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Tutorials and Thought Leadership

 

Tutorial Overview

The Hughey Center’s primary purpose is to support our world class faculty and students.  One of the ways we accomplish this job is to provide coursework tutorials. These tutorials are designed to prepare students to utilize the Trading Room software to successfully complete their course projects.   With two monitors at each workstation, students can access tutorials and financial technology simultaneously. Each tutorial is comprised of two distinct sections: a description of the software functionality, and an application of the resource (such as screening for investment-worthy securities in FactSet Universal Screener or conducting sensitivity analysis using Palisades@Risk software).  In addition, we also complement our Bentley coursework by offering self-paced certifications on Bloomberg, Factset and Morningstar products.

 

Interview Research Tutorials and Thought Leadership Sessions

The Hughey Center for Financial Services prides itself on effective collaboration across multiple academic disciplines and advisory services.  One of our leading partnerships is with Bentley’s globally ranked Career Services Office.  At Bentley University, each students is assigned a Career Services Advisor to help with internship and career planning.  The Hughey Center supports these efforts by providing Interview Research Tutorials and Thought Leadership Sessions throughout the academic school year.

 

Interview Research Tutorials

Bentley students are made fully aware that an extremely important part of the interview process is gathering company information, in order to be knowledgeable about each firm on the interview schedule. The Interview Research tutorial offered in the Hughey Center Trading Room prepares students for interviews by teaching them to use a variety of different resources in order to gather key pieces of data.  Information available to students includes: company information, industry information, product/service offerings and promotion techniques. In order for students to access this information, a number of programs will be utilized including: Thomson One Analytics, FactSet, Bloomberg, Morningstar, as well as many other resources to help students optimize their interview preparation efforts.

 

Thought Leadership Sessions

Along with financial software training to prepare students for interviews, the Hughey Center for Financial Services, in partnership with our Career Services Office, offers additional on-campus seminars such as: Investment Banking Panel discussions, Careers in Financial Services, Internships on Wall Street, Alumni Speaker Series, Hedge Fund Start Ups, Bulge Bracket Firm Information Sessions, etc.

 

Following is a list of courses that utilize the Hughey Center Trading Room for course-related project work:

 

UNDERGRAD COURSES:

 

GB 112: Tools and Concepts in Accounting and Finance

Every Bentley student, regardless of intended major, is required to utilize the Trading Room during Freshman Year for GB112.  This first course in the General Business core curriculum allows students to take a look at every aspect of starting and running a company.  The primary objective of this course is to provide a foundational understanding of accounting and finance concepts and tools. The course takes students from double-entry accounting to an elementary understanding of how to construct financial statements. GB112 introduces the use of these statements as the basis for ratio analysis and budgeting. Students begin their study of the basic time value of money concepts that are the foundation for basic valuation techniques for both financial securities and projects valuation.  

 

The Hughey Center Trading Room partners with our Bentley faculty to provide students with a comprehensive project tutorial that allows students to analyze a company from an industry standpoint and then dive deeper into the specific components of the company. When looking at a specific company, through the use of such programs as FactSet and Bloomberg, students are able to look at the structure and strategy of a company and analyze the company’s financials.

 

GB 212: Practice and Applications in Accounting and Finance

The second level of the General Business core curriculum (required course for all Bentley students) introduces students to the fundamentals of accounting and accounting principles. Throughout the course, students learn the basics of financial statement analysis. This Hughey Center Trading Room Tutorial utilizes FactSet to fully examine a company through fundamental analysis. Students will analyze companies by researching financial statements, news, and other company data. Along with FactSet, students will access professional opinions and earnings estimates through the Thomson One Analytics software. The knowledge gained through this tutorial will help determine reasoning for buying, holding, or selling an assigned company.

 

GB 410: Global Strategy

Global strategy focuses on the role of the general manager or top management team in formulating and implementing short and long-term business and corporate level strategies. In business, strategy is formulated in a multi-faceted, international environment of social, political, economic, and legal entities. In global strategy students will be analyzing the internal and external environments of the organization, formulating recommendations with respect to actions firms can take to enhance firm-level performance and sustainable competitive advantage, and suggesting ways in which those actions can be implemented which recognizing the critical long and short-term implications of their recommendations for the total enterprise.

 

EC454: College Fed Challenge

The intent of EC454 is to expose selected students to a rigorous exploration of advanced macroeconomic and monetary economics concepts with a special emphasis on the conduct of monetary policy by the Federal Reserve. During the semester, students will read chosen articles, write policy briefings and make policy oriented presentations. All aspects of the course will emphasize teamwork. The culminating experience of the course will be participation in the College Fed Challenge. The CFC is a prestigious competition sponsored by the Boston Federal Reserve System. Teams from area colleges make presentations to a panel of judges made up of economists from the Boston Fed.

 

FI 305: Principles of Accounting and Finance

This course serves as the gateway to the majors of: “Finance”, “Economics & Finance” and “Corporate Finance & Accounting”. An overview of financial statements and approaches to financial statement analysis are covered first, followed by the basics of valuation and the management of working capital. Specific topic areas include time value of money, risk and return, valuation of financial securities, estimating the cost of capital, working capital management and financial planning and forecasting.  During their time in the Hughey Center Trading Room, students will use Factset, Bloomberg and Excel extensively to complete course projects.

 

FI 306: Financial Markets and Investments

This course introduces students to important topics in bond, equity and options markets. To this end, the course focuses on issues surrounding the nature and functioning of these markets and the key models used in valuing securities that are traded on them. Students will enhance their understanding of how these markets operate to establish asset values by engaging in exercises in the Trading Room.

Through the use of FactSet, Bloomberg and Microsoft Excel students will learn how to choose securities based on universe and statistical parameters. They will then calculate key statistics based on this new portfolio (such as Beta) to see how the relationship of the portfolios components work with each other and if reallocation (or weighting) is needed.

 

FI 307: Advanced Managerial Finance

This course builds on materials covered in FI 305. Topics covered include capital budgeting under uncertainty, capital structure and payout policy, investment banking and public offerings of securities, lease financing and hybrid securities, mergers, acquisitions and other forms of corporate restructuring, bankruptcy and liquidations, and an introduction to derivative securities and corporate risk management. Course pedagogy includes the use of cases to bridge the gap between finance theory and real-world applications.

 

FI 312: Advanced Topics in Investments

Topics covered include in-depth treatment of modern portfolio theory - attitudes toward risk, derivation of portfolio models, and applications using active and passive approaches. Other topics include bond portfolio strategies, options pricing and financial futures.   Trading Room tutorials will include extensive training on financial software tools including Bloomberg and Factset to complete Valuation project.

 

FI 320: Financial Markets and Investments

Introduces students to important topics in bond, equity and options markets. To this end, the course focuses on issues surrounding the nature and functioning of these markets and the key models used in valuing securities that are traded on them. Students will enhance their understanding of how these markets operate to establish asset values by engaging in exercises in the Trading Room.

 

FI 331: Capital Markets

Presents the organization and operation of U.S. and international financial markets. Emphasizes factors influencing interest rates, including inflation, risk and term to maturity. Discusses the supply of, and demand for, funds from various economic sectors. Includes the current functioning of money and capital markets as providers of liquidity, short-term credit, long-term investment capital, and assets for hedging against adverse price and interest rate movements. Also discusses foreign exchange and Eurocurrency markets. Topics of current interest included.

GI 335: Derivatives

This course is an intensive introduction to derivatives. The course will enable you to achieve a detailed understanding of the pricing of forwards, futures, swaps and options and an appreciation of their many uses in the real world. The mathematical requirements of the course include very basic statistical methods and a little calculus. The course will stress intuition and practical applications such as trading, capital preservation and risk management strategies. We will use the trading room extensively. Those of you who do well in the course will be well on your way toward understanding the material in the derivatives sections of the three CFA exams.

 

FI 347: Financial Modeling

Financial Modeling is an advanced elective focused on applying sophisticated Excel techniques to the most common modeling problems in finance. First, the skill set is expanded to include advanced features of Excel including TVM and statistical functions, array manipulation, text and date usage, regression, conditionals, Boolean operators, data tables and random number generation. Subsequently the course will cover macro recording as well as custom subroutine and function construction in the Visual Basic for Applications (VBA) development environment. All techniques learned will be applied to the most common financial modeling problems of the day including present value, cost of capital, financial statement forecasting, valuation, portfolio theory and options. Lectures will not only discuss the Excel application and relevant financial theory, they will also cover topics such as linear algebra, programming style, enhanced readability, reuse and large-scale deployable model development.

 

FI 351: International Finance

Surveys systematically the theory of international finance, international investing and international business. Areas covered include foreign exchange with emphasis on exchange rate determination, exchange risk, hedging and interest rate arbitrage, international money and capital markets and international financing, multinational capital budgeting and the cost of capital.

 

FI 372: Mergers and Acquisitions

Mergers and Acquisitions is an advanced finance course which is designed to examine various aspects of corporate mergers, acquisitions and other changes in control of a company. The course will discuss such matters as the strategy and rationale for such transactions, corporate governance, valuation, structuring, due diligence, private equity and leveraged buyouts and the seller's perspective in a transaction. Other topics will include a discussion of alternatives to mergers and acquisitions such as joint ventures and licensing, as well as a discussion of post-merger integration.

 

FI 380: Advanced Managerial Finance

This course builds on materials covered in FI 305. Topics covered include capital budgeting under uncertainty, capital structure and payout policy, investment banking and public offerings of securities, lease financing and hybrid securities, mergers, acquisitions and other forms of corporate restructuring, bankruptcy and liquidations, and an introduction to derivative securities and corporate risk management. Course pedagogy includes the use of cases to bridge the gap between finance theory and real-world applications.

 

FI 392: International Project Finance

The course relies on a case-study approach to an increasingly important field that requires excellent financial management skills. We provide an overview of project finance employing the latest techniques for structuring transactions, including risk mitigation by financial intermediaries. Students will be introduced to substantial research data and informational resources. The course stresses decision making and prioritization of tasks, policy formulation, the selection of world-class partners and on-the-ground operational skills necessary to ensure timely completion of construction, budget adherence and efficient start-up. Large investment projects across a variety of geographic regions, industrial sectors, and stages of project execution are examined, including relevant data on default and loss characteristics. We will contrast the important differences in risk between domestic and export sector projects, including management of foreign exchange issues and the role of host gov.

 

GRADUATE LEVEL COURSES

 

FI 623: Investments

This course provides fundamental knowledge in key areas of investments. In particular, the course will focus on portfolio theory, asset pricing, equity valuation, fixed income valuation and risk, and option pricing and strategies.

 

FI 635: Fixed Income Valuation and Strategies

Covers the pricing of fixed income securities, examining topics such as bond mathematics, term structure of interest rates, repurchase agreement market, pricing of default risk in the context of high yield corporate bonds, foreign exchange risk in the context of foreign currency denominated bonds, and pricing pre-payment risk in mortgage-backed securities. More advanced topics include the tools and their application under realistic assumptions in the real world, application of duration and convexity under realistic yield curve assumptions, risk and return in the high yield bond market and related structured products, option-adjusted spread modeling in mortgage backed securities pricing, the mortgage derivatives markets, and foreign currency denominated bond investment. Requires econometric analyses that involve using the resources of the Trading Room. Assigned readings include journal articles from applied academic finance journals and research reports from Wall Street firms.

 

FI 640: Equity Valuation

Teaches students to value equity securities, starting with the top-down approach and industry analysis/forecasting. Examines valuation theory, models and applications. Students analyze the IPO process to gain a detailed understanding of equity market operation, issues that affect these markets and where they are headed. More advanced topics include the implications of financial statements on cash flow and risk, the exploration of valuing distressed or bankrupt companies, closely held firms, and venture capital situations. Requires extensive use of applied academic journals, the financial media, and resources available in the Trading Room.

 

FI 645: Derivatives

Provides materials and projects that will allow students to develop a detailed understanding of the design, mechanics and pricing of derivative securities in risk management. The concept of the law of one price will be stressed and includes the application of the tools and inputs (quantitative techniques as developed in ST 625) necessary to value derivative securities. The mathematical requirements of the course are primarily algebraic, but the student will also need to rely on statistical methods and some calculus. Please note that this is not a survey course. It is an intensive introduction to derivative securities pricing and market mechanics.

 

FI 650: Advanced Portfolio Theory and Practice

This course will provide the students with the issues, techniques and methodologies associated with constructing and evaluating portfolios. The course will use material from ST 625, including both statistics and calculus, to analyze issues such as diversification, optimal portfolio selection, capital market theory and application, performance evaluation, efficient markets, and behavioral finance, among others. The course will also address ethical issues and the professional code of conduct as it relates to portfolio management.

 

FI 735: Mergers and Acquisitions

Studies mergers and acquisitions, both as a growth strategy and as a means of increasing the market value of the firm. Students develop the skills to scan the environment for potentially attractive targets, and thereafter, to determine the terms of a merger. Through the case analysis method, students test pre-merger conditions against post-merger facts to form judgments about the soundness of a given merger. Accounting treatment of mergers, as well as the role tax and antitrust laws, is studied.

 

FI 751: International Financial Management

Deals with the international aspects of corporate finance and investing. Areas covered include foreign exchange with emphasis on exchange rate determination, exchange risk, hedging and interest arbitrage, international money and capital markets and international financing, multinational capital budgeting, cost of capital and international portfolio management.