FIN 455
Financial Modelling
Fall 2026
Topics
- Introduction to financial modelling
- Excel essentials
- Excel functions for modelling and finance
- Spreadsheet model building
- Corporate valuation models. Enterprise value. Cost of capital
- Capital structure. WACC. DCF models. NAV models
- Pro-forma financial statement preparation
- Corporate transactions. IPO. M&A. LBO. Distressed equity
- Portfolio management. Mean variance analysis
- Building efficient portfolios
- Model quality. Sensitivity and scenario analyses. Data tables
- Quality management. Guidelines and standards
- Introduction to macros, buttons, and VBA
- Macros, buttons, VBA
- Data retrieval
- Options and real options
- Visualization
- Bond duration. Immunization. Term structure models
- Time series models. Stock price trading models
- Probabilistic models. Value at risk
Readings
- Simon Benninga and Tal Mofkadi, Financial Modeling, 5th Ed., 2022, Massachusetts Institute of Technology, ISBN 9780262046428 (hardcover) or 9780262368247 (eBook)ISBN 9780262046428
- Or the previous edition:
- Simon Benninga, Financial Modeling, 4th Ed., 2014, Massachusetts Institute of Technology, ISBN 9780262027281 (hardcover)ISBN 9780262027281
- John Tjia, Building Financial Models, 3rd Ed., McGraw Hill, ISBN-13: 9781260108828 Danielle Stein Fairhurst, Using Excel for Business Analysis, 2015, Wiley International, ISBN 9781119062462ISBN 9781119062462
- Jack Avon, The Basics of Financial Modelling, 2015, Apress, ISBN 9781484208724ISBN 9781484208724
- Isaac Gottlieb, Next Generation Excel - Modeling in Excel for Analysts and MBAs, Second Edition, 2013, Wiley, ISBN 9781118469101ISBN 9781118469101
- Jonathan Swan, Practical Financial Modelling: The Development and Audit of Cash Flow Models, 3rd Ed., 2015, Butterworth-Heinemann, ISBN 9780081005873ISBN 9780081005873
Winter 2026
Topics
- Introduction to financial modelling
- Excel essentials
- Excel functions for modelling and finance
- Spreadsheet model building
- Corporate valuation models. Enterprise value. Cost of capital
- Capital structure. WACC. DCF models. NAV models
- Pro-forma financial statement preparation
- Corporate transactions. IPO. M&A. LBO. Distressed equity
- Portfolio management. Mean variance analysis
- Building efficient portfolios
- Model quality. Sensitivity and scenario analyses. Data tables
- Quality management. Guidelines and standards
- Introduction to macros, buttons, and VBA
- Macros, buttons, VBA
- Data retrieval
- Options and real options
- Visualization
- Bond duration. Immunization. Term structure models
- Time series models. Stock price trading models
- Probabilistic models. Value at risk
Readings
- Simon Benninga and Tal Mofkadi, Financial Modeling, 5th Ed., 2022, Massachusetts Institute of Technology, ISBN 9780262046428 (hardcover) or 9780262368247 (eBook)ISBN 9780262046428
- Or the previous edition:
- Simon Benninga, Financial Modeling, 4th Ed., 2014, Massachusetts Institute of Technology, ISBN 9780262027281 (hardcover)ISBN 9780262027281
- John Tjia, Building Financial Models, 3rd Ed., McGraw Hill, ISBN-13: 9781260108828 Danielle Stein Fairhurst, Using Excel for Business Analysis, 2015, Wiley International, ISBN 9781119062462ISBN 9781119062462
- Jack Avon, The Basics of Financial Modelling, 2015, Apress, ISBN 9781484208724ISBN 9781484208724
- Isaac Gottlieb, Next Generation Excel - Modeling in Excel for Analysts and MBAs, Second Edition, 2013, Wiley, ISBN 9781118469101ISBN 9781118469101
- Jonathan Swan, Practical Financial Modelling: The Development and Audit of Cash Flow Models, 3rd Ed., 2015, Butterworth-Heinemann, ISBN 9780081005873ISBN 9780081005873
Sources
- Course catalogue ↗2026–2027
- 2025-Winter-FIN-455-LECTURE-B01 ↗2025
- 2025-Winter-FIN-455-LECTURE-B02 ↗2025
- 2026-Winter-FIN-455-LECTURE-B01 ↗2026
- 2026-Winter-FIN-455-LECTURE-B02 ↗2026
- 2026-Fall-FIN-455-LECTURE-A01 ↗2026
- Partial automated extraction.
- Partial automated extraction.