Master of Security Analysis and Portfolio Management (MSAPM) Course Descriptions

The curriculum of the MSAPM is designed around the three levels of the Chartered Financial Analyst® (CFA®) exam1 and can help prepare students to take these challenging tests. Applicants must have a baccalaureate degree in business from an accredited institution of higher learning and/or significant work experience in the field of finance. The MSAPM program consists of 30 credit hours made up of nine core classes and an elective.

Core Courses

MSA 717 Ethical & Professional Standards I (1 credit)
An intensive study of the CFA® Institute Code of Ethics and Standards of Professional Conduct as well as readings drawn primarily from the CFA Level I curriculum. This course emphasizes the importance of ethical behavior in the financial services industry. Students will apply knowledge of the CFA® Institute Code of Ethics and Standards of Professional Conduct to recognize and avoid unprofessional practices and violations of the Code and Standards.

MSA 718 Ethical & Professional Standards II (1 credit)
An intensive study of the CFA® Institute Code of Ethics and Standards of Professional Conduct as well as readings drawn primarily from the CFA Level II curriculum.

MSA 719 Ethical & Professional Standards III (1 credit)
An intensive study of the CFA® Institute Code of Ethics and Standards of Professional Conduct as well as readings drawn primarily from the CFA Level III curriculum. This course emphasizes the importance of ethical behavior in the financial services industry.

MSA 722 Fixed Income and Derivatives I (3 credits)
A study of fixed income investments, including basic characteristics of bonds in alternative sectors, valuation tools, and factors that influence bond yields. Also includes a study of derivative investments, including forwards, futures, options, and swaps.

MSA 723 Quantitative Analysis I (2 credits)
This course covers the basic tools necessary for advanced security analysis. First, basic concepts such as the time value of money and computing returns and yields are covered. Second, the course addresses elementary statistical topics such as descriptive and inferential statistics as well as the use of statistical tests and frequency distributions. Finally, students will perform hypothesis tests and apply measures of statistical significance.

MSA 725 Quantitative Analysis II (1 credit)
The objectives of this course cover advanced financial and statistical topics. Topics include the basics of correlation and simple linear regression plus multiple regression and issues in regression analysis. Students will also test models for heteroskedasticity, serial correlation, and multicollinearity before moving on to time series analysis and an examination of linear trends, log-linear trends, and AR models.

MSA 728 Corporate Finance (3 credits; elective)
A study of capital budgeting concepts and analysis, capital structure issues, cost of capital, dividend policy considerations, and the market for corporate control. Discusses how corporate finance concepts, such as cash flow, liquidity, leverage, cost of capital, and dividends, are used in the valuation process.

MSA 730 Financial Statement Analysis I (3 credits)
A study of financial accounting procedures and the rules that govern disclosure. Emphasis is placed on basic financial statements and how alternative accounting methods affect those statements, the analysis of financial statement relationships, and the implications of alternative accounting methods for financial analysis and valuation.

MSA 732 Capital Markets (3 credits)
A study of macroeconomic and microeconomic principles, including the key components of economic activity, macroeconomic theory and policy. Also a study of equity investments, including securities markets, efficient market theory, the analysis of equity risk and return (for industries and companies), and technical analysis.

MSA 734 Equity Analysis (3 credits)
A study of the concepts and techniques that are basic to the valuation of equity securities.

MSA 736 Fixed Income and Derivatives II (3 credits)
A study of methods to estimate risk and returns for fixed income instruments, analyze fixed income instruments with unique features, and value fixed income instruments with embedded options. Discusses the valuation of futures, forwards, options, and swaps. MSA 722 is a prerequisite for this course.

MSA 738 Advanced Financial Analysis (3 credits)
The first part of this course covers financial statement analysis topics including inventories, long-lived assets, intercorporate investments, accounting for pensions and other post-employment benefits, and accounting for multinational operations. These topics are tied into a discussion of the assessment of earnings quality. The second part of the course is an introduction to portfolio management. This includes a study of portfolio concepts, various asset pricing models, security and capital market theory, as well as the practical applications in foreign markets.

MSA 739 Asset Management within a Portfolio Context (3 credits; elective)
This class addresses the basics of portfolio construction and management. Students will examine the role each of the following play in the portfolio management process: equities, alternative asset classes, fixed income and global bonds. In addition, students will examine risk management both in an enterprise context as well as within a portfolio context using futures, forwards, options and swaps. The class wraps up with how all this portfolio performance is presented to the client in the format of the Global Investment Performance Standards.

MSA 740 Portfolio Management (3 credits)
A capstone course designed to enforce student knowledge and understanding of the security analysis and portfolio management process. Prerequisite: Last semester or last nine hours of enrollment in the MSAPM program.

1CFA Institute® does not endorse, promote, or warrant the accuracy or quality of the products or services offered by Creighton University. CFA Institute®, CFA®, and Chartered Financial Analyst® are trademarks owned by CFA Institute®. The CFA Institute® is the sole grantor of the CFA® Charter designation.