This course provides an introduction to real estate investment from the perspective of modern finance theory. The principal objective is to develop a framework in thinking critically about equity real estate as an asset-class. A secondary objective is to introduce some basic terminology and familiarity with prevailing institutional arrangements. The market for land, housing, commercial, and industrial space are considered. The material is designed to help real estate professionals and urban planners understand and control the economic environment in which they operate.
Companies increasingly issue securities with features that resemble options or futures.
Options and futures also play an important role in risk management. Many corporate decisions have built-in strategic options which need to be evaluated. While this course is a prerequisite for most finance electives, and is therefore strongly recommended for students specializing in finance, all students will benefit from this course. This course covers portfolio analysis, asset pricing models, investment strategies and convertible securities. This course provides an analysis of fixed income securities.