Lista de disciplinas do MSc em Finanas do MIT

Functional and Strategic Finance

Subject: Finance
Description:

Organized around applying finance science and financial engineering in the design and
management of global financial institutions, markets and the financial system. The
approach is used to understand the dynamics of institutional change and the design of
financial products and services. Also examines the needs of government as user,
producer and overseer of the financial system, including the issues surrounding
measuring and managing risks in financial crises. Develops the necessary tools of
derivative pricing and risk measurement, portfolio analysis and risk accounting, and
performance measurement to analyze and implement concepts and new product ideas.
Applies these tools to analyze aspects of the financial crisis of 2007-2009.

Taxes and Business Strategy

Subject: Accounting
Description:

Subject provides a conceptual framework for thinking about taxes. Applications covered
include mergers and acquisitions, tax arbitrage strategies, business entity choice,
executive compensation, multi-national tax planning, and others. Aimed at investment
bankers and consultants who need to understand how taxes affect the structure of deals;
managers and analysts who need to understand how firms strategically respond to taxes;
and entrepreneurs who want to structure their finances in a tax-advantaged manner.

Management Accounting and Control

Subject: Accounting
Description:

Examines management accounting and related analytical methodologies for decision-

making and control in profit-directed organizations. Product costing, budgetary control
systems, and performance evaluation systems for planning, coordinating, and
monitoring the performance of a business. Defines principles of measurement and
develops framework for assessing behavioral dimensions of control systems; impact of
different managerial styles on motivation and performance in an organization.

Mergers and Acquisitions: The Market for Corporate Control

Subject: Accounting
Description:

Probably the most dramatic events in a corporation's history involve the decision to
acquire another firm or the decision to oppose being acquired. This is also one of the
areas of management most thoroughly documented in the financial press and the
academic literature. Subject explores three aspects of the merger and acquisition
process: the strategic decision to acquire, the valuation decision of how much to pay,
and the financing decision on how to fund the acquisition. Class sessions alternate
between discussions of academic readings and applied cases.

Corporate Financial Accounting

Subject: Accounting
Description:

Preparation and analysis of financial statements. Focuses on measuring and reporting of

corporate performance for investment decisions, stock valuation, bankers' loan risk
assessment, and evaluations of employee performance, for example. Emphasizes the
necessarily interdisciplinary understanding of business. Concepts from finance and
economics (e.g., cash flow discounting, risk, valuation, and criteria for choosing among
alternative investments) place accounting in the context of the business enterprise

Corporate Financial Accounting

Subject: Accounting
Description:

Preparation and analysis of financial statements. Focuses on measuring and reporting of

corporate performance for investment decisions, stock valuation, bankers' loan risk
assessment, and evaluations of employee performance, for example. Emphasizes the
necessarily interdisciplinary understanding of business. Concepts from finance and
economics (e.g., cash flow discounting, risk, valuation, and criteria for choosing among
alternative investments) place accounting in the context of the business enterprise.

Financial Accounting
Subject: Accounting
Description:

An intensive introduction to the preparation and interpretation of financial information.

Adopts a decision-maker perspective of accounting by emphasizing the relation between
accounting data and the underlying economic events generating them. Class sessions are
a mixture of lecture and case discussion. Assignments include textbook problems,
analysis of financial statements, and cases. Restricted to first-year MIT Sloan Master's
students.

Doctoral Seminar in Accounting

Subject: Accounting
Description:
Designed primarily for doctoral students in accounting and related fields. The reading
list consists of accounting research papers. The objective of the course is to introduce
research topics, methodologies, and developments in accounting.

Business Analysis Using Financial Statements

Subject: Finance
Description:

Presents a framework for business analysis and provides students with tools for
financial statement analysis, including strategic, accounting, financial, and prospective
analysis. Concepts are then applied to a number of decision making contexts, such as
credit analysis, company performance assessment, merger analysis, financial policy
decisions, and securities analysis.

Doctoral Seminar: Communication Skills for Academics

Subject: Communication
Description:

Focuses on the communication skills needed for a career in academia. Topics include
writing for academic journals, preparing and delivering conference papers and job talks,
peer reviewing for journals and conferences, and teaching. Participants are expected to
work on a written project and deliver an oral presentation based on their current
research. Restricted to doctoral students who have completed their first year.

Communication for Managers

Subject: Communication
Description:

Writing and speaking skills necessary for a career in management. Students polish
communication strategies and methods through discussion, examples, and practice.
Several written and oral assignments, most based on material from other subjects and
from career development activities. Schedule and curriculum coordinated with
Organizational Processes class. Restricted to first-year MIT Sloan School of
Management graduate students.

Advanced Managerial Communication

Subject: Communication
Description:

Builds on managerial communication skills developed in 15.279 or 15.280. Introduces

interactive oral and interpersonal communication skills important to managers,
including presenting to a hostile audience, running meetings, listening, and contributing
to group decision-making. Includes team-run classes on chosen communication topics.
Also includes an executive summary and a long oral presentation, both aimed at a
business audience, generally in conjunction with a project for another subject.

The Economic and Strategic Analysis of Technology Intensive Industries

Subject: Corporate Strategy and Policy
Description:

15.943 and 15.944 can be taken independently, but are designed to be taken together.
15.944 introduces doctoral students to the extensive literature in the strategic and
economic analysis of technology intensive industries. While it includes a significant
proportion of the material that would be typically included in a subject on the
economics of technological change, it differs by being significantly more focused on the
question of how technological change and innovation both creates and is a response to
heterogeneity among firms, a concern shared across the subjects in the sequence.
Restricted to doctoral students.

Technology Strategy for SDM

Subject: Corporate Strategy and Policy
Description:

Provides a series of strategic frameworks for managing high-technology businesses.

Emphasis on the development and application of conceptual models which clarify the
interactions between competition, patterns of technological and market change, and the
structure and development of internal firm capabilities. Half-term subject. SDM
students only, except with instructor permission.

Technology Strategy
Subject: Corporate Strategy and Policy
Description:

Outlines tools for formulating and evaluating technology strategy, including an

introduction to the economics of technical change, models of technological evolution,
and models of organizational dynamics and innovation. Topics covered include: making
money from innovation; competition between technologies and the selection of
standards; optimal licensing policies; joint ventures; organization of R & D; and
theories of diffusion and adoption. Taught using a combination of readings and case
studies.

Strategy and Organization

Subject: Corporate Strategy and Policy
Description:
How managers build and manage complex organizations to achieve strategic goals.
Develops theoretical frameworks that build on 15.010, 15.311, and 15.900. Applies
these frameworks to corporate strategy (i.e., the design and management of the multi-
business firm) and extended enterprises (i.e., the design and management of multi-firm
structures such as supply chains, alliances, joint ventures, and networks). Half term
subject.

Strategic Management II
Subject: Corporate Strategy and Policy
Description:

Focus on deepening knowledge and skills in strategic management by providing a

pragmatic approach to formulating and implementing corporate, business and functional
strategies. Combines readings in the key works in strategic management with case
studies, lectures, guest speakers, and a research project. Half term subject. Restricted to
Sloan Fellows in Innovation and Global Leadership.

Strategic Management
Subject: Corporate Strategy and Policy
Description:

Focuses on concepts and current issues in strategic management. Provides a foundation

in both modern analytical approaches and enduring successful strategic practices.
Provides technological and global outlook. Covers corporate, business and functional
strategies. Half term subject. Restricted to MIT Sloan Fellows in Innovation and Global
Leadership.

Strategic Management and Consulting Proseminar: Practical Applications

Subject: Corporate Strategy and Policy
Description:

Hands-on experience with strategic analysis and implementation through a semester-

long strategic consulting project. MBA students work in teams as strategic consultants
with a participating company on a real strategic business issue. Projects consist of teams
of four to five students, formed for the purpose of collaborating with a corporate
sponsor in a strategy engagement. Subject devotes most time to working with the
corporate sponsor to solve specific business issues, but also provides instruction in
practical methodologies to use in the strategy consulting engagements. Faculty provide
continuous support to facilitate the progress of the consulting engagements.

Strategic Management and Consulting Proseminar: Current Strategic Challenges for

Global Enterprises
Subject: Corporate Strategy and Policy
Description:

Broad exposure to business matters that affect strategic management and the consulting
industry. Themes based on annual surveys of 150+ top executives in the US and abroad
and address the primary challenges managers face today. Distinguished executives from
globally operating enterprises outline their first-hand view on these issues. Faculty
provides continuous input to subjects being discussed and assists students with their
involvement in class briefings and debriefings to assure continuity of the learning
process.

trategic Management
Subject: Corporate Strategy and Policy
Description:

Explores a wide range of strategic problems, focusing particularly on the sources of

competitive advantage and the interaction between industry structure and organizational
capabilities. Introduces a wide variety of modern strategy frameworks and
methodologies. Builds upon and integrates material from core topics such as economics,
organizational processes, and marketing. Restricted to first-year MBAs.

\Special Seminar in Strategy

Subject: Corporate Strategy and Policy

Description:

Opportunity for group study by graduate students on current topics related to strategy
not otherwise included in curriculum.

Leadership in the Real Estate Industry

Subject: Corporate Strategy and Policy
Description:

Provides theories, concepts and tools to craft, articulate and refine a "leadership point of
view". Through reflection, self-assessment, discussion and feedback, learn about their
readiness to lead, leadership style, emotional intelligence, and presentation of self.
Converse with leaders in the real estate industry and learn from their stories and
insights. Uses theories, concepts and frameworks to analyze, construct and articulate a
"leadership point of view". At the conclusion of the course, students have a deeper
understanding of leadership; a better understanding of themselves and their authentic
leadership style; and a plan for the on-going development of their leadership
capabilities.
Explaining Heterogeneity in Firm Performance
Subject: Corporate Strategy and Policy
Description:

Focuses attention on the sources of heterogeneity in firm performance. Most research in

economics, particularly in industrial organization theory, assumes that firms are
homogeneous in terms of knowledge, production structure, and factor price
environment. Research in the tradition of strategic management, in contrast, focuses
attention on heterogeneity across firms as the primary driver of the nature of
competition and of the sources of firm performance. Subject introduces doctoral
students in strategic management and economics to the evidence for persistent
heterogeneity. Restricted to doctoral students.

Corporate Strategy and Extended Enterprises

Subject: Corporate Strategy and Policy
Description:

How managers build and manage complex organizations to achieve strategic goals.
Develops theoretical frameworks that build on 15.010, 15.311, and 15.900. Applies
these frameworks to corporate strategy (i.e., the design and management of the multi-
business firm) and extended enterprises (i.e., the design and management of multi-firm
structures such as supply chains, alliances, joint ventures, and networks). Half term
subject.

Financial Market Dynamics and Human Behavior

Subject: Finance
Description:

This course develops a new perspective on the dynamics of financial markets and the
roles that human behavior and the business environment play in determining the
evolution of behavior and institutions. Although neoclassical economic theories such as
expected utility maximization, rational expectations, general equilibrium, and efficient
markets have dominated the literature on economic behavior and market structure,
recent advances in the cognitive neurosciences, artificial intelligence, computational
social science, and evolutionary biology provide a number of new insights into market
dynamics. We will draw on these diverse disciplines to develop a more complete
understanding of human behavior in the specific context of markets and other economic
institutions. Academic research will be the main focus of the course, but topics will be
motivated and illustrated by practical applications from financial markets, the hedge
fund industry, private equity, government regulation, and political economy. Using the
ideas from this new perspective, we will formulate several new hypotheses regarding
recent challenges to traditional economic thinking, including: how financial crises are
formed and whether or not they can ever be eliminated; why certain investment
strategies seem to wax and wane; where business cycles come from; what role ethics
plays in financial intermediation; whether capitalism is more sustainable than other
political systems; and why financial engineering may be the solution
Finance Theory I
Subject: Finance
Description:

Core theory of modern financial economics and financial management, concentrating on

capital markets and investments. Required for most finance electives and for the
Financial Management and Financial Engineering tracks. Topics: functions of capital
markets and financial intermediaries; fixed income investments; diversification and
portfolio selection; valuation theory and equilibrium pricing of risky assets; the theory
of efficient markets; and an introduction to derivatives.

Finance Theory II
Subject: Finance
Description:

Continuation of Finance Theory I, concentrating on corporate financial management.

Topics: capital investment decisions; security issues; dividend policy; optimal capital
structure; hedging and risk management; futures markets and real options analysis.

Financial Management
Subject: Finance
Description:

Introduction to corporate finance and capital markets. Topics include: project and
company valuation, real options, measuring risk and return, stock pricing and the
performance of trading strategies, corporate financing policy, the cost of capital, and
risk management. Subject provides a broad overview of both theory and practice.
Restricted to MIT Sloan Fellows in Innovation and Global Leadership.

Intro to Practice of Finance

Subject: Finance
Description:

Seminar exposes students to some of the basic institutions and practices of the financial
industry. Includes panel discussions with representatives from leading financial
institutions, MIT alumni currently engaged in the financial services sector, and leading
industry vendors. Restricted to first-year Finance track MBA students.

Finance Theory (M.Fin.)

Subject: Finance
Description:
Core theory of capital markets and corporate finance. Topics include functions and
operations of capital markets, analysis of consumption and investment decisions of
investors, valuation theory, financial securities, risk analysis, portfolio theory, asset
pricing models, theory of efficient markets, as well as capital budgeting, financing and
risk management decisions of firms. The course provides a theoretical foundation of
finance and its applications.

Restricted to students in the Master of Finance Program.

Introduction to Financial Economics

Subject: Finance
Description:

Foundations of modern financial economics; individuals' consumption and portfolio

decisions under uncertainty; valuation of financial securities. Topics include: expected
utility theory; stochastic dominance; mutual fund separation; portfolio frontiers; capital
asset pricing model; arbitrage pricing theory; Arrow-Debreu economies; consumption
and portfolio decisions; spanning; options; market imperfections; no trade theorems;
rational expectations; financial signaling. Primarily for doctoral students in accounting,
economics, and finance.

Entrepreneurial Finance
Subject: Finance
Description:

Examines the elements of entrepreneurial finance, focusing on technology-based start-

up ventures, and the early stages of company development. Addresses key questions
which challenge all entrepreneurs: how much money can and should be raised; when
should it be raised and from whom; what is a reasonable valuation of the company; and
how funding, employment contracts and exit decisions should be structured. Aims to
prepare students for these decisions, both as entrepreneurs and venture capitalists. In-
depth analysis of the structure of the private equity industry.

Investments
Subject: Finance
Description:

Financial theory and empirical evidence for making investment decisions. Topics
include: portfolio theory; equilibrium models of security prices (including the capital
asset pricing model and the arbitrage pricing theory); the empirical behavior of security
prices; market efficiency; performance evaluation; and behavioral finance.
Options and Futures
Subject: Finance
Description:

Examines the economic role of options and futures markets. Topics: determinants of
forward and futures prices, hedging and synthetic asset creation with futures, uses of
options in investment strategies, relation between puts and calls, option valuation using
binomial trees and Monte Carlo simulation, implied binomial trees, advanced hedging
techniques, exotic options, applications to corporate securities and other financial
instruments.

Advanced Corporate Finance

Subject: Finance
Description:

Advanced topics in corporate finance including complex valuations, static and dynamic
capital structure, risk management, and real options. Considers the asymmetric
information and incentive problems, security design, restructuring, bankruptcy, and
corporate control and governance issues.

Investment Management
Subject: Finance
Description:

The course studies financial markets, principally equity markets, from an investment
decision-making perspective. The course develops a set of conceptual frameworks and
tools, and applies these to particular investments and investment strategies chosen from
a broad array of companies, securities, and institutional contexts. Case studies are
central to the course, and students are expected to prepare each case before class and
participate extensively in class discussions.

Fixed Income
Subject: Finance
Description:

Designed for students seeking to develop a sophisticated understanding of fixed income

valuation and hedging methods, and to gain familiarity with the major markets and
instruments. Emphasizes tools for quantifying, hedging, and speculating on risk. Topics
include duration; convexity; modern approaches to modeling the yield curve; interest
rate forwards, futures, swaps and options; credit risk and credit derivatives; mortgages;
and securitization. 15.437 strongly recommended.
Advanced Financial Economics I
Subject: Finance
Description:

Covers advanced topics in the theory of financial markets with a focus on continuous
time models. Topics include: multiperiod securities markets and martingales; pricing of
contingent securities such as options; optimal consumption and portfolio problems of an
individual; dynamic equilibrium theory and the Intertemporal Capital Asset Pricing
Model; term structure of interest rates; and equilibrium with asymmetric information,
transaction costs, and borrowing constraints. Primarily for doctoral students in
accounting, economics, and finance.

Advanced Financial Economics III

Subject: Finance
Description:

Recent empirical methods in finance, including: the estimation and testing of market
efficiency; the random walk hypothesis; the CAPM/APT; various term structure models;
option pricing theories; and market microstructures; performance evaluation; bond
rating and default analysis; event study methodology; continuous-time econometrics;
and general time series methods. An empirical term project is required. Some
econometric background and rudimentary computer programming skills are assumed.
Primarily for doctoral students in finance, accounting, and economics.

Advanced Financial Economics II

Subject: Finance
Description:

Surveys selected topics in current advanced research in corporate finance. Theoretical

and empirical analyses of corporate financing and investment decisions. Some
background in information economics and game theory is useful. Primarily for doctoral
students in accounting, economics, and finance.

International Finance Corporate Finance

Subject: Finance
Description:

This course addresses issues relating to valuation, risk management, financing and
contractual design for firms operating in international markets. It has a significant
exposure to emerging markets as well. We analyze how risk and cash-flows should be
evaluated in environments with varying levels of risk such as currency fluctuation,
sovereign default, weak property rights etc. We discuss how certain types of risk can be
eliminated or managed through the appropriate design of financial contracts, and how
institutional differences across countries shape the structure and efficacy of private
equity contracts. Other topics covered include firm policy and international tax regimes,
microfinance, and valuing social return. The course ends with a discussion on the
impact of global financial crises on firm financial policy. Finance.

Mergers and Acquisitions

Subject: Finance
Description:

Probably one of the most dramatic events in a corporation's history involve the decision
to acquire another firm or the decision to oppose being acquired. This is also one of the
areas of management most thoroughly documented in the financial press and the
academic literature. Subject explores three aspects of the merger and acquisition
process: the strategic decision to acquire, the valuation decision of how much to pay,
and the execution decision of how to implement the acquisition. Class sessions alternate
between discussions of academic readings and applied cases.

International Finance Capital Markets

Subject: Finance
Description:

Analysis of financial markets and instruments in context of globalization. Currency

market; exchange rate determination; statistical properties of exchange rates. Currency
futures and options. Hedging foreign exchange risk and managing foreign exchange
exposure. Euro-currency market and related derivatives market. International bond
market, swap market, and equity market. Asset allocation and asset pricing in face of
volatile real exchange rates. International portfolio management and performance
measurement.

Analytics of Finance
Subject: Finance
Description:

This course covers the most important quantitative methods of financial engineering and
computational finance. These methods include: (1) static and dynamic optimization; (2)
Monte Carlo simulation; (3) stochastic (It) calculus; (4) financial econometrics; and (5)
statistical inference for financial applications. Each of these techniques will be covered
in some depthalong with its computer implementationhowever, the emphasis will
be on financial-engineering applications, not on methodology. In particular, quantitative
methods are developed within the context of specific problems in financial engineering,
problems that fall into one of the following four areas: (1) derivatives; (2) portfolio
management; (3) risk management; and (4) proprietary trading.
Proseminar in Capital Markets/Investment Management
Subject: Finance
Description:

During the proseminar students will join a team of three to six Sloan participants. The
team will tackle a challenging, "live" project and present a report to the project's
sponsor and to the proseminar. Students will also learn from all the other teams'
presentations. The goals of the proseminar include: provide an unstructured research
exposure to financial engineering students, push the financial engineering frontier by
introducing terrific students to unsolved practical problems, develop students team and
client skills in the financial engineering context, leverage and build the Sloan brand, and
provide practitioners with access to top-notch Sloan talent.

Proseminar in Corporate Finance/Investment Banking

Subject: Finance
Description:

This seminar exposes students to ten problems for analysis which are formulated by
clients." The clients are all prominent in the world of financial management. Some are
from leading investment banks; others are from notable, large public corporations.
Students will analyze their clients actual problems in teams of three to fiveproblems
that on their desks today or may arrive on their desks in the near future. The goals of the
proseminar include: exposure to a wide variety of current financial problems,
opportunities to analyze these problems in far more depth than is possible in a
traditional setting, continue work on presentation skills, and interaction with leaders
from the world of finance.

Analytics of Finance II
Subject: Finance
Description:

Covers the practical aspects of the analytics of finance from the perspective of a
quantitative investment manager. Develops stochastic processes, option pricing,
investment strategies, backtest simulation, data and computational architecture,
portfolio construction, trading implementation, and risk management within the context
of a specific quantitative trading strategy. Study of these topics follows the natural
sequence of research, development, testing, and implementation. Emphasizes financial
applications, but also covers mathematical and statistical techniques in some depth,
along with their computational implementation in software and the use of real-world
market data.

Practice of Finance: Alternative Investments Private Equity & Hedge Funds

Subject: Finance
Description:

Introduction to the field of alternative investmentsprincipally private equity and

hedge fundswithin the context of the larger investment domain. Covers the structure
and operation of alternative funds, valuation, and topics such as deal sourcing, exits,
value added, and alpha strategies. Discusses the evolution of the field as well as what
the future may bring. Summarizes subfields such as venture capital, leveraged buyouts,
distressed investing, and the spectrum of hedge funds. Addresses investor perspectives,
portfolio construction and risk management with alternatives. Encourages active student
participation, and includes a project and reading list.

Retirement Finance, Lifecycle Investing, and Asset Management

Subject: Finance
Description:

Organized around applying finance science and financial engineering in three related
financial activities: retirement finance, lifecycle investing and asset management.
Develops the necessary tools of derivative pricing and risk measurement, portfolio
analysis and risk accounting, and performance measurement to analyze and implement
concepts and new product ideas. It is expected that the student has familiarity with basic
portfolio-selection theory, CAPM, options, futures, swaps and other derivative
securities.

Practice of Finance: Advanced Corporate Risk Management

Subject: Finance
Description:

Focuses on how corporations make use of the insights and tools of risk management.
Taught from the perspective of potential end-users of derivatives (not the dealer), such
as manufacturing corporations, utilities, and software firms. Topics include how
companies manage risk, instruments for hedging, liability management and
organization, and governance and control.

Practice of Finance: Perspectives on Investment Management

Subject: Finance
Description:

This special seminar provides an overview of the investment management industry and
a basic introduction to business fundamentals and valuation. Students will be required to
read several analyst reports, and complete a final paper. Presentations by outside
speakers in the investment management industry will occur throughout the course.
Data Technologies in Quantitative Finance
Subject: Finance
Description:

This course introduces students to financial market data and to data architecture &
design, with applications to financial asset pricing, quantitative investment strategies,
algorithmic trading, portfolio management, and risk management.

International Management
Subject: International Management
Description:

Focuses on the international dimensions of strategy and organization, and provides a

framework for formulating strategies in an increasingly complex world economy, and
for making those strategies work effectively. Topics include the globalization of
industries, the continuing role of country factors in competition, organization of
multinational enterprises, building global networks, and the changing managerial tasks
under conditions of globalization

Global Markets, National Policies and the Competitive Advantages of Firms

Subject: International Management
Description:

Examines opportunities and risks firms face in today's global market. Provides
conceptual tools for analyzing how governments and social institutions influence
economic competition among firms embedded in different national settings. Public
policies and institutions that shape competitive outcomes are examined through cases
and analytical readings on different companies and industries operating in both
developed and emerging markets.