Possible list of courses and schedule of classes for Ph.D students: Required courses are shown in italics. Minimum number of classes to be taken is – 12. Any special finance seminars that visitors offer is not part of this course schedule.
1st Year 1st Semester
Micro Economics
Statistics – Probability theory
Econometrics – I
Math for economists (if available)
1st year 2nd semester
Econometrics – II
Advanced Micro Econ (6101)
Finance Seminar I (Takeshi)
1st Year Special Term
MBA requirement II – Derivatives (For specific students only)
2nd Year 1st Semester
Econometrics – Time series
Finance seminar II – Empirical Corporate Finance (S. Ahn)
MBA requirement I (Financial management) (For specific students only)
Macro Economics
Summer Paper Presentation
2nd Year 2nd Semester
Finance seminar III – Empirical Finance (Nan Li)
Finance seminar IV – Corporate Finance Theory (Hassan)
Other advanced topics – Depending on individual students needs
Course descriptions
BFA6001 Accounting Research Seminars
The objective of the course is to introduce students to research topics in accounting. Both theoretical and empirical research will receive much attention in the course. The students will understand which accounting issues are important, why they are important, and how these research issues might be explored. Selected accounting research issues covered in the course are informational perspective of accounting, measurement perspective of accounting, positively accounting research, earnings management, corporate governance, managerial planning and control.
BFA6002 Finance Theory
This is a foundation course in investment decision making and asset pricing. The topics covered in the course are utility theory, decision making under uncertainty, mean-variance portfolio analysis, portfolio separation, equilibrium pricing in static and dynamic economies, risk neutral pricing in static and dynamic economies, stochastic discount factor interpretation of asset pricing, and asset pricing with differential information.
BFA6003 Corporate Finance
This is a foundation (theory) course of corporate finance. The course reviews basic concepts of game theory, information economics, contract theory used in corporate finance theory. The topics cover financial structure, financing investment, tax system, dividend policy, M&A, and bankruptcy and reorganization
BFA6004 Empirical Finance
This course deals with the fundamental ideas and issues tackled in empirical research in finance. It provides a basic overview of the theoretical concepts underpinning financial models as well as the methodology employed to test these models. The course surveys a wide range of empirical work and key empirical papers on the topics selected. The selection of topics and papers will change from year to year and might include asset pricing models, market efficiency, market anomalies, return predictability, behavioral finance, market microstructure, trading mechanisms, volatility models, and international finance.
BFA6005 Topics in Finance and Accounting Research
Topics vary from year to year depend on the interests of the students
EC5101 Microeconomic Theory
The purpose of this module is to provide students with a sound understanding of modernmicroeconomic theory. The main focus of the module is on general equilibrium analysis, and its various building blocks such as consumer and producer theories. Other topics that will be covered include game theory, information economics, and welfare economics.
EC6103 Econometric Modelling and Applications
The objective of this course is to provide students with a fundamental understanding of econometrics and hands-on experience with data analysis. The course is quantitative in nature, but emphasis will be placed on familiarizing students with the methodology and with applications of the methodology to real business or economic issues. This exposure should equip students with a higher level of quantitative research ability and a better judgment as to the applicability of various methods and models.
EC5204 Advanced Econometrics
This is a sequence in econometrics modules for graduate students with some backgrounds.
EC6103 is a prerequisite. The module will emphasize on the application of econometric techniques. The module will cover (1) linear regression models-estimation and hypothesis testing, (2) simultaneous equation models, (3) time series analysis, (4) generalized method of moments, (5) panel regression, (6) limited dependent variable models.
EC5210 Mathematical Economics
The main purpose of this module is to provide students with a systematic exposition of certain advanced mathematical techniques and to relate them to the various types of economic theories and analyses in such a way that the mutual relevance of the two disciplines is clearly brought out. Basically, the module is divided into five major parts: (a) static analysis, (b) comparative static analysis, (c) dynamic analysis, (d) optimisation problems and mathematical programming, and (e) welfare economics. The mathematical tools appropriate for each are then introduced in due order within the economic framework of each topic. The module is expected to provide students with a clear understanding of the numerous existing economic models, including models of the market, of the firm, and of the consumer, national income models, input-output models, and models of economic growth.
EC5215 Industrial Organization
The purpose of this module is to make in-depth analysis and understand various theoretical issues of modern industrial organization. The approach of this module will be game theoretic. In the beginning, basic concepts of non-cooperative game theory will be reviewed in detail. This will lay the foundation to study various applications of game theoretic models in the field of industrial organization.
MA5261 Applied Stochastic Processes
Topics in stochastic processes emphasizing applications, Branching processes, point processes, reliability theory, renewal theory.
PL5103 Organizational and Economic Psychology
This module is intended to familiarize students with applications of the facts and principles of psychology to organizational and consumer behaviors. The focus will be on how individuals earn, save, and spend their earnings. Two issues are
- how do people exchange their talents, effort, and time with organizational outcomes of pay, position, recognition, satisfaction, among other factors? and
- how do they spend their money, time, and effort on consumption-related items? The sessions will include lectures, seminars, and case discussions.
ST5201 Basic Statistical Theory
Basic concepts in probability, limit theorems, families of distributions, estimation, method of moments, maximum likelihood method, bootstrap method, classical confidence intervals, bootstrap confidence intervals, hypothesis testing, likelihood ratio tests.
ST5215 Advanced Statistical Theory (Prerequisite: ST2131 and ST2132 or Departmental Approval)
Review: Weak Law of large numbers, central limit theorem, Slutsky theorem, delta method and variance stabilizing transformation. Statistical models. Sufficiency and Neyman's Factorization criterion. Scores. Exponential families. Estimation methods: moment, maximum likelihood, least squares. Optimality of estimates. Unbiasedness, minimum variance, completeness, UMVU estimates. Theorems of Rao-Blackwell, Cramer-Rao, Lehmann-Scheffe. Consistency. Large sample theory of MLE's, Bayes, minimax. Confidence intervals, P-values, classical (Neyman-Pearson) tests, UMP tests, Likelihood ratio test, Power, Wald's test, Rao's Score test, Application of likelihood ratio tests to regression.
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