MS-GRA Academics

Accounting for Sustainability Management

Obtain an overview of financial reporting by for-profit and nonprofit organizations and how differences between the two can meet the needs of different constituents. The course discusses two types of non-financial reporting important for sustainability professionals: corporate social responsibility (CSR) reporting and sustainability accounting (which focuses on environmental, social capital, human capital, business models, and leadership/governance). You will better understand the financial and non-financial information reported by your future employers and their suppliers, customers, competitors, and strategic partners.

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Firm Analysis and Strategy

Gain a conceptual foundation in strategic analysis and design, drawing from the field of microeconomics and applications to competitive strategy. Learn the frameworks, tools, and concepts that enable practitioners to effectively think and act strategically when making critical business decisions. Realizing most business organizations operate in competitive markets, this course enables managers to develop business and marketing strategies that enhance an organization’s performance over that of its rivals and position the firm for long-term success.

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Managerial Statistics

In Managerial Statistics, we try to narrow the gap between theory and practice by presenting statistical methods so they are both relevant and interesting. The data that informs a business decision has a story to tell, and the role of a Statistics course is to help us hear that story clearly and communicate it to others. This course reviews the uses of statistical tools to present, analyze, and interpret data.

You will learn methods and concepts and the “why” in the context of business decisions. Students will come away knowing how to think statistically to make better business decisions and how to effectively communicate the analysis that led to the decision to others.

The topics covered in Managerial Statistics are generally mandated by students’ needs in their future professions. Our approach requires up-to-date, real-world examples and current data. Besides using data, we will develop statistical thinking, stress conceptual understanding rather than mere knowledge of procedures, foster active learning, and use technology for developing conceptual understanding and analyzing data.

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Community Development Clinic

The crux of this course is an evaluation of ESG integration for a sample of public REITs, particularly relating to their readiness to respond to SEC climate disclosure legislation. As a practical application to what was learned in the preceding ESG Foundations course, this Clinic will build on that knowledge through lecture and guest speakers to prepare students to engage organizations directly to ascertain their ESG initiatives and compliance preparedness.

An assessment tool consisting of a series of questions related to each component of E, S, and G will be developed. Teams will be formed with each being assigned a CRE organization to interview. Two, one-hour interviews will take place, ideally with one being with C-suite and/or board members, and the second with management charged with implementing the initiatives. Mock interviews will be conducted in class prior to the interviews to ensure student readiness.

Assessment tool questions will be sent out to companies prior to the interviews that will take place via Zoom with the second interview roughly one week following the first. Also, a thorough research of the organization’s public documents related to ESG, Sustainability, and CSR will augment results gleaned from the interviews.

The final project will be a report on the teams’ findings and conclusions that will be presented to the client organization.

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Finance for Sustainability Management

Develop analytical capabilities for making financial decisions in corporations and nonprofits by focusing on: 1) the mathematics of time value of money and discounted cash flow analysis; 2) the decision rules corporations can use to determine which projects to accept; and 3) the tradeoff between risk and return and the fundamentals of portfolio theory.

You will take on the perspective of an equity investor to learn how to measure the return-generating potential and risk associated with a real estate transaction. This case study approach to apply course concepts to practical issues will broadly cover the physical and financial aspects of the investment, as well as subtopics including leverage and income tax considerations. Gain a broad understanding of the institutional real estate world and how circumstances in the current market impact the ability to acquire (and dispose of) real estate assets.

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Real Estate Private Equity

Prepare to enter the world of private equity real estate investment through a focus on answering the question, “What is the real estate asset worth?” Lectures consider the thought process and mechanics implicit in establishing an asset’s value via proforma statement construction and discounted cash flow methodology.

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Decarbonization and Real Assets

In board rooms, c-suites, and corporate compliance, ESG is now a dominant topic in financial success, public policy, and strategic mission. As part of their mandates, corporate officers and entrepreneurs must understand the broad nuances of ESG and integrate them into their planning and core work. According to International Energy Agency, buildings and building construction sectors combined are responsible for 30% of total global final energy consumption and 27% of total energy sector emissions. With investors setting ambitious net zero goals, regulators developing ESG reporting standards, and governments passing laws around greenhouse gas emissions, ESG is climbing to the top of the agenda of real asset corporations and their investors, lenders, and insurers. 

This course investigates what ESG means for real assets, dives into applicable environmental, social, and governance concepts, factors, and metrics. Under each pillar, the class will discuss topics material to real assets in detail with examples of how each key topic applies to real asset sectors and regions around the world. The content also will explore investor perspectives in each topic.

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Real Estate Clinic: Multifamily

The Real Estate Clinic is designed to prepare students for graduate-level careers at institutional real estate investment firms by exposing them to the practice of underwriting real estate investments. will have the distinct benefit of being able to underwrite the “Four Main Food Groups,” i.e. office, multifamily, industrial, and retail products across the United States, developing a broad understanding of many different asset types and learning how underwriting is impacted by geography. The clinic also will provide extensive exposure to real estate technical tools in the form of Excel and Argus Enterprise.