Records and Registration

Spring 2005 Courses Offered By Stern School of Business

Course ID Drop/ Add
Call #
Title Faculty Cr Stern Schedules
55876 Gbl Persp Hist Ent Smith, G. 1.5 ** To determine meeting days times for all classes see:

** To determine classroom assignments for all classes see:

*** To determine exam dates for all classes see:

55877 Telecomm Econ & Digital Convergence Economides, N. 3.0
55878 Investment Banking Froewiss/
55879 Topics in Corp. Fin. Allen, W.
55880 Venture Cap Fin Smith, R. 1.5
55882 New Vent Fin Ljungqvist, A. 3.0
55883 New Vent Fin Ljungqvist, A. 3.0
55884 Global Bk Corp Mkts Smith, R. 3.0
55885 Women in Bus Ldr. Wellington, S. 3.0
In addition to these courses, Law of Business Investment Banking and Restructuring Firms and Industries in the Corporate and Commercial Law area are cross-listed with Stern.

Registration begins December 1- and ends January 28

Course Descriptions

B30.2190.20 Global Perspectives on Enterprise Systems - Smith
Prerequisite: B01.1301, Firms & Markets or equivalent. 1.5 credits
This course compares the emergence and development of four of the world’s leading enterprise systems – Great Britain, Germany, Japan, and the United States. It examines political, cultural, and economic similarities and differences of successful wealth-creating societies, paying special attention to impacts of government, entrepreneurship, management, and financial institutions. The objectives of the course are to develop an understanding of different enterprise systems and to hone abilities to think comparatively, both over time and across national contexts.

B30.2345.30 Networks, Telecommunications, Economics and Digital Convergence - Economides
Prerequisite: B01.1301, Firms & Markets or equivalent. 3 credits
This course analyzes the economics of networks, telecommunications, and related industries, including cable television. It is an in-depth study of the economics of monopoly and oligopoly as applied to network industries, including telecommunications markets and the Internet. Studies strategic interactions in network industries. Analyzes a firm’s decision whether to provide products that are compatible with those of competitors or to engage in technical standards wars such as VHS or Beta in video players; Window vs. Mac vs. Linux in operating systems for PCs; or MP3 vs. WMA vs. Real/Audio in digitized music. Studies the evolution of the telecommunications industry, paying special attention to the crucial antitrust intervention that resulted in the 1984 breakup of AT&T and to the reform attempted by the Telecommunications Act of 1996. Analyzes the current wave of mergers and consolidation in the industry from the perspective of “digital convergence” and predicts the framework and direction of industry change. Discusses antitrust and public policy issues in network industries, focusing on the Microsoft antitrust case.

B40.2334.30 Investment Banking - Froewiss/Murphy
Prerequisite: B01.1303, Foundations of Finance or equivalent. 3 credits
This course presents a broad overview of the role of investment banking in modern societies. What functions are performed? How are these tasks carried out in competitive and noncompetitive environments? Topics covered include concepts such as origination, syndication, distribution of security issues, pricing of new issues and the management of issues in the aftermarkets; and the role of investment bankers in restructuring industry, financing government, and facilitating saving and investment. Ethical issues investment bankers must face are considered.

B40.3160.30 Topics in Corporate Finance – Corporate Governance - Allen
Prerequisite: B01.1303, Foundations of Finance or equivalent.. 1.5 credits
Much, perhaps most, of the productive capacity of the global economy is owned within the corporate form. Why? Moreover in the U.S. once these enterprises achieve significant since, the typical and almost universal pattern is for them to attract risk capital through the device of (regulated) securities. Why this method of capital allocation? Finally, how do those who supply risk capital to these enterprises (and others who make investments in them) receive reasonable assurance that the enterprises in which their savings are invested will be operated soundly? This course will provide materials to enable students to fashion answers to these and related questions. While we will acknowledge the ways in which markets themselves provide certain assurances to investors, the principal focus of the course will be upon legal infra-structure: legal duties and legal enforcement mechanisms that attempt to supply this assurance and the shortcomings of these mechanisms.

B40.3173.30 Venture Capital Financing - Smith
Prerequisite: B01.1303, Foundations of Finance or equivalent. 1.5 credits
This course provided institutional background and details necessary to deal with the venture capital and new issues markets. Examines basic valuation issues, appropriate capital structure, the value of liquidity, and the value of control. Also considers the intangible aspects of entrepreneurship and venture capital forms of financing.

B40.3373.30 New Venture Financing – Ljungqvist ( teaching: one afternoon section, one evening section)
Prerequisite: B01.1303, Foundations of Finance or equivalent. 3 credits
This is a full-term course that focuses on financing entrepreneurial companies, especially start-up and early-stage ventures. Investing in such ventures is characterized by very high degrees of uncertainty and complex asymmetries of information between investors and the entrepreneur which can lead to misalignment of incentives and conflicts of interest. The twin aims of the course are for students to learn how to make investment decisions in these situations (i.e. which opportunities to pursue and which to pass up) and how to structure the terms of the investment in such a way as to cope with uncertainty and reduce conflicts of interest arising due to asymmetries of information. The first aim requires you to master tools for screening investment opportunities in the absence of much ‘hard’ financial data. The requisite ‘opportunity recognition’ tools mainly draw on finance, strategy, and the economics of industrial organization. A good example is the importance of barriers to entry for achieving sustainable profit margins. The second aim requires you to develop an understanding of contract and deal design. For instance, deals are often structured in such a way as to make the valuation paid by the outside investor contingent on the subsequent performance of the venture (using options etc.). At the end of the course, you should be able to demonstrate that you can make intelligent investment decisions regarding highly risky entrepreneurial ventures, and can structure investments with a view to incentivizing and motivating the entrepreneur while minimizing the investor’s downside risk.

B40.3387 Global Banking and Capital Markets - Smith
Prerequisite: B01.1303, Foundations of Finance or equivalent. 3 credits
This course is an analysis of the competitive performance and strategic positioning of financial institutions in multinational capital markets. Market segmentation theories are applied to markets for syndicated lending, trade finance, and project financing. Considers international aspects of raising capital in multinational, mulitregulatory settings. Examples may include mergers and acquisitions, joint venture capital projects, and government or private partnership projects.

B65.2300.30 Women in Business Leadership - Wellington
Prerequisite: B01.1302, Managing Organizations or equivalent. 3 credits
This course explores the issues of women in management with a focus on the barriers and success factors that enable women to achieve their maximum potential as business leaders. It also explores the strategies that organizations can undertake to develop a more diverse and creative pool of leadership talent. It analyzes the historical, ethical, and legal implications inherent in the exclusion of women from power positions; reviews empirical and anecdotal data involving women in corporate leadership; and uses “real-life” experiences of successful women executives to create a broader appreciation of the benefits of advancing women in business.