This class covers an introduction to macroeconomics and trade economics; a discussion of monetary and fiscal policy in the context of global capital and goods markets; a discussion of capital and trade flows and their determination of the real exchange rate; a discussion of the real and nominal factors in the determination of currency exchange rate movements; a discussion of currency crises.
FINA 4522, Options in Corporate Finance, Undergraduate
This course first discusses basic financial options, and the essential valuation tool: the binomial option pricing model; then it discusses the continuous extension, the Black-Scholes formula; it then discusses valuation of corporate securities with options embedded, such as warrants, convertible, callable and putable bonds; then it discusses real options, the valuation of options to delay, expand, and abandon an investment; finally, it discusses risk management through options.
This class covers and introduction to macroeconomics, a discussion of money, monetary policy; a discussion of nominal and real exchange rates; a discussion of international investment and financing decisions of corporations; a discussion of exchange rate regimes; of policy coordination across countries; of optimal currency areas; and an evaluation of the functioning of global capital markets.
FINA 8812, Corporate Finance I, PhD
This class is an introductory course to corporate finance research. It discusses basic models and classic papers in different areas. First it discusses the theory of the firm and contract incompleteness; second it discusses The Modigliani-Miller Theorem and the Trade-Off Theory of Capital Structure; Third it discusses Agency Costs and their Relationship to Capital Structure; Then it discusses Security Design and Optimal Contracts; Fourth, it discusses investment in the context of corporate finance; Sixth, it discusses Financial Constraints and Financial Intermediation; Lastly it discusses Corporate Finance in the context of Product Market Competition.
1. Most of learning is really about learning a language
I believe that a large fraction of knowledge can be thought of as a language. Therefore I believe one learns best by interacting one's knowledge with that of others, by talking, reading and writing. I think talking about a subject is a necessary step in grasping it completely. In terms of my classes, this means that I ask students to discuss the class topics with their peers and out-loud in the classroom. It is also the rationale for having reading assignments.
2. The "Socratic Method"
I believe one learns best by confronting a question or problem first and attempting to obtain one's own solution or perspective. In other words, I ask students to make an effort to come up with their own answers and thoughts before I present the accepted knowledge.
3. Each Person Learns Differently
I believe there are different perspectives from which to approach a subject and different learning styles across students. I try to enrich the class by presenting contrasting views and approaches to each course topic. Often I will present material that serves to create intuition rather than being the object of study in itself.
4. You Need to Know What Kind of Knowledge You are Learning
I believe one learns best if one knows what kind of knowledge one is trying to learn. Is it an abstract theory? A technical method? An argument in a discussion? For this reason, I often describe the nature of what I'm presenting along with the actual material.
5. Student Should be Responsible for Their Learning
I believe that to some extent my role as a teacher is to be a resource for the students. This means that I expect students to students make an active effort to exploit that resource, either by requesting explanations, suggesting material, or otherwise modifying the class in a way that helps them learn.