Corporate Finance for Non-Finance Majors
The materials here are based upon the presentations that I developed and used over several years teaching "Corporate Finance for Non-finance Majors" at the Hofstra University Undergraduate Honors Program. The course was never designed or intended as a substitute for more comprehensive courses in corporate finance and valuation taught in business schools around the country. This was very much an introductory course, for individuals with little or no business or finance background.
I was motivated to put these materials together and to teach in the aftermath of the Great Financial Crisis which came to a head in 2008. I was extremely disappointed by the uninformed quality of the public discussion which followed.
In my opinion, we have enough MBAs, bankers and other finance types. What we don't have are enough informed citizens who can understand the world around them and make better informed decisions.
I have posted this on my website in the hope that someone may find something of value in its pages. I don't expect anyone to go through this from beginning to end. However, it is organized in discrete modules many of which can be reviewed and understood on their own.
I take responsibility for all the content. If you see something that you believe is in error, please let me know.
I want to thank all the authors whose works I have cited throughout these materials and many that I have not.
A special thank you to Professor Aswath Damodaran of New York University's Stern School of Business for the extraordinary work you do everyday and for your unlimited generosity in sharing your data and insights with both students and practitioners.