Finance

Introduction to the double-entry system of debits and credits, journal entries and general ledger accounts, steps leading up to financial statement preparation and format of financial statements. Also included are studies of merchandising companies and determination of inventory balances and cost of goods sold, and an introduction to the accounting treatment of various assets and liabilities. US accounting standards (GAAP) are contrasted with international standards (IFRS).

Focuses on partnership and corporate accounting, as well as statements of cash flow and financial statement analysis. Complex partnership and corporate issues are introduced. US accounting standards (GAAP) are contrasted with international accounting standards (IFRS). Prerequisite: EBAN 101.

An introductory course covering issues relating to the economy as a whole. Topics covered include, but are not limited to, the study of national income and the Gross Domestic Product (GDP), national income determination, investment, consumption and consumption theories; classical economic theories, Keynesianism, monetarism, rational expectations, supply-side economics; the business cycle, inflation, unemployment; money and the money supply, the banking system, the federal reserve system, monetary and fiscal policy, budget deficits and the national debt.

An introductory course covering issues relating to individual economic units: namely, the individual consumer, the individual firm, the individual factors of production—land, labor, and capital. Topics covered include, but are not limited to, price theory, price determination through equilibrium, supply and demand, analysis of consumer demand, utility theory and marginal utility, consumer equilibrium, indifference curve analysis, analysis of supply, theory of production, pricing in perfectly and imperfectly competitive markets, types of imperfect competition, anti-trust laws in the U.S., and distribution of income.

An introductory study of the basic principles, instruments, and institutions in the financial marketplace. Topics include the concept of money; the Federal Reserve and the banking system; the provision and management of funds for both the short and long terms; the basic financial instruments; financial characteristics of the firm, including basic balance sheet analysis; the role of the stock and bond markets; interest rates and present value analysis; personal finance issues. Corequisite: EBEN 101 or EBEN 102.

An introduction to the basic theory and practice of management. Examination of the managerial functions of planning, organizing, staffing, directing and controlling, and analysis of environmental influences on decision-making. Students will use micro-computer programs for business applications.

Fundamental principles of law of contracts, contracts of guaranty and surety-ship, and the law of sales and secured transactions under the Uniform Commercial Code; the relationship of principal and agent and that of employer and employee; personal property, and bankruptcy. Prerequisite: EBMN 101.

Functions, solution of equations; and systems of equations; the trigonometric functions and their graphs; addition theorems and identities; logarithmic and exponential functions; and elementary analytic geometry. Introduction to derivatives and calculus. Prerequisite: MATN 111 or placement by departmental examination.

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This course introduces students to current computing trends and technology. Office applications are taught. Students will build their own websites using a popular content management system (CMS) such as WordPress. Students will complete this course with a solid understanding of computing trends, how to use computers, and how to effectively access information on the World Wide Web. This course is not a required course or approved elective for a Computer Science or MIS degree. Prerequisite: None.

MCON 148 Advanced Computer Business Applications (Fall, Spring) (3 Credits)
This course discusses advanced features of Excel, PowerPoint, and Access. An accounting application such as QuickBooks is introduced, as well. The goal is to fully expose business students to PC applications that they can integrate into their studies and use on the job. This course is not a required course or approved elective for a Computer Science or MIS degree. Prerequisites: MCON 140 and EBAN 102.

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MATN 240 Finite Mathematics (Annual) (3 Credits) 
Review of set algebra, functions and relations; Boolean algebra and applications; counting techniques and elementary combinations; basic concepts of probability, theory of logic, vectors and matrices, linear systems of equations, Gauss Jordan, Cramer’s rule and matrix inverse methods; linear programming. Introduction to permutation groups and group theory. Prerequisite: MATN 120 or examination.

Characteristics and investment strategies related to stocks, bonds, and options. Sources of return and risk are explored. The foundations of financial research are developed with regard to information sources, valuation techniques, computation of return and risk and their relationship. SEC regulations; methods of performance evaluation. Prerequisite: EBFN 101.

Methods of capital budgeting and corporate financial decision-making; valuation techniques, market efficiency, capital structure, dividend policy, Betas, cost of capital, portfolio analysis and the Miller Modigliani principle are incorporated into the analysis; financial analysis under conditions of certainty and uncertainty. Prerequisite: EBFN 101.

A continuation of Investment Principles (EBFN 210). Both fundamental and advanced approaches to valuation of securities and portfolios are developed. The risk/return trade-off and the selection of optimum portfolios are examined in depth, including reductionof-risk techniques. Prerequisite: EBFN 210.

Comprehensive discussion of the international financial environment. The market forces whose interplay determines exchange rates and governmental policies are covered. Parity theorems and description of the international equity and credit markets and their dynamics are presented. The forecasting of price changes and returns on equities and bonds in the international setting are covered. Prerequisite: EBFN 101.

A study of basic marketing theory and practice. Major topics include analysis of consumer market structure versus industrial market system; product planning; channels of distribution; pricing; promotion; and relevant government regulation.

The theoretical foundations, institutional details, and practical applications of options trading: various pricing models and their development; in-depth examination of the use of options as speculative, hedging, investment, and arbitrage tools; the role of options with respect to the proper functioning of the modern market economy. The central focus is on stock options. Prerequisite: EBFN 210.

An integrated capstone course focusing on application of case studies to the nature, functions and activities of actual businesses, analyzing objectives, policies, and performance in relation to the outside environment. Emphasis is placed on ethical aspects of decision making. Case studies are used to develop analytical skills. Knowledge and techniques developed in earlier courses are applied in this course. Prerequisite: Senior standing.

Focuses on the objectives of important classes of external decision-makers, such as security analysts, credit grantors, etc. Covers the tools of analysis that are employed in the achievement of major analytical objectives, such as short-term liquidity, capital structure, and operating performance. Prerequisite: EBAN 102.

Money and its equivalents, interest rates, the role of the Federal Reserve and the banking system. In particular, the workings of the money market and its instruments, including treasury bills and commercial paper, financial institutions, and monetary policy and its effects on the national and global economies. Prerequisites: EBEN 101 and 102.

This course provides an examination of Modern Portfolio Theory. It develops fundamental portfolio analysis, portfolio risk and return measures, and the process of optimal portfolio construction. The emphasis will be on building and managing Equity and Fixed Income portfolios. Features of optimal portfolio construction will include domestic as well as international diversification, risk management, hedging, and performance evaluation measured against standard benchmarks. Prerequisite: EBFN 210 Investment Principles.

Examines the fundamentals of real estate finance, including various types of mortgages and financing structures, loan underwriting, the construction loan, and the secondary mortgage. Debt securitization and financing residential and income-producing property are explored. Prerequisite: EBFN 101.

Provides an analytical framework for understanding the real estate finance and development process from both a quantitative and non-quantitative perspective. Topics addressed include establishing investment/development objectives, identifying prospective sites, understanding the public permitting process, preparing market and feasibility studies, securing debt and equity financing, coordinating the design and construction process, and marketing and managing real estate assets. Includes preparation of income statements, sources and uses of funds statements, federal tax impact analysis, and discounted cash flow analysis. Prerequisite: EBFN 341.

An in-depth study of modern trade theory and monetary relations. Topics include but are not limited to globalization, absolute and comparative advantage, theory of reciprocal demand, offer curves, factor endowment theory and other theories of trade, Leontief paradox, tariffs and their effects, balance of payments issues, foreign exchange rate determinants, spot and futures markets, arbitrage, purchasing power parity, balance of payments adjustments, exchange rate adjustments, and its effect on the balance of payments. Prerequisites: EBEN 101, EBEN 102 and EBFN 101.

This course looks in detail at derivatives used to conduct commodity trade across international markets. Such derivatives include options, futures, forwards, swaps, and spots. This course also focuses on risk management, and uses mathematical models to set conditions for minimum risk and to predict relevant variables important to such trade. Prerequisite: EBFN 210.

This course will build on previous introduction to fixed income securities (bonds). In the course, we will present and develop the conceptual framework used for; pricing fixed-income securities; fixed-income securities portfolio; hedging; markets and instrument. Bonds basic valuation are reviewed and extended into a detailed examination of the pricing process and yield measurement. The term structure of interest rate is introduced and used in pricing. Volatility and its characteristic, duration and convexity are examined, their implication to the fixed-income security portfolio are analyzed. Market and instruments are covered too. Among them, treasury, agency, municipal and corporate bond markets. Also discussed are the recently popular CDO markets, such as mortgage-backed securities and other. Lastly, hedging tool and their usage is covered, including, future contracts, options and swaps.

Analysis of the macroeconomy – GDP, national income, inflation, unemployment, growth. Topics include measurement of product and income, savings, price indices and inflation, interest rates, production functions, supply and demand of labor, full employment output, unemployment, Okun’s law, consumption and savings decision, Ricardian equivalence, desired capital stock, investment, open economy vs. closed economy, growth, supply and demand for money, the business cycle, IS-LM/ Ad-AS analysis, the classical position, Keynesianism, macroeconomic policy, inflation-unemployment trade off, Federal Reserve, monetary policy, fiscal policy, spending and deficits. Prerequisites: EBEN 101 and 102.

Optimal decision-making on the level of individual economic units; consumer and producer. Topics include rational consumer choice, in-depth indifference curve analysis, price consumption curve, Engel curve, Giffen good, price and income elasticity of demand, consumer surplus, inter-temporal choice model, information and consumer decision making, altruism, cognitive limitations and consumer behavior. Producer decisionmaking, costs, perfect competition, imperfect competition, game theory and oligopoly. Prerequisites: EBEN 101 and EBEN 102.

Seniors majoring in Economics and Finance can register for academic credit for field experience with business or government agencies in the greater New York area. Students will work under the supervision of a faculty member. Prerequisites: Senior Status, GPA of 2.5 in major and departmental permission.

A study of the environment of business decisionmaking. Issues are examined in the context of interrelated legal, social, ethical, and political trends affecting business, as well as from the Jewish perspective on business ethics. Deals with governmental regulation in the areas of occupational health and safety, environmental and consumer protection, and anti-trust activity. Prerequisite: EBMN 101 and either EBEN 101 or EBEN 102. 

Credit will not be given for both EBMN 317 and PHI 225.

An examination of ethical issues that arise in the context of business. The relevance of ethical theory to such issues as consumer rights, truth in advertising, obligations to shareholders and negotiating strategies is discussed.

Credit will not be given for both EBMN 317 and PHI 225.