Finance

The Finance major offers flexibility for developing careers in investments, financial institutions and corporate finance. The program offers analytical rigor, theoretical knowledge and teaching methods that stress hands-on applications. Finance internships historically have proven to be among the most numerous and challenging available. Students majoring in Finance may choose an optional concentration in Financial Management or Financial Services.

Prerequisites for all courses must be met. Students not enrolled in the College of Business BBA program cannot elect more than 30 credit hours in courses offered by the College of Business. BBA students must complete 12 credits outside their major to earn a minor.

Dearborn Discovery Core Requirement

The minimum passing grade for a Dearborn Discovery Core (DDC) course is 2.0. The minimum GPA for the program is 2.0. In addition, the DDC permits any approved course to satisfy up to three credit hours within three different categories. Please see the General Education Program: The Dearborn Discovery Core section for additional information.

Foundational Studies

Written and Oral Communication (GEWO) – 6 Credits

Upper Level Writing Intensive (GEWI) – 3 Credits

Quantitative Thinking and Problem Solving (GEQT) – 3 Credits

Critical and Creative Thinking (GECC) – 3 Credits

Areas of Inquiry

Natural Science (GENS) – 7 Credits

  • Lecture/Lab Science Course
  • Additional Science Course

Social and Behavioral Analysis (GESB) – 9 Credits

Humanities and the Arts (GEHA) – 6 Credits

Intersections (GEIN) – 6 Credits

Capstone

Capstone (GECE) – 3 Credits

Business Administration Core Requirements

BA 300Career Planning & Develop1
BA 320Proj Mgmt & Leadership Skills3
BA 330Managerial Communication3
BA 400Corporate Responsibility3
BE 401Managerial Economics3
BPS 451Strategic Management3
FIN 401Corporate Finance3
LE 452The Legal Environment of Bus3
Select one of the following:3-4
Info Systems in Management
Accounting Information Systems
and Accounting Info Sys Lab 1
MKT 352Mktg Principles and Policies3
OB 354Behavior in Organization3
Total Credit Hours31-32
1

Note: ACC 380/ACC 381 is a requirement for students pursuing an Accounting major.

Finance Major (without a concentration)

Required
ACC 357Intermediate Financial Acct 23
or ACC 358 Financial Reporting
FIN 407Investment Fundamentals3
Select five courses from the following:15
Cost Accounting and Analysis
Advanced Financial Acct 1
Business Conditions Analysis
Advanced Corporate Finance
Fin Mkts and Institutions
Financial Planning
Com Bank: Functn and Operatns
Corporate Fin Models and Appls
Derivative Markets
Fixed Income Securities
Seminar: Financial Management
Research:Financial Mgt
International Financial Mgmt
Advanced Computer Applications
Sales Mgmt & Personal Selling
Total Credit Hours21

Finance Major with a concentration in Financial Management

Required
ACC 357Intermediate Financial Acct 23
or ACC 358 Financial Reporting
FIN 402Advanced Corporate Finance3
FIN 407Investment Fundamentals3
IB 441International Financial Mgmt3
FIN 445Corporate Fin Models and Appls3
Select two courses from the following:6
Cost Accounting and Analysis
Advanced Financial Acct 1
Business Conditions Analysis
Advanced Corporate Finance
Derivative Markets
Seminar: Financial Management
Research:Financial Mgt
Advanced Computer Applications
Total Credit Hours21

Finance Major with a concentration in Financial Services

Required
ACC 357Intermediate Financial Acct 23
or ACC 358 Financial Reporting
FIN 406Fin Mkts and Institutions3
FIN 407Investment Fundamentals3
FIN 443Com Bank: Functn and Operatns3
FIN 447Derivative Markets3
Select two courses from the following:6
Business Conditions Analysis
Advanced Corporate Finance
Financial Planning
Fixed Income Securities
Seminar: Financial Management
Research:Financial Mgt
International Financial Mgmt
Advanced Computer Applications
Sales Mgmt & Personal Selling
Total Credit Hours21

Finance Minor

Prerequisites

ACC 298Financial Accounting3
ECON 201
ECON 202
Prin: Macroeconomics
and Prin: Microeconomics
6
MATH 104College Algebra4
or MATH 105 Pre-Calculus
DS 300Quantitative Model and Anlys I3

Minor Requirements

FIN 401Corporate Finance3
FIN 402Advanced Corporate Finance3
FIN 407Investment Fundamentals3
Select two courses from the following:6
Financial Reporting
Com Bank: Functn and Operatns
Corporate Fin Models and Appls
Derivative Markets
Seminar: Financial Management
International Financial Mgmt
Total Credit Hours15

Financial Planning Minor

Prerequisites

ACC 298Financial Accounting3
ECON 201
ECON 202
Prin: Macroeconomics
and Prin: Microeconomics
6
MATH 104College Algebra4
or MATH 105 Pre-Calculus
DS 300Quantitative Model and Anlys I3

Minor Requirements

FIN 401Corporate Finance3
FIN 407Investment Fundamentals3
FIN 411Financial Planning3
FIN 412Retirement Planning3
or ACC 360 Federal Income Taxation
Select one course from the following:3
Federal Income Taxation
Fin Mkts and Institutions
Retirement Planning
Sales Mgmt & Personal Selling
Total Credit Hours15

FIN 200     Personal Finance     3 Credit Hours

To survey financial planning for the individual. Topics include: bank relations, credit, borrowing money, savings, budgeting, investments, stocks and bonds, mutual funds, insurance, real estate, annuities, social security, income taxes, wills, trusts and estate planning.

Restriction(s):
Cannot enroll if Class is Graduate
Can enroll if College is Business

FIN 401     Corporate Finance     3 Credit Hours

Introduces the financial goals of a corporation with particular attention to the creation of value. The time value of money and the valuation of financial and real assets receive particular attention. Additional topics include risk and return, market efficiency, short-term financial management, and the domestic and international economic environments.

Prerequisite(s): (ACC 297 or ACC 298) and ECON 201 and ECON 202 and (DS 300* or IMSE 317)

FIN 402     Advanced Corporate Finance     3 Credit Hours

To provide the study of advanced topics, with particular attention to capital structure and dividend policy. Additional topics such as hedging, option pricing, agency theory, methods of financing, and corporate control will be presented. Global aspects of these topics will be addressed where appropriate. (YR).

Prerequisite(s): FIN 401

FIN 406     Fin Mkts and Institutions     3 Credit Hours

This course will introduce students to the financial markets, institutions, and instruments. The contents consist of the role and importance of the financial markets, interest rate determination and security valuation, the functions of money, bond, mortgage, stock, foreign exchange and derivative securities markets, the activities of financial institutions such as insurance companies, securities firms and investment banks, hedge funds, and pension funds, and management of credit and interest rate risks on the balance sheet of financial institutions. Familiarity with these topics is necessary for students to be competent in their future professional career in finance. (YR)

Prerequisite(s): FIN 401

FIN 407     Investment Fundamentals     3 Credit Hours

To study the current investment scene and analyze the characteristics of securities and the role in investment strategies. Topics include: securities markets, bonds, stocks, options, investment strategies, portfolio theories and management.

Prerequisite(s): FIN 401

FIN 411     Financial Planning     3 Credit Hours

This course introduces students to the primary areas of personal financial planning and helps them prepare for the professional financial planning examinations. Topics inlcude overview of the financial planning process, analysis of clients' needs; principles of personal income taxation; investment analysis and planning; retirement and estate planning; insurance planning and major types of insurance, ethics and standards of professional practice; and quantitative methods used in the anlaysis and derivations of decision rules. This course is designed for students who consider a career in financial advising, as well as those who are interested in managing their own personal finances. Students will practice critical thinking and business communication through written presentation of case analysis and recommendations. (YR)

Prerequisite(s): FIN 401

FIN 412     Retirement Planning     3 Credit Hours

This course introduces students to the nature of retirement planning analysis and the functions of major retirement plans and other investment-oriented employee benefits, as well as discusses advantages and disadvantages of the various wealth accumulation and tax deferral alternatives. Topics include the administration, characteristics and distributions of qualified corporate retirement plans such as pension and profit sharing plans; non-corporate retirement programs such as IRAs and Simplified Employee Pension (SEPs) plans. In addition, stock options, non-qualified deferred compensation plans, and other non-pension related benefits, as well as recent legislation will be examined. This course prepares students for career pursuit in financial advising or human resources management, as well as for the professional financial planning examinations. Students will practice critical thinking and business communication through written presentation of case analysis and recommendations. (YR)

Prerequisite(s): FIN 401 and FIN 411*

FIN 443     Com Bank: Functn and Operatns     3 Credit Hours

The topics to be included in the course are: commercial bank management, loan portfolio management and international banking. Specific aspects of the commercial banking environment, such as legislation and regulation, are also covered.

Prerequisite(s): FIN 401

FIN 445     Corporate Fin Models and Appls     3 Credit Hours

This course focuses on the analysis of financial decisions by applying theories and models to practical problems and cases. The subject coverage includes capital budgeting and financing (cost of capital, capital structure, dividend policy, etc.), working capital management (credit, inventory, bank relations, etc.), and other special topics (e.g., mergers and acquisitions). The coursework is appropriate for students seeking careers in corporate financial management, commercial lending, and investment banking.

Prerequisite(s): FIN 402

FIN 447     Derivative Markets     3 Credit Hours

Going beyond investment fundamentals, the focus of this course is on the more speculative aspects of investment. Speculative securities (such as options, warrants, and convertibles) and commodity futures (including financial and currency futures) are covered. The structure of the speculative markets and the role of speculation, such as hedging, risk-shifting, and the establishment of future-spot price relationship are analyzed in the context of a competitive market environment.

Prerequisite(s): FIN 401 and (FIN 402 or FIN 407 or FIN 443)

FIN 448     Real Estate Financing     3 Credit Hours

The purpose of this course is to introduce the student to the different types of mortgages, the sources of real estate loans and the workings of the secondary mortgage markets. It will also cover the application, loan processing, underwriting, and closing processes as well as closely related topics such as property appraisal and insurance, title insurance, and foreclosures.

Prerequisite(s): FIN 401

FIN 456     Fixed Income Securities     3 Credit Hours

The fixed income market, accompanied by the introduction of sophisticated financial engineering techniques, has grown enormously over the last two decades. Today, the fixed income market has been a vital segment of the global financial market. This course covers major topics associated with this market, including bond pricing, yields, and volatility; term structure of interest rates and yield curve; market structure and analytical techniques for Treasury, municipal, corporate bonds, mortgage-backed securities, asset-backed securities, and bond with embedded options. The fundamental objective of this course is to help students develop analytical skills for pricing fixed income securities and managing interest rate risk. In addition, materials covered in this course are compatible with the Common Body of Knowledge in Analysis of Debt Investments that is required by the Chartered Financial Analysts (CFA) examination. Students will not receive credit for both FIN 456 and FIN 656.

Prerequisite(s): FIN 407 and FIN 447 and (MATH 113 or MATH 115 or MPLS with a score of 116)

Restriction(s):
Can enroll if Class is Junior or Senior
Can enroll if College is Business
Can enroll if Major is Finance

FIN 484     Seminar: Financial Management     1 to 3 Credit Hours

To provide students with an opportunity for intensive study in current selected areas related to the research activities and/or professional activities of faculty members. Permission of College of Business.

Prerequisite(s): FIN 401

Restriction(s):
Can enroll if Class is Senior
Can enroll if College is Business

FIN 494     Research:Financial Mgt     1 to 3 Credit Hours

To provide the advanced student with the opportunity to undertake a research project under the supervision of a faculty member. At least two weeks prior to the term when such a course is to be elected, an interested student must submit to the dean of the school a written request for permission to elect a research course, on a form available in the school office. The request will include a description of the proposed research project. The dean will review the proposal with faculty members to ascertain availability of relevant faculty supervision and to establish appropriate credit. Permission of College of Business.

Prerequisite(s): FIN 401

Restriction(s):
Can enroll if Class is Senior
Can enroll if College is Business

 
*

An asterisk denotes that a course may be taken concurrently.

Frequency of Offering

The following abbreviations are used to denote the frequency of offering: (F) fall term; (W) winter term; (S) summer term; (F, W) fall and winter terms; (YR) once a year; (AY) alternating years; (OC) offered occasionally