Business

Fall 2000

Advanced Undergraduate Lecture Courses

Business W3001x. Introductory finance. 3 pts. C. Kullmann. W 6:10-8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
Prerequisite: an introductory course in economics and a firm grasp of high school algebra. Prerequisite or corequisite: an introductory accounting course such as Economics W2261. Those without such a background should first take Economics W1105 plus one of the following: Mathematics W1003, or Statistics W1001 or W1111 Mathematics proficiency must be demonstrated through the Mathematics Placement Examination administered during registration in 508 Lewisohn. How assets are priced in financial markets, where assets are viewed, most generally, as claims to future income streams. Applications to stocks, bonds, entire companies, etc. Notions of the present value of a cash flow, systematic risk, capital structure, and Miller-Modigliani Theory are emphasized. Consideration of leveraged buyouts, mergers, stock repurchases. Introduction to options and futures. Lectures, problems.

Business W3003x. Corporate finance. 3 pts. R. Mesznik. Th 6:10-8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
Prerequisites: one accounting course (Economics W2261 or the equivalent) and one course in finance (Business W3001 or the equivalent). Students with substantial and relevant professional experience in financial institutions may be able to meet the demands of this course without a previous finance course. An exploration of the central concepts of corporate finance for those who already have some basic knowledge of finance and accounting. This case-based course considers project valuation; cost of capital; capital structure; firm valuation; the interplay between financial decisions, strategic consideration, and economic analyses; and the provision and acquisition of funds. These concepts are analyzed in relation to agency problems: market domination, risk profile, and risk resolution; and market efficiency or the lack thereof. The validity of analytic tools is tested on issues such as highly leveraged transactions, hybrid securities, volatility in initial public offerings, mergers and acquisitions, divestitures, acquisition and control premiums, corporate restructurings, sustainable and unsustainable market inefficiencies, etc. Unlike other undergraduate business courses, this course may be counted toward the economics major or concentration by Columbia undergraduates.

Business W3008x. Options and futures. 3 pts. A. Maddaloni. W 6:10-8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
Prerequisites: Business W3001, W3003, or the equivalent; Statistics W1001 or W1111; Mathematics V1101 or V1111. The evaluation of derivative securities--securities whose value is fundamentally dependent upon the value of some underlying asset. About 80 percent of the course focuses on options, with the remainder focused on futures and forward contracts. For each of these instruments, the goal is to understand how the instrument is priced in a competitive securities market and how it is used to manage portfolio risk and/or to facilitate the execution of complex corporate transactions. These uses are in part illustrated in the context of three case discussions/presentations.

Business W3010x. Managing human behavior in the organization. 3 pts. R. Kopelman. M 6:10- 8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
An introduction to and overview of major concepts of management and organization theory concentrating on understanding human behavior in organizational contexts, with heavy emphasis on the application of concepts to solve managerial problems. Behavioral issues at the individual, group, and systems levels. Lectures, discussions, case studies, simulations, and small group exercises.

Business W3020x. Introduction to marketing and marketing management. 3 pts. K. Jedidi. M 6:10-8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
No previous background in marketing is required for the course. Introduction to the basic concepts of marketing. Students develop an understanding of, and the decision-making capabilities for, formulating marketing strategies for the complex situations that characterize real-life marketing problems.

Other Courses of Instruction Applicable to the Business Careers Initiative Certificate

See page 17 for detailed information about the Business Careers Initiative.

Introductory Undergraduate Courses

Statistics W1001x. Introduction to statistical reasoning. 3 pts. V. H. deòla Peña. TuTh 10:35-11:50.
Available to SSP, SMP, BCI, PSY.
Total tuition: credit $2,750*
Prerequisite: some high school algebra. Friendly introduction emphasizing conceptual understanding and applications. Topics include design of experiments, data collection and graphical display, probability and modeling, normal curve and its approximations, linear regression, confidence intervals, hypothesis testing, computer use for data management. Examples drawn from several areas, including medical studies, genetics, political science, population surveys, economics, legal studies, business, and physics.

Mathematics V1101x. Calculus IA. 3 pts. Sec. 1: J. Loftin, MW 9:10-10:25; sec. 2: J. Loftin, MW 11-12:15; sec. 3: T. Jürgensen, MW 1:10-2:25; sec. 4: S. Paul, MW 2:40-3:55; sec. 5: L. Jensen, MW 4:10-5:25; sec. 6: J. Achter, TuTh 9:10-10:25; sec. 7: Instructor to be announced, TuTh 10:35-11:50; sec. 8: J. Achter, TuTh 11-12:15; sec. 9: D. Zare, TuTh 2:40-3:55; sec. 10: Y. Kanter, TuTh 4:10-5:25; sec. 11: Instructor to be announced, TuTh 5:40-6:55 evening.
Available to SSP, SMP, BCI.
Total tuition: credit $2,750*
Prerequisite: see Courses for First-Year Students, above. Functions, limits, derivatives, introduction to integrals. The Help Room on the 3rd floor of Milbank Hall (Barnard College) is open during the day, Monday through Friday, to students seeking individual help from the instructors and teaching assistants.

Economics W1105x. Principles of economics. 4 pts. Sec. 1: P. Desai, MW 11-12:15; sec. 2: S. Weissman, MW 5:40-6:55 evening.
Available to SSP, SMP, BCI.
Total tuition: credit $3,072
How a market economy determines the relative prices of goods, factors of production, and the allocation of resources, and the circumstances under which it does these things efficiently. Why such an economy has fluctuations and how they may be controlled.

Statistics W1111x. Introduction to statistics, A. 3 pts. Sec. 1: A. Gelman, TuTh 10:35-11:50; secs. 2-7: Instructors to be announced, sec. 2: MW 10:35-11:50; sec. 3: TuTh 6:10-7:25 evening; sec. 4: MW 6:10-7:25 evening; sec. 5: TuTh 1:10-2:25; sec. 6: MW 1:10-2:25; sec. 7: MW 1:10-2:25.
Available to SSP, SMP, BCI, PSY.
Total tuition: credit $2,750*
Prerequisite: high school mathematics through intermediate algebra. Enrollment limited to 45 students. Designed for students in fields (e.g., economics) that emphasize quantitative methods. Probability concepts and basic theory of sampling distributions as aids to quantitative reasoning and data analysis. Illustrations from the natural and social sciences. Data quality and causal inference; graphical and numerical summaries; statistical modeling of relationships between variables; computer use for data management, evaluation of models, and estimation of parameters.

Economics W2261x. Introduction to accounting and finance. 4 pts. Sec. 1: L. Schier, TuTh 12:10-2; sec. 2: Instructor to be announced, MW 6:10-8 evening.
Available to SSP, SMP, BCI.
Total tuition: credit $3,072
Prerequisite: Economics W1105. The concepts and methods underlying the financial statements of business corporations. Attention to problems of asset valuation, income determination, cash flows, and cost and profit behavior in response to changes in the level of business activity. Analysis of selected corporate financial statements, capital structure, and leverage. Strategies and analytical methods for the evaluation of capital projects.

Advanced Undergraduate Lecture Courses

Economics W3211x. Intermediate microeconomics. 3 pts. Sec. 1: R. Ericson, TuTh 1:10-2:25; sec. 2: E. Miyagawa, TuTh 6:10-7:25 evening.
Available to SSP, SMP, BCI.
Total tuition: credit $2,750*
Prerequisite: Economics W1105 or the equivalent; one term of calculus; the second term of calculus may be taken concurrently with W3211. The determination of the relative prices of goods and factors of production and the allocation of resources.

Economics W3213x. Intermediate macroeconomics. 3 pts. X. Sala-i-Martin. MW 6:10-7:25 evening.
Available to SSP, SMP, BCI.
Total tuition: credit $2,750*
Prerequisite: Economics W1105 or the equivalent; one term of calculus; the second term of calculus may be taken concurrently with W3213. National income accounting, output and employment; Keynesian and neo-Keynesian analysis; alternative schools; economic growth.

Spring 2001

Advanced Undergraduate Lecture Courses

Business W3001y. Introductory finance. 3 pts. L. Zicchino. Th 6:10-8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
Prerequisite: an introductory course in economics and a firm grasp of high school algebra. Prerequisite or corequisite: an introductory accounting course such as Economics W2261. Those without such a background should first take Economics W1105 plus one of the following: Mathematics W1003, or Statistics W1001 or W1111 Mathematics proficiency must be demonstrated through the Mathematics Placement Examination administered during registration in 508 Lewisohn. How assets are priced in financial markets, where assets are viewed, most generally, as claims to future income streams. Applications to stocks, bonds, entire companies, etc. Notions of the present value of a cash flow, systematic risk, capital structure, and Miller-Modigliani Theory are emphasized. Consideration of leveraged buyouts, mergers, stock repurchases. Introduction to options and futures. Lectures, problems.

Business W3003y. Corporate finance. 3 pts. C. Asbury. W 6:10-8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
Prerequisites: one accounting course (Economics W2261 or the equivalent) and one course in finance (Business W3001 or the equivalent). Students with substantial and relevant professional experience in financial institutions may be able to meet the demands of this course without a previous finance course. An exploration of the central concepts of corporate finance for those who already have some basic knowledge of finance and accounting. This case-based course considers project valuation; cost of capital; capital structure; firm valuation; the interplay between financial decisions, strategic consideration, and economic analyses; and the provision and acquisition of funds. These concepts are analyzed in relation to agency problems: market domination, risk profile, and risk resolution; and market efficiency or the lack thereof. The validity of analytic tools is tested on issues such as highly leveraged transactions, hybrid securities, volatility in initial public offerings, mergers and acquisitions, divestitures, acquisition and control premiums, corporate restructurings, sustainable and unsustainable market inefficiencies, etc. Unlike other undergraduate business courses, this course may be counted toward the economics major or concentration by Columbia undergraduates.

Business W3008y. Options and futures. 3 pts. M. Naldi. W 6:10-8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
Prerequisites: Business W3001, W3003, or the equivalent; Statistics W1001 or W1111; Mathematics V1101 or V1111. The evaluation of derivative securities--securities whose value is fundamentally dependent upon the value of some underlying asset. About 80 percent of the course focuses on options, with the remainder focused on futures and forward contracts. For each of these instruments, the goal is to understand how the instrument is priced in a competitive securities market and how it is used to manage portfolio risk and/or to facilitate the execution of complex corporate transactions. These uses are in part illustrated in the context of three case discussions/presentations.

Business W3010y. Managing human behavior in the organization. 3 pts. R. Kopelman. Tu 6:10- 8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
An introduction to and overview of major concepts of management and organization theory concentrating on understanding human behavior in organizational contexts, with heavy emphasis on the application of concepts to solve managerial problems. Behavioral issues at the individual, group, and systems levels. Lectures, discussions, case studies, simulations, and small group exercises.

Business W3020y. Introduction to marketing and marketing management. 3 pts. K. Jedidi. M 6:10- 8:40 evening.
Available to SSP, BCI.
Total tuition: credit $2,750*
No previous background in marketing is required for the course. Introduction to the basic concepts of marketing. Students develop an understanding of, and the decision-making capabilities for, formulating marketing strategies for the complex situations that characterize real-life marketing problems.

Other Courses of Instruction Applicable to the Business Careers Initiative Certificate

See page 17 for information about the Business Careers Initiative.

Introductory Undergraduate Courses

Statistics W1001y. Introduction to statistical reasoning. 3 pts. Instructor to be announced. TuTh 10:35-11:50.
Available to SSP, SMP, BCI, PSY.
Total tuition: credit $2,750*
Prerequisite: some high school algebra. Friendly introduction emphasizing conceptual understanding and applications. Topics include design of experiments, data collection and graphical display, probability and modeling, normal curve and its approximations, linear regression, confidence intervals, hypothesis testing, computer use for data management. Examples drawn from several areas, including medical studies, genetics, political science, population surveys, economics, legal studies, business, and physics.

Mathematics V1101y. Calculus IA. 3 pts. Sec. 1: C. Diaconu, MW 10:35-11:50; sec. 2: instructor to be announced, MW 2:40-3:55; sec. 3: instructor to be announced, MW 6:10-7:25 evening; sec. 4: B. Mangum, TuTh 10:35-11:50; sec. 5: C. Doran, TuTh 4:10-5:25.
Available to SSP, SMP, BCI.
Total tuition: credit $2,750*
Prerequisite: see Courses for First-Year Students. Functions, limits, derivatives, introduction to integrals. The Help Room on the 3rd floor of Milbank Hall (Barnard College) is open during the day, Monday through Friday, to students seeking individual help from the instructors and teaching assistants.

Economics W1105y. Principles of economics. 4 pts. Sec. 1: T. Idson, TuTh 1:10-2:25; sec. 2: S. Davidson, hours to be arranged.
Available to SSP, SMP, BCI.
Total tuition: credit $3,072
How a market economy determines the relative prices of goods, factors of production, and the allocation of resources, and the circumstances under which it does these things efficiently. Why such an economy has fluctuations and how they may be controlled.

Statistics W1111y. Introduction to statistics, A. 3 pts. Sec. 1: A. Gelman, TuTh 10:35-11:50; sec. 2-7: Instructor to be announced, sec. 2: MW 10:35-11:50; sec. 3: TuTh 6:10-7:25 evening; sec. 4: MW 6:10-7:25 evening; sec. 5: TuTh 1:10-2:25; sec. 6: MW 1:10-2:25; sec. 7: MW 1:10-2:25.
Available to SSP, SMP, BCI, PSY.
Total tuition: credit $2,750*
Prerequisite: high school mathematics through intermediate algebra. Enrollment limited to 45 students. Designed for students in fields (e.g., economics) that emphasize quantitative methods. Probability concepts and basic theory of sampling distributions as aids to quantitative reasoning and data analysis. Illustrations from the natural and social sciences. Data quality and causal inference; graphical and numerical summaries; statistical modeling of relationships between variables; computer use for data management, evaluation of models, and estimation of parameters.

Economics W2261y. Introduction to accounting and finance. 4 pts. Sec. 1: L. Schier, TuTh 12:10-2; sec. 2: Instructor to be announced, MW 6:10-8 evening.
Available to SSP, SMP, BCI.
Total tuition: credit $3,072
Prerequisite: Economics W1105. The concepts and methods underlying the financial statements of business corporations. Attention to problems of asset valuation, income determination, cash flows, and cost and profit behavior in response to changes in the level of business activity. Analysis of selected corporate financial statements, capital structure, and leverage. Strategies and analytical methods for the evaluation of capital projects.

Advanced Undergraduate Lecture Courses

Economics V3025y. Financial economics. 3 pts. R. Sethi. MW 10:35-11:50.
Available to SSP, SMP.
Total tuition: credit $2,750*
Prerequisites: Economics W3211 and W3213. Institutional nature and economic function of financial markets. Emphasis on both domestic and international markets (debt, stock, foreign exchange, eurobond, eurocurrency, futures, options, and others). Principles of security pricing and portfolio management; the Capital Asset Pricing Model and the Efficient Markets Hypothesis. Note: Economics V3025 will not count towards the Economics major or concentration if Business W3001-Introductory Finance has been taken previously.

Economics W3211y. Intermediate microeconomics. 3 pts. Sec. 1: E. Miyagawa, MW 11-12:15; sec. 2: L. Koçkesen, TuTh 5:40-6:55 evening.
Available to SSP, SMP.
Total tuition: credit $2,750*
Prerequisite: Economics W1105 or the equivalent; one term of calculus; the second term of calculus may be taken concurrently with W3211. The determination of the relative prices of goods and factors of production and the allocation of resources.

Economics W3213y. Intermediate macroeconomics. 3 pts. Sec.1: M. Henry, MW 2:40-3:55; sec. 2: R. Perotti, evening hours to be arranged.
Available to SSP, SMP.
Total tuition: credit $2,750*
Prerequisite: Economics W1105 or the equivalent; one term of calculus; the second term of calculus may be taken concurrently with W3213. National income accounting, output and employment; Keynesian and neo-Keynesian analysis; alternative schools; economic growth.