Curriculum

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Core Courses

Financial Statement Analysis for Accountants and Auditors

2 credits | BUAC707

Provides students with the tools to conduct a financial statement analysis, which is part of an overall business analysis. This involves understanding and using the information that financial statements are communicating to users.

Advanced Managerial Accounting and Control Systems

2 credits | BUAC710

Focuses on topics that emphasize the role of managerial accounting in a firm's overall management planning and control structure. A key concern is to show how effective organizations ensure that the parts of the organization work together to create the whole, and how the sum of the parts, through synergy, can indeed be greater than the whole.

Business Ethics for Accountants and Auditors

2 credits | BUAC706

Considers all facets of business ethics issues within an accounting and auditing context. Ethical theory, corporate social responsibility, and individual decision-making are considered. Some of the applied topics that may be covered in this course include, but are not limited to, intellectual property issues, corporate downsizing, outsourcing, global ethics, crises management, and employment ethics.

Data-Driven Decision Making

2 credits | BUAC740

Explore the basic analytical principles that can assist a manager to extract information from raw data and model complex decision problems with quantitative methods.

Forensic Accounting/ Auditing

2 credits | BUAC714

Provides a theoretical background and practical application of fraud examinations and corporate investigations. Fraud prevention, detection, investigation, and related matters such as courtroom procedures will be included. Also considered are topics such as FCPA and securities fraud. A wide variety of teaching tools are used.

Business Communications for Accountants and Auditors

2 credits | BUAC712

Focuses on the art of communication and its effects on people, organizations, and other stakeholders. The course will focus on two aspects of business communications: persuasion and effective presentations. The objective for the persuasion sessions is to have students improve upon their day-to-day oral business communications skills. This will be accomplished as participants learn to tailor each communication to the person or people with whom they are speaking.

Public Accounting Track

Intermediate Accounting II

2 credits | BUAC732

Continuing the study of accounting information covering accounting principles found in US GAAP and IFRS as they apply to cash and receivables, inventory valuation, acquisition and disposition of plant, property and equipment, depreciation, impairments and depletion, intangible assets, current liabilities and contingencies, long-term liabilities, and stockholders equity.

External Auditing

2 credits | BUAC735

The study of the independent accountants attest function, generally accepted auditing standards, compliance and substantive tests, and auditor reports and opinions. The course explores audit planning and the role of internal controls and their effect on the auditability of financial statements. The course includes the study of various audit concepts, including how auditors develop an audit strategy, determine materiality in various contexts, set the acceptable level of audit risk, assess control and inherent risk and set detection risk, develop audit objectives, accumulate audit evidence and prepare workpapers, and audit firm quality control.

Intermediate Accounting III

2 credits | BUAC758F

Advanced Accounting

2 credits | BUAC758U

Business Law for Managers

2 credits | BUAC721

Survey of United States legal institutions and processes as well as substantive areas of the law that affect business. Examination of tort and contract law, the legal forms of business organization and legal liability and major regulatory laws that affect business.

Forecasting Analytics and the Introduction to Taxation Principles (Tax I: Taxation of Individuals & Forecasting Analytics)

2 credits | BUAC762

Federal taxation of individuals focusing on income, exclusions, deductions, depreciation, credits and capital transactions including home ownership. Property coverage includes the tax consequences of sales and dispositions of personal use assets, investment and business assets. Both tax planning and compliance issues are also covered. In addition the course covers waged based and equity-based compensation, taxable and nontaxable benefits as well as deferred compensation and various retirement plans. In addition, students will learn how to utilize regression analysis and scenario analysis to provide additional insights about these tax topics and to forecast future effective tax rates.

Systems for Data Analysis

2 credits | BUAC785

Taxation Track

Tax II: Taxation of Corporations & Other Entities

2 credits | BUAC764

Students have the opportunity to gain an understanding of the basic tax competencies required for determining the appropriate tax structure for businesses; issue identification; active listening; solving tax problems.

Valuation for Accounting

2 credits | BUAC758B

This course has been designed to provide an introduction to valuation for financial reporting (“fair value”), fair value reporting, and auditing fair value measurements. The number and complexity of financial reporting standards that require or allow assets and liabilities to be reported at fair value has increased substantially in recent years. The technical accounting standards that include fair value are complex in and of themselves, and the valuation measurements add substantially to the complexity. The shift in capital markets from public to private equity combined with the trend in financial reporting from cost based to fair value based makes it imperative that accountants and auditors increase their fair value measurement and reporting skills and knowledge. The course will cover current trends in fair value, the fair value reporting process and technical accounting standards, business combinations, impairment testing, alternative investments, and auditing fair value measurements. This course is intended to provide the foundation for developing these skills, and provide students a competitive advantage in the marketplace.

Tax V: Visual Analytics and International Taxation

2 credits | BUAC770

An introduction to the theory and practice of international taxation. The objective of the course is to provide students with the basic tools to approach international tax topics from a US perspective. The course addresses the fundamentals of U.S. international taxation, but also offers insight into tax planning considerations. Both the U.S. activities of foreign taxpayers, as well as the foreign activities of U.S. taxpayers are explored.

Tax IV: Real Estate Tax and Enterprise Resource Planning (ERP)

2 credits | BUAC767

Provides an in-depth examination of the tax provisions and opportunities for planning transactions that involve real estate investments and transactions. The course covers the tax implications of purchasing, holding, and selling real property. These include the determination of tax basis and the treatment of mortgage interest, property taxes, like-kind exchanges, involuntary conversions, sales and dispositions, qualifying property, and capital gains and losses. The various forms used for property transactions will be reviewed in detail.

Data Security and Tax-Exempt Organizations

2 credits | BUAC766

An introduction to the theory and practice of taxation as applied in the nonprofit sector. The practice of taxation for nonprofits requires, inter alia, an understanding of the legal framework for these entities. Therefore, the course will devote significant time to understanding the legal environment and framework associated with nonprofits. The course goal is to enable students to become proficient in the major aspects of nonprofits that apply to the work of public accountants.

Accounting for Income Tax and Database Management

2 credits | BUAC758A

Database Management for State and Local Income Tax

2 credits | BUAC772

Covers the tax implications of doing business in the United States across state lines, resulting in multiple taxation under the Commerce Clause of the United States Constitution. The course focuses on nexus or jurisdictional due process (which gives states the right to tax business profits), allocation and apportionment formulas of multi state income, business versus non-business income, privilege tax and discrimination. Also explored are the current tax developments under the Import-Export clause of the United States Constitution, taxation based on class legislation and the Equal Protection Clause, the multistate tax compact, unitary concept, residence definitions, nonresident income sources, tax credits and short-period returns for individual income taxpayers, sales of tangible personal property, and retail and wholesale sales. The course examines valuation techniques for real and personal property. Students will learn the skills needed to understand and identify many aspects of the state income tax apportionment process. Focus will be placed on calculations and analyses required to present the state and local tax information in such a manner as to assist upper management in the business expansion decision-making process. The tax apportionment process requires a solid understanding of database management and we will utilize tools that are considered required knowledge in today's tax departments.

Analytics Track

Accounting Analytics

2 credits | BUAC758G

This course will discuss the application of data analytics techniques in accounting. Topics such as data cleaning and preparation, data visualization, audit data analytics and generating key performance indicators will be covered. Students will gain hands-on experience with the whole data analytics process. We will start from identifying questions that can be addressed with data, and then test the data, refine testing and finally, communicate those findings to stakeholders. By the end of this course, the students should have a basic understanding on how accounting analytics can help enhance the effectiveness of management control systems and improve the quality and relevance of financial reporting, as well as its implications in auditing and fraud detection.

Valuation for Accounting

2 credits | BUAC758B

This course has been designed to provide an introduction to valuation for financial reporting (“fair value”), fair value reporting, and auditing fair value measurements. The number and complexity of financial reporting standards that require or allow assets and liabilities to be reported at fair value has increased substantially in recent years. The technical accounting standards that include fair value are complex in and of themselves, and the valuation measurements add substantially to the complexity. The shift in capital markets from public to private equity combined with the trend in financial reporting from cost based to fair value based makes it imperative that accountants and auditors increase their fair value measurement and reporting skills and knowledge. The course will cover current trends in fair value, the fair value reporting process and technical accounting standards, business combinations, impairment testing, alternative investments, and auditing fair value measurements. This course is intended to provide the foundation for developing these skills, and provide students a competitive advantage in the marketplace.

Internal Auditing I: Assurance and Consulting Services

2 credits | BUAC752

Provides students with an overview and basic understanding of internal auditing. Internal audit's role in internal control, risk management, business processes and risks, and Sarbanes-Oxley, Section 404 compliance efforts compliance efforts are considered. Internal auditing is presented as an integral part of effective corporate governance. Examples of assurance and consulting activities undertaken by the internal audit function, as well as the sourcing strategy (i.e., full insourcing, co-sourcing or full outsourcing models) are discussed. Students are introduced to internal control theory, test design concepts and internal auditing best practices.

Applied Research for Accounting and Auditing

2 credits | BUAC758H

Provides students with an overview and basic understanding of internal auditing. Internal audit's role in internal control, risk management, business processes and risks, and Sarbanes-Oxley, Section 404 compliance efforts are considered. Internal auditing is presented as an integral part of effective corporate governance. Examples of assurance and consulting activities undertaken by the internal audit function, as well as the sourcing strategy (i.e., full insourcing, co-sourcing or full outsourcing models), are discussed. Students are introduced to internal control theory, test design concepts and internal auditing best practices.

Auditing Automation and Analytics

2 credits | BUAC 716

Auditing theory and the functions of the independent auditor in the financial market. As part of the class, the students will cover issues related to auditing large databases and audit analytics of large databases. Moreover, the students will study audit automation and the use of artificial intelligence (AI) and Robotic process in the auditing market.

Information Security, Audit and Control

2 credits | BUAC756

Builds on basic information technology (IT) courses, focusing on key issues including IT security, IT controls, and IT auditing. Addressing issues such as auditing a computer information system; assessing risks; identifying control objectives; identifying appropriate audit procedures; learning the concepts and basic features or audit software thereby providing the tools for choosing audit software; conducting an operational audit basic controls over computer information systems; and developing world-class IT control frameworks.

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Core Courses

Data, Models and Decisions

3 credits | BUDT730

Analytical modeling of business decisions; uncertainty, risk and expected utility; regression modeling to infer relationships among variables.

Database Management Systems

3 credits | BUDT703

Introduction to the conceptual, logical and physical design of relational database systems and their use in business environments. Topics include information modeling and optimization via normalization; Structured Query Language (SQL); Data Warehousing.

Data Processing and Analytics in Python

3 credits | BUDT704

An introduction to the Python programming language for the purpose of processing, analyzing, and visualizing data. In addition, students will be introduced to developing basic regression, optimization, and simulation models in Python, using highly popular packages. Course emphasis is on mastering basic Python functionality and developing intermediate to advanced skills in working with data, through instruction and active learning.

Big Data and Artificial Intelligence for Business

3 credits | BUDT737

This course uses a learning-by-doing approach to understand key concepts behind Big Data and AI, the strategic drivers of these technologies and the value propositions that they provide to industry. The course cover technologies within this ecosystem including Hadoop, AWS, Pig, Hive, Amazon Web Services and Spark. Examples of AI using Deep Learning will be presented. The focus is on creating awareness of the technologies, providing some level of familiarity with them through hands-on exercises and projects, and enabling strategic thinking around the use of these technologies in business.

Data Mining and Predictive Analytics

3 credits | BUDT758T

In business magazines, on TV, and in board rooms, “big data” and “data analytics” are now hot topics. Vast quantities of data are being generated these days, including new types of data such as web traffic, social network data, and reviews and comments on websites. This data is a valuable resource that, when used correctly, can create a competitive edge for companies by improving the quality of decision making. Recent advances in computing hardware and software have made the application of advanced analytical methods much easier. This course takes advantage of these developments to introduce data analytics to those interested in developing expertise in data driven decision making.

The course is intended to provide an introduction to the tools and techniques of data mining & machine learning that are central to business analytics, with particular emphasis on classification and prediction. The focus will be on business applications and examples from Marketing, Finance, Healthcare, and Operations will be used to illustrate the breadth of applications.

Data Visualization and Web Analytics

3 credits | BUDT785D

Electives

Operations Analytics

2 credits | BUDT758V

Computer Simulation for Business Applications

2 credits | BUDT758Z

Price Optimization and Revenue Management

3 credits | BUDT758L

Decision Analytics

2 credits | BUSI751

Analytical modeling for managerial decisions using a spreadsheet environment. Includes linear and nonlinear optimization models, decision making under uncertainty and simulation models.

Capstone Project in Business Analytics

3 credits| BUDT758W

Business Communication

1 credit | BUDT758A

Consists of written and oral base-line assessments. Students will meet with Program administrators to receive feedback on these assessments and create an individualized development plan. Workshops and core course assignments, Smith-related activities and CMP assignments.

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Core Courses

Leadership and Teamwork

2 credits | BUSM600

Course examines concepts of team-building and leadership which are critical to managerial success. Topics include leadership, decision making, communication and conflict, work motivation, building effective teams, and organizational change and culture.

Introduction to Financial Accounting

2 credit | BUSM602

Overview of financial accounting, periodic financial statements and the financial reporting process. Importance of financial statements as information source for creditors and investors and as a means by which managers can communicate information about their firms.

Data Driven Decision Making

3 credits | BUSM606

Analytical modeling of business decisions; uncertainty, risk and expected utility; regression modeling to infer relationships among variables.

Financial Management

3 credits | BUFN610

Focuses on the valuation of the real assets of firms as well as the valuation of stocks and bonds, the primary financial assets in an economy. While details vary, the conceptual foundations of valuation boil down to three themes: time value of money, no-arbitrage, and systematic risk.

Managerial Economics and Public Policy

2 credits | BUSM604

Basic microeconomic principles used by firms, including supply and demand, elasticities, costs, productivity, pricing, market structure and competitive implications of alternative market structures. Market failures and government intervention. Public policy processes affecting business operations.

Marketing Management

2 credits | BUSM612

Analysis of marketing problems and evaluation of specific marketing efforts regarding the organization's products and services, pricing activities, channel selection, and promotion strategies in both domestic and international markets.

Strategic Management

2 credits | BUSM614

Analyze and identify profit opportunities and threats in different industry and competitive environments; Analyze and identify a firm's valuable assets, resources and capabilities and how they might be protected, leveraged, and extended in the market; Learn how to organize your company to be the best prepared to adapt its strategy over time as the market environment changes; and how to use organic growth as well as mergers, acquisitions, joint ventures, alliances, and divestitures to ensure that the firm maintians the proper scale and scope to compete effectively over time.

Elective Courses

Negotiations

2 credits | BULM734

This high experiential course will improve students' negotiation skills and capacity to acquire and effectively use power. By using a variety of assessment tools, feedback sources, skill-building exercises, and exercise debriefings, the class will increase students' negotiating self-confidence and improve their capacity to achieve win-win solutions to individual, team, and organizational problems. The course is designed to enhance students' negotiating self-confidence and improve students analytical skills, interpersonal skills, creativity (e.g., identifying creative solutions to conflict), and persuasive abilities.

Project Management in Dynamic Environments

2 credits | BULM735

Addresses project management skills that are required by successful managers in increasingly competitive and faster-moving environments. Examines fundamental concepts of successful project management, and the technical and managerial issues, methods, and techniques.

Special Topics in Business; Integrated Brand Management

2 credits | BUSM758M

Brand names are valuable assets for firms. Effective brand management is critical to maintaining the long-term profitability of products and services. Topics include understanding brands from the customer's perspective, building brand equity, measuring brand equity, leveraging brand equity, managing brand portfolios and managing brands over time.

Decision Analytics

2 credits | BUSI751

Analytical modeling for managerial decisions using a spreadsheet environment. Includes linear and nonlinear optimization models, decision making under uncertainty and simulation models.

Special Topics in Business; Business Consulting

4 credits | BUSI768Q

Download the curriculum map

Core Courses

Financial Management
2 credits | BUFN610

Focuses on the valuation of the real assets of firms as well as the valuation of stocks and bonds, the primary financial assets in an economy. While details vary, the conceptual foundations of valuation boil down to three themes: time value of money, no-arbitrage, and systematic risk.

Financial Data Analytics
2 credits | BUFN640

The course adopts a machine learning mindset to study standard techniques of econometric analysis of financial data. The focus is on understanding, interpretation, and practical applications in Python and Google Colab.

Capital Markets
2 credits | BUFN620

Designed to deepen the foundations necessary for finance-focused students, especially those intending to specialize in the quantitative areas of finance including investments, fixed income, and financial engineering.

Machine Learning in Finance
2 credits | BUFN650

A hands-on course on applications of cutting-edge machine learning methods to financial modeling. It introduces students to a wide variety of machine learning techniques ranging from lasso regression to deep learning and TensorFlow.

Valuation in Corporate Finance
2 credits | BUFN630

An advanced topics course in Corporate Finance dealing with valuation. Main topics will be, building pro forma statements, cost of capital, using ratios and comparables to value projects and firms, discounted cash flow valuations, WACC and APV methods of valuation and Real Option Valuations.

Fixed Income Analysis
2 credits | BUFN732

Describes important financial instruments which have market values that are sensitive to interest rate movements. Develops tools to analyze interest rate sensitivity and value fixed income securities. Defines and explains the vocabulary of the bond management business.

Derivative Securities
2 credits | BUFN660

Standard types of derivatives contracts are presented and illustrated as to how they are used in practice. The theory of pricing these contracts is then presented in detail. The use of static and dynamic replication strategies, and the concept of no-arbitrage strategies is illustrated in numerous ways. Standard valuation techniques are covered, and standard formulas are presented. The theory is then applied to develop specific pricing and hedging strategies for various types of derivatives on different underlying assets. The management of the exposure of various risks is covered in detail as well.

Asset Management Track

Institutional Asset Management
2 credits | BUFN726

Examines how money is managed by organizations such as university endowments, pension funds, mutual funds, hedge funds, and private equity funds. Involves a mixture of finance and economics and emphasizes the incentives professional money managers face within the context of the organizational structure in which they operate. Particular attention is paid to compensation structures and monitoring mechanisms.

Portfolio Management
2 credits | BUFN734

Provides training that is important in understanding the investment process - the buy side of the financial world. Specifically, the objective is to provide graduate-level instruction in the following topics, both in theory and in using financial markets data to test the basic theory and practice of portfolio choice and equilibrium pricing models and their implications for efficient portfolios.

Quantitative Investment Strategies
2 credits | BUFN736

Provides an introduction to quantitative techniques of selecting equities, as used commonly among long-short equity hedge funds and other quantitative equity asset management companies. Statistical factor models are developed to locate stocks with higher expected returns, based on the observable characteristics of the stocks. Implementation issues, including statistical estimation, backtesting and portfolio construction, are covered, as is performance evaluation.

Fixed Income Derivatives
2 credits | BUFN744

Surveys fixed income assets and related securities such as Exchange-traded bond options; bonds with embedded options; floating rate notes; caps, collars, and floors; floating rate notes with embedded options. Also, surveys advanced tools for interest-rate and fixed-income portfolio management, including the use of derivative securities, and the application of binomial trees for analysis of options, and a sound understanding of stochastic yield curves.

Financial Engineering
2 credits | BUFN742

Introduces and applies various computational techniques useful in the management of equity and fixed-income portfolios and the valuation of financial derivatives and fixed-income securities. Techniques include Monte Carlo Simulation and binomial/lattice pricing models. Emphasis is on bridging theory with the design of algorithms and models that can be directly applied in practice.

Entrepreneurial Finance and Private Equity
2 credits | BUFN717

An advanced topics course in Corporate Finance. The major emphasis is how financiers help growing firms - and in particular young start-ups - using different types of securities at different points in the industry's and firm's life. Financing arrangements and securities studied will include private equity funds and private financings placements, Venture Capital (VC) and preferred equity, Investment Banks through Initial Public Offerings (IPOs), Private equity finds, debt and leveraged buyouts. Students will learn additional techniques that will help them understand how financiers value firms and how to understand, plan and value different financing strategies.

Big Data in Finance
2 credits | BUFN758D

Hedge Fund Management
2 credits | BUFN758M

Market Microstructure
2 credits | BUFN758X

The course examines--from theoretical, institutional, and empirical perspectives--how prices in speculative markets are determined by the interaction of traders. Topics covered include market making, informed trading strategies, liquidity, bid-ask spreads, transaction costs, market impact, price manipulation, and high-frequency trading. The course examines markets for equities, bonds, commodities, and foreign exchange. There are several empirical exercises using transaction data.

Financial Analysis and Risk Management Track

Financial Strategy For Corporations
2 credits | BUFN710

An advanced course in corporate finance, focusing on the issues that firms face when they plan to raise external capital from financial markets. The focus is on the financing problems faced by mid-market to large firms and on capital raised from public markets. The forms of external finance vary from simple debt or equity to more complex securities that bundle with an element of risk management.

Financial Restructuring
2 credits | BUFN712

Focuses on identifying ways to increase firm value through corporate restructuring. Specific topics include: mergers and tender offers, spin-offs, carve-outs, divestitures, takeover defense strategies, leveraged buy-outs, and international acquisitions. Additionally, the theory, practice and empirical evidence related to each of these topics will be covered. Emphasis will be placed on valuation analysis and strategic considerations.

Institutional Asset Management
2 credits | BUFN726

Examines how money is managed by organizations such as university endowments, pension funds, mutual funds, hedge funds, and private equity funds. Involves a mixture of finance and economics and emphasizes the incentives professional money managers face within the context of the organizational structure in which they operate. Particular attention is paid to compensation structures and monitoring mechanisms.

International Investment
2 credits | BUFN721

Addresses international stock markets, portfolio theory, international interest rates, exchange rates and exchange rate derivatives (options, forwards, and futures), exchange rate swaps and exchange rate exposure (operating, translation, and transaction), foreign investment strategy.

Applied Equity Analysis (Advanced Financial Modeling and Equity Analysis)
2 credits | BUFN730

Provides in-depth analysis of public equities, with a focus on financial statement analysis, financial forecasting and ultimately valuation. Students will apply the primary valuation techniques used in industry to estimate market values for equities. Additionally, students learn how to stress test their financial models and interpret outcomes.

Entrepreneurial Finance and Private Equity
2 credits | BUFN717

An advanced topics course in Corporate Finance. The major emphasis is how financiers help growing firms - and in particular young start-ups - using different types of securities at different points in the industry's and firm's life. Financing arrangements and securities studied will include private equity funds and private financings placements, Venture Capital (VC) and preferred equity, Investment Banks through Initial Public Offerings (IPOs), Private equity finds, debt and leveraged buyouts. Students will learn additional techniques that will help them understand how financiers value firms and how to understand, plan and value different financing strategies.

Enterprise and Credit Risk Management
2 credits | BUFN746

Surveys the theory and practice of credit risk identification, measurement and mitigation along with understanding the principles of enterprise risk governance and risk-adjusted returns. The course examines how to develop credit loss distributions via Monte Carlo simulation or copula methodologies for consumer assets such as mortgages, credit cards and auto loans, developing commercial loan scorecards for rating credit risk. Pricing and use of various credit structures such as credit default swaps, collateralized debt obligations and credit-linked notes are examined.

Climate Finance Track

Climate Modeling and Analytic Tools
2 credits | Term C

An overview of the methodologies, assumptions and data used to develop climate models used for scenario and stress test analysis by financial services companies and other institutions. In addition to learning about the mechanics of climate models, their strengths and limitations, students will learn to how to use tools for conducting geospatial climate analytics. Financial and risk management modeling techniques including machine learning, statistical and simulation-based models for assessing climate change financial impacts will be examined in this course.

Carbon Accounting and Financial Disclosures
2 credits | Term C

A course surveying the accounting principles associated with climate and carbon disclosures. The course will explore the latest guidance from SEC and other regulatory organizations on financial disclosures including The Task Force on Climate-Related Financial Disclosures (TCFD).

Experiential Learning Project
2 credits | Term D

A course where small student teams led by a faculty advisor work with a corporate or governmental sponsor on an applied problem of interest relating to climate finance and risk management. Students would learn how to work in an interdisciplinary team to conduct analysis on some applied climate finance or risk business problem leveraging concepts and tools from the other courses in the climate finance track.

Portfolio Analysis, Investment Strategies and Climate
2 credits | Term D

In this course, students will learn important techniques used by asset managers, hedge funds and private equity for valuing various types of assets and companies based on their exposure to climate-related risks. Other financial tools such as green bonds and associated financing vehicles will also be presented for evaluation.

Electives

International Corporate and Project Finance
2 credits | BUFN723

Issues addressed will include capital budgeting, project financing, exchange rate exposure (operating, translation, and transaction), foreign investment strategy, and risk management.

Bank Management
2 credits | BUFN724

Analyze and discuss readings in bank management, with a primary focus on the measurement and management of risk, including credit, market, and interest rate risk. Look at the management of liquid reserves. Examine the special nature of financial institutions, incorporating their functions, policies, services, and regulation. Study the evolving nature of the financial services industry, by reading the financial press and by having outside practitioner speakers. Focus is on U.S. banks.

Special Topics in Finance
2 credits | BUFN758

Core Courses

First Semester

Database Management
2 credits | BUDT703

Data, Models, and Decisions using R
2 credits

Data Processing and Analysis in Python
3 credits

Technology and Strategy
2 credits

Technology Project Management
2 credits

Industry Seminar
Required for industry practicum

Second Semester

Business Process Analysis
2 credits

Data Science and Predictive Analytics
2 credits

Harnessing AI for Business
2 credits

Industry Seminar
Required for industry practicum
The Industry Seminar is designed to cultivate relationships between students and business-technology industry executives. During the semester, Industry leaders will present to students industry trends, opportunities and challenges. Students will be required to attend these presentations and will have an opportunity to connect and mingle with industry leaders. This should enable students to obtain summer internships and long term career opportunities.

Third Semester

Industry Practicum
2 credits
This Industry Practicum is a capstone course where students will apply their integrated business-technology learning across the entire MSIS program to solve real-world problems through sponsored projects. The Industry Practicum ensure that students (1) have the capacity to integrate, apply, and implement business-technology strategies, frameworks and methods learned in the program to solve business problems, (2) develop the critical-thinking and reflection capacity needed to successfully operationalize business-technology solution and harvest business benefits, and (3) understand the complete range of holistic tasks associated with a successful business-technology project.

Elective Courses by Focus Area

Emerging Technologies

Only offered during the Spring semester

Blockchain and Smart Contracts
2 credits

IoT Applications for Business
2 credits

Data Science

Only offered during the second Fall semester

Advanced Topics in Data Science: Causal Inference and A/B Testing
2 credits | BUDT756

Social Media & Unstructured Data Analytics
2 credits

Data Visualization for Business
2 credits | BUDT705

Cloud Computing

Digital Platforms and Ecosystems
2 credits | BUDT722

Big Data and Cloud Computing
2 credits | BUDT737

Digital Health
2 credits | BUDT741

Cybersecurity
2 credits | BUT757

Technology Management

Cybersecurity
2 credits | BUT757

Digital Health
2 credits | BUDT741

Machine Learning & Blockchain for FinTech
2 credits | BUDT742

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Core Courses

Marketing Strategy (Market-Based Management)

3 credits | BUMK720

Introduces students to the fundamentals of marketing. This course combines lectures, readings, case analyses and a competitive simulation. A significant part of the course involves a competitive computer-based simulation in which student teams leverage marketing data and metrics to make marketing decisions for an organization that is competing in a market against other student teams in the class.

Customer Analytics

3 credits | BUMK724

Focuses on the analysis of customer decision-making and how marketing strategy can be used to influence those decisions. The framework used is the buyer behavior model, in which concepts from psychology, sociology, and economics are applied to individual and organizational purchase decisions. Marketing strategies of leading firms in consumer products, technology, and services (including internet services) are analyzed using a variety of case study formats.

Advanced Marketing Analytics

3 credits | BUMK742

The analysis of marketing data needed for profitable marketing decisions. Advanced methods of marketing analysis for marketing decisions, including choice and count data models, joint analysis of consumers choice, quantity and timing decisions, mixture and mixture regression models, and conjoint analysis, all using data-based cases and SAS software. Applications are in the areas of strategic marketing, marketing segmentation, eye tracking for advertising effectiveness, new product development, sales promotion analysis, pricing, design of marketing mix, and direct marketing.

Statistical Programming

3 credits | BUMK726

Provides students with a foundation in probability and statistics with a focus on business applications. It also gives students a foundation for thinking in both likelihood and Bayesian frameworks. The course teaches students the basics of SAS, as well as its use in statistical analysis and statistical programming. Also addressed are basic SAS language structure, data management, OLAP, enterprise miner, statistical analysis, writing procedures.

Business Policies and Ethics

2 credits | BUMK760

The standards of business conduct, morals and values as well as the role of business in society. Students will consider the sometimes conflicting interests of and claims on the firm and its objectives.

Business Communications I

1 credit | BUMK762

A study of the standards of business conduct, morals and values as well as the role of business in society. Students will consider the sometimes conflicting interests of and claims on the firm and its objectives.

Business Communications II

1 credit | BUMK764

Teaches students how to communicate quantitative information effectively. Focuses on developing written, spoken and presentation skills.

Marketing Research and Analytics

3 credits | BUMK744

Provides a review of primary data collection methods for marketing data. Students will learn how to design and implement effective confirmatory research. Both direct methods such as surveys and indirect methods such as experiments will be covered. In this hands-on course, students will design and conduct research with target customers, analyze the data, and then present their results to decision makers.

Data Science for Customer Analytics

3 credits | BUMK746

An introduction to data science and thebasic concepts of database management. The course also provides an overview of the various sources of in house data that are available to many organizations. Students will learn how to work with click stream, scanner panel and social media data. Geo-demographic datasets will be discussed and explored, and techniques for data-fusion will receive ample attention.

Electives

CRM Analytics

2 credits | BUMK758R

Digital Analytics

2 credits | BUMK766

Examines the process of developing, implementing and analyzing strategies for successfully marketing a variety of existing and potential products and services on the Internet. Special attention is devoted to the tools and techniques unique to the electronic media.

Pricing Analytics

2 credits | BUMK773

The economic and behavioral aspects of pricing and the evaluation of innovative pricing practices such as price matching, customized pricing, bundle pricing and product line pricing. The course will cover both B2B, B2C, online and offline markets. Instruction will be through a mix of case studies, pricing simulation games, hands-on exercises, practitioner guest lectures and discussions.

Action Learning Project

2 credits| BUMK776

Students analyze marketing data, report their findings and provide appropriate recommendations.

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Core Courses

Financial Management

2 credits | BUFN610

Focuses on the valuation of the real assets of firms as well as the valuation of stocks and bonds, the primary financial assets in an economy. While details vary, the conceptual foundations of valuation boil down to three themes: time value of money, no-arbitrage, and systematic risk.

Financial Data Analytics

2 credits | BUFN640

The course adopts a machine learning mindset to study standard techniques of econometric analysis of financial data. The focus is on understanding, interpretation, and practical applications in Python and Google Colab.

Machine Learning in Finance

2 credits | BUFN650

A hands-on course on applications of cutting-edge machine learning methods to financial modeling. It introduces students to a wide variety of machine learning techniques ranging from lasso regression to deep learning and TensorFlow.

Financial Mathematics

2 credits | BUFN670

Introduction to the mathematical models used in finance and economics with emphasis on pricing derivative instruments. Topics include elements from basic probability theory, distributions of stock returns, elementary stochastic calculus, Ito's Lemma, arbitrage pricing theory, and continuous time portfolio theory. Particular focus is on the financial applications of these mathematical concepts.

Advanced Capital Markets

2 credits | BUFN741

This course covers modern theories and techniques for investments and asset pricing. The main topics covered are: portfolio theory, pricing models, market efficiency, fixed income investment, forwards and futures, and options.

Financial Programming

2 credits | BUFN745

This course introduces basic and innovative statistical modelling methods for financial markets, and equips students with analytical and programming tools for modelling and analyzing financial data. Examples of applications include portfolio management and risk management.

Valuation in Corporate Finance

2 credits | BUFN630

An advanced topics course in Corporate Finance dealing with valuation. Main topics will be, building pro forma statements, cost of capital, using ratios and comparables to value projects and firms, dicounted cash flow valuations, WACC and APV methods of valuation and Real Option Valuations.

Derivative Securities

2 credits | BUFN660

Standard types of derivatives contracts are presented, and illustrated as to how they are used in practice. The theory of pricing these contracts is then presented in detail. The use of static and dynamic replication strategies, and the concept of no-arbitrage strategies is illustrated in numerous ways. Standard valuation techniques are covered, and standard formulas are presented. The theory is then applied to develop specific pricing and hedging strategies for various types of derivatives on different underlying assets. The management of the exposure of various risks is covered in detail as well.

Climate Finance Track

Climate Modeling and Analytic Tools
2 credits | Term C

An overview of the methodologies, assumptions and data used to develop climate models used for scenario and stress test analysis by financial services companies and other institutions. In addition to learning about the mechanics of climate models, their strengths and limitations, students will learn to how to use tools for conducting geospatial climate analytics. Financial and risk management modeling techniques including machine learning, statistical and simulation-based models for assessing climate change financial impacts will be examined in this course.

Carbon Accounting and Financial Disclosures
2 credits | Term C

A course surveying the accounting principles associated with climate and carbon disclosures. The course will explore the latest guidance from SEC and other regulatory organizations on financial disclosures including The Task Force on Climate-Related Financial Disclosures (TCFD).

Experiential Learning Project
2 credits | Term D

A course where small student teams led by a faculty advisor work with a corporate or governmental sponsor on an applied problem of interest relating to climate finance and risk management. Students would learn how to work in an interdisciplinary team to conduct analysis on some applied climate finance or risk business problem leveraging concepts and tools from the other courses in the climate finance track.

Portfolio Analysis, Investment Strategies and Climate
2 credits | Term D

In this course, students will learn important techniques used by asset managers, hedge funds and private equity for valuing various types of assets and companies based on their exposure to climate-related risks. Other financial tools such as green bonds and associated financing vehicles will also be presented for evaluation.

General Elective Courses

Entrepreneurial Finance and Private Equity

2 credits | BUFN717

Prerequisite: Corporate Finance

An advanced topics course in Corporate Finance. The major emphasis is how financiers help growing firms - and in particular young start-ups - using different types of securities at different points in the industry's and firm's life. Financing arrangements and securities studied will include private equity funds and private financings placements, Venture Capital (VC) and preferred equity, Investment Banks through Initial Public Offerings (IPOs), Private equity finds, debt and leveraged buyouts. Students will learn additional techniques that will help them understand how financiers value firms and how to understand, plan and value different financing strategies.

International Investment

2 credits | BUFN721

Addresses international stock markets, portfolio theory, international interest rates, exchange rates and exchange rate derivatives (options, forwards, and futures), exchange rate swaps and exchange rate exposure (operating, translation, and transaction), foreign investment strategy.

Bank Management

2 credits | BUFN724

Fixed Income Analysis

2 credits | BUFN732

Describes important financial instruments which have market values that are sensitive to interest rate movements. Develops tools to analyze interest rate sensitivity and value fixed income securities. Defines and explains the vocabulary of the bond management business.

Portfolio Management

2 credits | BUFN734

Provides training that is important in understanding the investment process - the buy side of the financial world. Specifically, the objective is to provide graduate-level instruction in the following topics, both in theory and in using financial markets data to test the basic theory and practice of portfolio choice and equilibrium pricing models and their implications for efficient portfolios.

Fixed Income Derivatives

2 credits | BUFN744

Surveys fixed income assets and related securities such as Exchange-traded bond options; bonds with embedded options; floating rate notes; caps, collars, and floors; floating rate notes with embedded options. Also surveys advanced tools for interest-rate and fixed-income portfolio management, including the use of derivative securities, and the application of binomial trees for analysis of options, and a sound understanding of stochastic yield curves.

Financial Engineering

2 credits | BUFN742

Introduces and applies various computational techniques useful in the management of equity and fixed income portfolios and the valuation of financial derivatives and fixed income securities. Techniques include Monte Carlo Simulation and binomial/lattice pricing models. Emphasis is on bridging theory with the design of algorithms and models that can be directly applied in practice.

Financial Risk Management

2 credits | BUFN747

This course surveys risks and techniques associated with asset-liability and nonfinancial risks including market and interest rate risk, liquidity risk, operational risk and model risk, among others. Techniques such as portfolio value-at-risk (VaR) are used in realistic empirical examples to illustrate the methods. Key rate duration, principal components analysis and analytical and simulation-based VaR techniques are used to estimate interest rate risk exposure for financial firms. Hedging these risks using various financial derivative products such as options, swaps and futures contracts is explored. Operational risk is estimated leveraging Poisson loss distributions and model risk and validation techniques are reviewed.

Institutional Asset Management

2 credits | BUFN726

Examines how money is managed by organizations such as university endowments, pension funds, mutual funds, hedge funds, and private equity funds. Involves a mixture of finance and economics and emphasizes the incentives professional money managers face within the context of the organizational structure in which they operate. Particular attention is paid to compensation structures and monitoring mechanisms.

Asset-Liability and Non Financial Risk Management

2 credits | BUFN747

This course surveys risks and techniques associated with asset-liability and nonfinancial risks including market and interest rate risk, liquidity risk, operational risk and model risk, among others. Techniques such as portfolio value-at-risk (VaR) are used in realistic empirical examples to illustrate the methods. Key rate duration, principal components analysis and analytical and simulation-based VaR techniques are used to estimate interest rate risk exposure for financial firms. Hedging these risks using various financial derivative products such as options, swaps and futures contracts is explored. Operational risk is estimated leveraging Poisson loss distributions and model risk and validation techniques are reviewed.

Market Microstructure

2 credits | BUFN758X

The course examines--from theoretical, institutional, and empirical perspectives--how prices in speculative markets are determined by the interaction of traders. Topics covered include market making, informed trading strategies, liquidity, bid-ask spreads, transaction costs, market impact, price manipulation, and high-frequency trading. The course examines markets for equities, bonds, commodities, and foreign exchange. There are several empirical exercises using transaction data.

Download the curriculum map

Business Fundamentals for Supply Chain Managers I

2 credits | BULM700

This course is part of a series of two courses Business Fundamentals for SCM part I and part II. The series is intended to provide you with the knowledge and skills necessary to quantify the impact of supply chain management decisions on the bottom line. Students will gain a solid understanding of accounting, finance and the link between supply chain and overall financial performance. Students will analyze financial statements and explain the implications of supply chain management decisions on standard financial ratios and all components of the balance sheet and income statement. Through interactive supply chain finance models, students will demonstrate the sensitivity of outcome to multiple independent variables. Last but not least, students will also learn how to apply the net present value technique to evaluate the feasibility of investment projects in the supply chain.

Data Driven Decision Making I

2 credits | BULM710

Analytical modeling of business decisions; uncertainty, risk and expected utility; regression modeling to infer relationships among variables.

Global Supply Chain Management

2 credits | BULM721

Offers a practical blueprint for understanding, building, implementing, and sustaining supply chains in today's rapidly changing global supply chain environment. It will provide the student with a survey of the fast-moving Supply Chain Management discipline and practice, including the evolution of supply chain strategies, business models and technologies; current best practices in demand and supply management; and methodologies for conducting supply chain-wide diagnostic assessments and formulating process improvement plans.

Project Management in Dynamic Environments

2 credits | BULM735

Addresses project management skills that are required by successful managers in increasingly competitive and faster-moving environments. Examines fundamental concepts of successful project management, and the technical and managerial issues, methods, and techniques.

Supply Chain Risk Management (Assessing and Managing Supply Chain Risks)

2 credits | BULM734

Supply chain managers are facing an increasingly volatile operating environment, with constant danger of trading community disruption from business, social and environmental risks. Students are provided with a working knowledge of both the core techniques of supply chain risk assessment and mitigation; as well as best practices in establishing formal corporate supply chain risk management programs. A semester-long X-Treme Supply Chain Simulation will enable students to gain hands-on experience in navigating a computer company through a complex and risky four quarters of global business operations.

Lean Six Sigma for the Supply Chain Managers I

2 credits | BULM750

This course is part of a series of courses. This the second part of the Lean Six Sigma for SC Managers course series. We will be focusing on the Analyze, Improve and Control phases of the Lean Six Sigma methodology. Lean Six Sigma is a robust methodology for problem-solving aiming to improve quality and reduce speed within a process. This course covers up to the Lean and Six Sigma Green Belt level body of knowledge. You will be expected to conduct a project on a case study of a business looking to improve their processes to meet customer requirements.

Data Driven Decision Making II

2 credits | BULM711

Analytical modeling of business decisions; uncertainty, risk and expected utility; regression modeling to infer relationships among variables.

Global Supply Chain Resources Planning

2 credits | BULM742

Provides students with an overall understanding of how firms use an advanced supply chain planning (ASCP) application as an integral part of their materials management process which includes such activities as production planning, materials requirements planning, and distribution requirements planning.

Lean Six Sigma for the Supply Chain II

2 credits | BULM751

This course is part of a series of courses. The first part will cover the Introduction, Define and Measure Phases of the Lean Six Sigma Methodology. Lean Six Sigma is a robust methodology for problem solving aiming to improve quality and reduce speed within a process. This course covers up to the Lean and Six Sigma Green Belt level body of knowledge. You will be expected to conduct a project on a case study of a business looking to improve their processes to meet customer requirements.

Supply Chain Strategy

2 credits | BULM756

Examines supply chain management at the strategic level. Through class lectures, case discussions, and assignments, students first learn about the determinants of corporate strategy. Supply chain strategies are then discussed, along with the need to properly align supply chain strategy with corporate strategy. Finally, there is a discussion of how to implement supply chain strategy, given various environmental and market considerations.

Business Fundamentals for Supply Chain Managers II

2 credits | BULM701

This is the second course of the series Business fundamentals for Supply Chain Managers. This course is intended to provide you with the knowledge and skills necessary to quantify the impact of supply chain management decisions on the bottom line. Students will gain a solid understanding of accounting, finance and the link between supply chain and overall financial performance. Students will analyze financial statements and explain the implications of supply chain management decisions on standard financial ratios and all components of the balance sheet and income statement. Through interactive supply chain finance models, students will demonstrate the sensitivity of outcome to multiple independent variables. Last but not least, students will also learn how to apply the net present value technique to evaluate the feasibility of investment projects in the supply chain.

Global Transportation Management

2 credits | BULM754

Introduces transportation as a field of managerial and governmental responsibility and presents the features that make the transportation arena unique and, thus,worthy of advanced study. Each of the five modes of transportation, along with other forms of carriage, will be considered. In addition, the importance of freight transportation within supply chain management will be examined. Issues related to passenger transportation will also be addressed. Throughout the course, particular attention will be paid to the significant impact that transportation has on economic development and growth.

Technology Applications in Supply Chain Management

2 credits | BULM731

In this course, we introduce the knowledge and skills necessary to quantify the impact of supply chain management decisions on the bottom line. Students will gain an understanding of accounting, finance, production cost, scheduling, and the link between supply chain and overall financial performance.

Negotiations in Supply Chain Management

2 credits | BULM724

This high experiential course will improve students' negotiation skills and capacity to acquire and effectively use power. By using a variety of assessment tools, feedback sources, skill-building exercises, and exercise debriefings, the class will increase students' negotiating self-confidence and improve their capacity to achieve win-win solutions to individual, team, and organizational problems. The course is designed to enhance students' negotiating self-confidence and improve students analytical skills, interpersonal skills, creativity (e.g., identifying creative solutions to conflict), and persuasive abilities.

0 Credits | BMGT099 | Download Sample Syllabus

This online course allows you to gain academic recognition for completing an internship in your area of study. This course is offered through Maryland Smith’s Office of Career Services (OCS).

• The course is offered in fall, winter, spring and summer semesters.
• You’ll apply the business concepts you learn in class to the real world. Gain more industry insight, clarify your career goals, and develop your professional and technical skills.
• Assignments include completing a work log, reflection activity, LinkedIn post and employer survey. All are completed virtually using Canvas.

Prerequisites and Guidelines

Prior approval from OCS is required to register for the course. More information on this process can be found in the Registration Process, Process Map and Registration Approval Checklist documents. To be approved, you must:

• Be in good academic standing. 
  You must be a current student enrolled in a specialty master’s program for at least two consecutive semesters. You must also have a GPA of 3.0 or higher.
• Meet the working hours requirement and location guidelines. 
  You must work at least 75 hours at your internship during that semester. Depending on which semester you enroll, workplace location guidelines may also apply.
• Update your Internship putcome and complete an Experiential Learning profile.
  Submit your information on HireSmith and upload the following forms to your Experiential Learning profile:
  • Curricular Practical Verification Form
  • Offer letter
  • Job description (if necessary)

Special Guidelines for International Students

Registration in this course does not guarantee Curricular Practical Training (CPT). However, this course does fulfill the academic requirement for CPT. Authorization is granted by the Office of International Student and Scholars and Services (ISSS). Once you are enrolled in this course, see ISSS for more details on CPT authorization.

For questions about the course and receiving internship credit, email Neta Moye, assistant dean and executive director of the Office of Career Services, at SmithBMGT099@umd.edu.