Finance and Law, Department of

College of Business and Economics

DEPARTMENT OFFICE

Simpson Tower F717

Phone:  (323) 343-2870

E-mail:           hfang@calstatela.edu

Website:     http://cbe.calstatela.edu

The Department of Finance and Law offers options in business arts-prelegal ,finance, and  real estate for the Bachelor of Science degree in Business Administration.  These options enable students to prepare for finance, real estate, and legal careers. The department also offers Finance options for both the Master of Science (MS) degree in Business Administration and the Master of Business Administration (MBA) degree, designed to enhance career and advancement opportunities for individuals employed in these fields. In addition, the department offers a credit certificate program that is designed for students who are majoring in other fields and would benefit from a background in finance.

The Faculty 

Professors: Maria Kathleen Boss, Jack S. K. Chang, Hsing Fang (Chair), Taewon Kim, Jean Loo, James Refalo, Lifan Wu.

Associate Professors: Jong-Hwan Yi.

Assistant Professor:  Min-Ming Wen.

Emeriti: George N. Engler, Edward A. Nelson, Gordon B. Severance, Gary Steele Watson.

Undergraduate Programs 

Bachelor of Science Degree in  Business Administration with Options in

·     Business Arts–Prelegal

·     Finance

·     Real Estate

A total of 180 units is required for the Bachelor of Science degree in Business Administration with the Business Arts-Prelegal, Finance and Real Estate Options. The BSBA degree with any of these options requires completion of 72 units in BSBA core courses and 28 units in the option. Consult with an adviser for the specific number of units required in all areas of the degree including GE and free electives.

Core Requirements for the Bachelor of Science in Business Administration (72 units)

Select one from the following:

Option Requirements for  Business Arts–Prelegal (28 units)

This option enables students to prepare for legal careers by combining business and humanities courses. The objective of this option is to combine a general business education with option electives that suit individual requirements.  Option electives may be chosen in the humanities and often include reading and writing skills that are important for postgraduate study of law.

Required Courses  (8 units)

Select 20 units with adviser approval.

Option Requirements for  Finance (28 units)

This option develops an understanding of modern finance concepts, strategies, and techniques and prepares students for careers in corporate finance, money management, investment banking, commercial banking, and insurance.

Select Three courses for the following:.

Option Requirements for Real Estate (28 units)

This option prepares students for careers in real estate, and for real estate licensing examinations.  It also prepares students for further study of real estate at the postgraduate level.

Select one course with adviser approval.

Minor in Finance

Required Courses (12 units)

Select two courses from the following:

Certificate in Finance

The Department of Finance and Law offers a credit certificate in Finance that is designed to prepare individuals who hold, or are pursuing, a bachelor's degree in a field other than finance for entry into careers in corporate finance, money management, investment banking, and commercial banking. Students must  complete the required 28-unit program with a minimum 2.0 (C) grade point average to qualify for the certificate.

Refer to the Undergraduate Studies: General Information chapter of this catalog for general regulations governing all certificate programs.

Requirements for the Certificate (28 units)

Select 4 units from the following

Graduate and Postbaccalaureate Programs 

Master of Science Degree in Business Administration with the Option in Finance (45 units) 

This is a specialized degree program that permits  concentration and research in one of several options.

Admission to the Program 

Students must fulfill University requirements for admission to graduate study and must submit a separate graduate program application to the College of Business and Economics. The college admits applicants based on a comprehensive review of their prior education, work experience, GMAT scores, and letters of recommendation. Those without an undergraduate degree in business are required to complete 24 units of Foundations of Business courses listed below for admission to classified graduate standing for the M.S. degree in Business Administration.

The 24-unit requirement can be met either by completing the courses listed below or by submitting transcripts demonstrating that the equivalent subject material has been successfully completed either at the undergraduate or graduate level.  In addition,  competence must be demonstrated in statistics and the use of computers.  The competency requirement can be met by successfully passing competency exams in each area or by submitting transcripts showing that the subject matter has been successfully completed at either the undergraduate or graduate level.

In addition to completing the 24-quarter units of acceptable basic business courses listed above, applicants must have an approved graduate degree program on file in the College of Business and Economics Advisement Center.

Requirements for the Degree  (45 units) 

A total of 45 units is required, with at least 41 units in 500-level courses. 

Finance Option (24 units)

Electives (4 units)

Select 4 units of 500 level courses with approval of adviser.

List of Courses (FIN) - Undergraduate Level

Lower Division Courses 

FIN 203 Law for the Citizen  (4)

Aspects of law affecting personal life: legal system, crimes, torts, contracts, vehicle ownership, home ownership, marriage, divorce, consumer law, employment, checks and promissory notes, and business organizations.  Credit allowed for only one of FIN 203 and 205. 

FIN 205 Legal and Regulatory Environment of Business I (4)

Prerequisite: Sophomore standing.  Introduction to the legal and regulatory environment of business, emphasizing the American legal system, contracts, sales, and related legal issues of international business.  Instruction in computer-assisted legal research.  Credit allowed for only one of FIN 203 and 205.

Upper Division Courses

Upper division standing is prerequisite to enrollment in 300- and 400-level FIN courses. 

FIN 303 Business Finance  (4)

Prerequisite: ACCT 200B.  Principles of planning, procuring, and controlling short and long-term financial resources of businesses; cash and capital budgeting; securities markets, costs of capital, and equity valuation. 

FIN 305 Legal and Regulatory Environment of Business II (4)

Prerequisite: FIN 205.  Legal and regulatory issues facing managers and accountants.  Examination of legal and regulatory issues in employment, business organizations, securities regulation, secured transactions, bankruptcy, and commercial paper.

FIN 325 Essential Skills for Finance Professionals (4)

Prerequisites: ECON 209, FIN 303.  Financial databases; statistical analyses of financial data; software applications in finance; written and oral presentation of group projects in finance.

FIN 331 Financial Institutions and Markets  (4)

Prerequisites: ECON 202, FIN 303.  Bank risk management using an asset/liability approach;  hedging tools including interest rate swaps and other derivatives; deregulation and its impact on finance industry.

FIN 332 Investments  (4)

Prerequisite: FIN 303.   Analysis of risk and return, valuation of stocks and bonds, capital asset pricing model, stock and bond portfolio management, efficient capital markets, evaluation of investment performance, and introduction to options.

FIN 335 Personal Portfolio and Risk Management (4)

Understanding and planning personal finance; managing basic personal assets including financial assets, real assets, insurance, and retirement; extensive analysis of risk management of assets, liabilities and equity in a personal portfolio context.

FIN 338 Real Estate Principles  (4)

Economics of land ownership and use; fundamentals of ownership, financing, appraisal, management, and transfer of residential and other real property. 

FIN 339 Real Estate Practice  (4)

Prerequisite: FIN 338.  Analysis of real estate contracts, agency and brokerage relationships, physical components of real estate, private ownership interests, documents of transfer, escrows, title insurance, recording, and professional licensing. 

FIN 381 Real Estate Law  (4)

Prerequisites: FIN 338, four units of business law.  Legal aspects of real property ownership and management; emphasis on California law affecting escrows, contracts, licensing, brokerage, co-ownership, deeds, conveyances, trust deeds, mortgages, titles, encumbrances, estates in land, and leases. 

FIN 403 Intermediate Business Finance  (4)

Prerequisite:  FIN 303.  Intermediate business financial management emphasizing intensive treatment of valuation, capital asset management, financial structure, sources of funds, and working capital management; combines theory and applications.

FIN 425 Financial Software and Data Banks  (4)

Prerequisites:  FIN 303, CIS 100.  Uses of financial data banks such as COMPUSTAT and Dow Jones News Retrieval;  financial applications of computer software packages such as Lotus 1-2-3 and Javelin.

FIN 429 Estate Planning  (4)

Prerequisites: FIN 205, 303.  Planning, creating, conserving, and transferring individual wealth;  case studies relating to investments, insurance, wills, probate, trusts, estate and gift tax, avoiding probate, and minimizing taxes.

FIN 430 Commercial Bank Administration  (4)

Prerequisite: FIN 303.  Case studies of organization, operation, and policies of commercial banks;  sources and uses of bank funds;  cash and reserve positions, securities and loan portfolios;  utilizes a simulation approach to bank management. 

FIN 431 Multinational Financial Management  (4)

Prerequisite: FIN 303.  Application of principles of managerial finance to international and multinational business;  analysis of risks and problems unique to businesses involved in transnational operations;  international sources and uses of funds. 

FIN 432 Real Estate Management  (4)

Prerequisite: FIN 338.  Management of real property as part of the real estate industry;  nature, functions, scope of management principles, services, property care, tenant relations, and records. 

FIN 434 Cases in Financial Management  (4)

Prerequisites: ACCT 300, FIN 303, BUS 305.  Identifying and solving financial problems through the use of cases.  Applications of financial theory and financial techniques to business problems, using written reports and classroom discussion.

FIN 435 Working Capital Management  (4) 

Prerequisites: ACCT 300, ECON 309, FIN 303.  Decision-oriented, analytical approaches to problems and practices related to, and arising in the course of, financing and managing the acquisition, maintenance, and disposition of working capital assets.

FIN 436 Business Risk Management  (4)

Negligence liabilities and related business risk problems;  workers  compensation, surety and fidelity, crime and peril, and their usefulness as tools of the business risk manager.

FIN 437 Securities Analysis  (4)

Prerequisite: FIN 332.  Investment practice in analysis of financial statements;  selection and valuation of stocks and fixed-income securities, stockholder-management relations, applied securities analysis. 

FIN 438 Real Estate Valuation  (4)

Prerequisite: FIN 338.  Valuation of real property;  economic analysis of trends and factors influencing real estate ownership, development, and use;  current appraisal theory. 

FIN 439 Real Estate Finance  (4)

Prerequisite: FIN 338.  Position of real estate finance in the economy; techniques and procedures used to finance real property, including sources of funds, lending policies, and instruments used in California today. 

FIN 440 Futures and Options  (4)

Prerequisite:  FIN 332.  Market structures, trading techniques, pricing models, hedging strategies, and investment implications for various futures, option contracts, and derivative assets.

FIN 447 Student Investment Fund (4)

Prerequisites: FIN 332, FIN 437; instructor consent. Development of skills through managing real investment funds in the securities markets, including establishing an investment plan, analyzing investment opportunities, making recommendations and trading decisions.

FIN 450 Fixed Income Securities, Analysis and Strategies (4)

Perquisite:  FIN 332. Risk, yield and pricing of fixed income securities, Treasury, corporate, agency, tax-exempt and mortgage-backed markets; term structure, bond indexing, interest rate risk immunization; interest rate options and futures.

FIN 454 Special Topics in Finance  (1-4)

Prerequisite: Varies with topic;  see Schedule of Classes for specific requirement.  In-depth presentation and analysis of topics significant to contemporary business world;  lectures, discussions, speakers, and research projects.

FIN 480 International Business Law  (4)

Prerequisite: Four units of business law.  Legal issues that arise in international trade, licensing, and investment; national and international limitations that influence the movement of goods, labor, and technology. 

FIN 493 Real Estate Investment  (4)

Prerequisite: FIN 338.  Principles of investing in real estate; analytic techniques and economic strategies for maximizing after-tax returns from land, residential properties, shopping centers, and other real estate. 

FIN 494 Financial Management for Small Business  (4)

Prerequisites: ACCT 300, FIN 303.  Principles and practices of financial management for small business; analytic techniques and financial strategies for financing and managing the resources of small businesses efficiently and profitably. 

Graduate Level Courses  (FIN)

Classified graduate standing and approval by the College of Business and Economics Advisement Center are required for admission to all 500-level courses

FIN 500 Business Finance and Law (4)

Law and finance for business organizations: forms of business,  business law, capital markets, analysis of financial statements, securities law, security valuation, bankruptcy, and reorganization. Some sections may be technologically mediated.

FIN 530 Seminar:  Business Finance  (4)

Prerequisite: FIN 500 . Analysis of financial statements and cash flows, financial markets and net present value, risk and return, capital budgeting, capital structure, and divided policy.

FIN 531 Seminar:  Financial Institutions  (4)

Prerequisite: FIN 500 . Role of financial institutions in U.S.; financial management of various types of financial institutions against a background of national income, national policies, and flow of funds.

FIN 532 Seminar:  Estate Planning  (4)

Prerequisite: FIN 500 . Advanced planning for individual financial management; consideration given to legal, financial, and taxation problems, including insurance, investments, trusts, real estate, wills, and related laws. 

FIN 533 Seminar:  International Finance  (4)

Prerequisite: FIN 500. Analysis of institutions, instruments, and procedures used in financing exports and imports, international investments, and multinational business operations. 

FIN 534 Seminar:  Portfolio Management  (4)

Prerequisite: FIN 500 or 303. Portfolio theory, capital market equilibrium (capital asset pricing model and arbitrage pricing theory), asset allocation, capital allocation, fixed-income securities, options and futures, passive and active portfolio management.

FIN 535 Seminar:  Speculative Securities and Markets  (4)

Prerequisite: FIN 500 or 303. Economics and pricing of options and futures contracts and their applications to portfolio management; how proliferation of speculative markets affects efficiency and stability of financial system.

FIN 598 Graduate Directed Study  (1)

Investigation of an approved project leading to written report; project selected in conference with seminar professor, and arrangements made for regular meetings during quarter.  May be repeated for credit.