Santa Clara University

UPPER-DIVISION COURSES

121. Financial Management

Introduction to the financial questions facing companies and their answers. Topics include stocks and bond valuation, capital budgeting, short- and long-term financing, financial analysis and forecasting, cash management, credit policy and dividend policy. Prerequisites: ACTG 11 and 12 and proficiency with spreadsheets. (5 units)

124. Investments and Investment Institutions

Introduction to the nature and functions of securities markets and financial instru­ments. The formulation of investment goals and policies, trading strategies, and portfo­lio management. Emphasis on security anal­ysis and valuation. Prerequisite: FNCE 121. (5 units)

125. Corporate Financial Policy

In-depth examination of the interrelation­ships between corporate investment and financing decisions and their impact on a firm’s pattern of cash flows, return, and risk. Special emphasis on the development of analytical techniques and skills for analyzing performance reflected in financial state­ments. Case studies are used. Prerequisites: FNCE 121 and 124. (5 units)

126. Money and Capital Markets

Role and function of financial institutions, financial flows, interest rate structures, money, and capital markets. Emphasis on the implications for the formulation of busi­ness financial policy. Prerequisites: FNCE 121 and 124. (5 units)

128. Real Estate Finance

Exploration of the real estate market, including investments in residential and commercial real estate by individuals, part­nerships, and trusts. Emphasis is on the valuation and cash flow analysis of these projects and an understanding of financing alternatives. Prerequisites: FNCE 121 and 124. (5 units)

130. Ethics in Finance

Exploration of the ethical dimension of financial markets. Topics include insider trading, moral hazard, agency, adverse selec­tion, and financial market regulations concerning disclosure, price manipulation, suitability, trading interruptions, margin requirements, and short-sale restrictions. Prerequisites: FNCE 121 and 124. (5 units)

141. New Venture Finance

Financial modeling for determining the financial health of companies and strategies for their growth. Topics include promoting funding needs, raising capital, and valuing emerging businesses.  Prerequisites: FNCE 121 and 124. (5 units)

151. International Finance

Examination of the functioning of the inter­national monetary system and the financial problems of business firms operating inter­nationally. Transfer of international payments, foreign exchange rates, balance of payments, international liquidity, invest­ment, financial markets, banking, and financial management. Prerequisites: FNCE 121, 124, and MGMT 80. (5 units)

163. Investment Practice

The practice of portfolio management. Using a portion of the University’s endow­ment fund to acquire real-life investment experience. Various investment objectives will be explored including derivatives to protect current positions, fixed income, and equity investments. Course meets once a week over two quarters. Prerequisites: FNCE 121, 124, and instructor approval. (5 units)

170. Business Valuation

Practical valuation tools for valuing a company and its securities.  Valuation techniques covered include discounted cash-flow analysis, estimated cost of capital (cost of equity, cost of debt, and weighted average cost of capital), market multiples, free-cash flow, and pro-forma models. Prerequisites: FNCE 121 and 124. (5 units)

180. Open Book Management

Open book management is a system that places finance and accounting at the center of management processes for decision making and monitoring.  The course uses simulation techniques to teach students how to create a corporate culture around the principles of open book management, particularly the treatment of agency conflicts and the use of effective business processes.  Prerequisites: FNCE 121, 124 and 125. (5 units)

198. Internship

Opportunity for selected upper-division students to work in companies and non-profit organizations. Prerequisite: Finance major, successful completion of FNCE 121, and instructor approval. (1-5 units)

199. Independent Study

Independent projects undertaken by upper-division students with a faculty sponsor.  Independent studies are normally permitted only under special circumstances.  Prerequisite:  Written proposal must be approved by instructor and chair one week prior to registration. (1-5 units)