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Undergraduate Studies Catalog

FINANCE (FINC)

www.gsb.luc.edu/depts/finance

Professors: G. Kaufman, S. Lee, N. Lash, T. Malliaris, V. Tarhan, J. Urrutia

Associate Professors: T. Nohel, L Hong

Assistant Professor: S. Todd

Visiting Professor: G.Chaudoin

Adjunct Professor: E. Brewer

OBJECTIVES

The curriculum in Finance introduces the student to the theory of financial management and its application to decision-making. An analytic approach to problem solving is illustrated by the use of financial tools in a variety of areas. These include financial markets and institutions, capital budgeting, financial management and portfolio theory.

COURSES OF INSTRUCTION

215. Personal Finance.
The goal is to help students plan for a successful financial future. Topics include organizing and managing personal financial resources, insurance planning, investing principles and management of personal portfolios, and, financial planning. Teaches the principles of personal finance to both business and non-business students. This course does not count toward the concentration in finance.

332. Business Finance.
Prerequisites: junior standing, ACCT 201; ECON 201, ISOM 241.
Principles underlying the financial management of the firm; time value of money, securities valuation, capital budgeting, cost of capital, sources of funds, capital structure policy, cash management and dividend policy.

335. Investments.
Prerequisites: junior standing, 332.
The market environment, the theory of efficient markets and the determination of stock market prices; the valuation of securities and the role of earnings; and the theory of portfolio management. Considerable attention is given to modern developments.

337. Banking, Money and Capital Markets.
Prerequisites: junior standing, 332.
Financial institutions with emphasis on commercial banks, the Federal Reserve system, financial markets and the determination of interest rates, term structure of interest rates, monetary and fiscal policies.

340. Emerging Markets.
Prerequisite: junior standing.
This course will analyze the impact of the financial sector on economic performance, both in terms of fostering economic development and growth, and also in terms of engendering economic crises. Attention will also be devoted to the potential of emerging markets for global investment. Among topics to be discussed are: financial intermediation, the financial sector and economic development, financial repression vs. liberalization, the Asian financial crisis, fiscal factors and privatization, portfolio investment and emerging markets, globalization of world financial markets, the emerging equity, bond and derivative markets, and investment strategies with a focus on risk, return, and portfolio diversification. (Offered in Rome)

342. Advanced Business Finance.
Prerequisites: junior standing, 332.
Analysis of capital budgeting, cost of capital, financing decisions, dividend policy, and mergers.

345. Portfolio Management.
Prerequisites: junior standing, 335.
An advanced survey of contemporary theories and practice of equity and debt portfolio management.

346. Introduction to Options.
Prerequisites: junior standing, 332, 335.
Offers a comprehensive introduction to options, detailed examination of the methods of valuing options, and insights into option contracts as hedging tools.

347. Financial Institutions.
Prerequisites: junior standing, 337.
A study of the role played by leading financial institutions in the United States. The course will be a blend of theory and analysis of the present institutional structure.

348. Working Capital Management.
Prerequisites: junior standing, 332.
Examines the tools and techniques of corporate treasury management and working capital management. This course emphasizes the use of spread sheets for financial modeling.

350. Internship Program.
Prerequisite: junior standing.
Designed to provide controlled, on-the-job experience with participating business, industrial and governmental organizations. Can be taken for a maximum of 3 semester credit hours. Each semester of enrollment requires a term project. This course does not count toward the concentration in finance. Pass/Fail credit only.

Applied Portfolio Management I (2 hrs.)
Prerequisite: FINC 335, 345 & permission of instructor.

Applied Portfolio Management II (1 hr.)
Prerequisite: FINC 352
Students apply portfolio theory and industry practice as they engage in hands-on investment management of funds, on behalf of the university’s endowment. This course is jointly offered as an MBA course (FINC 553).

355. International Financial Management.
Prerequisites: junior standing, 332.
Examines the international dimensions of financial management. Topics include international monetary system, foreign exchange markets, determinants of exchange rate, foreign risk management, international portfolio investments, and capital budgeting in an international framework.

Independent Study in Finance.
Prerequisite: junior standing.
Independent study is in-depth research or reading, initiated by the student and jointly developed with a faculty member, into a specialized area of Finance not otherwise covered by department course offerings. Variable credit. Will count toward major requirements. Permission of Assistant Dean required.

398. Principles of Insurance and Risk Management.
Prerequisites: junior standing, 332.
Emphasizes basic concepts and principles of insurance and risk management for individuals and firms. Discusses the main functions of an insurance company, underwriting, claim settlement, marketing and investments, and main types of property/ liability and life/health insurance policies.

Special Topics in Finance.
Prerequisite: junior standing.
Special Topics are scheduled classes offered on an ad hoc basis. Specific titles, prerequisites and content will vary.

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