The primary focus of this introductory course is on discounted cash flow techniques, and their application to corporate finance. This course introduces the concept of the time value of money, and the key methods of project appraisal including the net present value method, the payback period, the book rate of return, internal rate of return, profitability indices etc. the merits and demerits of each are explained. Qualitative aspects of capital budgeting and investments are also covered. The concept of market efficiency and of the link between risk and return are illustrated by reference to historical returns. Basic issues around share valuation are also discussed, and the students are introduced to derivative instruments, and how they may be used both defensively and aggressively.