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Credit
hours follow the course title. Courses eligible for credit toward
the MBA elective credit and the Banking and Finance concentration
are listed below in the Banking and Finance Electives section.
For
students starting the MBA program as of Fall 2004,
the concentration in banking and finance is 12 credits.
For
students enrolled in the MBA program before Fall 2004,
the concentration in banking and finance is 9 credits.
Please
note: at the end of the course descriptions, there
is a special section with suggestions for grouping the electives
in banking and finance for specific career
tracks.
Concentrations: Banking and Finance Electives Course Listing
[show all descriptions]
ACCT 414: Corporate Reporting and Analysis
- 3.00
This course provides a basis for evaluation of traditional and proposed uses of report and information for decision making in investment, credit and internal planning and control. Students are introduced to concepts and analytical techniques that can be used to critique and interpret the financial health of the organization. At a practical and theoretical level, the course integrates research in the areas of accounting, quantitative methods and finance which has proved useful in the financial analysis of organizations.
BAFI 403: Financial Management II
- 3.00
This is a continuation of BAFI 402 and serves as a prerequisite for several advanced electives in banking and finance. Its purpose is to familiarize the student with the theory and application of additional models used in financial decision-making by corporations. Issues relating to efficient markets, dividend policy, capital structure, financing decisions, option pricing, leasing, and risk management are among the topics considered. In addition, special topics may include mergers and acquisitions, pension funds, and international financial management.
BAFI 404: Financial Modeling
- 3.00
Firms try to create value. In their day-to-day operations, they are faced with numerous challenges; should we accept trade credit or borrow? Will an acquisition create or destroy value? Should we introduce a new product line even if it cannibalizes an existing one? In each of these situations they try to quantify the impact on the value of their firm. The goal of this course is to develop your skills in financial modeling and valuation, so you can tackle issues like the ones described above. The course is designed to be "hands-on": you will learn to apply the theory and develop spreadsheet modeling skills through homework, case studies and a group project. By the end of the course you will have a good understanding of both the theory and practice of valuation, and possess a set of cutting-edge financial modeling skills. This course is designed for students who aspire to work in a regular company, a bank or a consulting firm in (i) corporate finance (including mergers and acquisitions); (ii) strategy; or (iii) equity analysis.
BAFI 420: Health Finance
- 3.00
Exploration of economic, medical, financial and payment factors in the U.S. healthcare system sets the framework for the study of decisions by providers, insurers, and purchasers in this course. The mix of students from various programs and professions allows wide discussion from multiple viewpoints.
Offered as BAFI 420 and HSMC 420.
BAFI 422: Management of Financial Institutions
- 3.0
This course applies the principles of financial management to financial institutions, especially commercial banks. The impact of monetary and fiscal policies and the changing regulatory, legislative, and technological environments are studied. Specific problem-solving techniques and decision-making are emphasized. Prereq: MBAC 416 or BAFI 402 or consent of instructor.
BAFI 426: Applied Security Analysis
- 3.0
This is a course for those seeking an in-depth examination of equity investment decision. The course is funded by a grant and involves the continuing analysis, review and reinvestment of the funds in an actual portfolio dedicated to this course. There is active involvement with members of The Cleveland Society of Securities Analysts, including attendance at Corporate Investor Relations presentations. The course emphasizes the application of particular analytical models of stock selection. Prereq: BAFI 403, ECON 403, MBAC 414 or QUMM 414.
BAFI 428: Financial Strategy and Value Creation
- 3.00
The intersection between the theory of perfect markets and the reality of market imperfections provides the basis for the exploration of value creation in this course. Opportunities in both product and financial markets are explored using case studies to develop a framework for strategic financial decisions.
BAFI 429: Investment Management
- 3.00
This course explores the characteristics of financial investments and markets and develops modern techniques of investment analysis and management. The goal is to help students develop a level of analytical skill and institutional knowledge sufficient to make sensible investment decisions. Topics include: an overview of stock, debt and derivative asset markets, practical applications of modern portfolio theory, equilibrium and arbitrage-based approaches to capital market pricing, the debate over market efficiency, the term structure of interest rates, bond portfolio management, and uses of derivative assets in investment portfolios.
BAFI 430: Derivatives and Risk Management
- 3.00
This course is intended to give students an understanding of options and future markets both in theory and practice. The emphasis is on arbitrage and hedging. The course concentrates on listed common stock and index contracts as well as commodity markets. Various theories for trading strategies are studied.
BAFI 431: Fixed Inc Mkts & Their Dervtvs
- 3.0
This class is concerned with fixed income securities, interest rate risk management, and credit risk. Fixed income securities account for about two thirds of the market value of all outstanding securities, and hence this topic is important. The course covers the basic products of fixed income markets including treasury and LIBOR products, such as interest rate swaps. Risk management and hedging strategies are covered as well as selected topics in credit risk models and mortgage-backed securities. Prereq: BAFI 430.
BAFI 432: Corporate Risk Management
- 3.0
This is a unique strategic risk management course aimed at participants who wish to enhance their understanding of the risks faced by corporate firms, both financial and non-financial, learn techniques to identify and measure these risks, and understand how derivatives and risk management solutions can be used to manage these risks, create value, and advance the strategic goals of the firm. The course is designed in a manner such that it would be of use to executives of all corporations, financial and nonfinancial, across all functional areas. Prereq or Coreq: BAFI 403.
BAFI 440: Advanced Corporate Finance
- 3.00
This course exposes the students to a more in-depth treatment of some of the topics covered in BAFI 403 and introduces them to new topics. Topics include investment decisions, financing decisions, payout decisions, contracting decisions and performance metrics, internal control systems, risk management, real options, diversification and valuation. Topics covered may vary from semester to semester.
BAFI 441: Global Banking
- 3.0
Financial institutions currently operate in a 'Global' market place owing to recent changes in regulation, market integration and political action. This course will provide an understanding of the role banks play in the financial system and thus facilitate a comparative analysis of banking systems across the globe (Japan, Korea, Latin America, South Asia and United States). The effect of recent changes in the banking environment on the provision of services like loan origination, underwriting, insurance, and asset management will also be covered. The final part of the course will focus on the anatomy of financial crises, their origins and their effects. In particular, the recent crises in East Asia and Argentina will be used as case studies. Prereq: BAFI 402. Coreq: BAFI 403.
BAFI 444: Entrepreneurial Finance
- 3.0
The objective of this course is to introduce students to the issues of financial management and capital formation in new ventures. The course will address issues of estimation of cash requirements, development of pro forma financial plans, firm valuation and the process and tools used in raising debt and equity financing. Bootstrapping, angel investing, venture capital, strategic alliances and initial public offerings will be covered. The emphasis is on the entrepreneur and how he/she can assess financial needs and develop a sensible plan for acquiring financial resources in a manner that is consistent with their financial needs and other strategic goals. Prereq: BAFI 402.
BAFI 450: Mergers and Acquisitions
- 3.00
This course examines the economic rationale and motivation for the different merger and acquisition and recapitalization activities undertaken by firms and individuals in the U.S. market. Emphasis is on the comparable publicly traded proxy company, comparable "change of control" transaction, and discounted cash flow methods of valuing a firm. The class will also review the different types of debt and equity capital employed to fund mergers and acquisitions and recapitalizations, how senior lenders and equity investors structure their loans and/or investments, and how investors realize the gains through different exit strategies. The legal and tax ramifications of various forms of M&A activity are also discussed. The course gives the student an excellent understanding of the role that senior commercial banks, insurance companies, pension funds, LBO funds, investments banking firms, and venture/growth capital investors play in mergers and acquisitions and will strengthen the students' ability to value a business enterprise.
BAFI 460: Investment Banking
- 3.0
This course covers the role of the investment banker as a strategic financial advisor, primarily to corporate clients. The course is divided into three sections, roughly equal in length: (1) industry structure, key players, services and strategies, (2) the capital acquisition process, with a particular focus on initial public equity offerings, and (3) mergers and acquisitions, with a focus on advising financial and strategic buyers and financing these transactions. Students will gain extensive experience in applying financial models that support valuations in various markets. Prereq: BAFI 403 or permission of instructor.
BAFI 480: International Financial Management
- 3.00
This course introduces students to international finance and foreign exchange risk management by corporations. Topics include foreign exchange markets and international financial institutions; fx contracts; exchange rate risk and corporate risk management; and international aspects of long-term financing.
Banking
and Finance electives organized by Career Track
Commercial Banking
Early elective sequence
- BAFI 403: Financial Management II
- BAFI 404: Financial Modeling
- BAFI 422: Management of Financial Institutions (basics in commercial banking)
- ACCT 414: Corporate Reporting and Analysis (a must for credit analysis)
Later elective sequence
- BAFI 430: Options and Futures
- BAFI 450: Corporate Restructuring or BAFI 460: Investment Banking
- BAFI 480: International Financial Management (because currencies are central to a bank's business)
- BAFI 432: Risk Management and Financial Engineering (derivatives from your client's point of view)
- BAFI 441: Economics of Financial Intermediation
Corporate
Finance
- BAFI 403: Financial Management II
- BAFI 404: Financial Modeling
- BAFI 429: Investment Management (a must for any MBA in finance)
- BAFI 430: Options and Futures (for treasury and CFO paths; basics in derivatives)
- ACCT 414: Corporate Reporting and Analysis (for equity analyst path)
- BAFI 420: Health Finance (for healthcare related fields)
- ACCT 419: Financial Accounting and Capital Structure
Later elective sequence
- BAFI 428: Financial Strategy and Value Creation ( Turning strategy into values; relates finance to everything else; real world application of concepts)
- BAFI 432: Risk Management and Financial Engineering (using derivatives in a corporate setting; builds on BAFI 430)
- BAFI 440: Advanced Corporate Finance (extension of BAFI 403)
- BAFI 450: Corporate Restructuring (CFO-level topics taught by an industry practitioner)
- BAFI 460: Investment Banking (security issuance or IPOs, taught by an industry practitioner)
- BAFI 480: International Financial Management (for paths where exchange rate issues are prominent)
Investment Banking
Early elective sequence
- BAFI 403: Financial Management II
- BAFI 404: Financial Modeling
- BAFI 429: Investment Management (a must for any MBA in finance)
- ACCT 414: Corporate Reporting and Analysis (for equity analyst path)
- BAFI 430: Options and Futures (for treasury and CFO paths; basics in derivatives)
- BAFI 404: Financial Modeling (modeling is a fundamental skill)
- BAFI 420: Health Finance (for healthcare related fields)
- ACCT 419: Financial Accounting and Capital Structure
Later elective sequence
- BAFI 450: Corporate Restructuring (CFO-level topics taught by an industry practitioner)
- BAFI 460: Investment Banking (security issuance or IPOs, taught by an industry practitioner)
- BAFI 480: International Financial Management (exchange rate risks)
- BAFI 432: Risk Management and Financial Engineering (derivatives from your client's point of view)
- BAFI 440: Advanced Corporate Finance (understanding what's behind firms' decisions to use capital markets)
- BAFI 441: Economics of Financial Intermediation
Investment Management
Early elective sequence
- BAFI 403: Financial Management II
- BAFI 404: Financial Modeling
- BAFI 429: Investment Management (the fundamentals of your field)
- BAFI 430: Options and Futures (to mange financial assets)
- BAFI 404: Financial Modeling (for an equity analyst path)
- ACCT 419: Financial Accounting and Capital Structure
Later elective sequence
- BAFI 426: Applied Security Analysis (for equity management)
- BAFI 431: Fixed Income Markets and Their Derivatives (for fixed income management)
- BAFI 480: International Financial Management (for paths where exchange rate issues are prominent)
- ACCT 414: Corporate Reporting and Analysis (for equity analyst path)
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