Courses


FIN 603  Financial Econometrics

The course will mostly be based on Time Series econometric methods. While this is the ideal approach for an introduction to the fundamental methods of quantitative finance, the student should keep in mind that the range of econometric methods that can be used to answer questions related to finance and financial economics spans almost the entire spectrum of econometrics. The course starts by reviewing basic tools of statistics and econometrics, and makes brief introductions to regression analysis, least squares methods, and some extensions of these topics. Then, numerous time series methods are discussed, including the estimation and forecasting of ARMA and ARIMA models, models of conditional heteroscedasticity (ARCH/GARCH), vector autoregressions, and cointegration. Each topic is discussed along with its applications in finance, keeping in mind the peculiarities of financial data and methods that are designed to work with such data.


FIN 601  Corporate Finance Theory

This course investigates the primary concepts and theories in economics and finance and reveals the concepts and models that affect decision making process under uncertainty which are widely used in academic research as well as in private institutions outside the university.


ECON 601  Microeconomic Theory I

The course starts with individual agent’s problem focusing on rational choice, demand, consumer surplus followed by decision under uncertainty. We then study social decision, focusing on Arrow’s impossibility theorem. The course will continue with detailed examination of general equilibrium models, asset markets and welfare analysis.


FIN 604  Quantitative Methods in Finance

The course will mostly be based on Time Series econometric methods. While this is the ideal approach for an introduction to the fundamental methods of quantitative finance, the student should keep in mind that the range of econometric methods that can be used to answer questions related to finance and financial economics spans almost the entire spectrum of econometrics. The course starts by reviewing basic tools of statistics and econometrics, and makes brief introductions to regression analysis, least squares methods, and some extensions of these topics. Then, numerous time series methods are discussed, including the estimation and forecasting of ARMA and ARIMA models, models of conditional heteroscedasticity (ARCH/GARCH), vector autoregressions, and cointegration. Each topic is discussed along with its applications in finance, keeping in mind the peculiarities of financial data and methods that are designed to work with such data.


FIN 602  Empirical Research in Finance

Providing students with practice in academic paper reading, evaluating, criticizing and preparing research design.


ITF 603  Research Seminar in Finance

A number of topics in finance that are of recent interest to the finance discipline will be explored in the form of book reviews and seminars and through the reading of the relevant academic research papers published in peer-reviewed journals and other sources.For each topic, the lecturer will give a brief overview and facilitate the subsequent seminar. Furthermore, students will improve their teaching skills through presenting the subjects assigned to them in a teaching environment.


FIN 695  Comprehensive Exam

Student needs to study all the subjects of his/her previous courses to be able pass the exam at the end of the term


FIN 699  Thesis

Providing students with knowledge in determining dissertation and its research design.


Elective Courses


ECON 603  Macroeconomic Theory I

The course begins by introducing to students the oneperiod general equilibrium models. Next, twoperiod partial and general equilibrium macroeconomic modeling is developed. Finally, deterministic dynamic general equilibrium modeling is studied through reviewing economic growth literature. In that scope, difference equations, differential equations and optimal control theory are covered in the course at sufficient detail.


ECON 604  Macroeconomic Theory II

The course will undertake the following topics; the Solow Model and its extensions with productivity growth, the Ramsey model and its extensions to labor/leisure choice, open economy and imperfect markets, overlapping generations model (OLG), consumption with buffer stocks and liquidity constraints.


ECON 605  Statistics

This course overviews various statistical techniques including distribution theory and the properties of various distributions. Statistical inference with normally distributed variables as well as multivariate normal distribution and related distributions will be covered. Additional topics include, sampling theory, principle component analysis, statistical inference from data with binomial and Poisson distributions, and properties of large and small samples.


ECON 606  Econometrics

This course begins with the traditional econometric methods of matrix regression and general regression theory as well as the traditional understanding of econometric modeling. Additional topics include linear regression analysis, the least squares method, the ML estimator, univariate time series model, autoregressive moving average (ARIMA) modeling, BoxJenkins hashing, deterministic and stochastic trends, differential equations, nonstationary, seasonality, volatility, trends and transformations, multiequation timeseries models, cointegration and errorcorrection models, Logit, Probit and Tobit models, system models, and SUR, VAR, and panel data models.


FIN 605  Financial Modelling

The financial models covered include portfolio management and estimation, capital budgeting, risk measurement, discounted cash flow models, and pricing of options. Basic financial concepts necessary to understand these models will be reviewed. Useful spreadsheet features such as data tables, scenario manager, database operations, pivot tables and charts, and other statistical builtin functions will be reviewed.


FIN 610  International Financial Management

The main objective is to explore the modern financial management areas of corporate finance in an international setting with emphasis on those features that are unique to multinational corporation. This will require a general understanding of the international economic and monetary environment, plus a solid understanding of the basic tools of financial analysis.


FIN 611  Derivatives and Risk Management

This course examines the purpose and function of derivative markets and instruments, the evolution and future of derivative markets, market participants, exchange traded versus overthecounter markets (OTC), the suite of exchange traded products, selected OTC products, derivative pricing, risk management with derivatives, trading, arbitrage and speculation with derivatives, the use of derivatives in alternative investing. The course will incorporate theory, practice, and experiential learning and will include team projects.


FIN 612  Behavioral Finance

Behavioral finance is the application of psychology to investment behavior. It explores how various behavioral concepts such as behavioral frames, biases and heuristics impact individual investors’ decisions, market dynamics and corporate decision makings.


FIN 613  Financial Institutions and Markets

The content of this course will be comprised of mainly examining the structure of financial institutions and markets in developed countries and in Turkey as well as their interactions. The basic topics to be covered in this course are; the evolution of financial institutions, their role within the financial system, the operation of financial markets, their impact on economy, their future role and possible development strategies for Turkish financial markets.


FIN 614  Bank Management

Topics covered are: to provide the course participants better understanding the management of banks in general and banking in particular given the rapid changing financial environment as well as the decision making process in banking and practical aspects of asset and liability management with special emphasis on risk measurement and management as the basic component in the bank management process.


FIN 615  Stochastic Processes in Finance

The topics covered in this course include the definitions and the classifications of stochastic processes, Poisson process, renewal theory, Markov chains and processes, Martingales.


FIN 616  Time Series Analysis

The class covers the theory behind a variety of topics in time series econometrics, and introduces the student to a large number of time series applications. Class exposition is evenly divided between theory and applications, but applications are given priority in assignments and exams.


FIN 617  Market Microstructure and Asset Pricing

The class covers the theory behind a variety of topics in asset pricing theory, and introduces the student to a large number of asset pricing applications. Class exposition is evenly divided between theory and applications, but applications are given priority in assignments and exams.


ITF 602  Investment Analysis and Portfolio Management

This course considers the management of investment through asset pricing, portfolio construction and portfolio management from a theoretical point of view. It also explores the assumptions of investor rationality, investor irrationality and their impact on investment decisionmaking again from a theoretical point of view.


ITF 605  Financial Economics

This course examines the economic principles that determine the allocation of resources through time in market economies. It uses supply and demand relationships to value capital assets (or projects more generally). There is a detailed treatment of the effects of risk and taxes on capital asset prices, and the ModiglianiMiller financial policy irrelevance theorems are derived and examined in detail.


ITF 693  Applied Scientific Research

Providing students with practice in preparing research paper.