Modern Finance: Course Syllabus

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Course Syllabus Modern Finance I and II
Modern Finance I Professor Adel Turki, Cornerstone E-mail: turki@cornerstone.com Modern Finance II Professor Gordon M. Phillips, University of Southern California E-mail: gordon.phillips@marshall.usc.edu Web: http://www.marshall.usc.edu/faculty/directory/gordonphillips

Biography: Adel Turki is a senior vice president of Cornerstone Research in Washington D.C. He received his Ph.D. from Stanford University. Dr. Turki heads the firm’s securities practice and consults primarily on cases involving derivatives, complex securities, and valuation issues. In addition to serving as an expert, Dr. Turki also consults on economic and financial issues in complex cases and assists attorneys with identifying and supporting experts with specialized expertise in a wide variety of matters. Dr. Turki has published articles on the use of options to value new ventures and on the risk-return tradeoff in projects backed by venture capital. He was on the faculty of Stanford University, Purdue University, and the University of Maryland. Gordon Phillips is a chaired professor at the Marshall School of Business at the University of Southern California (USC). He received his Ph.D. from Harvard University. He specializes in mergers, firm organization, security issuance, and the impact of financial decisions on firms' strategic decisions. He is a research associate at the National Bureau of Economic Research, is an associate editor at multiple finance journals, and has received multiple research grants from the National Science 1

Foundation. Professor Phillips' presentations include a keynote address on PIPEs (private investment in public equity) to an audience of executives and finance professionals. Prior to joining USC, he was Bank of America professor at the University of Maryland. He also has been a visiting professor at Insead, MIT and Duke University. Course Background and Content: Modern Finance I and II are designed to provide the student with an introduction to the field of finance. Non-finance majors will gain an appreciation of the role of financial markets and institutions in the economy as well as an introduction to the responsibilities, concerns and methods of analysis employed by the corporate financial manager.       Some of the main areas that you will become familiar with include:  Techniques for evaluating corporate investments  Valuation of securities, including stocks, bonds and options  Valuation of investment, including company valuation and acquisitions  The risk-return relationship and its implications for finance  Corporate financing alternatives and the design of a company’s capital structure  International joint ventures and introduction to International Finance

Learning Objectives: While you will be exposed to many topics and facts as the course unfolds, we will emphasize that there is a small unifying core of ideas or principles in finance. Understanding these fundamental ideas – and their power and limitations – is what you should aim to take away from this course. Class discussion and participation also counts. You will learn from the cases and class objectives about how to solve and present solutions to common business problems. Your class discussion will reflect your ability to understand what is going on inside the cases. The case studies are placed at the end of a particular topic and are to be used as analytical and discussion tools. The objective in using case studies is to provide examples of companies or individuals that have faced the topic at hand and to apply theoretical tools to real problems. Included in this syllabus are questions and ideas that you may use as guidelines for analyzing the case.

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Course Materials:  Textbook: Modern Financial Management, by Ross, Westerfield, Jaffe, and Jordon, McGraw-Hill. IMPORTANT: Please read the textbook chapters 1, 3, 4, 5 in advance before the first class.  CASE PACKAGE: This will be...
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