Course Selection Guide For The Finance Major

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Course Selection Guidefor the Finance MajorFinance

FinanceThe Finance Major leads to a wide rangeof exciting career paths, from consultingand entrepreneurship to quantitative riskmodeling. It can be challenging to identifyearly on which path is right for you and whichcourses are most relevant. To help you navigateour rich curriculum of finance courses, thefinance professors have created this guidein partnership with the BCom office, CareerServices, and the Communications team.We have grouped our finance electives intoseven streams. These streams focus on buildingtargeted skillsets such as corporate valuation,sustainable finance, and quantitative modeling.For each of them, you will find a brief descriptionof the stream, the list of most relevant courses,and a gateway to potential career paths thatexploit the acquired skills. The guide alsoincludes a brief description of topics coursesthat are not (yet) on our permanent curriculum,along with a list of key contact people at the end.As you read this guide, please keep in mindthat the purpose is strictly to provide guidance.The streams we propose do not appear on yourtranscript. You are not required to choose aparticular stream to complete your financedegree. In some cases, it may be best to choosecourses across streams if you are looking toacquire a broad set of skills. You should nothesitate to contact us or the BCom officeto further discuss your course selection.Sebastien BetermierAssociate Professor & Area Coordinator, FinanceThis guide is a pilot project and we plan toupdate it on a regular basis as our coursemenu evolves. If you have suggestions, wewould certainly love to hear your feedback .We hope you will find this guide useful as youtailor the course selection to your interests.22McGill Desautels

BCom Finance MajorRequired Courses MGCR 341: Intro to Finance 6 Required Courses (18 credits)FINE 342: Corporate FinanceFINE 443: Applied Corporate FinanceFINE 482: International FinanceFINE 441: Investment ManagementFINE 448: Financial DerivativesMGSC 372: Advanced Business StatsElective Courses 4 Elective Courses minimum (12 credits)We have grouped our electives into seven streams.You are not required to pick a particular stream.CorporateFinance StreamsInvestmentManagement StreamsQuantitativeFinance StreamsEntrepreneurship &Start-up FinancingPortfolio ManagementQuantitative ModelingTradingRisk ManagementCorporate AdvisorySustainable Finance3

Corporate FinanceRecommended CurriculumCorporate finance is about how businessesraise capital and efficiently allocate capitalacross projects. It is a vast division offinance that begins at the start-up stage(entrepreneurship and start-up financing)and then covers all aspects of corporateadvisory for established firms.FINE 434 - Sustainable Finance (C)FINE 434 - Practical Lessons in Venture Capital (E)FINE 434 - Project Finance (C)FINE 442 - Capital Markets & Institutions (C)Entrepreneurship &Start-up Financing Stream (E)FINE 445 - Real Estate Finance (C)FINE 447 - Venture Capital & Entrepreneurial Finance (E)This stream exposes students to the valuation andfinancing of young firms and start-ups. Students gainknowledge about the venture landscape and howfinance fuels technological innovation. Students alsolearn about the different types of financial innovationincluding smart contracts, blockchain, digital payment,and crowdfunding.FINE 449 - Market Risk Models (C)FINE 477 - FinTech for Business & Finance (E, C)FINE 490 - Mergers & Corporate Reorganizations (E, C)ACCT 351Corporate Advisory Stream (C)ACCT 352This stream builds expertise on how to value wellestablished firms. Students learn to use financialstatements in order to make long-term financialprojections. They become knowledgeable about themechanics of corporate transactions such as mergersand acquisitions and the different ways through whichfirms raise funds such as bank loans, bonds, andequity shares. Students also learn about how firms canoptimize their capital structure, prioritize investments,and manage financial risks.ACCT 354(C, 1 course max)ACCT 385Gateway to Career PathsJob positions can be found either in the financefunction of companies or in the financial institutionsthat provide capital to these companies (or adviceon how to access capital), such as banks, investmentbanks, credit agencies, and management consultingfirms. Many other positions can be found in investmentfunds, including pension funds, mutual funds, hedgefunds, real estate funds, insurance companies,infrastructure funds, private equity funds, venturecapital funds, accelerators, incubators, fintech, startups, and technology firms.In addition to pure financial acumen, such careersgenerally require sound accounting, financial analysisand reporting skills, ease with Excel and VBA formodeling purposes, good synthesis and problem-solvingabilities, strong communication skills, and work ethic. BCom career portal - Finance4

Investment ManagementRecommended CurriculumInvestment management is about howindividuals and institutions invest theirwealth across assets. It is another vastdivision of finance that we split into threestreams. The portfolio management streamfocuses on the development of investmentstrategies across asset classes. The tradingstream centers on the mechanics of financialmarket transactions. The sustainable financestream studies how financial investmentscan address climate risks and contribute tothe development of sustainable economicactivities and projects.FINE 434 - Sustainable Finance (S)FINE 442 - Capital Markets & Institutions (P)FINE 444 - P rinciples & Strategies of SecuritiesTrading (T)FINE 445 - Real Estate Finance (P)FINE 446 - Behavioral Finance (P)FINE 449 - Market Risk Models (P)FINE 451 - Fixed Income Analysis (P)Portfolio Management Stream (P)FINE 452 - Applied Quantitative Finance (P, T)This stream builds knowledge about i) the differentasset classes available to investors,including stocks,bonds, derivatives, and real estate, and ii) the differenttypes of investors. Combining their knowledge of assetclasses and investment objectives, students learn howto identify good investment opportunities and developstrategies for managing large and complex portfolios.FINE 456 - Trading in Financial Securities (P, T)FINE 464 - P ension Funds & Retirement Systems (P, S)FINE 477 - Fintech for Business & Finance (S)FINE 541 - Applied Investments (P, T, S )Trading Stream (T)This stream trains students in the intermediation sectorof financial markets. Students learn about the skillsetsrequired to work on a trading floor and gain knowledgeabout the behind-the-scenes of financial markettransactions.Gateway to Career PathsSeveral job positions are found on the trading andresearch desks of securities firms. Many other positionsare found in wealth advisory services firms andinvestment funds such as pension funds, mutual funds,hedge funds, real estate funds, insurance companies,infrastructure funds, and private equity firms.Sustainable Finance Stream (S)This stream trains students in how to integrateenvironmental, social, and governance criteria intobusiness and investment decisions. Students learnabout how finance can contribute to the developmentof sustainable economic systems.Beyond having a solid understanding of theoreticalfinance, the investment manager needs to be curiousand keen to learn about economics, trends, andvarious sectors and business models. Strong research,analytical, and synthesis skills are sought along withcomputer and financial modeling abilities. Somepositions also require decisiveness and sales abilities.In all cases, communication and the ability to workwith others are important. BCom career portal - Finance5

Quantitative FinanceRecommended CurriculumQuantitative finance is a growing divisionof finance that is concerned with themeasurement and evaluation of financialdecisions from a data-driven perspective.It combines knowledge of statistics, datascience, and mathematical finance to extractinformation from financial data (quantitativemodeling) and assess the risks of corporateand financial investment strategies(risk management).FINE 435 - R for finance (Q, R)FINE 444 - P rinciples & Strategies of SecuritiesTrading (Q)FINE 449 - Market Risk Models (R)FINE 451 - Fixed Income Analysis (Q, R)FINE 452 - Applied Quantitative Finance (Q, R)Quantitative Modeling Stream (Q)FINE 460 - Financial Analytics (Q)This stream provides a formal training to apply financialtheories to observable data. By employing statisticsand data-science, the quant modeler aims at improvingfinancial decisions based on hard evidence. The skillsacquired from this stream can be applied to a widevariety of problems, from real-time portfolio performanceassessment to the prediction of business failures.FINE 541 - Applied Investments (R)Risk Management Stream (R)This stream specializes in the quantitative assessmentof the various sources of risk underlying financialinvestments. From the measurement of crash andvolatility risks in financial markets to the creation of newrisk metrics, the risk manager formulates strategies thatensure the soundness of financial portfolios.Gateway to Career PathsJob positions are found primarily in securities firmsand investment funds, particularly hedge funds.A growing number of positions can also be found inmanagement consulting firms, banks, and insurancecompanies, especially in the field of risk management.In addition to financial knowledge, the skillsmost valued are those related to mathematicsand computation. On the mathematical side,advanced calculus, linear algebra, and statistics arerequired. On the computational side, knowledgeof programming software is highly valuable.Communication skills and the ability to work withothers are also important. BCom career portal - Finance6

Further descriptionof topics coursesEvery year we offer several topics courses that complement our permanent course offerings.Here is a brief description of the topics courses that will be offered in 2021-22, along witha note about the Advanced Finance Seminar course that does not fit in the 7 streamspresented earlier.FINE 434 - Sustainable FinanceFINE 435 - R for FinanceSustainability has become one of the major trends infinance. This course explores the challenges related tothe integration of sustainability considerations suchas environmental, social and governance (ESG) topicsby key financial players. Students will also learn how toconduct a sustainability analysis for a company in aninvestment context.This course equips students with programming skills(in the widely used software “R”) needed to putfinance theory into practice. From the perspectiveof a quantitative fund manager, students developprogramming skills to implement and evaluatequantitative trading strategies based on underlying‘factor risks.’FINE 434 - Project FinanceFINE 547 - Advanced ResearchSeminarProject finance is the financing of long-terminfrastructure and industrial projects based uponthe projected cash flows of the project. This courseintroduces students to the latest techniques in projectfinance.This course is a research-oriented course for studentsin the Joint Honours in Economics & Finance programand those interested in pursuing a research project oftheir own. Students attend the weekly research seminarseries together with finance professors and then workon a research project of their own, supervised by afaculty member.FINE 434 - Practical Lessons inVenture CapitalDespite the massive amount of venture capital financingthat has fueled innovation, this industry is still relativelynascent, mysterious, and closed off. It is difficult tohave a true understanding of how VC firms makeinvestment decisions, work with founders, and helpscale companies. It takes an insider to expose studentsto the inner making of this industry. This course is acollaboration between such an insider and the professorteaches the Venture Capital course at Desautels.7

Course ChecklistCorporate FinaceInvestment ManagementQuantitative FinanceECPTSQRMGCR 341Introduction to Finance FINE 342Corporate Finance FINE 434Sustainable FinanceFINE 434Practical Lessons inVenture Capital FINE 434Project Finance FINE 435R for Finance FINE 441Investment ManagementFINE 442Capital Markets& InstitutionsFINE 443Applied CorporateFinanceFINE 444Principles & Strategiesof Securities TradingFINE 445Real Estate FinanceFINE 446Behavioural FinanceFINE 447Venture Capital &Entrepreneurial Finance FINE 448Financial Derivatives FINE 449Market Risk ModelsFINE 451Fixed Income Analysis FINE 452Applied QuantativeFinance FINE 456Trading in FinancialSecurities FINE 460Financial AnalyticsFINE 464Pension Fund &Retirement SystemsFINE 477Fintech for Business& Finance FINE 482International Finance FINE 490Mergers & CorporateReorganizations FINE 541Applied Investments 8

For Additional InformationFirstStepIf you have questions about course selection, yourfirst step should be to contact the BCom office andschedule an appointment with an Advisor. Contact the BCom officeCathy YeeKatrin TinnBCom Career CoachFinanceAssistant Professor of FinanceCorporate Finance Area Mentor Contact Coach Contact MentorAnisha GhoshGuillaume RousselletAssociate Professor of FinanceInvestment Management Area MentorAssistant Professor of FinanceQuantitative Finance Area Mentor Contact Mentor Contact Mentor9

Desautels Faculty of ManagementMcGill UniversityBronfman Building1001 Sherbrooke Street WestMontreal, QuebecH3A inessfor change

Finance The Finance Major leads to a wide range of exciting career paths, from consulting . Job positions can be found either in the finance function of companies or in the financial institutions . of finance that is concerned

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