Arizona State University
Senate Motion #2016-43
Motion Introduced by: Curriculum and Academic Programs Committee, Steven Semken, Chair
Date of First Reading: March 28, 2016
Date of Second Reading: April 25, 2016
Title of Motion: Request from the Thunderbird School of Global Management–– for the establishment of a graduate certificate – Global Finance
Action Requested: This curricular proposal has received all college, school, unit and university administrative approvals, and is being presented to the Senate for review and voting decision.
Rationale: The Graduate Certificate in Global Finance is a 15 credit hour program which provides specialized content knowledge essential to graduate placement in the business, government, and non-governmental entities that operate on a global scale. Global finance, while utilizing some of the foundational theories and tools used in traditional domestic finance, expands this content to include critical elements needed for global financial decision making. For global finance, the domestic financial tools are in many ways necessary but not sufficient. To make sound financing and investment decisions, students need to incorporate knowledge of global and regional economic and political landscapes, multinational tax management, and country risk analysis. The courses in the Global Finance Certificate position students in multinational corporations or international organizations where the accounting emphasis is on International Reporting Standards (IFRS) rather than the United States Generally Accepted Accounting Principles (US GAPP), financial value creation is contingent on efficient management of cross border transfer pricing, tax planning, currency hedging, and interest rate risks.