Finance
John Earl, Chair
Professors Fishe, Stevens
Associate Professors Arnold, Conover, Earl, Lancaster, North, Szakmary
The Finance Concentration
The finance concentration requires four courses minimum chosen from among the finance courses in addition to the pre-business and business core requirements outlined above. A maximum of six courses can be taken in any area of concentration. The finance concentration offers optional curriculum tracks.
Finance Concentration Program Tracks (suggested courses and sequences)
(1) CFA Track (emphasis on investments and securities)
- FIN 366 Investments
- FIN 462 International Financial Management
- FIN 466 Fixed Income and Derivative Securities
- FIN 467 Portfolio Management and Analysis
- FIN 468 Student-Managed Investment Fund (senior year)
Suggested Supporting Courses:
- ACCT 320 Financial Statement Analysis
- ECON 200 The Economics of Money, Banking and Financial Markets
- FIN 461 Cases and Financial Modeling
(2) Corporate Finance Track (Emphasis on Cash Management/Corporate Finance)
- FIN 361 Corporate Finance
- FIN 366 Investments
- FIN 461 Cases and Financial Modeling
- FIN 462 International Financial Management
- FIN 464 Essentials of Cash Management (senior year)
Suggested Supporting Courses:
- ACCT 301-302 Intermediate Financial Accounting I-II
- ACCT 320 Financial Statement Analysis
- ECON 200 The Economics of Money, Banking and Financial Markets
NOTES:
1) Students planning to enroll in Finance 468 should complete Finance 366 during their junior year.
2) Program tracks do not affect the finance concentration requirements of the B.S.B.A. degree.
3) IBUS students taking Finance 462 and concentrating in finance need only three additional courses in finance courses.
Special Opportunities and Graduate Work Preparation
Students are encouraged to speak to their academic advisors about special opportunities in programs such as the Student-Managed Investment Fund; Chartered Financial Analyst Student Program; Federal Reserve Challenge; Investments Club; and Business Conditions and Analysis Review.
Students interested in graduate work should consider taking ECON 340 Econometrics. In addition, a Math minor or a combination of MATH 212 Calculus II; MATH 235 Multivariate Calculus; MATH 245 Linear Algebra; MATH 329 Probability; and MATH 330 Mathematical Statistics would be especially helpful for students interested in pursuing a Ph.D. in finance.
Courses
FIN
200 Personal Finance
Major changes in financial institutions, new methods of borrowing, expanded insurance products, and new investment vehicles that have changed how we live our lives and organize our finances. Personal finance addresses all of the major personal financial planning problems that individuals and households are expected to encounter, including how to set savings goals, assess career choices, use banking, credit and other financial services, make good investment decisions, and compare insurance products. This course does not count towards the finance concentration.
Unit(s): 1
FIN
360 Principles of Financial Management
Analysis and examination of financing, investment and dividend decisions of business organizations. Financial management in the global environment.
Prerequisite(s): Accounting 201, Economics 101-102 and Business Administration 201 (BUAD 201 may be taken concurrently.).
Unit(s): 1
FIN
361 Corporate Finance
The study of theory and practice of corporate finance with special emphasis on the evaluation and financing of capital expenditures. The goal is for the student to become thoroughly competent in areas of financial mathematics, capital budgeting analysis, and capital structure theory. Topics covered include decision tree analysis, sensitivity analysis, non scale-enhancing projects, dividend policy, rights offerings, call policy, warrants, convertible debt, international corporate finance, financial distress, and financial planning.
Prerequisite(s): Finance 360.
Unit(s): 1
FIN
363 Risk Management and Insurance
Risk management, principles and theory of insurance, personal and business needs served by insurance.
Prerequisite(s): Finance 360.
Unit(s): 1
FIN
366 Investments
Security markets, investment theory, security valuation and selection. Application of investment concepts. International, derivative and option markets.
Prerequisite(s): Finance 360.
Unit(s): 1
FIN
368 Directed Independent Study
Independent research on a finance topic conducted under the direct supervision of an instructor. Does not count as one of the required finance concentration courses unless written permission is obtained from the department chair in advance.
Prerequisite(s): Permission of instructor.
Unit(s): .5-1
FIN
369 Selected Topics in Finance
Topics depend on mutual interests of instructor and students. Intended primarily as elective for finance and business administration students.
Prerequisite(s): Finance 360 and permission of instructor.
Unit(s): .5-1
FIN
461 Cases and Financial Modeling
Case study analysis of corporate financial policies and strategies. Includes development of spreadsheet-based models to analyze corporate financial strategies and valuation issues and an investigation into measuring and managing the value of companies.
Prerequisite(s): Finance 360, senior standing or permission of department.
Unit(s): 1
FIN
462 International Financial Management
Focuses on study and analysis of financial markets confronting globally oriented firms. Currency markets, international capital markets, risk exposure, risk management techniques, and valuation principles in global economy. Emphasis on application of financial management principles for multinational firms.
Prerequisite(s): Finance 360, senior standing, or permission of department.
Unit(s): 1
FIN
464 Essentials of Cash Management
Focuses on fundamental knowledge and skills required for treasury and working capital management. Topics include current developments in treasury management, banking deregulation, and international cash management. Course has an emphasis on decision-making and company valuation.
Prerequisite(s): Accounting 201 and 202, Business Administration 391, Finance 360, and senior standing or permission of department.
Unit(s): 1
FIN
465 Technical Analysis
Involves study of supply and demand through data generated by the action of markets and through the study of psychology and behavior of the various market participants. Will cover basic tools of technical analysis including the Dow theory, techniques of chart construction and interpretation, momentum and cycle studies, relative strength, industry group analysis, investor sentiment, contrary opinion and intermarket relationships. Emphasis will be placed on practical application of these tools to the investment decision-making process for both the short- and long-term. Studies will be taken from both historical and real-time situations.
Prerequisite(s): Finance 360.
Unit(s): 1
FIN
466 Fixed Income and Derivative Securities
Focuses on institutional features, pricing, risk management in fixed income, futures, option and swap markets. Fixed income topics include bond sectors and yield spreads, arbitrage-free valuation, forward rates and term structure theories, and interest rate risk. Derivatives topics include futures pricing, option payoffs and strategies, option pricing, option sensitivities and hedging, and swaps.
Prerequisite(s): Finance 366.
Unit(s): 1
FIN
467 Portfolio Management and Analysis
Analyzing financial data and analysis of securities. Selection of securities and portfolios to meet investment objectives and measure portfolio performance. International dimensions of portfolio management and risk/return matrix.
Prerequisite(s): Finance 366, senior standing, or permission of department.
Unit(s): 1
FIN
468 Student-Managed Investment Fund
Authority and attendant responsibilities of managing part of University of Richmond's endowment fund. Initial value of portfolio was $200,000. Enrollment is open to seniors only and is limited. Students enroll in fall semester for two consecutive semesters with grade awarded at end of spring term. Does not count towards the finance concentration.
Prerequisite(s): Finance 366 and permission of department. Corequisite: Finance 467.
Unit(s): 1
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