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Instruction offered by members of the Haskayne School of Business.
Finance Chairperson — A. Lehar
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Finance
317
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Financial Management
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Focuses on the investment and financing decision of the firm. Heavy emphasis is placed on valuation and management of working capital and long-term assets. The Canadian financial system and sources of financing are surveyed with a view to integrating the financing and investment decisions of a firm.
Course Hours:
H(3-3T)
Prerequisite(s):
Admission to the Haskayne School of Business, successful completion of 5.0 full-course equivalents including Mathematics 249 or 251 or 265 or 281, Economics 201 and 203, Statistics 213 and 217, Accounting 217 or 317, and Business and Environment 291 or Management Studies 217.
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Finance
341
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Canadian Business Finance
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An introduction to business financial management practices in Canada including investment decision, capital markets, and sources, uses and costs of capital over short, intermediate and long run situations.
Course Hours:
H(3-1T)
Prerequisite(s):
Successful completion of 5.0 full-course equivalents.
Notes:
Not available for credit toward the Bachelor of Commerce degree. Preference in enrolment is given to students who have declared a Management and Society Minor. Consult the Enrolment Services website for registration details (http://www.ucalgary.ca/registrar/).
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Finance
343
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Personal Financial Management
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An introduction to personal financial management practices in Canada. Topics discussed may include goal setting, personal financial statements, the mathematics of personal finance, taxation, general and life insurance, retirement planning, investments, and estate planning. Completion of the course should enable students to properly prepare and plan their own financial future.
Course Hours:
H(3-2T)
Prerequisite(s):
Successful completion of 5.0 full-course equivalents.
Notes:
Not available for credit toward the Bachelor of Commerce degree. Preference in enrolment is given to students who have declared a Management and Society Minor. Consult the Enrolment Services website for registration details (http://www.ucalgary.ca/registrar/).
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Finance
443
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Security Analysis and Investments
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Techniques and theories used in selecting securities for various investment objectives. Evaluation of risks and opportunities with respect to purchase, sale, or retention of investments.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
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Finance
445
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Futures and Options
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A study of financial contracts for which the payoffs are contingent upon or derived from the value pre-specified underlying economic variables. Typical underlying variables include the spot price of a commodity and the price of a stock. These contracts are used extensively for hedging and speculative purposes. They also provide useful information about forecasts of the underlying economic variable in a process called "price discovery."
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
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Finance
447
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Capital Budgeting
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Capital investment policies, real options, required rate of return calculation, tax factors, risk analysis, buy versus lease, abandonment considerations.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
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Finance
449
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Trading and Market Data Management
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Introduces students to accessing data feeds as they are used by professional financial market traders and analysts. Data for stock, bond, futures and options markets, accounting statements and securities commission filings, as well as real-time and historical news events and analysis will be studied.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317 and consent of the Haskayne School of Business.
Antirequisite(s):
Not for credit with Management Studies 559.15.
Notes:
Enrolment is strictly limited by the Haskayne School of Business.
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Finance
451
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Advanced Financial Management
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Focuses on understanding the advanced theories and practices of financial management that are required for finance majors. Topics include market imperfections arising from asymmetric information and taxation. It applies these concepts to study incentives and conflicts in various financial agent pairings. These concepts are then used in a theoretical and empirical study of important financial decisions, such as capital structure, dividend policy, retained ownership, security underwriting, management of distressed firms, managerial compensation, corporate governance and mergers.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
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Finance
461
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International Finance
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A study of the forces affecting the financial environment of the corporate sector which appear to stem from requirements in the international sector. Balance-of-payments problems, exchange rates, currency risk hedging techniques, international reserve creations and transfers are some of the major elements studied.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
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Finance
463
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Portfolio Theory and Management
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Analysis of the major aspects of the grouping of financial assets. Portfolio analysis and its application to portfolio management, capital market theory and the measurement of financial performance in the presence of risk.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
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Finance
465
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Mergers and Acquisitions
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A study of the economic theory and practical issues around takeover and takeover defence strategies. Valuation issues, corporate restructuring, corporate governance, and methods of ensuring congruence between management and shareholder goals are also discussed.
Course Hours:
H(3-1T)
Prerequisite(s):
Finance 317.
Antirequisite(s):
Not for credit with Finance 559.01.
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Finance
467
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Financial Risk Management
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A framework for evaluating financial risks and managing them with the use of financial securities including derivatives. Includes firm valuation with risk management, value-at-risk, testing financial models, optimal hedging strategies, energy risk management, market risk, static versus dynamic strategies, interest rate risk, credit risk and liquidity risk. Case analysis of financial disasters due to risk management failures.
Course Hours:
H(3-1T)
Prerequisite(s):
Finance 317.
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Finance
471
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The Calgary Portfolio Management Trust
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A comprehensive hands-on review of the modern theories and applications of portfolio management. Students will be responsible for completing the fiduciary duties of an actual fund manager, reporting to a Board of Trustees. Topics may include: selecting securities, hedging with covered options, benchmarking a portfolio, financial reporting, evaluation of risk, risk/return tradeoffs and management.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
Notes:
Enrolment is strictly limited by the Haskayne School of Business and the student must be in the BComm program.
Also known as:
(formerly Finance 470)
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Finance
473
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New Venture Finance
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Application of financial theory and analysis to the valuation and financing of new ventures. Course balances learning of concepts, development of analytical skills, and practice in decision making. Opportunity to apply learning to live projects.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
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Finance
475
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Management of Financial Institutions
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Management of funds and their allocation among cash, primary reserves, loans and investments to provide liquidity and earnings. Services to depositors. Consideration of factors involved in the lending decision, pricing of services, branch location, etc. Strategies for maintaining profitability and liquidity in the face of changing monetary policy.
Course Hours:
H(3-1T)
Prerequisite(s):
Finance 317.
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Finance
479
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Corporate Risk Management
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Introduction to the management of operational and hazard risks based on contemporary financial theories, including risk identification, loss estimation, risk control, risk financing with insurance and other techniques, and enterprise risk management.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 317.
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Finance
559
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Selected Topics in Financial Management
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Investigation of selected topics related to financial management, emphasizing the application of financial management principles to actual problems in the corporate sector.
Course Hours:
H(3-1T)
Prerequisite(s):
Finance 317.
Also known as:
(formerly Finance 595)
MAY BE REPEATED FOR CREDIT
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Finance
601
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Managerial Finance
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The major decision-making areas confronting modern financial managers today. Provides a general understanding of financial markets and how they can be used for personal finance. Covers traditional subjects such as capital budgeting, net present value, risk/return, capital structure and dividend policy. Topical areas covered are IPOs, mergers and acquisitions, derivatives and options. The course is integrated with current events from the financial world.
Course Hours:
H(3-0)
Prerequisite(s):
Accounting 601.
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Finance
745
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Futures and Options
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After presenting basic definitions, institutional details, and strategies, a general theory of derivative pricing based on the principle of No Arbitrage will be developed. This theory will then be applied to the basic derivative contracts (futures, forwards, put options and call option) as well as exotic options. Using the binomial model, as well as the continuous time model of Black Scholes, hedging and replication will also be examined.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
751
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Advanced Topics in Financial Administration
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Classical and contemporary topics in the theory and practice of financial management including capital structure, cost of capital, real options valuation, bankruptcy costs and debt holder-equity holder conflicts, corporate financial strategy, managerial incentives and financial decisions, information conveyed by financial decisions, and mergers and acquisitions.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
753
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Problems in Financial Management
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The application of financial management principles to actual problems mainly in the corporate sector, including such areas as working capital, management, short, intermediate and long-term financing problems, dividend policy and reorganization.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
755
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Capital Budgeting
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Capital investment policies, real options, required rate of return calculation, tax factors, risk analysis, buy versus lease, abandonment considerations.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
757
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Management of Financial Institutions
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Financial intermediaries such as banking and brokerage. Explains the risks faced by institutions and the integration through modern financial markets. Covers issues such as lending, trading, securitization, deposit insurance and the regulatory environment. Concludes with modern bank management from the shareholder value point of view.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
759
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Investment and Portfolio Management
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Theory and analysis of investment and portfolio management decisions. Evaluation of performance of individual and professional investors and portfolio managers.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
765
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Mergers and Acquisitions
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A study of economic theory and practical issues around takeover strategies, and takeover defence strategies. Valuation issues, corporate restructuring, corporate governance, and methods of ensuring congruence between management and shareholder goals are also discussed.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
767
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Financial Risk Management
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A framework for evaluating financial risks and managing them with the use of financial securities including derivatives. Includes firm valuation with risk management, value-at-risk, testing financial models, optimal hedging strategies, energy risk management, market risk, static versus dynamic strategies, interest rate risk, credit risk and liquidity risk. Case analysis of financial disasters due to risk management failures.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
785
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New Venture Finance
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Problems of valuing and financing new ventures. Emphasis on financial theory, best practices and modelling of new ventures. Case studies and opportunities to develop detailed financial plan for live new venture.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601 or consent of the Haskayne School of Business.
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Finance
789
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Seminar in Financial Management
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Intensive study and discussion of current literature and research with respect to selected, advanced topics in Finance.
Course Hours:
H(3S-0)
MAY BE REPEATED FOR CREDIT
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Finance
795
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International Finance
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A study of the international financial environment and the issues firms face when operating in this environment. Currency regimes, currency crises, balance of payments, exchange rate and interest rate parity conditions, supernational agencies, political risks, management of foreign exchange exposure are some of the major topics studied.
Course Hours:
H(3-0)
Prerequisite(s):
Finance 601.
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Finance
797
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Advanced Seminar in Finance
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Course Hours:
H(3S-0)
Prerequisite(s):
Consent of the Haskayne School of Business.
MAY BE REPEATED FOR CREDIT
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Finance
799
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Doctoral Seminars in Finance
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799.01. Theory of Finance
799.02. Empirical Methods in Finance
799.03. Topics in Finance
799.04. Financial Engineering
799.05 Theory of Corporate Finance
799.06 Asset Pricing
799.07 Topics in Asset Pricing and Corporate Finance
Course Hours:
H(3S-0)
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COURSES OF INSTRUCTION