Finance

MBA/MS Program

Challenging and comprehensive, the Master's level Finance concentrations provide an understanding of how companies, institutions, and individuals make investments, raise capital, and manage risk in a dynamic financial environment. The investments section provides rigorous analytical tools for the measurement of risk-return tradeoffs in financial markets and the allocation of capital in the financial economy. The area of corporate finance provides an understanding of how capital is raised, risk is managed and companies are governed in the corporate sector. The finance curriculum also provides opportunities to better understand ways in which derivative securities can be used in managing risk in corporations as well as in investment portfolios.

Master's level finance courses can be taken as individual electives or combined into finance concentrations, one of which is the cross-functional Financial Engineering concentration. Financial engineers transform a scientific understanding of the finance field into mechanisms, products and management policies that better serve the strategic needs of business entities. Through the Mayer Fund, a select number of students obtain hands-on experience in securities analysis and portfolio management while earning course credit. Thus, the Mayer Fund bridges the gap between the finance theory learned in the classroom and actual practice in financial markets.

ALL ADMISSIONS QUESTIONS REGARDING THE MBA OR THE MS PROGRAM
SHOULD BE DIRECTED TOTHE OFFICE OF PROFESSIONAL PROGRAMS & SERVICES (PPS)

General Inquiries about MBA/MS Admissions

Amy Owens, Office Supervisor III
(301) 405-2283

General Inquiries for current students in the Part-Time MBA Program and Full-Time MBA Program

The Robert H. Smith School of Business
2308 Van Munching Hall
University of Maryland
College Park, Maryland 20742-1815
mba_info@rhsmith.umd.edu
(301) 405-2559 Phone
(301) 314-9862 Fax

Master's Level Courses

BUSI 640 Financial Management (3)
Prerequisites: BUSI 610; and BUSI 630. For BMGT majors only or permission of department.
Analysis of major corporate financial decisions using a market-oriented framework. Introduction to value techniques, capital budgeting principles and problems, asset valuation, operation and efficiency of financial markets, financing decisions, dividend policy and international finance. Additional topics, such as mergers and acquisitions may be covered.

BUSI 698 MBA Field Project (3-6)
For BMGT majors only. Repeatable to 6 credits if content differs. Not open to students who have completed BMGT 791. Formerly BMGT 791.
Experiential research project in the identification of management problems, the evaluation of alternative solutions and the recommendation for management.

BUFN 700 Investment Management (3)
Prerequisite: BUSI 640.
Methods of security selection and portfolio management in the debt and equity markets. Investment alternatives, securities markets, bond and common stock valuation, options, portfolio theory, and behavior of stock prices.

BUFN 702 Applied Security Analysis and Portfolio Management (3)
Prerequisite: BUSI 640.
The objective of BUFN 702 is to teach graduate finance students about: 1) the analysis and valuation of equity securities; and 2) the structure and function of global equity markets. Students will learn to analyze equity securities using the basic EIC (Economy/Industry/ Company) framework used in the financial industry, paying special attention to financial statement analysis. Students will also learn the primary valuation techniques used to estimate market values for equity securities. Additionally, students will learn about the global equity markets by studying U.S. and foreign equity market structure, types of securities, types of trades, pricing, liquidity, recent developments and expectations for the future.

BUFN 714 Advanced Financial Management (3)
Prerequisite: BUSI 640.
Advanced theories and concepts underlying financial decision making in the firm. Case studies, model building and applications in financial theory and management. Specific applications studied include initial public offerings, bankruptcy, valuation of different financial securities, hedging and risk management.

BUFN 716 Financial Restructuring and Strategy (3)
Prerequisite: BUSI 640.
Integration and extension of financial theory and principles to analyze financial, asset and ownership restructuring decisions. A valuation framework is used to study strategic decisions such as mergers and acquisitions, share repurchases, exchange offers, leveraged recapitalization, joint ventures, employee stock option plans, divestitures and spin-offs.

BUFN 722 Banking and Financial Institutions (3)
Prerequisite: BUSI 640.
The role of financial management in financial institutions. The economic role and regulation of financial institutions, analysis of risks and returns on financial assets and liabilities, and the structure of assets, liabilities and capital.

BUFN 724 International Financial Management (3)
Prerequisite: BUSI 640.
The role of financial management in the multinational firm. The financing and managing of foreign investments, assets, currencies, imports and exports. National and international financial institutions and markets.

BUFN 726 Futures and Options Contracts (3)
Prerequisites: BUSI 640.
The institutional features and economic rationale underlying markets in futures and options. Hedging, speculation, structure of futures prices, interest rate futures, efficiency in futures markets, and stock and commodity options. Current journal literature.

BUFN 731 Fixed Income Securities (3)
Prerequisite: permission of department. Repeatable to 6 credits if content differs.
Selected advanced topics in the various fields of graduate study in business and management.

BUSI 799 Master's Thesis Research (1-6)

Related Courses of Interest to Finance Students

BUSI 771 New Venture Financing (3)
Prerequisite: BUSI 640 or permission of department.
Development of skills for financing new ventures (both small and potentially large). Exploration of various funding sources. Criteria used in evaluation and decision process, including commercial banks, venture capital companies, small business investment companies, underwriters, private placement-financial consultants, mortgage bankers, and small business innovative research grants (U.S. Government). Topics will include: methods of financing, techniques for valuing new businesses, financial structure, and evaluation methods used by investors and lenders.

Areas of Specialization within Finance

Recommended Courses For Areas of Specialization Within Finance

Corporate Finance

BUSI 640 Financial Management
BUFN 714 Advanced Financial Management
BUFN 716 Financial Restructuring and Strategy
BUFN 700 Investment Management
BUFN 726 Futures and Options Contract

Investments and Investment Banking

BUSI 640 Financial Management
BUFN 702 Applied Equity Analysis and Portfolio Management
BUFN 716 Financial Restructuring and Strategy
BUFN 700 Investment Management
BUFN 726 Futures and Options Contracts
BUFN 724 International Financial Management
BUFN 731 Fixed Income Securities

Commercial Banking/Financial Institutions

BUSI 640 Financial Management
BUFN 700 Investment Management
BUFN 726 Futures and Options Contracts
BUFN 722 Banking and Financial Institutions
BUFN 724 International Financial Management
BMGT 731 Fixed Income Securities

International Finance

BUSI 640 Financial Management
BUFN 714 Advanced Financial Management
BUFN 700 Investment Management
BUFN 726 Futures and Options Contracts
BUFN 724 International Financial Management

Small Business Finance

BUSI 640 Financial Management
BUSI 771 New Venture Financing
BUFN 714 Advanced Financial Management
BUFN 700 Investment Management
BUFN 722 Banking and Financial Institutions