Program Requirements
Students in the Diploma in Finance choose one specialization from the five streams offered that will provide them with advanced knowledge of finance, with emphasis on practical applications of financial concepts. The streams allow students the option to learn about traditional finance areas, such as corporate finance, investment banking and portfolio management; specialized areas, such as risk management, financial planning or treasury finance; and emerging fields, such as sustainable investments and sustainable financial management. Graduates may embark on careers such bank analysts, corporate finance analysts, budget analysts, loan officers, research associates, sales and trading associates.
Note: There is one external prerequisite course to the program, listed below, which must be taken prior to taking certain required courses in the program. Students who wish to apply for advanced standing for prerequisite courses must complete an Advanced Standing form at the time of admission or they may take an Exemption by Examination test.
Prerequisite
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CMSC 101 College Algebra and Functions (3 credits)
Overview
Management Science (CCE) : Linear and quadratic functions, exponential and logarithmic functions, applications. Sequences and series, mathematics of finance. Permutations and combinations. Introduction to probability. Matrices and systems of linear equations.
Terms: Fall 2015, Winter 2016, Summer 2016
Instructors: Chouha, Paul (Fall) Chouha, Paul (Winter) Lau, Hang (Summer)
Prerequisite: CMSC 000 Foundations of Mathematics or Diagnostic Test
Required Courses (15 credits)
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CACC 521 Concepts of Financial Accounting (3 credits)
Overview
Accountancy : This course examines accounting in a finance context, how to prepare, interpret, and make decisions based on accounting information. The course examines the process of recording and reporting accounting transactions, the elements of financial statements, and the preparation of various financial statements.
Terms: Fall 2015, Winter 2016, Summer 2016
Instructors: La Rocca, Gerry (Fall) La Rocca, Gerry (Winter) La Rocca, Gerry (Summer)
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CEC2 532 Business Economics (3 credits)
Overview
Economics (CCE) : Introductory micro and macro economic theory and practice in profit and non-profit organizations from a managerial perspective. Topics include: demand and supply analysis, production costs, firms' pricing and output determination, aggregate demand and supply, national income, output and employment determination, inflation, interest rate, exchange rate determination, fiscal and monetary policies.
Terms: Fall 2015, Winter 2016, Summer 2016
Instructors: Matziorinis, Ken (Fall) Matziorinis, Ken (Winter) Matziorinis, Ken (Summer)
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CFIN 500 Financial Markets and Institutions (3 credits)
Overview
Finance (CCE) : This course will focus on how the three main types of financial institutions, banks, insurance companies, and investment firms, facilitate the flow of funds through the economy. In addition, various financial markets including bond, money, equity, foreign exchange, commodity, and derivatives, are examined.
Terms: Fall 2015, Winter 2016
Instructors: Addas, Amr (Fall) Addas, Amr (Winter)
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CFIN 512 Corporate Finance (3 credits)
Overview
Finance (CCE) : Fundamental finance theory as applied to the firm's short and long-term financing and investment decisions and the sources of funds available to it (stocks, bonds, derivatives). Exposure to critical concepts of "firm value maximization" emphasizing capital budgeting, cost of capital, capital structure, derivatives, dividend policy, risk and return.
Terms: Fall 2015, Winter 2016, Summer 2016
Instructors: Gregoriou, Greg (Fall) Gregoriou, Greg (Winter) Jassim, Raad (Summer)
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CMS2 521 Applied Management Statistics (3 credits)
Overview
Management Science (CCE) : Statistical methods used in a variety of business situations, emphasizing application and providing a working knowledge of the most widely-used techniques. Topics include descriptive statistics; probability distributions; sampling procedures and distributions; inferential statistics including estimation; hypothesis testing and Anova; simple linear, multiple regression and correlation; time series and forecasting.
Terms: Fall 2015, Winter 2016, Summer 2016
Instructors: MacKenzie, Kenneth (Fall) MacKenzie, Kenneth (Winter) MacKenzie, Kenneth (Summer)
Prerequisite: CMS2 500 or the Exemption by Examination Test
Complementary Courses (15 credits)
15 credits from one of the following streams:
Investment Banking Stream
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CFIN 507 Analysis of Financial Statements (3 credits)
Overview
Finance (CCE) : This course addresses financial statement analysis and related topics, including impact on firm valuation of alternative accounting methods, management biases, and stakeholder interests. The course also strengthens and develops analytical skills through real world examples and cases.
Terms: Fall 2015, Winter 2016
Instructors: Susel, Roman (Fall) Zajdman-Borden, Karen (Winter)
Prerequisite: CACC 521
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CFIN 525 Treasury Management (3 credits)
Overview
Finance (CCE) : This course deals with the key aspects of short-term financial management. Describes a framework for decision making followed by a brief introduction to the Canadian banking and payments system from the perspective of the corporate treasurer. Corporate cash planning and forecasting will also be studied, followed by description of collection and disbursement systems in Canada. Strategies for the management of short-term investment and borrowing portfolios are described, including the available instruments for management of interest rate and foreign exchange risk.
Terms: Fall 2015, Winter 2016
Instructors: Abda, Messaoud (Fall) Abda, Messaoud (Winter)
Prerequisite: CACC 521
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CFIN 552 Firm Valuation (3 credits)
Overview
Finance (CCE) : This course provides a comprehensive analysis of alternative valuation models and techniques such as discounted cash flow, and relative and contingent claims valuation methods. These techniques are applied to the valuation of various types of firms such as financial services, start ups, private, distressed firms, and firms with negative earnings.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
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CFIN 553 Corporate Mergers and Acquisitions (3 credits)
Overview
Finance (CCE) : The mergers and acquisitions field is introduced and presentation and research skills for the investment banking or merger arbitrage industries are developed and strengthened. Theory from corporate finance is applied to the analysis of mergers, acquisitions, and related transactions. Methodology for preparation of a job interview product is also presented.
Terms: Winter 2016
Instructors: Wong, Stephen (Winter)
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CFIN 562 Finance and Sustainable Enterprise (3 credits)
Overview
Finance (CCE) : The course will assess the impact of environmental regulations on corporate financial policies, such as capital budgeting and capital structure, their input variables and considerations, corporate governance and Real Options from a binomial decision tree perspective. Time will also be devoted to studying cases of sustainable corporate financial policies.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
Prerequisite: CACC 521
Treasury-Finance and Risk Management Stream
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CFIN 507 Analysis of Financial Statements (3 credits)
Overview
Finance (CCE) : This course addresses financial statement analysis and related topics, including impact on firm valuation of alternative accounting methods, management biases, and stakeholder interests. The course also strengthens and develops analytical skills through real world examples and cases.
Terms: Fall 2015, Winter 2016
Instructors: Susel, Roman (Fall) Zajdman-Borden, Karen (Winter)
Prerequisite: CACC 521
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CFIN 525 Treasury Management (3 credits)
Overview
Finance (CCE) : This course deals with the key aspects of short-term financial management. Describes a framework for decision making followed by a brief introduction to the Canadian banking and payments system from the perspective of the corporate treasurer. Corporate cash planning and forecasting will also be studied, followed by description of collection and disbursement systems in Canada. Strategies for the management of short-term investment and borrowing portfolios are described, including the available instruments for management of interest rate and foreign exchange risk.
Terms: Fall 2015, Winter 2016
Instructors: Abda, Messaoud (Fall) Abda, Messaoud (Winter)
Prerequisite: CACC 521
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CFIN 528 Strategic Asset and Liability Management (3 credits)
Overview
Finance (CCE) : This course examines the essential concepts in Asset Liability Management in banks and insurance companies, focusing on managing risks such as liquidity risk, interest rate risk, credit risk, and operational risk. It also looks at strategic tools to manage these risks.
Terms: Winter 2016
Instructors: Moschella, Jason (Winter)
Prerequisite: CACC 521
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CFIN 550 Analysis of Fixed-Income Securities (3 credits)
Overview
Finance (CCE) : This course addresses investments and trading strategies concerning popular fixed income securities, and risk management of fixed income portfolios. Additional topics include the structure, pricing and risks of securitized products and credit derivatives. Students will also be expected to read and present current research papers in this area.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
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CFIN 595 Derivatives and Risk Management Tools (3 credits)
Overview
Finance (CCE) : This course develops and illustrates the no-arbitrage approach to the valuation of popular derivatives like forwards, futures and options for risk management purposes. Additional topics include an introduction to exotic options, emerging instruments, and the Nobel winning Black-Scholes option pricing model.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
Portfolio Management Stream
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CFIN 515 Behavioural Finance (3 credits)
Overview
Finance (CCE) : The course will introduce various documented psychological biases that impact human behaviour and decision making. These documented market anomalies will be examined and assessed in the context of mean-variance efficiency theory. Typical forecasting errors, expert justifications and continued investor reliance on forecasting models will be examined.
Terms: Summer 2016
Instructors: Lester, Kenneth (Summer)
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CFIN 530 Investment Analysis (3 credits)
Overview
Finance (CCE) : Deals with security analysis and investment techniques covering the different types and classes of securities. The sources of information, methods of compiling statistics, and assessment of comparative values are discussed, together with portfolio objectives and differing philosophies of investment management. Broad economic trends and international political climates affecting security values are analyzed.
Terms: Fall 2015, Winter 2016
Instructors: Jassim, Raad (Fall) Jassim, Raad (Winter)
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CFIN 550 Analysis of Fixed-Income Securities (3 credits)
Overview
Finance (CCE) : This course addresses investments and trading strategies concerning popular fixed income securities, and risk management of fixed income portfolios. Additional topics include the structure, pricing and risks of securitized products and credit derivatives. Students will also be expected to read and present current research papers in this area.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
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CFIN 560 Mutual Funds Finance (3 credits)
Overview
Finance (CCE) : This course examines the entire process of investing in mutual funds, sales of funds, and management of funds including valuation and accounting. Additional topics include the special characteristics of hedge funds, ethical considerations and key regulations for mutual funds.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
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CFIN 595 Derivatives and Risk Management Tools (3 credits)
Overview
Finance (CCE) : This course develops and illustrates the no-arbitrage approach to the valuation of popular derivatives like forwards, futures and options for risk management purposes. Additional topics include an introduction to exotic options, emerging instruments, and the Nobel winning Black-Scholes option pricing model.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
Financial Planning Services Stream
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CCLW 511 Law 1 (3 credits)
Overview
Law (CCE) : Sources and administration of law; the Canadian Constitution and the division of powers; the Quebec Civil Code, comprising the law of persons, the law of property, obligations, contracts, sale, lease and hire, mandate, suretyship, hypothecs and prescription.
Terms: Fall 2015, Winter 2016, Summer 2016
Instructors: Sepinwall, Bernard (Fall) Khadjavi, Hodjat (Winter) Sepinwall, Bernard (Summer)
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CCTX 511 Taxation 1 (3 credits)
Overview
Tax (CCE) : Basic principles of tax law; residence, meaning and computation of taxable income; computation of personal tax; foreign tax credits; capital gains; partnerships; trusts; administration and enforcement; case decisions; Revenue Department bulletins, circulars and rulings; appeals.
Terms: Fall 2015, Winter 2016, Summer 2016
Instructors: Armanious, Joseph (Fall) Armanious, Joseph (Winter) Armanious, Joseph (Summer)
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CFIN 501 Retirement, Estate and Tax Planning (3 credits)
Overview
Finance (CCE) : The objective of this course is to discuss the various elements in the retirement planning process such as pension planning instruments, public and private pension plans, insurance, income tax, estate planning, and wills.
Terms: Summer 2016
Instructors: Triassi, Jack (Summer)
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CFIN 530 Investment Analysis (3 credits)
Overview
Finance (CCE) : Deals with security analysis and investment techniques covering the different types and classes of securities. The sources of information, methods of compiling statistics, and assessment of comparative values are discussed, together with portfolio objectives and differing philosophies of investment management. Broad economic trends and international political climates affecting security values are analyzed.
Terms: Fall 2015, Winter 2016
Instructors: Jassim, Raad (Fall) Jassim, Raad (Winter)
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CMR2 590 Topics in Marketing (3 credits)
Overview
Marketing : Specialized course covering an advanced topic in the marketing area selected from current issues or themes in literature.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
Note: Content will vary from year to year.
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CPD2 505 Risk Management and Insurance (3 credits)
Overview
CPD2 : This course explores the fundamentals of risk management and covers the theory and practices of insurance, policy construction and interpretation for major classes of commercial and personal insurance and emphasizes the importance of decision-making criteria in selecting among various alternatives available.
Terms: Fall 2015
Instructors: Abou-Haidar, Ibrahim; La Rocca, Gerry (Fall)
Sustainable Investment and Financial Management Stream
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CFIN 507 Analysis of Financial Statements (3 credits)
Overview
Finance (CCE) : This course addresses financial statement analysis and related topics, including impact on firm valuation of alternative accounting methods, management biases, and stakeholder interests. The course also strengthens and develops analytical skills through real world examples and cases.
Terms: Fall 2015, Winter 2016
Instructors: Susel, Roman (Fall) Zajdman-Borden, Karen (Winter)
Prerequisite: CACC 521
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CFIN 530 Investment Analysis (3 credits)
Overview
Finance (CCE) : Deals with security analysis and investment techniques covering the different types and classes of securities. The sources of information, methods of compiling statistics, and assessment of comparative values are discussed, together with portfolio objectives and differing philosophies of investment management. Broad economic trends and international political climates affecting security values are analyzed.
Terms: Fall 2015, Winter 2016
Instructors: Jassim, Raad (Fall) Jassim, Raad (Winter)
-
CFIN 552 Firm Valuation (3 credits)
Overview
Finance (CCE) : This course provides a comprehensive analysis of alternative valuation models and techniques such as discounted cash flow, and relative and contingent claims valuation methods. These techniques are applied to the valuation of various types of firms such as financial services, start ups, private, distressed firms, and firms with negative earnings.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
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CFIN 561 Sustainable Investments (3 credits)
Overview
Finance (CCE) : The course addresses the nuances of sustainable investments, how they affect the performance of the respective investment, and how sustainable investments measure up from a risk-return analytical framework. It will take the perspective of investors for optimally allocating capital across various asset classes including classes of sustainable investments.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
Prerequisite: CFIN 500
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CFIN 562 Finance and Sustainable Enterprise (3 credits)
Overview
Finance (CCE) : The course will assess the impact of environmental regulations on corporate financial policies, such as capital budgeting and capital structure, their input variables and considerations, corporate governance and Real Options from a binomial decision tree perspective. Time will also be devoted to studying cases of sustainable corporate financial policies.
Terms: This course is not scheduled for the 2015-2016 academic year.
Instructors: There are no professors associated with this course for the 2015-2016 academic year.
Prerequisite: CACC 521