Twin Cities campus

This is archival data. This system was retired as of August 21, 2023 and the information on this page has not been updated since then. For current information, visit catalogs.umn.edu.

 
Twin Cities Campus

Finance M.S.

Finance
Curtis L. Carlson School of Management
Link to a list of faculty for this program.
Contact Information
MBA & MS Programs Carlson School of Management 321 19th Avenue South, Suite 1-110 Minneapolis, MN 55455 Phone: 612-625-5555
Email: msf@umn.edu
Website: https://carlsonschool.umn.edu/degrees/master-science-in-finance
  • Program Type: Master's
  • Requirements for this program are current for Summer 2023
  • Length of program in credits: 39
  • This program requires summer semesters for timely completion.
  • Degree: Master of Science
Along with the program-specific requirements listed below, please read the General Information section of this website for requirements that apply to all major fields.
The 39-credit Master of Science Program in Finance provides students with an advanced understanding of the tools and methods used in businesses, and in financial markets. The program focuses on combining financial theory with quantitative and computational methods, and real-world applications. Students can complete this full-time graduate program in 10 or 16 months. Graduates will be able to analyze and interpret complex financial data, and communicate its implications. Successful applicants begin their MS studies in summer (July).
Accreditation
This program is accredited by AACSB International. The M.S. in Finance is STEM designated.
Program Delivery
  • via classroom (the majority of instruction is face-to-face)
Prerequisites for Admission
Applicants must have a bachelor's degree from an accredited college or university.
Other requirements to be completed before admission:
- University level courses in calculus and statistics are required. - Linear algebra is recommended, but not required. - Work experience is not required, but preferred. Additional requirements for MSF Research Track: - Linear Algebra - Intermediate Microeconomics - Intermediate Macroeconomics
Special Application Requirements:
Applicants must submit all application materials through the University's admissions system. Application materials include: - Online application & application fee. - Transcripts from all colleges/universities previously attended. Non-English transcripts must be accompanied by an English translation. - A GMAT or GRE General Test that is not more than five years old, with an acceptable score. A GMAT/GRE waiver is available for qualified candidates. - For international and domestic applicants whose first language is not English, an acceptable score on the Test of English as a Foreign Language (TOEFL), International Language Testing System (IELTS), or Pearson (PTE). - Two recommendations need to be submitted through the online application. - A personal statement of career goals, and objectives for pursuing a MS Finance degree. The personal statement questions are the following: (1) Why are you interested in studying at the Carlson School of Management at the University of Minnesota? What draws you to the Carlson School's MSF program specifically? (approx. 200 words) (2) Briefly describe your short-term and long-term career goals. How will completing an MS in Finance program at this time help you toward achieving your goals? (approx. 300 words) (3) What do you feel makes you a strong candidate for the program? How will you contribute to the program overall? (approx. 250 words) (4) Additional question required for MSF Research Track: Please briefly describe any research experience that you had before. What did you learn from your research experience? - Applicants must submit a current resume that includes job responsibilities and accomplishments in the online application. - Applicants may choose to submit an essay to comment on any item(s) in their application they consider worthy of further explanation. - Video Essay. - Interview (by invitation only). https://carlsonschool.umn.edu/degrees/master-science-in-finance/admissions/application-requirements
Applicants must submit their test score(s) from the following:
  • GRE
  • GMAT
International applicants must submit score(s) from one of the following tests:
  • TOEFL
  • IELTS
Key to test abbreviations (GRE, GMAT, TOEFL, IELTS).
For an online application or for more information about graduate education admissions, see the General Information section of this website.
Program Requirements
Plan C: Plan C requires 39 major credits and up to credits outside the major. There is no final exam. A capstone project is required.
Capstone Project: Students engage in full-semester experiential learning application of finance theory and quantitative, computational skills learned throughout the program to analyze real financial challenges for real client companies. The final project consists of the development and presentation of results, interpretations, insights, and recommendations, which client companies then use in their business practices.
This program may not be completed with a minor.
Use of 4xxx courses towards program requirements is not permitted.
A minimum GPA of 2.80 is required for students to remain in good standing.
Required Courses (27 credits)
Take the following courses:
MSF 6021 - Communications for Finance (2.0 cr)
MSF 6031 - Financial Accounting (3.0 cr)
MSF 6121 - Fixed Income and Securities (2.0 cr)
MSF 6221 - Finance I: Risk, Return, and Value (2.0 cr)
MSF 6222 - Finance II: Cash Flows, Managerial Decisions, and Project Valuation (2.0 cr)
MSF 6223 - Corporate and Entrepreneurial Finance (2.0 cr)
MSF 6321 - Quantitative Portfolio Analysis (2.0 cr)
MSF 6322 - Corporate Valuation and Modeling (2.0 cr)
MSF 6421 - Computing for Finance: Excel/VBA I & II (2.0 cr)
MSF 6422 - Financial Econometrics and Computational Methods I (2.0 cr)
MSF 6522 - Derivatives and Risk Management (2.0 cr)
MSF 6621 - Finance within the Macroeconomy (2.0 cr)
MSF 6921 - Introduction to Python (2.0 cr)
Experiential Learning (4 credits)
All MSF students must complete an experiential learning course to earn their degree.
Take 1 or more course(s) totaling exactly 4 credit(s) from the following:
· MBA 6501 - Carlson Funds Enterprise: Growth (1.0-4.0 cr)
· MBA 6502 - Carlson Funds Enterprise: Fixed Income (1.0-4.0 cr)
· MSF 6821 - Experiential Learning (4.0 cr)
Electives (8 credits)
Select 8 elective credits from the following, or graduate courses offered by other departments in the business school upon approval. Students may pursue optional focus in asset management, corporate finance, or health finance.
Take 8 or more credit(s) from the following:
· ACCT 5141 - Financial-Data Analytics (2.0 cr)
· ACCT 5161 - Financial Statement Analysis (2.0 cr)
· APEC 5831 - Food and Agribusiness Marketplace (2.0-3.0 cr)
· FINA 6111 - Financing over a Firm?s Lifecycle (1.0 cr)
· FINA 6112 - Private Equity (1.0 cr)
· FINA 6113 - Public Equity (1.0 cr)
· FINA 6123 - Financial Services Industry (2.0 cr)
· FINA 6125 - Cryptocurrency, Blockchain, and Their Business Applications (2.0 cr)
· FINA 6212 - Working Capital Management (1.0 cr)
· FINA 6213 - Financial Capital Structure (1.0 cr)
· FINA 6214 - Business Valuation (1.0 cr)
· FINA 6215 - The CFO Mindset: Finance, Strategy and Operations (1.0 cr)
· FINA 6222 - Mergers and Acquisitions (2.0 cr)
· FINA 6323 - Advanced Financial Modeling (2.0 cr)
· FINA 6325 - Behavioral Finance (2.0 cr)
· FINA 6511 - Options for Corporate Finance (1.0 cr)
· FINA 6611 - Finance for Multinationals (1.0 cr)
· FINA 6623 - Economic Booms and Busts (2.0 cr)
· IDSC 6051 - Information Technologies and Solutions (2.0 cr)
· INS 6205 - Insurance Theory and Practice (2.0 cr)
· MBA 6111 - Organizational Behavior (2.0 cr)
· MBA 6121 - Data Analysis and Statistics for Managers (3.0 cr)
· MBA 6141 - Managerial Economics (2.0 cr)
· MBA 6235 - Managerial Accounting (2.0 cr)
· MBA 6315 - The Ethical Environment of Business (2.0 cr)
· MBA 6501 - Carlson Funds Enterprise: Growth (1.0-4.0 cr)
· MBA 6502 - Carlson Funds Enterprise: Fixed Income (1.0-4.0 cr)
· MGMT 6004 - Negotiation Strategies (2.0 cr)
· MGMT 6034 - Strategic Leadership (2.0 cr)
· MGMT 6084 - Management of Teams (2.0 cr)
· MGMT 6465 - Leadership and Personal Development (2.0 cr)
· MILI 6235 - Pharmaceutical Industry: Business and Policy (2.0 cr)
· MILI 6562 - Information Technology in Health Care (2.0 cr)
· MILI 6589 - Medical Technology Evaluation and Market Research (2.0 cr)
· MILI 6726 - Medical Device Industry: Business and Public Policy (2.0 cr)
· MILI 6920 - MILI Topic Course (2.0 cr)
· MILI 6963 - Healthcare Analytics (2.0 cr)
· MILI 6985 - The Health Care Marketplace (2.0 cr)
· MILI 6995 - Medical Industry Valuation Laboratory (2.0 cr)
· MSF 6423 - Financial Econometrics and Computational Methods II (2.0 cr)
· MSF 6424 - Introduction to Machine Learning for Finance (2.0 cr)
Non-Credit Courses
Noncredit 1: On occasion, external speakers will be brought in to enhance the experiential learning component of the MS finance program. Students are required to attend such meetings, and their participation will be assessed on a pass/fail basis. Noncredit 2: Students will be required to pass the online ethics module from the Chartered Financial Analyst Institute by the end of the summer. Successful completion will be a requirement of the Fundamentals of Finance II course.
Joint- or Dual-degree Coursework:
MS-Finance/MS-Business Analytics Students may take a total of 12 credits in common among the academic programs.
Program Sub-plans
A sub-plan is not required for this program.
Students may not complete the program with more than one sub-plan.
Research Track MSF
The Research Track MS in Finance is a one-year, 39-credit program that will provide students with basic research skills that can prepare them for research-oriented jobs or admission to a PhD program in Finance.
MSF Required Courses (21 credits)
MSF 6031 - Financial Accounting (3.0 cr)
MSF 6221 - Finance I: Risk, Return, and Value (2.0 cr)
MSF 6222 - Finance II: Cash Flows, Managerial Decisions, and Project Valuation (2.0 cr)
MSF 6223 - Corporate and Entrepreneurial Finance (2.0 cr)
MSF 6421 - Computing for Finance: Excel/VBA I & II (2.0 cr)
MSF 6422 - Financial Econometrics and Computational Methods I (2.0 cr)
MSF 6621 - Finance within the Macroeconomy (2.0 cr)
MSF 6921 - Introduction to Python (2.0 cr)
MSF Required Courses Menu
Students must complete two of these three courses.
Take exactly 2 course(s) from the following:
· MSF 6121 - Fixed Income and Securities (2.0 cr)
· MSF 6321 - Quantitative Portfolio Analysis (2.0 cr)
· MSF 6522 - Derivatives and Risk Management (2.0 cr)
PhD Required Courses (8 credits)
FINA 8802 - Theory of Capital Markets I: Discrete Time (2.0 cr)
FINA 8812 - Corporate Finance I (2.0 cr)
FINA 8813 - Corporate Finance II (2.0 cr)
FINA 8822 - Empirical Methods in Finance (2.0 cr)
Experiential Learning (4 credits)
MSF 6821 - Experiential Learning (4.0 cr)
Electives (6 credits)
Select 6 elective credits from the following, or graduate courses offered by other departments in the business school upon approval.
Take 6 or more credit(s) from the following:
· ACCT 5141 - Financial-Data Analytics (2.0 cr)
· ACCT 5161 - Financial Statement Analysis (2.0 cr)
· APEC 5831 - Food and Agribusiness Marketplace (2.0-3.0 cr)
· FINA 6111 - Financing over a Firm?s Lifecycle (1.0 cr)
· FINA 6112 - Private Equity (1.0 cr)
· FINA 6113 - Public Equity (1.0 cr)
· FINA 6123 - Financial Services Industry (2.0 cr)
· FINA 6125 - Cryptocurrency, Blockchain, and Their Business Applications (2.0 cr)
· FINA 6212 - Working Capital Management (1.0 cr)
· FINA 6213 - Financial Capital Structure (1.0 cr)
· FINA 6214 - Business Valuation (1.0 cr)
· FINA 6215 - The CFO Mindset: Finance, Strategy and Operations (1.0 cr)
· FINA 6222 - Mergers and Acquisitions (2.0 cr)
· FINA 6323 - Advanced Financial Modeling (2.0 cr)
· FINA 6325 - Behavioral Finance (2.0 cr)
· FINA 6511 - Options for Corporate Finance (1.0 cr)
· FINA 6611 - Finance for Multinationals (1.0 cr)
· FINA 6623 - Economic Booms and Busts (2.0 cr)
· IDSC 6051 - Information Technologies and Solutions (2.0 cr)
· INS 6205 - Insurance Theory and Practice (2.0 cr)
· MBA 6111 - Organizational Behavior (2.0 cr)
· MBA 6121 - Data Analysis and Statistics for Managers (3.0 cr)
· MBA 6141 - Managerial Economics (2.0 cr)
· MBA 6235 - Managerial Accounting (2.0 cr)
· MBA 6315 - The Ethical Environment of Business (2.0 cr)
· MBA 6501 - Carlson Funds Enterprise: Growth (1.0-4.0 cr)
· MBA 6502 - Carlson Funds Enterprise: Fixed Income (1.0-4.0 cr)
· MGMT 6004 - Negotiation Strategies (2.0 cr)
· MGMT 6034 - Strategic Leadership (2.0 cr)
· MGMT 6084 - Management of Teams (2.0 cr)
· MGMT 6465 - Leadership and Personal Development (2.0 cr)
· MILI 6235 - Pharmaceutical Industry: Business and Policy (2.0 cr)
· MILI 6562 - Information Technology in Health Care (2.0 cr)
· MILI 6589 - Medical Technology Evaluation and Market Research (2.0 cr)
· MILI 6726 - Medical Device Industry: Business and Public Policy (2.0 cr)
· MILI 6920 - MILI Topic Course (2.0 cr)
· MILI 6963 - Healthcare Analytics (2.0 cr)
· MILI 6985 - The Health Care Marketplace (2.0 cr)
· MILI 6995 - Medical Industry Valuation Laboratory (2.0 cr)
· MSF 6423 - Financial Econometrics and Computational Methods II (2.0 cr)
· MSF 6424 - Introduction to Machine Learning for Finance (2.0 cr)
Required: Non-Credit Courses
Noncredit 1: On occasion, external speakers will be brought in to enhance the experiential learning component of the MS finance program. Students are required to attend such meetings, and their participation will be assessed on a pass/fail basis. Noncredit 2: Students will be required to pass the online ethics module from the Chartered Financial Analyst Institute by the end of the summer. Successful completion will be a requirement of the Fundamentals of Finance II course.
 
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MSF 6021 - Communications for Finance
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course covers guidelines and practical skill development for writing well-organized, professional documents and delivering confident, credible, and dynamic presentations. Students will practice designing and delivering effective messages including reader-friendly documents and PowerPoint using a professional writing style and document design. Through discussion and practice, students will also learn to deliver poised, formal and informal presentations to small and large groups both individually and in teams. prereq: Summer Cohort Completion
MSF 6031 - Financial Accounting
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Summer
This course provides students with a deep understanding of financial accounting fundamentals so that they can make decisions based on reported financials. Students will learn how a firm's operating activities, its investments, and financing transactions are recorded in the income statement, balance sheet, and statement of cash flows. Students will develop some skills needed to analyze financial statements that would later be used.
MSF 6121 - Fixed Income and Securities
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This class provides an introduction to fixed income markets. Topics include the price/yield relation, no-arbitrage pricing of stripped coupon bonds, the duration/convexity approximation, the term structure of interest rates, defaultable bonds, mortgage-backed securities, inflation protected securities, bonds with embedded options, swap rates, the Fed Funds rate, repurchase agreements, and attribution analysis. prereq: Fall A Cohort Completion
MSF 6221 - Finance I: Risk, Return, and Value
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Summer
This course is the first course in a three-course sequence to introduce the ideas of corporate finance. This course will focus on an overview of corporate finance in the firm, the valuation principle, the time value of money, interest rates, valuing bonds, risk and return, and estimating the cost of capital.
MSF 6222 - Finance II: Cash Flows, Managerial Decisions, and Project Valuation
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course is the second course in a three-course sequence to introduce the ideas of corporate finance. Section I will introduce capital budgeting. Students will use the cost of capital learned at the end of the first course in conjunction with an introduction to the calculation of cash flows and the use of decision rules for project selection. Section II will move into stock valuation and company valuation based upon the dividend discount model and enterprise model of valuation; students will also be exposed to other valuation methods. Section III will introduce the effect of capital structure on company valuation, starting with perfect markets and introducing the opposing effects of taxation and financial distress on valuation. Students will complete a case to demonstrate understanding of the core concepts from the first three sections; the case is a continuing case with each week building on the prior week's work. Section IV will provide an introduction to financial options and option valuation.
MSF 6223 - Corporate and Entrepreneurial Finance
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course is the last of a three-course sequence that introduces the ideas of corporate finance. It focuses on the three major decisions of a firm: the financing decision, the capital structure decision, and the payout decision. There is also an introduction to corporate valuation. This course uses a balanced mix of lectures and case studies, and emphasizes the use of real world data. prereq: Summer Cohort Completion
MSF 6321 - Quantitative Portfolio Analysis
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course develops and examines models for portfolio decisions by investors and the pricing of securities in capital markets. We will develop portfolio theory along the way and also study the extensive empirical work that characterizes movements in security prices and evaluates alternative asset pricing models. Topics include the mean variance portfolio analysis, the capital asset pricing model, arbitrage pricing theory, the empirical performance of asset pricing model (market anomalies), multi-factor asset pricing models, time varying risk and returns, and portfolio performance evaluation, including style and attribution analysis. Extensive use of the computer will be required. prereq: Fall A Cohort Completion
MSF 6322 - Corporate Valuation and Modeling
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course develops the financial modeling principles and tools needed to build, operate, and understand the standard business performance, M&A, equity, and credit models that have become central to modern financial decision making. The course develops a deep understanding of financial models so they can be used to analyze a wide range of financial issues. Finance concepts introduced in other courses are reinforced by having students build them into models and by having students interpret the results produced by those models. Students build a financial model on their own, learn to use a fully developed financial model and use models repeatedly to evaluate and plan performance, to estimate value added from projects, operating strategies and financing proposals and to estimate the value of securities. This course extensively uses VBA macros, sensitivity tables and scenario analyses. prereq: Fall A Cohort Completion
MSF 6421 - Computing for Finance: Excel/VBA I & II
Credits: 2.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Summer
This course first introduces students to specific software (e.g., Excel VBA, ModelRisk Monte Carlo simulator) and databases (e.g., Bloomberg, Factset, CRSP, Compustat) that will be used throughout the MS program. It then focuses on the use of Excel for many topics in finance, including modern portfolio theory, optimal portfolio analysis and binomial option pricing. This course often takes the material being learned in the "Fundamentals of Finance" course to motivate specific examples.
MSF 6422 - Financial Econometrics and Computational Methods I
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course provides an introduction to the methods used in empirical finance. A review of statistics is followed by intensive instruction on matrix algebra that culminates in a fundamental understanding of linear regression, the basic empirical tool. Asset pricing theories are discussed and developed and then methods are derived to test them. The course will emphasize estimation and inference using computer-based applications. prereq: Summer Cohort Completion
MSF 6522 - Derivatives and Risk Management
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This class provides an introduction to derivatives markets. This course is designed to achieve two main objectives. First, provide students with a rigorous framework used in valuing derivative contracts. This will include an in-depth treatment on the two work horses of the binomial model and the Black-Sholes-Merton model. Second, apply the framework to understand a wide variety of issues related to risk management and investment decisions. prereq: Fall A Cohort Completion
MSF 6621 - Finance within the Macroeconomy
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course is intended to provide you with an understanding of modern macroeconomics. We are particularly interest in how financial markets and institutions fit into the overall macro system. By the time that the term is over you will have a much stronger sense of the ongoing macroeconomic news and policy discussion. Having a sense of this material is often helpful in job interviews as well. prereq: Fall A Cohort Completion
MSF 6921 - Introduction to Python
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Summer
This course is focused on analyzing economic and financial data using Python. You will learn how to access powerful and popular libraries for data access, analysis, and visualization. We will spend most of our class time completing practical, hands-on exercises.
MBA 6501 - Carlson Funds Enterprise: Growth
Credits: 1.0 -4.0 [max 12.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Experiential Learning: students integrate finance skills by managing an institutional equity portfolio. Sustainable finance, financial modeling, portfolio management, and presentations to clients / investment professionals are all critical skills developed in this course. prereq: MBA or Mgmt Sci MBA student; program approval
MBA 6502 - Carlson Funds Enterprise: Fixed Income
Credits: 1.0 -4.0 [max 12.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Experiential Learning: students integrate finance skills by managing an institutional bond portfolio. Sustainable finance, financial modeling, portfolio management, and presentations to clients / investment professionals are all critical skills developed in this course. prereq: MBA or Mgmt Sci MBA student; program approval
MSF 6821 - Experiential Learning
Credits: 4.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course is the first half of the experiential learning segment of this program. Students will be partitioned into groups to investigate a particular project. The students will identify the most crucial issues associated with the project, collect the necessary data that will be used to analyze the issue at hand, and determine the quantitative tools that will be required to analyze the relevant issues. prereq: completion of Fall Cohort.
ACCT 5141 - Financial-Data Analytics
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
This is a 2-credit introductory course on financial reporting data analytics for Carlson students. The main learning objective is to introduce students specializing in business (accounting, auditing, tax, finance, marketing, operations, etc.) to data analytics, providing them the necessary knowledge and tools needed to effectively use data analytics in their specialized domain. The goal is thus for students to be able to consume and use available data analytics technologies to complement existing technical skills, rather than to train "data analytics specialists" (although this class is a good jumping-off point for students who wish to pursue a career specializing in data analytics!). Prior coding experience is thus not required, although students should have completed business statistics (SCO 2550 or BA 2551 or equivalent statistics course). After a general overview of data analytics and machine learning, we will dive into the ETL (extract, transform, load) process, covering topics and showcasing applications such as data joins, variable types, formulas, and regular expressions. We will then explore data visualization tools (including pivot tables and dashboards) and conclude the term by modeling data to create business insights via predictions. Students will gain hands-on experience using state-of-the-art data analytics tools and will learn how to conduct basic SQL queries. Students will improve their quantitative and problem-solving skills and learn how to apply scientific research methods to answer questions, present solutions, and discuss limitations. An emphasis will be placed on financial reporting datasets/applications, although the methods and concepts covered are applicable to other business settings/functions. Ultimately, students will enhance their analytical skills and achieve a deeper understanding of issues related to financial reporting specifically and business more generally. prereq: SCO 2550 or BA 2551 or equivalent statistics course and Acct 2050 or 2051
ACCT 5161 - Financial Statement Analysis
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Interpretation/analysis of financial statements. Introduces basic techniques of financial statement analysis and applies them in different settings (e.g., in investment/credit decisions). prereq: [5101]
APEC 5831 - Food and Agribusiness Marketplace
Credits: 2.0 -3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
This is a graduate student survey course of the industrial organization and current policy issues in the food and agribusiness marketplace. It represents a collaboration between the College of Food, Agricultural, and Natural Resource Sciences and the Carlson School of Management. The course uses short readings and speakers. A comprehensive look at all of the sectors in the food and agribusiness value chain is described. Topics include food policies (Farm Bills, food stamps, food labeling, and similar topics); environmental policies (water, invasive species, agriculture production and similar topics); and industrial organization issues (marketing and production contracts, overview of firm strategic orientation, distribution and similar topics). Readings, guest speakers, and presentations are used. prereq: graduate student
FINA 6111 - Financing over a Firm?s Lifecycle
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
All companies?from small startups to large public companies?require funding in order to operate. This course provides an overview of the various sources of financing that a company can access throughout the different stages of its life, including debt and equity financing, Venture Capital, Private Equity, Initial Public Offerings, and others. prereq: MBA 6231 (previously MBA 6230)
FINA 6112 - Private Equity
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Private equity has emerged as an important force in our financial markets. This course will explore current issues and best practices ranging from early-stage financing with angel investors and Venture Capital to late stage ?take-private? transactions such as leveraged buyouts.
FINA 6113 - Public Equity
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Early-stage financing is a critical success factor for growing businesses. This course will explore current issues and best practices for financing with public equity. Topics will include Initial Public Offerings (IPOs), Direct Listings and Special Purpose Acquisition Companies (SPAC), or Blank-check companies.
FINA 6123 - Financial Services Industry
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course gives an overview of the U.S. financial services industry, emphasizing the overall environment, key institutional details, and underlying economic functions. After introducing financial markets and institutions and their functions, we look at the biggest sectors of this industry (banking, insurance, securities dealing, money management, etc.) in more depth. We conclude with a discussion of the impact of "fintech" on this sector.
FINA 6125 - Cryptocurrency, Blockchain, and Their Business Applications
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course discusses cryptocurrencies (including Bitcoin, Ethereum, and others), blockchain, also referred to as distributed ledger technology (DLT), and their applications in various business sectors. The course first explains the history of cryptocurrency, and the fundamentals of blockchain including cryptography and consensus mechanism. Although technical, this part is essential to establish a foundation to understand cryptocurrencies and blockchain. The rest of the course is on the applications of blockchain. We will discuss enterprise blockchain, smart contracts, and token offerings, e.g., initial coin offerings (ICOs) and securities token offering (STOs). We will have industry experts to give guest lectures on the real-world blockchain applications and interact with students. Finally, we will cover the valuation models for crypto assets, the practical details of how to use cryptocurrency, and various investments related to blockchain. The goal of the course is to provide students with a basic set of skills to understand cryptocurrencies and blockchain and how businesses can use them.
FINA 6212 - Working Capital Management
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Cash management is a major factor in the success or failure of a business. Companies often find themselves short on cash even in a time of profitability. Being able to manage a business through the cash cycle is a key factor in business success. This course will explore current issues and best practices for working capital management. Prereq: MBA 6231 (previously MBA 6230)
FINA 6213 - Financial Capital Structure
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
This course focuses on one of the most fundamental corporate finance decisions, the determination of a firm?s financial capital structure, and its impact on firm risk, cost of capital, and firm value. The course also studies corporate bankruptcy and reorganization. Fina 6213 and FINA 6214 can have concurrent enrollment. prereq: MBA 6231 (previously MBA 6230)
FINA 6214 - Business Valuation
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Description: Valuation is at the very core of finance. Valuation is about figuring out what we think an asset is worth to us, while pricing determines how much we pay for the asset. The two are not necessarily the same. This course introduces various methods for the valuation of a business or the equity of the business. FINA 6213 and FINA 6214 can have concurrent enrollment. prereq: MBA 6231 (previously MBA 6230) & FINA 6213
FINA 6215 - The CFO Mindset: Finance, Strategy and Operations
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Corporate governance is about the art and sciences of managing the interests of and the relationships among various corporate stakeholders: equity investors, debt investors, top management, and other employees. prereq: MBA 6231 (previously MBA 6230)
FINA 6222 - Mergers and Acquisitions
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
How corporate managers achieve growth through mergers/acquisitions. Examine buyer/seller motivations in context of M&A transactions/strategic alliances. Private equity, especially in context of corporate M&A transaction. prereq: MBA or Mgmt Sci MBA Student; MBA 6231 (previously MBA 6230), FINA 6241 OR (FINA 6213 & FINA 6214)
FINA 6323 - Advanced Financial Modeling
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
Advanced financial modeling tools to build, estimate, operate, audit, evaluate and understand business performance, and M&A, equity, and credit securities analysis models that have become central to sophisticated financial analysis of all operating businesses, transactions, and securities. How to analyze by way of financial models, screening (data mining) of large financial databases (warehouses). Adding to VBA programming skills required for advanced financial modeling. Prereq: FINA 6322, MBA or Mgmt Sci MBA Student
FINA 6325 - Behavioral Finance
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Psychology/realistic settings that guide/develop alternative theories of financial market. How behavioral finance complements traditional paradigm on investors' trading patterns, behavior of asset prices, corporate finance, various Wall Street institutions/practices. prereq: MBA or Mgmt Sci MBA student
FINA 6511 - Options for Corporate Finance
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course explores financial options from the perspective of a corporation, including what financial options are, how they work, and how they are frequently used to pay employees and managers. Further applications will be explored, including how options can be used as tools to better understand corporate financing and project selection decisions. prereq: MBA 6231 (previously MBA 6230)
FINA 6611 - Finance for Multinationals
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Virtually all companies?from small privately held companies to large public companies?are involved in international trade, even if only sourcing raw materials and components internationally. The advent of robust e-commerce websites has further enabled companies of all sizes to actively participate in international trade. This course explores the nature, purposes, and risks of international trade by multinational companies, and the relevant capital budgeting processes and international financing tools needed to facilitate international trade. Students will gain skills in international investment analysis, capital financing techniques, capital budgeting for international projects, and international trade risk management. Students will examine barriers to international capital flows, and study the financial instruments used to overcome these barriers, focusing on the decisions made by multinational enterprises. Prereq: MBA 6231 (previously MBA 6230)
FINA 6623 - Economic Booms and Busts
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
The purpose of this course is to provide you with an understanding of the world economy through the impact of government policies in the economy. We focuses on using macro and international economics to analyze the world economy and the implications for business management. The course uses lectures and class discussion to familiarize students with macro and international economic tools with a goal of improving managerial decision-making. We focuses on understanding the role of government monetary policies, fiscal policies, trade policies, and exchange rate policy to impact on economy and study the linkage between economic analysis and strategic business management.
IDSC 6051 - Information Technologies and Solutions
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Current/emerging technologies in modern Net-enhanced organizations. Internet/Web technologies, including Internet fundamentals, Web communications, Web 2.0/social media, information security, cloud computing, IT-driven innovation, emerging IT trends.
INS 6205 - Insurance Theory and Practice
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Risk theory is applied to practices in health, liability, life, property, and workers compensation insurance. Insurance marketing, pricing, underwriting, and claims administration, with adverse selection and moral hazard effects. Policy issues of tort versus no-fault compensation systems. Self-insurance and integrated risk financing methods.
MBA 6111 - Organizational Behavior
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Organizational behavior offers a framework for the systematic study of how people behave in organizational settings and involves individual, group, and organizational characteristics that affect people and their behavior at work. In this course we consider how individual workers respond to their job and organization (attitudes and motivation), interpersonal processes and how to make them more effective (decision making, conflict management, teamwork), and the role organizational culture in shaping individual and group behavior. Topics come together as we consider how to effectively lead organizational change. Prior to Fall 2022 the course number was MBA 6110. Prior to Spring 2023 the course name was Leading Others.
MBA 6121 - Data Analysis and Statistics for Managers
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Concepts/ principles of business statistics, data analysis, and presentation of results. Topics: exploratory data analysis and graphics, basic inferential procedures including estimation and hypothesis testing, correlation, bivariate and multiple regression analysis, forecasting and predictive modeling using regression, and introduction to the design of experiments. These methods are selected for their relevance to managerial decision making and problem solving. prereq: MBA or Mgmt Sci MBA student
MBA 6141 - Managerial Economics
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Introduction to some parts of microeconomics that are useful for managers, with attention to the circumstances that give rise to firm profitability. The first half of the course covers supply and demand, price elasticity, and market equilibrium. The second part of the course covers firms with differentiated products and market power, with particular focus on pricing models such as segmentation, bundling, and two part tariffs. Pricing models involve profit maximization and associated conceptual tools. The course touches on game theory and strategic interaction among small numbers of firms and ends with a discussion of market failure and the business opportunities that they sometimes create. The course also emphasizes links to other parts of the core business curriculum. The course makes extensive reference to statistical empirical examples. prereq: MBA or Mgmt Sci MBA student
MBA 6235 - Managerial Accounting
Credits: 2.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Cost systems introduced as potential sources of sustainable competitive advantage. Course focuses on designing cost systems to provide manager with accurate, relevant, and timely information. Taught as part of an integrated functional core. prereq: MBA or Mgmt Sci MBA student
MBA 6315 - The Ethical Environment of Business
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Understanding the ethical environment within which business and managers operate. Focus is on the ethical expectations surrounding organizational activities, firm responsibilities to shareholders and stakeholders, and providing a comprehensive framework for ethical decision-making by individuals. The goal of the class is two-fold. First, to help people in business find a voice and advance a point of view as they go forward with their career. Second, to prepare managers to successfully navigate and manage this critical component of a firm?s competitive environment. prereq: MBA student
MBA 6501 - Carlson Funds Enterprise: Growth
Credits: 1.0 -4.0 [max 12.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Experiential Learning: students integrate finance skills by managing an institutional equity portfolio. Sustainable finance, financial modeling, portfolio management, and presentations to clients / investment professionals are all critical skills developed in this course. prereq: MBA or Mgmt Sci MBA student; program approval
MBA 6502 - Carlson Funds Enterprise: Fixed Income
Credits: 1.0 -4.0 [max 12.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Experiential Learning: students integrate finance skills by managing an institutional bond portfolio. Sustainable finance, financial modeling, portfolio management, and presentations to clients / investment professionals are all critical skills developed in this course. prereq: MBA or Mgmt Sci MBA student; program approval
MGMT 6004 - Negotiation Strategies
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
At its core, negotiation is the art and science of getting what you want in a world of innumerable interests, possibilities, and standards of fairness---a world in which we must often compete or cooperate with others to do anything from picking a restaurant to transforming markets. The objective of this course is to equip students with a simple, ready-to-use framework from which we can prepare for and engage in negotiations. Topics include interest-based bargaining, psychological biases, multiparty negotiations, and hard tactics. Regular cases and exercises reinforce our negotiation framework and provide students a safe forum to thoughtfully reflect on their experiences and improve. prereq: MBA or Mgmt Sci MBA student
MGMT 6034 - Strategic Leadership
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Spring
Role of leadership in making strategy a reality while maintaining learning/adaptive organization capable of meeting competitive challenges. Students prepare project set in an organization. Advanced materials, complex cases. prereq: MBA or Mgmt Sci MBA student
MGMT 6084 - Management of Teams
Credits: 2.0 [max 2.0]
Course Equivalencies: HRIR 6484/Mgmt 6084
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Factors that influence performance and well-being of groups in organizations. Group dynamics, norms, culture, structure, leadership, decision-making, and problem-solving. Managing dynamics, learning, performance, and creativity of groups. Intergroup relations, incentives, and effect of environment.
MGMT 6465 - Leadership and Personal Development
Credits: 2.0 [max 2.0]
Course Equivalencies: HRIR 6025/Mgmt 6465
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Understanding effective leadership. Identifying personal leadership strengths/vulnerabilities through feedback. Developing leadership skills through practice as informed by theory/evidence. Exercises, role play. Creating customized leadership development plan. prereq: CSOM Grad student or dept consent
MILI 6235 - Pharmaceutical Industry: Business and Policy
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Business/policy issues specific to pharmaceutical industry. Interdisciplinary perspectives, active involvement by industry leaders.
MILI 6562 - Information Technology in Health Care
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
Theoretical/conceptual base for health care information technology. Applications of current/developing health IT. Approaches to evaluate effectiveness of health IT systems. Information technology, computer technology, and data structures commonly found in health care information systems. Information system design/evaluation. prereq: MBA student
MILI 6589 - Medical Technology Evaluation and Market Research
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course aims to provide knowledge of the skills, data, and methodology required to critically evaluate new medical technologies in order to meet financial investment as well as regulatory compliance objectives, such as FDA approval. The course is designed to provide an introduction to the analytic tool kit needed to critically evaluate new medical technology, such as cost-benefit analysis, cost effectiveness analysis as well as other decision-analytic models and markov-models.
MILI 6726 - Medical Device Industry: Business and Public Policy
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course, with the insight of industry leaders, addresses public-private sector interactions and the business, public policy, regulatory, and technology management issues that concern medical device and biotechnology companies.
MILI 6920 - MILI Topic Course
Credits: 2.0 [max 8.0]
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Discussion and analysis of current topics and developments in the medical industry.
MILI 6963 - Healthcare Analytics
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course prepares students to analyze large health care databases with a focus on advanced applications with health insurance claims data. The course is designed to be a STEM offering with the use of statistical programming languages including R, Tableau, and SAS. This course is designed to appeal to students with an interest in developing data science as a core skill and already have knowledge of some programming tools, and experience with data manipulation in Excel, SQL, or Access. The course utilizes a novel synthetic health insurance claims database representing 300 million covered lives of the major private and publicly insured insured populations in the United States. Major topics include market sizing, actuarial projection, quality of care metrics, and national health account calculation.
MILI 6985 - The Health Care Marketplace
Credits: 2.0 [max 2.0]
Course Equivalencies: MILI 5990/6990/3585/5585
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Survey of trillion dollar medical industry. Physician/hospital services, insurance, pharmaceuticals, medical devices, information technology. Scale, interactions, inter-relationships, market opportunities, barriers. prereq: MBA student
MILI 6995 - Medical Industry Valuation Laboratory
Credits: 2.0 [max 6.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Interdisciplinary student teams create rapid production market analysis of promising medical technologies/services to determine potential for success in market. Exposure to University innovations, venture firms, inventors. prereq: Grad student
MSF 6423 - Financial Econometrics and Computational Methods II
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course builds on Financial Econometrics I and provides instruction on the econometrics used in empirical finance. Topics will include time series analysis, parametric models of volatility, evaluation of asset pricing theories, and models for risk management. The course will emphasize estimation and inference using computer-based applications. prereq: Fall A Cohort Completion
MSF 6424 - Introduction to Machine Learning for Finance
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Machine learning methods are now widely used in finance. This class covers fundamental methods. Particular attention will be devoted to the use in asset pricing and credit assessment. A real project has several steps: 1) data collection, 2) data management, 3) exploratory data analysis, 4) learning and predicting, 5) communicating results. The lectures focus on techniques for step 4. The homework provides hands-on practice including the other steps.
MSF 6031 - Financial Accounting
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Summer
This course provides students with a deep understanding of financial accounting fundamentals so that they can make decisions based on reported financials. Students will learn how a firm's operating activities, its investments, and financing transactions are recorded in the income statement, balance sheet, and statement of cash flows. Students will develop some skills needed to analyze financial statements that would later be used.
MSF 6221 - Finance I: Risk, Return, and Value
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Summer
This course is the first course in a three-course sequence to introduce the ideas of corporate finance. This course will focus on an overview of corporate finance in the firm, the valuation principle, the time value of money, interest rates, valuing bonds, risk and return, and estimating the cost of capital.
MSF 6222 - Finance II: Cash Flows, Managerial Decisions, and Project Valuation
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course is the second course in a three-course sequence to introduce the ideas of corporate finance. Section I will introduce capital budgeting. Students will use the cost of capital learned at the end of the first course in conjunction with an introduction to the calculation of cash flows and the use of decision rules for project selection. Section II will move into stock valuation and company valuation based upon the dividend discount model and enterprise model of valuation; students will also be exposed to other valuation methods. Section III will introduce the effect of capital structure on company valuation, starting with perfect markets and introducing the opposing effects of taxation and financial distress on valuation. Students will complete a case to demonstrate understanding of the core concepts from the first three sections; the case is a continuing case with each week building on the prior week's work. Section IV will provide an introduction to financial options and option valuation.
MSF 6223 - Corporate and Entrepreneurial Finance
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course is the last of a three-course sequence that introduces the ideas of corporate finance. It focuses on the three major decisions of a firm: the financing decision, the capital structure decision, and the payout decision. There is also an introduction to corporate valuation. This course uses a balanced mix of lectures and case studies, and emphasizes the use of real world data. prereq: Summer Cohort Completion
MSF 6421 - Computing for Finance: Excel/VBA I & II
Credits: 2.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Summer
This course first introduces students to specific software (e.g., Excel VBA, ModelRisk Monte Carlo simulator) and databases (e.g., Bloomberg, Factset, CRSP, Compustat) that will be used throughout the MS program. It then focuses on the use of Excel for many topics in finance, including modern portfolio theory, optimal portfolio analysis and binomial option pricing. This course often takes the material being learned in the "Fundamentals of Finance" course to motivate specific examples.
MSF 6422 - Financial Econometrics and Computational Methods I
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course provides an introduction to the methods used in empirical finance. A review of statistics is followed by intensive instruction on matrix algebra that culminates in a fundamental understanding of linear regression, the basic empirical tool. Asset pricing theories are discussed and developed and then methods are derived to test them. The course will emphasize estimation and inference using computer-based applications. prereq: Summer Cohort Completion
MSF 6621 - Finance within the Macroeconomy
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course is intended to provide you with an understanding of modern macroeconomics. We are particularly interest in how financial markets and institutions fit into the overall macro system. By the time that the term is over you will have a much stronger sense of the ongoing macroeconomic news and policy discussion. Having a sense of this material is often helpful in job interviews as well. prereq: Fall A Cohort Completion
MSF 6921 - Introduction to Python
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Summer
This course is focused on analyzing economic and financial data using Python. You will learn how to access powerful and popular libraries for data access, analysis, and visualization. We will spend most of our class time completing practical, hands-on exercises.
MSF 6121 - Fixed Income and Securities
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This class provides an introduction to fixed income markets. Topics include the price/yield relation, no-arbitrage pricing of stripped coupon bonds, the duration/convexity approximation, the term structure of interest rates, defaultable bonds, mortgage-backed securities, inflation protected securities, bonds with embedded options, swap rates, the Fed Funds rate, repurchase agreements, and attribution analysis. prereq: Fall A Cohort Completion
MSF 6321 - Quantitative Portfolio Analysis
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course develops and examines models for portfolio decisions by investors and the pricing of securities in capital markets. We will develop portfolio theory along the way and also study the extensive empirical work that characterizes movements in security prices and evaluates alternative asset pricing models. Topics include the mean variance portfolio analysis, the capital asset pricing model, arbitrage pricing theory, the empirical performance of asset pricing model (market anomalies), multi-factor asset pricing models, time varying risk and returns, and portfolio performance evaluation, including style and attribution analysis. Extensive use of the computer will be required. prereq: Fall A Cohort Completion
MSF 6522 - Derivatives and Risk Management
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This class provides an introduction to derivatives markets. This course is designed to achieve two main objectives. First, provide students with a rigorous framework used in valuing derivative contracts. This will include an in-depth treatment on the two work horses of the binomial model and the Black-Sholes-Merton model. Second, apply the framework to understand a wide variety of issues related to risk management and investment decisions. prereq: Fall A Cohort Completion
FINA 8802 - Theory of Capital Markets I: Discrete Time
Credits: 2.0 [max 2.0]
Typically offered: Every Fall
Modern asset pricing theory. Static/discrete time frameworks. Fundamental asset pricing equation. Classical finance models: CAPM, consumption-based CAPM, Complete markets, representative agent, Pareto prereq: [Econ 8101, Econ 8102, business admin PhD student] or instr consent
FINA 8812 - Corporate Finance I
Credits: 2.0 [max 2.0]
Typically offered: Every Fall & Spring
Corporate control, managerial incentives, corporate governance, capital structure. What assets are collected within firm. What determines boundaries of firm. Empirical evidence in support of theoretical models. Modern theories of firm, based on incomplete contracts. How corporate finance decisions expand/limit scope of firm. prereq: [Econ 8103, Econ 8104, business admin PhD student] or instr consent
FINA 8813 - Corporate Finance II
Credits: 2.0 [max 2.0]
Typically offered: Every Fall & Spring
Theoretical corporate finance. Initial public offering, dividend policy. Financial distress and its resolution. Financial intermediation, applications of auctions in finance. prereq: [8812, business admin PhD student] or instr consent
FINA 8822 - Empirical Methods in Finance
Credits: 2.0 [max 2.0]
Typically offered: Every Spring
Empirical techniques in analysis of financial markets, how they are applied to actual market data. Statistical properties of asset returns, efficient markets hypothesis. Empirical tests of asset pricing models (CAPM, APT, Intertemporal CAPM, Consumption CAPM). Tests of conditional asset pricing models. prereq: 8802, 8803
MSF 6821 - Experiential Learning
Credits: 4.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course is the first half of the experiential learning segment of this program. Students will be partitioned into groups to investigate a particular project. The students will identify the most crucial issues associated with the project, collect the necessary data that will be used to analyze the issue at hand, and determine the quantitative tools that will be required to analyze the relevant issues. prereq: completion of Fall Cohort.
ACCT 5141 - Financial-Data Analytics
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
This is a 2-credit introductory course on financial reporting data analytics for Carlson students. The main learning objective is to introduce students specializing in business (accounting, auditing, tax, finance, marketing, operations, etc.) to data analytics, providing them the necessary knowledge and tools needed to effectively use data analytics in their specialized domain. The goal is thus for students to be able to consume and use available data analytics technologies to complement existing technical skills, rather than to train "data analytics specialists" (although this class is a good jumping-off point for students who wish to pursue a career specializing in data analytics!). Prior coding experience is thus not required, although students should have completed business statistics (SCO 2550 or BA 2551 or equivalent statistics course). After a general overview of data analytics and machine learning, we will dive into the ETL (extract, transform, load) process, covering topics and showcasing applications such as data joins, variable types, formulas, and regular expressions. We will then explore data visualization tools (including pivot tables and dashboards) and conclude the term by modeling data to create business insights via predictions. Students will gain hands-on experience using state-of-the-art data analytics tools and will learn how to conduct basic SQL queries. Students will improve their quantitative and problem-solving skills and learn how to apply scientific research methods to answer questions, present solutions, and discuss limitations. An emphasis will be placed on financial reporting datasets/applications, although the methods and concepts covered are applicable to other business settings/functions. Ultimately, students will enhance their analytical skills and achieve a deeper understanding of issues related to financial reporting specifically and business more generally. prereq: SCO 2550 or BA 2551 or equivalent statistics course and Acct 2050 or 2051
ACCT 5161 - Financial Statement Analysis
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Interpretation/analysis of financial statements. Introduces basic techniques of financial statement analysis and applies them in different settings (e.g., in investment/credit decisions). prereq: [5101]
APEC 5831 - Food and Agribusiness Marketplace
Credits: 2.0 -3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
This is a graduate student survey course of the industrial organization and current policy issues in the food and agribusiness marketplace. It represents a collaboration between the College of Food, Agricultural, and Natural Resource Sciences and the Carlson School of Management. The course uses short readings and speakers. A comprehensive look at all of the sectors in the food and agribusiness value chain is described. Topics include food policies (Farm Bills, food stamps, food labeling, and similar topics); environmental policies (water, invasive species, agriculture production and similar topics); and industrial organization issues (marketing and production contracts, overview of firm strategic orientation, distribution and similar topics). Readings, guest speakers, and presentations are used. prereq: graduate student
FINA 6111 - Financing over a Firm?s Lifecycle
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
All companies?from small startups to large public companies?require funding in order to operate. This course provides an overview of the various sources of financing that a company can access throughout the different stages of its life, including debt and equity financing, Venture Capital, Private Equity, Initial Public Offerings, and others. prereq: MBA 6231 (previously MBA 6230)
FINA 6112 - Private Equity
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Private equity has emerged as an important force in our financial markets. This course will explore current issues and best practices ranging from early-stage financing with angel investors and Venture Capital to late stage ?take-private? transactions such as leveraged buyouts.
FINA 6113 - Public Equity
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Early-stage financing is a critical success factor for growing businesses. This course will explore current issues and best practices for financing with public equity. Topics will include Initial Public Offerings (IPOs), Direct Listings and Special Purpose Acquisition Companies (SPAC), or Blank-check companies.
FINA 6123 - Financial Services Industry
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course gives an overview of the U.S. financial services industry, emphasizing the overall environment, key institutional details, and underlying economic functions. After introducing financial markets and institutions and their functions, we look at the biggest sectors of this industry (banking, insurance, securities dealing, money management, etc.) in more depth. We conclude with a discussion of the impact of "fintech" on this sector.
FINA 6125 - Cryptocurrency, Blockchain, and Their Business Applications
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course discusses cryptocurrencies (including Bitcoin, Ethereum, and others), blockchain, also referred to as distributed ledger technology (DLT), and their applications in various business sectors. The course first explains the history of cryptocurrency, and the fundamentals of blockchain including cryptography and consensus mechanism. Although technical, this part is essential to establish a foundation to understand cryptocurrencies and blockchain. The rest of the course is on the applications of blockchain. We will discuss enterprise blockchain, smart contracts, and token offerings, e.g., initial coin offerings (ICOs) and securities token offering (STOs). We will have industry experts to give guest lectures on the real-world blockchain applications and interact with students. Finally, we will cover the valuation models for crypto assets, the practical details of how to use cryptocurrency, and various investments related to blockchain. The goal of the course is to provide students with a basic set of skills to understand cryptocurrencies and blockchain and how businesses can use them.
FINA 6212 - Working Capital Management
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Cash management is a major factor in the success or failure of a business. Companies often find themselves short on cash even in a time of profitability. Being able to manage a business through the cash cycle is a key factor in business success. This course will explore current issues and best practices for working capital management. Prereq: MBA 6231 (previously MBA 6230)
FINA 6213 - Financial Capital Structure
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
This course focuses on one of the most fundamental corporate finance decisions, the determination of a firm?s financial capital structure, and its impact on firm risk, cost of capital, and firm value. The course also studies corporate bankruptcy and reorganization. Fina 6213 and FINA 6214 can have concurrent enrollment. prereq: MBA 6231 (previously MBA 6230)
FINA 6214 - Business Valuation
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Description: Valuation is at the very core of finance. Valuation is about figuring out what we think an asset is worth to us, while pricing determines how much we pay for the asset. The two are not necessarily the same. This course introduces various methods for the valuation of a business or the equity of the business. FINA 6213 and FINA 6214 can have concurrent enrollment. prereq: MBA 6231 (previously MBA 6230) & FINA 6213
FINA 6215 - The CFO Mindset: Finance, Strategy and Operations
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Corporate governance is about the art and sciences of managing the interests of and the relationships among various corporate stakeholders: equity investors, debt investors, top management, and other employees. prereq: MBA 6231 (previously MBA 6230)
FINA 6222 - Mergers and Acquisitions
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
How corporate managers achieve growth through mergers/acquisitions. Examine buyer/seller motivations in context of M&A transactions/strategic alliances. Private equity, especially in context of corporate M&A transaction. prereq: MBA or Mgmt Sci MBA Student; MBA 6231 (previously MBA 6230), FINA 6241 OR (FINA 6213 & FINA 6214)
FINA 6323 - Advanced Financial Modeling
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
Advanced financial modeling tools to build, estimate, operate, audit, evaluate and understand business performance, and M&A, equity, and credit securities analysis models that have become central to sophisticated financial analysis of all operating businesses, transactions, and securities. How to analyze by way of financial models, screening (data mining) of large financial databases (warehouses). Adding to VBA programming skills required for advanced financial modeling. Prereq: FINA 6322, MBA or Mgmt Sci MBA Student
FINA 6325 - Behavioral Finance
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Psychology/realistic settings that guide/develop alternative theories of financial market. How behavioral finance complements traditional paradigm on investors' trading patterns, behavior of asset prices, corporate finance, various Wall Street institutions/practices. prereq: MBA or Mgmt Sci MBA student
FINA 6511 - Options for Corporate Finance
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course explores financial options from the perspective of a corporation, including what financial options are, how they work, and how they are frequently used to pay employees and managers. Further applications will be explored, including how options can be used as tools to better understand corporate financing and project selection decisions. prereq: MBA 6231 (previously MBA 6230)
FINA 6611 - Finance for Multinationals
Credits: 1.0 [max 1.0]
Grading Basis: A-F only
Typically offered: Every Spring
Virtually all companies?from small privately held companies to large public companies?are involved in international trade, even if only sourcing raw materials and components internationally. The advent of robust e-commerce websites has further enabled companies of all sizes to actively participate in international trade. This course explores the nature, purposes, and risks of international trade by multinational companies, and the relevant capital budgeting processes and international financing tools needed to facilitate international trade. Students will gain skills in international investment analysis, capital financing techniques, capital budgeting for international projects, and international trade risk management. Students will examine barriers to international capital flows, and study the financial instruments used to overcome these barriers, focusing on the decisions made by multinational enterprises. Prereq: MBA 6231 (previously MBA 6230)
FINA 6623 - Economic Booms and Busts
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
The purpose of this course is to provide you with an understanding of the world economy through the impact of government policies in the economy. We focuses on using macro and international economics to analyze the world economy and the implications for business management. The course uses lectures and class discussion to familiarize students with macro and international economic tools with a goal of improving managerial decision-making. We focuses on understanding the role of government monetary policies, fiscal policies, trade policies, and exchange rate policy to impact on economy and study the linkage between economic analysis and strategic business management.
IDSC 6051 - Information Technologies and Solutions
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Current/emerging technologies in modern Net-enhanced organizations. Internet/Web technologies, including Internet fundamentals, Web communications, Web 2.0/social media, information security, cloud computing, IT-driven innovation, emerging IT trends.
INS 6205 - Insurance Theory and Practice
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Risk theory is applied to practices in health, liability, life, property, and workers compensation insurance. Insurance marketing, pricing, underwriting, and claims administration, with adverse selection and moral hazard effects. Policy issues of tort versus no-fault compensation systems. Self-insurance and integrated risk financing methods.
MBA 6111 - Organizational Behavior
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Organizational behavior offers a framework for the systematic study of how people behave in organizational settings and involves individual, group, and organizational characteristics that affect people and their behavior at work. In this course we consider how individual workers respond to their job and organization (attitudes and motivation), interpersonal processes and how to make them more effective (decision making, conflict management, teamwork), and the role organizational culture in shaping individual and group behavior. Topics come together as we consider how to effectively lead organizational change. Prior to Fall 2022 the course number was MBA 6110. Prior to Spring 2023 the course name was Leading Others.
MBA 6121 - Data Analysis and Statistics for Managers
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Concepts/ principles of business statistics, data analysis, and presentation of results. Topics: exploratory data analysis and graphics, basic inferential procedures including estimation and hypothesis testing, correlation, bivariate and multiple regression analysis, forecasting and predictive modeling using regression, and introduction to the design of experiments. These methods are selected for their relevance to managerial decision making and problem solving. prereq: MBA or Mgmt Sci MBA student
MBA 6141 - Managerial Economics
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Introduction to some parts of microeconomics that are useful for managers, with attention to the circumstances that give rise to firm profitability. The first half of the course covers supply and demand, price elasticity, and market equilibrium. The second part of the course covers firms with differentiated products and market power, with particular focus on pricing models such as segmentation, bundling, and two part tariffs. Pricing models involve profit maximization and associated conceptual tools. The course touches on game theory and strategic interaction among small numbers of firms and ends with a discussion of market failure and the business opportunities that they sometimes create. The course also emphasizes links to other parts of the core business curriculum. The course makes extensive reference to statistical empirical examples. prereq: MBA or Mgmt Sci MBA student
MBA 6235 - Managerial Accounting
Credits: 2.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Cost systems introduced as potential sources of sustainable competitive advantage. Course focuses on designing cost systems to provide manager with accurate, relevant, and timely information. Taught as part of an integrated functional core. prereq: MBA or Mgmt Sci MBA student
MBA 6315 - The Ethical Environment of Business
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Understanding the ethical environment within which business and managers operate. Focus is on the ethical expectations surrounding organizational activities, firm responsibilities to shareholders and stakeholders, and providing a comprehensive framework for ethical decision-making by individuals. The goal of the class is two-fold. First, to help people in business find a voice and advance a point of view as they go forward with their career. Second, to prepare managers to successfully navigate and manage this critical component of a firm?s competitive environment. prereq: MBA student
MBA 6501 - Carlson Funds Enterprise: Growth
Credits: 1.0 -4.0 [max 12.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Experiential Learning: students integrate finance skills by managing an institutional equity portfolio. Sustainable finance, financial modeling, portfolio management, and presentations to clients / investment professionals are all critical skills developed in this course. prereq: MBA or Mgmt Sci MBA student; program approval
MBA 6502 - Carlson Funds Enterprise: Fixed Income
Credits: 1.0 -4.0 [max 12.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Experiential Learning: students integrate finance skills by managing an institutional bond portfolio. Sustainable finance, financial modeling, portfolio management, and presentations to clients / investment professionals are all critical skills developed in this course. prereq: MBA or Mgmt Sci MBA student; program approval
MGMT 6004 - Negotiation Strategies
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
At its core, negotiation is the art and science of getting what you want in a world of innumerable interests, possibilities, and standards of fairness---a world in which we must often compete or cooperate with others to do anything from picking a restaurant to transforming markets. The objective of this course is to equip students with a simple, ready-to-use framework from which we can prepare for and engage in negotiations. Topics include interest-based bargaining, psychological biases, multiparty negotiations, and hard tactics. Regular cases and exercises reinforce our negotiation framework and provide students a safe forum to thoughtfully reflect on their experiences and improve. prereq: MBA or Mgmt Sci MBA student
MGMT 6034 - Strategic Leadership
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Periodic Spring
Role of leadership in making strategy a reality while maintaining learning/adaptive organization capable of meeting competitive challenges. Students prepare project set in an organization. Advanced materials, complex cases. prereq: MBA or Mgmt Sci MBA student
MGMT 6084 - Management of Teams
Credits: 2.0 [max 2.0]
Course Equivalencies: HRIR 6484/Mgmt 6084
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Factors that influence performance and well-being of groups in organizations. Group dynamics, norms, culture, structure, leadership, decision-making, and problem-solving. Managing dynamics, learning, performance, and creativity of groups. Intergroup relations, incentives, and effect of environment.
MGMT 6465 - Leadership and Personal Development
Credits: 2.0 [max 2.0]
Course Equivalencies: HRIR 6025/Mgmt 6465
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Understanding effective leadership. Identifying personal leadership strengths/vulnerabilities through feedback. Developing leadership skills through practice as informed by theory/evidence. Exercises, role play. Creating customized leadership development plan. prereq: CSOM Grad student or dept consent
MILI 6235 - Pharmaceutical Industry: Business and Policy
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Business/policy issues specific to pharmaceutical industry. Interdisciplinary perspectives, active involvement by industry leaders.
MILI 6562 - Information Technology in Health Care
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
Theoretical/conceptual base for health care information technology. Applications of current/developing health IT. Approaches to evaluate effectiveness of health IT systems. Information technology, computer technology, and data structures commonly found in health care information systems. Information system design/evaluation. prereq: MBA student
MILI 6589 - Medical Technology Evaluation and Market Research
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course aims to provide knowledge of the skills, data, and methodology required to critically evaluate new medical technologies in order to meet financial investment as well as regulatory compliance objectives, such as FDA approval. The course is designed to provide an introduction to the analytic tool kit needed to critically evaluate new medical technology, such as cost-benefit analysis, cost effectiveness analysis as well as other decision-analytic models and markov-models.
MILI 6726 - Medical Device Industry: Business and Public Policy
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course, with the insight of industry leaders, addresses public-private sector interactions and the business, public policy, regulatory, and technology management issues that concern medical device and biotechnology companies.
MILI 6920 - MILI Topic Course
Credits: 2.0 [max 8.0]
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Discussion and analysis of current topics and developments in the medical industry.
MILI 6963 - Healthcare Analytics
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
This course prepares students to analyze large health care databases with a focus on advanced applications with health insurance claims data. The course is designed to be a STEM offering with the use of statistical programming languages including R, Tableau, and SAS. This course is designed to appeal to students with an interest in developing data science as a core skill and already have knowledge of some programming tools, and experience with data manipulation in Excel, SQL, or Access. The course utilizes a novel synthetic health insurance claims database representing 300 million covered lives of the major private and publicly insured insured populations in the United States. Major topics include market sizing, actuarial projection, quality of care metrics, and national health account calculation.
MILI 6985 - The Health Care Marketplace
Credits: 2.0 [max 2.0]
Course Equivalencies: MILI 5990/6990/3585/5585
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Survey of trillion dollar medical industry. Physician/hospital services, insurance, pharmaceuticals, medical devices, information technology. Scale, interactions, inter-relationships, market opportunities, barriers. prereq: MBA student
MILI 6995 - Medical Industry Valuation Laboratory
Credits: 2.0 [max 6.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Interdisciplinary student teams create rapid production market analysis of promising medical technologies/services to determine potential for success in market. Exposure to University innovations, venture firms, inventors. prereq: Grad student
MSF 6423 - Financial Econometrics and Computational Methods II
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
This course builds on Financial Econometrics I and provides instruction on the econometrics used in empirical finance. Topics will include time series analysis, parametric models of volatility, evaluation of asset pricing theories, and models for risk management. The course will emphasize estimation and inference using computer-based applications. prereq: Fall A Cohort Completion
MSF 6424 - Introduction to Machine Learning for Finance
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Machine learning methods are now widely used in finance. This class covers fundamental methods. Particular attention will be devoted to the use in asset pricing and credit assessment. A real project has several steps: 1) data collection, 2) data management, 3) exploratory data analysis, 4) learning and predicting, 5) communicating results. The lectures focus on techniques for step 4. The homework provides hands-on practice including the other steps.