School of Business

FIN102 – EBP : Global Financial Issues 1

Information is critical for making a decision on investment. This course aims to enable students to collect and analyze articles about economy published in the major international news media such as Wall Street Journal, Financial Times, New York Times, Washington Post, Asian Wall Street Journal and Bloomberg. To this end, students are recommended to develop an ability to analyze the articles about economy both in Korean and English during the spring semester of their freshman year.

FIN101 – EBP : Global Financial Issues 2

This course is the 2nd phase(fall semester of freshman year) of the six-phase Early Bird Project. It aims to gradually develop students’ ability to analyze financial news in English. While students are encouraged to study mainly with the local English newspapers at first, they will gradually spend more time dealing with international newspapers. Students will team up and submit a study result once a week or a month.

FIN201 – EBP : Global Financial Issues 3

This course is the 3rd phase(spring semester of sophomore year) of the six-phase Early Bird Project. In the 3rd Phase, the proportion of the local English newspapers will fall below 50% while that of the international newspapers will increase above 50%. Students will team up and submit a study result once a week or a month.

FIN202 – EBP : Global Financial Issues 4

This course is the 4th phase(fall semester of sophomore year) of the six-phase Early Bird Project. In the 4th phase, the proportion of the local English newspapers will fall below 30% while that of the international newspapers will increase above 70%. Students will team up and submit a study result once a week or a month.

FIN302 – EBP : Global Financial Issues 5

This course is the 5th phase(spring semester of junior year) of the six-phase Early Bird Project. In this course, students mainly deal with internationally renowned newspapers and also get information on the financial market from local English newspapers. Students are required to analyze financial information and apply it to the decision making process of risk management and investment strategy. Finally, they submit an in-depth report on the whole process.

FIN301 – EBP : Global Financial Issues 6

This course is the 6th phase(fall semester of junior year) of the six-phase Early Bird Project. In this course, students mainly deal with internationally renowned newspapers and also get information on the financial market from local English newspapers. Students are required to analyze financial information and apply it to the decision making process of risk management and investment strategy. Finally, they submit an in-depth report on the whole process.

MATH102 – Calculus–1

A basic area of mathematics, calculus is comprised of the two inter-complementary concepts, i.e., differential calculus focusing on rates of change, such as the slopes of tangents and velocities, and integral calculus dealing with total size or value, such as lengths, areas, and volumes. The course covers the basic theorems of calculus, the nature of the real number, progression, the Taylor series, vectors and matrices, determinants, curves in space and their application.

MATH103 – Calculus–2

This course deals with the practical applications of calculus, logical thinking, and the use of abstraction and proofing. The focus is placed on the functions of several variables and vectors. Students learn in-depth calculus of the functions of several variables, vector fields, Green’s theorem, Stokes’ theorem, etc.

FIN203 – Computer Programming for Financial Engineering

Financial engineering is a field where mathematical methodology is applied to price fixing, hedging, risk management, portfolio management, etc. This course helps students acquire a working-level knowledge by programming and embodying financial engineering models, using computer languages.

FIN132 – The Economic Way of Thinking-1

This course helps students observe the evolving process of institutional apparatuses, such as the market, businesses, the government and currency, widely and deeply from a historical and theoretical perspective. Students are encouraged to understand the essence of the system and ideology that has pushed ahead with the dynamic process. This course also defines the conflicts and harmonies created between diverse objects and the means that appeared in the course of developing organizations and the policies designed to overcome the challenges and difficulties. Thus, light is shed on the relationship between the government and the market as well as the structural framework lying beneath the real economy.
In this course, students are expected to gain a better understanding of economics and the real economy by defining the logic of human behavior and the social dynamics that lie at the core of orthodox economics.
Considering the breadth and depth of the subject, the course runs across two semesters. In classes, students read distinguished scholars’ articles in English, present their views and carry out debates.

FIN131 – The Economic Way of Thinking-2

This course helps students observe the evolving process of institutional apparatuses, such as the market, businesses, the government and currency, widely and deeply from a historical and theoretical that has pushed ahead with the dynamic process. This course also defines the conflicts and harmonies created between diverse objects and the means that appeared in the course of developing organizations and the polices designed to overcome the challenges and difficulties. Thus, light is shed on the relationship between the government and the market as well as the structural framework lying beneath the real economy.
In this course, students are expected to gain a better understanding of economics and the real economy by defining the logic of human behavior and the social dynamics that lie at the core of orthodox economics. Considering the breadth and depth of the subject, the course runs across two semesters. In classes, students read distinguished scholars’ articles in English, present their views and carry out debates.

BIZ102 – Principles of Economics-1

This course introduces the basic principles of the market economy and helps students build the ability to explain and analyze real phenomena based on economic principles. Students are required to have a basic mathematical knowledge, such as exchange, opportunity cost, marginal cost, etc., market mechanisms based on supply-demand analysis, consumer and producer theory, product markets and competition, a market for the factors of production, income distribution, international trade, and microeconomics, in general.

BIZ100 – Business Ethics and Career Development

A freshman course, this covers the business ethics a business administration major should keep in mind. The course provides students with the opportunity to listen to the opinions of business dignitaries concerning the choice of their future career and to make forecasts related to specialized fields. Grades are divided into a simple pass or fail.

BIZ261 – Principles of Economics-2

This course focuses on the major variables of macroeconomics and an understanding of their basic principles. It helps students understand the principles of establishing an equilibrium of income and price fixing using aggregate demand/supply curves. It also covers the role of fiscal polices by analyzing the relationships between inflation and unemployment using the AS-AD model. Students are encouraged to analyze the impact of the government’s monetary policies on macroeconomics based on currency demand/supply curves, the currency mechanism and interest rates.

BIZ331 – Market Economy and Fair Trade

This course helps students view the history of the development of a market economy from the perspective of the evolution of the economic system. The focus is placed on the improvement of the prevalent conditions, overcoming the problems and understanding the logic lying at their core. Students are encouraged to approach the issue of finding a harmony between the private and public interests, economic ethics and logic, growth efficiency and distributive justice, and the market and the government from ideological and institutional perspectives.
The Fair Trade Act is one of the typical attempts to resolve the conflicts inherent in a market economy. As a law for maintaining the basic order in a market economy, the various versions of it implemented in countries share the basic purpose of adopting a competitive market structure and encouraging free and fair market activities; however, their content varies wildly from country to country as they reflect specific elements of said countries.
In consideration of such a reality, this course introduces the ideology and logic of The Fair Trade Act and analyze the principles of its composition, economic logic and experience of application concerning only the positive law of this country and the U.S., due to time constraints. The course focuses on acts of monopoly, abuse of monopolistic power, joint acts in an oligarchic market, unfair trade acts and the issue of a holding company in the financial market.

BIZ111 – Principles of Accounting

• Framework of Financial Accounting : Accounting concepts, principles and assumptions that lay the groundwork for drawing up financial statements, such as accounting equations, the system of double entry bookkeeping, the difference between cash base accounting and accrual base accounting, the circulating process of accounting, analyzing and journalizing transactions, basic financial statements, valuation of assets, capital and liabilities, internal control system, cash control, accounting principles and concepts, the purpose of financial report, qualitative characteristics of accounting information, etc., are covered
• Corporate accounting : The characteristics of corporations, the problems of corporate accounting, the drawing up businesses’ financial statements.
• Introduction to the international accounting standards adopted in Korea.
• Analysis and interpretation of financial statements : The need for analysis and interpretation of financial statements and methods of analysis – ratio analysis and methods of analyzing cash flow statements, the basic methods of calculating the financial ratio, the limitations of ratio analysis.
• Accounting and ethics : The occupational ethics to be observed at the time of the drawing up of accounting information.

BIZ321 – Financial Management

This course helps students to acquire a wide range of knowledge about the basic theories and techniques concerning financial management as well as the structural and functional aspects of fund supply and operations. The major subjects covered by this course include the methods of fund supply in the capital and financial markets, the calculation of capital expense, the analysis and appraisal of investment plans, the compilation of the capital budget, corporate liquidity management, capital structure polices, dividend policies, financial forecasts, etc.

BIZ322 – Investments

This course deals with the matters concerning the appraisal of the value of investment targets, such as analysis of the function of the capital market, the features of investment in securities, i.e., stocks, bonds, options and futures, and the modern capital market theory that deals with models that decide the prices of capital and assets and the investment strategies.

FIN321 – Options and futures

In this course, students learn about derivatives, such as futures and options, the mechanism of the derivatives market and decisions made when dealing with them. Students also carry out demonstrative research.

BIZ421 – Fixed Income Securities

Bonds are important and representative financial products. They account for 60~70% of the value of all marketable securities published throughout the world. They are an important means of fund supply for the government, businesses and individuals. Simultaneously, they are investment assets.
This course deals with valuation of bonds and the investment strategies concerning them, systematically and concretely. Students study matters concerning the issuance of bonds, the market for their distribution, the term structure of interest rates, bond valuation, real estate-based securities, bond duration, and risk management using the concept of convexity.

FIN421 – Computational Finance

In this course, students are engaged in the derivatives pricing, value measurement, risk measurement and management, hedging simulation, etc., they studied previously, using programming languages, such as C++, JAVA, Matlab and Excel VBA. They also learn the basics of programming and the principles of evaluating derivatives and measuring the associated risks. In addition, students cover analytical methods and the methods of interpreting numbers as well as Value at Risk and Greek.

FIN151 – Elementary Statistics for Finance

This course introduces probability models as a mathematical tool for describing and analyzing non-deterministic phenomena. Students also study probability and probability variables, probability distribution and expected values, sample distributions, the central limit theorem, point estimates and confidence intervals, hypothesis testing and errors, categorical data, classification table analysis, and the analysis of metric data.

FIN243 – Linear Algebra for Finance

This course deals with bases, singular values, singular vectors, orthogonality, the definition of general vector spaces and diverse examples of such, inner space and the definition of the norm, and then singular value decomposition. Students are also encouraged to think about the application of these. Linear algebra is a basic area of mathematics required by diverse fields of humanity and the social sciences, as well as science and engineering, due to its wide applicability. This course helps students develop an accurate and logical understanding of concepts and build the ability for various calculations.

FIN244 – Advanced Statistics for Finance

As a basic course for theoretical statistics, this module deals with the characteristics of probability distributions, discrete/continuous probability distributions, conditional probability, independence, random variables, the central limit theorem and confidence intervals.

MATH361 – Numerical Analysis

This course can be attended by any student who has completed the courses for computer languages, such as C, Fortran, Matlab and Math Ⅰ/Ⅱ. Students learn how to obtain better numerical outputs by familiarizing themselves with the types of errors and methods of calculation of curves, interpolation, the solution and algorithm of ordinary differential equations based on formulas and solutions through the development of mathematical logic.

FIN322 – Mathematical Analysis for Finance-Ⅰ

This course covers real numbers, complex number systems, set theory, the basics of topology, the limit of sequences and the theory of infinite series, and the limit and continuity of functions.

FIN422 – Mathematical Analysis for Finance-Ⅱ

This course deals with calculus, the integral, function series and mathematical infinite series, multivariable functions, and the Lebesgue integral.

FIN232 – Introduction to Financial Economics

This course aims to have students familiarize themselves with the basic concepts of finance and economic logic. Students learn mean-variance analysis, portfolio selection, the valuation of cash flow, the no arbitrage principle, and market efficiency. As it uses a logical and analytical approach to the relevant subjects, students are required to have a basic mathematical knowledge and mindset.

BIZ324 – International Financial Management

In connection with the globalized business management environment, in which businesses are apt to be exposed to risks, such international regulations or fluctuations in exchange rates and interest rates, this course deals with the basic theories concerning exchange rates and interest rates and the methods of improvement of corporate value by means of hedging the relevant risks. Students also study related subjects, such as foreign investment and multinational financial markets.

BIZ422 – Advanced Corporate Finance

In this course, students study the optimal capital structures and dividend policies that can maximize the corporate value for shareholders, when carrying out corporate activities, based on the Modigliani-Miller theorem, the time-based currencies value and the correlation between risk and profit rate they learned in Financial Management. They also study M&A and the means of enhancing corporate value through the hedging of business risks.

FIN361 – Banks and Financial Institutions

This course teaches students about the function of financial institutions, their role in the economic mechanism, the impact of interest rates on them, the process of currency expansion, theoretical aspects of the nature of financial institutions, and theoretical and practical approaches to financial institutions.

FIN451 – Behavioral Finance

This course intends to help students understand social phenomena in real world situations associated with corporate decision making. This is carried out in connection with the many theories and experimental studies that assert that human psychology can result in lopsided judgment, i.e., irrational and unreasonable decision making in diverse situations, although economics used to assert that people’s decision making was based on rationality in uncertain situations. Students are encouraged to deepen their understanding of the existing relevant literature by studying the basic methodologies of the behavioral and psychological research before covering the existing research on the decisions made in financial situations and real social phenomena.

FIN221 – Differential Equations for Finance

This course sets out the differential equations required to explain, in the form of models, the natural or social phenomena associated with change. The course helps students to solve diverse differential equations as follows:

• Understanding differential equations.
• Setting the phenomena associated with differential equations as mathematical models.
• Finding the solutions the equations.
• Introduction to customer relationship management and the relevant software.
• Intepreting the solutions of the equations.

FIN441 – Probability and Measure

This course deals with the concept of probability space, independence and conditional expected value and the definition and basic nature of measure. The major content of this course includes (기호모름), Lebesgue measure, Borel measure, measurable functions, Radon-Nikodym derivatives, martingales, etc.

FIN452 – Special Issue in Financial Engineering

In this course, students analyze the important topics or current issues relating to financial engineering based on what they have learned up to their junior year in economics, finance and financial engineering.

BIZ475 – Business Internship-1

This course provides students with an opportunity to apply the business administration theories they have learned to a real situation in a business and build their working-level skills.

BIZ476 – Business Internship-2

In this course, students apply the business administration theories they have learned to a real situation in a business and build their working-level skills.

BIZ477 - Business Internship-3

In this course, students apply the business administration theories they have learned to a real situation in a business and build their working-level skills.

BIZ478 - Business Internship-4

In this course, students apply the business administration theories they have learned to a real situation in a business and build their working-level skills.

BIZ231 - Marketing Management (Prerequisites : Principles of Economics-1, Quantitative Management, Management Statistics)

The success of a business is ultimately decided in the market. Marketing is an activity designed to create and maintain a customer base for success in the market. This course aims to help students gain a basic understanding of the concept of marketing and to cultivate their ability to grasp and solving marketing-related problems as would-be business managers. In addition, they familiarize themselves with marketing strategies and the managerial aspects of the marketing mix.

BIZ251 – Organizational Behavior

In this course, students study the basic knowledge about human behavior in a group or an organization as well as organizational management. This course deals with diverse subjects, such as personality and motivation, small group dynamics, communication, decision-making, leadership, organizational structure design, etc.

FIN443 – Partial Differential Equations for Finance

This course introduces three types of partial differential equations, that is, parabolic, elliptic and hyperbolic partial differential equations. Especially, we study the heat equation, the Laplace equation and the wave equation, and we derive those equations and solve them using several techniques in the sense of theoretical and numerival ways. Among those methods, we study separation of variables, Fourier transform, Laplace transform, superposition principle, Green functions, and finite difference methods.

FIN454 – Actuarial Mathmatics

In this course, students study risk theory and insurance, and the actuarial mathematics of life insurance. It covers survival models, life tables, net premiums of life insurances and life annuities. The related knowledge on interest rates and probability theory is required but will be presented in the lecture. We also discuss loading premiums and reserve policy of an insurance company, which is important in its profit management and its risk management.

FIN453 – Stochastic Calculus for Finance

In this course, students study stochastic calculus and its application to the solutions of problems in finance. It covers main topics in stochastic calculus, such as filtration, conditional expectation, Brownian Motion, It integral, It formula, stochastic differential equation, Grisanov theorem, and martingale representation theorem, and their application to the pricing theory of various financial derivatives.

BIZ475 – Business Internship-1

This course provides students with an opportunity to apply the business administration theories they have learned to a real situation in a business and build their working-level skills.

BIZ476 – Business Internship-2

In this course, students apply the business administration theories they have learned to a real situation in a business and build their working-level skills.

BIZ477 - Business Internship-3

In this course, students apply the business administration theories they have learned to a real situation in a business and build their working-level skills.