Finance Courses

This course covers the foundations of corporate finance. It starts with the concepts of time value of money, discounting, and present value. With that background it then considers the major financial decisions made by corporate managers. Topics include the valuation of financial assets and liabilities, criteria for making investment decisions, business valuation, relationships between risk and return, portfolio theory, market efficiency, capital structure choice, and cost of capital. PREREQUISITE: Business Fundamentals, Corporation

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SPRG 2026: LAW JD 985 A1, Jan 12th to Apr 22nd 2026

Assets being managed by hedge funds have grown significantly during the past 10 years. As a result, managers of hedge funds have been the focus of increased scrutiny by investors, the press and regulatory authorities. This course will cover the regulations (and exemptions) applicable to hedge funds and their managers, including under the Securities Act of 1933, the Investment Company Act and the Investment Advisers Act. We will focus on the formation and operation of U.S. and offshore hedge funds, including structure, disclosure, risks and economic and liquidity terms. This will include a detailed review of hedge fund offering documents. We will discuss the many issues being considered by hedge fund managers and regulators, including valuation, conflicts of interest, insider trading and compliance.

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SPRG 2026: LAW BK 934 A1, Jan 12th to Apr 22nd 2026
SPRG 2026: LAW BK 934 OL, Jan 12th to Apr 22nd 2026

Pooled investment funds, such as pension plans and mutual funds, are an important part of the global financial services industry. This course is designed as a survey of pooled funds and seeks to introduce students to the common regulatory themes that are found across pooled fund types, and to identify the unique approaches to regulation applicable to the various pooled fund types studied. The course undertakes an analysis of the legal, regulatory and fiduciary standards that apply to trustees, managers, advisers, and sponsors of collective investment vehicles. The course focuses on the concept of fiduciary duty as the basis of all trusted relationships, and examines selected problems of investor and beneficiary protection in the fields of private and public pension plans and mutual funds. It studies in detail two U.S. federal statutes as examples of legal techniques used to mitigate those risks- -ERISA and the Investment Company Act of 1940 (including fiduciary duties, the role of the fund board and management fees). The class then studies pooled investment funds and investment trusts in the E.U., the U.K. and other countries, focusing on the perceived risks and protective measures reflected in their legal and regulatory systems.

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SPRG 2026: LAW BK 950 A1, Jan 12th to Apr 22nd 2026
SPRG 2026: LAW BK 950 O2, Jan 12th to Apr 22nd 2026
SPRG 2026: LAW BK 950 OL, Jan 12th to Apr 22nd 2026

This seminar introduces students to the business and legal issues prevalent in private equity and venture capital deals and highlights the significant role that lawyers play in effecting these transactions. The seminar will begin with an overview of the private equity and venture capital industries, an introduction to investment transactions and will proceed through all aspects of the life of an investment from inception to exit. It will address how investment funds are formed and the legal and financial considerations present when those funds invest in private companies. We will examine deal terms and structures, pricing and corporate finance issues, and the management of deal risk. It will also highlight the due diligence process, stockholder relationships, fiduciary duties and securities laws considerations, and liquidity events. Theoretical readings will be balanced against practical articles and commentary, recent court decisions and model deal documents. The seminar will be highlighted by guest lectures by private equity and venture capital investment professionals. Grades will be based on a final exam, short pre-class exercises and class participation. PREREQUISITE: Corporations (May be waived with an instructor's permission.) UPPER-CLASS WRITING REQUIREMENT: This class may not be used to satisfy the requirement. GRADING NOTICE: This class does not offer the CR/NC/H option. ** A student who fails to attend the initial meeting of a seminar (designated by an (S) in the title), or to obtain permission to be absent from either the instructor or the Registrar, may be administratively dropped from the seminar. Students who are on a wait list for a seminar are required to attend the first seminar meeting to be considered for enrollment.

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Climate changes, corporate scandals and inequality have put environmental, social and governance (ESG) issues of corporations in the spotlight. Many investors and other corporate stakeholders believe that these issues have a financial impact. In addition, investors are becoming more and more focused on the impact of their investments on society and the environment. These investment strategies are evolving rapidly and asking lawyers and regulators to address novel issues and reconsider issues that seemed settled. In this course, we will discuss the role of corporations, non-profits, investment funds and development finance institutions (DFIs) in this context. We will analyze how these strategies affect fiduciary duties and disclosure requirements. We will examine the tools that are available to implement these strategies such as: impact investment, blended finance, pay-for-success, public benefit corporations, and active shareholder engagement. After completing this course, students will develop an understanding of the different sustainable investment strategies and players in the industry, become familiar with the typical legal issues that arise in the sustainable finance industry and with some of the tools that are being used. PREREQUISITE/COREQUISITE: Corporations. GRADING NOTICE: This class does not offer the CR/NC/H option.

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