UNC Kenan-Flagler Business School

Shaping Leaders, Driving Results

UNC Kenan-Flagler Business School

Capital Markets & Investments

Overview

The concentration in Capital Markets and Investments (CMI) is designed to prepare students for positions on both the buy and sell side of the capital markets, including corporate treasury, securities analysis and portfolio management, sales and trading, and personal client services. The required curriculum includes both a rigorous theoretical component and a demanding applied component. Courses are structured to provide students a nearly comprehensive preparation for the Chartered Financial Analyst (CFA) program. Many CMI concentrators choose to apply to the Applied Investment Management (AIM) course in which students manage a real portfolio of financial assets.  Historically, UNC Kenan-Flagler has placed about 15 percent of the graduating class in positions involving capital markets and investment. The school has alumni in all global financial centers and major financial institutions.

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Concentration Team

The coordinator for the Capital Markets and Investment concentration is Alex Arapoglou (, 919-962-0912). Faculty members teaching in the concentration are Alex Arapoglou, Gregory Brown, Ricardo Colacito, Bob Connolly, Diego Garcia, Eric Ghysels, Mustafa Gultekin, Pat Hartley, Anh Le, Chip Snively, and Mark Yusko.

Concentration Leader and Curriculum Advisor: Alex Arapoglou
Career Advisors: Alex Arapoglou, Kris Hergert, Gregory Brown

Advisory Board

The CMI curriculum is constantly evolving to keep pace with changing industry practices. The faculty relies on an advisory board made up of leading industry professionals to recommend curriculum changes and provide a network for career placement. 

Current advisory board members include:

  • Patrick Hartley, Senior Vice President, Morgan Stanley/Greystone Consulting
  • Michael Hussey, Executive Vice President, Bufka & Rogers LLC
  • Gregg Ireland, Capital Research & Management Company
  • Kevin M. Johnson, Aronson+Johnson+Ortiz, LP
  • Stanley Kon, Executive Vice-President and Director of Research, Smith Breeden Associates
  • Robert H. Litzenberge, Executive Director, Azimuth Trust
  • James M. Pellicane, Jr, Managing Director, Global Debt Markets Global, Merrill Lynch
  • William T. Reynolds, Managing Director (retired), T. Rowe Price Associates, Inc.
  • Doug Williams, Portfolio Manager and Director of Research, Evergreen Investment Management Co., LLC

Concentration Requirements

In addition to the core courses required of all students, CMI students must complete the following courses or otherwise demonstrate proficiency of the material covered in the course.[1] 

Finance and Accounting Courses Required for CMI Concentrators

  • MBA 792A, Investments (required in first year)
  • MBA 786A, Quantitative Methods in Finance (required in first year)
  • MBA 793A, Portfolio Management (required in first year)
  • *MBA 791, Fixed Income
  • *MBA 791A, Current Topics in Finance
  • *MBA 783, Introduction to Derivatives
  • *MBA 784, Applied Derivatives
  • *MBA 793D, Alternative Investments
  • *MBA 797, Risk Management
  • *MBA 792B, Hedge Fund Strategies

Other Suggested Electives

  • *MBA 779, Applied Investment Management (highly recommended – apply in January of 1st Year)
  • MBA 733, Financial Statement Analysis (highly recommended)
  • MBA 796, Global Financial Markets
  • MBA 738C, Topics in Financial Reporting
  • MBA 739, Complex Deals
  • MBA 780, Applied Corporate Finance
  • MBA 777, Fundamental Principles of Corporate Finance
  • *MBA 789, Mergers and Acquisitions
  • MBA 846A, Private Equity
  • MBA 853E, Financing Real Estate in Today’s Capital Markets
  • MBA 735, Taxes in Finance
  • MBA 792D, Behavioral Finance

*This course has a pre-requisite

[1] For example, students who have passed the CFA Level III exam may place out of the Portfolio Management, Quantitative Methods in Finance, and Fixed Income courses.    

Sample Concentration Sequence

Year One

 

Module I

Module II

Module III

Module IV

Required

MBA Core Curriculum

MBA Core Curriculum

Investments (Mod III - IV)

Quantitative Methods in Finance

Portfolio Management

Electives

N/A

Applied Investment Management

Financial Statement Analysis

Year Two

 

Module I

Module II

Module III

Module IV

Required & Electives

Applied Investment Management (Mod I – IV)

  • Intro to Derivatives
  • Fixed Income
  • Applied Derivatives
  • Current Topics in Finance
  • Alternative Investments
  • Risk Management
  • Hedge Fund Strategies
  • Financial Statement Analysis

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