FIN 660 at the University of Maryland Global Campus is a three-credit graduate course described as an integrative study of financial management through applied problems and case studies. UMGC lists FIN 610 as the prerequisite.
The catalog names a wide set of topics, from capital investment and intangibles to value-based management, governance and the effect of information technology on financial systems. A finance simulation is used as the integrating mechanism.
The course is hard because nothing is isolated. A decision about growth affects financing, which affects risk, which affects value. Strong answers connect the pieces and explain why a number matters for strategy, not just how it was calculated.
Course at a Glance
| Item | Details |
|---|---|
| University | University of Maryland Global Campus (UMGC) |
| Course code | FIN 660 |
| Credits | 3 |
| Level | Graduate |
| Prerequisite | FIN 610 |
| Approach | Applied problems, case studies and a finance simulation |
What FIN 660 Covers
| Catalog topic | What to be ready to discuss |
|---|---|
| Capital investment decisions | Choosing projects and justifying them with value |
| Intangibles and value creation | How brands, knowledge and relationships add value |
| Financial performance metrics | Which measures show whether strategy is working |
| Strategic planning and control | Linking budgets and targets to strategy |
| Strategic valuation and growth | Which growth options increase value |
| Restructuring financial processes | Redesigning how finance operates |
| Governance, ethics, value-based management | Aligning decisions and incentives with owners' value |
| Strategic cost management and IT | Managing costs and systems that support decisions |
Key Ideas with Worked Examples
Value-Based Management
Value-based management judges decisions by whether returns exceed the cost of capital. A common measure is economic profit: operating profit after tax minus a charge for the capital used.
Example: A division earns $1.2 million after tax on $10 million of capital, with a 10 percent cost of capital. The capital charge is $1.0 million, so economic profit is $0.2 million. If the division grew capital to $14 million at the same profit, the charge would be $1.4 million and economic profit would turn negative, even though accounting profit stayed unchanged.
Linking Strategy to Metrics
A metric should reflect the strategy it monitors. A growth strategy might track revenue from new products and return on new capital; a cost leadership strategy might track unit cost. Explain why each metric was chosen and what action it would trigger.
Integrating Through a Simulation
Simulations reward consistent reasoning across rounds. Keep a log of decisions and results, and review what each outcome says about your assumptions before the next round.
Typical Assignments and How to Approach Them
UMGC does not list assessments for FIN 660 on its public page. The table shows the kinds of work an integrative course normally uses; follow your syllabus.
| Assignment type | What it tests | Approach |
|---|---|---|
| Case study analysis | Integrating several finance areas | Diagnose the problem first, then use only the tools it needs |
| Simulation rounds and report | Consistent strategic decisions | Record assumptions and review results each round |
| Strategic financial plan | Linking strategy to targets and controls | Tie each target to a metric and an owner |
| Governance or ethics discussion | Judgment and values | Use a real example and reason from stakeholder impact |
Working Through a Simulation Round
UMGC says a finance simulation integrates the course. Your instructions will describe the specific simulation, so treat the routine below as a general habit.
| Step | Action |
|---|---|
| Before the round | Write the strategy in two sentences and the metric that will show whether it is working |
| During the round | Record each decision and the reason |
| After the round | Compare results with expectations and note the cause of any gap |
| Next round | Change one thing at a time so you can learn from it |
This log doubles as raw material for the reflective or analytical write-up, because it shows reasoning rather than only results.
A Second Example: Linking a Growth Option to Value
A firm can spend $4 million to open a new market. Forecast incremental after-tax cash flows are $1.2 million a year for five years, and the firm's relevant discount rate is 12 percent. The annuity factor is about 3.6048, so the present value is about $4.33 million and NPV is about $0.33 million.
The number is positive but thin. A strategic answer adds what the figures cannot show: whether the market opens other options, how reliable the sales forecast is and what a one-year delay would do. That is the integration the course aims for.
Where Students Get Stuck
- Using every tool. A long list of calculations without a point; choose the ones the case needs.
- Intangibles. Hard to measure, so students skip them; explain how they would show up in future cash flows.
- Short-term thinking in the simulation. Early profit can come at the cost of later value.
- Ethics as an afterthought. Governance questions deserve evidence, not slogans.
Study Tips for FIN 660
- Revisit your FIN 610 to FIN 645 notes and keep one page of formulas and when to use each.
- Start every case with a two-line statement of the problem.
- Keep a decision log for the simulation with the reason behind each choice.
- End each answer with a recommendation and its main risk.
How We Help with FIN 660
Send the case, simulation instructions and rubric. A finance writer can prepare a custom worked answer, or review your draft for logic, integration and clarity. See our finance assignment help guide as well.
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Frequently Asked Questions
UMGC lists FIN 610.
The catalog says a finance simulation is used as an integrating mechanism; your syllabus will describe how it works and how it is graded.
The description calls it an integrative study, but check your program plan for where it sits.
Yes. Corporate governance and ethics are listed topics.
Applied problems normally involve calculation tools; check your syllabus for the required software.
Yes. Send the draft and prompt and we give written feedback on reasoning, structure and numbers.