MGT 408 - Finance (Core Course)

Course Description:This course is designed to provide you with a strong foundation of the fundamental concepts in corporate finance and investments. Broad topics include discounting and present values, market efficiency, risk and return, bond and stock valuation, CAPM, weighted average cost of capital, the Modigliani-Miller proposition, debt financing, determinants of corporate debt policy, firm valuation, and an introduction to financial and real options. We will seek a balance between theoretical paradigms, the empirical facts, and their applicability to real world issues. Emphasis will be placed on general principles and problem solving. Lectures, homework, and exams will concentrate on both quantitative and conceptual foundations. If you master the course material, you will be comfortable in applying the basic principles of corporate finance and will be well prepared for more advanced courses in finance.

Syllabus Link: MGT408_Syllabus.pdf

MGT 282 - Behavioral Finance

Course Description: The field of finance has developed a successful paradigm based on the notions that investors and managers are generally rational and the prices of securities are generally “efficient.” In recent years, many empirical and experimental studies have challenged the rational paradigm as insufficient to describe various features of financial markets. In this course we will review that evidence and use insights from psychology to guide and develop alternative theories of financial markets. We also will examine how the principles of behavioral finance complement the traditional paradigm and shed light on investors' trading patterns, the behavior of asset prices and corporate finance.

When evaluating the research which challenges market efficiency, this course will require students to
work with large amounts of financial data. Thus, this course will be data-intensive. The course also
requires students to use SAS software (which is an industry standard) to analyze financial data, so there
will be a substantial learning curve for students becoming familiar with the common financial datasets
(CRSP and COMPUSTAT) as well as the common financial statistical software (SAS). However, for
students pursuing a career in finance, these will be valuable tools.

Syllabus Link: MGT282BF_Syllabus.pdf

MGT 282 - Valuation

Course Description: The course focuses on understanding valuation in finance. It answers the question: given a set of characteristics, how should an asset be priced?

We will discuss the advantages and disadvantages of several valuation approaches, including the WACC
approach, the APV approach, multiples and real option valuation. We also discuss the role capital
structure plays in valuation. We will build on the knowledge you already have about some of these topics,
but deal with the issues in much greater depth and detail. Moreover, we will focus a substantial part of the
course on detailed discussions of case studies. Both lectures and case discussions are vital parts of the

The objective of this course is to learn how to apply some of the most important concepts of corporate
finance to many practical situations – and, in particular, how to perform various kinds of valuations.
Learning by doing will be important. At the end of the course, you should be able to do all types of
valuations you are likely to encounter in practice. The course also aims to deepen your knowledge and
understanding of other important areas of corporate finance, including capital structure, real options, and
financial distress. The course will equip you with the skills and knowledge that everybody practicing
corporate finance should have.

Syllabus Link: MGT282VA_Syllabus.pdf

BUSI 580 - Investments (at UNC)

Course Description: The main objective is to expose students to the fundamental concepts of
investment theory and financial markets. This course will be highly quantitative and include
topics like arbitrage, portfolio selection, the Capital Asset Pricing Model, fixed income securities,
and option pricing. An overview of financial instruments, securities markets and trading is also
presented. The course is theoretical, but whenever possible, I try to discuss the implementation
in practice of the theory presented.

Syllabus Link: BUSI580_Syllabus.pdf