Master Program in Finance
The courses in the first semester build the foundations and are mandatory for all students. In the second semester students specialize in either Investment Management or Corporate Finance.
The four mandatory courses are:
- 4317 - Portfolio Choice and Asset Pricing
- 3310 - Accounting and Financial Statement Analysis
- 4318 - Fixed Income and Derivatives Markets
- 4319 - Corporate Finance
(Note: Students with a solid background in accounting will take the course 3301 - Financial Accounting instead of 3310)
The specialization in Investment Management (IM) prepares for careers in asset management, security analysis, risk management, quantitative investment methods and securities sales and trading. Investment management skills are also important for regulators and policy makers in financial markets. The specialization provides a solid analytical foundation for understanding risk and return, value creation, and regulatory and legal institutions in asset markets.
The specialization in Corporate Finance (CF) prepares for careers in investment banking, commercial banking, private equity, management consulting, finance functions in corporations and elsewhere. The Corporate Finance specialization provides a framework for assessing the value impact of operational decisions, capital budgeting choices, and critical business decisions such as mergers or restructuring.
There are no mandatory courses in the second and third semester. However, students must select at least three courses within their chosen specialization. The remaining five courses may be chosen freely, within or outside the field of finance.
The finance electives given in the spring semester are:
- 4304 - Quantitative Modeling of Asset Prices (IM specialization)
- 4306 - International Financial Management (CF & IM Specialization)
- 4309 - Investment Strategies (IM Specialization)
- 4312 - M&A: Financial Aspects (CF Specialization)
- 4320 - Quantitative Methods in Corporate Finance (CF Specialization)
- 4321 - Risk Management (IM Specialization)
- 4322 - Corporate Transition and Restructuring (CF Specialization)
The finance electives given in the fall semester are:
- 4310 - Private Equity (CF Specialization)
- 4314 - Behavioral Finance and Trading (IM Specialization)
- 4316 - Financial Stability and Regulation (CF Specialization)
- 4326 - Entrepreneurial Finance and Venture Capital (CF Specialization)
- 4324 - Value Investing (CF & IM Specialization)
- 4325 - Value Investing II: Frontiers (CF & IM Specialization)
Master's Thesis
The Master’s Thesis is an opportunity for the student to take the first step towards a future job by choosing a suitable topic. A thesis can either be written as an academic research paper, or as a case study, or a report that addresses a real-world financial problem faced by a firm or financial institution.