Courses - Spring 2027
BUFN401
Option Theory and Derivatives
Credits:
3
Grad Meth:
Reg, P-F, Aud
Prerequisite: BUFN400.
Restriction: Must be in Computational Finance (#BU04) minor.
Will introduce Option Theory and the concept of a derivative financial contract whose value is based on some underlying asset, e.g., a stock or bond or commodity. Option theory based pricing models are a cornerstone of modern finance. Unlike the Capital Asset Pricing Model (CAPM) that determines an appropriate rate of return, option theory primarily relies on arbitrage arguments, and the probability that an option will be exercised during some time interval. Option theory has been very successful empirically. Common derivative types include stock and bond and index options, futures contracts, forward contract and swaps.
BUFN403
Capstone Computational Finance Projects
Credits:
3
Grad Meth:
Reg
Prerequisite: CMSC320; and (BUFN401 or BUFN402; or permission of the Computational Finance Minor faculty directors).
Restriction: Must be in the Computational Finance (#BU04) minor.
This is a semester-long capstone project to be completed by student groups. The projects will range from academic research projects (co-mentored by a finance or computer science faculty member) or an industry focused project (co-mentored by an industry coach). Each project must address an interesting real world challenge faced by a researcher, an analyst or a financial regulator. The project would ideally use a real dataset. Teams can create their own datasets or re-purpose existing datasets. There will be credit given to teams who create or curate their own datasets. The project should apply methodology based in machine learning, information / data management, including NLP and text analytics. The project must include a visual analytics component so that the results from the project can be presented and explained to the user.
BUFN660
Derivative Securities
Credits:
2
Grad Meth:
Reg
Prerequisite: BUFN610.
Restriction: Must be in one of the following programs (Business and Management (Master's); Business and Management (Master's)) ; or permission of BMGT-Robert H. Smith School of Business.
Credit only granted for: BUFN660, BUFN726, BUFN761 or BUFN773.
Formerly: BUFN761.
Introduces standard derivative contracts, including forwards and futures, swaps, and options. Covers the mathematical foundation of valuing derivative contracts, the use of static and dynamic replication strategies, and the concept of no-arbitrage. Derivative securities on various underlying assets (equities, indices, commodities, foreign exchange, etc.) are analyzed using different application contexts.
BUFN670
Financial Mathematics
Credits:
2
Grad Meth:
Reg
Restriction: Must be in Business and Management (Master's) program; or permission of BMGT-Robert H. Smith School of Business.
Introduction to the mathematical models used in finance and economics with emphasis on pricing derivative instruments. Topics include elements from basic probability theory, distributions of stock returns, elementary stochastic calculus, Ito's Lemma, arbitrage pricing theory, and continuous time portfolio theory. Particular focus is on the financial applications of these mathematical concepts.
BUFN710
Financial Strategy for Corporations
Credits:
2
Grad Meth:
Reg
Prerequisite: BUFN610; or permission of BMGT-Robert H. Smith School of Business.
Restriction: Permission of BMGT-Robert H. Smith School of Business; or must be in Business and Management (Master's) program.
Credit only granted for: BUFN751 or BUFN710.
Formerly: BUFN751.
An advanced course in corporate finance, focusing on the issues that firms face when they plan to raise external capital from financial markets. The focus is on the financing problems faced by mid-market to large firms and on capital raised from public markets. The forms of external finance vary from simple debt or equity to more complex securities that bundle with an element of risk management.
BUFN712
Financial Restructuring
Credits:
2
Grad Meth:
Reg
Prerequisite: BUFN610.
Restriction: Permission of BMGT-Robert H. Smith School of Business; or must be in Business and Management (Master's) program.
Credit only granted for: BUFN712 or BUFN752.
Formerly: BUFN752.
Focuses on identifying ways to increase firm value through corporate restructuring. Specific topics include: mergers and tender offers, spin-offs, carve-outs, divestitures, takeover defense strategies, leveraged buy-outs, and international acquisitions. Additionally, the theory, practice and empirical evidence related to each of these topics will be covered. Emphasis will be placed on valuation analysis and strategic considerations.
BUFN717
Entrepreneurial Finance and Private Equity
Credits:
2
Grad Meth:
Reg
Prerequisite: BUFN610.
Restriction: Permission of BMGT-Robert H. Smith School of Business; or must be in Business and Management (Master's) program.
Credit only granted for: BUFN755 or BUFN717.
Formerly: BUFN755.
An advanced topics course in Corporate Finance. The major emphasis is how financiers help growing firms - and in particular young start-ups - using different types of securities at different points in the industry's and firm's life. Financing arrangements and securities studied will include private equity funds and private financings placements, Venture Capital (VC) and preferred equity, Investment Banks through Initial Public Offerings (IPOs), Private equity finds, debt and leveraged buyouts. Students will learn additional techniques that will help them understand how financiers value firms and how to understand, plan and value different financing strategies.
BUFN730
Advanced Financial Modeling and Equity Analysis
Credits:
2
Grad Meth:
Reg
Prerequisite: BUFN610.
Restriction: Permission of BMGT-Robert H. Smith School of Business; or must be in Business and Management (Master's) program.
Credit only granted for: BUFN760 or BUFN730.
Formerly: BUFN760.
Provides in-depth analysis of public equities, with a focus on financial statement analysis, financial forecasting and ultimately valuation. Students will apply the primary valuation techniques used in industry to estimate market values for equities. Additionally, students learn how to stress test their financial models and interpret outcomes.
BUFN744
Fixed Income Derivatives
Credits:
2
Grad Meth:
Reg
Prerequisite: BUFN610; and BUFN732.
Restriction: Must be in Business and Management (Master's) program; or permission of BMGT-Robert H. Smith School of Business.
Credit only granted for: BUFN765 or BUFN744.
Formerly: BUFN765.
Surveys fixed income assets and related securities such as Exchange-traded bond options; bonds with embedded options; floating rate notes; caps, collars, and floors; floating rate notes with embedded options. Also surveys advanced tools for interest-rate and fixed-income portfolio management, including the use of derivative securities, and the application of binomial trees for analysis of options, and a sound understanding of stochastic yield curves.
BUFN745
Financial Programming
Credits:
2
Grad Meth:
Reg
Prerequisite: BUFN650.
Restriction: Must be in Business and Management (Master's) program; or permission of BMGT-Robert H. Smith School of Business.
Credit only granted for: BUFN758E or BUFN745.
Formerly: BUFN758E.
This course introduces basic and innovative statistical modelling methods for financial markets, and equips students with analytical and programming tools for modelling and analyzing financial data. Examples of applications include portfolio management and risk management.
BUFN746
Enterprise and Credit Risk Management
Credits:
2
Grad Meth:
Reg
Prerequisite: BUSI640; and BUFN740.
Restriction: Must be in Business and Management (Master's) program; or permission of BMGT-Robert H. Smith School of Business.
Surveys the theory and practice of credit risk identification, measurement and mitigation along with understanding the principles of enterprise risk governance and risk-adjusted returns. The course examines how to develop credit loss distributions via Monte Carlo simulation or copula methodologies for consumer assets such as mortgages, credit cards and auto loans, developing commercial loan scorecards for rating credit risk. Pricing and use of various credit structures such as credit default swaps, collateralized debt obligations and credit-linked notes is examined.
BUFN758C
Special Topics in Finance; Climate Modeling and Analytics Tools
Credits:
2
Grad Meth:
Reg
BUFN758F
Special Topics in Finance; Corporate & Public Policy Issues in Finance
Credits:
2
Grad Meth:
Reg
BUFN758J
Special Topics in Finance; Carbon Accounting and Financial Disclosures
Credits:
2
Grad Meth:
Reg
BUFN758L
Special Topics in Finance; FinTech and Cryptocurrency
Credits:
2
Grad Meth:
Reg
BUFN758T
Special Topics in Finance; Portfolio Analysis, Investment Strategies and Climate
Credits:
2
Grad Meth:
Reg
Cross-listed with BDBA848C. Credit only granted for BDBA848C or BUFN758T.
BUFN758X
Special Topics in Finance; Market Microstructure
Credits:
2
Grad Meth:
Reg
BUFN758Z
Special Topics in Finance; Global Equity Fund
Credits:
2
Grad Meth:
Reg
BUFN759
Independent Study in Finance
Credits:
1 - 6
Grad Meth:
Reg
By Department Permission Only.
Flagship Institution of the University System of Maryland
University of Maryland, College Park, MD 20742, USA
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