Applications for fall 2010 admission to the Financial Economics Certificate Program will be due on Monday, February 22, 2010.

Download the schedule of classes for Financial Economics 2009-2010 (PDF 97 KB) Updated 7/01/09

Principles of Finance, KELLG_FE 310-0. This foundation course for the Financial Economics Certificate is taken by all students in the fall. The course discusses the principles of finance, focusing on the effects of time and uncertainty on value. Students will learn valuation, including discounted cash flows; equity and debt valuation; the term structure of interest rates; portfolio theory; asset pricing; and efficient market theory. The course also examines firms’ financing decisions, including capital budgeting, capital structure, and payout policy. The finance course is also part of the Managerial Analytics Certificate curriculum.

Principles of Finance will be taught by Snehal Banerjee, Assistant Professor of Finance.

Investments, KELLG_FE 312-0
This course aims at developing key concepts in investments from the perspective of a portfolio manager. As such we will focus on both passive and active investment strategies for large portfolios and in particular risk management issues. A number of important topics such as value at risk, the use of financial derivatives and performance evaluation are introduced through applications.

The Investments course is taught by Dimitris Papanikolaou, Assistant Professor of Finance.

Derivatives, KELLG_FE 314-0
This course focuses on the use and pricing of forwards and futures, swaps and options. Strategies for speculation and risk management, no-arbitrage pricing for forward contracts, the binomial and Black-Scholes option pricing models and applications of pricing models in other contexts are discussed in depth.

Derivatives is taught by Victor Todorov, Assistant Professor of Finance.

Topics in Financial Economics, KELLG_FE 316-0
This course focuses on current issues in finance, and specific content varies from year to year.  During academic year 2009-10 the course covers the principal fixed income markets. Emphasis is given to understanding liquidity/financial crises such as that which hit the global markets in Fall 2008. The course also covers the basic analytical concepts used in the analysis of fixed income securities.

The Topics course in fixed income will be taught by Jonathan Carmel, The University of Chicago Booth School of Business Adjunct Assistant Professor of Finance

Related Courses for Further Study

Economics courses that are natural complements to Financial Economics include:

ECON 260-0 Accounting and Business Finance
ECON 311-0 Macroeconomics
ECON 349-0 Industrial Economics
ECON 380-1, 2 Introduction to Mathematical Economics
ECON 331-0, Economics of Risk and Uncertainty