Financial markets are places where suppliers of capital (“investors”) and consumers of capital (“firms”) meet and trade. The first part of this course provides students with an introduction to these markets, including the key players and roles and responsibilities they perform. Students next examine the techniques, which both investors and firms use to deal with cash flows that occur at different points in time; students will look at valuation problems across several types of asset classes, such as bonds and stocks.
The second part of this course introduces the concepts of risk and uncertainty, which are central to an understanding of finance. We will introduce a measure of risk and develop a model of how this risk measure corresponds to a level of expected return on an asset or project. Students integrate this model of risk and return with the valuation of cash flows through time and consider the evidence on how prices in financial markets are related to value. This course concludes with a discussion of company financial statements, exploring the “language” and use of these statements for valuation purposes.
Course Level: Appropriate for sophomores and above with some experience in the same subject area, or in a related area.
Jennifer Conrad is the Dalton L. McMichael Sr. Distinguished Professor of finance and the senior associate dean for Academic Affairs. She conducts research in the investments area. Some of her earlier work concentrated on the causes of predictable patterns in returns as well as trading strategies related to these patterns, such as contrarian investing. More recently, she has worked on the relation between credit default swaps and the equity market, and the determinants and effects of high-frequency trading.
Dr. Conrad teaches financial management and investments. She has won three teaching awards and the research award at UNC Kenan-Flagler. She has served on the board of directors of the Financial Management Association, the Western Finance Association and the American Finance Association. She is a former president of the Financial Management Association and the current chair of its board of trustees. She received her PhD and MBA from the University of Chicago and her BS from Butler University.
Chip Snively is coordinator of the Investment Management concentration in UNC Kenan-Flagler’s BSBA and MBA programs and teaches courses in corporate finance and investments.
Previously, he was the co-director of the MBA program's Investment Management Academy, an applied investment management concentration/curriculum at the Kelley School of Business at Indiana University. At the Kelly School he also taught courses in the MBA (residential and online) and undergraduate programs, as well as a co-operative graduate program in Zagreb, Croatia.
Mr. Snively worked for Intel Corporation in various senior financial management roles, including running manufacturing facilities in Malaysia, China and Puerto Rico, and a strategic planning group in Arizona. Additionally, he has corporate finance experience with American Airlines and asset management experience with Liberty National Bank & Trust Company.
Mon, Wed 06:00pm - 07:20pm EDT