Ends on June 5, 2018

This website is where you apply for the three core courses in the Value Investing Concentration

- ECON 167: Value Investing (Fall 2018)

- ECON 168: History of Financial Crises (Fall 2018)

- ECON 169: Applied Value Investing (Winter 2019)

If your application is accepted, we will enroll you in Econ 167/168 (Fall 2018) and Econ 168 (Winter 2019) directly with the Registrar. 

The Value Investing Concentration and the application procedure are described below. Please direct all questions to Program Manager, Humberto Merino-Hernandez @ hmhernandez@econ.ucla.edu


In order to further strengthen our finance curriculum, the Economics Department is excited to announce the academic concentration in Value Investing!

What is Value Investing?

Value investing is a time-tested and proven investment methodology that is fundamentally different from conventional security analysis. Founded by super-investors Benjamin Graham and Warren Buffett, Value Investing focuses on determining the intrinsic value of a company based on its current and historical financial statements. An investment is worthwhile only if there is a strong set of competitive advantages within the business and if a significant margin of safety exists between the company’s intrinsic value and its market price.

How will this concentration help my investment career?

A student graduating from this concentration will understand the full set of fundamental economic and strategic forces that favor or disfavor a particular investment opportunity. Thus, students will be prepared for a wide range of careers within private equity, distressed debt firms, and actively managed mutual funds. Courses are taught by our “Investors in Residence,” a series of guest lecturers including C-suite executives from some of the nation’s largest endowments, hedge funds, mutual funds, and private equity firms. Additionally, the core courses include “Financial Modeling Academies” where students hone their accounting, finance, and Excel skills through interactive modeling workshops.

What are the concentration requirements?

Students admitted into the concentration will be expected to complete the following:

Value Investing Concentration Pre-Requisites: In addition to the full set of lower division requirements for the Economics or Business Economics Major, Value Investing Concentration applicants must also satisfy the following before commencing the concentration:

- ECON 101: Microeconomic Theory

- MGMT 1A: Principles of Accounting I

- MGMT 1B: Principles of Accounting II


Value Investing Concentration Core Courses (students accepted into the concentration will be automatically enrolled into the following three core courses):

- ECON 167: Value Investing (Fall 2018)

- ECON 168: History of Financial Crises (Fall 2018)

- ECON 169: Applied Value Investing (Winter 2019)


Value Investing Concentration Electives – Two from:

- ECON 106F: Corporate Finance

- ECON 106P: Pricing and Strategy

- ECON 106V: Investments

- MGMT 180: Real Estate Finance and Investment 

- MGMT 126: Financial Statement Analysis 

- ECON 165: History of Capitalism in the American Economy

- ECON 181: Development of Economic Institutions in Western Europe

 

Financial Modeling Academies

Value Investing Concentrators will also be required to attend four Saturday intensive Financial Modeling Academies covering critical valuation techniques used in the investments industry. Each academy below lasts approximately 8 hours and is taught by “Investors in Residence” through real world examples/case studies:

- Modeling 1: Discounted Cash Flow Analysis 

- Modeling 2: Merger Consequences Analysis 

- Modeling 3: Leveraged Buyout Analysis 

- Modeling 4: Special Situations

 

How To Apply – Value Investing Concentration

Application Requirements:

· Online Application Form (Submittable)

· Cover Letter (1-Page) 

· Resume (1-Page)

· Unofficial Transcript

· Essay Response (1-2 Pages): Describe your academic and career interests, and explain how and why the Value Investing Program would help you to explore them.

 

Application Timeline:

· Tuesday, May 15th, 2018 by 5:00 p.m. - Applications Sent to Students

· Tuesday, June 5th, 2018 at 12:00 p.m. - Applications Due


Application Review:

· Student applications will be reviewed by the Value Investing Program admissions committee.

· At the admissions committee discretion, phone/in-person interviews may also be scheduled. 

· Students will be notified of their acceptance on Friday, June 22, 2018 by 5:00 p.m. via email. All decisions are final.
 








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