Course Description
Core Courses (30 credits for both Plan A and B)
MF610 Financial Analysis I: Financial Reporting
2 credits
Solid conceptual and practical foundation of financial accounting. Understanding the accounting equation, the principles and contents underlying financial statements. Accounting for decision-making, planning and control, and financial analysis. Understanding the tools available for security valuation by free cash flow analysis.
MF621 Capital Markets and Financial Institutions
3 credits
Basic introduction to the main features of financial institutions and markets in Thailand. Macroeconomic theories and the linkage to the capital market and the economy in general. The role of fiscal constraints and the interplay between monetary and fiscal policies.
MF630 Research Methodology in Financial Studies
3 credits
The development of research paper. Research process, research design, and research methodologies such as advanced econometrics. Setting research questions and objective, analysis of related literature, selecting theoretical framework, hypotheses formulation, and constructing research methodology. Preparing research topic and research proposal for independent study.
MF631 Computer Programming in Financial Research
2 credits
Prerequisite:
MF644 Equity Investment
MF650 Financial Engineering I: Derivative Pricing
Using MATLAB or SAS to solve research problems in finance and handle big data. Discussions on empirical methods in finance such as time series properties of returns and other market variables, event studies, linear regressions, and factor pricing models.
MF640 Financial Economic Theory
3 credits
An introduction to theoretical foundation of modern financial economic theory. Utility theory, decision making under uncertainty, single-period & multi period asset pricing models and general equilibrium pricing model. The concepts of stochastic processes, basic options, numerical techniques, stochastic integrals and differential equations, the Black- Scholes analysis. Understanding on how to price financial assets, conducting portfolio management and identifying investment opportunities in theoretical and applied issues in corporate finance.
MF641 Corporate Financial Theory
3 credits
Theories, empirical evidence, and applications of corporate financial policy. Consumption, investment and investment decision. The early part of the course will also cover capital budgeting under certainty and uncertainty, and in single-and multi-period cases. Capital structure, cost of capital, dividend policy, moral hazard, designs of contracts and securities, signalling, and asymmetric information. Mergers, acquisitions, corporate control, and related theoretical and applied issues in corporate finance.
MF642 International Finance
3 credits
Prerequisite: MF641 Corporate Financial Theory
International financial environment including the international monetary system, the balance of payments, and the international parity conditions. Foreign exchange exposure, global integration of money and capital markets, foreign direct investment, political risk, and international capital budgeting. Analysis of the international aspects of financial management.
MF643 Financial Econometrics I
3 credits
Estimation methods used in current financial market research including least square methods of estimation, maximum likelihood estimation method, and generalized method of moments (GMM). Least square methods include estimation method when any assumption is violated, how to perform diagnostic testing on multicollinearity, heteroscedasticity, and autocorrelation, specification error, and how to solve the problems. Advanced econometric models including time-series models, panel data models, and models with discrete and limited dependent variables. Using Econometrics software in estimating the models and interpreting the estimated results.
MF644 Equity Investment
3 credits
Prerequisite: MF641 Corporate Financial Theory
Financial theories and practices needed for equity market investment. Efficient market theory, risk and return measurement, determination of security value, formation of efficient portfolios, Capital Asset Pricing Model, Arbitrage Pricing Model, and portfolio performance measurement. Current relevant issues may be discussed at the discretion of the instructor.
MF645 Fixed-Income Security Investment
3 credits
Prerequisite: MF641 Corporate Financial Theory
The functions of domestic and international fixed-income securities markets. Fundamental concepts for fixed-income securities analyses including pricing, yields, duration and convexity, and term structure. Advanced analytical tools such as Binomial, Monte Carlo, and options-theoretic approaches are applied toward bonds with special features. Various types of fixed income portfolio strategies are explained. Public debt management, interest rate modelling, credit derivatives and risk management are briefly introduced.
MF650 Financial Engineering I: Derivatives Pricing
2 credits
Prerequisite: MF644 Equity Investment
The design, development, implementation of innovative financial instruments and processes, and formulation of creative solutions to problems in finance. Options, forward, futures and swap. Examining the creative thinking and problem solving processes. Advanced trading strategies and risk management to both option holders and option writers.
 
Thesis Track Requirement (15 credits)
MF800 Thesis
15 credits
Prerequisite:
(1) Students must earn at least 18 credits and
(2) Students must have a cumulative GPA of at least 3.00
Students who choose Plan A conduct and defend a research project. For each thesis, an advisor will be assigned. Depending on the advisor's recommendation, the approval of the proposal and completion of thesis will be made by the thesis committee appointed by the MIF program.
 
Non-Thesis Track Requirement (6 credits)
MF791 Independent Study I
3 credits
Prerequisite:
MF630 Research Methodology in Financial Studies
MF640 Financial Economics Theory
MF641 Corporate Financial Theory
A self-study course which explores the individual quest of knowledge in the area of finance. The advisor assigned by the program will supervise the study. A project is required and will be graded by the advisor. The project, with the advisor’s approval, may be a case study or empirical study, and will be the basis for the comprehensive examination of Plan B.
MF792 Independent Study II
3 credits
Prerequisite: MF791 Independent Study I
Continuing research from MF791 under advised supervision.
 
Non-Thesis Track Electives (9 credits)
Choose 9 credits from the following courses.
MF746 Financial Analysis II: Corporate Valuation
1.5 credits
Prerequisite:
MF610 Financial Analysis I: Financial Reporting
MF641 Corporate Financial Theory
The accounting concepts and techniques developed in MF 610 and to apply them to the valuation of equities in major industrial sectors. A set of competing models of corporate valuation applied in a variety of geographic, industrial and specialized circumstances requiring careful selection of appropriate valuation methods. Writing equity research reports required by major securities firms.
MF747 Treasury Management
1.5 credits
Prerequisite:
MF644 Equity Investment
MF645 Fixed-Income Security Investment
The short-term management of treasury functions in Corporations and financial institutions. Treasury management such as risk and return analysis in the environment of volatile interest rate and exchange rate, short-term asset and liability management, and risk management and hedging using financial derivatives.
MF749 Securitization
1.5 credits
Prerequisite: MF645 Fixed-Income Security Investment
Process of distributing risk of financial intermediaries through asset backed securities. The concept and creation of pass-through securities such as CMOs (Collateralized Mortgage Obligations) and CARs (Certificates for Automobile Receivables). The economic, institutional, accounting, and legal concerns of securitization.
MF755 Selected Topics in Finance I
1.5 credits
To pursue studies in some current issue of interests in Finance.
MF756 Selected Topics in Finance
1.5 credits
To pursue studies in some current of interest in Finance.
MF757 Financial Engineering II: Risk Management
1.5 credits
Prerequisite: MF650 Financial Engineering I: Derivatives Pricing
Measuring systemic risk according to BIS 1996. Application of “Value At Risk” measurement in banks, securities, and funds Model building to manage financial risk.
MF758 Special Topics in Finance I
1.5 credits
This course focuses on current issues or special topics of interests in finance.
MF759 Special Topics in Finance II
1.5 credits
This course focuses on current issues or special topics related to Finance.
MF766 Advanced Portfolio Management
1.5 credits
The basic portfolio management concept initiated by Markowitz in 1952 to the latest techniques. The scope is extended to the global and multi-period investment horizon. Advanced techniques in inputs estimation such as Stein Estimators are also discussed. Computer simulation by using actual data from the market.
MF767 Corporate Governance
1.5 credits

Prerequisite: MF641 Corporate Financial Theory
The theory, empirical evidence, and applications of corporate governance in Asian economies. The separation of ownership and control, legal environment, board of directors, investor activism, and stakeholder rights. The legal system: how regulation is used to support corporate governance, how different legal systems differ and how that affects corporate and market performance.

MF768 Financial Markets and Trading Strategies
1.5 credits
Prerequisite: MF650 Financial Engineering I: Derivatives Pricing
Market trading environment and how market microstructure influences intraday price dynamics. Algorithmic trading which is the use of mathematical models to detect and identify various signals in financial markets.
MF769 Structured Products
1.5 credits
Prerequisite:
MF645 Fixed-Income Security Investment
MF650 Financial Engineering I: Derivatives Pricing
Structured products in equity (such as ETFs), fixed income (such as interest rate products, mortgage-back securities), and derivatives (such as derivative warrants, Asian options, FX products). The basics of the product, economic benefits of using the products, how to use the products for purposes such as risk management or trading, and importantly how to design non-existing products from current securities to meet specific need.
MF777 Behavioral Finance
1.5 credits
Prerequisite: MF 644 Equity Investment
How psychological effect affects the investment decisions. Famous anomalies found in capital market will be explained by the new paradigm of behavioral finance that is more close to reality. The market where less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. Formulating trading strategy.
MF778 Financial Architecture
1.5 credits
Prerequisite: MF641 Corporate Financial Theory
Financial policy and strategy of financial architecture and design for firms. Corporate restructuring, financial restructuring, financial innovations, and corporate governance.