Marshall School of Business Business Curriculum 2 Business Careers (B2B) March 2, 2016

Transcription

1 Marshall School of Business Business Curriculum 2 Business Careers (B2B) March 2, 2016

2 FINANCE AND BUSINESS ECONOMICS

3 Faculty Participants Robert Bridges Associate Professor of Clinical Finance and Business Economics Robert Bridges specializes in real estate feasibility and urban economics. As a consultant, his clients include investment and development firms, and international and domestic investors. His editorials have been published in the Wall Street Journal, and has been cited by the Los Angeles Times and National Public Radio, among other outlets. Professor Bridges received USC's Steven Sample Award for Teaching and Marshall's Award for Community. He is a licensed architect who has received awards from the LA Business Council, the Ray Watt Foundation, the Concrete Reinforcing Steel Institute and the American Institute of Architects. James Cunningham Associate Professor of Clinical Finance and Business Economics Jim Cunningham is an economist who specializes in macroeconomics and public finance, and has conducted research on taxes, interest rates, and health economics, among other topics. He teaches in the undergraduate, full-time MBA, PM.MBA, and EMBA programs. In 2010, he received Marshall's Golden Apple award for MBA instruction, and the "Par for the Course" award from the San Diego EMBA program. In addition to his extensive teaching experience, Professor Cunningham has worked as a financial analyst and consulted extensively on antitrust issues. Lloyd Levitin Professor of Clinical Finance and Business Economics Lloyd Levitin is an expert in utility diversification, having been Executive Vice President and Chief Financial Officer for Pacific Enterprises (now Sempra Energy), a Fortune 500 diversified energy utility. He has consulted for domestic and international companies, and for the state of California. Professor Levitin was on the board of the Financial Executives Institute and President of the Los Angeles Chapter. He has testified before the California Regulatory Commission and the Senate Finance Committee. Professor Levitin's articles have appeared in Hastings Law Journal and the American Gas Association magazine.

4 Finance and Business Economics GOAL Students focusing in Finance and Business Economics will develop the skills necessary to work at a high level of expertise in various areas of finance, including commercial and investment banking, corporate finance management, asset and wealth management, management consulting, mergers and acquisitions, venture capital and real estate. The field of finance is changing rapidly, and students taking courses in finance will develop the basic tools and skills to be able to learn and adapt to these changes. The emphasis will be on how to think of creative, practical and efficient solutions to the new financial challenges facing our society. FACULTY The Finance and Business Economics faculty seek to examine the decision-making process and the role of markets in the allocation of both real and financial resources. Integrating the fields of finance and business economics, the faculty explore both theoretical and applied concepts in the related areas of corporate finance, investments, speculative and financial markets, real estate, insurance, banking, industrial organization and business-related public policy. Coursework emphasizes both primary theory and the application of theory in solving business problems.

5 The Elective Course Guide Your online resource to: - Required course descriptions - Elective course descriptions - required for Finance minor - Finance Careers & Areas of Interest Find more at

6 Selection of Electives and Concentrations Get advice from the experts, faculty and recent graduates Take at least two electives related to your desired internship or permanent position in chosen field You don t have to declare a concentration or area of interest Strengthen your toolkit by learning new skills in a variety of departments Areas of interest are impressive when viewed by future employers

7 Required Skills to Pursue Finance Accounting Valuation Computer (MS Office, Access) Analytical/Quantitative/Math Detailed Oriented Communication (Written & Verbal) Strong Work Ethic Secure Internship Credentialing (CPA, Chartered Financial Analyst) optional

8 14 Areas of Interest 1. Corporate Finance 2. Financial Consulting 3. Investment Banking 4. Commercial Banking 5. Hedge Funds 6. Investment Management 7. Private Equity & Venture Capital 8. Corporate Compliance & Risk Management 9. Economic and Financial Analysis Support for Litigation and Regulatory Proceedings 10. Real Estate Development 11. Real Estate Finance 12. Construction & Construction Management 13. Pre Professional Studies 14. General Financial Management ** Videos of select career fields can be found here:

9 CORPORATE FINANCE This area of interest focuses on the central principles of finance: net present value, market efficiency, agency costs, incremental cash flow, information asymmetries, adverse selection, arbitrage, modern portfolio theory, capital asset pricing, assessing and managing foreign exchange risk, and sustainable growth. As an integral part of a company s management team, a qualified individual will help the firm to secure funding sources to operate and grow a business, make acquisitions, prepare financial planning and manage risk. FBE 421: Financial Analysis and Valuation FBE 431: Financial Policies and Corporate Control FBE 441: Investments FBE 324: The Financial System FBE 416: Managerial Economics FBE 403: Introduction to the Legal Environment of Business Corporate Treasury Corporate Finance Analyst Business Analyst FBE 458: Law and Finance FBE 460: Mergers, Acquisitions and Restructuring ACCT 371: Introduction to Accounting System ACCT 410: Foundations of Accounting ACC 415: Intermediate Financial Accounting Corporate Strategist Turnaround Specialist

10 FINANCIAL CONSULTING Students interested in careers in financial consulting, provide advice to corporations and money managers. This advice may involve the strategies for creating shareholder value, business valuation, M&A advisory, and cost of capital determination. Firms involved in this growing area include Boston Consulting Group, Houlihan Lokey Howard & Zukin, Ibbotson Associates, LEK Consulting, Marakon, McKinsey & Co., and Stern Stewart & Co. Analyst FBE 421: Financial Analysis and Valuation FBE 429: International Business Law FBE 436: Financial Management of Multinational Corporations ACC 415: Intermediate Financial Accounting FBE 431: Financial Policies and Corporate Control FBE 432: Corporate Financial Strategy Research Consultant ACC 416: Financial Reporting & Analysis FBE 460: Mergers, Acquisitions and Restructuring FBE 437: Entrepreneurial Finance: Finance Management for Developing Firms FBE 458: Law and Finance Staff Consultant

11 INVESTMENT BANKING A focus on investments and financial markets provides training for students interested in careers in portfolio management, securities trading, and institutional and retail securities sales (brokerage). Investment bankers help companies and governments issue and purchase securities, manage financial assets, trade securities and provide financial advice to corporations and individuals. In addition, the banks design and market new financial products. The top investment banks include Goldman Sachs, JP Morgan and Morgan Stanley FBE 421: Financial Analysis and Valuation FBE 459: Financial Derivatives FBE 458: Law and Finance FBE 431: Financial Policies and Corporate Control Analyst ACC 415: Intermediate Financial Accounting FBE 432: Corporate Financial Strategy ACC 416: Financial Reporting & Analysis FBE 440: Trading and Exchanges FBE 460: Mergers, Acquisitions and Restructuring ACC 417: Advanced Financial Accounting

12 COMMERCIAL BANKING A large bank will serve middle market and large US corporate and institutional clients with debt and equity underwriting, mergers and acquisitions, loan syndications, debt and equity sales, trading, tax-exempt products, and hedging products related to equity, commodities, and interest rate risk. In addition, a large bank may be a registered investment advisor that focuses on managing equity, fixed income and blended portfolios for a variety of institutional clients and provides comprehensive planning and advice, investment management, brokerage, private banking, estate planning strategies, trust, insurance and retirement to high net worth individuals. FBE 421: Financial Analysis and Valuation FBE 458: Law and Finance ACC 415: Intermediate Financial Accounting ACC 416: Financial Reporting & Analysis ACC 417: Advanced Financial Accounting FBE 431: Financial Policies and Corporate Control FBE 432: Corporate Financial Strategy FBE 440: Trading and Exchanges FBE 460: Mergers, Acquisitions and Restructuring FBE 459: Financial Derivatives FBE 436: Financial Management of Multinational Corporations FBE 437: Entrepreneurial Finance: Finance Management for Developing Firms Credit Analyst Loan Officer Branch Manager Trust Officer Mortgage Banker Private Client Services Wealth Manager Business Planning

13 HEDGE FUND This career can be very diverse in terms of skills needed. The emphasis on logic and economic principles is common. The attention to detail and emphasis on differences across assets is crucial for many funds. Many hedge funds are relatively small and follow unique investing strategies including publicly and privately traded securities. Some funds require a great deal of quantitative skills and others require few quantitative skills. The exact skills needed depends on the type of hedge fund and the market opportunities. FBE 421: Financial Analysis and Valuation FBE 441: Investments FBE 459: Financial Derivatives FBE 416: Managerial Economics FBE 432: Corporate Financial Strategy FBE 440: Trading and Exchanges FBE 435: Applied Finance in Fixed Income Securities FBE 425: Management of Financial Institutions FBE 431: Financial Policies and Corporate Control FBE 403: Introduction to the Legal Environment and Business MATH 458: Numerical Methods (quant) MATH 503: Stochastic Calculus for Finance Analyst Portfolio Management Sales and Trading Due Diligence Compliance

14 INVESTMENT MANAGEMENT This category typically includes publicly traded stocks and bonds. This category is classified as the buy side of investments. Many professionals are involved in the investment process. FBE 421: Financial Analysis and Valuation FBE 441: Investments FBE 459: Financial Derivatives FBE 435: Applied Finance in Fixed Income Securities FBE 440: Trading and Exchanges FBE 489: Real Estate Capital Markets FBE 391: Real Estate Finance and Investment FBE 431: Financial Policies and Corporate Control ACC 416: Financial Reporting & Analysis ACC 473: Financial Statement Auditing FBE 425: Management of Financial Institutions FBE 416: Managerial Economics Analyst Portfolio Management Sales & Trading Due Diligence Compliance

15 PRIVATE EQUITY AND VENTURE CAPITAL These types of positions are responsible researching and investing in private companies and some public companies depending on the circumstances. The investment process may involve companies that are relatively young or new for Venture Capital and more seasoned firms for Private Equity investors. The skills and investment process typically differ substantially from Investment Management FBE 437: Entrepreneurial Finance: Finance Management for Developing Firms FBE 421: Financial Analysis and Valuation FBE 441: Investments FBE 459: Financial Derivatives FBE 431: Financial Policies and Corporate Control FBE 432: Corporate Financial Strategy ACC 416: Financial Reporting & Analysis ACC 462: Detecting Fraudulent Financial Reporting ACC 473: Financial Statement Auditing BAEP 423: Management of Small Business BAEP 451: Management of a New Enterprise BAEP 554: The New Venture Business Plan VC Analyst Private Equity Analyst Sales Due Diligence

16 CORPORATE COMPLIANCE AND RISK MANAGEMENT The position requires collaboration with other departments including internal audit, legal, risk management, human resources, operations and marketing. The position ensures the board of directors, management and employees are in compliance with the legal and regulatory environments in which the business operates domestically and internationally. The organization ensures that the company s standards of conduct are maintained. Monitors, and as necessary, coordinates compliance activities of other departments. The employee ensures reporting of violations or potential violations to enforcement agencies, maintains quality control, and safeguards prompt ethical conduct by the organization. FBE 403: Introduction to the Legal Environment of Business FBE 428: Principles of Employment Law FBE 458: Law and Finance FBE 429: International Business Law MOR 421: Social and Ethical Issues in Business MOR 469: Negotiations and Persuasion MOR 471: Managing and Developing People MOR 472: Power, Politics and Influence MOR 473: Designing and Leading Teams Corporate Compliance Officer Risk Manager Environmental Compliance Officer Human Resources Corporate Legal Counsel

17 ECONOMIC/FINANCIAL SUPPORT FOR LITIGATION AND REGULATORY PROCEEDINGS This path prepares students to work domestically and internationally within business consulting firms who provide support for law firms, lobbyists, governmental relations consultancies, and businesses. These professionals conduct economic, financial, accounting and marketing research to support the positions taken by clientele before governmental bodies, courts, and administrative panels. These research firms also assist in corporate strategic planning. FBE 421: Financial Analysis and Valuation FBE 432: Corporate Financial Strategy FBE 441: Investments FBE 458: Law and Finance FBE 460: Mergers, Acquisitions and Restructuring ECON 350: Macroeconomic Analysis for Business Decisions ECON 351: Economic Analysis for Business Decisions FBE 402: Government and Business FBE 403: Introduction to the Legal Environment of Business ECON 317: Introduction to Statistics for Economics ECON 357: Money, Credit and Banking ECON 401: Mathematical Methods in Economics ECON 414: Introduction to Econometrics FBE 436: Financial Management of Multinational Corporations Financial Analyst Business Analyst Economic and Competitive Analyst

18 REAL ESTATE DEVELOPMENT This focus is designed for students interested in working at the nexus of real estate, architecture, and urban planning. Real Estate Development focuses on topics relevant to the actual acquisition, construction and development of real estate projects, such as zoning, finance, deal structure, banking, leasing marketing and brokerage FBE 391: Real Estate Finance and Investments FBE 466: Real Estate Feasibility Studies FBE 427: Real Estate Law FBE 470: Advanced Real Estate Analysis FBE 489: Real Estate Capital Markets ARCH 106X: Workshop in Architecture ARCH 304X: Intensive Survey: Prehistory to Present GEOG 281L: Environmental Geographic Information Systems GEOG 105L: Introduction to Geology PPD 417: History of Planning and Development PPD 435: Analyzing Real Estate Markets for Planning and Development PPD 470: History and Development of Cities CE 460: Construction Engineering Asst. Project Manager Financial Analyst Property Accountant Research Associate/Analyst Zoning Permit Coordinator

19 REAL ESTATE FINANCE The study of real estate involves the application of business decision-making tools in the real estate industry. Emphasis is placed on economic and financial analysis of issues in real estate markets, including those related to investment and development, the interplay between, and origins of, debt and equity in the capital markets, as well as the importance of market dynamics and urban economics. Key parts of the curriculum include securing real estate debt and equity as well as entity level decision making. FBE 439: Real Estate Finance and Investments FBE 470: Advanced Real Estate Analysis FBE 427: Real Estate Law FBE 489: Real Estate Capital Markets FBE 466: Real Estate Feasibility Studies FBE 324: The Financial System FBE 421: Financial Analysis and Valuation FBE 425: Management of Financial Institutions FBE 441: Investments FBE 459: Financial Derivatives PPD 435: Analyzing Real Estate Markets for Planning and Development PPD 470: History and Development of Cities Portfolio Manager Underwriter Investor Services Associate Mortgage Broker Loan Officer Loan Analyst Asset Manager

20 CONSTRUCTION & CONSTRUCTION MANAGEMENT This area of interest focuses on the process from site acquisition through market analysis, site planning, building massing, concept preparation, cost estimation, entitlement, financing, and project and construction management. Understanding this process prepares students for entry level positions with lenders, home Revised on: 3/4/13 builders, commercial developers, consultants, and asset managers. This category includes employment and careers in the field of domestic and international construction and construction management, and is interdisciplinary between the Marshall School and the Civil Engineering Program in the Viterbi School of Engineering. Mortgage and Equity Analyst FBE 391: Real Estate Finance and Investments FBE 466: Real Estate Feasibility Studies FBE 470: Advanced Real Estate Analysis FBE 427: Real Estate Law CE 460: Construction Engineering CE 412: Construction Law and Property Development Process CE 461: General Construction Estimating CE 462: Construction Methods and Equipment CE 472: Construction Labor Movement Appraiser Broker Property Manager Asset Manager Property Developer

21 PRE PROFESSIONAL STUDIES This track accommodates the interests of those students who will pursue law school study following their undergraduate degree. Their ultimate objective is to provide analysis and counsel on legal, policy and environmental issues. In house legal counsel anticipates and guard against legal risks facing the company. They develop and recommend company policy and position on legal issues. They work with other departments with respect to proposed new products, protecting intellectual property, mergers and acquisitions, employment issues, financial offerings, financial structuring, securities offerings, tax compliance and business strategic planning. FBE 402: Government and Business FBE 403: Introduction to the Legal Environment and Business FBE 423: Introduction to Venture Capital FBE 428m: Principles of Employment Law FBE 458: Law and Finance FBE 429: International Business Law MOR 421: Social and Ethical Issues in Business BUCO 425: Ethics and Professional Communication BUCO 445: Oral Communication in Business COMM 302: Persuasion COMM 375: Business and Professional Communication MOR 421: Social and Ethical Issues in Business FBE 469: Negotiation and Persuasion

22 GENERAL FINANCE MANAGEMENT General financial management courses are designed for students who have not made a specific career choice but who are interested in finance. Students who complete coursework in general financial management will understand real world institutional details and finance principles used by corporations operating in modern financial markets. This broad preparation is ideal for students interested in sampling a variety of applications of financial analysis. The following finance electives can help you find out what you are passionate about. The field of finance changes rapidly and it may be advisable for the student to gain a broad understanding of finance. FBE 432: Corporate Financial Strategy FBE 441: Investments FBE 437: Entrepreneurial Finance: Finance Management for Developing Firms FBE 440: Trading and Exchanges FBE 489: Real Estate Capital Markets FBE 421: Financial Analysis and Valuation FBE 431: Financial Policies and Corporate Control FBE 433: Compensation, Incentives, and Governance FBE 436: Financial Management of Multinational Corporations FBE 458: Law and Finance See other areas of interest once you ve specified a career choice FBE 464: International Finance

23 IN SUMMARY The FBE Department has prepared a 36-page Elective Course Guide for Marshall undergraduate students which can be accessed through a link at the Marshall Graduate Elective Course Guide Website. This Guide gives more guidance and detail for both essential and of interest courses based on the areas of interest. FBE offers 28 different courses and you also have access to classes in other departments that will compliment your studies and career objectives. We are confident you will find what you need to develop the skills required for these described areas of interest.

24 Q&A

25 Thank You for Joining Us!! Questions? Contact the Faculty for the course of interest or the FBE Office for Answers