Provides an understanding of contemporary cash and derivative equity securities and markets. Both investment theory and its practical applications are considered. The primary perspective for most discussions is that of an institutional investor, although applications to personal finance are included. Both U.S. and international equity and fixed-income markets are discussed. Topics include asset allocation, portfolio theory, market efficiency, models of asset pricing, program trading, and equity options and financial futures. Prerequisite: Fourth-year Commerce standing or instructor permission.

Intensive study of the generally accepted accounting principles for asset valuation, income measurement, and financial statement presentation for business organizations, and of the processes through which these principles evolve. Focuses on important areas in financial accounting, including accounting for leases, pensions, and income taxes. Prerequisite: COMM 2020 or instructor permission.

A rigorous introduction to the full field of finance. Students should gain an appreciation of the role of financial markets and institutions in our economy as well as an introduction to the responsibilities, concerns, and methods of analysis employed by corporate financial managers. We focus on the two fundamental aspects of financial decision-making: time value and risk (modern portfolio theory, the capital asset pricing model, and alternatives). The concepts of time value and risk are used to value the two basic financial assets, bonds and stocks, as well as real assets, investment projects, and companies. In addition, the course introduces derivative securities (options, futures) and discusses their application in a wide variety of settings (real options, contingent claims valuation of equity). The course also covers the theory and practice of capital structure decisions (Modigliani and Miller, taxes, bankruptcy costs, asymmetric information, agency) and dividend decisions. The course will include a thorough discussion of market efficiency and an introduction to the field of behavioral finance. A unifying theme of the course is how no-arbitrage conditions and the law of one price can be used to value most financial assets. The emphasis in this course (both in and out of class) will be on problem solving. Prerequisite: COMM 3010, 3020, and 3030.

Analyzes the federal income tax law and its application to business, investment, and personal transactions. Prerequisite: COMM 2020 or Instructor Permission.

In this class you will apply quantitative tools to deconstruct each of the main asset classes, developing a more nuanced understanding of the risks one owns, and to evaluate a managers' returns for delivering those risks. You will also learn how to design and evaluate strategic asset allocations for specific goals through a case evaluating the portfolio of the University of Virginia Endowment.

Foundations of Global Commerce examines the global context of business, the evolution of that context, and the many business implications. The course covers the global macro-economy, application of an analytical framework, and important future trends. In addition to mastering a defined body of knowledge, the course emphasizes conceptual thinking and a commitment to curiosity, critical analysis, active participation and intellectual risk-taking.

The primary objective of this course is to provide a foundational overview of business, including the themes of the history of business, business and society, and innovation. The course will enable students to gage interest in business and prepare students for business-related education, jobs, and careers. THIS COURSE IS A PREREQUISITE FOR THE MCINTIRE SCHOOL OF COMMERCE.

Introduces the American legal system, emphasizing contracts, torts, agency, corporations, and partnerships. May be taken prior to enrollment in the McIntire School.

This course covers corporate valuation and the restructuring of both non-distressed firms (for example, leveraged buyout transactions) and distressed firms. Prerequisite: fourth-year Commerce.

This course provides an understanding of financial reporting issues related to business combinations, inter-corporate investments, consolidated financial statements, corporate restructurings, and international transactions and operations. Understanding the economic substance and impact these issues have upon the financial statements are important for professional accountants and financial analysts. Prerequisite: COMM 3110.