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University Bulletin: Graduate Programs The George Washington University  

 
   
 

FINANCE

Professors T.M. Barnhill, W. Handorf, M.S. Klock, I.G. Bajeux-Besnainou, G.M. Jabbour, R. Van Order (Chair)

Associate Professors N.G. Cohen, P.S. Peyser, A.J. Wilson, R. Savickas, S. Agca, G. Jostova, A. Baptista, M. Hwang

Assistant Professors C.A. Pirinsky, B.J. Henderson, O. Altinkilic

Professorial Lecturers S. Uyanik, R. Strand

See the School of Business for programs of study in business administration leading to the degrees of Master of Accountancy, Master of Business Administration, Master of Science in Finance, and Doctor of Philosophy.

Note: MBAd 6234 is prerequisite to Fina 6221-6248.

6221 Financial Decision Making (3) Peyser, Barnhill
  Theory and practice of business finance, emphasizing the impacts of long- and short-term uses and sources of funds on the firm’s market value. (Fall and spring)
6222 Capital Formation (3) Handorf and Staff
  Determinants of saving and investment and resultant funds flow are evaluated. Special emphasis on the level and risk structure and term structure of interest rates. The role and management of financial institutions is stressed. (Fall and spring)
6223 Investment Analysis and Portfolio Management (3) Baptista, Henderson
  Risk–reward analysis of security investments, including analysis of national economy, industry, company, and market; introduction to portfolio management; emphasis on theory and computer methods. (Fall and spring)
6224 Financial Management (3) Barnhill, Cohen, Altinkilic
  Advanced case studies in domestic and international financial management; working capital policy, capital budgeting, financing with debt and equity, dividend policy, valuation, project finance, venture capital, and mergers and acquisitions. (Fall and spring)
6234 New Venture Financing: Due Diligence and Valuation Issues (3) Carayannis, Barnhill
  Fundamentals and practice of due diligence and screening of early-stage investment opportunities. Same as Mgt 6293.
6235 Futures Markets: Trading and Hedging (3) Staff
  Organization and regulation of futures markets. Alternative strategies for trading of futures contracts for possible hedging uses. High risk–high return investment alternatives. The use of futures markets to manage risks. Recommended: Fina 6221. (Fall and spring)
6236 Options (3) Jabbour and Staff
  Pricing of options on financial instruments. Role of options in risk management, trading strategies, hedging implications for national and international investors, financial engineering, and structure and regulation of option markets. Recommended: Fina 6221. (Fall and spring)
6237 Personal Financial Advising (3) Cohen
  For students preparing to be personal financial advisors; the combination of taxes, pensions, investing, budgets, estates and trusts, and insurance into comprehensive personal financial plans. Regulation, professional ethics, and the economics of advisory firms. Extensive use of computer spreadsheets and case studies. Recommended: Accy 6401. (Spring)
6238 Financial Engineering (3) Barnhill
  Valuation and risk management theory for bonds, forward contracts, swaps, options, exotic options, and interest rate options. Development of financial software, including Monte Carlo simulation modeling. Case studies of innovative solutions to investment, corporate finance, and financial institution management problems. (Spring)
6239 Applied Portfolio Management (3) Staff
  Synthesis of the theoretical concepts of securities analysis and portfolio management with the application of analyzing securities and building an actual portfolio. Prerequisite: permission of instructor.
6240 Real Estate Development (3) Staff
  Examination of the forces that shape real estate development; market analysis methods and techniques to evaluate project feasibility; the institutional and legal framework within which real estate development occurs and that influences controls, land value, and development potential. (Fall)
6241 Financing Real Estate Development (3) Hwang, Van Order
  Principles of real estate development finance; evaluating and measuring the investment attractiveness of real estate projects; obtaining, differentiating, and hedging sources of real estate funding; and appraising property. Incentives provided by local, state, and federal governments. (Fall and spring)
6242 Problems in Real Estate Valuation (3) Staff
  Applications of market analysis, valuation, and financial techniques to the real estate development process.
6248 Real Estate Development Cases (3) Staff
  Case study analysis of large-scale commercial real estate developments to gain comprehension of financial, political, legal, and technical complexities and constraints inherent in the real estate development process. Prerequisite: Fina 6221 or permission of instructor. Master of Science in Finance degree candidacy is prerequisite to Fina 6271 to 6282.
6271 Financial Modeling and Econometrics (4) Soyer, Wirtz
  Applied statistical and econometric analysis and modeling in finance. Methodologies include descriptive and inferential statistics, multivariate regression, time series analysis, and simulation modeling. Empirical studies are reviewed, and a series of research projects are undertaken. (Fall)
6272 Global Financial Markets (4) Yang, Rehman
  Theories explaining domestic and international interest rate and exchange rate structures. Roles of financial institutions and markets are investigated and forecasting methodologies are applied. (Spring)
6273 Cases in Financial Management and Investment Banking (4) Cohen and Staff
  Intermediate financial accounting; international and tax accounting. Emphasis on computer modeling to analyze and forecast a firm’s financial statements to reflect possible future performance. (Fall)
6274 Corporate Financial Management and Modeling (4) Handorf and Staff
  The foundation theories of business real investment and financing are summarized and applied in a simulation environment. Emphasis on understanding the causal connections between business decision making in a global economy and the resulting valuation of the firm’s financial assets. Financial modeling and forecasting applications. (Fall)
6275 Investment Analysis and Global Portfolio Management (4) Jostova, Savickas
  Financial markets and instruments viewed from the investor’s perspective. Analysis of the value of equity and fixed-income securities and the construction of efficient portfolios in a global financial market. Issues of market efficiency, tax structures, and investment funds; computer-based models. (Spring)
6276 Financial Engineering and Derivative Securities (4) Jabbour, Baptista
  Mathematical and theoretical foundations to value-derivative securities, including options, futures, and swaps; hedging and trading applications of these contracts. Arbitrage trading across cash and derivative markets and its role in maintaining equilibrium prices. (Summer)
6277 Comparative Financial Market Regulation and Development (4) Staff
  Theory and current status of comparative regulation of domestic and international financial institutions and markets. Effects on country economic development and international trade. (Fall)
6278 Financial Theory and Research (4) Peyser, Bajeux-Besnainou
  Theoretical constructs of business investment and financing decisions and of financial asset pricing structures in domestic and international environments. Analytical and numerical models are developed, and empirical studies are evaluated. (Spring)
6279 Real Estate Finance and Fixed-Income Security Valuation (4) Agca, Hwang
  A primary focus is the application of financial theory to real estate investment and financing. Another is fixed-income security valuation and design and portfolio management. Application of decision support and artificial intelligence systems in making financial decisions. (Spring)
6280 Financial Institution Management and Modeling (4) Handorf
  Financial institution asset and liability management. A dynamic simulation model is developed and run under varying macroeconomic conditions, as additional layers of complexity, involving multinational investment, borrowing, and hedging, are added. (Summer)
6281 Cases in Financial Modeling and Engineering (4) Cohen, Jabbour
  Through a series of cases and simulations, students address real financial problems faced by domestic and international companies, including capital budgeting, capital structure, mergers and acquisitions, and project financing. The negotiating process by which many financial situations are resolved is emphasized. (Summer)
6282 Advanced Financial Econometrics and Modeling (1 to 4) Jabbour
  Students design and execute a financial research study, applying knowledge developed throughout the M.S.F. program. Class sessions vary from lectures on research methods to colloquia by outside professionals to critique studies. (Summer)
6290 Special Topics (3) Staff
  Experimental offering; new course topics and teaching methods. May be repeated once for credit.
6297 International Management Experience (3) Staff
  Same as IBus 6297/Mgt 6297/Mktg 6297/SMPP 6297. May be repeated for credit.
6298 Directed Readings and Research (2 to 4) Staff
6299 Thesis Seminar (3) Staff
6999 Thesis Research (3) Staff
8311 Seminar: Public–Private Sector Institutions and Relationships (3) Staff
  Same as SMPP 8311.
8321 Seminar: Financial Markets Research (3) Savickas
  Market efficiency, utility testing, the capital asset pricing model, the arbitrage pricing theory, the option pricing model, and aggregate market volatility.
8322 Seminar: Corporate Finance Research (3) Pirinsky
  Capital budgeting, capital structure issues, dividend policy, microeconomic foundations, mergers, and agency theory.
8323 Seminar: Continuous-Time Finance (3) Bajeux-Besnainou, Savickas
  Review of the stochastic calculus methods needed for continuous-time pricing models. The most important continuous-time models, including pricing of derivative securities, consumption-portfolio selection models, continuous-time capital asset pricing models, consumption-based capital asset pricing models, continuous-time arbitrage pricing theory, and different yield curve models.
8324 Seminar: Financial Markets and Institutions (3) Peyser
  Multi-period asset pricing, term structure of interest rates, market imperfections and institutional factors, auctions, manipulation, derivative markets, market microstructure, and financial institutions.
8397 Doctoral Seminar (1 to 3) Staff
8998 Advanced Reading and Research (arr.) Staff
  Limited to doctoral candidates preparing for the general examination. May be repeated for credit.
8999 Dissertation Research (arr.) Staff
  Limited to doctoral candidates. May be repeated for credit.
 

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© 2013 University Bulletin
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Information in this bulletin is generally accurate as of fall 2012. The University reserves the right to change courses, programs, fees, and the academic calendar, or to make other changes deemed necessary or desirable, giving advance notice of change when possible.