major Players. (3 Credits)

This course will provide an overview of a broad range of financial markets from practitioner standpoints. It will discuss how secondary market prices—ranging from equity and fixed income to commodities and complex derivatives—are established in listed exchanges, OTC markets, and dealer platforms. We will examine the roles of both market-makers (“sell-side”) and price takers (“buy-side”), with the latter further divided into two major groups: institutional or retail. We will survey sell-side businesses, including market-makers versus agents in listed markets and OTC markets, institutional block trading, securities lending, and prime-brokerage. On the retail clientele side, we will discuss the wholesale market-making business. On the risk management end of the sell-side business, we will cover market risk, credit risk, and counterparty credit risk. At the end of the course, students should have a thorough understanding of how various businesses fit together. Hopefully, the course will help students better understand the area in which they might pursue their career paths in financial markets.

FNGB 74BY. Econtech: Econ and Data Mining. (3 Credits)

Overall financial markets and individual company performance are largely driven by the growth rate of the economy, which in turn is affected by monetary, fiscal, and currency policies. Our understanding and forecasting ability are based on analyzing and mining available data. This course will examine data and data mining to better understand a range of policy and output variables, and how they interact under different regimes.

FNGB 74BZ. ESG & Portfolio Management. (3 Credits)

This course will introduce students to the management of investment portfolios with an awareness of environmental, social, and governance (ESG) risks and objectives. We’ll start with an introduction to ESG and everything that means today. We’ll then examine a variety of approaches to ESG-aware portfolio management, including security screening and exclusion, ESG integration, best-in-class investing, thematic investing, portfolio tilting, active ownership. and impact investing. We’ll focus primarily on public equity, but other asset classes will be introduced over the term. The emphasis will be on developing a practical and applied understanding of the subject. Data widely used by ESG-aware investors will be reviewed and analyzed, including company-level third-party ESG data, ratings, and climate-related measures. Students will complete computational exercises involving that content, and will be assumed to be proficient with Excel or similar spreadsheet software, but no other coding ability will be required. The course is intended to provide the ESG investing background necessary for students seeking to participate in the ESG Student Managed Investment Fund sequence, but other students meeting the course requirements are also welcome to enroll.

Prerequisite: FNGB 7421.

FNGB 74CA. ESG Finance: Issues & Challenges. (3 Credits)

This graduate course is designed in a seminar format and will delve into topics ranging from the successful implementation of sustainability goals by corporations to evaluation of ESG-tilted portfolios by an investor. Students and participants are expected to have a basic understanding of the issues surrounding sustainability. The course is open to graduate students from the Gabelli School and the economics department. A limited number of undergraduate students from the Gabelli School may take the course with the instructor’s permission.

Prerequisite: FNGB 6411.

FNGB 74CB. Financing New Media Ventures. (3 Credits)

This course is designed for students to learn how to launch new business lines in large media corporations or new startups directly to market. Learn the critical thinking processes of venture fund managers and corporate innovation leaders in charge of dispensing capital to finance new media ventures. Students will also master effective channels of communication with key stakeholders and champions while utilizing venture capital metrics to quantify and evaluate strategic market opportunities.

FNGB 74CC. Sustainable Investing and ESG Analysis. (3 Credits)

This course has been designed to develop sustainability competencies for those aspiring to create an impact in their personal and professional lives. Students are exposed to new techniques and tools enabling them to develop sustainable investing strategies and positive outcomes. Through this course, students will learn how to identify, analyze, and integrate ESG factors across a range of asset classes while learning best practices of sustainable and impact investing. This course culminates with a case study in which you will develop your own sustainable investment strategy.

Prerequisite: FNGB 6411.

FNGB 74CD. US/UK Sustainability Communication and Reporting. (3 Credits)

This course will enable students to develop a deeper understanding of the risks and opportunities of being a sustainable business and the similarities and differences of sustainable communications between companies in the U.S. and in the U.K. Students will have the opportunity to travel to the U.K. and hear directly from leaders of industry about the challenges they face when trying to identify, evaluate, and report the issues that will allow them to operate as a sustainable business. Students will research companies in the U.K. and the U.S. to compare and contrast how different companies are handling similar situations with a focus on how they are using the U.N. Sustainable Development Goals to evaluate risk exposure and to communicate to their stakeholders.

Prerequisite: FNGB 6411.

FNGB 74CE. Introduction to ESG and Finance. (1.5 to 3 Credits)

In this course, students will learn about the history of ESG and impact investing, as well as the evolution of key social, environmental, and economic challenges. They will examine the use of ESG Value Reporting Foundation (Sustainability Accounting Standards Board) standards in the United States, Europe, and China, and they will review regulatory factors in relation to the ability of an institution to drive value for its multiple stakeholders. Students will also evaluate social tensions relating to climate change and the exponential growth of investor interest in transformative climate tech solutions. We will look at how policies and market environments, including in each student's native country, support ESG development. The course will leverage Fordham's relationship with the United Nations PRME (Principles of Responsible Management Education) program, and students will examine in detail the UN's 17 Sustainable Development Goals and the Business Roundtable pledge.

Prerequisite: FNGB 6411.

FNGB 74CF. Introduction to Climate Finance. (3 Credits)

In this course, students explore the science of climate change and its related economic and environmental impacts. They study changing global policies and examine financial tools and techniques to fight climate change in its context. Specific areas covered include the use of capital markets to create market-based emission trading systems, project finance to build renewable energy projects, venture capital to fund innovative low emission technologies, etc. The course will feature a large number of readings and a few cases to introduce students to climate finance.

Prerequisite: FNGB 6411.

FNGB 74CG. ESG - Student Managed Investment Fund 2. (3 Credits)

This course is an intensive experiential learning opportunity in which students who already completed ESG—SMIF 1 apply their skills in investment analysis and risk attribution in order to manage an actual portfolio of securities on behalf of the University. Students act as fiduciaries for a portion of the University's endowment. This is the second and immediate followup course to ESG—SMIF 1. ESG—SMIF 2 is designed to apply the analytical framework concerning financial statements, economic indicators, geopolitical concerns, ESG filters and rankings, and other investment management concerns within an ESG-based portfolio and under specific strategies. Through structured research and quantitative analysis concerning companies and their equity, debt, and other financial asset classes classes, students manage a portfolio, produce detailed and weekly metrics, pitch securities for trading, prepare trading tickets for actual execution, and recommend securities trades. Enrollment is open to both graduate and advanced undergraduate students.

Prerequisite: FNGB 749R.

FNGB 74CH. Managing Business Climate Change Risk Exposure. (3 Credits)

This course will introduce you to the effects that climate change is having on business organizations across the globe and how businesses are responding to these risks. We will explore the short-term impact on businesses of extreme weather events and the long-term impact of chronic changes in weather patterns due to global warming. The course will explain the full range of potentially severe physical risks and transition risks of climate change facing businesses today and how these risks are changing due to global warming. You will learn the strategies that businesses utilize to manage these risks, including risk avoidance, risk mitigation, and risk transfer. We will study how businesses use such important climate risk transfer mechanisms as buying insurance, including general business, flood, and business interruption insurance, and issuing catastrophe bonds. You will also learn how businesses can use derivatives, such as specialized weather derivatives and certain traditional derivatives like forwards, futures, and swaps, to hedge their climate change risk exposure. The course will explain how climate change can also give rise to opportunities for businesses to develop innovative products, services, and strategies to help other businesses. You will learn how successful businesses that recognize these opportunities can turn climate change into an advantage for their stakeholders and society.

Prerequisite: FNGB 74CF.

FNGB 74CJ. Financial Regression and Application. (3 Credits)

This course will cover basic regression analysis for finance students. The software will be based on Excel and basic Python. It will be useful to have had some exposure to Python, or other programming skills. If not, extra effort on your part should be expected—or take a Python class at the same time. You will learn how to import data and conduct analysis such as computing Beta, estimating simple multifactor models, assessing the relation between standard accounting data and stock returns, etc.

FNGB 74CK. Global Commodities Markets & Trading. (3 Credits)

The aim of this course is to introduce students to the structure of the global commodity markets and the fundamental concepts of physical and financial commodity trading, hedging, and arbitrage. The course will cover the cash, derivative, and bank-lending markets related to energies, precious metals, and agricultural commodities. It will explore the value chain of each commodity from the upstream point of production to the downstream point of distribution and consumption. The course will cover cash, derivative, and financial market pricing, as well as risk management tools and techniques employed in the “spot”, commodity, “listed” and “over-the-counter” markets utilizing live financial derivative markets and real world case studies. A knowledge of the basic operation of the futures, forwards, and listed options markets would be helpful for all students enrolled in this course.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 74CL. Intro to Fintech in Portfolio Management. (3 Credits)

This course aims to provide students with basic knowledge and skills in fintech via a comprehensive introduction to the field. Students should be able to conduct fintech problem-solving professionally and present their results to peers after taking this class. The major skills to be covered include models in fintech, financial data acquisition, data mining and visualization, machine learning in finance, and high frequency trading analytics. Topics covered include portfolio analysis, portfolio formation, and portfolio optimization using machine learning.

Prerequisite: FNGB 7421.

FNGB 74CM. Sustainability Reporting and Finance. (3 Credits)

Financial decisions worldwide are increasingly influenced by the unique risks of the 21st century. All activities demand focus on sustainability issues—from the looming impacts of climate change and risks associated with health and safety to credit and investment gaps that limit business opportunities and hamper economic progress in many parts of the world. As the challenges of scarcity of resources, the search for profits through efficiency, and impact of climate change continue to mount, environmental, social, and governance (ESG) data become essential for prudent decision-making. Along with several multinational investment banks, Dow Jones has a sustainability index indicating that the search for profitability through efficiency has transcended trends and become the new corporate norm. Students in this course study finance, corporate disclosures, and sustainability reporting practices as integrated subjects, beginning with an introduction to financial and reporting principles and moving through financial analysis and industry-focused disclosures. Additionally, the course covers diverse aspects of sustainable reporting and offers tools for effective risk assessment.

FNGB 74CN. Real Estate Capital Market Analysis. (1.5 to 3 Credits)

This course examines selected topics and issues related to real estate capital markets. Special emphasis will be placed on mortgage backed securities (MBSs) and real estate investment trusts (REITs). This class will be conducted using a lecture format. The topics include the primary mortgage market and secondary markets, the objectives and processes for designing, implementing, and servicing mortgage and asset backed securities, the tools used by the capital market for pricing and analyzing risks of MBSs, and the regulatory environment and trend of the securitization market.

Prerequisite: FNGB 7421.

FNGB 7811. Finance - Internship. (1 to 3 Credits)

FNGB 8009. M&A and Leverage Acquisition. (1.5 Credits)

The course covers corporate debt solutions and provides an overview of credit risk principles. It will focus on corporate acquisitions and LBOs, and analyze different sources of funding, from senior to subordinated. Students will hear from many guest speakers, learn main capital structure issues, and be exposed to the current market environment.

FNGB 8405. Iss. Fin: Delevgd Fin. (1.5 Credits)

This course discusses the use of debt in Leverage Buyouts, recapitalization, restructuring and refinancing, including Debtor-in-Possession (DIP) financing. Students develop practical insights by utilizing case studies from several public highly leveraged firms; practical insights are critically reviewed.

Prerequisite: FNGB 7421.

FNGB 8408. Acquisition & Leveraged Fin. (1.5 Credits)

The course covers corporate debt solutions and provides an overview of credit risk principles. It will focus on corporate acquisitions and LBOs, and analyze different sources of funding, from senior to subordinated. Students will hear from many guest speakers, learn main capital structure issues, and be exposed to the current market environment.

Prerequisite: FNGB 7422.

FNGB 8414. Modern Financial Analysis. (1.5 Credits)

Learn how the financial services industry applies valuation techniques in a deal context! In this mini-course, you will demystify the theory behind the analytics and ultimately appreciate the “art” and “science” of valuation analytics. What is a company worth? What is someone willing to pay? The answers depend on: who the seller is; who the potential buyer(s) is; the context of the transaction and the current market conditions….

Attribute: ABEP.

Prerequisite: FNGB 7421 (may be taken concurrently).

FNGB 8415. Fin'lmkts: Cncpts/Methods/Trd. (1.5 Credits)

This course provides a real-life, hands-on experience of financial market activity and its impact on the broader economy. Throughout the course, students will participate in a trading game (which is explained in more details below) to assess and manage real world factors such as counterparty risk, liquidity, leverage, etc. They will also learn the impact of various policy issues on the markets and thus the economy (ex: impact of limiting foreclosures), some of the mathematics behind the markets, and the broad spillover effects of various investor / issuer decisions. Class sessions will be divided into two parts, lectures and trading. No prior market experience is required, but students are expected to have a passion to learn about financial market activity and stay aware of current market and political conditions. Trading Game: Students participate in 5 sessions of the trading game. Essentially, this game operates in a closed economy with various market participants (sell side, buy side, central bank, etc.) that trade a wide variety of assets, including stocks, bonds, loans, indices, commodities, CDS, currencies, and options, and do so in the context of the current, real world market environment (ex: record Treasury issuance). Each class will have an active trading session, and all market participants are expected to keep and update their trade books to track their P and L.

Prerequisite: FNGB 7421.

FNGB 849C. Fin'lmkts: Cncpts/Methods/Trd. (1.5 Credits)

This course provides a real-life, hands-on experience of financial market activity and its impact on the broader economy. Throughout the course, students will participate in a trading game to asses and manage real world factors such as counter party risk, liquidity, leverage, etc.

FNGB 849G. Mergers and Acquisitions. (1.5 Credits)

Mergers and acquisitions constitute some of the most important growth, diversification, and globalization strategies for firms. Finance, specifically corporate finance, plays an important role in M&A because the completion of a deal requires careful attention to valuation, risk management, and the designing of an appropriate payment package. That design is an important part of a deal for reasons ranging from accounting and tax to synergies and stock price. In this course, students will examine these features through a number of cases and readings. We will also briefly discuss issues of corporate governance, securities law, and corporate law whenever the context requires us to do so.

Prerequisite: FNGB 7421.

FNGB 849H. Advanced Finan Modeling. (1.5 Credits)

FNGB 849I. Blockchain. (1.5 Credits)

The course will explore the role currency plays in the economy, the emerging technologies pioneering new forms of digital money, and the impact these technologies will have on currency, the economy and the broader category of capital.

Attributes: ABBC, ABEP, ABFF.

Prerequisite: FNGB 849J (may be taken concurrently).

FNGB 849J. Digital Currencies. (1.5 Credits)

Digital Currencies-New Revolution. The course will leverage what was taught in Digital Currency to explore specific examples of new technologies being used to develop new forms of currency and digital money, and redefine the broader category of capital. The course will use real products/service to explore these topics.

Attributes: ABBC, ABEP, ABFF.

FNGB 849K. Valuation and Modeling for Accounting. (1.5 Credits)

This course expands on valuation techniques discussed in Modern Financial Analysis and Vaulation Techniques. Students will have the opportunity to learn the modeling techniques used by todays Wall Street practitioners associated with Discounted Cash Flow Analysis, Merger Analysis, Purchase Price Allocations and Synergy DCFs.

Prerequisite: FNGB 8414 (may be taken concurrently).

FNGB 849L. Empirical Value Investing - A. (1.5 Credits)

This course examines historical data to consider empirical aspects of Value Investing. Excel or other programming will be important to the course. Theoretical and institutional issues will also be discussed. The "A-section" will examine several topics / methods. It is a pre-req for the "B-section," which will investigate the same issues more fully.

Prerequisite: FNGB 7421.

FNGB 849M. Empirical Value Investing - B. (1.5 Credits)

This course examines historical data to consider empirical aspects of Value Investing. Excel or other programming will be important to the course. Theoretical and institutional issues will also be discussed. The "A-section" is a pre-req for the "B-section," which will investigate the same issues more fully.

Prerequisite: FNGB 849L (may be taken concurrently).

FNGB 849N. Fintech: Disruption in Finan Services. (1.5 to 3 Credits)

The course is designed and built to ensure that students gain the knowledge and insight they need to understand the latest developments in Fintech and their disruptive impact on the global financial service industry. Upon completion of this course, students will develop a deeper understanding of business and economic aspects of financial services-based technologies; gain insight into financial ecosystems; understand the Fintech regulatory frameworks; and be able to critically evaluate the disruptiveness of Fintech innovations.

Attributes: ABEP, ABFF.

FNGB 849Q. Identifying Corporate Culture to Uncover Positive Alpha Investment. (1.5 Credits)

This course will provide a solid introduction to financial linguistic analysis that allows investors to measure the relevance and importance of intangibles like corporate culture and leadership as important contributors to future share value and Alpha. The aim of this first-ever financial linguistics course is to introduce students to the Candor Analytics process. Students will learn how this analytic process has consistently identified high-performing and underperforming stocks over the past decade.

Prerequisite: FNGB 6411.

FNGB 849R. Booms, Bubbles, Busts, and Crashes: A Capital Markets History. (1.5 Credits)

This course will prepare students to understand and anticipate regulatory and institutional changes in financial markets. Fintech and other technological changes are disrupting the financial markets in an unprecedented way—and will probably usher in new regulations. A good understanding of the market’s institutional evolution, including the evolution of money, is essential to prepare for a successful career in the financial services industry.

Prerequisites: FNGB 6411 or GBA Waiver Fin Environment with a score of 070.

FNGB 84AA. Financial Markets and Responsibility- A. (1.5 Credits)

This course is intended as an introduction to Financial Markets and Responsibility. In the first half, we will discuss the instruments traded in the markets, the institutions that support and frame the markets, the trading mechanisms, and the regulatory structure. The course is intended to be descriptive and conceptual. The aim is to familiarize you with the breadth and scope of equity, debt, and currency markets. We shall discuss the recent developments in the U.S. and the development of financial markets globally.

Prerequisite: FNGB 6411.

FNGB 84AB. Financial Markets and Responsibility-B. (1.5 Credits)

The course will provide an introduction to the environmental, social, governance (ESG) aspects of business, as well as diversity, equity, and inclusion (DEI) issues. A central theme will be the social responsibility of corporations. We will discuss how social considerations impact business and financial markets, and how business practices and disruptions affect employees and society. The focus will be on the financial implications, e.g., shareholder versys stakeholder primacy. Cases and some data analysis may be included in class discussions.

Prerequisite: FNGB 6411.

FNGB 8999. Independent Study. (3 Credits)