THE FINANCE CORE Finance 101 Financial Markets and Institutions (Formerly Finance 11) Prerequisite: Accounting 101, Economics 1 Offered every semester   This course is designed to familiariize students with the United States financial system,  its financial institutions, financial markets, financial institutions and financial instruments and its relationship to the aggregate economy, with which the manager must interact when making financial or investment decisions on behalf of companies, nonprofit institutions, government agencies or individuals..  Three credits.   Finance 102 Introduction to Corporate Finance Prerequisite: Finance 101, Accounting 101, Economics 1 Offered every semester   This course is designed to familiarize students with the theory of value and financial decision making in the firm relating to financial analysis and planning, working capital management, investing in fixed assets and the long term financing of assets-  concepts apply to any type of company or nonprofit institution. Three credits.   REQUIRED COURSES-THE FINANCE MAJOR Finance 115 Analysis of Financial Statements   (Formerly Finance 100) Prerequisite: Finance 101, 102, Accounting 101, 102 Offered every semester   Balance sheets and income reports are analyzed individually and comparatively for their value to owners, managers, investors and creditors. Determination of standard ratios and variations in earnings. Each student prepares an analysis of actual reports issued to the public. Three credits.  Finance 121 Investment Principles Prerequisite: Finance 101, 102, Accounting 101, 102 Offered every Fall   An analysis of the principles of investment: legal and financial characteristics of the various types of investment securities, including the study of types of investors and their needs; financial customs and taxation; operations or organized security markets with particular attention to customer relations and regulations of the Securities and Exchange Commission. Three credits.  Finance 125 Financial Strategies in an Uncertain Economy Prerequisite: Finance 101, 102, Quantitative Analysis 128 Offered every Spring   This course examines the problems of making major financial decisions in a dynamic, uncertain environment. External variables from the financial markets, real goods markets, labor markets, international markets, fiscal policy implementation and monetary policy implementation are identified. The problems of monitoring and forecasting these variables are considered. Decision making is practiced. Three credits.  FINANCE ELECTIVES (Not to be used to fulfill requirements for major) Finance 193 Independent Study For those students in their senior year who require one credit to meet the minimum requirements for graduation. Students must complete an Application for Independent Study to be approved by the Department Chair and the Dean.  Students are assigned to a faculty member who supervises the Independent Study course or project. Students may be required to write a research paper or take a comprehensive examination (or both) in addition to all other course requirements.   One to three credits.  Finance 195, 196 Honors Study Honors Study is designed to give outstanding students an opportunity to do independent work in their major under the guidance of a member of the faculty. There are no regular class meetings. To be eligible, students must have upper-junior or senior status, 12 credits in one of the major fields of the School of Business, Public Administration and Information Sciences, a cumulative quality point ratio of 3.00 and a 3.25 ratio in their major subject, and the permission of the Chair of the Department and the Dean.  Students must complete an Application for Honors Study outlining the research project or independent work to be undertaken and the name of the supervising faculty member.  A total of six credits of Honors Study is the maximum allowed.    Three credits per semester.   ADVANCED COURSES IN PROFESSIONAL  FIELDS OF FINANCE Security Analysis and Portfolio Management Finance 403 Security Analysis Prerequisite: Finance 101, 102,  Quantitative Analysis 128 Offered every Fall   Qualitative and quantitative techniques used in evaluating securities, as well as practical tests of investment theories. Emphasis is placed on the special problems encountered in analyzing industrial, railroad, public utility, bank and insurance company issues,stressing economic as well as financial considerations. Three credits.  Finance 404 Portfolio Management Prerequisite: Finance 101, 102, 121, Quantitative Analysis 128, 129 Offered every Spring   Considers the most efficient methods of meeting the investment objectives of investors, both for individuals and for institutions. Portfolio patterns are analyzed and appraised in terms of these objectives, economic changes, interest rate movements, tax and legal considerations. Three credits.  CORPORATION FINANCE Finance 405 Corporate Financial Policies Prerequisite: Finance 101, 102, Quantitative Analysis 128 Offered every Fall   A study of the cost of liquidity of an individual corporate enterprise. Problems are centered around the capital budgeting, structure of capital, cost of capital, and mergers, acquisitions and corporate reorganization. Three credits.  Finance 409 International Finance (Same as International Business 127) Prerequisite: Finance 101, 102 Offered every Spring Analysis of the balance of payments and the International Monetary System. Includes the role of reserves in international payments, the adequacy of international liquidity, a study of the proposed international monetary arrangements and the role of the World Bank, International Monetary Fund and other facilitating agencies. Three credits.   REAL ESTATE Finance 303 Real Estate Principles and Practices Prerequisite: Finance 101, 102 Offered every Fall   A study of the procedures and principles relating to the organization and management of the real estate business, such as brokerage, contracts, mortgages, deeds, title examination, interest in real property assessments, liens and encumbrances. This course and Finance 304 meet the educational requirements for the New York State Real Estate Brokerís License. Three credits.  Finance 304 Real Estate Investment Prerequisite: Finance 101, 102, 303 Offered every Spring   A study, in the specific area of real estate, of studies taxes, management, appraisal, valuation, leases, interest rates and sources of funds, secondary mortgage markets mortgage banking, subdivisions, developments and condominiums, public housing, urban renewal and rehabilitation, zoning and city real estate appraisal.Three credits.  INSURANCE Finance 305 Principles of Insurance: Property and Casualty I Prerequisite: Finance 101, 102 Offered on occasion A study of the basic principles upon which all forms of insurance are built, including the five important divisions of insurance: fire, marine, property, casualty and surety. Three credits.  Finance 306 Insurance Practice: Property and Casualty II Prerequisite: Finance 101, 102, 305 Offered on occasion   A study in greater depth of basic casualty and property risk coverages for personal and business coverages.  This course also covers New York State regulation of insurance brokers, professional ethics and other subjects prescribed for persons taking the New York State Insurance Brokerís License Examination. Three credits.  BANKING Finance 407 Financial Management of Banks Prerequisite: Finance 101, 102, 115, 121, 125 Offered on occasion   A study of asset management, liability management, liquidity management, futures hedging, credit analysis and loan portfolio management, investment portfolio management, capital funds management, real estate appraisal, trust services and bank client services, including IRA and Keogh planning. Three credits.  Finance 410 International Banking (Same as International Business 126) Prerequisite: Finance 101, 102 Offered on occasion   A survey of the organization, structure, function and regulation of the international activities of U.S. banks. An examination is made of the role and impact of the international financial and money market activities, along with a comparison of foreign banking structure and organization with those of U.S. banks. The international lending decision process and the use made of the international banking facilities by multinational firms are also analyzed. Three credits.    (top of page)