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Program Requirements
Mentors: Professors P. Christoffersen and K. Lester
The B.Com. Honours Investment Management prepares students for a career in financial asset management, either on the buy-side working with active portfolio allocation or on the sell-side, working for brokerage firms. The program gives students a rigorous training in accounting, statistics and finance. The program enables students to analyze financial statements, perform company valuations, construct efficient portfolios with appropriate risk profiles, and manage risk using dynamic trading strategies and derivative instruments.
Students must maintain a minimum CGPA of 3.00 and maintain a minimum program GPA of 3.0. A grade of B- or better must be achieved in all courses counted towards this program. Students who do not satisfy all the requirements of the Honours program may still receive a Major in Finance.
The B.Com. Honours Investment Management is a limited enrolment program and is by application only for students entering their U2 year. For admission requirements, please refer to the website or contact the B.Com. Student Affairs Office.
Required Courses (45 credits)
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ACCT 354 Financial Statement Analysis (3 credits)
Overview
Accounting : Interpretative nature of the conceptual framework underlying a multitude of financial reporting standards, including the impact of alternative accounting methods, management biases and stakeholder interests in the analysis and valuation of the firm.
Terms: Fall 2010, Winter 2011
Instructors: Zhang, Sanjian; Scott, Julia (Fall) Scott, Julia; Degrace, Lynn (Winter)
- Prerequisites: MGCR 211 and MGCR 341
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ACCT 452 Financial Reporting Valuation (3 credits)
Overview
Accounting : Models to determine firm value from accounting information and a broader perspective on key sources of information, key value drivers, in a setting where evaluating firm value is the ultimate purpose.
Terms: Winter 2011
Instructors: Occhionero, Antonio (Winter)
- Prerequisite: ACCT 354.
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FINE 342 Finance 2 (3 credits)
Overview
Finance : In-depth study of corporate finance, risk, diversification, portfolio analysis, and capital market theory.
Terms: Fall 2010, Winter 2011, Summer 2011
Instructors: Madan, Sujata; Malkhozov, Aytek (Fall) Bouvard, Matthieu; Hung, Loretta (Winter)
- Restriction: For Finance Concentration/Major/Honours
- Prerequisite: MGCR 341
- Restriction: Only one of FINE 342 or FINE 343 can be counted for credit
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FINE 440 Honours Investment Management Research Project 1 (3 credits)
Overview
Finance : Research work on company, industry, risk management, strategy and macro research reports, contemporary issues in finance presented by market practitioners.
Terms: Winter 2011
Instructors: Ericsson, Jan Edvard (Winter)
- Restriction: Restricted to U2 students in B.Com.; Honours in Investment Management program.
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FINE 441 Investment Management (3 credits)
Overview
Finance : Application of investment principles and security analysis to the selection and comparison of equity and fixed income securities in the current economic and financial environment. Also covered are: determinants of stock prices, growth models and portfolio diversification.
Terms: Fall 2010, Winter 2011, Summer 2011
Instructors: Goyenko, Ruslan (Fall) Hammami, Larbi (Winter)
- Prerequisite: MGCR 341
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FINE 443 Applied Corporate Finance (3 credits)
Overview
Finance : Concepts and techniques are applied to problems faced by managers in Corporate Finance, such as working capital management, capital budgeting, capital structure, dividend policy, cost of capital, and mergers and acquisition. Application of theory and techniques through case studies.
Terms: Fall 2010, Winter 2011
Instructors: Nain, Amrita; Hammami, Larbi (Fall) Chaudhury, Mohammed M (Winter)
- Prerequisite: FINE 342
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FINE 448 Financial Derivatives (3 credits)
Overview
Finance : The course will concentrate on both the analytical and practical aspects of investments in options and futures. The first part of the course concentrates on option and futures valuation, considering both discrete and continuous time models. The second part of the course concentrates on the practical aspects of options and futures trading.
Terms: Fall 2010, Winter 2011
Instructors: Chaudhury, Mohammed M (Fall) Kang, Sang Baum (Winter)
- Prerequisite: MGSC 272 or equivalent
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FINE 449 Market Risk Models (3 credits)
Overview
Finance : Dynamic market risk models including GARCH volatility models, dynamic conditional correlation models, non-normal return distributions, option pricing allowing for skewness and kurtosis, and option risk management using delta, delta-gamma and full-valuation.
Terms: Fall 2010
Instructors: di Pietro, Vadim (Fall)
- Prerequisites: FINE 441 and MGSC 272 or equivalent.
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FINE 450 Honours Investment Management Research Project 2 (3 credits)
Overview
Finance : Continuation of research work on company, industry, risk management, strategy and macro research reports, contemporary issues in finance presented by market practitioners.
Terms: Winter 2011
Instructors: Ericsson, Jan Edvard (Winter)
- Prerequisite: FINE 440
- Restriction: Restricted to U3 students in B.Com.; Honours in Investment Management program.
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FINE 451 Fixed Income Analysis (3 credits)
Overview
Finance : Fixed income financial instruments and their uses for both financial engineering and risk management (at the trading desk and aggregate firm level). This will involve coverage of fixed income mathematics, risk management concepts, term structure modeling, derivatives valuation and credit risk analysis.
Terms: Fall 2010
Instructors: Croitoru, Benjamin (Fall)
- Prerequisite: FINE 441
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FINE 455 Alternative Investments (3 credits)
Overview
Finance : Alternative asset classes and analysis of the expected risk and return on alternative investment strategies including long-short equity, convertible arbitrage, managed futures, and quantitative trading strategies. Alternative investment strategies include commodities, derivatives, hedged strategies, real estate, private equity and venture capital.
Terms: Fall 2010
Instructors: Ericsson, Jan Edvard (Fall)
- Prerequisite(s): FINE 441
- Corequisite(s): FINE 448 and FINE 451
- This course is restricted to students in the Honours Investment Management program.
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FINE 480 Global Investments (3 credits)
Overview
Finance : Major principles of international investments and global asset allocation, focusing on recent developments in modeling and predicting global asset returns. Main approaches to stock selection, style investing, and special issues such as indirect diversification and country and industry effects in equity pricing. Use of Datastream and other financial data sources.
Terms: Winter 2011
Instructors: Madan, Sujata (Winter)
- Prerequisite: FINE 441, FINE 482
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FINE 482 International Finance 1 (3 credits)
Overview
Finance : The international financial environment as it affects the multinational manager. Balance of payments concepts, adjustment process of the external imbalances and the international monetary system. In depth study of the institutional and theoretical aspects of foreign exchange markets; international capital markets, including Eurobonds and eurocredit markets.
Terms: Fall 2010, Winter 2011
Instructors: Carrieri, Francesca (Fall) Hammami, Larbi (Winter)
- Prerequisite: MGCR 341
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FINE 541 Applied Investments (3 credits)
Overview
Finance : Students are exposed to practical aspects of managing investment portfolios. A principal activity of students is participation in the management of a substantial investment fund.
Terms: Winter 2011, Fall 2010
Instructors: Lester, Kenneth (Winter) Lester, Kenneth (Fall)
- Prerequisite (Undergraduate):FINE 441. Limited enrolment. Prerequisite (Graduate): Permission of the instructor.
- Restriction(s): Open to U2 students only
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MGSC 272 Advanced Business Statistics (3 credits)
Overview
Management Science : A practical managerial approach to advanced simple and multiple regression analysis, with application in finance, economics and business, including a review of probability theory, an introduction to methods of least squares and maximum likelihood estimation, autoregressive forecasting models and analysis of variance.
Terms: Fall 2010
Instructors: Smith, Brian E (Fall)
- Prerequisite: MGCR 271
- Restriction: Not open to students who have taken MGCR 272
Desautels Faculty of Management—2010-2011 (last updated Nov. 3, 2010) (disclaimer)