Finance (Non-Thesis) (M.M.) (45 credits)
Offered by: Management (Desautels Faculty of Management)
Degree: Master of Management
Program credit weight: 45
Program Description
The Master of Management in Finance; Non-Thesis (MMF) is a flexible-length specialized program that focuses on investment and corporate finance. The program can be completed in 12, 16 or 20 months.
Required Courses (21 credits)
| Course | Title | Credits |
|---|---|---|
| ACCT 604 | Financial Statements 1. | 3 |
Financial Statements 1. Terms offered: Summer 2026, Fall 2026 Explores financial reporting and statement analysis, focusing on extracting and interpreting financial and non-financial information to assess and forecast firm performance. Covers accounting principles, major financial statements, ESG metrics, management biases, fraud detection, major financial patterns, and valuation. Evaluation of firm performance and application of valuation techniques. | ||
| FINE 679 | Corporate Finance Theory. | 3 |
Corporate Finance Theory. Terms offered: Summer 2026, Fall 2026 Framework for analyzing the investment and financial decisions of corporations. Capital structure decision and its effect on the value of a firm. Valuation with an emphasis on the benefits and limitations of the different valuation methods. | ||
| FINE 680 | Investments. | 3 |
Investments. Terms offered: Fall 2026, Winter 2027 Financial markets, portfolio theory, and portfolio management. | ||
| FINE 681 | International Capital Markets. | 3 |
International Capital Markets. Terms offered: Fall 2026, Winter 2027 Development of a few simple, but powerful economic principles to understand the role,structure, and functioning of capital markets and institutions around the world. Analyses functions and structure of the financial system, central bank and monetary policy, financial crises, and major securities markets (e.g., equity, bond, mortgages) and participants. Emphasizes the role of banks, shadow banks, and the regulatory environment, as well as the fund industry, and the role that financial markets and institutions play in the governance of firms. | ||
| FINE 682 | Derivatives. | 3 |
Derivatives. Terms offered: Winter 2027 Introduction to derivatives markets, focusing on the review of institutional features of derivatives contracts, the valuation, the hedging and the use of popular derivatives such as options, futures, and interest rate derivatives. Fundamental valuation, practical applications, and examples on how these contracts are used in the financial industry. The risks and governance concerns associated with the use of financial derivative contracts. | ||
| FINE 684 | Fixed Income Analysis. | 3 |
Fixed Income Analysis. Terms offered: Winter 2027 Fixed income financial instruments and their uses for financial engineering and risk management. | ||
| FINE 688 | Mergers and Acquisitions. | 3 |
Mergers and Acquisitions. Terms offered: Fall 2026 Mergers and acquisitions, and corporatere organizations and restructuring, including leveraged buyouts and restructuring in financial distress/bankruptcy. Corporate governance as an organizing framework and how corporate control is exercised, influenced, and changed. | ||
Complementary Courses (24 credits)
12 credits from:
| Course | Title | Credits |
|---|---|---|
| ACCT 605 | Financial Statements 2. | 3 |
Financial Statements 2. Terms offered: this course is not currently offered. The company valuation process. Establish frameworks using public data. | ||
| FINE 674 | Fintech. | 3 |
Fintech. Terms offered: Fall 2026 Explores how digital technologies and business model innovation are reshaping finance. Covers alternative financing models such as crowdfunding and token offerings, along with developments in payments, digital currencies, digital ledger technologies (both permissioned and permissionless), smart contracts, the oracle problem, and tokenization. Covers core concepts and draws on research insights. Addresses financial inclusion and other ESG-related challenges in this context, and includes a team project related to these themes. | ||
| FINE 677 | Trading and Markets | 3 |
Trading and Markets Terms offered: Summer 2026 A focus on how securities are traded, covering theoretical and practical aspects of trading. Topics include market structure, regulation, trader behaviour, liquidity, volatility, and the roles of different market participants. Exploration of algorithmic and high-frequency trading using Rotman Interactive Trader software. Emphasis on execution and measurement of trading strategies, with hands-on work in Python. | ||
| FINE 678 | Financial Economics. | 3 |
Financial Economics. Terms offered: Summer 2026 Foundational tools for corporate finance and investments, starting with elementary financial mathematics and valuation tools with a focus on the net present value and its application to the capital budgeting decision. Historical evidence on the risk-return relationship and the capital asset pricing model. Fundamental rules for successful investing, including modern portfolio theory and the principles and limitations of ESG investing. Introduction to the capital structure decision. | ||
| FINE 683 | Advanced Corporate Finance. | 3 |
Advanced Corporate Finance. Terms offered: Winter 2027 Introduction to startups with an emphasis on the institutions and practices employed in the venture capital industry. Alternative funding channels (e.g., angel investors) and, most importantly, alternative viewpoints and interests (e.g., entrepreneurs, employees, advisory). | ||
| FINE 685 | Market Risk Management. | 3 |
Market Risk Management. Terms offered: this course is not currently offered. Measuring and managing risks facing corporations, focusing on aspects of market risks. | ||
| FINE 686 | Global Corporate Finance. | 3 |
Global Corporate Finance. Terms offered: Summer 2026 Multinational financial management, including quantitative approach to tackle issues currently faced by multinational corporations and all enterprises interested in accessing global markets. | ||
| FINE 687 | Global Investments. | 3 |
Global Investments. Terms offered: this course is not currently offered. Top-down portfolio management skills, including basic understanding of the global investment approach. | ||
or any other relevant 600-level courses offered by Desautels Faculty of Management with permission of the Program Adviser.
12 credits from:
| Course | Title | Credits |
|---|---|---|
| FINE 670 | Fundamentals of Financial Research. | 3 |
Fundamentals of Financial Research. Terms offered: Summer 2026 Research methodology, where a research project will be carried out under the supervision of the Faculty supervisor. Specific tools will be tailored based on a particular research topic and the recommendations of the supervisor. | ||
| FINE 671 | Applied Finance Project. | 9 |
Applied Finance Project. Terms offered: Winter 2027 Research project supervised by a Faculty member of the Desautels Faculty of Management. | ||
| FINE 671D1 | Applied Finance Project. 1 | 4.5 |
Applied Finance Project. Terms offered: Winter 2027 Research project supervised by a Faculty member of the Desautels Faculty of Management. | ||
| FINE 671D2 | Applied Finance Project. 1 | 4.5 |
Applied Finance Project. Terms offered: Summer 2026 For course description see FINE 671D1. | ||
| FINE 671N1 | Applied Finance Project. 1 | 4.5 |
Applied Finance Project. Terms offered: this course is not currently offered. Research project supervised by a Faculty member of the Desautels Faculty of Management. | ||
| FINE 671N2 | Applied Finance Project. 1 | 4.5 |
Applied Finance Project. Terms offered: this course is not currently offered. For description see FINE 671N1. | ||
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Note: Choose either FINE 671 Applied Finance Project. or FINE 671D1 Applied Finance Project./FINE 671D2 Applied Finance Project. or FINE 671N1 Applied Finance Project./FINE 671N2 Applied Finance Project.
Or
| Course | Title | Credits |
|---|---|---|
| FINE 689 | Integrative Finance Project. | 12 |
Integrative Finance Project. Terms offered: Summer 2026, Fall 2026, Winter 2027 Supervised research project. | ||
| FINE 689N1 | Integrative Finance Project. | 6 |
Integrative Finance Project. Terms offered: this course is not currently offered. Supervised research project. | ||
| FINE 689N2 | Integrative Finance Project. | 6 |
Integrative Finance Project. Terms offered: this course is not currently offered. Integrative Finance Project. | ||