The class will also include several noteworthy guest speakers from the private equity industry and several smaller case studies to reinforce key topics. , *** - , : , . It aims at: 1) Introducing the main models used in practical applications to price and hedge derivatives; 2) Understanding their comparative advantages and limitations, as well as how they are calibrated and applied. Its objective is to bring students, academics and industry experts together to study financial markets, practice, and institutions in this region. The relevant accounting topics and the appropriate finance theory are integrated to show how to implement the valuation frameworks discussed on a step-by-step basis. Jay Bishen, WG22, reflects on his internship at the Development Finance Corporation, a U.S. government agency. (Formerly FNCE 884) The goal of this course is to put students in the seat of a private equity professional working on an investment from start to finish. The course will highlight how big data and data analytics shape the way finance is practiced. There is an abundance of evidence suggesting that the standard economic paradigm - rational agents in an efficient market - does not adequately describe behavior in financial markets. A team of Penn students in Wharton Impact Venture Associates (WIVA) sourced an impact investment deal into a startup that aims to champion sustainable and ethical practices in the fashion industry. We use data, current events of the 2007-2018 period as the basis for discussion and assignments. Designed for investors and entrepreneurs alike, participants will come away with a greater understanding of how venture capital (VC) works; how the best venture capitalists source, screen, and value deals; and how to design contracts that protect both investors and founders. and When you buy through links on our site, we may earn an affiliate commission. Topics include diversification, asset allocation, portfolio optimization, factor models, the relation between risk and return, trading, passive (e.g., index-fund) and active (e.g., hedge-fund, long-short) strategies, mutual funds, performance evaluation, long-horizon investing and simulation. This course explores different financing models, including bootstrapping, organic growth, debt and risk capital, and also provides a clear overview of equity financing including the key types of investors: angels, venture capital, and crowdfunding.
The lectures expose the students to the institutional and empirical facts as well as approaches followed by leading shareholder activists. Elements of the Pitch and Exit Strategies. To do so, students will investigate a variety of empirical questions from different areas within finance by way of data labs, or case studies that rely on data and analytics. MBA/MA Lauder Joint Degree in International Studies Program, Francis J. Start-ups can benefit from a wide variety of financing options on the path to profitability, but how do you know which one to choose? Wharton School of the University of Pennsylvania These include: investment decisions under uncertainty, mean-variance theory, capital market equilibrium, arbitrage pricing theory, state prices, dynamic programming, and risk-neutral valuation as applied to option prices and fixed-income securities. Three team projects will be assigned that will give you deeper exposure to analytic techniques related to the course. Assignments require students to develop/practice skills on fundamental analysis. In addition to prerequisites, FNCE 7050 is recommended but not required. Venture Capital, a program from Wharton Executive Education, will lift the veil on one of the most exciting and perhaps least transparent areas in finance. We believe strongly that diagnosing and treating the "disease" of fiscal mismanagement is an interdisciplinary endeavor drawing on finance, economics, political science, and the law. Topics covered in depth include discounted cash flow techniques and price multiples. By the end of this module, you'll be able to create an effective pitch, and begin developing an exit strategy for your company that's relevant, effective and profitable. We seek to understand the underlying economic, political, and legal/regulatory causes of such events so that they may be prevented in the future. By the end of this course, youll have an understanding of what success looks like and how it can be financed. I loved it. We learn about how 2U is benefitting from edX, but very little about how edX benefits from 2U. The course will draw upon the fiscal experiences of US local governments (New York, Philadelphia, Detroit, Orange County, Puerto Rico), utilities (WPPSS) and states (Illinois), and the international experience from such countries as Greece, Brazil, and Argentina. The case studies are designed to provide students an experience on identifying potential opportunity for value creation through active engagement. The key themes of the framework - all parties, all taxes and all costs - are applied to decision contexts such as investments, compensation, organizational form, regulated industries, financial instruments, tax-sheltered investments, mergers and acquisitions, multinational, and multistate. In addition to course prerequisites, FNCE 6130 is recommended but not required. (Formerly FNCE 615) This half-semester course in Macroeconomics is intended for non-finance majors. (Formerly FNCE 893) Understanding and predicting central banking decision making and behavior is crucial for all market participants from asset managers and traders to private consumers. ISP's must be supervised by a Standing Faculty member of the Finance Department. You'll discover how term sheets work, and what the terms mean, and you'll also examine the other terms used when financing with angel investors, friends and family, loans, and crowdfunding. While it will touch upon various strategic, organizational, and general management issues, the main lens for studying these transactions will be a financial one. , , , , , , , ! Student are thus expected to work in teams and demonstrate a high level of independent learning and initiative. You'll also hear from a successful entrepreneur and venture capitalist from Greylock Partners, who will talk about what indicators of success his firms looks for when deciding where to invest. The objective of this course is to provide students with detailed knowledge of corporate structures, valuation methods, project finance, risk management practices, corporate governance issues, and geo-political risks in the energy industry. Because improving your career should not be work, Course information from University of Pennsylvania, The Wharton School. Learn how to prepare for the exams required to take certifications needed while you are at school. The course is built around data/code examples, cases, guest lectures, and group projects. Other areas that are covered in FNCE 6110 are covered more in depth and more rigorously in FNCE 7030. Project evaluation, financing strategies, investment decision making and capital markets are covered. The course covers a wide range of applications, including the use of derivatives in asset management, the valuation of corporate securities such as stocks and corporate bonds with embedded options, interest rate and credit derivatives, as well as crude oil derivatives. Additional topics will differ according to individual instructors. In this module, you'll learn the three key elements of your pitch to funders, and the examine the most common methods of exiting the entrepreneurial phase. Students with backgrounds in any of these disciplines are welcome. In this module, you'll learn the five most common methods of financing, and explore the financing process in depth. The cost of such crises for citizens, pensioners, and bond holders can be significant. Polk Carey JD/MBA Program, Leadership Ventures & Experiential Learning, Deferred Admission Moelis Advance Access Program, Investing in Emerging Markets One Social Enterprise at a Time, How the Turner MIINT Program Trains Students to Think Like Impact Investors, How This Philly Start-Up is Making Fashion More Sustainable, How This Alumna Is Driving $1 Billion to Women of Color Tech Entrepreneurs. Regardless, Impact Investing is becoming a distinct career specialization for finance professionals despite the diverse skillset each must have and the uncertainty of the new field's growth. The approach is rigorous and analytical but the course will not cover several topics included in the full semester Corporate Finance course, including: market efficiency, corporate financial policy (including capital structure, cost of capital, dividend policy, and related issues), and options. There is a vast amount of public (taxpayer) and private (typically private equity or banks) money directed into infrastructure investments. Upon completion of this course, students should acquire a clear understanding of the major principles concerning individuals' portfolio decisions under uncertainty and the valuations of financial securities. Throughout the semester, we will discuss public policy issues facing the international financial system. But for every successful, disruptive, trailblazing start-up, there are dozens of other businesses that fail, even after receiving multiple infusions of capital. [ , . By the end of this course, students will be able to evaluate and discuss the global economic environment in which business and financial decisions are made. FNCE 7380 is recommended but not required. (Formerly FNCE 726) The objective of this course is to study the major decision-making areas of managerial finance and some selected topics in financial theory. Prerequisites: FNCE 6110 AND (ACCT 6110 OR ACCT 6130) AND (STAT 6130 OR STAT 6210). Venture capital is the fuel that drives emerging companies and ambitious entrepreneurs worldwide. 2022 Economist Executive Education Navigator. Skeptics think it will remain confined to the boutique. This class has very interesting material. This course discusses actual situations where companies need to make strategic decisions on raising equity capital. The format of the course will mix lectures with presentations from industry participants, hedge fund managers, those who invest in hedge funds, those who advise them and provide services to them, and those who regulate them. ( ) , . (Formerly FNCE 720) This course studies the concepts and evidence relevant to the management of investment portfolios. ! Youll learn about terms, and term sheets, exit modes and what exit strategy might be best for you. This module was designed to give you a closer look at the advantages and disadvantages of both public and private financing, and to provide you with some simple but powerful tools for estimating how much capital you will need. The course covers the various options available for distressed firms, such as out-of-court workouts, exchange offers, prepackaged and pre-negotiated, bankruptcies, distressed asset sales, 363 auctions, and Chapter 11 reorganization. , : , . This course focuses on international financial institutions, especially the activities of global, systemically important banks. This half-semester course combines lectures and cases, and will go through actual situation where companies need to make strategic decisions on raising equity capital. You'll learn about the added benefits of working with venture capital firms, when and why to consider debt financing, and the latest trends in crowdfunding. FNCE 703 or FNCE 707 are recommended. The Certificate Exam is designed to test your specific skills, comprehension and retention of the material covered in class. It will look at the legal foundations and structures of hedge funds including the primary regulations in the U.S. and abroad that are most relevant for hedge funds. The second element of the course is a series of case study panels based on market trends from the previous year that bring together key participants from recent deals, including the CEO or chairman of the company, the judge, the lead banker and lead lawyer, and the lead investors to give their insight and perspectives to the class. In addition to course prerequisites, FNCE 6130 is recommended. (Formerly FNCE 887) The aim of the course is to provide an introduction to shareholder activism. (Formerly FNCE 885) The course exposes students to this fast-growing and exciting intersection between finance (Fin) and technology (Tech) while emphasizing the role data and analytics play. Students will sharpen their conceptual knowledge of finance and valuation in order to properly estimate the value of a distressed firm, and its securities. The Global Business Week (GBW) is set of classes offered annually to WEMBA second years. The class will conduct a semester long case study, taking a specific transaction from the management presentation stage, to various modules in the deal process including: business diligence, industry diligence, accounting diligence, legal diligence, financial modeling, financing, valuation, negotiating the stock purchase agreement, and culminating in an investment committee presentation and recommendation. By the end of this module, you'll be able to pick the financing pathway that's best for your enterprise, use common valuation strategies to set a reasonable price for your company, and negotiate favorable terms. Key topics include national income accounting, production and economic growth, employment, business cycles, monetary and fiscal policy, and international finance. These include investment decision making under uncertainty, cost of capital, capital structure, pricing of selected financial instruments and corporate liabilities, and dividend policy. Omar F. completed this course, spending 2 hours a week on it and found the course difficulty to be easy. In each of these areas, we start by analyzing the marketplace, the incumbents, and then proceed to analyze the impact of the most relevant technologies have on the business. We will argue that their systematic biases can aggregate into observed market inefficiencies, thus giving rise to apparently profitable trading strategies. An equal number of graduate law and business students will be enrolled in this class. We will consider design, issuance, and pricing of financial instruments, the arbitrage strategies which keep their prices in-line with one another, and the associated economic and financial stability issues. Applications for FNCE 8990 ISP's will not be accepted after the THIRD WEEK OF THE SEMESTER. Outer Ring Road, Devarabeesanahalli Village, Enter pincode for exact delivery dates/charges. This class covers advanced pricing models for equity, fixed income and credit derivatives. Some programming and experience is helpful though knowledge of Python is not assumed. He has a wonderful business. Those who want to launch a hedge fund, join an existing one, invest in one, or provide services to one will want to register for this course. ISP in Finance are intended to give students the opportunity to study a particular topic in Finance in greater depth than is covered in the curriculum. , (), . No prior knowledge of the industry is required, but students are expected to rapidly acquire a working knowledge of real estate markets. They are often repeated, but try to accommodate student interest along with faculty expertise and willingness, so can change with some regularity. Open to MBA, Executive MBA and Undergraduate students, these modular courses are intended to provide unique educational experiences to students in a regional context that has particular resonance with the topic. The course will balance functional and institutional perspectives by highlighting the problems capital markets participants are seeking to solve, as well as, the existing assets and markets which have arisen to accomplish these goals. This module was designed to introduce you to some of the key activities you can do in order to reach and sustain profitability. via Coursera The course emphasizes the use of economic theory to understand the workings of financial markets and the operation and impact of government policies. Get your certificate in Exam Preparation. Prerequisites: (ACCT 6110 OR ACCT 6130) AND FNCE 6110. The primary objective is to provide a framework, concepts, and tools for analyzing financial decisions based on fundamental principles of modern financial theory. In addition to course prerequisites, FNCE 6130 is recommended but not required. We will address different phases of a company's life cycle. Quantitative models play a key role in the valuation and risk management of these securities. This course will cover methods and topics that form the foundations of modern asset pricing. PTNR01A998WXY {Wharton Executive Education Venture Capital} Video Course, {Wharton Executive Education Venture Capital} Video Course. The class focuses on risk management, investing, and arbitrage in these markets. FNCE 7030 or FNCE 7070 are recommended. The course will also analyze corporate financial policy, including capital structure, cost of capital, dividend policy, and related issues. We will also examine infrastructure investing as a alternative asset class from the investors' perspective. FNCE 7030 and FNCE 7070 are recommended but not required. Key topics include managing currency risk through hedging and financing, calculating the cost of capital for foreign operations, assessing sovereign risks, capital budgeting from a project and parent perspective, and international taxation. If we want to create a world thats a better place, we need people who can bring that sense of social justice and combine it with some practical Wharton toolkits so that they can be more impactful.. The first module covers mergers and acquisitions, and the second one studies buyouts by private equity partnerships. FNCE 6130 is recommended but not required. The course deals very little with individual security valuation and discretionary investing (i.e., "equity research" or "stock picking"). This exam gives you a chance to walk away feeling proud of yourself for all that you have accomplished. The course contains cases that help students evaluate the impact of more complex financing and capital markets tools used in real estate. , , () / () . This course will examine the provision of public services for firms and people through cities. The main objective of this course is build intuition and skills on (1) pricing and hedging of derivative securities, and (2) using them for investment and risk management. These tools include the "venture capital method," comparables analysis, discounted cash flow analysis, contingent-claims analysis. This course covers fixed income securities (including fixed income derivatives) and provides an introduction to the markets in which they are traded, as well as to the tools that are used to value these securities and to assess and manage their risk. 
The approach is rigorous and analytical. The course covers current conceptual and theoretical valuation frameworks and translates those frameworks into practical approaches for valuing companies. Major topics include foreign exchange rates, international money markets, currency and interest rate derivatives, international stock and bond portfolios, and cryptocurrencies.
Now that you've decided to continue your education and progress in your career, you're on a great path towards success. Further, we will examine more closely the preferences and trading decisions of individual investors. FNCE 7030 or FNCE 7070 are recommended. (), . Derek Stevens completed this course, spending 2 hours a week on it and found the course difficulty to be easy.