finance - School of Continuing and Professional Studies - New York ...

FINANCE 

SUMMER 2011 

The following information is taken from the 

summer 2011 NYU-SCPS bulletin. Please 

note that changes are made to course 

schedules and locations, and new offerings 

are added on a continuing basis. 

Visit our website for the most up-to-date 

program information: scps.nyu.edu

HOW TO REGISTER 

Register now for the best course selection and availability. You may register during the semester 

according to the schedules and procedures in the Registration section of this Bulletin. Courses begin 

throughout the term. 

SUMMER TERM 

CALENDAR 

WEB: scps.nyu.edu 

24 HOURS A DAY 

PAYMENT: Visa, MasterCard, Discover, 

American Express 

TELEPHONE: (212) 998-7150 

Now through May 6: 

Monday–Thursday, 9 a.m.–6 p.m.; Friday 9 a.m.–5 p.m.* 

Extended hours, May 9–27: 

Monday –Thursday, 9 a.m.–7 p.m.; 

Friday, 9 a.m.–5 p.m. 



FAX: (212) 995-3060 

24 HOURS A DAY 



MAIL 

Mail registrations are accepted throughout the 

semester and must be postmarked at least two 

weeks before the course start date. Use the postagepaid 

registration form at the back of this Bulletin. 



IN PERSON 

145 Fourth Avenue, 2nd Floor 

Now through May 6: 

Monday–Thursday, 9 a.m.–6 p.m.; 

Friday, 9 a.m.–5 p.m.* 

Extended hours, May 9–27: 

Monday –Thursday, 9. a.m.–7 p.m.; 

Friday, 9. a.m.–5 p.m. 


American Express, check, or money 

order 

Summer Classes Begin 

Monday, May 23 

Memorial Day 

Monday, May 30 

All classes cancelled. 

Independence Day 

Monday, July 4 

All classes cancelled. 

NEED TO CHECK CLASS 

LOCATIONS OR TIMES 

You can view course details, including class 

locations, room numbers, dates, and times 

through ALBERT, the NYU student information 

services website, or by calling the number 

below. Instructions for accessing ALBERT 

are sent to students upon registration. 

Call: (212) 998-7200 

FOR MORE INFORMATION 

HAVE A QUESTION WE CAN HELP. 

For more information on continuing education courses or certificates, we are available 

to answer your questions in person, by phone, or by e-mail. 

TELEPHONE: (212) 998-7200 

Monday–Thursday, 9 a.m.–7 p.m.; 

Friday until 5 p.m.* 

E-MAIL: scpsinfo@nyu.edu 

*Telephone and in-person registration may be suspended or altered due to holiday observance. 

INFORMATION SESSIONS 

Our information sessions and career nights offer 

an opportunity to meet program staff, discuss 

your interests, and address any questions. 

NEED TO DROP A COURSE 

You may drop a course by mail or in person 

(145 Fourth Avenue, 2nd Floor, New York, NY 

10003); online anytime at scps.nyu.edu/drop; 

and up until one day before the course start 

date via ALBERT, the NYU student information 

services website; or by fax (212-995-3060). 

If you wish to withdraw from a course after 

the first class has met, please consult our 

refund policy in the Registration section of 

this Bulletin. 

Cover Art: James Grashow 

Cover Art Photography: Robert Grant 

Cover Design: FP Design NY, Inc. 

ON THE COVER: JAMES GRASHOW 

James Grashow was born in Brooklyn, New York in 1942 and has been 

creating works of art that address themes of man, nature, and mortality 

since the 1960s. The scale of his work ranges from large environmental 

installations to the delicate and contained world of his house plants, where 

homes and buildings replace flowers and buds in intricately constructed 

bouquets. Grashow is also a well-known woodcut artist. His prints have 

appeared regularly in the New York Times and many other well-known 

publications. Grashow attended Pratt Institute, where he received a B.F.A. 

and, after a year in Florence on a Fulbright Travel Grant for painting and 

graphics, an M.F.A. Grashow lives and works in Connecticut with his wife. 

New York University Bulletin (USPS 383-620), 

Vol. CXI, No. 2, March 8, 2011 

Published four times per year (January, March, July, November) 

by New York University, 244 Greene Street, 2nd Floor, 

New York, NY 10003-6651. 

Periodicals postage paid at NY, NY and at additional entry offices. 

POSTMASTER: Send address changes to New York University Bulletin, 

244 Greene Street, 2nd Floor, NY, NY 10003-6651. 

WEB SCPS.NYU.EDU | E-MAIL SCPSINFO@NYU.EDU

SCPS.NYU.EDU/FINANCE 

FINANCE 

Our programs provide finance professionals with the skills to remain 

highly valued to employers, those in careers outside finance the 

know-how they need to advance, and individuals the knowledge essential 

to manage the financial aspects of their lives. We cover the 

gamut of topics in finance from the essentials of each discipline to 

current issues and advanced concepts. Whether you work in a 

Fortune 500 company or a small business, our courses and professional 

certificates provide the knowledge to keep you current. NYU’s 

location in New York City—one of the world’s leading financial centers—gives 

you a direct line to the latest developments, practices, 

and trends in finance as well as a faculty of leading practitioners. 

Our offerings in Finance include: 

• Noncredit courses ranging from fundamental concepts in a wide 

range of disciplines to advanced and highly specialized areas of study. 

• Summer Intensives: Finance and Accounting Intensive for Graduate 

Students (this page), Finance Intensive for Graduate Students (this 

page), and Credit Training (page 3). 

• Professional certificate programs: Behavioral Economics and Finance 

Theory (page 2), Business Finance Fundamentals (page 2), Credit 

Analysis (page 3), Financial Analysis and Advanced Financial Analysis 

(page 5), Financial Planning (page 6), Financial Risk Management and 

Advanced Financial Risk Management (page 9), International Business 

and Finance and Advanced International Business and Finance (page 10), 

Investment Banking and Advanced Investment Banking (page 12), and 

Portfolio Management and Advanced Portfolio Management (page 13). 

• Graduate Certificate in Enterprise Risk Management offered through 

the M.S. in Management and Systems program. 

For more information, visit scps.nyu.edu/finance, or call (212) 998- 

7200. 

INFORMATION SESSION 

Finance 

Tuesday, 6–8 p.m., May 10 

Kimmel Center for University Life 

60 Washington Square South 

Information Sessions include discussions on industry 

news and career opportunities, presentations on 

curriculum, and a chance to ask questions of faculty 

and staff. No RSVP is required, but please be punctual. 

For more information, call (212) 998-7200. 

SUMMER INTENSIVES 

Finance and Accounting Intensive 

for Graduate Students 

FINA2-CS1204/$995 

M Sec. 201: Mon.–Fri., 10 a.m.–6 p.m., July 25–29 (5 sessions). 

John F. Mahoney, CPA, former vice president of finance and controller; and 

Alan Anderson, FRM, assistant professor of finance, Western Connecticut State University. 

Current and prospective M.B.A./M.P.A./master’s degree students who must take a 

finance or accounting course during their studies benefit from this intensive covering 

the essentials of finance and accounting. Students develop a strong base in these subject 

areas before they begin the finance or accounting coursework required in their graduate 

programs. Topics include the compilation of financial statements, as well as the essentials 

of balance sheets, income statements, and cash flow analysis. Concepts such as 

quality of earnings, ratio analysis, capital structure and methods of financing, financial 

management, discounted cash flow analysis, long- and short-term debt policy, and leasing 

are among the areas covered in depth. 

Finance Intensive for Graduate Students 

FINA2-CS1207/$995 

M Sec. 201: Mon.–Fri., 10 a.m.–6 p.m., Aug. 8–12 (5 sessions). 

Alan Anderson, FRM, assistant professor of finance, Western Connecticut State University. 

Go to graduate school a step ahead of the game. This course covers the essentials of 

finance and accounting to give students a solid background in related coursework for 

their graduate programs. The week-long course covers risk and rates of return; time 

value of money, markets, and interest rates; stock and bond valuation; the cost of capital 

and capital budgeting; leasing and investment analysis; cash flow estimation and risk 

analysis; capital structure, distributions to shareholders, and working capital management; 

multinational financial management; and mergers and acquisitions. 

For details on all our Summer Intensive programs, visit scps.nyu.edu/summer 

or call (212) 998-7200. 

CONTENTS 

Finance Preparation Courses 1 

Behavioral Economics and Finance Theory 2 

Business Finance Fundamentals 2 

Credit Analysis 2 

Economics3 

Financial Analysis 4 

Financial Planning 5 

Personal Finance 6 

Financial Risk Management and Derivative Instruments 7 

International Business and Finance 9 

Investment Banking 11 

Portfolio Management 12 

FINANCE 

PREPARATION 

COURSES 

Finance for Nonfinance Professionals 

FINA1-CE9642/$750 

N Sec. 1: Thurs. 6.30–9 p.m., May 26–July 14 

(8 sessions). John Stoltzfus 

Designed for managers and professionals 

who have no background in finance, this 

course provides an introduction to the financial 

field. Students gain familiarity with 

financial definitions, securities used by corporations, 

common and preferred stock, 

convertible features, bonds, long-term debt, 

and the tools used for analysis. Students 

learn how to analyze methods of financing 

using corporate or outside funds. 

Finance Math/Statistics: A Skill 

Enhancement and Review Course 

FINA1-CE9151/$395 

N Sec. 1: Mon. 6.30–9 p.m., June 6–July 11 

(5 sessions). 

Gain a better understanding of the mathematics 

crucial to success in NYU-SCPS 

quantitative courses. Brush up on skills and 

key mathematical ideas required for the finance 

curriculum. Content emphasizes 

basic tools of calculation and their application 

through specific examples. Students 

are introduced to concepts commonly used 

in finance such as present value, expected 

value, and compound interest rates, along 

with key statistical concepts. No prior exposure 

to statistics required. Course content contains 

no review or discussion of calculus. 

Estimated time to complete the primary instructional 

path is 15 to 20 hours. 

1 

WEB: SCPS.NYU.EDU 

E-MAIL: SCPSINFO@NYU.EDU


HP 10bII Calculator Workshop: 

A Comprehensive Approach 

FINA1-CE9032/$300 

W Sec. 201: Sat. Sun. 9 a.m.–5 p.m., 

June 25–26 (2 sessions). Joseph Matthews, 

vice president–wealth management, 

Merrill Lynch. 

Gain a comprehensive understanding of 

the HP 10bII calculator. Understand operating 

modes as well as the varied calculations 

required of financial planners when 

structuring and reviewing client strategies. 

Topics include time value of money basics, 

solving for lease and loan payments, mortgage 

applications, NPV and IRR discounted 

cash flow, standard deviation, investment 

calculations, basic statistical applications, 

valuation of debt and equity securities, risk 

adjusted portfolio performance measurement 

and duration, standard deviation of 

a portfolio, and CAPM. 

BEHAVIORAL 

ECONOMICS 

AND FINANCE 

THEORY 

The financial crisis and gradual recovery 

have increased the focus on behavioral 

economics in finance and on the stock market. 

Behavioral economics applies principles 

of psychology to economic theory, examining 

the factors that impact actor behavior in 

the marketplace—how and why decisions 

are made—to help interpret and predict 

economic trends. Investors, industry professionals, 

and lay people alike benefit from a 

nuanced understanding of the complicated 

patterns that govern economic choices. 

Behavioral Economics 

and Finance Theory 

FINA1-CE9154/$795 

N Sec. 1: Mon. 6.30–9 p.m., June 6–Aug. 1 

(8 sessions). Joseph Matthews, vice president– 

wealth management, Merrill Lynch. 

Delve into the thriving new field of behavioral 

economics and finance theory and 

explore models that bring together human 

psychology and neoclassical economics. 

Topics include heuristics (the theory that 

people often make decisions based on generally 

accepted rules rather than rational 

analyses), framing (the different ways an 

individual reacts depending upon how 

ideas are first presented), anomalies (how 

efficient market theory’s unexpected and 

unlikely events continue to occur—and 

why they do), and the role and implementation 

technical analysis for a security’s 

buy-and-sell decision process. 

CERTIFICATE IN 

BEHAVIORAL 

ECONOMICS AND 

FINANCE THEORY 

This certificate program is designed for 

practitioners who manage financial assets 

and need to gain significant insights 

into the financial crisis through a firm 

understanding of investors’ behavior and 

the impact that behavior has on the financial 

markets. Understanding the psychology 

behind the complicated patterns 

within the financial markets creates opportunity 

and reduces the inherent risk 

and speculation for sophisticated investors. 

Upon completion of this program, 

students have a firm understanding of: 

• The foundational theory of 

behavioral finance. 

• Institutional limitations and how 

human biases affect pricing. 

• The performance of trading strategies. 

• The analytical tools to evaluate 

strategic and investment decisions. 

• Theory and strategy of effective 

decision making. 

• Financial market behavior. 

• Future market and investor needs. 

This certificate is awarded to students 

who successfully complete five required 

courses. 

REQUIRED COURSES 

It is recommended that the five required 

courses be taken in the order listed. 

Behavioral Economics and Finance 

Theory/FINA1-CE9154 (this page) 

Behavioral Corporate Finance/ 

FINA1-CE9153 (2011–2012) 

Ethics in Finance/ 

FINA1-CE9152 (2011–2012) 

Applied Technical Analysis/ 

FINA1-CE9125 (page 8) 

Advanced Concepts in Technical 

Analysis/FINA1-CE9041 (2011–2012) 

See page 14 for certificate requirements and benefits. 

CONTINUING PROFESSIONAL 

EDUCATION FOR 

ACCOUNTANTS (CPE) 

NYU-SCPS holds a continuing education 

sponsor agreement with the New 

York State Department of Edu cation, 

which authorizes the granting of continuing 

education credit in the following 

subject areas: accounting, auditing, 

taxation, advisory services, and knowledge 

and applications related to specialized 

industries. Courses offered outside 

the authorized subject areas are not 

recognized for credit under this agreement. 

For the acceptability of an individual 

course listed here, call (212) 

998-7200 or the New York State 

Department of Education at (518) 

474-3836. 

BUSINESS FINANCE 

FUNDAMENTALS 


BUSINESS FINANCE 

FUNDAMENTALS 

This certificate program teaches students 

how organizations—from small 

businesses to multinational corporations—acquire, 

spend, and manage their 

finances. The program is designed for 

professionals and nonbusiness majors 

who seek to strengthen their knowledge 

of economics, accounting, math, statistics, 

principles of finance, and corporate 

finance. 

Upon completion of this certificate 

program, students: 

• Fortify their ability to make informed 

economic, personal finance, and business 

decisions. 

• Develop applied skills relating to the 

time value of money, risk analysis, and 

money supply. 

• Gain proficiency in using a financial 

calculator. 

• Understand the relationships between 

commercial banks, thrift institutions, 

savings banks, credit unions, pension 

funds, mutual funds, investment banking 

firms, finance companies, and 

mortgage banking firms. 

This certificate is awarded to students 

who complete five courses—three 

required and two electives. 

Students pursuing this certificate with 

no finance experience are advised to take 

Finance for Nonfinance Professionals/ 

FINA1-CE9642 either simultaneously or 

in advance of taking the first course in 

this program. 


It is recommended that the three required 


Macroeconomic Principles in Finance/ 


HP 10bII Calculator Workshop: 

A Comprehensive Approach/ 

FINA1-CE9032 (this page) 

Fundamentals of Corporate Finance/ 


ELECTIVES (Choose two) 

Fundamentals of Financial Risk 

Management/FINA1-CE9208 

(page 7) 

Introduction to International Business 

and Finance/FINA1-CE9400 (page 9) 

Introduction to the Markets/ 


Investment Banking Fundamentals/ 


Techniques of Financing Corporations/ 



CREDIT ANALYSIS 

Credit management takes many forms, but 

all businesses, not only banks and financial 

institutions, have significant credit management 

issues. Anytime a product is purchased 

without cash, a business needs 

money to expand, or credit is extended to a 

new or existing customer, credit management 

is an essential part of the process. 

The Certificate in Credit Analysis and the 

five-day Intensive Credit Training Program 

(page 24) are for students seeking to improve 

their credit skills in a manner similar 

to bank credit training programs. 

Writing a Credit Analysis 

FINA1-CE9290/$995 

W Sec. 1: Thurs. 6.30–9.40 p.m., June 2– 

July 21 (8 sessions). 

Learn to evaluate and explain how to repay 

an asset-based loan, revolving credit, a 

term loan, or a commercial mortgage loan. 

Focus initially on the cash conversion cycle 

in the analysis of asset-based loans, trade 

finance, factoring, accounts receivable securitization, 

and captive finance companies. 

Then explore free cash flow in the analysis 

of revolving credits, term loans, and project 

finance. Finally, the course addresses net 

operating income in the analysis of commercial 

mortgage loans to finance owneroccupied 

and investment properties. 

Prerequisite: Financial Accounting: Part I/ 

ACCT1-CE8101 or equivalent knowledge. 

Conducting a Credit Analysis II 

FINA1-CE9291/$995 

W Sec. 1: Thurs. 6.30–8.30 p.m., May 26– 

July 28 (10 sessions). Alkesh Nanavaty, CFA, 

credit risk management, Deutsche Bank AG. 

Learn to look beyond financial statements 

to evaluate and explain the risk in a borrower’s 

accounting principles, financial 

projections, and business practices. Analyze 

aggressive and/or deceptive accounting 

principles, such as purchase accounting, 

unfunded pension liabilities, securitized 

receivables, deferred taxes, and channel stuffing. 

Examine financial projections, including 

aggressive assumptions, break-even analysis, 

and debt service coverage. Explore industry 

risk, including aggressive and/or deceptive 

practices used by manufacturers, retailers, 

drug companies, life insurance companies, 

utilities, and REITs. Prerequisite: Writing a 

Credit Analysis/FINA1-CE9290.H 

M Meets at NYU Midtown Center, 11 W. 42nd St. 

N Meets at Norman Thomas Center, 111 E. 33rd St. 

W Meets at the Woolworth Building, 15 Barclay St. 

H Consult an advisor before registering. 

TO REGISTER: (212) 998-7150 FOR MORE INFORMATION: (212) 998-7200 

2


SUMMER INTENSIVE 

Credit Training 

FINA2-CS3330/$1,295 

M Sec. 201: Mon.–Fri. 9 a.m.–5 p.m., June 6–10 (5 sessions). 

Richard M. Fox, managing director, Cross Atlantic Capital Partners, Inc. 

V Sec. 202: Dates and hours to be arranged. Alkesh Nanavaty, CFA, credit rish management, 

Deutsche AG. 

This intensive, which mirrors major bank credit training programs, targets junior banking 

officers and those in the financial services industry seeking to improve their credit 

skills. It provides a disciplined framework for credit analysis and encourages clear, concise 

oral and written skills using a case study approach. Topics include analysis of 

short- and long-term credit products; business and industry risks and management; 

and comprehensive analysis of income statements, cash flow, and balance sheets. 

Financial covenants and other documentary issues are examined. Familiarity with 

financial accounting and statement analysis is recommended. 

For details on all our Summer Intensive programs, visit scps.nyu.edu/summer 

or call (212) 998-7200. 

CERTIFICATE IN CREDIT ANALYSIS 

This certificate program is designed to provide a working knowledge of the essentials 

of credit analysis for today’s marketplace. Students learn credit and credit analysis in 

application-based courses that convey how to conduct and write a credit analysis report; 

manage a loan or loan portfolio; structure term- and asset-based loans; manage 

workouts and business bankruptcies; and understand trade financing transactions, 

project financing, and reorganization. The program is designed by a faculty of leading 

credit practitioners whose teaching is responsive to the changing economic environment. 

The program is designed for professionals who wish to acquire expertise in a consolidated 

time frame and can be completed in nine months. 

Who Should Enroll: 

M.B.A.s; recent college graduates; professionals who work in finance; banking executives; 

bankers who currently work with, or on, credit topics; bankers who wish to transition 

into the credit area; bankers from foreign banks or branches who wish to learn 

how U. S. banks do business; business owners; accountants; lawyers; and professionals 

from any field who want to understand or advance their knowledge of credit analysis. 

Upon completion of the course students are able to: 

• Write a credit analysis report. 

• Manage a commercial loan or loan portfolio. 

• Manage workouts and business bankruptcies. 

• Negotiate loan agreements. 

• Structure asset-based loans and trade finance transactions. 

• Structure term loans, syndicated transactions, and project finance transactions. 

This certificate is awarded to students who complete five courses—two required and 

three electives. Required courses must be taken sequentially. Students who prefer to take 

more than one course per semester can take a required course along with an elective 

course. All prerequisites in this program are required. 

Students with minimal writing experience are advised to take Writing Skills for Accounting 

and Finance Professionals/ACCT1-CE8112. Students with minimal experience or formal 

training are advised to take Financial Accounting: Part I/ACCT1-CE8101 and Financial 

Statement Analysis/ACCT1-CE8105. 


Required courses must be taken in the 

order listed. 

Writing a Credit Analysis/ 


Conducting a Credit Analysis II/ 


ELECTIVES (Choose three) 

Bankruptcy, Workouts, 

and Reorganizations/ 


Hedge Fund Strategies/ 


Managing a Commercial Loan 

Portfolio/FINA1-CE9296 (this page) 

Negotiating Loan Agreements/ 


Structuring Asset-Based Loans 

and Trade Finance/FINA1-CE9282 

(this page) 

Structuring Term Loans, Syndicated 

Transactions, and Project Finance/ 



Managing a Commercial Loan Portfolio 

FINA1-CE9296/$795 

W Sec. 1: Wed. 6.30–9 p.m., May 25–July 13 

(8 sessions). 

Learn to underwrite and manage a portfolio 

of commercial mortgages and syndicated, 

middle-market, asset-based, and 

trade-finance loans. Explore the origination 

of a loan, including the loan proposal, 

credit analysis, and loan agreement. 

Discuss the control of risk in a portfolio, 

including credit policy, risk rating, reserves, 

loan review, internal audit, and workout. 

Examine compliance with regulatory standards 

governing safety and soundness 

(Basel II and FDICIA), community reinvestment 

(CRA), and money laundering 

(Patriot Act). Credit analysis formats, loan 

agreement forms, and bank examination 

manuals are distributed in class. 

Negotiating Loan Agreements 

FINA1-CE9281/$795 

M Sec. 1: Tues. 6.30–9 p.m., June 7–July 26 

(8 sessions). Bruce Levine, partner, Herrick, 

Feinstein, LLP. 

Take an in-depth look at how to negotiate, 

close, and enforce the varieties of loan agreements, 

including credit, security, pledge, 

guarantee, hypothecation, subordination, 

and participation. Topics include the “hellor-high-water” 

clause, interference with 

contractual relations, anticipatory breach, 

deceleration, the fair and equitable doctrine, 

and the cram-down. Case studies examine 

actual loan transactions. This course 

is designed for bankers, corporate treasury 

personnel, and lawyers who negotiate 

agreements involving syndicated loans, 

trust indentures, middle market loans, state 

economic development authorities, or the 

Small Business Administration. 

Structuring Asset-Based 

Loans and Trade Finance 

FINA1-CE9282/$795 

N Sec. 1: Mon. 6.30–8.30 p.m., June 6– 

Aug. 15 (10 sessions). William J. Ezzo, 

capital business credit. 

Learn how to finance working capital and 

trade through commercial and standby letters 

of credit, asset-based loans, purchase 

and securitization of receivables, purchase 

of whole loans, and support of captive finance 

companies. Students examine how 

to use the field examination report as a 

tool to evaluate and explain the dilution of 

receivables, exert dominion over the collateral, 

and establish and monitor the borrowing 

base. Prerequisite: Writing a Credit 

Analysis/FINA1-CE9290 or formal accounting 

and financial statement analysis experience. 

Structuring Term Loans, Syndicated 

Transactions, and Project Finance 

FINA1-CE9283/$795 

W Sec. 1: Thurs. 6.30–8.30 p.m., May 26– 

July 28 (10 sessions). Herbert Jacobs 

Examine how to underwrite and syndicate 

revolving credit and term loans to finance 

working capital, equipment, acquisitions, 

and projects. Learn how to structure transactions 

through direct loans, backup facilities, 

bridge facilities, covenant packages, 

collateral support, take-or-pay contracts, 

and lease assignments. Students then learn 

how to syndicate down transactions and 

mitigate risk through the use of assignments, 

participations, collateralized loan 

obligations, and credit default swaps. 

Prerequisite: Writing a Credit Analysis/ 

FINA1-CE9290 or formal accounting and 

financial statement analysis experience. 

ECONOMICS 

Macroeconomic Principles in Finance 

FINA1-CE9604/$795 

W Sec. 1: Tues. 6.30–8.30 p.m., May 24– 

July 26 (10 sessions). Carrie M. Kennedy, 

economist, Commodity Futures Trading 

Commission. 

W Sec. 2: Sun. 10 a.m.–2 p.m., June 12– 

July 17 (5 sessions). No class July 3. 

Acquire a foundation in current economic 

thought and build competency in economic 

principles. Topics include inflation, 

unemployment, and economic growth; fiscal 

and monetary policy; aggregate supply 

and demand; the Federal Reserve System; 

Keynesian economics; monetarism; measuring 

the macroeconomy; the GNP; and 

the interrelationship between key macro 

variables. 

Microeconomic Principles in Finance 

FINA1-CE9601/$795 

N Sec. 1: Wed. 6.30–9 p.m., June 8–July 27 

(8 sessions). 

Delve into the various components of the 

economic system in this introduction to 

microeconomics. Students examine individual 

markets, the determination of relative 

price values, supply and demand for all 

goods and services, and factors of production 

with an emphasis on the practical use 

of microeconomic principles. Prerequisite: 

Macroeconomic Principles in Finance/ 

FINA1-CE9604. 




V Online course. 

3 




FINANCIAL 

ANALYSIS 

The credit crisis, the economic downturn, and 

stock market fluctuations reinforce the need 

for financial analysis to help companies maximize 

assets and find value for consumers 

and investors. Our courses provide the indepth 

training to assess the viability, stability, 

profitability, and liquidity of private business, 

public companies, and projects. 

Fundamentals of Corporate Finance 

FINA1-CE9140/$835 

W Sec. 1: Mon. 6.30–9 p.m., May 23–July 25 

(8 sessions). Robert K. Nagle, CFA, associate 

director, Moody’s Analytics. 


(8 sessions). 

M Sec. 3: Sat. 10 a.m.–2 p.m., June 11– 


N Sec. 4: Wed. 6.30–9 p.m., June 15–Aug. 3 

(8 sessions). Leonard Blum, managing partner, 

Westwood Capital, LLC. 

Learn to analyze methods of financing 

using internal and external funds. This introduction 

to corporate finance emphasizes 

the use of long-term debt, preferred stock, 

common stock, and convertibles in the financial 

structure of a corporation. Topics 

include financial management, corporate 

growth, business failures, return on investment, 

risk leverage, the time value of 

money, dividend policy, debt policy, and 

leasing. 2.0 CEU (24 50-minute hours) 

Techniques of Financing Corporations 

FINA1-CE9670/$825 

N Sec. 1: Tues. 6.30–9 p.m., June 14–Aug. 2 

(8 sessions). John Wamboldt, senior vice president–middle 

market lending, Capital One Bank. 

Understand the fundamental principles of 

corporate finance, concentrating on cash 

flow and the financing of each asset line of 

the balance sheet. Various forms of financing 

are discussed, including conventional 

term loan arrangements, asset-based lending, 

revolving credit lines, factoring, letters 

of credit, and long-term debt options. 

Finally, focus on what effect the various financing 

options may have on the potential 

success of a business and the market price 

of a corporation’s stock during this period. 

The bank/corporation relationship is also 

discussed. 2.0 CEU (24 50-minute hours) 

Faculty 

Learn from instructors who 

are leaders in their fields. 

For NYU-SCPS faculty bios, 

visit scps.nyu.edu/faculty. 

NEW 

Intermediate Corporate Finance 

FINA1-CE9145/$825 

W Sec. 1: Sat. 11 a.m.–3 p.m., June 4– 

July 9 (5 sessions). Serge Wind, 

professor, DeVry University. 

Building on the concepts covered in 

Fundamentals of Corporate Finance, this 

course gives students a better understanding 

of the importance of value maximization 

in the finance world. Acquire the 

ability to assess decisions for their contribution 

to value maximization, setting the 

valuation of the firm as the overall goal. 

Topics include capital structure and the 

financing decision, the risks and costs of 

equity and debt, portfolio risk, hurdle rate 

determination, measuring returns in projects 

and the investment decision, valuation 

of the firm, hybrid financing, and mergers 

and acquisitions. Prerequisite: Fundamentals 

of Corporate Finance/FINA1-CE9140 or 

equivalent knowledge. 3.0 CEU 

(30 50-minute hours) 

Advanced Corporate Finance 

FINA1-CE9149/$825 

W Sec. 1: Sat. 11 a.m.–3 p.m., July 16– 

Aug. 13 (5 sessions). Serge Wind, professor, 

DeVry University. 

Gain an understanding of corporate finance 

and financial management functions in this 

continuation of Fundamentals of Corporate 

Finance and Intermediate Corporate Finance. 

Topics include cash flow analysis and risk 

analysis, financial statement analysis, financial 

planning and forecasting financial statements, 

working capital management, lease 

financing, financial and real options, bankruptcy 

and liquidation, mergers and acquisitions, 

risk management and derivatives, 

and multinational financial management. 

Prerequisite: Fundamentals of Corporate 

Finance/FINA1-CE9140 or equivalent 

knowledge. 

Valuing a Business 

FINA1-CE9677/$750 

N Sec. 1: Wed. 6.30–8.30 p.m., May 25– 

July 27 (10 sessions). Mark Lee, CFA, principal, 

Eisner, LLP; and Edward Impastato. 

Examine the fundamental methods 

employed in valuing a business. Major 

emphasis is placed on the discounted 

cash flow (DCF) method. Other methods 

explored include comparative market value, 

book value, the earnings approach, replacement 

value, liquidation value, and the 

factor approach. Finally, students analyze 

and evaluate a company of their choice by 

using the DCF approach and applying 

other appropriate valuation methods. 

Prerequisites: Fundamentals of Corporate 

Finance/FINA1-CE9140 and Financial 

Accounting: Part I/ACCT1-CE8101 or 



Financial Modeling in Corporate 

Financial Analysis Using Excel 

FINA1-CE9675/$895 

M Sec. 1: Thurs. 6.30–9 p.m., June 9–July 28 

(8 sessions). Merav Ozair 

M Sec. 2: Sat. 9 a.m.–2 p.m., July 9–30 

(4 sessions). 

In this lab-based course, gain expertise in 

the quantitative methods used by securities 

analysts to evaluate and value publicly 

traded securities. After a brief review of 

present value, accounting, and statistics, 

learn how to make investment decisions 

based upon present value and other quantitative 

techniques. Use Excel formats and 

layouts to create discounted cash flow 

and relative valuation models. Receive instruction 

against the backdrop of current 

market trends; financial news; and other 

factors that affect stock valuation, specifically, 

how the quantitative models interact 

with changes in security or market attributes. 

Students must have a general knowledge 

of finance and accounting, plus previous 

exposure to Excel. 2.0 CEU (24 50-minute 

hours) 

DERIVATIVE 

INSTRUMENTS 

Learn about the latest technical methods 

and expertise employed by analysts to 

evaluate securities and their derivative instruments. 

Principles of Financial Modeling 

FINA1-CE9685/$790 

N Sec. 1: Wed. 6.30–8.45 p.m., May 25– 

July 20 (9 sessions). Andrew T. Long, 

venture capital consultant. 


(8 sessions). David Gault, executive director, 

Brightwater Capital. 

Financial models are an integral part of 

nearly all major business decisions. The 

advent of spreadsheet tools, such as Excel, 

has greatly enhanced the modeler’s power. 

Paradoxically, such tools have often reduced 

the accuracy of the models produced. 

Increase your ability to analyze business 

problems and translate that analysis into 

financial models that are more flexible, 

more reliable, and ultimately, more useful. 

Students must have knowledge of basic accounting 

and finance. 2.0 CEU 


BANKING AND 

FINANCE 

Learn the corporate financing functions utilized 

inside banks and corporations, including 

capital markets, financial instruments, 

and decision models. 

The Business of Microfinance: 

An Advanced Course 

FINA1-CE9014/$495 

N Sec. 1: Thurs. 6.30–8.45 p.m., June 2– 

July 28 (9 sessions). 

Dig beneath the public relations story of 

microfinance to analyze the more sophisticated 

mechanics of the industry. Assess the 

validity of claims that microfinance is “decoupled” 

from mainstream economic activities 

and dynamics; analyze the dangers 

of over-indebtedness; explore links to the 

international capital markets; and identify 

useful metrics for evaluating an institution’s 

success. Analyze the difference between 

micro and SME lending; discuss the 

recent development and adoption of social 

performance measurement tools; assess the 

usefulness of financial, operational, and social 

ratings; and explore the growth of an 

industry in developed countries such as the 

United States. Prerequisite: Microfinance/ 

FINA1-CE9603 or equivalent experience. 

Business Models for 

Social Entrepreneurship 

FINA1-CE9251/$750 

N Sec. 1: Tues. 6.30–9 p.m., May 31–July 19 

(8 sessions). 

Learn how to apply principles of business 

and finance to ameliorate social disadvantages. 

Develop knowledge of practical skills 

and examine case studies to gain a broad 

perspective of the creative ways in which 

these skill sets are being applied to improve 

society. Students present a group 

project to the class and demonstrate their 

knowledge in midterm and final exams. 

Financial Analysis in Visual Basic 

FINA1-CE9674/$895 

M Sec. 1: Mon. 6.30–9 p.m., June 6–Aug. 1 

(8 sessions). 

Address basic financial problems encountered 

in the workplace, ranging from options 

pricing to calculating the yield 

distribution of an investment opportunity. 

Designed for students with some financial 

knowledge who wish to move beyond the 

constraints of Excel, this course provides a 

deeper understanding of financial processes 

using the more versatile analysis language 

of the standard Excel application Visual 

Basic. Discuss problems and potential 

Visual Basic-based solutions. Explore the 

techniques underlying solutions, and learn 

to write Visual Basic routines from scratch. 

Prior knowledge of Visual Basic is not 

required. Students must have knowledge 

of basic financial and statistical principles. 

2.0 CEU (24 50-minute hours) 


4


CERTIFICATES IN FINANCIAL ANALYSIS 

The Certificates in Financial Analysis offer in-depth training in analytical methods 

used by financial analysts and managers in a variety of settings, including finance departments 

within corporations, investment firms, other financial services institutions, 

and consulting and professional services firms. Three professional certificates are offered 

to meet the needs of students who are new to the field, as well as professionals 

who wish to advance their expertise in a particular area of specialization. 

The Certificate in Financial Analysis is a foundation-focused program emphasizing 

core skills and competencies, which can be completed in nine months. Two Advanced 

Certificates offer specializations that build on the core curriculum of the Certificate in 

Financial Analysis. 

Upon completion of these certificate programs, students gain expertise in: 

• Profitability analysis, including calculation of price-earnings ratios. 

• Liquidity ratios, asset/productivity analysis, and capital structure/debt ratios. 

• Discounted cash flow (DCF) and other valuation techniques. 

• Using Excel spreadsheet modeling to forecast sales, earnings, and free cash flow. 

• Using Visual Basic programming to solve finance problems, including portfolio modeling. 

• Pricing options using the Black-Scholes formula. 

• Pricing fixed-income derivatives. 

Students must decide whether they wish to pursue the certificate in financial analysis 

or one of the advanced certificates since they may not receive both. An advanced certificate 

is earned by taking three courses in the area of specialization, in addition to the 

five courses required for the fundamental certificate. 

Students with minimal experience or formal training are advised to take Finance for 

Nonfinance Professionals/FINA1-CE9642 and/or Finance Math/Statistics: A Skill 

Enhancement and Review Course/FINA1-CE9151 either simultaneously or in advance 

of taking the first course in this program. 

CERTIFICATE IN FINANCIAL 

ANALYSIS 



Fundamentals of Corporate Finance/ 


Financial Statement Analysis/ 

ACCT1-CE8105 



AND 

Intermediate Corporate Finance/ 


OR 

Advanced Corporate Finance/ 


AND 

Valuing a Business/ 


OR 


Financial Analysis Using Excel/ 


ADVANCED CERTIFICATE IN 

FINANCIAL ANALYSIS, 

DERIVATIVE INSTRUMENTS 

(Choose three) 

Derivatives Documentation/ 


Financial Futures and Options in Risk 

Management/FINA1-CE9235 (page 9) 

Fixed Income Portfolio Management/ 


Fixed-Income Securities/ 




(page 7) 

Pricing Options/ 

FINA1-CE9246 (2011–2012) 

Principles of Financial Modeling/ 



FINANCIAL ANALYSIS, BANKING 

AND FINANCE (Choose three) 

Advanced Financial Statement 

Analysis/ACCT1-CE8106 

Business Models for Social 

Entrepreneurship/FINA1-CE9251 

(page 4) 

The Business of Microfinance: An 

Advanced Course/FINA1-CE9014 

(page 4) 

Financial Analysis in Visual Basic/ 




Fundamentals of Portfolio Management/ 


Mergers and Acquisitions: U.S. and 

Overseas/FINA1-CE9180 (page 11) 

Microfinance/FINA1-CE9603 

(2011–2012) 


FINANCIAL 

PLANNING 

The demand for sound financial advice 

from knowledgeable professionals has 

never been greater, and the public has a 

new awareness of Certified Financial 

Planner (CFP ® ) credentials. NYU-SCPS 

certificate programs in financial planning 

are registered with the Certified Financial 

Planner Board of Standards, Inc. 

Successful completion of the NYU-SCPS 

curriculum satisfies the educational requirements 

for eligibility to sit for the CFP® 

Certification Examination. NYU does not 

certify an individual to use the CFP, 

CERTIFIED FINANCIAL PLANNER , and 

CFP (with flame logo) ® marks. CFP certification 

is granted only by the CFP Board to 

those persons who, in addition to completing 

an educational requirement such as 

NYU’s CFP Board-Registered Programs, 

have met its ethics, experience, and examination 

requirements. 

Financial Planning Review Course 

FINA2-CS1000/$975 

W Sec. 201: Wed. 12–5.30 p.m., Thurs. Fri. 

Sat. 8 a.m.–5.30 p.m., Sun. 8 a.m.–12.30 p.m., 

June 15–19 (5 sessions). 

This five-day review course is intended for 

students who have completed an educational 

program such as NYU’s Certificate 

in Financial Planning and intend to sit for 

the CFP® Certification Exam. It is also 

suitable for CPAs, attorneys, and others 

who are eligible for Challenge Status or 

qualify through the transcript review 

process.H 

FP 1: Fundamentals of 

Financial Planning 

FINA1-CE9940/$790 

W Sec. 1: Mon. 6–9.20 p.m., May 23–Aug. 8 

(10 sessions). David J. Novick, CFP, CHFC, 

certified financial planning professional/consultant, 

Prometheus Capital Management. 

N Sec. 2: Wed. 6–8.45 p.m., May 25–Aug. 10 

(12 sessions). Stephen P. Wetzel, CFP, president, 


Learn the fundamentals of financial planning 

in this prerequisite for the other 

courses in the financial planning program. 

Topics include financial planning functions, 

time value of money, economic and 

legal environments, financial analysis, and 

ethical and professional considerations. 

Students get practical experience utilizing 

data-gathering forms, constructing personal 

financial statements, budgeting, and 

dealing with regulatory requirements. Two 

classes are devoted to the use of the financial 

calculator. Students may take financial 

calculator workshops prior to or concurrent 

with this course. 4.0 CEU 


FP 2: Financial Planning 

Process and Insurance 

FINA1-CE9951/$790 


(12 sessions). H. Michael Terreri, CLU, ARM 

small business planning and risk management 

consultant. 

Review basic financial planning principles 

and become familiar with the concepts of 

risk management. Topics include identifying 

risk exposures, legal aspects of insurance, 

insurance policy analysis, and employee 

benefits. Gain practical knowledge of the 

types of life insurance policies along with 

life insurance needs analysis, property and 

casualty insurance, medical and disability 

insurance, and Social Security benefits. 

Two classes are devoted to the use of the 

financial calculator. Fees for required study 

guides and the online final exam are not included 

in tuition. Required course booklets 

and online exams are purchased online at 

dalton-education.com. Click “Student Storefront,” 

enter NYU for “School” and nyucfp1 

for “Password.” Textbooks may be purchased 

elsewhere. 4.0 CEU (40 50-minute hours) 

FP 3: Investment Planning 

FINA1-CE9959/$790 


(12 sessions). Joseph Matthews, vice president, 

wealth management, Merrill Lynch. 

Learn how to assess a client’s risk tolerance 

level, tax situation, liquidity, and marketability 

requirements to determine appropriate 

investment vehicles. Topics include 

regulation of markets, investment vehicles, 

investment theory, financial markets, and 

modern portfolio theory. Two classes are 

devoted to the use of the financial calculator. 

Fees for required study guides and the online 

final exam are not included in tuition. 

Required course booklets and online exams are 

purchased online at dalton-education.com. 

Click “Student Storefront,” enter NYU for 

“School” and nyucfp1 for “Password.” 

Textbooks may be purchased elsewhere. 


Financial Calculator Proficiency Exam 

FINA1-CE9952/$50 

Tests are administered throughout the 

semester. Call (212) 992-3400 or e-mail 

scps.fp.info@nyu.edu to schedule your exam. 

This exam is designed to test students 

on the use of the financial calculator. All 

students in the Certificate in Financial 

Planning program must pass a calculator 

proficiency examination with a minimum 

grade of 70 percent. The purpose of this 

exam is to ensure that students are able to 

apply the theory they have learned in their 

courses to solving practical financial problems 

in a timely manner. The exam includes 

problems related to time value of 

money, cash flow, standard deviation, 

growth rates and geometric averages, 

mortgage calculations, college funding, 

security valuation, basic statistic applications, 

and various other investment problems. 

Take the exam after completing FP1, 

FP2, and FP3. 

5 




FP 4: Income Tax Planning 

FINA1-CE9960/$790 

N Sec. 1: Thurs. 6–8.45 p.m., May 26–Aug. 11 

(12 sessions). John E. Johansen, CPA, CFP 

Become familiar with the tax law research 

process, terminology, the computation of 

tax, and other concepts of income tax accounting. 

Learn tax management techniques, 

tax implications of employee 

benefits and investments, and tax implications 

of financial planning strategies. 

Business structure, sale of personal residence, 

and passive activity loss rules are also 

covered. Fees for required study guides and the 

online final exam are not included in tuition. 







FP 5: Retirement Planning 

and Employee Benefits 

FINA1-CE9944/$790 

N Sec. 1: Tues. 6–8.45 p.m., May 24–Aug. 9 

(12 sessions). 

Gain familiarity with personal and employee-sponsored 

retirement plans. Topics 

include Social Security and Medicare benefits, 

IRAs, tax-sheltered annuities, qualified 

retirement plans, distribution options, 

and taxation and income tax deduction/ 

benefit limitations. Learn the characteristics 

of qualified plans for employees, retirement 

needs analysis, and how to determine 

suitable investments and other employee 

benefits. Fees for required study guides and the 

online final exam are not included in tuition. 







FP 6: Estate Planning 

FINA1-CE9946/$790 

N Sec. 1: Thurs. 6–9 p.m., May 26–Aug. 4 

(11 sessions). Russell Fishkind, Esq., partner, 

Saul Ewing LLP. 

Learn how the federal estate tax system 

works and what to consider when doing 

estate planning. Topics include federal estate 

and gift taxation, various estate planning 

techniques, trusts use, life insurance 

as an estate planning tool, gifts, charitable 

transfers, intrafamily business and property 

transfers, and planning for incapacity. Fees 

for required study guides and the online final 

exam are not included in tuition. Required 

course booklets and online exams are purchased 

online at dalton-education.com. Click 

“Student Storefront,” enter NYU for “School” 

and nyucfp1 for “Password.” Textbooks may be 

purchased elsewhere. 4.0 CEU (40 50-minute 

hours) 

CERTIFICATE IN FINANCIAL PLANNING 

This certificate program is designed to fulfill the educational requirements necessary to 

sit for the Certified Financial Planner Certification Examination. The program covers all 

89 financial planning topics required by the Certified Financial Planner (CFP) Board of 

Standards, Inc., and additional relevant topics. The certificate is available in three program 

formats to accommodate students’ specific needs and scheduling: the Certificate in 

Financial Planning, the Web-Delivered Certificate in Financial Planning (Live Online, 

Instructor-Led), and the Web-Delivered Certificate in Financial Planning (Self-Paced). 

Who should enroll: 

The Certificate in Financial Planning is for professionals and college graduates 

who want a career in financial planning; those who work with financial planners, accountants, 

attorneys, real estate agents, stockbrokers, or insurance agents; and individuals 

interested in learning about long-term life cycle financing. The programs are 

designed for students who want to complete their educational requirements for the 

CFP® examination. 

Upon completion of the program students have: 

• Satisfied the educational requirements of the Certified Financial Planner 

Board of Standards, Inc. 

• Substantive knowledge and technical skills for professional competence 

as a financial planner. 

• Knowledge of all 89 topics mandated by the Certified Financial Planner 

Board of Standards, Inc. 

• Proficiency in the use of a financial calculator. 

For more information, visit scps.nyu.edu/cfp, e-mail scps.fp.info@nyu.edu, 

or call (212) 992-3400. 

Note: CFP Board owns the marks CFP, CERTIFIED FINANCIAL PLANNER and 

CFP (with flame logo)®, which it awards to individuals who successfully complete initial 

and ongoing certification requirements. 

OPTION 1: Traditional Financial 

Planning Program 

This program provides traditional classroom 

learning and flexibility, presented in 

six modules covering the fundamentals of 

financial planning, including the financial 

planning process and insurance, investment 

planning, income tax planning, retirement 

planning and employee benefits, 

and estate planning. Candidates have up 

to four years to complete this program. 

A calculator proficiency exam is required. 

Tuition fees do not include the cost of required 

study guides and online exam fees in 

courses FP 2 through FP 6, which must be 

purchased by each individual student in 

order to qualify for access to the online final 

exam. NYU-SCPS arranges for registered 

students to purchase the materials from the 

copyright owner. This option does not include 

the CFP® Certification Exam Review/ 

FINA2-CS1000. 


FP 1: Fundamentals of Financial 

Planning/FINA1-CE9940 (page 5) 

FP 2: Financial Planning Process and 

Insurance/FINA1-CE9951 (page 5) 

FP 3: Investment Planning/ 


Financial Calculator Proficiency Exam/ 


FP 4: Income Tax Planning/ 


FP 5: Retirement Planning and Employee 

Benefits/FINA1-CE9944 (this page) 

FP 6: Estate Planning/ 


OPTION 2: Web-Delivered 

Certificate in Financial Planning 

(Live Online, Instructor-Led) 

FINA1-CE9900/$4,950 

V Sec. 1: Mon. Wed. 5.30–7.30 p.m., 

May 9–Jan. 11 (60 sessions). 

This nine-month, fully interactive, online 

program allows professionals from across 

the country to participate via their computer. 

Using a headset and voiceover- 

IP technology, students engage in a virtual 

classroom and interact with instructors 

and fellow students. The program 

is offered in partnership with Dalton 

Education, innovators in online financial 

services education. For a demonstration, 

visit scps.nyu.edu/cfp. Tuition fees do not 

include the cost of required course materials, 

textbooks, and online exam fees. This option 

does not include the CFP® Certification 

Exam Review/FINA2-CS1000. 

OPTION 3: Web-Delivered 

Certificate in Financial Planning 

(Self-Paced) 

FINA1-CE9970 

V Sec. 1: Dates and hours to be arranged 


Designed for students who are motivated 

to participate in self-directed online study, 

this program can be completed at an individual 

pace and customized to fit each 

student’s interests and needs. Ideal for 

students with some professional experience, 

the program can be completed in 

nine months or less. The program is 

offered in partnership with Dalton 

Education. For details or to register, visit 

scps.nyu.edu/cfp or call (877) 426-2373. 


PERSONAL FINANCE 

Learn to be an educated investor, prepare 

a personal cash flow statement, and develop 

your own financial plan. These 

courses are designed for people who are 

not finance professionals but who want a 

better understanding of investing, managing 

short- and long-term finances, and personal 

finance planning. 

TOPICS IN FINANCE 

Topics in Finance Series 

FINA1-CE9761/$95 

N Sec. 1: Thurs. 6.30–8.30, June 16–30 

(3 sessions). William Wu, CFP, 

Kramer Financial Group, LLC. 

The “new normal” applies not only to 

the economy but to our careers and how 

we manage our finances. The recent financial 

crisis challenged all of us to take 

charge of our financial security under 

a new set of assumptions. Discuss the 

tools and knowledge to survive, succeed, 

and thrive in your finance career. 

SESSION 1: OPTIMIZING CASH 

FLOW AND BUDGETING 

The first step toward proper financial 

planning is ensuring your finances are 

secure. Learn to manage liabilities by 

developing a budgeting plan. Discover 

creative ways to save money in New 

York City. This class is designed to 

provide a proper basis for investing. 

SESSION 2: INTRODUCTION 

TO INVESTING 

Learn the importance of setting goals 

when beginning to invest. Examine different 

types of investments, and study 

how to evaluate and use mutual funds. 

Understand the risks and concerns before 

investing. This class is designed for 

the novice-to-intermediate investor. 

SESSION 3: NAVIGATING 

THE FINANCIAL ADVISORY 

INDUSTRY 

This session ties together the previous 

classes and provides preparation for 

seeking advice from the financial 

planning industry. What do all of 

those certifications mean How are financial 

planners compensated How 

do I find a good financial planner 

These are just a few of the questions 

that are answered. 




H Consult an advisor before registering. 


6


Fundamentals of Individual Investing 

FINA1-CE9855/$395 

M Sec. 1: Wed. 12–3 p.m., May 25–July 6 

(7 sessions). Stephen P. Wetzel, CFP, president, 


Designed for the novice investor, this 

course introduces concepts important to 

managing a portfolio and provides students 

with the ability to make confident decisions 

about their personal finances. Topics 

include understanding a brokerage account, 

the Dow Jones Industrial Average, the 

characteristics of stocks and bonds, the 

basic valuation of stocks, taxes for the 

investor, and the psychology of investing. 


Personal Finance Basics: 

Getting Started 

FINA1-CE9417/$395 

M Sec. 1: Tues. 12–2.35 p.m., June 7–July 12 

(6 sessions). Michael Oberstein, chair and 

clinical assistant professor, NYU-SCPS 

noncredit finance programs. 

Comprehend the many instruments used 

in a financial plan and make sense of underlying 

assets and the potential uses of 

benefits. Topics include time value of 

money, career planning, money management, 

savings accounts, CDs, money markets, 

T-bills, stocks, bonds, mutual funds, 

emergency funds, and credit. Learn the 

types of financial institutions and products 

available; understand the financial considerations 

of changing careers; and develop 

strategies for making better decisions when 

buying a house or a car, or when making 

other large purchases. Study home and life 

insurance policies and factor important 

considerations into health and long-term 

care insurance purchases. 1.5 CEU 


Wondering 

what to take 

scpsinfo@nyu.edu 

(212) 998-7200 





Personal Finance: 

Developing Your Financial Plan 

FINA1-CE9850/$395 

N Sec. 1: Wed. 6.30–8.30 p.m., May 18– 

Aug. 10 (12 sessions). David L. Hoyer, CFP, 

registered investment advisor, Hoyer 

Financial Services. 

Cover essentials of personal finance and 

learn to align sound financial goals with 

values and lifelong plans. Learn to improve 

cash flow and how to save and invest while 

reducing risk. Gain a better understanding 

of the importance of credit history and 

ways to improve it while reducing the 

possibility of identity theft. Map out a 

retirement plan and learn essential estate 

planning and tax considerations. 1.5 CEU 


Strategic Alliances 

FINA1-CE9187/$750 

N Sec. 1: Tues. 6.30–8.30 p.m., May 24– 

July 26 (10 sessions). Patrick McGuinness 

Strategic alliances such as joint ventures, 

virtual and internet alliances, group alliances, 

and other relationships are critical 

initiatives for large and small businesses. 

Students acquire the information and skills 

necessary to enhance their careers by intelligently 

handling strategic alliance issues. 

Topics include types of alliances, developing 

the process for managing the relationship, 

alliance versus acquisition, communicating 

the alliance, and identifying beneficial 

partners. Guest speakers share their expertise 

in international alliances and joint 

ventures. 2.0 CEU (24 50-minute hours) 

Wealth Management: How to Be 

Prepared, Survive, and Thrive 

FINA1-CE9006/$395 

N Sec. 1: Mon. 6.30–8.30 p.m., June 13– 

July 25 (5 sessions). No class June 20. 

Jose R. da Cruz, CFA, Morgan Stanley 

Smith Barney. 

Wealth management is not just for individuals 

with a high—or ultra-high—net worth. 

Given the disappearance of traditional guaranteed 

pension plans, lack of job security, 

and increased volatility in the capital markets, 

individuals have to take charge of 

managing their own finances in order to 

reach their goals. Develop a framework 

that can be implemented immediately to 

establish personal financial goals, devise 

appropriate investment strategies, and 

monitor performance. 

FINANCIAL RISK MANAGEMENT AND 

DERIVATIVE INSTRUMENTS 

The ongoing turmoil in the markets continues to amplify the need for improved risk management, 

and corporations are investing in developing improvements in their identification, 

measurement, and management procedures. The need for financial risk managers also 

grows with new compliance and regulation standards. These courses teach the strategies 

and principles of financial risk management, techniques to qualify and measure risk, technical 

and fundamental analysis, structure of derivatives markets, and pricing and valuation 

methods for derivatives instruments. The Certificate in Financial Risk Management is regularly 

updated to respond to today’s changing economic landscape. 

Fundamentals of Financial 

Risk Management 

FINA1-CE9208/$805 

W Sec. 1: Tues. 6.30–9 p.m., May 24–July 12 

(8 sessions). John McCormack, valuation and 

enterprise risk management consultant. 

N Sec. 2: Wed. 6–10 p.m., June 1–29 

(5 sessions). 

Get an overview of financial risk management 

and its importance in today’s global 

marketplace. Examine why understanding, 

measuring, and managing risk are critical 

considerations in the financial services industry. 

Learn the most current methods 

and tools used by risk management professionals. 

Topics include market and investment 

risk, value at risk (VaR), time value 

of money, probability theory and statistics, 

fixed income, and Monte Carlo simulations. 

Prerequisites: Introduction to the Markets/ 

FINA1-CE9000 and Fundamentals of 

Portfolio Management/FINA1-CE9001 or 



Core Concepts in Asset Securitization 

FINA1-CE9162/$750 


July 28 (8 sessions). Norman Chaleff, 

senior vice president–risk management, 

Sterne, Agee & Leach. 

Examine the core principles of securitization 

in this in-depth review of common 

structured finance asset classes. Learn how 

securitization differs from other funding 

methods—such as asset-based commercial 

lending—and develop the conceptual 

understanding needed for more advanced 

study. Case studies cover three basic consumer 

asset classes: credit cards, auto loans, 

and residential mortgages. This course 

is designed for those new to the field. 

Students are required to work with structured 

finance documentation. Prior exposure 

to fixed income markets is helpful but 

not required. 1.5 CEU (19 50-minute hours) 

Related Program 

NYU-SCPS offers a Graduate 

Certificate in Enterprise Risk 

Management within the M.S. in 

Management and Systems program. 

Interest Rate Swaps 

FINA1-CE9240/$750 

M Sec. 1: Sat. 10 a.m.–3 p.m., June 4–25 

(4 sessions). Ilene Froom, 

executive director and assistant general 

counsel, JPMorgan Chase Bank, N.A. 

Examine interest rate swaps and their importance 

in today’s capital markets. Discuss 

swaps within the following contexts: why 

firms use them, types of swaps, advantages 

and inherent risks, pricing strategies, present 

and future values applications, regulation 

of participants in the market, balance 

sheet effects, and financial disclosure. 

Other topics include swaptions, captions, 

step-up coupon caps, delayed caps, and the 

impact of inflation. Prerequisite: Finance 

Math/Statistics: A Skill Enhancement and 

Review Course/FINA1-CE9151 or knowledge 

of basic mathematics. 2.0 CEU 


Credit Risk Models: 

Theory and Applications 

FINA1-CE9214/$750 

N Sec. 1: Mon. 7–9.15 p.m., June 6–Aug. 8 

(9 sessions). 

Examine techniques to manage, measure, 

and control credit risks inherent in loans, 

bonds, and derivative products. Review 

mathematical models and methodologies 

widely used in the financial industry to 

quantify credit risks for stand-alone securities 

as well as security portfolios. Understand 

regulatory perspectives on best practices 

for managing and monitoring credit risks. 

Analyze the impact of the Basel II accord 

on the management, measurement, and 

control of credit risks. Prerequisite: Finance 

Math/Statistics: A Skill Enhancement and 

Review Course/FINA1-CE9151 or familiarity 

with derivatives, financial markets, 

and the use of spreadsheets. 2.0 CEU 

(24 50-minute sessions) 

Intermediate Financial 

Risk Management 

FINA1-CE9201/$750 

N Sec. 1: Wed. 6–10 p.m., July 6–27 

(4 sessions). Alan Anderson, FRM 

Build on basic knowledge of risk management 

tools and techniques to explore more 

complex issues in financial risk management, 

including credit risk, derivatives, 

hedging techniques, hedge funds, and enterprise-level 

risk measurement and management. 

Prerequisite: Fundamentals of 

Financial Risk Management/FINA1-CE9208 

or equivalent knowledge. 

7 




FRM® EXAM REVIEW COURSES 

FRM ® Exam Review (Level I and II) 

FINA1-CE9700/$4,950 

W Sec. 1: Fri. 6.30–9.30 p.m., Sat. Sun. 

10 a.m.–5 p.m., June 3–July 24 (21 sessions). 

Alan Anderson, FRM 

V Sec. 2: Dates and hours to be arranged. 

This interdisciplinary course prepares 

professionals for both the Level I and 

II Financial Risk Manager FRM® 

Exam administered by the Global 

Association of Risk Professionals 

(GARP*) each November. The FRM 

credential is considered 

the gold standard in the industry. 

The complete package includes all 

pre-reviews, program training modules, 

and final exam review. Students receive 

regularly scheduled review sessions, 

exam-taking skills utilizing past exams, 

class notes, and instructor-led support 

via e-mail until the day of the exam. 

Prerequisites: Fundamentals of Finance 

Risk Management/FINA1-CE9208, The 

Options Market and Trading Strategies/ 

FINA1-CE9120, Financial Futures and 

Options in Risk Management/FINA1- 

CE9235, and Interest Rate Swaps/FINA1- 

CE9240 or Pricing Interest Rate Swaps 

and Their Derivatives/FINA1-CE9250, 

or equivalent experience. 

FRM ® Level I Exam Review 

FINA1-CE9698/$2,825 


10 a.m.–5 p.m., June 3–26 (12 sessions). 


Level I topics of study focus on the items 

determined by the most recently published 

GARP AIMS for candidates 

preparing to sit for the Level I exam: 

Quantitative Review, Foundations of 

Risk Management and Financial 

Markets, Quantitative Analysis, and 

Risk Modeling. 

FRM ® Level II Exam Review/ 

FINA1-CE9793/$2,125 


10 a.m.–5 p.m., July 8–24 (9 sessions). 


Level II topics of study focus on the items 

determined by the most recently published 

GARP AIMS for candidates 

preparing to sit for the Level II exam: 

Market Risk and Investment Risk, 

Credit Risk and Risk Management 

Issues, and Operational Risk. 

Candidates planningto take both the 

Level I and Level II exams should register 

for FINA1-CE9700. For more information, 

e-mail scps.frmexam@nyu.edu 

or call (212) 992-3400. 

* GARP does not endorse, promote, review, or 

warrant the accuracy of the products or services 

offered by NYU-SCPS of FRM-related information, 

nor does it endorse any pass rates claimed 

by the provider. Further, GARP is not responsible 

for any fees or costs paid by the user to 

NYU-SCPS nor is GARP responsible for any 

fees or costs of any person or entity providing 

any services to NYU-SCPS. FRM®, GARP®, 

and Global GARP of Risk Professionals are 

trademarks owned by the Global Association 

of Risk Professionals, Inc. 

NEW 

BANKING AND 

FINANCIAL SERVICES 

Learn the strategies and principles used to 

measure and manage financial risk, and 

understand how markets operate in futures, 

options, swaps, and other derivative 

instruments used to protect assets. 

Advanced Financial Risk Management 

FINA1-CE9723/$750 

W Sec. 1: Thurs. 6.30–8.30 p.m., June 30– 

Aug. 18 (8 sessions). 

Build upon the knowledge and skills 

gained in Intermediate Financial Risk 

Management through a comprehensive examination 

of interest rate risk, commodity 

and futures risk, credit risk, cash flow risk, 

and earning and currency exchange risk. 

Learn to identify and measure financial 

risks faced by corporations, establish an effective 

risk program, and develop hedging 

strategies to minimize risk by using realworld 

case study methods and recent examples. 

Prerequisites: Fundamentals of 

Financial Risk Management/FINA1-CE9208 

and Intermediate Financial Risk Management/ 

FINA1-CE9201, or equivalent experience. 

Applied Technical Analysis 

FINA1-CE9125/$750 

W Sec. 1: Tues. 6.30–8.30 p.m., May 31–Aug. 2 

(10 sessions). Cornelius Luca, president, LGR. 

Learn to recognize essential chart formations 

and determine how to identify and 

apply the appropriate techniques in this 

introduction to the use of basic charting 

methods. Topics include trends and trendlines, 

ratio analysis (Fibonacci), types of 

charts, reversal and continuation patterns, 

candlestick analysis, construction and application 

of moving averages and oscillators, 

and Elliott wave analysis. Apply these 

technical analysis techniques to current 

price charts. 2.0 CEU (24 50-minute hours) 

Derivatives Documentation 

FINA1-CE9215/$795 

M Sec. 1: Sat. 10 a.m.–2 p.m., July 16– 

Aug. 13 (5 sessions). Ilene Froom, executive 

director and assistant general counsel, 

JPMorgan Chase Bank, N.A. 

Learn to prepare legal documents for, and 

draft the three major components of, derivatives 

documentation. Review the various 

legal and regulatory influences on 

derivatives, as well as documentation 

methods used outside the United States. 


NEW 

Derivatives Modeling Using VBA 

FINA1-CE9249/$795 

W Sec. 1: Mon. 6–10 p.m., July 11–Aug. 8 

(5 sessions). Alan Anderson 

Get an intensive introduction to the mathematical 

modeling of derivative securities 

with a focus on developing algorithms for 

option pricing models. The Visual Basic 

for Applications (VBA) language is used 

throughout the course and key features of 

VBA are introduced as needed. Learn the 

mathematical foundations of numerous 

pricing models—the Black-Scholes model, 

binomial and trinomial trees, finite difference 

methods, and Monte Carlo simulation—and 

how algorithms are developed 

to implement these models in VBA. 

Pricing models for interest rate derivatives 

and exotic options are also developed, 

time permitting. Prerequisites: Financial 

Futures and Options in Risk Management/ 

FINA1-CE9235 or equivalent, college-level 

mathematics, and familiarity with Excel. 

No prior knowledge of VBA necessary. 

Implications of the Dodd-Frank 

Wall Street Reform and 

Consumer Protection Act 

FINA1-CE9724/$795 

W Sec. 1: Mon. 6.30–9 p.m., June 6–Aug. 1 

(8 sessions). 

Wall Street and the financial service industry 

brought about the largest financial crisis 

since the Depression. The 1929 crash 

led to increased regulation and the founding 

of the U.S. Securities and Exchange 

Commission (SEC) and Federal Deposit 

Insurance Corporation (FDIC), profoundly 

changing the landscape and instituting 

safeguards and policing. The 

Dodd-Frank Wall Street Reform and 

Consumer Protection Act brings increased 

regulations, more power to the federal government, 

and establishes new regulatory 

authorities. Review the act—and the updated 

changes—and discuss its future implications 

for the financial service industry, 

corporations, investors, and the public. 

Hedge Fund Strategies 

FINA1-CE9209/$845 

W Sec. 1: Wed. 6.30–9 p.m., May 25–July 13 

(8 sessions). Zachary R. Michaelson 

Explore the investment strategies and 

techniques used by hedge fund managers 

in the areas of bonds, stocks, fixed assets, 

currency, options, and commodities. Study 

different strategies including event-driven 

or distressed mergers, long and short equities, 

funds, and convertible arbitrage and 

global macro strategies. Performance measurements; 

alpha, beta, and Sharpe ratio; 

and market efficiency are also covered. 

NEW 

Risk Management of Capital Assets: 

Risk Capital, Regulatory Capital, 

and Liquid Cash 

FINA1-CE9726/$650 


July 19 (8 sessions). Norman Chaleff, senior 

vice president–risk management, Sterne, 

Agee & Leach. 

Learn to manage different types of capital, 

measure management, and allocate assets 

for three basic types of capital: equity, 

regulatory, and liquid. Examine risk of loss 

of equity, risk of noncompliance and 

regulatory requirements, and risk of insufficient 

short-term liquidity to fund operations. 

Analyze your organization using 

this framework in order to make cogent 

recommendations to management. 

Systemic Risk and Its 

Impact on the Markets 

FINA1-CE9124/$750 

N Sec. 1: Mon. 7–9 p.m., May 23–Aug. 8 


Gain the fundamental financial tools and 

techniques to identify sources of potential 

systemic risks, measure a portfolio’s exposure 

to such risks, and design effective riskmitigating 

strategies. Every asset allocator, 

whether a sophisticated private investor, 

institutional portfolio manager, investment 

committee member, investment advisor, liability 

manager, CFO, or treasury professional 

is required to identify sources of 

potential systemic risk and to understand 

the implication of such exposures to his or 

her portfolio or enterprise. Examine systemic 

risk, the dynamics of hedging, current 

issues pertaining to derivatives, and 

the historical development of past crises. 


8


INDUSTRY AND 

SERVICE COMPANIES 

Financial Futures and 

Options in Risk Management 

FINA1-CE9235/$750 


(8 sessions). Zachary R. Michaelson 

This risk management approach to the 

fundamentals and trading aspects of financial 

futures and options markets is designed 

for bankers, treasury professionals, 

and traders. Topics include description and 

delivery of contracts; methods of trading 

(puts, calls, spreads versus futures); pricing 

mechanisms; and money management applications, 

including hedging and arbitrage 

techniques. Review momentum and technical 

analysis, margin computation, and 

market regulations. Participate in simulated 

trading in interest rate futures, currency 

futures, and stock indices and 

options. 2.0 CEU (24 50-minute hours) 

Using the Yield Curve 

FINA1-CE9211/$750 

N Sec. 1: Wed. 6.30–8.30 p.m., June 1–Aug. 3 

(10 sessions). Aleksey V. Leksanov, FRM, 

portfolio manager and director–quantitative 

development, Stone Tower Capital LLC. 

Examine the factors that create risk and 

provide return in fixed-income markets. 

Review the basics of money markets and 

the role of the Fed in determining shortterm 

interest rates. Learn the essentials of 

bond pricing, price sensitivity (duration 

and convexity), zero (spot) curves, forward 

curves, and yield-curve strategies. Gain an 

understanding of options as they relate to 

fixed-income markets. The course concludes 

with an exploration of callable 

bonds and mortgage-backed securities, and 

an introduction to the fixed-income derivatives 

market. Students must have a basic 

understanding of financial markets and 

basic proficiency in mathematics. 2.0 CEU 


Web 

For the most up-to-date 

course information and 

to register online, visit: 

scps.nyu.edu 

CERTIFICATES IN 

FINANCIAL RISK MANAGEMENT 

NYU-SCPS offers three professional certificate programs in financial risk management 

to meet the needs of students who are new to the field, as well as professionals who 

wish to advance their expertise in a particular area of specialization. These certificates 

cover the measurement and management of financial risk, as well as the nature and 

operation of markets in futures, options, swaps, and other derivative instruments, 

which serve both as hedges against risk and as sources of potential profit. The Certificate 

in Financial Risk Management is a foundation-focused program emphasizing core 

skills and competencies, which can be completed in nine months. The Advanced 

Certificates in Financial Risk Management build on the core certificate with specializations 

in either Banking and Financial Services or Industry and Service Companies. 

Upon completion, students have covered: 

• Strategies and principles of financial risk management. 

• Measurement techniques necessary to manage and measure financial risk. 

• Structuring of limits to control risk taking. 

• Mathematical models and how they contribute to risk control, 

including value at risk (VaR). 

• Structure of various derivatives markets (e.g., options, futures, and swaps). 

• Pricing and valuation techniques for derivatives instruments. 

Students must decide whether they wish to pursue the fundamental certificate or one 

of the advanced certificates since they may not receive both. An advanced certificate is 

earned by taking three courses in the area of specialization in addition to the five 

courses required for the fundamental certificate. 

Students with minimal experience or no formal training are advised to take Finance Math/ 

Statistics: A Skill Enhancement and Review Course/FINA1-CE9151 either simultaneously 

or in advance of taking the first course in this program. 

CERTIFICATE IN FINANCIAL 

RISK MANAGEMENT 





Core Concepts in Asset Securitization/ 


Interest Rate Swaps/ 


Credit Risk Models: Theory and 

Applications/FINA1-CE9214 (page 7) 

Intermediate Financial Risk 



FINANCIAL RISK MANAGEMENT, 

BANKING AND FINANCIAL 

SERVICES (Choose three) 



Advanced Financial Risk Management/ 




Basics of Centrally Cleared Derivatives/ 

FINA1-CE9248 (2011–2012) 

CDO Basics/ 

FINA1-CE9133 (2011–2012) 

Derivatives Documentation/ 


Derivatives Modeling Using VBA/ 


Equity Derivatives/ 

FINA1-CE9245 (2011–2012) 



FRM® Exam Review Course/ 


FRM® EXAM Level I Review/ 


FRM Exam Level II Review/ 


Hedge Fund Operation Risk and Due 

Diligence/FINA1-CE9237 (2011–2012) 



Implications of the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act/FINA1-CE9724 (page 8) 

Introduction to Hedge Funds/ 

FINA1-CE9203 (2011–2012) 

Measuring and Managing 

Operational Risk Under Basel II/ 

FINA1-CE9016 (2011–2012) 

The Options Market and Trading 

Strategies/FINA1-CE9120 (2011–2012) 

Risk Management of Capital 

Assets: Risk Capital, Regulatory 

Capital, and Liquid Cash/ 


Treasury Bond Basis: Trading, Hedging, 

Modeling/FINA1-CE9373 (2011–2012) 

Volatility Modeling/ 

FINA1-CE9252 (2011–2012) 


FINANCIAL RISK MANAGEMENT, 

INDUSTRY AND SERVICE 

COMPANIES (Choose three) 

Financial Futures and Options in Risk 

Management/FINA1-CE9235 (this page) 


FINA1-CE9203 (2011–2012) 

Pricing Interest Rate Swaps and Their 

Derivatives/FINA1-CE9250 (2011–2012) 


FINA1-CE9246 (2011–2012) 

Using the Yield Curve/ 



INTERNATIONAL 

BUSINESS AND 

FINANCE 

As individual companies and industries expand 

or are reconfigured abroad, opportunities 

grow for professionals with international 

business expertise. NYU-SCPS faculty are 

industry experts with long careers and experience 

in global markets, international trade 

law, and corporate finance. Students learn the 

cultural, economic, political, and social influences 

in international business, and master 

skills within their geographic and subject 

areas of interest to ensure they succeed. 

Introduction to International 

Business and Finance 

FINA1-CE9400/$795 

W Sec. 1: Mon. 6.30–9 p.m., May 23–Aug. 8 

(10 sessions). Christine S. Pomeranz, chairperson, 

international trade and marketing department, 

Fashion Institute of Technology. 

M Sec. 2: Sat. 10 a.m.–1.30 p.m., June 11– 


August Morar, executive director, Center for 

International Business Strategic Studies. 

Examine the economic, political, and social 

forces that shape the global marketplace. 

Analyze procedures adopted to implement 

business operations in diverse economies, 

and learn how to make sharp business decisions. 

Topics include international economic 

principles and their influence on 

foreign trade and productive investments, 

the international monetary system, the exchange 

rate mechanism and its impact on 

direct investments and financial operations, 

international marketing operations for 

products and services, corporate and trade 

financing methods, and foreign risk 

management. 

International Corporate Finance 

FINA1-CE9405/$750 


(8 sessions). 

Gain an understanding of the international 

financial system from both a theoretical 

and a practical point of view. Topics include 

central bank functions; foreign exchange 

markets and convertibility; the eurocurrencies 

markets and the euro; short- and longterm 

financing, including trade and project 

finance; and documentation. This course 

also covers the legal, political, and economic 

framework of international financial 

markets. 2.0 CEU (24 50-minute hours) 

9 




Principles of International Trade 

FINA1-CE9455/$750 


July 26 (10 sessions). Melvin E. Lazar, Esq. 

Explore the basics of an international trade 

transaction and get a practical introduction 

to the fundamentals of import-export procedures. 

The essential elements of international 

trade contracts, shipping terms, 

various transportation modes, U.S. Customs 

procedures, global sourcing, import/export 

financing, and cross-cultural issues are addressed. 

This course covers information 

that is especially valuable for students who 

wish to learn the transaction mechanics 

of importing and exporting. 2.0 CEU 


Running Your Own 

Import/Export Business 

FINA1-CE9461/$750 

N Sec. 1: Wed. 6.30–9 p.m., June 1–July 20 

(8 sessions). Lawrence B. Delson, principal, 

Delson International, Inc. 

Learn the basics of starting an import/export 

operation. Discuss vital topics including 

business start-ups, product and market 

research in the United States and abroad, 

product pricing, distribution systems, customs 

brokers, and international documentation. 

Other topics include banking and 

financing strategies, dealing with customers, 

and ongoing international relationships. 

Presentations encompass computerized 

sources of foreign trade leads and market 

information. Students develop an import 

or export plan for a product of their choice. 


Global Investing 

FINA1-CE9025/$750 


(8 sessions). Joseph P. Quinlan, consultant. 

Managing a global investment portfolio 

leads to both opportunities and problems. 

Learn what these are while also exploring 

topics such as the anatomy of world markets, 

measures of size and liquidity of the 

global stock and bond markets, global asset 

allocation and diversification, global trading 

of securities, global asset risk management, 

sources of financial information, and 

the administrative challenges of global investing. 

Prerequisite: Introduction to the 

Markets/FINA1-CE9000 or equivalent 

knowledge. 2.0 CEU (24 50-minute hours) 




CERTIFICATES IN INTERNATIONAL 

BUSINESS AND FINANCE 

In an era of instant global communications, interdependent economies, and dramatic 

international political developments, an understanding of underlying economic, political, 

and social forces is critical. Under the instruction of industry experts, our programs 

are designed to equip professionals at all levels with the key skills of international 

business, as well as to provide vital knowledge of U.S. business practices. 

NYU-SCPS offers three professional certificates to meet the needs of students who 

are new to the field, particularly those considering an M.B.A. program, as well as professionals 

who wish to advance their expertise in a particular area of specialization. 

The Certificate in International Business and Finance is a foundation-focused program 

emphasizing core skills and competencies, which can be completed in nine 

months. Two Advanced Certificates in International Business and Finance build on 

the core certificate with specializations in either India, China, and Other Emerging 

Markets or Overseas Investing. 

Upon completion of these programs, students have an in-depth knowledge of the international 

financial system, including exchange-rate mechanisms, tariffs, and international 

trade issues: 

• How to identify cultural, economic, political, and social influences in the international 

business arena. 

• Basic concepts of multinational financial management and the impact of foreign 

exchange on cash flow. 

• Legal, political, and economic frameworks of international markets, including the 

euro and eurocurrencies markets. 

• Key issues of international banking operations. 

Students must decide whether they wish to pursue the fundamental certificate or one 

of the advanced certificates since they may not receive both. An advanced certificate is 

earned by taking three courses in the area of specialization in addition to the five 

courses required for the fundamental certificate. 


Nonfinance Professionals/FINA1-CE9642 either simultaneously or in advance of taking 

the first course in this program. 


INTERNATIONAL BUSINESS 

AND FINANCE 



Introduction to International 

Business and Finance/ 


International Corporate Finance/ 


Principles of International Trade/ 


Running Your Own Import/Export 

Business/FINA1-CE9461 (this page) 

Global Investing/ 




AND FINANCE, CHINA, INDIA, 

AND OTHER EMERGING 

MARKETS (Choose three) 

Doing Business in China/ 


Business Models for 

Social Entrepreneurship/ 


International Trade Finance/ 


International Trade Law and 

Regulation/LEGL1-CE8805 (this page) 

Investment Opportunities in India/ 

FINA1-CE9128 (2011–2012) 

Issues in a Globalizing Economy/ 


Strategic Alliances/ 




AND FINANCE, OVERSEAS 

INVESTING (Choose three) 

International Banking: Structure, 

Function, and Techniques/ 

FINA1-CE9425 (2011–2012) 

International Business Negotiations/ 


International Financial Markets/ 





CHINA, INDIA, AND 

OTHER EMERGING 

MARKETS 

Understand how to successfully and strategically 

navigate the culture, politics, and economies 

of emerging markets with technical 

knowledge of trade finance and currencies. 

Doing Business in China 

FINA1-CE9406/$350 


July 28 (5 sessions). Lawrence B. Delson, 

principal, Delson International, Inc. 

Acquire the tools necessary to successfully 

operate a small or medium-sized business 

in China. Subjects include the legal environment 

and trends, the impact of China’s 

WTO membership, product sourcing and 

quality control, sales and marketing, methods 

of operations, and intellectual property 

rights. Opportunities in areas such as alternative 

energy, media, and real estate are 

identified. Emphasis is placed on the role 

of, and the need for, cultural and historical 

understanding of the market as a key to 

success. Students receive a brief introduction 

to the Chinese language. 

International Trade Finance 

FINA1-CE9238/$550 

N Sec. 1: Wed. 6.30–9 p.m., May 25–July 13 

(8 sessions). 

Examine methods of securing funds for international 

trade, including letters of credit, 

factoring (invoice discounting and receivables 

financing), asset-based lending, and 

structured trade finance. Explore issues regarding 

the proper management of currency 

exchange and interest fluctuations, 

repatriating earnings and risk management, 

and insurance opportunities and 

credit evaluation services. Analyze relevant 

government and private services, including 

the United States Export-Import Bank, 

Overseas Private Investment Corporation 

(OPIC), and the Foreign Credit Insurance 

Association (SIA). 

International Trade Law and Regulation 

LEGL1-CE8805/$845 


(10 sessions). Melvin E. Lazar, Esq. 

Familiarity with international trade law is 

essential for anyone involved in international 

business. What are the transaction 

risks associated with import and export 

How are international disputes resolved 

Gain practical knowledge to facilitate international 

commercial transactions and, 

through case studies, learn potential risks 

and legal problems. Topics include the formation 

of international sales contracts, the 

documentary sale and terms of trade, letters 

of credit, U.S. regulation of imports 

and exports, the carriage of goods and the 

liability of air and sea carriers, GATT law 

and the World Trade Organization, and 

regional trade areas such as the European 

Union. 3.0 CEU (30 50-minute hours) 


10


NEW 

Issues in a Globalizing Economy 

FINA1-CE9239/$750 


(8 sessions). No class June 9. Lawrence Knoll, 

principal, Wolf, Arnold & Knoll, P.C. 

Discover the various ways in which the 

economies of the world are coming together, 

and explore both the forces driving 

globalization and the resistance to these 

forces. Examine the mechanisms of globalization 

and how it affects people—in the 

context of differing social and economic 

realities. Study the difficulties inherent in 

advancing negotiations to achieve trade 

agreements ratified by the majority of nations, 

and assess proposals put forward by 

several economists. 

OVERSEAS INVESTING 

Learn how to invest in foreign companies 

directly or indirectly, with public or private 

equity. 

International Business Negotiations 

FINA1-CE9402/$750 


(8 sessions). No class June 7 and July 19. 

Lawrence Knoll, principal, Wolf, Arnold & 

Knoll, P.C. 

Gain an overview of issues relevant to international 

business negotiations and discuss 

the most effective practices and methods 

of conducting them. Topics include key 

elements of how to negotiate successfully 

in various situations and build and sustain 

a business relationship. Students develop 

techniques to effectively represent their 

principal, while aiming to achieve mutual 

benefit. Ethical responsibilities are emphasized 

along with the heightening sensitivity 

to personal, behavioral, and cultural 

differences. 

International Financial Markets 

FINA1-CE9429/$750 


(8 sessions). 

Explore modern financial theory and 

examine the structure and functioning of 

the international financial system and the 

institutions within it. Topics include the 

major types of market participants that 

operate in the global economy, the impact 

of asset price fluctuations, and the managerial 

role of governments and central 

banks. Gain a practical understanding of 

how international capital markets function, 

familiarity with contemporary issues in international 

finance, and a deeper knowledge 

of how public policy responses are 

crafted in response to market failures. 

Students must have a familiarity with basic 

market infrastructure. 




INFORMATION SESSION 

Finance 

Tuesday, 6–8 p.m., May 10 

Kimmel Center for University Life 

60 Washington Square South 

INVESTMENT BANKING 

Raising capital in today’s tight financial markets means relying on both traditional and alternative 

resources. These courses demonstrate relevant financial management of internal 

and external funds, equity and debt financings, mergers and acquisition, initial public offerings, 

joint ventures, and other strategic alliances. 

Investment Banking Fundamentals 

FINA1-CE9160/$750 

W Sec. 1: Thurs. 6.30–9 p.m., June 2–July 21 

(8 sessions). Robert K. Nagle, CFA, associate 

director, Moody’s Analytics. 

Analyze the financial services that investment 

banks provide to corporations and 

governments. This introductory course and 

overview of the industry is recommended 

for corporate, bank, and insurance personnel. 

Topics include raising capital through 

the issuance of equity and debt securities; 

initial public offerings and secondary issues; 

private placements; venture capital; 

privatizations; and mergers and acquisitions, 

including the related activities of 

divestitures, spin-offs, and workouts. 


Mergers and Acquisitions: 

U.S. and Overseas 

FINA1-CE9180/$750 


(8 sessions). James J. Bergin, Esq. 

Explore mergers, acquisitions, and divestitures 

in this course designed for corporate 

personnel and investors. Focus on evaluation, 

mechanics, and negotiation strategies 

for business combinations. Topics include 

accounting considerations, valuation, legal 

issues, and tax factors involved in acquisitions. 

Prerequisite: Fundamentals of Corporate 

Finance/FINA1-CE9140 or equivalent 


Venture Capital and Private Equity 

FINA1-CE9185/$750 

W Sec. 1: Thurs. 6.30–9 p.m., May 26–July 14 

(8 sessions). Andrew T. Long, venture capital 

consultant. 

This course is designed for corporate officers, 

sole proprietors, firm partners, and investors 

seeking to develop familiarity with 

the sources and techniques of venture capital. 

Topics include how to prepare a startup 

business plan, critical elements in the 

search for financing, how to raise and utilize 

venture capital, when and how to go 

public, techniques for analyzing value, and 

tax considerations. 2.0 CEU 


Information Sessions include discussions on industry 

news and career opportunities, presentations on 

curriculum, and a chance to ask questions of faculty 

and staff. No RSVP is required, but please be punctual. 

For more information, call (212) 998-7200. 

Venture Capital Intensive 

FINA1-CE9186/$1500 

N Sec. 1: Wed. 6.30–8.30 p.m., June 15– 

July 13 (5 sessions). Osei Anthony Van Horne, 

investment professional–merchant banking 

division, Goldman, Sachs & Co. 

This advanced, hands-on seminar in venture 

capital is tailored to M.B.A.s and 

M.B.A. students, attorneys, accountants, 

finance managers, and investment bankers 

seeking specific knowledge about the venture 

capital industry. Topics include raising 

venture capital funds; structuring venture 

capital partnerships; and key issues in evaluating 

venture stage companies, including 

management analysis, exit alternatives, 

trade sales, intellectual property, and patent 

issues. Venture capitalists and chief executive 

officers present real-world case studies 

and give students the opportunity to simulate 

strategic decision making. 

SALES AND TRADING 

Understand the roles that stockbrokers, 

financial consultants, and traders play, and 

the professional environment in which they 

operate. 

Broker-Dealer Operations 

and Compliance 

FINA1-CE9863/$650 

M Sec. 1: Sat. 9 a.m.–5 p.m., July 9–23 

(3 sessions). William Jannace, Esq., managing 

director–member regulation division, Financial 

Industry Regulatory Authority (FINRA). 

Gain an essential understanding of the 

broker-dealer relationship with respect to 

the clearance and settlement of securities 

and various other broker-dealer operations, 

including net capital, customer protection, 

margin, and books and records requirements. 

The course features an overview of 

recent initiatives to clear and settle derivatives 

and CDS products and covers introducing 

and clearing arrangements, as well 

as the evolving field of prime brokerage. 

Other topics include brokerage accounting, 

clearance, settlement, net capital, customer 

protection rules, introducing and clearing 

operations, and prime brokerage operations. 

RESEARCH ANALYSIS 

Learn to analyze companies and industries 

for growth, distress bankruptcy, and workouts. 

Bankruptcy, Workouts, 

and Reorganizations 

FINA1-CE9335/$750 


July 26 (10 sessions). Gerard DiConza, Esq., 

principal, DiConza Law, P.C. 

Designed for bankers, corporate treasury 

personnel, workout specialists, and lawyers 

who handle middle-market, national, and 

international problem loans and accounts, 

this course examines corporate Chapter 11 

bankruptcies. Topics include plans of reorganization, 

valuation of a business, assetbacked 

securitization transactions, trading 

claims, the law of setoff, preferences, fraudulent 

conveyances, equitable subordination, 

substantive consolidation, the automatic 

stay, use of cash collateral negotiations, and 

debtor-in-possession financing. 2.0 CEU 


How to 

Register 

Web: 

scps.nyu.edu 

By mail: 

Use the form and envelope 

at the back of the Bulletin. 

By telephone: 

(212) 998-7150 

By fax: 

(212) 995-3060 

In person: 

145 Fourth Avenue, 2nd Fl. 

For detailed information, 

see the Registration section 

at the end of this Bulletin. 

11 




CERTIFICATES IN INVESTMENT BANKING 

Learn how corporations finance their activities and how to analyze key factors that 

drive corporate transactions. Three professional certificate options are offered to meet 

the needs of students who are new to the field, particularly those considering an 

M.B.A. program, as well as professionals who wish to advance their expertise in a 

particular area of specialization. 

The Certificate in Investment Banking is a foundation-focused program emphasizing 

core skills and competencies, which can be completed in nine months. Two Advanced 

Certificates in Investment Banking build on the core certificate with specializations in 

either sales and trading or research analysis. 

Upon completion of these programs, students gain an understanding of corporate 

finance, including expertise in areas such as: 

• Financial management and corporate growth, including the use of both 

internal and external funds. 

• Equity and debt financings. 

• Mergers and acquisitions. 

• Initial public offerings. 

• Corporate restructurings. 

• Joint ventures and other strategic alliances. 

• Derivatives transactions, including pricing and valuation techniques. 

• Securitizations. 

• Roles and perspectives of investment bankers and other transaction advisors. 

Students must decide whether they wish to pursue the certificate in investment banking 

or one of the advanced certificates since they may not receive both. An advanced 

certificate is earned by taking three courses in the area of specialization in addition to 

the five courses required for the fundamental certificate. 






INVESTMENT BANKING 



Investment Banking Fundamentals/ 


Strategic Alliances/ 






AND 

Venture Capital and Private Equity/ 


OR 

Venture Capital Intensive/ 



INVESTMENT BANKING, SALES 

AND TRADING (Choose three) 

Broker-Dealer Operations and 

Compliance/FINA1-CE9863 (page 11) 









Initial Public Offerings/ 

FINA1-CE9165 (2011–2012) 


FINA1-CE9203 (2011–2012) 




FINA1-CE9246 (2011–2012) 

Value Investing/ 



INVESTMENT BANKING, 

RESEARCH ANALYSIS 

(Choose three) 

Advanced Financial Statement 

Analysis/ACCT1-CE8106 

Bankruptcy, Workouts, and 

Reorganizations/FINA1-CE9335 

(page 11) 

Business Models for Social 

Entrepreneurship/FINA1-CE9251 

(page 4) 

Financial Statement Analysis/ 

ACCT1-CE8105 


Financial Analysis Using Excel/ 


Valuing a Business/ 



PORTFOLIO MANAGEMENT 

Uncertain markets have created a need to understand derivative analysis and opportunities 

in the areas of portfolio management, asset allocation, and risk management. These 

courses provide finance practitioners and entry-level students the expertise to make smart 

and informed decisions regarding the investment mix, risk, and policy. 

Introduction to the Markets 

FINA1-CE9000/$750 

W Sec. 1: Tues. 6.30–9 p.m., May 24–July 12 

(8 sessions). Michael Oberstein, chair and 

clinical assistant professor, NYU-SCPS 

noncredit finance programs. 

N Sec. 2: Thurs. 6.30–9 p.m., June 16–Aug. 4 

(8 sessions). Jose L. Contin, managing 

director–global relationship management, 

Broadridge Financial Solutions. 

An introduction to the securities markets 

provides the foundation upon which the 

study of finance must be built. Learn the 

difference between stocks, bonds, commodities, 

futures, derivatives, options, and 

currencies. Topics include the history of 

capital markets and how they function; 

risk/return trade-off; fundamental versus 

technical analysis; and contemporary investor 

attitudes, problems, and pitfalls. 

This course also lays the groundwork for 

Fundamentals of Portfolio Management, the 

introductory course to portfolio management. 


Fundamentals of Securities Analysis 

FINA1-CE9005/$750 


Aug. 4 (10 sessions). Michael R. Candan, 

portfolio manager and partner, Armco 

Management Co. 

Explore the principles of securities analysis 

and develop a basic framework for making 

investment decisions. With readily available 

data, learn methods like cash-flow 

analysis for analyzing industries and companies 

to determine investment value. 

Assess the quality of available financial information 

used for the analytical process. 

Examine current investment opportunities 

from practical and theoretical perspectives. 

Prerequisite: Introduction to the Markets/ 

FINA1-CE9000 or equivalent knowledge, 

plus knowledge of accounting basics. 2.0 CEU 


Fundamentals of 

Portfolio Management 

FINA1-CE9001/$750 

N Sec. 1: Wed. 6.30–9.30 p.m., June 1– 

July 13 (7 sessions). Michael Guptan, 

managing director, Duff & Phelps. 

Gain a solid understanding of the portfolio, 

the structure within which financial assets 

are managed. This course introduces 

the various forces and issues that have an 

impact on portfolio construction. Topics 

include investor objectives and constraints, 

asset allocation, the importance of diversification, 

risk/reward trade-offs, portfolio 

management styles (growth versus value), 

strategies for individuals versus institutions, 

choosing a money manager, and measuring 

performance. Prerequisite: Introduction to 

the Markets/FINA1-CE9000 or equivalent 


Intermarket Analysis and 

Investment Strategy 

FINA1-CE9040/$750 

N Sec. 1: Mon. 6.30–8.30 p.m., May 23– 

July 25 (8 sessions). John Stoltzfus 

Examine the cause-and-effect relationships 

that exist among the stock, bond, currency, 

and commodity markets. An analytic framework 

is developed utilizing fundamental 

and technical analysis methods. Review 

economic indicators, the basics of yield 

curve analysis, Federal Reserve Board activities, 

currency trading, option strategies, 

and computerized trend-following methods. 

Study specific investments and trading 

plans, based on current intermarket trends 

and market activity. 2.0 CEU 



12


EQUITY OR 

REAL ESTATE 

Learn to analyze stocks with statistical 

tools and understand real estate deals for 

profit potential and income generation. 

Exchange Traded Funds: 

A New Investment Vehicle 

FINA1-CE9374/$395 

N Sec. 1: Tues. 6.30–9 p.m., June 14–July 19 

(6 sessions). Eleanor Peterkin, managing 

director, EFP Consulting. 

The Investment Company Institute, a 

trade association for the mutual fund industry, 

reports that ETFs assets rose from 

$151 billion in December 2003 to more 

than $422 billion by December 2006. 

Receive a comprehensive overview of 

investing in Exchange Traded Funds 

(ETFs), investment vehicles that have 

similarities to traditional mutual funds. 

ETFs trade on stock exchanges, however, 

and can be bought and sold throughout 

the day. They are transparent, have cost 

and tax efficiencies, and most are designed 

to track the returns of a specific index such 

as the S & P 500. 

Value Investing 

FINA1-CE9009/$750 

N Sec. 1: Thurs. 6.30–8.30 p.m., May 26– 

July 28 (10 sessions). Lawrence S. Balaban, 

president, LSB Credit, Inc. 

Examine the “value” investing style. Gain 

a working knowledge of securities analysis, 

including the rules of Benjamin Graham, 

the father of value investing. Topics include 

stock picking, management evaluation, 

and portfolio building. A detailed 

look at the P/E ratio, mutual funds, and 

asset plays is provided in relation to value 

investing. Open discussion of students’ investment 

philosophies is encouraged, and 

techniques used by active value professionals 

are also covered. Students must have 

basic investing knowledge. 2.0 CEU (24 

50-minute hours) 

FIXED INCOME 

Learn fixed-income management of bonds 

with valuation techniques among different interest 

rate scenarios and risk environments. 

Demystifying Derivatives 

FINA1-CE9227/$550 

N Sec. 1: Tues. 6.30–9 p.m., June 7–July 12 

(6 sessions). John O’Connell 

This nontechnical course examines the key 

concepts and principles of futures, forwards, 

swaps, and options. The course includes 

pricing theory, practical examples, 

and exercises for both fixed income and 

equity instruments. Participants gain the 

fundamental understanding that there are 

only two types of derivatives, and one is 

“derived” from the other. 

Fixed Income Portfolio Management 

FINA1-CE9015/$750 


July 26 (10 sessions). Odie Pichappan, 

research analyst, NY Power Authority. 

Develop an understanding of the theories 

and quantitative methods of portfolio optimization, 

forecasting, and risk management. 

This course covers market inefficiency and 

how such inefficiency can be exploited 

through strategy development. Also covered 

are issues specific to the management 

of fixed income portfolios, including funding, 

yield curve dynamics, and monetary 

economics. Additional topics include international 

markets and foreign exchange, 

financial market history, and the management 

of mortgage and credit instruments. 

Basic understanding of statistics, college 

algebra, fixed income securities, macroeconomics, 

and modeling in Excel are required. 

Prerequisite: Fixed Income Securities/ 

FINA1-CE9104 or equivalent knowledge. 


Fixed-Income Securities 

FINA1-CE9104/$750 


(8 sessions). William Don Alexander, RSD 

Solutions, risk management specialists. 

Explore treasuries and agencies, municipals, 

mortgage pass-throughs and their 

derivatives, asset-backed securities, and 

corporate and convertible bonds in this introduction 

to domestic and international 

debt markets. Review the basics of pricing, 

the risk/return characteristics of fixed income 

and embedded option analysis, bond 

duration measures, convexity, credit and 

rating factors, basic portfolio applications, 

foreign bonds, emerging market debt, 

Brady bonds and rate swaps, tax and regulatory 

consequences, and historical returns. 

Examine the basics of bonds and their 

evaluation, as well as market players. Finish 

the course with a foundation and context 

for managing fixed-income portfolios. 

Students must have knowledge of algebra, 

basic probability, and Excel. 2.0 CEU 


CERTIFICATES IN 

PORTFOLIO MANAGEMENT 

NYU-SCPS offers three professional certificates in portfolio management to meet 

the needs of students who are new to the field, as well as professionals who wish to 

advance their expertise in a particular area of specialization. 

The Certificate in Portfolio Management is a foundation-focused program emphasizing 

core skills and competencies, which can be completed in nine months. Two 

Advanced Certificates in Portfolio Management build on the core certificate with 

specializations in either equity or real estate, or fixed income. 

Upon completion of these programs, students gain a broad understanding of securities 

and investment management topics, including: 

• The operation of equity, fixed-income, and derivatives markets. 

• Securities analysis, including equity and bond valuation. 

• Risk/reward tradeoffs and statistical tools for measurement of risk and return. 

• Portfolio asset allocation and performance analysis. 

• Technical analysis techniques, investments in securities markets outside the United 

States and other areas, as selected by the individual student. 

Students must decide whether they wish to pursue the certificate in portfolio management 

or one of the advanced certificates since they may not receive both. An advanced 

certificate is earned by taking two courses in the area of specialization in addition to 

the five courses required for the fundamental certificate. 

Students with minimal experience or no formal training are advised to take Finance for 




CERTIFICATE IN PORTFOLIO 

MANAGEMENT, CORE COURSES 



Introduction to the Markets/ 


Fundamentals of Securities Analysis/ 


Fundamentals of Portfolio Management/ 


Intermarket Analysis and Investment 

Strategy/FINA1-CE9040 (page 12) 



(page 7) 


PORTFOLIO MANAGEMENT, 

EQUITY OR REAL ESTATE 

(Choose two) 



Advanced Portfolio Management/ 

FINA1-CE9008 (2011–2012) 



Behavioral Economics and Finance 

Theory/FINA1-CE9154 (page 2) 

Exchange Traded Funds: A New 

Investment Vehicle/FINA1-CE9374 

(this page) 

Intermediate Securities Analysis/ 

FINA1-CE9007 (2011–2012) 

Mutual Fund Investing/ 

FINA1-CE9019 (2011–2012) 

Real Estate Financial Analysis I/ 

REFI1-CE9351 

Real Estate Investment Analysis: 

Analyzing the Deal/REFI1-CE9361 

Trends in Private Equity: How Changing 

U.S. Population Demographics Impact 

the Alternative Investment Industry/ 

FINA1-CE9033 (2011–2012) 

Value Investing/ 



PORTFOLIO MANAGEMENT, 

FIXED INCOME (Choose two) 

CDO Basics/ 

FINA1-CE9133 (2011-2012) 

Core Concepts in Asset Securitization/ 


Demystifying Derivatives/ 











FINA1-CE9203 (2011–2012) 




FINA1-CE9246 (2011–2012) 

Using Financial Data Services/ 

FINA1-CE9684 (2011-2012) 


13 



GENERAL INFORMATION 

Professional Certificate 

Programs: Requirements 

and Benefits 

NYU-SCPS professional certificate programs 

provide knowledge and essential 

skills in specific fields and are taught by 

highly qualified faculty with in-depth experience 

in their subject areas. Professional 

certificates are comprised of courses that do 

not carry credit and are not state-reviewed. 

To receive an official certificate, students 

must declare their candidacy before the start 

of the fourth certificate course for which 

they enroll. Certificate candidacy entitles 

students to important new benefits detailed 

on this page. To apply for certificate 

candidacy, use the Application for Certificate 

Candidacy at scps.nyu.edu/certificate. 

There is a nonrefundable one-time $100 

application fee. 

Students are welcome to take as many 

individual courses from a certificate program 

as they wish but will not receive an 

official certificate or be eligible for the 

benefits detailed below unless they apply 

for candidacy. Undeclared students may 

request a transcript showing course completion 

and grades, but that transcript will 

not indicate certificate completion. 

Certificate Candidate Benefits 

• NYU student photo ID, which confers 

the following privileges while students 

are enrolled in course(s) applicable to 

the certificate: 

° Access to NYU Libraries. 

° NYU Computer Store educational 

discount pricing. 

° Access to the Kimmel Center for 

University Life. 

• Invitations to NYU-SCPS events. 

• Access to services through the NYU 

Home website. For more information, 

visit scps.nyu.edu/certificate. 

• Invitations to career workshops and 

related resources. 

• Upon completion of certificate program, 

$100 discount voucher toward an NYU- 

SCPS course (valid for one year). 

Certificate Requirements 

• Certificate declaration is required before 

the start of the fourth applicable course. 

A one-time $100, nonrefundable application 

fee is required. 

• Students have up to four years to complete 

a certificate from initial date of 

registration. 

• An official certificate is available upon 

completion of all courses if an overall 

B average or above is maintained and 

candidacy has been declared. Students 

must request their certificate online at 

scps.nyu.edu/certificate. 

• Certificate candidacy may be revoked if 

academic performance is not maintained. 

• The NYU-SCPS transcript of declared candidates 

will identify certificate completion. 

• Substitution classes require approval of 

the academic department. 

• Certificate candidacy may be revoked if 

student conduct policies are not adhered to. 

• There is a one-time $5 fee for the NYU 

student photo ID card. The card is active 

for the entire semester in which a registered 

student is enrolled in an approved 

certificate course and is deactivated 

when the student is not enrolled in an 

applicable course. 

• Students must satisfy the certificate program 

requirements listed in the Bulletin 

published for the term in which they 

register for the first course toward the 

certificate. 

• Program administrators may authorize in 

writing substitutions of specified courses 

in individual situations (maximum of one 

substitution for a four-course certificate; 

two substitutions for a certificate requiring 

five or more courses). 

• Regular class attendance is required in 

order for a course to be applied toward 

a certificate program. 

• Students may complete more than one 

certificate in a given term but, for administrative 

purposes, each certificate will be 

issued and dated in separate terms. 

• Courses taken at NYU-SCPS may be 

applied to fulfilling the requirements of 

only one certificate program. No transfer 

work or waiver of the total number of 

courses required is permitted. 

• The name printed on the certificate will 

match the name on the student’s NYU 

transcript. 

• Certificates offered through the 

International Institute for Learning 

(IIL) and the Dalton Education certificate 

program in financial planning do 

not require declaration. 

• Approval for exception to any of the above 

requirements must be obtained in advance 

in writing from the program office. 

Certificates are highlighted throughout 

this Bulletin in their respective subject areas, 

where the specific requirements and course 

sequences are outlined. 

A comprehensive alphabetical listing of 

all certificate programs can be found in the 

Bulletin Index. 

Note: Departments may es tablish more 

stringent requirements for their programs. 

Check individual listings for details. 

ID Cards 

NYU-SCPS students enrolled in degree 

or diploma programs and declared professional 

certificate candidates are issued 

NYU photo ID cards. Students enrolled in 

courses, seminars, and conferences, or with 

undeclared status in a certificate program, 

are issued a Building Access Pass that 

provides access to classroom buildings. 

Replacements for lost NYU photo ID 

cards can be obtained at the NYU Card 

Center, 383 Lafayette St. One piece of 

photo ID is required to get a replacement 

card. The fees for replacements are $15 for 

the first replacement; $50 for the second; 

and $75 for the third. 

Information Services 

The NYU-SCPS information line, 

(212) 998-7200, is open Mon.–Thurs., 

9 a.m.–7 p.m.; Fri., 9 a.m.–5 p.m. We 

are available to answer inquiries about the 

School and its programs. If you would like 

to be added to our mailing list for future 

Bulletins, call (212) 998-7200 and leave 

your name and address with a staff member 

or our 24-hour automated attendant. 

You may also obtain schoolwide general 

information or request a Bulletin on our 

website at scps.nyu.edu, or by e-mailing your 

name and address to scpsinfo@nyu.edu. 

Noncredit Changes, 

Withdrawals, and Refunds 

Additions (added courses) to your nondegree 

program may be made by telephone, 

fax, mail, online, or in person. 

Program changes (drop/adds) may be 

made via the Web, in person, or by fax. 

Withdrawals. Students who wish to 

withdraw from, or for any reason find it 

impossible to complete, a noncredit course 

should officially withdraw. Requests to 

withdraw (drops only) from noncredit 

courses can be made online anytime at 

scps.nyu.edu/drop; up until one day before 

the course start date via ALBERT, the 

NYU student information services website; 

by mail, Office of Noncredit Student 

Services, NYU School of Continuing 

and Profess ional Studies, P.O. Box 1206, 

Stuyvesant Station, New York, NY 10009- 

9988; by fax, (212) 995-3060; or in person, 

145 Fourth Avenue (between 13th and 

14th Streets), Room 214. 

Merely ceasing to attend a class does 

not constitute official withdrawal, nor 

does notification to the instructor. 

Cancellation of payment does not constitute 

withdrawal, nor does it reduce indebtedness to 

the University; in this case, a penalty of $25 

for late payment and $10 for stop-payment 

(subject to change without notice) must 

be charged. Students of any other NYU 

school must withdraw from NYU-SCPS 

courses through NYU-SCPS. 

Refund Policy. Refunds are computed 

based on the date and time the written or 

electronic notice of withdrawal is received 

by the Office of Noncredit Student Services. 

In addition, refunds for noncredit courses 

and seminars are based on the number of 

class sessions for the course that have met 

between the time of registration and withdrawal. 

Course withdrawal does not necessarily 

entitle a student to a refund—nor to 

a cancellation of tuition still due. 

The refund schedule is as follows: 

For noncredit courses (containing 

the designation “CE”) and seminars 

(containing the designation “CS”): 

1. Student withdraws prior to the first 

session—100 percent refund. 

2. Student withdraws after one or two 

sessions of a course with six or more 

sessions—75 percent refund. No refund 

thereafter. 

3. Student withdraws after one or two 

sessions of a four- to five-session 

course—60 percent refund. No refund 

thereafter. 

4. Student withdraws after more than 

two sessions of a four-session course— 

no refund. 

5. Student has attended any session 

of a one- to three-session course— 

no refund. 

For seminars that contain the designation 

“CS” and conferences (prefix 

“SCPS”): Procedures and policies for 

refunds vary by department. 

For online courses: Refunds for online 

courses are calculated differently from 

on-site courses. Students are eligible for 

a 100 percent tuition refund if they withdraw 

from the course before the official 

start date. Students are eligible for a 60 

percent tuition refund if they withdraw 

from the course before having logged into 

the course four times or within the first 

two weeks of the course. After the fourth 

login, or the second week, students are not 

eligible to receive any tuition refund for 

courses taken through NYU-SCPS. 

Noncredit Registration Fees 

For noncredit courses that contain the 

designation “CE” or “CS,” the registration 

fee is either $10 or $20, depending on the 

total cost of the course or courses for which 

you apply. If the total of your tuition is $99 

or less, your registration fee is $10. If the 

total of your tuition is $100 or more, the 

fee is $20. The maximum $20 registration 

fee is pay able only once each semester, no 

matter how many times you add courses. 

Regis tration fees are nonrefundable. 

Note: This fee schedule does not apply to 

programs requiring Credit Registration.

R E G I S T R A T I O N F O R M 

Registration, Summer Term, 2011. MAIL TO: SCPS Noncredit Student Services, New York University, PO Box 1206, Stuyvesant Station, 

New York, NY 10009-9988. FAX: (212) 995-3060. Mail and fax registrations are accepted throughout the semester for late-starting courses; 

mail registrations must be postmarked two weeks before the course start date. REGISTER EARLY FOR BEST COURSE SELECTION. 

PRIORITY CODE 

B20 

PRINT NAME (LAST) (FIRST) (MIDDLE INITIAL) 

MR. 

MS. 

HOME ADDRESS (STREET)_________________________________________________________________ 

APT. NO. 

CITY_________________________________________________ STATE___________________ ZIP 

E-MAIL 

HOME TELEPHONE ( )______________________________ WORK TELEPHONE ( ) 

Note: You must provide an e-mail address and/or telephone number so that SCPS can notify you regarding room location or class changes. 

Please check this box if you do not want your e-mail address or telephone number to be used for marketing purposes. 

NYU STUDENT ID NO. BIRTH DATE FIRST ATTENDANCE AT NYU-SCPS 

YES NO 

N 

IF NO, DATE LAST ATTENDED 

HIGHEST EDUCATIONAL LEVEL (CHECK ONE) 

HIGH SCHOOL ATTENDED COLLEGE FOUR-YEAR COLLEGE GRADUATE GRADUATE STUDIES 

COUNTRY OF CITIZENSHIP U.S. OTHER (PLEASE SPECIFY) 

DO YOU PLAN TO PURSUE A PROFESSIONAL CERTIFICATE YES NO FOR NEW CERTIFICATE REQUIREMENTS AND BENEFITS, VISIT SCPS.NYU.EDU/CERTIFICATE. 

WHAT CERTIFICATE ARE YOU PLANNING TO PURSUE 

COURSE/SEMINAR SECTION 

NUMBER NUMBER 

TITLE OF COURSE/SEMINAR (ABBREVIATE) TUITION AND FEES DAYS HOURS 

I ENCLOSE CHECK OR MONEY ORDER FOR TOTAL SHOWN I HEREBY AUTHORIZE USE OF MY CREDIT CARD 

SIGNATURE 

NO. 

NONREFUNDABLE REGISTRATION FEE (see below to calculate)* 

Discover ® CARD MASTERCARD ® VISA ® AMERICAN EXPRESS ® EXPIRES 

MONTH 

YEAR 

TUITION + REGISTRATION FEE=TOTAL 

*Registration fees: $10 on $99 total tuition, $20 on totals of $100 and above (regardless of number of courses for which you are registering). 

Please answer these optional questions about your place of business if you wish to be kept informed of corporate and free events. 

YOUR NAME 

DAYTIME TELEPHONE NUMBER ( ) 

YOUR TITLE 

FAX NUMBER ( )__________________________________ E-MAIL 

YOUR DIVISION OR DEPARTMENT 

TYPE OF BUSINESS________________________________________________________ 

NUMBER OF EMPLOYEES 

COMPANY NAME 

COMPANY ADDRESS 

CITY___________________________________________________________ STATE ______________ ZIP 

DOES YOUR COMPANY OFFER TUITION REIMBURSEMENT 

FULL PARTIAL CHECK ANY RESTRICTIONS THAT APPLY: 

MUST BE JOB-RELATED CREDIT ONLY OTHER 

USE THIS FORM TO REGISTER. 

REGISTER EARLY FOR THE BEST SELECTION OF COURSES: 

WEB 

You can register for courses online at scps.nyu.edu. Online registration requires payment by credit card. Consult the 

inside front cover of this Bulletin for complete information. 

MAIL OR FAX 

1 Use the Registration Form to register for noncredit courses with course numbers that contain the designation 

“CE” and for seminars that contain the designation “CS.” Do not use this form to register for credit courses 

(courses that contain the designation “DC” or “GC”), conferences (prefix “SCPS”), or courses in the American 

Language Institute (ESL courses). 

2 Find the course(s) you want to register for and note: 

• Course title 

• Course number and section 

• Days and hours of the course • Course fee 

Transfer this information to the registration form. 

3 Type or write clearly and make sure you copy your credit card information accurately. 

Mistakes can delay your registration. 

4 Be sure to include your phone number and e-mail address so that we may contact you if there are any questions. 

5 Place the registration form in the postage-paid envelope provided or fax the form to (212) 995-3060. 

TELEPHONE 

1 For your convenience and to have a written record for yourself, fill out the course information section of 

the registration form before you call. 

2 Have your credit card handy. 

3 Note the code in the upper right corner of the registration form; the registration operator will ask you for it. 

4 Call (212) 998-7150 if you know the course you would like to take. If you have questions about course 

curriculum, a certificate, or your registration, please call (212) 998-7200. 

HERE ARE ANSWERS TO SOME 

COMMONLY ASKED QUESTIONS: 

WHAT INFORMATION DO I NEED TO REGISTER BY PHONE 

• Course title, course number, and course section. 

• Your mailing address, e-mail address, and telephone number. 

• Your credit card (Visa ® , MasterCard ® , American Express ® , or Discover ® card). 

WHAT ABOUT LATE FEES 

There are no late fees for noncredit courses. But remember to register early for best course selection and availability. 

HOW DO I DROP OR ADD COURSES 

You may drop a course by mail or in person (145 Fourth Avenue, 2nd Floor, New York, NY 10003); online anytime at 

scps.nyu.edu/drop; and up until one day before the course start date via ALBERT, the NYU student information services 

website (instructions for accessing ALBERT are sent upon registration); or by fax (212-995-3060). Please consult our 

refund policy in the Registration section of this Bulletin for drops made after the start of class. You may add a course 

by fax, online, or in person. 

MAY I USE A COMPANY VOUCHER TO PAY FOR MY CLASS 

Yes, as long as your company does not qualify payment based upon completion of coursework with a passing 

grade. We accept purchase orders, vouchers, and letters of authorization as payment for tuition in credit and 

noncredit courses. Please send the voucher with your registration. 

WHERE CAN I LEARN ABOUT NEW PROFESSIONAL CERTIFICATE DECLARATION REQUIREMENTS 

Our professional certificate programs include new requirements and benefits. Students intending 

to pursue a certificate must declare their candidacy. For details, visit scps.nyu.edu/certificate. 

CAN I CONTACT NYU WITH QUESTIONS BEFORE I REGISTER 

Yes. If you need more information or have questions about a course or certificate, we are available via e-mail 

at scpsinfo@nyu.edu, or by phone (see the General Information section of the Bulletin for contact information).

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