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Finance

 
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Special Features Offered by the Finance Department

Early Finance Options
We offer students who are seeking finance-related careers the option to start their finance course work in the first half-semester (starting in September) of their first year. While the finance core is offered in the second half-semester (starting in November) of their first year, students who are able to waive one of the early core courses can take a finance elective in the first half-semester in lieu of the finance core. For students who are unable to waive any of the early core courses, we offer an accounting course before school starts. Those who pass this course can waive the accounting core course and instead take the finance elective. This arrangement makes our students competitive in the finance job market by enabling them to take more finance electives before internship interviews.


Tozzi Finance Center
The John R. and Georgene M. Tozzi Electronic Business and Finance Center at the Ross School of Business is a state of the art trading room that hosts several MBA courses and software training sessions each semester. The Center provides access to a number of specialized software and data services, including Factset, Bloomberg, Barra, and eSignal. Using the tools available in the Tozzi center, Ross students have successfully managed a portion of the University’s endowment since 2000. Students also participate in a variety of trading simulations in the center.


Center for Venture Capital and Private Equity Finance
The Center for Venture Capital and Private Equity Finance, part of the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies, presents the Michigan Growth Capital Symposium each spring. The conference continues to be the Midwest's leading conference where hundreds of cutting-edge technology entrepreneurs and the best venture capitalists in the region and nationwide make invaluable connections. A carefully screened group of companies, representing industries ranging from information technology, life sciences, alternative energy and nanotechnology, present for an audience of venture capitalists, angel investors and institutional investors.


RSB Student Managed Fund
Ross students get hands-on experience with the RSB Student Managed Fund, a portion of the University’s endowment. Student's manage the fund as part of the requirement for a 3-credit, second-year MBA elective FIN 725.  We also provide first-year MBA students exposure to portfolio management through a 0.75-credit course (FIN 525) that requires them to make presentations to pitch stocks for the fund.


UM/ULI Real Estate Forum
The UM/ULI Real Estate Forum is a joint effort by the University of Michigan and the Urban Land Institute. The Forum is dedicated to enhancing real estate education both professionally and on the university level and conducts annual symposium on real estate and urban planning issues.


Financial Engineering Program
Ross School, in collaboration with Industrial Engineering and Mathematics departments, offers a
Masters in Financial Engineering Degree
.

Action-Based Learning

·      FIN 525: Introduction to Portfolio Management - This course offers a brief introduction to the methods and tools of quantitative portfolio management.  The course discusses stock screening, relative valuation, and catalytic analysis.  At the end of the course, students present trading recommendations for the RSB Student Managed Fund.  This course is an introduction to the material covered in the follow up course, Accounting/Finance 725.  It is designed primarily for first year MBA students.  Second year students interested in this material are encouraged to take Acc/Fin 725.

·     FIN 629: Financing Research Commercialization – A practicum, offering an opportunity to apply collective team work of a student/mentor alliance to building a launch pad for a technology-based venture. Student teams will work with mentors and principal investigators from UM faculty in the Medical School, College of Engineering and other divisions to build a business and marketing plan for a new technology or invention. 

·     FIN 640: Financial Trading – The course is intended for MBA students that expect to take trading jobs, but it is also relevant for all students that expect to trade securities frequently. The course uses trading simulations/games conducted on the Ross trading floor to make students comfortable with ideas like order type, bid-ask spread, information, and dynamic hedging. The class will also take a field trip to Chicago to visit a number of relevant sites.  

·     FIN 725: Applied Financial Analysis and Portfolio Management – This course is conducted in the Tozzi Finance Center and requires students to manage a real investment fund. The emphasis is on combining the skills acquired in traditional courses with the latest financial technology to develop effective strategies for active portfolio management. 

·     FIN 743: Advanced Fundamental Equity Security Analysis – Provides hands-on exposure to fundamental equity analysis of both individual securities and business sectors. Teaches students to find and convert relevant data into quantitative model variables to create recommendations about the stocks to trade and to predict when certain industries tend to outperform or underperform the S&P 500.


New Elective

·   FIN 340: Financial Trading – This course is about how people trade in financial trading and how markets function. It uses both trading simulations and lectures to illustrate concepts such as order types, market clearing, information-based trading, liquidity and price manipulation. The course is designed for students that may take sales and trading jobs, but is relevant for all students that may trades securities in the future. 

·  FIN 380: Options and Futures in Financial Decision Making –This course addresses futures, options, and other financial derivatives. Students will develop a framework for analyzing and using these instruments in financial decision making. First, the characteristics of individual derivative securities and their markets will be examined. Second, students will study the fundamental economic principles for the pricing and hedging of these derivative securities. Finally, the applications of derivatives securities in different areas of finance will be discussed. These include hedging and risk management, portfolio insurance, index arbitrage, and corporate finance. The teaching will be done through lecture, case presentations, and discussions of major disasters in derivative applications and current market conditions in different derivative markets. 

·   FIN 450: Alternative Investments – This course is designed to provide basic understanding of the sources and uses of capital managed by hedge funds. The course will cover the steps to organize and create a hedge fund, various strategies employed by funds to generate returns, risk management theory and the performance measurement techniques used by funds. The course will also discuss current media reports and events related to the sector and attempt to analyze successes and failures. This course is designed for action-based learning. All instructions will be done in the Tozzi center. Students will be required to use Bloomberg, FactSet, and Barra to obtain data and test various hedge fund strategies. Student-groups will be responsible for coming up with a business plan of establishing a hedge fund. The plan should contain discussions of investment philosophy/strategy, operations, and marketing/client relationship issues. Each group will present their plan in front of potential investors at the end of class. 

·   FIN 743: Advanced Fundamental Equity Security Analysis – Provides hands-on exposure to fundamental equity analysis of both individual securities and business sectors. Teaches students to find and convert relevant data into quantitative model variables to create recommendations about the stocks to trade and to predict when certain industries tend to outperform or underperform the S&P 500.


Finance Student Clubs and Organizations
Finance faculty members are actively involved in advising several clubs, offering talks on relevant topics, and organizing outside speakers for club events.

·         Finance Club

·         Financial Derivatives & Risk Management Club

·         Real Estate Club