Research Seminar

Seminar Coordinators: Prof. Wenxi JIANG and Prof. Yizhou XIAO

Finance

Required Lecture CoursesMinimum Requirement
FINA 6020 or 
FINA 6092
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: FINA5010 or permission from instructor 
4 courses
FINA 6040 or
FINA 6112
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: FINA5010 or equivalent
 
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: FINA5010 or permission from instructor. 
ECON 5011 Microeconomic Theory
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 introduction 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. 
ECON 5121 Econometric Theory and Applications
Econometrics applies statistical theories to economics. This course is an introductory course in economic 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 6232 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. 
3 courses
FINA 6242 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. 
FINA 6252 Empirical Methods in Finance
It provides rigorous treatment of current empirical research in finance. It covers issues in testing interemporal and multifactor pricing models, dealing with temporal dependence in asset returns, events study analysis, numerical analysis of derivative securities, nonlinearities in financial data. 
Required Thesis Research CoursesMinimum Requirement
FINA 8003 or 
FINA 8006 or
FINA 8012

Thesis Research
To monitor students' progress in thesis and research. 

1 course every term
Elective Lecture CoursesMinimum Requirement
ACCT 5111 Corporate Financial Reporting
This course provides a graduate-level overview of the principles and concepts that underlie corporate financial reporting and the economic consequences of accounting choices. The course focus is on developing the skills required to interpret the information contained in financial statements and its use in decision-making rather than on the skills required to prepare financial statements. Topics include the use of accounting information in evaluating firm performance, and corporate reporting policies. 
2 courses
ACCT 7190 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. 
ACCT 6170 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) 
ECON 5021 Macroeconomic Theory
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. 
FINA 6132 Derivatives Markets
This course examines the valuation and market structure of derivative securities. Topics include the role of derivative securities, the determination of forward and futures prices, hedging strategies using futures, trading strategies with futures, properties of options, the pricing of stock options, options on indices, currencies and futures contracts, risk analysis, applications of option pricing models, biases in the Black-Scholes model, interest rate options, exotic options, risk management with options, and trading strategies with options. The course involves extensive and intensive use of computer and relevant software packages.

Prerequisite: Financial Management or permission from instructor 
FINA 6152 Fixed-income Securities Analysis
The focus of this course is on the valuation of fixed-income securities and investment techniques in managing fixed income portfolios. Topics include the term structures of interest rates and forward rates; bond pricing, interest rate and reinvestment risks; risk and hedging in bond portfolio management; duration, convexity and portfolio immunization; corporate bonds, emerging-market bonds and default risks; fixed-income securities with embedded options; callable and convertible bonds, mortgage-backed securities; interest rate derivatives; and interest rate futures, swaps, caps and floors.

Prerequisite: Financial Management or permission from instructor 

 

Remarks
Minimum graduation requirement on lecture courses : 27 units