BUD3 Finance 1: Financial Management is taught in the third semester and contributes to the overall theme of understanding how managers make decisions and create value for the firm. BUD3 will focus on the goals of the firm, and the role that corporate managers play in achieving the firm's goals. Furthermore, we will examine how investors and managers make investment decisions and the different valuation methods used in these processes. The discussion will include the corporate governance, time value of money, investment criteria (NPV, IRR, etc.), capital budgeting, stock and bond valuation, and the risk-return tradeoff in the context project evaluation. BUD3 will be an important stepping stone for BUD4.