|Required Lecture Courses||Minimum Requirement|
This course provides an exposition of advanced microeconomic theory. The first half of the course covers the classical theories of consumer and producer behavior. Topics include preference and utility representation, existence and properties of demands, expenditure functions, indirect utility, welfare evaluation, revealed preference, production sets, profit maximization, cost minimization, and duality. The second half of the course consists of introductions to a number of topics in market theory, game theory, general equilibrium theory, and the economics of uncertainty and information. These topics include perfect competition, oligopoly, monopoly, static and dynamic games of complete information, externalities, the fundamental theorems of welfare economics, existence of competitive equilibrium, expected utility, risk aversion, and principal-agent problem.
This course emphasizes the application of recent theoretical analysis on macroeconomic fluctuations and growth. It is an advanced course on contemporary macroeconomic theories with the aim to bring students to the frontier of current research.
||Econometric Theory and Applications
Econometrics applies statistical theories to economics. This course is an introductory course in econometric theory at the graduate level. It covers large sample theory, estimation methods, and hypotheses testing, with applications to microeconomics, macroeconomics and labor economics. The GAUSS computer program which provides Monte Carlo simulations will be introduced.
|FINA 6020 or
|Advanced Financial Management
This course provides an in-depth analysis of the financial management decisions of the corporate entity. Specific topics include: theories of agency costs and asymmetric information that underlie financial decisions; capital structure; dividend policy; equity capital and long-term debt funding; warrants and convertibles; and corporate risk management.
Prerequisite: FINA 5010 or permission from instructor
|FINA 6040 or
Investment Analysis and Portfolio Management
The purpose of this course is to provide a comprehensive introduction to fundamental analysis of securities. The materials covered will help students to become familiar with a variety of financial instruments traded in the equity and fixed-income markets, to understand the theoretical foundation for, and practical implementation of, widely used asset pricing theories, and to develop essential skills needed to succeed as an investment professional. (Eligible for claiming concentration option in Finance)
Prerequisite: FINA 5010 or permission from instructor.
Investment and Portfolio Analysis
The foundations underpinning investment decisions are examined alongside portfolio management in this course. Topics include the risk-return tradeoff, the capital asset pricing model, the arbitrage pricing model, security analysis, portfolio selection, performance evaluation, hedging strategies, bond analysis, and an introduction of the uses of derivative securities in portfolio management. A delicate balance will be maintained between theory and practical applications.
Prerequisite: FINA 5010 or equivalent
||Seminar in Financial Economics
This course covers advanced topics in financial economics such as: individual investment decisions under uncertainty with complete markets and under constraints. Viability and state-price densities, Equivalent martingale measures, general equilibrium and rational expectations, foundations of the theory of information.
||Seminar in Corporate Finance
It focuses on financial decisions of the firm. It provides advanced theory and empirical investigations of dividends, capital structure, mergers and takeovers.
||Research Methodology in Accounting
The course is designed to equip students with skills necessary for advanced research in accounting areas. Topics covered will include identification of research problems, development of research hypotheses, research design, data collection and processing, statistical tests, interpretation of results, and writing of research reports. Selected papers and topical research issues will also be discussed. The emphasis will be on the application of the research methods to solving accounting-related problems.
||Issues in Financial Accounting
Current research topics in financial accounting. These include accounting information and capital market behavior, the economic consequences of both mandatory and voluntarily public announcements made by firms, effects of agency costs and debt covenants on the behavior of firms' reporting choices, fundamental analysis of accounting data, compensation schemes and financial reporting.
||Issues in Managerial Accounting
Current research topics in managerial accounting. These include analysis of information values, theory of syndicates and teams; organization form and hierarchy, advanced topics in cost allocations and transfer pricing, decision models in management accounting, management accounting for multi-national corporation, agency issues in executive contracts, contingency theory and design of management accounting systems, behavioral dimensions of management accounting.
||Current Topics in Accounting Research
The course explores current topics in a specific area of accounting research. Through a combination of lectures and seminars, students discuss recent literature and academic works to enhance their knowledge and skill to conduct research in accounting utilizing tools and paradigms at the frontier of such technologies.
|Required Thesis Research Courses||Minimum Requirement|
|ACCT 8003 or
ACCT 8006 or
To monitor students' progress in thesis and research.
|1 course every term
|Elective Lecture Courses|
||Financial Accounting Theory
This course serves to establish a frame of reference for evaluating accounting choices and to categorize the strength of authority for a particular accounting treatment in a hierarchical manner. This is accomplished by exposing the students to the empirical research in financial accounting and by creating an awareness of the endogenous factors affecting decisions made by accountants in public practice. Two major themes are integration of cash flow and accrual based measures of income from a theoretical framework and synthesis of accounting choice questions based on the asset valuation vs. income measurement dichotomy. The end result should be an understanding of both the structure and the process for accounting policy-making.
||Comparative Financial Reporting
This course examines the evolution of accounting under different political and economic systems and explores current theory and research on the impact of local institutional features on financial reporting and disclosure practices. In so doing, it provides participants with a conceptual framework for analyzing the economic causes and consequences of differences in reporting and disclosure practices and their impact on international commerce, finance, and investment. The course includes discussion of recent and proposed changes in reporting standards with a focus on the local and Mainland reporting environment.
||Management Control Systems
Designed properly, management control systems serve to influence and structure employee behavior in ways that increase the likelihood that organizational objectives are achieved or exceeded. This course provides an advanced-level examination of the alternative control mechanisms available to organizations, theories underlying their use, and their intended and often unintended effects on behavior. Particular attention is directed to the critical decisions underlying the design of effective accounting based control systems including choice of responsibility structure, performance measures, performance standards, and incentive systems, and to emerging issues in corporate governance.
||Corporate Governance: A Global Perspective
The OECD Guidelines for Corporate Governance identify four elements namely objectives, transparency, benchmarks and accountability as key factors that transcend both legal and national boundaries. As a concept it delineates the rights and responsibilities of each group of stakeholders in the company by providing for appropriate checks and balance to be incorporated into the process of performance, decision making and monitoring. This course will address issues within in the rubric of corporate governance from an accounting and legal perspective. (Eligible for claiming concentration option in China Business)