Learning Outcomes: 1. Obtain a basic understanding of the UW finance industry ecosystem
Audience: Undergraduate

2. Develop a detailed knowledge of the seven finance industry pathways
Audience: Undergraduate

3. Recognize the distinction between corporate finance, the buy-side, and the sell-side finance industry sectors
Audience: Undergraduate

4. Explain the interactions between individuals, corporations, the sell-side, and the buy-side
Audience: Undergraduate

5. Identify the career pathways available within the finance industry
Audience: Undergraduate

6. Identify the WSB resources available to assist in pathway career exploration, exposure, and preparation (including experiential and extra/co-curricular opportunities, and internal academic and advising resources)
Audience: Undergraduate

Learning Outcomes: 1. Navigate and utilize the Excel interface, including optimal settings for financial modeling
Audience: Undergraduate

2. Utilize Excel keyboard shortcuts most common to financial modeling
Audience: Undergraduate

3. Understand and utilize best practices to build a financial model that is error-free, well-structured and user-friendly
Audience: Undergraduate

4. Understand and utilize best practices related to error prevention while modeling
Audience: Undergraduate

5. Construct an integrated income statement, balance sheet and cash flow statement
Audience: Undergraduate

6. Incorporate circular references via interest expense and interest income, and manage them with a “circuit breaker”
Audience: Undergraduate

7. Construct a three-statement integrated financial model with a cash sweep and waterfall debt schedule
Audience: Undergraduate

8. Build a model from scratch using corporate historical financial statements as a starting point
Audience: Undergraduate

9. Understand various approaches to developing a top-line forecast
Audience: Undergraduate

10. Apply error checking and correction techniques to completed model to ensure accuracy
Audience: Undergraduate

Learning Outcomes: 1. Apply discounted cash flow analysis in various contexts and determine the appropriate discount rate for these calculations.
Audience: Undergraduate

2. Calculate and interpret the effect of leverage on firms’ cost of debt, cost of equity, and a company’s cost of capital under different assumptions.
Audience: Undergraduate

3. Characterize an efficient market and explain the implications of market efficiency for investors and corporations.
Audience: Undergraduate

4. Characterize different types of securities (including stocks, bonds, and derivatives) and identify the key features of each.
Audience: Undergraduate

5. Compute present and future values under different compounding assumptions.
Audience: Undergraduate

6. Demonstrate a command of the Capital Asset Pricing Model, including its strengths and weaknesses and its use in computing expected returns.
Audience: Undergraduate

7. Demonstrate the power of diversification and the risk-return tradeoff quantitatively.
Audience: Undergraduate

8. Solve capital budgeting problems using appropriate decision rules, taking into account the strengths and weaknesses of the available approaches.
Audience: Undergraduate

Learning Outcomes: 1. Understand the sources and uses of funds for the main financial institutions in the U.S.
Audience: Undergraduate

2. Explain how deposit money is created in the banking system.
Audience: Undergraduate

3. Summarize how government budget deficits affect the money supply.
Audience: Undergraduate

4. Classify the various instruments the Federal Reserve uses to influence interest rates and the money supply.
Audience: Undergraduate

5. Understand how monetary and fiscal policies can affect the economy.
Audience: Undergraduate

6. Explain how monetary policy can affect the aggregate supply schedule in the economy.
Audience: Undergraduate

7. Infer how financing decisions of firms change over the business cycle.
Audience: Undergraduate

8. Interpret how Basle 3 and the Dodd-Frank affect the business model of financial institutions.
Audience: Undergraduate

9. Conclude how the Consumer Financial Protection Bureau affects the business model of financial institutions.
Audience: Undergraduate

Learning Outcomes: 1. Understand the fundamentals of programming and how those fundamentals are implemented in Python
Audience: Undergraduate

2. Download, organize, and manipulate data to prepare them for Finance applications
Audience: Undergraduate

3. Visualize and organize Financial Data for the purpose of creating effective presentations
Audience: Undergraduate

4. Apply these programming skills in the context of standard financial applications such as asset pricing model estimation, Monte Carlo simulations for capital budgeting purposes, portfolio optimization, and financial analysis and forecasting
Audience: Undergraduate

Learning Outcomes: 1. Solve real-world investment problems
Audience: Undergraduate

2. Formulate the trade-off between risk and return
Audience: Undergraduate

3. Describe the distribution of returns on broad asset classes
Audience: Undergraduate

4. Identify investors’ risk preferences
Audience: Undergraduate

5. Use portfolio optimization techniques to develop an asset allocation for an investor
Audience: Undergraduate

6. Examine factor models of returns
Audience: Undergraduate

7. Compare different equilibrium security pricing models
Audience: Undergraduate

8. Debate market efficiency
Audience: Undergraduate

Learning Outcomes: 1. Set a capital budget
Audience: Undergraduate

2. Evaluate projects with discount cash flow valuation
Audience: Undergraduate

3. Compute the appropriate cost of capital
Audience: Undergraduate

4. Value whole firms with discount cash flow valuation
Audience: Undergraduate

5. Identify factors that determine an optimal capital structure of a firm and how debt impacts financial decisions
Audience: Undergraduate

6. Explain the basics of mergers and acquisitions
Audience: Undergraduate

Learning Outcomes: 1. Explain the differences between various derivative contracts including forwards, futures, options, swaps and credit derivatives.
Audience: Undergraduate

2. Derive the no-arbitrage forward/futures prices.
Audience: Undergraduate

3. Demonstrate the technical skills of applying various option pricing methods.
Audience: Undergraduate

4. Implement various derivative trading strategies to generate profit.
Audience: Undergraduate

5. Use derivatives to hedge financial and business risks.
Audience: Undergraduate

Learning Outcomes: 1. Apply the mathematics of fixed income markets.
Audience: Undergraduate

2. Utilize appropriate tools and techniques, including various measures of duration and convexity, to make decisions about trading and hedging portfolios of fixed income securities.
Audience: Undergraduate

3. Explain the structure and uses of fixed income derivative instruments, including options, forwards and swaps.
Audience: Undergraduate

Learning Outcomes: 1. Explain how bank operations and strategy are impacted by regulatory constraints, competition, and many risks inherent in banking.
Audience: Undergraduate

2. Identify the major components of a bank balance sheet and income statement.
Audience: Undergraduate

3. Analyze bank performance using industry standard bank profitability and capital planning models and the bank regulator CAMELS methodology.
Audience: Undergraduate

4. Manage interest risk in banks.
Audience: Undergraduate

5. Articulate the basics of both commercial and consumer lending including customer profitability analysis.
Audience: Undergraduate

Learning Outcomes: 1. Demonstrate the fluency necessary to understand/explain current and historical financial news and events, particularly with respect to mergers and acquisitions, initial public offerings and investment banking
Audience: Undergraduate

2. Locate relevant information in financial statements
Audience: Undergraduate

3. Utilize appropriate financial technologies and databases (Excel, CapIQ and Bloomberg) to access and effectively present financial information
Audience: Undergraduate

4. Understand that value changes depending upon what is being priced
Audience: Undergraduate

5. Determine what each valuation model is actually valuing
Audience: Undergraduate

6. Determine effect of leverage
Audience: Undergraduate

7. Describe differences in types of debt tranches
Audience: Undergraduate

8. Demonstrate how to create a discounted cash flow model
Audience: Undergraduate

9. Demonstrate how to value using comparable companies
Audience: Undergraduate

10. Demonstrate how to value using precedent transactions
Audience: Undergraduate

11. Create and defend a basic leveraged buyout model
Audience: Undergraduate

12. Calculate if acquisition is accretive or dilutive
Audience: Undergraduate

Learning Outcomes: 1. Examine new issues related to frictional markets by looking at old issues in new ways.
Audience: Both Grad & Undergrad

2. Demonstrate economic reasoning about the economy at a micro and macro level by applying the foundations of mainstream economics.
Audience: Both Grad & Undergrad

3. Explain credit market rationing and its impact on markets for housing, small business loans and other investments.
Audience: Both Grad & Undergrad

4. Articulate the contributing factors of bubbles and crashes in asset prices.
Audience: Both Grad & Undergrad

5. Articulate the role of money and banking in the inter-temporal allocation of resources.
Audience: Both Grad & Undergrad

6. Articulate your perspectives on fundamental questions like: Why we use money? What is a bank? How do organizations (like firms or families) form?
Audience: Both Grad & Undergrad

7. Propose and motivate research questions in the fields of search theory and applied search, place these questions in the context of the relevant literature, and adopt the appropriate methodological approach to address them.
Audience: Graduate

Learning Outcomes: 1. Assess business models so as to understand the future performance and intrinsic value of a particular business
Audience: Undergraduate

2. Develop a framework to assess business quality and how it might change over time
Audience: Undergraduate

3. Identify key drivers of an industry and company
Audience: Undergraduate

4. Analyze the financial information that comes to market from the companies as a means to extrapolate future information
Audience: Undergraduate

5. Develop a view (a preliminary investment thesis) utilizing a methodology to develop forecasts and projected financial model for a company
Audience: Undergraduate

6. Write a short investment thesis and recommendation for a company’s stock
Audience: Undergraduate

Learning Outcomes: 1. Analyze two specific companies and their business models to estimate likely future performance and intrinsic value.
Audience: Undergraduate

2. Describe the competitive dynamics in the related industries
Audience: Undergraduate

3. Explain how key drivers affect a company’s financials
Audience: Undergraduate

4. Conduct field research to assess the business models and validate key drivers
Audience: Undergraduate

5. Create a survey to views (preliminary investment theses) with evidence from field research
Audience: Undergraduate

6. Create a pitch report for each stock summarizing conclusions with supporting analysis
Audience: Undergraduate

7. Develop presentation techniques through in-class stock pitch presentations
Audience: Undergraduate

Learning Outcomes: 1. Accurately apply Estate Planning terminology, planning process, strategies and illustrate tax and non-tax outcomes.
Audience: Both Grad & Undergrad

2. Procure and analyze select qualitative and quantitative data to prioritize goals, articulate current plan weaknesses and formulate alternative options.
Audience: Both Grad & Undergrad

3. Demonstrate how various Trust arrangements might maximize the benefits or improve the efficiency of an estate plan.
Audience: Both Grad & Undergrad

4. Effectively collaborate with other professionals, on the development of an Estate Plan by experiencing the Multi-Disciplinary Team Approach to Estate Planning.
Audience: Both Grad & Undergrad

5. Apply the CFP Board Financial Planning Practice Standards and Code of Ethics to the practice of Estate Planning.
Audience: Both Grad & Undergrad

6. Describe the various methods, benefits and tax treatment of disposing a closely-held business during life and at death.
Audience: Graduate

Learning Outcomes: 1. Demonstrate a comprehensive understanding of the content found within the Financial Planning curriculum and effectively apply and integrate thisinformation in the formulation of a financial plan.
Audience: Undergraduate

2. Effectively communicate the financial plan, both orally and in writing,including information based on research, peer, colleague or simulated client interaction and/or results emanating from synthesis of material.
Audience: Undergraduate

3. Collect all necessary and relevant qualitative and quantitative informationrequired to develop a financial plan.
Audience: Both Grad & Undergrad

4. Analyze personal financial situations, evaluating clients' objectives, needs,and values to develop an appropriate strategy within the financial plan.
Audience: Both Grad & Undergrad

5. Demonstrate logic and reasoning to identify the strengths and weaknesses of various approaches to a specific problem.
Audience: Both Grad & Undergrad

6. Evaluate the impact of economic, political, and regulatory issues with regard to the financial plan.
Audience: Graduate

7. Apply the CFP Board Financial Planning Practice Standards to the financialplanning process (including applying the regulations and ethical behavior that governs the relationship between the planner and the client).
Audience: Both Grad & Undergrad

Learning Outcomes: 1. Demonstrate a fundamental knowledge of the terminology, foundational concepts and tools necessary to value companies
Audience: Undergraduate

2. Demonstrate the ability to forecast and use appropriate financial statements to determine the value of companies
Audience: Undergraduate

3. Use financial data sources for valuation
Audience: Undergraduate

4. Build valuation models using spreadsheets
Audience: Undergraduate

5. Articulate the differences as well as the common elements among the various valuation models
Audience: Undergraduate

6. Apply common valuation methods
Audience: Undergraduate

Learning Outcomes: 1. Forecast a company's financial capital structure, liquidity and credit metrics, which will indicate whether the credit profile will improve or deteriorate.
Audience: Both Grad & Undergrad

2. Identify the qualitative and quantitative factors that go into evaluating a company’s current and future credit profile and assigning credit ratings.
Audience: Both Grad & Undergrad

3. Develop a Bloomberg Launchpad to monitor news and markets and use Bloomberg to evaluate relative value of bonds, loans and credit default swaps.
Audience: Both Grad & Undergrad

4. Explain the similarities and differences in evaluating industrials, financial institutions, municipals and developed and emerging market sovereign debt.
Audience: Both Grad & Undergrad

5. Read and evaluate corporate credit documentation including bank credit agreements and bond prospectuses.
Audience: Both Grad & Undergrad

6. Describe the hierarchy of decisions and different strategies for managing fixed income portfolios and how to evaluate performance vs a benchmark.
Audience: Both Grad & Undergrad

7. Prepare comparable (comps) sheet analysis for financial and sovereign issuers and identify trading opportunities.
Audience: Graduate

Learning Outcomes: 1. Apply an analytical framework to a security selection process, including identifying and forecasting key drivers of company performance.
Audience: Both Grad & Undergrad

2. Produce a three-statement financial model with relevant ratios and forward-looking forecasts.
Audience: Both Grad & Undergrad

3. Apply absolute and relative valuation approaches to companies to assist with making investment decisions.
Audience: Both Grad & Undergrad

4. Articulate how analysts conduct field research, including sources frequently used in researching companies, management teams and industries.
Audience: Both Grad & Undergrad

5. Formulate an investment thesis statement and persuasively communicate the recommendation to others.
Audience: Both Grad & Undergrad

6. Establish a network of contacts and relationships in the investment community through the interview process and by participating in alumni and industry events.
Audience: Graduate

Learning Outcomes: 1. Produce an economic forecast to be used in developing equity and fixed income market return forecasts and in managing individual equity and fixed income portfolios.
Audience: Both Grad & Undergrad

2. Recommend a tactical asset allocation utilizing equity and fixed income return and risk forecasts.
Audience: Both Grad & Undergrad

3. Develop methodology for allocating assets between the equity and fixed income alternatives that maximizes expected return subject to risk within specified guidelines.
Audience: Both Grad & Undergrad

4. Create an investment philosophy and related portfolio decision making process for its implementation.
Audience: Both Grad & Undergrad

5. Develop a process to identify and critique new investment opportunities.
Audience: Both Grad & Undergrad

6. Monitor and control the risk of an investment portfolio.
Audience: Both Grad & Undergrad

7. Enhance existing network of contacts and relationships in the investment community for job placement, and industry events.
Audience: Graduate

Learning Outcomes: 1. Understand how to identify the motives for acquisition and how to value an acquisition target both independently and as part of the integrated firm.
Audience: Both Grad & Undergrad

2. Demonstrate a basic understanding of the legal framework underlying the merger transaction, including negotiation, announcement, antitakeover defenses, the fiduciary duties of the board of directors and management, and antitrust regulation.
Audience: Both Grad & Undergrad

3. Explain the mechanics of takeover defense strategies, their use and misuse by incumbent management, and the concept of managerial entrenchment.
Audience: Both Grad & Undergrad

4. Be able to parse the details of a merger from the disclosed agreement and to understand the incentives of the various parties involved, including target and acquirer management and the facilitating investment bank.
Audience: Both Grad & Undergrad

5. Use financial statements to calculate earnings, leverage, and cash flow projections resulting from an acquisition or leveraged buyout.
Audience: Both Grad & Undergrad

6. Develop a broad theoretical framework that connects the theories of capital structure, managerial entrenchment, corporate governance and diversification to the decision to merge and the financing of the transaction.
Audience: Graduate

Learning Outcomes: 1. compute present values, future values, and returns under different compounding assumptions
Audience: Graduate

2. apply discounted cash flow analysis in a variety of contexts and determine the appropriate discount rate for these calculations
Audience: Graduate

3. outline the key considerations in potentially complex capital budgeting problems and employ appropriate decision rules to evaluate projects
Audience: Graduate

4. explain verbally and demonstrate quantitatively the power of diversification and the risk-return tradeoff
Audience: Graduate

5. characterize an efficient market and explain the implications of market efficiency for investors and corporations
Audience: Graduate

6. engage in the study of finance topics with classmates from a variety of personal, professional, and educational backgrounds so as to understand themselves better and how they can positively contribute to both their own and others’ success
Audience: Graduate

Learning Outcomes: 1. Formulate the trade-off between risk and return for real-world investment problems
Audience: Graduate

2. Describe the distribution of returns on broad asset classes
Audience: Graduate

3. Use portfolio optimization techniques to develop an asset allocation for an investor
Audience: Graduate

4. Examine factor models of returns
Audience: Graduate

5. Compare different equilibrium security pricing models
Audience: Graduate

6. Debate market efficiency
Audience: Graduate

7. Compute bond prices and relate them to term structure theory
Audience: Graduate

8. Apply interest rate risk management to solve real-world problems
Audience: Graduate

Learning Outcomes: 1. Explain why, when and how companies raise debt and equity and decide on the mix of both sources of finance.
Audience: Graduate

2. Recognize the effect of agency costs – adverse selection and moral hazard - on the capital structure of the firm.
Audience: Graduate

3. Explain how firms choose to structure hybrid securities to reduce market frictions.
Audience: Graduate

4. Differentiate how firms manage risks both internally as well as with derivative contracts.
Audience: Graduate

5. Summarize the different ways firms return money to investors and the logic behind different payout policies.
Audience: Graduate

Learning Outcomes: 1. Compare and contrast the risk and theoretical valuation of derivative securities in competitive markets.
Audience: Graduate

2. Execute “real” trades through Interactive Brokers to connect the theories of hedging and trading derivatives to real-life applications.
Audience: Graduate

3. Summarize research that identifies derivative trading strategies.
Audience: Graduate

Learning Outcomes: 1. Demonstrate the knowledge and skills needed as a senior financial officer of an international firm.
Audience: Graduate

2. Understand how the international economic and financial environment and the exchange rates affect financial decisions by firms.
Audience: Graduate

3. Apply the methods used to measure, manage and analyze the effects posed by exchange rate uncertainty to the income statement and balance sheet of a firm.
Audience: Graduate

4. Articulate the choices and challenges faced by managers when sourcing funds in the global capital markets, and in making complex foreign investment decisions
Audience: Graduate

Learning Outcomes: 1. Understand the different valuation methods, financing alternatives and the ways in which strategic choices interact with valuation and fundraising
Audience: Graduate

2. Integrate the critical roles and processes of the venture capital (VC) industry, the financial instruments they typically use and details of VC contracts
Audience: Graduate

3. Use the necessary theoretical and practical tools to contextualize which valuation method and assumptions are most appropriate in different circumstances
Audience: Graduate

Learning Outcomes: 1. Expand professional network and reflect on interactions with industry professionals
Audience: Graduate

2. Articulate various career pathways and roles within finance
Audience: Graduate

3. Demonstrate developed professional skills, both written and verbal
Audience: Graduate

Learning Outcomes: 1. Build models for pricing and risk-managing equity, interest rate, and credit derivatives.
Audience: Graduate

2. Explain the relationship between martingales and stochastic discount factors.
Audience: Graduate

3. Apply the rules of stochastic calculus to derive valuation equations for contingent claims relying on the concepts of no-arbitrage and replication.
Audience: Graduate

4. Price derivatives using analytical methods, including log-normal and exponential-affine models.
Audience: Graduate

5. Price derivatives using numerical methods, including Monte Carlo simulations and numerical solutions to dynamic valuation equations.
Audience: Graduate

Learning Outcomes: 1. Demonstrate the theoretical body of work that comprises corporate finance, including its fundamental theorems
Audience: Graduate

2. Examine the big open questions in theoretical research in corporate finance
Audience: Graduate

3. Apply the quantitative methods used in corporate finance research
Audience: Graduate

4. Utilize statistical software and financial databases to perform econometric analyses commonly used in academic corporate finance research.
Audience: Graduate

5. Use standard reduced-form and structural approaches to address problems of endogeneity in answering questions of causality.
Audience: Graduate

6. Identify, describe, and produce questions at the frontier of research in academic corporate finance.
Audience: Graduate

Learning Outcomes: 1. Evaluate frontier research papers in financial economics.
Audience: Graduate

2. Formulate a new research question based on surveyed literature.
Audience: Graduate

3. Effectively present research findings in an academic setting.
Audience: Graduate