CATALOG - University of Maryland University College

COURSE DESCRIPTIONSENVM 670 Seminar in Environmental Management (3)A capstone study of environmental management that integratesknowledge gained in previous study for the solution of environmentalmanagement problems encountered in industrial, commercial,institutional, and military organizations. Focus is on managementguidelines, such as ISO 14001, that provide an organizational frameworkfor developing an environmental management system that canbe integrated with other management requirements to help organizationssupport environmental protection in balance with socioeconomicgoals. Case studies are used to illustrate applications ofenvironmental management systems to various types of organizations.The capstone project requires assessment of the efficiency and effectivenessof an environmental management system at an organizationand the development of recommendations for improvement.FIN (Financial Management)FIN 610 Financial Management in Organizations (3)(Formerly ADMN 631. For students in an accounting or financialmanagement specialization or program.) Prerequisite: MGMT 640.An investigation of financial management theory and applicationsin business, government, and not-for-profit organizations. Discountedcash flow and rate-of-return analysis are used to evaluateprojects and financial instruments. Discussion covers the role ofthe cost of capital and the capital asset pricing model (CAPM) incapital investment analysis and selection. Capital budgeting, capitalstructure analysis, break-even analysis, scenario analysis, sensitivityanalysis, real options, short-term financial management, and internationalfinance are introduced.FIN 615 Financial Analysis and Modeling (3)(Formerly ADMN 632.) Prerequisite: FIN 610. An explorationof how financial managers use financial modeling, analysis, andresearch to build forecasts and projections, evaluate financial alternatives,and support financial decision making in both operationaland strategic contexts. Models are developed using Microsoft Excel;exercises and extended case studies are utilized to interpret andemploy results. Topics include financial statements and ratio analysis,cash flow forecasting, operations budgeting, breakeven andleverage analysis, time value of money applications, and capitalbudgeting and risk assessment.FIN 620 Capital Markets, Institutions, andLong-Term Financing (3)(Formerly ADMN 633.) Prerequisite: FIN 610. An explorationof the long-term capital needs of an organization and the roles ofthe capital markets and institutions. Topics include the financialenvironment of organizations, the role of the Federal Reserve andfinancial intermediaries, capital and money markets, options andfutures markets, the capital budgeting decision process, capitalstructure management, dividend and share repurchase policy, andinvestment banking and restructuring. Various types of long-termfunding sources—including term loans, derivatives, debt and equitysecurities, and leasing—are analyzed. Alternate policies with regardto financial leverage, capital structure, dividends, and the issuanceof preferred stock, warrants and convertible debt are evaluated.Mergers, leveraged buyouts, and divestitures are examined asspecial situations to create value.FIN 630 Investment Valuation (3)(Formerly ADMN 634.) Prerequisite: FIN 610. An in-depth explorationand application of valuation models to support managerialdecision making in a strategic framework. The theory, concepts,and principles underlying the valuation of firms, business/productlines, and mergers and acquisitions are addressed using extendedexercises and applications. The discounted cash flow model is usedas a tool. Discussion covers the financial drivers of value, includingassessing and determining risk, competitive advantage period, andsales and earnings growth estimates. Other valuation techniquesusing earnings, revenues, and price/earnings multiples are also discussedand applied in selected examples.FIN 640 Multinational Financial Management (3)(Formerly ADMN 639.) Prerequisite: FIN 610. A study of financialmanagement issues in multinational organizations. Topicsinclude the environment of international financial management,foreign exchange markets, risk management, multinational workingcapital management, and foreign investment analysis. The financingof foreign operations, international banking, and the role offinancial management in maintaining global competitiveness arealso considered.FIN 645 Behavioral Finance (3)Prerequisite: FIN 630. A study of the key psychological obstaclesto value-maximizing behavior and steps that managers can taketo mitigate their effects, using the traditional tools of corporatefinance. Focus is on understanding the underlying factors andprocesses that result in nonoptimal decision making by financialmanagers. Topics include perceptions about risk and reward andfinancial decision making in the areas of valuation, capital budgeting,capital structure, dividend policy, agency conflicts, corporategovernance, and mergers and acquisitions. Readings and exercisesexplore the psychological basis of nonoptimal decision makingfrom the perspective of the individual investor.88GRADUATE CATALOG | 2008–2009