The Business of Public Investment Finance Banking

Course Number: GAFL 515

This course provides an overview of public finance, focusing on the issuance of debt and the interaction between the capital markets and state/local governments and governmental agencies.

The goal of the course is to empower students to make key decisions related to the financial, legal, and tax structure of public (municipal) debt, the marketing and pricing thereof, and otherwise manage the debt issuance/investment banking process.

The course is designed to provide practical understanding of: (1) municipal debt and derivative structures; (2) their respective risks; (3) the process by which these instruments are created, marketed, priced, and sold; (4) the basics of federal tax law as it relates to municipal debt; (5) the basic legal framework for bond transactions; and (6) the various market participants and their respective roles.

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Contact Information

Fels Institute of Government
University of Pennsylvania
3814 Walnut Street
Philadelphia, PA 19104

Phone: (215) 898-2600
Fax: (215) 746-2829