Undergraduate

15-3 Finance Course: Roadmap

This roadmap should be viewed as one plan for structuring your schedule. There is a lot of flexibility in when you take Course 15 classes. Even if you think it is too late to declare Course 15, email: ugeducation@sloan.mit.edu, or come see us in E52-150 (Suite 133).

—First Year Fall

	Course Title	Term
18.01	Calculus	Fall	0 Cr.
	18.01 Calculus Prereq: None Units: 5-0-7 Credit cannot also be received for 18.01A, CC.1801, ES.1801, ES.181A Differentiation and integration of functions of one variable, with applications. Informal treatment of limits and continuity. Differentiation: definition, rules, application to graphing, rates, approximations, and extremum problems. Indefinite integration; separable first-order differential equations. Definite integral; fundamental theorem of calculus. Applications of integration to geometry and science. Elementary functions. Techniques of integration. Polar coordinates. L'Hopital's rule. Improper integrals. Infinite series: geometric, p-harmonic, simple comparison tests, power series for some elementary functions.
Elective	Elective	Fall	0 Cr.
	Elective⁵ To be recommended for the degree of Bachelor of Science, students must have attended MIT not less than three regular academic terms, which ordinarily must include the term of graduation. In addition, students must have satisfactorily completed a program of study approved in accordance with the faculty regulations, which includes the General Institute Requirements (GIRs) and the departmental program of the Course in which the degree is to be awarded. Departures from the departmental programs are allowed with departmental permission. See the Schools section, as well as individual degree charts, for information about specific programs. Substitutions for GIR subjects are allowed only by petition. Petitions pertaining to the Communication Requirement must be directed to the Subcommittee on the Communication Requirement (SOCR), and petitions for any substitutions in the Humanities, Arts, and Social Sciences (HASS) Requirement must be directed to the Subcommittee on the HASS Requirement (SHR). The Committee on Curricula (CoC) considers petitions for substitutions in the Institute Laboratory Requirement and the Restricted Electives in Science and Technology (REST) Requirement. View Electives. Notes: ⁵75-81 additional units will be needed to accrue the 180 units beyond GIRs.
HASS	Humanities, Arts, and Social Sciences	Fall	0 Cr.
	As part of MIT’s General Institute Requirements, all undergraduates must complete the HASS Requirement. It consists of eight subjects of at least nine units each in the humanities, arts, and social sciences. Learning in the humanities, arts, and social sciences (HASS) is an indispensable part of your undergraduate education. The HASS Requirement provides you with opportunities to deepen your knowledge in a variety of cultural and disciplinary areas, practice critical thinking, and develop vital skills while trying something new. There are three components to the HASS Requirement: Distribution, Concentration, and HASS Electives. To stay on pace, we recommend that you take one HASS subject each semester during your four years at MIT. Two of the subjects you complete to fulfill the HASS Requirement may also count toward the Communication Requirement if they are also designated as CI‑H subjects. Plan to take at least one HASS subject each semester. One of your two HASS subjects should be designated as Communication Intensive (CI‑H or CI‑HW). Consider a HASS Exploration Subject (HEX).
Science GIR	Science Requirement	Fall	0 Cr.
	MIT expects its graduates to have an understanding and appreciation of the basic concepts and methods of the physical and biological sciences. These concepts and methods are needed in most degree programs at the Institute. More important, they are an essential part of the background that MIT graduates bring to their roles as professionals and as broadly educated citizens in a world strongly influenced by science and technology. Students begin with six science core subjects in mathematics, physics, biology, and chemistry, and then add the Laboratory and Restricted Electives in Science and Technology (REST) Requirements. These requirements introduce basic elements of the scientific method: experimental foundations and techniques, mathematical analysis, and conceptual models for experimental facts. Important experimental as well as conceptual aspects are introduced by the chemistry and biology requirements and by the Laboratory Requirement. Mathematical methods common to much of science and technology are explored in the mathematics requirement. Basic concepts that underlie many physical phenomena are defined and elucidated in the physics and REST requirements. In addition to a rigorous introduction to the sciences, these requirements are intended to stimulate and challenge each student to review critically their knowledge, and to explore alternative conceptual and mathematical formulations that may provide better explanations of natural phenomena or may lead to better applications of technology. The development of critical and constructive approaches to both theory and practice in science, engineering, and other professions is a central objective of the Institute's educational programs. More information on Science General Institute Requirements.

—First Year Spring

	Course Title	Term
18.02	Calculus	Spring	0 Cr.
	18.02 Calculus Prereq: Calculus I (GIR) Units: 5-0-7 Credit cannot also be received for 18.022, 18.02A, CC.1802, ES.1802, ES.182A Calculus of several variables. Vector algebra in 3-space, determinants, matrices. Vector-valued functions of one variable, space motion. Scalar functions of several variables: partial differentiation, gradient, optimization techniques. Double integrals and line integrals in the plane; exact differentials and conservative fields; Green's theorem and applications, triple integrals, line and surface integrals in space, Divergence theorem, Stokes' theorem; applications.
Elective	Elective	Spring	0 Cr.
	Elective⁵ To be recommended for the degree of Bachelor of Science, students must have attended MIT not less than three regular academic terms, which ordinarily must include the term of graduation. In addition, students must have satisfactorily completed a program of study approved in accordance with the faculty regulations, which includes the General Institute Requirements (GIRs) and the departmental program of the Course in which the degree is to be awarded. Departures from the departmental programs are allowed with departmental permission. See the Schools section, as well as individual degree charts, for information about specific programs. Substitutions for GIR subjects are allowed only by petition. Petitions pertaining to the Communication Requirement must be directed to the Subcommittee on the Communication Requirement (SOCR), and petitions for any substitutions in the Humanities, Arts, and Social Sciences (HASS) Requirement must be directed to the Subcommittee on the HASS Requirement (SHR). The Committee on Curricula (CoC) considers petitions for substitutions in the Institute Laboratory Requirement and the Restricted Electives in Science and Technology (REST) Requirement. View Electives. Notes: ⁵75-81 additional units will be needed to accrue the 180 units beyond GIRs.
HASS	Humanities, Arts, and Social Sciences	Spring	0 Cr.
	As part of MIT’s General Institute Requirements, all undergraduates must complete the HASS Requirement. It consists of eight subjects of at least nine units each in the humanities, arts, and social sciences. Learning in the humanities, arts, and social sciences (HASS) is an indispensable part of your undergraduate education. The HASS Requirement provides you with opportunities to deepen your knowledge in a variety of cultural and disciplinary areas, practice critical thinking, and develop vital skills while trying something new. There are three components to the HASS Requirement: Distribution, Concentration, and HASS Electives. To stay on pace, we recommend that you take one HASS subject each semester during your four years at MIT. Two of the subjects you complete to fulfill the HASS Requirement may also count toward the Communication Requirement if they are also designated as CI‑H subjects. Plan to take at least one HASS subject each semester. One of your two HASS subjects should be designated as Communication Intensive (CI‑H or CI‑HW). Consider a HASS Exploration Subject (HEX).
Science GIR	Science Requirements	Spring	0 Cr.
	MIT expects its graduates to have an understanding and appreciation of the basic concepts and methods of the physical and biological sciences. These concepts and methods are needed in most degree programs at the Institute. More important, they are an essential part of the background that MIT graduates bring to their roles as professionals and as broadly educated citizens in a world strongly influenced by science and technology. Students begin with six science core subjects in mathematics, physics, biology, and chemistry, and then add the Laboratory and Restricted Electives in Science and Technology (REST) Requirements. These requirements introduce basic elements of the scientific method: experimental foundations and techniques, mathematical analysis, and conceptual models for experimental facts. Important experimental as well as conceptual aspects are introduced by the chemistry and biology requirements and by the Laboratory Requirement. Mathematical methods common to much of science and technology are explored in the mathematics requirement. Basic concepts that underlie many physical phenomena are defined and elucidated in the physics and REST requirements. In addition to a rigorous introduction to the sciences, these requirements are intended to stimulate and challenge each student to review critically their knowledge, and to explore alternative conceptual and mathematical formulations that may provide better explanations of natural phenomena or may lead to better applications of technology. The development of critical and constructive approaches to both theory and practice in science, engineering, and other professions is a central objective of the Institute's educational programs. More information on Science General Institute Requirements.

—Sophomore Year Fall

	Course Title	Term
14.01 HASS or 15.0111	Principles of Microeconomics or Economic Analysis for Business Decision	Fall	0 Cr.
	14.01 Principles of Microeconomics Prereq: None Units: 3-0-9 Introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Applications to problems of current economic policy. 15.0111 Economic Analysis for Business Decision³ (Subject meets with 15.011) Prereq: None Units: 4-0-5 Introduces principles of microeconomics as a framework for making more informed managerial decisions. Discusses the supply and demand paradigm with applications to digital marketplaces, innovation, sources of market power, and strategic pricing. Provides an introduction to game theory to study competition and cooperation both within and between firms. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details. Intended for undergraduate students; not open to Sloan MBA students. Notes: ³14.01 is a HASS subject. 15.0111 is not a HASS subject. Students who take 15.0111 will need to take an additional HASS course. Subjects that fulfill both Course 15-3 and GIR requirements are in bold.
15.069 or 18.05 or 14.30 [REST] Choose one of these courses	Applied Probability and Statistics	Fall	0 Cr.
Choose one of these courses	15.069 Applied Probability and Statistics [REST²] Prereq: Calculus I (GIR) Units: 4-0-8 Presents probability from the perspective of applied mathematics, with strong emphasis on an intuitive overview of key theorems and continuing demonstrations of their usefulness. Covers the laws of probability and numerous important discrete and continuous random variables, both individually and in combination. Introduces simulation. Offers an introduction to statistics that emphasizes its probabilistic foundations and the fact that statistical reasoning is applied common sense. Covers hypothesis testing, statistical sampling, and various forms of regression analysis. Draws applications from economics, finance, engineering, marketing, public policy, operations management, and operations research. 18.05 Introduction to Probability and Statistics [REST²] Prereq: Calculus II (GIR) Units: 4-0-8 Elementary introduction with applications. Basic probability models. Combinatorics. Random variables. Discrete and continuous probability distributions. Statistical estimation and testing. Confidence intervals. Introduction to linear regression. 14.30 Introduction to Statistical Methods in Economics [REST²] (Subject meets with 14.300) Prereq: Calculus II (GIR) Units: 4-0-8 Self-contained introduction to probability and statistics with applications in economics and the social sciences. Covers elements of probability theory, statistical estimation and inference, regression analysis, causal inference, and program evaluation. Couples methods with applications and with assignments involving data analysis. Uses basic calculus and matrix algebra. Students taking graduate version complete additional assignments. May not count toward HASS requirement. Notes: ²Contact the Sloan Undergrad Office for alternative options for the Probability & Statistics requirement. Please note, the course or courses MUST cover both Probability and Statistics in depth similar to 15.069. Course 15/6 and 15/14 double majors can petition Course 6/Course 14 to count 15.069 as a substitute for 14.30 or 18.05. Subjects that fulfill both Course 15-3 and GIR requirements are in bold.
15.501	Corporate Financial Accounting	Fall	0 Cr.
	15.501 Corporate Financial Accounting Prereq: None Units: 3-0-9 Credit cannot also be received for 15.516 Preparation and analysis of financial statements. Focuses on why financial statements take the form they do, and how they can be used in evaluating corporate performance and solvency and in valuation of corporate securities. Introduces concepts from finance and economics (e.g., cash flow discounting and valuation) and explains their relation to, and use in, accounting. Students taking the graduate version complete additional assignments.
HASS	Humanities, Arts, and Social Sciences	Fall	0 Cr.
	As part of MIT’s General Institute Requirements, all undergraduates must complete the HASS Requirement. It consists of eight subjects of at least nine units each in the humanities, arts, and social sciences. Learning in the humanities, arts, and social sciences (HASS) is an indispensable part of your undergraduate education. The HASS Requirement provides you with opportunities to deepen your knowledge in a variety of cultural and disciplinary areas, practice critical thinking, and develop vital skills while trying something new. There are three components to the HASS Requirement: Distribution, Concentration, and HASS Electives. To stay on pace, we recommend that you take one HASS subject each semester during your four years at MIT. Two of the subjects you complete to fulfill the HASS Requirement may also count toward the Communication Requirement if they are also designated as CI‑H subjects. Plan to take at least one HASS subject each semester. One of your two HASS subjects should be designated as Communication Intensive (CI‑H or CI‑HW). Consider a HASS Exploration Subject (HEX).

—Sophomore Year Spring

	Course Title	Term
15.417 [CI-M. LAB] or 15.401	Laboratory in Investments	Spring	0 Cr.
	15.417 Laboratory in Investments [ CI-M. LAB]¹ Prereq: None Units: 3-3-9 Introduction to finance with a lab component that puts theory into practice. Designed to build effective decision-making skills for business and to develop hands-on analytical techniques that are used by investment managers and traders. Lectures provide a firm grounding in financial analysis--determining the value of a decision, deciding how to finance a project, and assessing its risk. Lab sessions introduce students to modern tools and methods used in financial markets. Through team projects, students develop and test asset-pricing models, forecasting methods, and investment strategies using real-world market data. Provides instruction in writing and speaking from a financial perspective. Meets with 15.401 when offered concurrently. 15.401 Managerial Finance¹ Prereq: None Units: 4-0-5 URL: https://acrobat.adobe.com/link/review?uri=urn:aaid:scds:US:90f6a5b5-8eb4-395e-906b-147391e386e4 Introduction to finance from the perspective of business people and finance professionals. Designed to build effective decision-making skills based on sound financial knowledge, focusing on areas such as day-to-day operational issues and management, launching a startup, or negotiating option bonuses. Provides a firm grounding in the modern financial analysis underlying any decision, through three core themes: determining the value of a project, deciding how to finance a project, and managing its risk. Students also hone their ability to negotiate skillfully and speak intelligently about finance. Meets with 15.417 when offered concurrently. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details. Some sections are restricted to graduate students only without the permission of the instructor. See syllabus url for further details. Notes: ¹Students can choose to take both 15.417 and 15.418. Students who take 15.401 (rather than 15.417) must take 15.418. Students who take 15.402 (rather than 15.418) must take 15.417. Majors who take only one of 15.417 or 15.418, must take 15.276 or 15.279 to complete their second CI-M. Subjects that fulfill both Course 15-3 and GIR requirements are in bold.
15.501	Corporate Financial Accounting	Spring	0 Cr.
	15.501 Corporate Financial Accounting Prereq: None Units: 3-0-9 Credit cannot also be received for 15.516 Preparation and analysis of financial statements. Focuses on why financial statements take the form they do, and how they can be used in evaluating corporate performance and solvency and in valuation of corporate securities. Introduces concepts from finance and economics (e.g., cash flow discounting and valuation) and explains their relation to, and use in, accounting. Students taking the graduate version complete additional assignments.
HASS	Humanities, Arts, and Social Sciences	Spring	0 Cr.
	As part of MIT’s General Institute Requirements, all undergraduates must complete the HASS Requirement. It consists of eight subjects of at least nine units each in the humanities, arts, and social sciences. Learning in the humanities, arts, and social sciences (HASS) is an indispensable part of your undergraduate education. The HASS Requirement provides you with opportunities to deepen your knowledge in a variety of cultural and disciplinary areas, practice critical thinking, and develop vital skills while trying something new. There are three components to the HASS Requirement: Distribution, Concentration, and HASS Electives. To stay on pace, we recommend that you take one HASS subject each semester during your four years at MIT. Two of the subjects you complete to fulfill the HASS Requirement may also count toward the Communication Requirement if they are also designated as CI‑H subjects. Plan to take at least one HASS subject each semester. One of your two HASS subjects should be designated as Communication Intensive (CI‑H or CI‑HW). Consider a HASS Exploration Subject (HEX).
REST Subject	REST	Spring	0 Cr.
	REST Subject⁴ Through Restricted Electives in Science and Technology (REST) Requirement subjects, students can broaden and deepen the educational foundation in basic science begun in the first-year program and further the understanding of scientific inquiry. These subjects are designed to give students the opportunity to proceed further in areas already studied, or to explore other areas of potential interest. REST subjects vary in approach and emphasis. Some give a systematic introduction to the fundamental concepts and principles of a field; others illustrate through examples some of the attitudes, concerns, and methods that characterize professional work in the field. In general, REST subjects are not too specialized, too advanced, or devoted chiefly to instruction in a particular skill. Students typically take REST subjects in the second year, although with the proper prerequisites they may begin taking them in the first year. Students meet the REST Requirement by taking two subjects from the list below. Of the subjects used to fulfill the requirement, the student can take no more than one in their department. However, subjects designated with a J that are offered jointly with another department do not fall under the departmental limitation. In many cases, subjects required by a Departmental Program for the SB degree are also on the lists of REST and Laboratory Requirement subjects. Thus, students who follow a particular Departmental Program may simultaneously satisfy some part of these requirements. More information on Restricted Electives in Science and Technology (REST) Requirement subjects. Notes: ⁴Students can use no more than one subject in their primary major department to fulfill the REST requirement. Students who take 15.069 cannot use 15.053 (15-3 Restricted Elective) to fulfill the REST requirement.

—Junior Year Fall

	Course Title	Filter by Term Fall Spring
15.069 or 18.05 or 14.30 Choose one of these courses	Applied Probability and Statistics, Introduction to Probability and Statistics, or Introduction to Statistical Methods in Economics	Spring	0 Cr.
Choose one of these courses	15.069 Applied Probability and Statistics [Rest]² Prereq: Calculus I (GIR) Units: 4-0-8 Presents probability from the perspective of applied mathematics, with strong emphasis on an intuitive overview of key theorems and continuing demonstrations of their usefulness. Covers the laws of probability and numerous important discrete and continuous random variables, both individually and in combination. Introduces simulation. Offers an introduction to statistics that emphasizes its probabilistic foundations and the fact that statistical reasoning is applied common sense. Covers hypothesis testing, statistical sampling, and various forms of regression analysis. Draws applications from economics, finance, engineering, marketing, public policy, operations management, and operations research. 18.05 Introduction to Probability and Statistics [Rest]² Prereq: Calculus II (GIR) Units: 4-0-8 Elementary introduction with applications. Basic probability models. Combinatorics. Random variables. Discrete and continuous probability distributions. Statistical estimation and testing. Confidence intervals. Introduction to linear regression. 14.30 Introduction to Statistical Methods in Economics [Rest]² (Subject meets with 14.300) Prereq: Calculus II (GIR) Units: 4-0-8 Self-contained introduction to probability and statistics with applications in economics and the social sciences. Covers elements of probability theory, statistical estimation and inference, regression analysis, causal inference, and program evaluation. Couples methods with applications and with assignments involving data analysis. Uses basic calculus and matrix algebra. Students taking graduate version complete additional assignments. May not count toward HASS requirement. Notes: ²Contact the Sloan Undergrad Office for alternative options for the Probability & Statistics requirement. Please note, the course or courses MUST cover both Probability and Statistics in depth similar to 15.069. Course 15/6 and 15/14 double majors can petition Course 6/Course 14 to count 15.069 as a substitute for 14.30 or 18.05. Subjects that fulfill both Course 15-3 and GIR requirements are in bold.
15.418 [CI-M. LAB] or 15.402	Corporate Finance	Fall	0 Cr.
	15.418 Laboratory in Corporate Finance [CI-M. LAB]¹ Prereq: None. Coreq: 15.501 Units: 4-2-9 Credit cannot also be received for 15.402 Introduction to corporate finance. Classroom portion primarily uses case studies to introduce financial analytical tools needed to make real-world value-enhancing business decisions across many industries: how to decide which projects to invest in, how to finance those investments, and how to manage the cash flows of the firm. Laboratory sessions are organized around team valuation projects, such as valuation of an oil field and analysis of a potential merger between two public firms proposed by student teams. Projects require extensive use of financial databases. Laboratory sessions also provide instruction on writing and speaking on financial topics. Meets with 15.402 when offered concurrently. 15.402 Corporate Finance¹ Prereq: 15.401 Units: 3-0-6 Credit cannot also be received for 15.418 You must participate in Sloan's Course Bidding to take this subject. Introduction to corporate finance which focuses on financing a firm through turbulence, for innovation, and for growth. Primarily uses case studies to introduce financial analytical tools needed to make real-world value-enhancing business decisions across many industries: how to decide which projects to invest in, how to finance those investments, and how to manage the cash flows of the firm. Meets with 15.418 when offered concurrently. Notes: ¹Students can choose to take both 15.417 and 15.418. Students who take 15.401 (rather than 15.417) must take 15.418. Students who take 15.402 (rather than 15.418) must take 15.417. Majors who take only one of 15.417 or 15.418, must take 15.276 or 15.279 to complete their second CI-M. Subjects that fulfill both Course 15-3 and GIR requirement are in bold.
15.501	Corporate Financial Accounting	Fall	0 Cr.
	15.501 Corporate Financial Accounting Prereq: None Units: 3-0-9 Credit cannot also be received for 15.516 Preparation and analysis of financial statements. Focuses on why financial statements take the form they do, and how they can be used in evaluating corporate performance and solvency and in valuation of corporate securities. Introduces concepts from finance and economics (e.g., cash flow discounting and valuation) and explains their relation to, and use in, accounting. Students taking the graduate version complete additional assignments.
HASS	Humanities, Arts, and Social Sciences	Fall	0 Cr.
	As part of MIT’s General Institute Requirements, all undergraduates must complete the HASS Requirement. It consists of eight subjects of at least nine units each in the humanities, arts, and social sciences. Learning in the humanities, arts, and social sciences (HASS) is an indispensable part of your undergraduate education. The HASS Requirement provides you with opportunities to deepen your knowledge in a variety of cultural and disciplinary areas, practice critical thinking, and develop vital skills while trying something new. There are three components to the HASS Requirement: Distribution, Concentration, and HASS Electives. To stay on pace, we recommend that you take one HASS subject each semester during your four years at MIT. Two of the subjects you complete to fulfill the HASS Requirement may also count toward the Communication Requirement if they are also designated as CI‑H subjects. Plan to take at least one HASS subject each semester. One of your two HASS subjects should be designated as Communication Intensive (CI‑H or CI‑HW). Consider a HASS Exploration Subject (HEX).

—Junior Year Spring

	Course Title	Term
15-3	Restricted Elective	Spring	0 Cr.
	Each student must take an additional seven full subjects from the approved list of Restricted Electives. At least two of the electives must be in the area of Core Electives in Finance and there must be at least five electives in total between the areas of Core Electives in Finance and Topics in Finance. *A full subject is either 9 or 12 units. A half subject is 6 units. See the list of 15-3 Restricted Electives.
15-3	Restricted Elective	Spring	0 Cr.
	Each student must take an additional seven full subjects from the approved list of Restricted Electives. At least two of the electives must be in the area of Core Electives in Finance and there must be at least five electives in total between the areas of Core Electives in Finance and Topics in Finance. *A full subject is either 9 or 12 units. A half subject is 6 units. See the list of 15-3 Restricted Electives.
15-3	Restricted Elective	Spring	0 Cr.
	Each student must take an additional seven full subjects from the approved list of Restricted Electives. At least two of the electives must be in the area of Core Electives in Finance and there must be at least five electives in total between the areas of Core Electives in Finance and Topics in Finance. *A full subject is either 9 or 12 units. A half subject is 6 units. See the list of 15-3 Restricted Electives.
15.417 [CI-M. LAB] or 15.401	Laboratory in Investments or Managerial Finance	Spring	0 Cr.
	15.417 Laboratory in Investments [ CI-M. LAB]¹ Prereq: None Units: 3-3-9 Introduction to finance with a lab component that puts theory into practice. Designed to build effective decision-making skills for business and to develop hands-on analytical techniques that are used by investment managers and traders. Lectures provide a firm grounding in financial analysis--determining the value of a decision, deciding how to finance a project, and assessing its risk. Lab sessions introduce students to modern tools and methods used in financial markets. Through team projects, students develop and test asset-pricing models, forecasting methods, and investment strategies using real-world market data. Provides instruction in writing and speaking from a financial perspective. Meets with 15.401 when offered concurrently. 15.401 Managerial Finance¹ Prereq: None Units: 4-0-5 URL: https://acrobat.adobe.com/link/review?uri=urn:aaid:scds:US:90f6a5b5-8eb4-395e-906b-147391e386e4 Introduction to finance from the perspective of business people and finance professionals. Designed to build effective decision-making skills based on sound financial knowledge, focusing on areas such as day-to-day operational issues and management, launching a startup, or negotiating option bonuses. Provides a firm grounding in the modern financial analysis underlying any decision, through three core themes: determining the value of a project, deciding how to finance a project, and managing its risk. Students also hone their ability to negotiate skillfully and speak intelligently about finance. Meets with 15.417 when offered concurrently. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details. Some sections are restricted to graduate students only without the permission of the instructor. See syllabus url for further details. Notes: ¹Students can choose to take both 15.417 and 15.418. Students who take 15.401 (rather than 15.417) must take 15.418. Students who take 15.402 (rather than 15.418) must take 15.417. Majors who take only one of 15.417 or 15.418, must take 15.276 or 15.279 to complete their second CI-M. Subjects that fulfill both Course 15-3 and GIR requirements are in bold.

—Senior Year Fall

	Course Title	Term
14.01 HASS or 15.0111 14.01 HASS or 15.0111	Principles of Microeconomics or Economic Analysis for Business Decision	Fall	0 Cr.
14.01 HASS or 15.0111	14.01 Principles of Microeconomics Prereq: None Units: 3-0-9 Introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Applications to problems of current economic policy. 15.0111 Economic Analysis for Business Decision³ (Subject meets with 15.011) Prereq: None Units: 4-0-5 Introduces principles of microeconomics as a framework for making more informed managerial decisions. Discusses the supply and demand paradigm with applications to digital marketplaces, innovation, sources of market power, and strategic pricing. Provides an introduction to game theory to study competition and cooperation both within and between firms. Expectations and evaluation criteria differ for students taking graduate version; consult syllabus or instructor for specific details. Intended for undergraduate students; not open to Sloan MBA students. Notes: ³14.01 is a HASS subject. 15.0111 is not a HASS subject. Students who take 15.0111 will need to take an additional HASS course. Subjects that fulfill both Course 15-3 and GIR requirements are in bold.
15-3	Restricted Elective	Fall	0 Cr.
	Each student must take an additional seven full subjects from the approved list of Restricted Electives. At least two of the electives must be in the area of Core Electives in Finance and there must be at least five electives in total between the areas of Core Electives in Finance and Topics in Finance. *A full subject is either 9 or 12 units. A half subject is 6 units. See the list of 15-3 Restricted Electives.
15-3	Restricted Elective	Fall	0 Cr.
	Each student must take an additional seven full subjects from the approved list of Restricted Electives. At least two of the electives must be in the area of Core Electives in Finance and there must be at least five electives in total between the areas of Core Electives in Finance and Topics in Finance. *A full subject is either 9 or 12 units. A half subject is 6 units. See the list of 15-3 Restricted Electives.
HASS	Humanities, Arts, and Social Science	Fall	0 Cr.
	As part of MIT’s General Institute Requirements, all undergraduates must complete the HASS Requirement. It consists of eight subjects of at least nine units each in the humanities, arts, and social sciences. Learning in the humanities, arts, and social sciences (HASS) is an indispensable part of your undergraduate education. The HASS Requirement provides you with opportunities to deepen your knowledge in a variety of cultural and disciplinary areas, practice critical thinking, and develop vital skills while trying something new. There are three components to the HASS Requirement: Distribution, Concentration, and HASS Electives. To stay on pace, we recommend that you take one HASS subject each semester during your four years at MIT. Two of the subjects you complete to fulfill the HASS Requirement may also count toward the Communication Requirement if they are also designated as CI‑H subjects. Plan to take at least one HASS subject each semester. One of your two HASS subjects should be designated as Communication Intensive (CI‑H or CI‑HW). Consider a HASS Exploration Subject (HEX).

—Senior Year Spring

	Course Title	Term
15-3	Restricted Elective	Spring	0 Cr.
	Each student must take an additional seven full subjects from the approved list of Restricted Electives. At least two of the electives must be in the area of Core Electives in Finance and there must be at least five electives in total between the areas of Core Electives in Finance and Topics in Finance. *A full subject is either 9 or 12 units. A half subject is 6 units. See the list of 15-3 Restricted Electives.
15-3	Restricted Elective	Spring	0 Cr.
	Each student must take an additional seven full subjects from the approved list of Restricted Electives. At least two of the electives must be in the area of Core Electives in Finance and there must be at least five electives in total between the areas of Core Electives in Finance and Topics in Finance. *A full subject is either 9 or 12 units. A half subject is 6 units. See the list of 15-3 Restricted Electives.
HASS	Humanities, Arts, and Social Sciences	Spring	0 Cr.
	As part of MIT’s General Institute Requirements, all undergraduates must complete the HASS Requirement. It consists of eight subjects of at least nine units each in the humanities, arts, and social sciences. Learning in the humanities, arts, and social sciences (HASS) is an indispensable part of your undergraduate education. The HASS Requirement provides you with opportunities to deepen your knowledge in a variety of cultural and disciplinary areas, practice critical thinking, and develop vital skills while trying something new. There are three components to the HASS Requirement: Distribution, Concentration, and HASS Electives. To stay on pace, we recommend that you take one HASS subject each semester during your four years at MIT. Two of the subjects you complete to fulfill the HASS Requirement may also count toward the Communication Requirement if they are also designated as CI‑H subjects. Plan to take at least one HASS subject each semester. One of your two HASS subjects should be designated as Communication Intensive (CI‑H or CI‑HW). Consider a HASS Exploration Subject (HEX).
HASS or Elective	Humanities, Arts, and Social Sciences or Elective	Spring	0 Cr.
	HASS³ As part of MIT’s General Institute Requirements, all undergraduates must complete the HASS Requirement. It consists of eight subjects of at least nine units each in the humanities, arts, and social sciences. Learning in the humanities, arts, and social sciences (HASS) is an indispensable part of your undergraduate education. The HASS Requirement provides you with opportunities to deepen your knowledge in a variety of cultural and disciplinary areas, practice critical thinking, and develop vital skills while trying something new. There are three components to the HASS Requirement: Distribution, Concentration, and HASS Electives. To stay on pace, we recommend that you take one HASS subject each semester during your four years at MIT. Two of the subjects you complete to fulfill the HASS Requirement may also count toward the Communication Requirement if they are also designated as CI‑H subjects. Plan to take at least one HASS subject each semester. One of your two HASS subjects should be designated as Communication Intensive (CI‑H or CI‑HW). Consider a HASS Exploration Subject (HEX). Elective⁵ To be recommended for the degree of Bachelor of Science, students must have attended MIT not less than three regular academic terms, which ordinarily must include the term of graduation. In addition, students must have satisfactorily completed a program of study approved in accordance with the faculty regulations, which includes the General Institute Requirements (GIRs) and the departmental program of the Course in which the degree is to be awarded. Departures from the departmental programs are allowed with departmental permission. See the Schools section, as well as individual degree charts, for information about specific programs. Substitutions for GIR subjects are allowed only by petition. Petitions pertaining to the Communication Requirement must be directed to the Subcommittee on the Communication Requirement (SOCR), and petitions for any substitutions in the Humanities, Arts, and Social Sciences (HASS) Requirement must be directed to the Subcommittee on the HASS Requirement (SHR). The Committee on Curricula (CoC) considers petitions for substitutions in the Institute Laboratory Requirement and the Restricted Electives in Science and Technology (REST) Requirement. View Electives. Notes ³14.01 is a HASS subject. 15.0111 is not a HASS subject. Students who take 15.0111 will need to take an additional HASS course. ⁵75-81 additional units will be needed to accrue the 180 units beyond GIRs.

Choosing Between Alternate Versions of Subjects

Lab in Investments / Managerial Finance (Finance Theory I): 15.401 is a 9 unit course. 15.417 is a 15 unit course. 15.401 and 15.417 share the same lecture. 15.417 has an additional LAB/CI-M component, hence the extra 6 units. The advantage of 15.417 is that the LAB/CI-M component was specifically designed to give students an "internship-like" experience where the work and deliverable is similar to what one would produce at the end of a summer finance internship or as a first year analyst. Students interested in quantitative finance or sales and trading are especially recommended to take 15.417.

Lab in Corporate Finance / Corporate Finance (Finance Theory II): Similar in structure to 15.401/15.417. 15.402 is a 9 unit course. 15.418 is a 15 unit course. 15.402 and 15.418 share the same lecture. 15.418 has an additional LAB/CI-M component, hence the extra 6 units. As with 15.417, the advantage of 15.418 is that the LAB/CI-M component was specifically designed to give students an "internship-like" experience where the work and deliverable is similar to what one would produce at the end of a summer finance internship or as a first year analyst. Students interested in investment banking or private equity are especially recommended to take 15.418.

Microeconomics: 14.01 counts as a HASS subject and is a prerequisite for higher level Course 14 courses. 15.0111 is a great option for those looking for a focus on using microeconomic principles in business decision making and/or are not looking to do advanced work in Economics.

Probability & Statistics: We anticipate that the majority of Course 15 students will take 15.069, as it involves how to apply probability and statistics in different business areas/situations. 14.30 is an alternative for Course 14/15 and 6-14/15 double majors. 18.05 is an alternative for Course 6 and 18 majors. Contact the Sloan Undergrad Office for alternative options for the Probability & Statistics requirement. Please note, the course or courses MUST cover both Probability and Statistics in depth similar to 15.069.

Course 15 subjects with a '1' in the fourth decimal place (ex. 15.433/15.4331): The subject number with an extra '1' is the undergraduate number of the graduate subject. They meet together, in that they share the same lecture and deliverables, but the faculty have a different expectation and evaluation criteria for the undergraduates as compared to the graduate students (due mainly to the difference in professional experience that students have to draw upon). The undergraduate course number was added as a way to hold seats specifically for undergraduates. As with all undergraduate Course 15 subjects, there is no bidding necessary.

Double Major Roadmaps

To discuss options for double majoring, please reach out to the undergraduate team.

15-3 Finance + 6-3 Computer Science and Engineering

15-3 Finance + 6-14 Computer Science, Economics, and Data Science

Which program is right for you?

Executive Programs

15-3 Finance Course: Roadmap

—First Year Fall

—First Year Spring

—Sophomore Year Fall

—Sophomore Year Spring

—Junior Year Fall

—Junior Year Spring

—Senior Year Fall

—Senior Year Spring

Choosing Between Alternate Versions of Subjects

Double Major Roadmaps

Contact the Undergraduate Team

Meet the team

Scott Alessandro

Rianna Allen-Charles

Karyn E Glemaud-Anis