In the first part of the course, students survey a number of commonly used financing arrangements, such as initial public offerings, follow-on equity issues, and several forms of straight and convertible debt. The range of securities covered is meant to accomplish two goals: Inform students of the terminology and basic features of these instruments and help them understand the appropriate context for when a particular security should be used. Financial strategy and the study of ways that firms ensure adequate funding and ongoing access to capital markets are also examined. In the latter portion of the course, financial structure and how individual securities work together within a firm’s overall capitalization are the topics. Because firms typically rely on multiple providers of capital, well-designed financial structures must achieve compatibility among the interests of the individual capital providers. The extent to which the market perceives the potential for conflict affects both the availability and costs of external capital. All aspects of financing and this course as well require an understanding of the markets—the buyers, sellers, and institutional features.