Day(s) Tuesday Thursday Time(s) 9:30 AM - 10:50 AM Course # PPHA 32530 Term Winter 2023 Specialization Municipal Finance This class is for graduate students interested in how state and local governments, not for profit hospitals, colleges and universities, and cultural institutions finance capital projects including but not limited to: roads; bridges; mass transit, water sewer and electric systems; and public buildings, through the issuance or sale of municipal bonds. There are over $3.7 trillion in municipal bonds outstanding and on average over $350 billion issued each year. This annual amount represents 10,000 separate financings. This market is critical to investors and the 87,500 state and local governments in the United States that need to meet the needs of their respective citizens. There are 55,000 governments with debt outstanding. Each week we will cover different aspects of tax exempt bonds and the various processes used to raise money for governments and not for profits. The texts will be supplemented by rating agency reports, and topical articles from industry publications and publicly available web sites. Some classes will include guest speakers to illuminate a course subject and to point up career opportunities. The class will include a discussion how and where Master’s students in public policy can pursue various career options in the municipal bond industry including: working in a: budget or finance office of a government focusing on debt management; at a rating agency; working as an analyst for a mutual fund, insurance company or bank trust company; or working; or as an analyst for an investment banking firm or government advisory firm. We will also discuss how these entry level positions can lead to careers in investment banking for government and portfolio management of tax exempt bonds. This class should be taken by students in their second year of enrollment. Syllabus Instructor(s) Justin Marlowe Recent News More news Alumni Profile: Sameer Shafi Warraich, MPP’22 Thu., March 28, 2024 Alumni Profile: Will Pennington, MACRM’23 Tue., March 26, 2024 Student Profile: Aïcha Camara, MSCAPP Class of 2024 Thu., March 21, 2024 Upcoming Events More events UChicago Harris International Leadership Credential Information Session Mon., April 01, 2024 | 8:00 AM Harris Evening Master's Program Class Visit—Economic Analysis III: Public Finance and Budgeting With Professor Justin Marlowe Tue., April 02, 2024 | 5:45 PM Convene 311 West Monroe St. 2nd Floor Reception Chicago, IL 60606 United States Data and Policy Summer Scholars Program (DPSS) Chinese Alumni Roundtable Wed., April 03, 2024 | 7:00 AM