Itamar Drechsler

Itamar Drechsler
  • Ervin Miller-Arthur M. Freedman Professor, Professor of Finance
  • Co-Director, Rodney L. White Center for Financial Research

Contact Information

  • office Address:

    2457 Steinberg-Dietrich Hall
    3620 Locust Walk
    Philadelphia, PA 19104

Research

Teaching

All Courses

  • FNCE1000 - Corporate Finance

    This course provides an introduction to the theory, the methods, and the concerns of corporate finance. The concepts developed in FNCE 1000 form the foundation for all elective finance courses. The main topics include: 1) the time value of money and capital budgeting techniques; 2) uncertainty and the trade-off between risk and return; 3) security market efficiency; 4) optimal capital structure, and 5) dividend policy decisions. ACCT 1010 + STAT 1010 may be taken concurrently.

  • FNCE6110 - Corporate Finance

    This course serves as an introduction to business finance (corporate financial management and investments) for both non-majors and majors preparing for upper-level course work. The primary objective is to provide the framework, concepts, and tools for analyzing financial decisions based on fundamental principles of modern financial theory. The approach is rigorous and analytical. Topics covered include discounted cash flow techniques; corporate capital budgeting and valuation; investment decisions under uncertainty; capital asset pricing; options; and market efficiency. The course will also analyze corporate financial policy, including capital structure, cost of capital, dividend policy, and related issues. Additional topics will differ according to individual instructors.

  • FNCE9370 - Topics in Macro Finance

    This is an advanced course in quantitative theory applied to macro and finance models. It is intended for doctoral students in finance, economics and related fields. The course focuses on four broad theoretical literatures: (i) firm investment and growth; (ii) corporate, household and sovereign debt; (iii) asset pricing in general equilibrium; and (iv) equilibrium macro models with a financial sector. My approach is to develop and discuss in detail a unified framework that is suited to address most topics, usually covering a few central topics and the core papers. We then discuss the more recent literature, highlighting how authors combine and expand upon the core ideas. This part of the course usually relies on regular student presentations.

Awards and Honors

  • Brattle Group Prize (Distinguished Paper) for best corporate finance paper in the Journal of Finance, 1970

In the News

Knowledge at Wharton

Activity

In the News

Interest Rate Cuts Are on the Way. What That Means for the Housing Market

Wharton professor of finance joins the show to discuss how the cuts will play out.Read More

Knowledge at Wharton - 12/14/2023
All News