The area of finance, over the past two decades, has evolved into a highly focused and specialized field of study. To prepare our students for success, our faculty have designed a curriculum based on the requirements put forth by the Global Association of Risk Professionals (GARP) and the Certified Financial Analyst (CFA) Institute.
Niagara University’s master of science in finance provides students with a rigorous, advanced study focused on corporate finance and investments.
Offered through Niagara's Faculty of Business Administration, the 42-credit hour program features 14 courses, and can be completed over a four semester period with evening and Saturday classes.
- Four prerequisite classes may be transferred in for candidates with high-performing undergraduate degrees in business.
- Ten core classes provide a thorough foundation in the field of finance.
- Students completing the program will be qualified to work at banks, investment management, and consulting firms.
Block 1 | Business Foundation Courses*: 12 Credit Hours
Foundation courses for students who did not primarily study business as an undergraduate.
This course covers fundamental concepts and procedures of financial and management accounting for business decisions. Financial accounting provides information primarily for external decision makers such as investors, creditors, suppliers, and government agencies. Management accounting serves the needs of managers to fulfill organizational objectives. Case studies will illustrate accounting and ethical issues. Topics include generally accepted accounting principles, international accounting standards, financial accounting procedures, financial reporting, inventory and depreciation methods, and cost analysis. Three (3) Credit Hours
This course covers the basic tools of economic analysis. The microeconomic component of the course examines decision making by the individual economic unit, addressing such topics as demand and supply, price and output determination, cost behavior, profit maximization, and competition. The macroeconomic component examines models to explain: national output, inflation, and unemployment; and how fiscal and monetary policies stabilize the economy. Three (3) Credit Hours
The course focuses on: (1) graphical and arithmetical description of data; (2) the use of computer software in solving statistical problems; (3) the theory of probability; (4) probability distributions and sampling distributions; and (5) estimation and hypothesis testing. Three (3) Credit Hours
This course takes the perspective of the corporate financial manager attempting to pursue strategies that increase shareholder wealth. Basic tools necessary for analyzing and interpreting financial data will be developed. In FIN 641 we will emphasize the corporate investment decision (how firms should spend money). Topics in FIN 641 include: financial statement analysis, financial planning, measuring value, pricing bonds and stocks, the relationship between risk and return, cost of capital and capital budgeting. Three (3) Credit Hours
Block 2 | Finance Core: 21 Credit Hours
Classes that provide conceptual integration of accounting, economics, finance, and financial management
This is an advanced core course in strategic accounting, which focuses on the interpretation and analysis of accounting information for business decisions. This course will provide an introduction to the field of business that assists to interpret both financial and non-financial information to effectively manage an organization. Case studies and special projects will be used to illustrate strategic decision processes. Topics include financial statement analysis, financial modeling, cash flow, budgeting, total quality management, activity-based management, target costing, job order costing, process costing, variable costing and transfer pricing. Three (3) Credit Hours
Econometrics The objective of this course is to prepare students for empirical work in economics. Specifically, topics covered will include basic data analysis, regression analysis, testing and forecasting. Students are provided the opportunity to use economic data to test economic theories. We will utilize computer software in all facets of our approach. This is believed to be a more applied course ultimately knowing the limits of software packages and what theories mean for empirical analysis will be stressed. Three (3) Credit Hours
FIN 615 focuses on how assets, securities, and firms are valued in capital markets. We broaden the valuation techniques developed in financial principles classes and apply these methods to a range of financial data and assets. The course provides skills in valuation modelling used in other finance courses. Three (3) Credit Hours
Prerequisites: FIN 610
This is an advanced course emphasizing capital market theory, risk management, and financial planning. Through study of the theory and case discussion, the course applies many of the analytical techniques studied in FIN 610. Three (3) Credit Hours
Prerequisites: FIN 610
This course deals with the theories, analysis, and management of fixed income and equity securities in a global capital market. The emphasis is on the application of finance, economics, accounting and statistics to the valuation of the aggregate stock market, alternative industries, asset pricing models, and portfolio management. Three (3) Credit Hours
The focus of this course is on the international financial environment in which business firms operate and in which financial service providers compete. Attention is given to foreign direct investment, risk analysis, capital budgeting, international banking and portfolio analysis. In addition, advanced topics such as international taxation, currency, and interest rate risk management. The material presented will assist in the understanding of global management, international banking operations, and international financial institutions. Three (3) Credit Hours
This course is an introduction to the analysis and use of derivative securities, such as options, futures, forwards and swaps. Topics covered will include arbitrage, Binomial and Black Scholes pricing models, quantifying and managing the risks faced by each of these organizations, including interest rate risk, credit risk, liquidity risk, market risk and foreign exchange risk. For each of these risks specific tools and techniques to manage these risks are examined and tested, such as asset liability matching, securitization, forwards, futures, swaps, caps, floors and collars. Three (3) Credit Hours
This course is designed to give students a comprehensive review of the advanced topics in auditing and attestation; the general business environment; regulation, including tax and business law; and financial accounting and reporting. The course is intended for students who plan to pursue a career in public accounting. Students are required to complete CPA exam practice problems according to a rigorous schedule. Instructors will lecture on research methods, contemporary accounting issues, strategies for passing the CPA exam. A fee is required for a user license for a CPA exam review program. Three (3) Credit Hours
This course is a comprehensive review of the structure, function and operation of financial institutions. Its focus is primarily with commercial banks, savings banks, investment banks, hedge funds, insurance passing the CPA exam. A fee is required for a user license for a CPA exam review program. Three (3) Credit Hours