Doctoral-level courses cover theoretical models and their empirical application to problems related to corporate financing and investment decisions, security analysis, portfolio management, and financial institutions and capital markets. A required sequence of four courses is specifically designed for and limited to doctoral students. The unifying theme of this course work is an understanding of the process of asset valuation in a competitive securities market. Knowledge of calculus is assumed. In addition, students customarily employ the computer in their courses in security analysis and portfolio management. Research emphasizes application of theoretical models so that students enhance their understanding of the models as well as their knowledge of the fields to which models can be meaningfully applied.