Weekend MBA

Finance

The management of financial assets is important in all businesses. Finance describes how businesses raise the capital they need to start and sustain themselves; decide which projects make financial sense; manage risks; and investigates how people invest in companies; how financial markets work; and how an economy allocates money to where it will have the most value.

In Chicago Booth's legendary finance curriculum, covering both corporate finance and investments, you will learn to evaluate risk and reward through an empirical lens. Our corporate finance offerings will prepare you at the business level: Should a company buy or build? Should they borrow money or issue stock? How should they compensate executives? Should they hedge costs, and if so, how? Investment courses prepare you to make decisions in financial markets: What determines stock and bond prices? How do you evaluate a fund manager? What financial risks carry big rewards, and how should an investor allocate his or her portfolio to take advantage of them? Through our culture of questioning and debate, you'll acquire a healthy skepticism that prompts you to look at each solution and probe for better explanations.


You'll have the chance to explore activities outside the classroom in numerous ways that will also allow you to build new skills, relationships, and networks. These include:

 

  • Chicago Booth Banking Club - The mission of the Chicago Booth Banking Club (CBBC) is to further educational, networking, and professional development opportunities in an effort to promote careers in investment banking to its members. The CBBC’s goals are to help its members make informed decisions about whether a career in investment banking is right for them and to provide support should they choose to pursue such a career. While the CBBC is open to all members of the Chicago Booth community, including students and alumni of the Full-Time MBA and Executive MBA programs, it primarily serves the needs of the Evening MBA and Weekend MBA programs.
  • Chicago Booth Finance Club - Our mission is to enhance Chicago Booth Evening MBA and Weekend MBA students' understanding of the financial industry, provide an environment for these students to share experiences with others interested in or working in finance-related fields, and identify career growth enhancers in finance for these individuals.
  • Investment Management Group (weIMG) - WeIMG provides students with opportunities to gain exposure to and delve deeper into the richness of the investment management field.

You’ll have the option of taking courses that address your individual career choices. Samples include:

  • Financial Instruments - This course develops, critically assesses, and applies theories of pricing derivatives. Topics include forward contracts, futures, and swaps; pricing forwards and futures; interest rate and currency swaps; options and no-arbitrage restrictions; and trading strategies and slope and convexity restrictions.
  • Portfolio Management - This quantitative course presents advanced material relevant for portfolio managers. Topics include the money management industry (mutual funds, pension funds, hedge funds), modern techniques for optimal portfolio selection, liquidity and transaction costs, properties of asset returns, and investment strategies designed to exploit apparent violations of market efficiency.
  • Financial Markets and Institutions - This is an advanced course in corporate finance. The course studies financial institutions, financial crises, and the design of financial contracts. The economic role of various types of debt contracts is one theme. The strategic effects of the bankruptcy and reorganization process is another. The perspective is that of the chief financial officer (CFO), who must choose a source of funds, choosing between issuing securities directly to the public versus borrowing from an intermediary such as a bank or insurance company.
  • Advanced Investments - One central theme this course examines is that asset pricing has undergone a sea change in the last 20 years or so, with the realization that expected returns do vary across time, and across assets, in ways that the static CAPM and random-walk view does not recognize. The course will cover a range of topics, including how stock and bond returns can be predicted over time; understanding the volatility of stock and bond returns; multi-factor models for understanding the cross-sectional pattern of average returns, such as value, growth and momentum effects; the size of the average market return and its relation to fundamental risks; optimal portfolios that reflect multifactor models, return predictability and hedging motives; advanced trading strategies used by trading desks and hedge funds; performance evaluation and benchmarks for funds; and liquidity effects and "bubbles" in stocks and bonds.

You’ll learn about the forces shaping capital markets around the globe from professors who conduct groundbreaking research, have sat on the Board of Governors of the Federal Reserve, and advised the president and heads of state.

John H. Cochrane

John H. Cochrane, AQR Capital Management Distinguished Service Professor of Finance, is a research associate and past director of the asset pricing program of the National Bureau of Economic Research and a Fellow of the Econometric Society. His recent publications include the book Asset Pricing and numerous articles on his research topics.

George M. Constantinides

George M. Constantinides, Leo Melamed Professor of Finance, studies the causes of the historically observed premium of equity returns over bond returns, the value premium, and the size premium; the pricing and hedging of fixed-income securities, options, futures, and other derivatives; the effects of transaction costs and taxes on the pricing of derivatives; and portfolio management. 

Douglas W. Diamond

Douglas W. Diamond, Merton H. Miller Distinguished Service Professor of Finance, specializes in the study of financial intermediaries, financial crises, and liquidity. His work has appeared in such notable journals as the Journal of Financial Economics, the Journal of Finance, the Review of Economic Studies, the American Economic Review, and the Journal of Political Economy.

Eugene F. Fama

Eugene F. Fama, Robert R. McCormick Distinguished Service Professor of Finance, is widely recognized as the "father of modern finance." Fama is among the most cited of America's researchers. He focuses much of his study on the relation between risk and return and implications for portfolio management.

Stefano Giglio

Stefano Giglio, assistant professor of finance, has research interests that span several topics, including asset pricing, macroeconomics, and real estate, with a particular focus on the role of frictions in credit markets. His work has been published in the American Economic Review and in the Journal of Monetary Economics. His most recent paper explores the role of counterparty risk in Credit Default Swap markets and its relation to the measurement of systemic risk. For his work at Harvard, he has received the Martin Cornerstone Grant and the Douglas Dillon Fellowship from the University.

Tarek Alexander Hassan

Tarek Alexander Hassan, assistant professor of finance, studies applied and theoretical econometrics, the uses of high-dimensional statistical methods in economic applications, estimation of panel data models, quantile regression, and weak instruments. In 2008, Hansen was named a Neubauer Family Faculty Fellow. 

Zhiguo He

Zhiguo He, associate professor of finance and Robert King Steel Faculty Fellow, is primarily interested in agency frictions in corporate finance and asset pricing, with a special focus on contract theory. Before joining the Chicago Booth faculty in 2008, he was visiting the Bendheim Center for Finance at Princeton University as a postdoc fellow. He also taught at Northwestern University, and was a stock analyst at the China International Capital Corporation in Beijing in 2001.

John C. Heaton

John C. Heaton, Joseph L. Gidwitz Professor of Finance; Deputy Dean for Faculty, studies asset pricing, portfolio allocation, and time-series economics. His research in these areas has earned him numerous fellowships, including an Alfred P. Sloan Research Fellowship, a National Science Foundation Fellowship and a Provost Fund Fellowship from Massachusetts Institute of Technology (MIT).

Steven Neil Kaplan

Steven Neil Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance, was named one of Businessweek's top 12 business teachers in the country, and has served on the boards of Illinois Venture Capital Association and Morningstar. He is widely published in academic journals and often quoted for his expertise in publications like the Wall Street Journal and Bloomberg.

Anil K Kashyap

Anil K Kashyap, Edward Eagle Brown Professor of Economics and Finance and Charles M. Harper Faculty Fellow, focuses his research on banking, business cycles, corporate finance, price setting, and monetary policy. His research has won him numerous awards, including a Sloan Research Fellowship, the Nikkei Prize for Excellent Books in Economic Sciences, and a Senior Houblon-Norman Fellowship from the Bank of England.

Bryan T. Kelly

Bryan T. Kelly, assistant professor of finance, has research interests include theoretical and empirical asset pricing; models of tail risk, volatility and correlation dynamics; and asymmetric information in asset markets. He is a faculty research fellow at the NBER and an associate editor of the Journal of Financial Econometrics

Richard Leftwich

Richard Leftwich, Fuji Bank and Heller Professor of Accounting and Finance, has been a member of the faculty at the University of Chicago Booth School of Business since 1979, and he visited the Harvard Business School as a Marvin Bower Fellow in 1986 - 87. He has been Deputy Dean for the faculty since July 2004. 

Juhani Linnainmaa

Juhani Linnainmaa, associate professor of finance, studies learning, asset prices and portfolio choice, mergers and acquisitions, investor behavior, and high-frequency data. 

Gregor Matvos

Gregor Matvos, associate professor of finance, studies corporate finance and organizational economics. His paper "Cross-Ownership, Returns, and Voting in Mergers," written with Michael Ostrovsky, is published in the Journal of Financial Economics and has been covered in several media, including the Financial Times and US News.

Tobias J. Moskowitz

Tobias J. Moskowitz, Fama Family Professor of Finance, was recognized by the American Finance Association with its 2007 Fischer Black Prize, which honors the top finance scholar under the age of 40. The award cited his "ingenious and careful use of newly available data to address fundamental questions in finance."

Stavros Panageas

Stavros Panageas, associate professor of finance, studies asset pricing and macroeconomics. Previously he has taught at the Wharton School of the University of Pennsylvania. He is a faculty research fellow of the National Bureau of Economic Research and he has been a visiting scholar at the Federal Reserve Bank of Minneapolis and the London School of Economics. 

Lubos Pastor

Lubos Pastor, Charles P. McQuaid Professor of Finance, focuses his research mostly on financial markets and asset management. His latest work analyzes the effects of political uncertainty on asset prices. He has also written on a broad range of topics such as liquidity risk, stock price bubbles, portfolio choice, performance evaluation, stock volatility, return predictability, technological revolutions, and IPOs. He has analyzed various effects of parameter uncertainty and learning in finance.

Raghuram G. Rajan

Raghuram G. Rajan, Eric J. Gleacher Distinguished Service Professor of Finance, served as chief economist at the International Monetary Fund between 2003 and 2006. He is the author, along with fellow GSB faculty member Luigi Zingales, of the book Saving Capitalism from the Capitalists. He received the inaugural Fischer Black Prize in 2003.

Amit Seru

Amit Seru, associate professor of finance, is interested in issues related to financial intermediation and regulation, interaction of internal organization of firms with financing and investment, and incentive provision in firms. His papers in these areas have been published in the Quarterly Journal of Economics, the Journal of Finance, the Journal of Financial Economics, the Journal of Monetary Economics and the Review of Financial Studies

Kelly Shue

Kelly Shue, assistant professor of finance, focuses her research on social networks, executive compensation, M&A, credit markets, and corporate social responsibility. Her current research explores the extent to which financial markets underreact to “no news,” i.e., the pure passage of time. Her work on executive social networks was awarded the 2012 Wharton School-WRDS Award for Best Empirical Finance Paper.

Amir Sufi

Amir Sufi, professor of finance, studies the broad areas of finance and macroeconomics. His research has won numerous prizes, including the Brattle Prize for Distinguished Paper from the Journal of Finance and the inaugural Young Researcher Prize from the Review of Financial Studies. Sufi has articles published in the American Economic Review, the Journal of Finance and the Quarterly Journal of Economics. His recent research on housing and the macroeconomy has been profiled in the New York Times, the Wall Street Journal, and the Economist. He was also awarded an Alfred P. Sloan Research Fellowship in 2011.

Margarita Tsoutsoura

Margarita Tsoutsoura, assistant professor of finance, studies empirical corporate finance, entrepreneurial finance, family firms, and financial intermediation. Her most recent research for her dissertation looked at the effect of succession taxes on entrepreneurs’ succession decisions, investment decisions, and financial policies. Tsoutsoura earned the 2009 Kauffman Foundation Dissertation Fellowship for this work, which is titled “The Effect of Succession Taxes on Family Firm Investment: Evidence from a Natural Experiment.” The Fulbright Fellowship and the WFA Trefftzs Award and are amongst Tsoutsoura’s other varied honors and fellowships.

Pietro Veronesi

Pietro Veronesi, Roman Family Professor of Finance, conducts research that focuses on asset pricing, stock and bond valuation under Bayesian uncertainty and learning, stock market bubbles and crashes, return predictability and stochastic volatility, and equilibrium models on political uncertainty and asset prices. Veronesi is a research associate of the National Bureau of Economic Research and a research fellow of the Center for Economic and Policy Research.

Robert W. Vishny

Robert W. Vishny, Myron S. Scholes Distinguished Service Professor of Finance, currently teaches a course titled Behavioral and Institutional Finance. Vishny previously taught Cases in Financial Management and Corporation Finance at Booth over a 20 year period.

Luigi Zingales

Luigi Zingales, Robert C. McCormack Professor of Entrepreneurship and Finance and the David G. Booth Faculty Fellow, is coauthor with Raghuram G. Rajan of Saving Capitalism from the Capitalists. The book received acclaim from the Wall Street Journal and the Washington Post.

Mark Zmijewski

Mark Zmijewski, Leon Carroll Marshall Professor of Accounting, focuses his academic writing and consulting on issues related to valuation, security analysis, and the effect of financial and other disclosures on capital market participants and security prices. 

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