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FIFinance

320 Introduction to Finance 414 Advanced Business Finance (W)


FINANCE FI Fall, Spring. 3(3-0) R: Open to students in Fall, Spring, Summer. 3(3-0) P: Completion
the James Madison College or in the Ap- of Tier I Writing Requirement and FI 311
parel and Textiles major or in the Applied and (FI 312 or FI 321) R: Open to seniors in
Department of Finance Engineering Sciences major or in the Com- the Eli Broad College of Business and The
Eli Broad College of Business puter Science major or in the Construction Eli Broad Graduate School of Management.
and The Eli Broad Graduate Management major or in the Economics ma- Advanced financial management of business firms.
jor or in the Food Industry Management ma- Theoretical analysis and case applications. Capital
School of Management jor or in the Interdisciplinary Studies in So- budgeting, capital structure, valuation, risk man-
cial Science major or in the Media and In- agement, mergers, and corporate restructuring.
293 Cooperative Education for Business formation major or in the Media and Com-
Students munication Technology major or in the Me- 425 Law and Economics (W)
Fall, Spring. 1(1-0) A student may earn a dia Arts and Technology major or in the Fall. 3(3-0) Interdepartmental with Econom-
maximum of 3 credits in all enrollments for Natural Resource Recreation and Tourism ics. Administered by Economics. P: (EC
this course. Interdepartmental with Account- major or in the Packaging major or in the 251H or EC 301) and Completion of Tier I
ing and Economics and Hospitality Business Retailing major or in the Security Manage- Writing Requirement
and Management and Supply Chain Man- ment Specialization or in the Apparel and Application of economic analysis to the law. Proper-
agement. Administered by Supply Chain Textile Design major. Not open to students ty rights, takings, the Coase Theorem. The econom-
Management. R: Approval of department. with credit in FI 311. ics of regulation, crime and punishments, liability
SA: MSC 293 Overview of finance for the non-business major. law, and public choice.
Integration of pre-professional educational employ- Stocks, bonds, mutual funds, financial statement
ment experiences in industry and government with analysis, capital budgeting, financial planning. 444 Entrepreneurial Finance
knowledge and processes taught in the student's Spring. 3(3-0) P: FI 311 and (MGT 352 or
academic program. Educational employment as- MKT 355) R: Open to juniors or seniors in
signment approved by the Department of Supply 321 Theory of Investments the Eli Broad College of Business and The
Chain Management. Fall, Spring. 3(3-0) P: FI 311 R: Open to Eli Broad Graduate School of Management.
students in the Actuarial Science Specializa- Financing, valuation and sale of entrepreneurial
tion or in the Actuarial Science major or in ventures. Business plans, financing sources, finan-
311 Financial Management the Economics major. Not open to students cial contracting, real options, staged investments,
Fall, Spring, Summer. 3(3-0) P: (ACC 202 or with credit in FI 312. and exit strategies.
ACC 230) and (STT 315 or STT 200 or STT Theoretical analysis of common stocks, bonds,
201 or STT 351 or STT 421 or STT 231 or options and futures. Tradeoff between risk and 451 International Financial Management
STT 441) R: Open to juniors or seniors in return, market efficiency, efficient portfolios and Fall, Spring, Summer. 3(3-0) P: FI 311 R:
the Eli Broad College of Business and The CAPM. Cash flow evaluation and option evaluation. Open to juniors or seniors in the Eli Broad
Eli Broad Graduate School of Management College of Business and The Eli Broad
or in the Actuarial Science Specialization or Graduate School of Management and not
in the Actuarial Science major and not open 379 Advanced Derivatives open to students in the School of Hospitali-
to students in the School of Hospitality Spring. 3(3-0) P: FI 311 R: Open to students ty Business.
Business. Not open to students with credit in in the Actuarial Science Specialization or in Financial management of multinational firms. Theo-
FI 311H. the Actuarial Science major or approval of retical and applied aspects of international capital
Overview of financial management for business department. Not open to students with credit budgeting, capital structure, cash management,
majors. Analysis of financial statements, markets, in FI 478. asset pricing, and risk management. Cross-cultural
and assets. Risk and valuation, corporate budgeting Pricing, trading strategies, hedging applications, and and ethical considerations.
and investment decisions. International and ethical markets for forwards, futures, swaps, and options.
implications. Current events applications. 455 Computer Applications in Financial
Modeling
393 Introduction to International Business Fall, Spring, Summer. 3(3-0) P: (FI 312 or FI
311H Financial Management Fall, Spring, Summer. 3(3-0) Fall: Abroad. 321) and (MKT 317 or STT 422 or STT 442)
Fall. 3(3-0) P: (ACC 202 or ACC 230) and Spring: Abroad. Summer: Abroad. Interde- R: Open to students in the Finance major.
(STT 315 or STT 200 or STT 201 or STT partmental with Accounting and General Development of computer spreadsheet-based mod-
351 or STT 421 or STT 231 or STT 441) R: Business and Business Law and Hospitality els to analyze corporate financial strategies and
Open to juniors or seniors in the Eli Broad Business and Management and Marketing valuation issues.
College of Business and The Eli Broad and Supply Chain Management. Adminis-
Graduate School of Management and not tered by Marketing. R: Open to students in 457 Security Analysis
open to students in the School of Hospitali- the Eli Broad College of Business and The Fall, Spring. 3(3-0) A student may earn a
ty Business. Not open to students with credit Eli Broad Graduate School of Management maximum of 6 credits in all enrollments for
in FI 311. or in the School of Hospitality Business. this course. P: FI 312 R: Not open to stu-
Analysis of financial statements, markets, assets, Introduction to the context of international business dents in the School of Hospitality Business
and liabilities. Risk and valuation, capital budgeting delivered on-site in foreign settings. Fundamental and open to juniors or seniors in the Eli
and investment decisions. International and ethical concepts and principles of globalization such as Broad College of Business and The Eli
implications. Current events and applications. multinational corporations, foreign markets and Broad Graduate School of Management.
economies, internal and external market transac- Approval of department.
tions, international law, cultural influences, and Fundamental analysis of individual stocks. Dis-
312 Introduction to Investments multinational business strategies. counted cash flow valuation, relative valuation,
Fall, Spring, Summer. 3(3-0) P: FI 311 R: special situations. Management of a real-money
Open to juniors or seniors in the Eli Broad stock portfolio, the Michigan State University Stu-
College of Business and The Eli Broad 413 Management of Financial Institutions dent Investment Fund.
Graduate School of Management and not Fall, Spring, Summer. 3(3-0) P: FI 311 R:
open to students in the School of Hospitali- Open to students in the Eli Broad College of 473 Debt and Money Markets
ty Business. Business and The Eli Broad Graduate Fall. 3(3-0) P: FI 311 R: Open to students in
Theoretical and empirical analyses of securities. School of Management. the Eli Broad College of Business and The
Risk and return formation. Security analysis and Management, decision-making and policy formula- Eli Broad Graduate School of Management.
concepts of market efficiency. Common stocks, tion for depository and non-depository financial Role and nature of international debt and money
bonds, options, futures, and mutual funds. institutions emphasizing commercial banking. Sav- markets. Corporate and government bond valua-
ings banks, credit unions and non-bank financial tion, fixed income derivative instruments and bond
institutions including investment banks. portfolio management. Special role of "time" in debt
and money markets.

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FinanceFI

478 Investment Strategies and Speculative 822B Time Series Econometrics II 853 Debt and Money Instruments and
Markets Spring. 3(3-0) Interdepartmental with Agri- Markets
Fall. 3(3-0) P: FI 311 and FI 312 R: Open to cultural Economics and Economics and Sta- Fall. 1 to 3 credits. P: MBA 832 and FI 851
juniors or seniors in the Eli Broad College of tistics and Probability. Administered by Eco- or approval of department R: Open to mas-
Business and The Eli Broad Graduate nomics. P: EC 822A ters students in the Finance major and open
School of Management and not open to stu- Analyses of multivariate time series, time series to MBA students or approval of department.
dents in the School of Hospitality Business. volatility models, long memory, nonlinear time series Fixed-income security markets. Valuation of traded
Pricing, trading strategies, hedging applications, and models, and other advanced topics. instruments.
markets for forwards, futures, swaps, and options.

844 Corporate Financial Strategies 854 Fixed Income Instruments


490 Independent Study Fall. 1 to 3 credits. P: MBA 832 or approval Fall. 1 to 3 credits. P: FI 853 or approval of
Fall, Spring, Summer. 1 to 3 credits. A stu- of department RB: FI 851 or FI 845 R: Open department R: Open to masters students in
dent may earn a maximum of 6 credits in all to MBA students or approval of department. the Finance major and open to MBA stu-
enrollments for this course. R: Open to sen- Applying financial strategies to managerial decision dents.
iors. Approval of department. making. Advanced fixed income security models. Valuation
Supervised independent study of special topics in of instruments traded using derivative securities
finance. pricing.
845 Financial Modeling and Simulation I
Fall. 1 to 3 credits. P: MBA 832 or approval
491 Topics in Finance of department RB: FI 851 R: Open to mas- 855 Financial Derivatives II
Fall of even years. 1 to 4 credits. A student ters students in the Finance major and open Spring. 1 to 3 credits. P: FI 851 and FI 852
may earn a maximum of 9 credits in all en- to MBA students or approval of department. or approval of department R: Open to mas-
rollments for this course. P: FI 311 R: Open Applications of financial theory through computer ters students in the Finance major and open
to juniors or seniors. modeling. Financial forecasting, cash flow model- to MBA students.
Current and emerging issues in finance to supple- ing, and valuation. Derivatives pricing and applications to corporate
ment and enrich existing courses. securities, structured products, and credit default
swaps.
846 Financial Modeling and Simulation II
801 Managerial Finance Fall. 1 to 3 credits. P: FI 845 or approval of
Fall. 3(3-0) RB: (ACC 800) and students in department RB: FI 851 R: Open to masters 857 Security Analysis and Portfolio
programs for which FI 801 is a catalog-listed students in the Finance major and open to Management
requirement. R: Open only to students in MBA students or approval of department. Fall, Spring. 3(3-0) A student may earn a
Professional Accounting. Application of financial theory using computer mod- maximum of 6 credits in all enrollments for
Short-, intermediate- and long-term problems. Fi- eling. Portfolio optimization, risk measurement, and this course. P: FI 851 R: Open to masters
nancial planning and control. Applications in domes- option pricing. students in the Finance major and open to
tic and international settings. MBA students. Approval of department.
Fundamental analysis of individual stocks. Dis-
847 Corporate Strategies and Risk counted cash flow valuation, relative valuation, and
821A Cross Section and Panel Data Management special situations. Management of student-run
Econometrics I Fall. 1 to 3 credits. P: FI 844 RB: FI 845 investment fund.
Fall. 3(3-0) Interdepartmental with Agricul- and FI 851 R: Open to masters students in
tural Economics and Economics and Statis- the Finance major and open to MBA stu-
tics and Probability. Administered by Eco- dents or approval of department. 859 Mergers and Acquisitions
nomics. P: EC 820B SA: EC 821 Identifying corporate strategies to help manage Spring. 1 to 3 credits. P: MBA 832 or FI 801
Analyses of systems of equations, panel data mod- business, financing, and competitive risks. Case R: Open to masters students in the Finance
els, instrumental variables and generalized method studies. major and open to MBA students or approv-
of moments, M-estimation, quantile regression, al of department.
maximum likelihood estimation, binary and multino- Provides a broad overview of corporate mergers and
mial response models, Tobit and two-part models, 850 Introduction to Investments I acquisitions from the finance perspective.
and other selected topics. Spring. 1 to 3 credits. P: MBA 832 or ap-
proval of department R: Open to masters
students in the Finance major and open to 860 Multinational Corporate Finance
821B Cross Section and Panel Data MBA students or approval of department. Fall. 1 to 3 credits. P: MBA 832 or approval
Econometrics II Essential financial theories and quantitative tools of department R: Open to masters students
Spring. 3(3-0) Interdepartmental with Agri- related to the field of investments. Topics include in the Finance major and open to MBA stu-
cultural Economics and Economics and Sta- behavior and distribution of stock returns, mean- dents or approval of department.
tistics and Probability. Administered by Eco- variance optimization model of portfolio selection, Corporate financial management in a multinational
nomics. basic asset pricing theories and market efficiency. setting.
Analyses of quasi-maximum likelihood estimation,
count data models, fractional response models, 851 Introduction to Investments II
duration models, sample selection and attrition, Spring. 1 to 3 credits. P: FI 850 or approval 861 International Financial Markets and Risk
stratified sampling, estimating treatment effects, of department R: Open to masters students Management
stochastic frontier models, and other advanced in the Finance major and open to MBA stu- Fall. 1 to 3 credits. P: MBA 832 or approval
topics. dents or approval of department. of department R: Open to masters students
Investment management, portfolio performance in the Finance major and open to MBA stu-
evaluation, active portfolio management, essentials dents.
822A Time Series Econometrics I of bonds and derivatives, and essentials of interna- Financial investments and risk management in a
Fall. 3(3-0) Interdepartmental with Agricul- tional diversification. multinational setting.
tural Economics and Economics and Statis-
tics and Probability. Administered by Eco- 852 Financial Derivatives I
nomics. P: EC 820B SA: EC 822 Spring. 1 to 3 credits. P: FI 851 or approval 862 Corporate Strategy Valuation
Analyses of time series regression, stationary time of department R: Open to masters students Spring. 1 to 3 credits. P: MBA 832 or ap-
series analysis, ARMA models, Wold decomposi- in the Finance major and open to MBA stu- proval of department R: Open to masters
tion, spectral analysis, vector autoregressions, dents or approval of department. students in the Finance major and open to
generalized method of moments, functional central Introduction to pricing, trading strategies, and hedg- MBA students or approval of department.
limit theorem, nonstationary time series, unit root ing applications of forward and futures contracts, Measuring and managing the valuation of corporate
processes, cointegration, and other advanced top- swaps, and options. strategies.
ics.

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FIFinance

863 Corporate Restructuring and 891 Topics In Finance


Governance Fall of even years. 1 to 3 credits. A student
Spring. 1 to 3 credits. P: (MBA 832 or FI may earn a maximum of 9 credits in all en-
801) and FI 859 R: Open to masters stu- rollments for this course. P: (FI 801 or MBA
dents in the Finance major and open to 832) or (PIM 841 and PIM 842)
MBA students. Current and emerging issues in corporate finance,
Provides a broad overview of mergers, corporate investments, and financial modeling to supplement
restructuring, divestitures and bankruptcy from the and enrich existing courses.
finance perspective.
980 Theory of Finance
Fall. 3(3-0) R: Open only to doctoral stu-
865 Corporate Real Options Valuation dents in the College of Business or approval
Spring. 1 to 3 credits. P: MBA 832 or ap- of department.
proval of department R: Open to masters Introduction to the financial theory of the firm. Theo-
students in the Finance major and open to retical models dealing with capital structure, cost of
MBA students. capital, dividend policy and leasing.
Application of the real options methodology to ana-
lyze practical problems in corporate finance. 981 Corporate Finance Theory
Spring of odd years. 3(3-0) RB: FI 980 R:
Open only to doctoral students in the Col-
869 Entrepreneurial Finance and Venture lege of Business.
Capital Theoretical foundations. Recent empirical research
Spring. 1 to 3 credits. P: MBA 832 or FI 801 in capital structure, dividend policy, and agency
R: Open to masters students in the Finance theory.
major and open to MBA students.
Introduction to the financing and valuation of entre- 982 Investment Theory
preneurial startups, venture capital and private Spring of even years. 3(3-0) RB: FI 980 R:
equity. How to prepare a successful business plan Open only to doctoral students in the Col-
to raise financing from venture capitalists. Structur- lege of Business.
ing venture capital and private equity deals. Market efficiency, stochastic processes, option
pricing, efficient set mathematics, intertemporal
asset pricing and arbitrage pricing theory.
870 Venture Capital and Private Equity
Spring. 1 to 3 credits. P: (MBA 832 or FI 983 Financial Econometrics
801) and FI 869 R: Open to masters stu- Spring. 3(3-0) P: EC 818 and (EC 821 or
dents in the Finance major and open to concurrently) and (EC 822 or concurrently)
MBA students or approval of department. R: Open only to doctoral students in the Col-
Advanced topics in the financing of entrepreneurial lege of Business or Economics major.
startups, venture capital and private equity. Valua- Econometric techniques of relevance to problems in
tion for entrepreneurial startups, venture capital and finance: asset pricing. Interpretation of the results
private equity, and institutions. Corporate venture and limitations of recent empirical finance research.
capital. Venture capital investing and fundraising.
Private equity investments. Sale of venture capital- 999 Doctoral Dissertation Research
backed entrepreneurial firms, and initial public equity Fall, Spring, Summer. 1 to 24 credits. A
offerings. student may earn a maximum of 99 credits
in all enrollments for this course. R: Open
only to doctoral students in the Department
877 Functions and Management of Financial of Finance.
Institutions Doctoral dissertation research.
Spring. 1 to 3 credits. P: MBA 832 or FI 801
or approval of department R: Open to mas-
ters students in the Finance major and open
to MBA students or approval of department.
Origin, nature, structure, and management of finan-
cial institutions. Products and services offered, risks,
and strategies. Applications in domestic and interna-
tional settings.

878 Commercial Bank Management


Spring. 1 to 3 credits. P: MBA 832 or FI 801
or approval of department R: Open to mas-
ters students in the Finance major and open
to MBA students.
Origin, nature, structure, and management of com-
mercial banking. Products and services offered,
risks, and strategies. Applications in domestic and
international settings.

890 Independent Study


Fall, Spring. 1 to 3 credits. A student may
earn a maximum of 6 credits in all enroll-
ments for this course. RB: MBA 832 R:
Open to graduate students in the Eli Broad
College of Business and The Eli Broad
Graduate School of Management. Approval
of department.
Faculty-guided research projects.