California State University, Fullerton

Finance


DEPARTMENT CHAIR
John Erickson

DEPARTMENT OFFICE
Steven G. Mihaylo Hall 5113

DEPARTMENT WEBSITE
http://www.business.fullerton.edu/finance

PROGRAMS OFFERED
Bachelor of Arts in Business Administration
Concentration in Finance
Joint Emphasis in Accounting and
Finance
Master of Business Administration
Concentration in Finance

FACULTY
Vipin Agrawal, Mehmet Akbulut, Aziz Alimov, Ajay Bhootra, Dean Capper, Carolyn Chang, Donald Crane, John Cross, Amadeu DaSilva, Dipasri Ghosh, John Erickson, Joseph Greco, Michael LaCour-Little, Tsong-Yue Lai, Yuming Li, Yue Liu, Weili Lu, Michael Milligan, Yun Park, Catherine Richert, Mark Hoven Stohs, Donald Valachi, Blaine Walgren, Xiaoying Xie, Jing Yang

ADVISERS
The Business Advising Center, Steven G. Mihaylo Hall 1201, provides information on admissions, curriculum and graduation requirements, registration and grading procedures, residence and similar academic matters. In addition, advising on curriculum content and career opportunities may be obtained from the chair of the Finance Department or from:

Financial Management
   Vipin Agrawal, Yun Park
Personal Financial Planning
   Donald Crane
Real Estate
   Michael Lacour-Little, Donald Valachi
Securities and Investments
   Ajay Bhootra
Insurance and Financial Services
   Weili Lu
International Finance
   Joseph Greco

INTRODUCTION
In choosing their coursework, students are advised (but not required) to choose one of the five areas (advisory tracks) of study within the finance concentration. The corporate/international financial management track is designed to provide entry-level skills for students interested in the financial management of a non-financial firm. The international component of this track is designed for students who are interested in international corporate financial management. The financial institutions track may lead to employment in banks or savings and loan associations. The investment/financial planning track is designed for students interested in positions with brokerage firms or financial planning firms. The insurance and financial services track is designed for students interested in positions with insurance firms. The real estate professions track is designed for students interested in careers in commercial brokerage, property management, property development and real estate finance. Students may also combine courses from different advisory tracks to meet a specialized educational objective.

Finance Department Scholarships
Alliant Risk Services Scholarship
American International Companies (AIG) Scholarship
AmWIMS Scholarship
Aon Risk Services Scholarship
Auto Club Insurance Scholarships
Bill Doomey Memorial Scholarship
CPCU of Orange County Insurance Scholarship
CSU Real Estate Scholarships
Financial Executive Scholarship
Gamma Iota Sigma (GIS) Scholarship
George Joseph Insurance Scholarship
Gutmann Family Scholarship
HCC Surety Group Insurance Scholarship
Insurance Industry Charitable Foundation Awards
Insurance Professionals of Orange County Award
L.A. RIMS Insurance Scholarships
L.A. RIMS Outstanding Student Scholarship
Liberty Mutual Scholarship
Mercury Outstanding Insurance Student
Millennium Scholarship
New York Life Insurance Scholarships
O.C. RIMS Insurance Scholarships
Pacific Life Insurance Scholarships
Philadelphia Insurance Scholarship
Robitaille Family Student Athlete Award
Surety Underwriters of Southern California
Terlecky Family Scholarship
The Travelers Companies, Inc.
Tutton Insurance Scholarship
Wang Family Insurance Scholarships
Zenith Outstanding Insurance Student

BACHELOR OF ARTS IN BUSINESS ADMINISTRATION
See “Business Administration, Finance Concentration.”

MASTER OF BUSINESS ADMINISTRATION
See “Business Administration, MBA”

FINANCE COURSES
Courses are designated as FIN in the class schedule.

FIN 310    Personal Financial Management

Description: Financial problems of the household in allocating resources and planning expenditures. Housing, insurance, installment buying, medical care, savings and investments. Special financial planning problems faced by minorities and women. May not be used to fulfill the concentration requirement in finance.
Units: (3)

FIN 320    Business Finance

Description: Prerequisite: Accounting 201A. Corequisites: InfoSys/DecSci 361A and Business Admin 301. Financing business enterprises; financial planning and control; analysis of alternative sources and uses of combinations of short-, intermediate- and long-term debt and equity. Cost of capital and capital investment decisions; capital budgeting analysis and valuation; working capital management; corporate financial decisions in an international environment.
Units: (3)

FIN 331    Working Capital Management and Computer Applications

Description: Prerequisite: Finance 320. Analysis of working capital management and policy, liquidity measurement, sources of financing for periods of cash deficits; management of accounts receivable and inventories; financial forecasting; and short-term financing.
Units: (3)

FIN 332    Theory of Corporate Finance

Description: Prerequisite: Finance 320. Risk and return analysis. Introduction to asset pricing models for valuing debt and equity. Analysis of capital budgeting, capital structure and dividend theories, long-term financial planning and firm valuation.
Units: (3)

FIN 335    Financial Analysis for Investors and Lenders

Description: Prerequisite: Finance 320. Interpretation of financial statements from the perspective of the financial analyst and creditor. Economic meaning of financial statement data for the purpose of evaluating a company’s financial performance.
Units: (3)

FIN 340    Introduction to Investments

Description: Prerequisite: Finance 320. Institutional characteristics of securities markets, security valuation and trading methods, fundamental and technical analysis, selection and management of securities, role of the capital asset pricing model in investing, options and futures markets, portfolio analysis and mutual funds.
Units: (3)

FIN 342    Capital and Money Markets

Description: Prerequisite: Finance 320. Capital and money markets in the American and international economies; markets for new corporate and government issues; secondary markets; use of derivative securities for hedging; factors influencing yields and security prices.
Units: (3)

FIN 351    Introduction to Real Estate

Description: Prerequisite: Finance 320. Real estate principles, practices and investment decisions. Equity investment, finance, legal aspects, practices, principles, property development, real estate administration in the public sector, real estate market analysis, and valuation.
Units: (3)

FIN 352    Real Estate Finance

Description: Prerequisite: Finance 351. Financial institutions and real estate credit. Sources and uses of capital (funds) in financing real estate transactions. Money and capital markets and their effect on credit availability. Mortgage mechanics and the workings of primary and secondary markets.
Units: (3)

FIN 353    Real Estate Valuation

Description: Prerequisite: Finance 351. Comprehensive coverage of the basic concepts and principles of real estate valuation. Use of the three approaches to valuation for the appraisal of residential and income-producing properties. Role of valuation in real estate investment. Government regulation of appraisers.
Units: (3)

FIN 355    Real Estate Investment Analysis

Description: Prerequisite: Finance 320. Alternative analytical techniques in evaluating real estate investments. Tax aspects, measurement of investment returns, application of computer models to investment decisions. Lecture, discussion and case analysis of major investment types – raw land, apartment houses, commercial and industrial uses.
Units: (3)

FIN 360    Principles of Insurance

Description: Prerequisite: Finance 320. Analysis of the risk management process, introduction to property and liability insurance, employee benefits and financial planning. Overview of the insurance industry and insurance problems.
Units: (3)

FIN 370    International Business Finance

Description: Prerequisite: Finance 320. Financing problems of the multinational business. International financial environment, taxation of foreign income, the cost of capital in international capital and money markets, problems of risk in foreign investments and financial techniques for the operation of the multinational firm.
Units: (3)

FIN 371    Export-Import Financing

Description: Prerequisite: Finance 320. Institutional arrangements, methods and techniques used to finance international trade. Government and financial institution services. Risk-return aspects of international sales, insurance needs, the use of letters of credit, international factoring, accounts receivable insurance and other financing techniques. Review of required export-import documentation.
Units: (3)

FIN 373    Asia-Pacific Financial and Security Markets

Description: Prerequisite: Finance 320. Overview of financial markets in Japan, Korea, Taiwan, China, Hong Kong, Singapore and Southeast Asia. Historical perspectives, regulations, more recent liberalization and internationalization and institutional technical aspects of the stock, bond and other financial markets.
Units: (3)

FIN 410    Theory and Practice of Personal Financial Planning

Description: Prerequisite: Finance 320. Developing, implementing and monitoring comprehensive personal financial plans. Risk management, investments, taxation, retirement and estate planning, professional practices.
Units: (3)

FIN 411    Retirement and Estate Planning

Description: Prerequisite: Finance 320. Development of retirement objectives, needs and financial condition. Forecasting retirement income from employer based retirement plans, IRAs, insurance policies, social security, and investment programs. Medicare, medical, group life and health benefits after retirement. Property titling, wills and transfers in contemplation of death.
Units: (3)

FIN 425    Commercial Bank and Financial Institution Management

Description: Prerequisite: Finance 320. Solution of financial institution problems. Major financial intermediaries and the decision-making problems they face. Regulation and its effect on management operations. Group problems and case studies.
Units: (3)

FIN 432    Financial Forecasting and Budgeting

Description: Prerequisite: Finance 320. Forecasting in financial management; profit planning and control process; goals, technical procedures, and effects of budgeting; mechanics of forecasting and budgeting, follow-up and control.
Units: (3)

FIN 433    Problems in Business Finance

Description: Prerequisite: Finance 332. Case studies. Group problems and case studies relating to estimation of funds requirements, long-term financial planning, evaluation of cash flows, financing acquisitions and mergers, capital budgeting and cost of capital. Team-building, leadership and computer-assisted presentation skills. Not applicable for graduate degree credit.
Units: (3)

FIN 435    Capital Markets and Fixed Income Analysis

Description: Prerequisite: Finance 320 or 517. Corequisite: Finance 340 or 541. Fixed income markets, including the price dynamics and risk profiles of various fixed-income securities, derivatives, yields, duration, credit analysis of bonds, portfolio management strategies, calculating performance and identifying factors driving fixed income returns.
Units: (3)

FIN 442    Advanced Investment Analysis

Description: Prerequisites: Finance 340 and InfoSys/DecSci 361A. Securities markets and company analysis, security valuation models, the CAPM and the APT, option pricing and portfolio models. Practical application of investment theory and recent literature. Students may not receive credit for both Finance 442 and 541.
Units: (3)

FIN 444    Options and Futures

Description: Prerequisite: Finance 340. Put and call options, option pricing theory and models. Financial futures pricing, hedging strategies and models. Institutional characteristics of futures trading. Options and futures on stock indices. Options on futures, theoretical relationship between options and futures.
Units: (3)

FIN 454    Real Estate Market Analysis

Description: Prerequisite: Finance 351. Factors and influences of urban growth and development. Economic factors and real estate supply and demand. Location theory and urban growth patterns. Public policy as a factor in real estate development. Analysis of real estate markets.
Units: (3)

FIN 461    Business Property and Liability Risk Management

Description: Prerequisite: Finance 360. Duties and functions of a corporate risk manager, the major commercial property liability lines, including business income, general liability, commercial auto workers compensation, business owner insurance and operation of property liability insurers.
Units: (3)

FIN 462    Life and Health Insurance

Description: Prerequisite: Finance 360. Analysis of various types of life annuity and health insurance contracts, major employee benefit plans adopted by corporations and the organization and management of life and health insurance companies.
Units: (3)

FIN 463    Professional Ethics, Corporate Compliance and Regulation

Description: Prerequisites: Finance 320 and Management 246. How organizations can best assess and manage their exposure to legal, regulatory and ethical issues through corporate compliance programs.
Units: (3)

FIN 464    Insurance Marketing and Distribution

Description: Prerequisites: Finance 320 and Marketing 351. Overview of practices and procedures involved in insurance marketing and distribution; Analyzes insurance marketing environment, marketing strategies and product promotion; introduction to insurance distribution channels and sales force management.
Units: (3)

FIN 495    Internship

Description: Prerequisites: Finance 332, a concentration in finance, consent of department internship adviser, junior standing, 2.5 GPA and one semester in residence at the university. Also open to international business majors. Planned and supervised work experience. May be repeated for credit up to a total of six units. Credit/No Credit only.
Units: (1-3)

FIN 499    Independent Study

Description: Prerequisites: Finance 332, 340 and consent of the department chair. Open to undergraduate students desiring to pursue directed independent inquiry. May be repeated for credit. Not open to students on academic probation.
Units: (1-3)

FIN 517    Managerial Finance

Description: Prerequisite: Accounting 510 and classified MCBE status. Modern theory and practice of financial management. Net present value and the time value of money. Basic principles of risk and return, from an asset pricing perspective, as applied to the valuation of debt and equity. Capital budgeting and forecasting. Capital structure and dividend theory. Firm valuation from a value-based management and corporate governance perspective.
Units: (3)

FIN 523    Seminar in Corporate Financial Management

Description: Prerequisites: Finance 517 or equivalent and classified MCBE status. Analysis of financial decision-making process through case studies and seminar presentations. Current financial theory and models. International applications.
Units: (3)

FIN 528    Financial Economics

Description: Prerequisite: Finance 517. Valuation or corporate liabilities and other securities. Economic decision-making under uncertainty and asset pricing theories are analyzed rigorously. Other topics may include optimal capital structure, the market for corporate control, or macroeconomic aspects of finance.
Units: (3)

FIN 533    Seminar in Financial Administration

Description: Prerequisites: Finance 517 and classified MCBE status. Optimal financing and asset administration; advanced techniques of capital budgeting; application of analytical methods to the administration of the finance function of the business firm.
Units: (3)

FIN 541    Seminar in Investment Management

Description: Prerequisites: Finance 517 or equivalent and classified MCBE status. Problems of investment and portfolio management; concepts of risk evaluation and investment criteria; analysis of interest rate movements; investment valuation and timing; regulation and administrative problems of the industry. Students may not receive credit for both Finance 442 and 541.
Units: (3)

FIN 543    Entrepreneurial Finance

Description: Prerequisites: Finance 517, Accounting 510 and Accounting 511. Financing a new/small firm, including forecasting the firm’s investment needs, raising short-term funding and banking relationships, managing working capital, making fixed asset investments and managing risk.
Units: (3)

FIN 551    Seminar in Real Estate Investment

Description: Prerequisites: Finance 517 or equivalent and classified MCBE status. Problems of real estate investment; concepts of evaluation and investment criteria; analysis of real property values; real estate development and financing. Case studies.
Units: (3)

FIN 570    Seminar in International Financial Management

Description: Prerequisites: Finance 517 or equivalent and classified MCBE status. Financial problems of the multinational firm. International financing instruments, capital investment decisions and constraints on the profitability of multinational businesses.
Units: (3)

FIN 597    Project

Description: Prerequisites: Finance 517 or equivalent and classified MCBE status, consent of instructor and approval by Department Chair. Directed independent inquiry. Not open to students on academic probation.
Units: (3)

FIN 599    Independent Graduate Research

Description: Prerequisites: Finance 517 or equivalent and classified MCBE status, consent of instructor and approval by Department Chair and Associate Dean. May be repeated for credit. Not open to students on academic probation.
Units: (1-3)

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