Curriculum
The curriculum of this 60 ECTS Master program is composed of 8 segments that includes 400 lecture hours as well as a residential tailor-made academic week at the New York University Stern School of Business. Studies are completed by the writing of a Master Thesis or a Business Field / Research Project.
Optional induction modules in Mathematics/Statistics and in Financial Accounting are available on request to students who need preparatory courses to effectively use quantitative and accounting techniques.
Banking
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International Banking (1.5 ECTS) International Financial Institutions and Banking Activities, Hedge Funds and Financial Stability, Taxation and the Structure of International Banking, Liquidity and Liquidity Risk Management, International Capital Regulation: The Original Basel, Accord and the New Standardized Approach, Financial Liberalization |
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Value Creation and Asset & Liability Management (3 ECTS) Sources of Value Creation in Banking, Profit Center Management, Risk-adjusted Performance Management, Pricing Credit Risk and Loan Provisioning, The Management of Interest Rate and Liquidity Risks, Banking Simulation ALCO Challenge |
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Investment Banking (1.5 ECTS) Specialized vs Universal Banking, Financial Restructuring and IPOs, Managing Complex Lending Deals, Capital Market Borrowing, Strategic Mergers & Acquisitions Analysis |
Accounting
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Corporate Financial Reporting and Credit Scoring Analysis (3 ECTS) Accountancy Principles, Detailed Analysis of Financial Statements (Balance Sheets, Income Statements, Cash-Flow Statements), Consolidated Financial Statements and Consolidations Methods, Elements of Corporate Financial Analysis, Anticipating and Managing Financial Detress: Credit Scoring Methods (Theories and Applications-Discriminating Analysis, Treatment of Financial Databases, Scoring Output) |
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Financial Instruments Accounting (1.5 ECTS) Accounting Treatment of Financial Instruments under the IAS-IFRS, Hybrid Financial Instruments and Embedded Derivatives, Hedge Accounting, Recognition and Derecognition, The case for the Banking and Insurance Industries and the Impact of the Basle II Agreement |
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International Accounting (1.5 ECTS) Accounting Theory and Conceptual Frameworks, Consolidated Accounts and the Multinational, IAS/IFRS: Presentation and Interpretation of Principal Standards International Financial Reporting and Analysis |
Finance
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Portfolio Theory and Management (4 ECTS) Mean-Variance Approach and Efficient Frontiers, Simplifying the Portfolio Selection Process, “The Investment Portfolio” Software, Models of Equilibrium in the Capital Markets (CAPM and APT), Empirical Tests of Equilibrium Models, Portfolio Performance Measurement |
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International Finance (2.5 ECTS) The Foreign Exchange Market, Determination of Exchange Rates, Exchange Rate Systems, Foreign Exchange Risk Measurement and Management, NPV Analysis for Multinationals, International Portfolio Diversification |
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Corporate Finance (2.5 ECTS) Asset Valuation, Capital Budgeting, Capital Structure and Dividend Policy, Options and Corporate Finance, Real Options, Financial Innovation in Corporate Finance, Private Equity Venture Capital Investments |
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Corporate Governance (1.5 ECTS) National Systems of Corporate Governance, Microeconomic Theories of the Firm and Corporate Governance, Shareholder and Stakeholder Approaches to Corporate Governance, Composition and Role of the Board of Directors, “Law & Economics Approach”: The Concept of Reflexive Law, Impact on Corporate Governance of Macroeconomic Evolutions |
Investments
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Behavioral Finance (1.5 ECTS) Noise Trader Risk in Financial Markets, Investor Sentiment, Excess Volatility, Psychological Foundations of Underand Overreaction, How Markets React to Corporate Announcements, Momentum, Contrarian Investment Strategies |
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Derivative Securities (2.5 ECTS) Derivatives Markets, Forward and Futures Prices,Trading and Hedging Strategies, Binomial Trees and Numerical Procedures, Option Pricing Models, Exotic Options |
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Fixed Income Securities (1.5 ECTS) The Relative Pricing of Fixed Income Securities with Fixed Cash Flows, One-and Multi-Factor Hedging and Valuation, The Many Faces of Convexity, Term Structure Models, Bond Portfolio Management |
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Risk Management (3 ECTS) Structuring and Managing the Risk Management Function in a Bank, Measuring Market Risk: The VaR Approach, Measuring and Hedging Credit Risk, Managing Operational Risk Capital Allocation and Performance Measurement, Model Risk, Risk Management in Nonbank Corporations |
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Investment Valuation (1.5 ECTS) Organization and Functioning of Securities Markets, Efficient Capital Markets, Security Analysis for Investment and Corporate Finance, Equity Valuation Models, EVA and Value-Based Management |
Fund Industry
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Hedge Fund Industry (1.5 ECTS) Introduction to Alternative Investments,Types of Hedge Funds/Hedge Fund Investors, Portfolio Creation and Risk Management, Funds of Hedge Funds, Evaluation and Implementing Hedge Fund Strategies: Through the “Alpha” Smoke Screens |
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Mutual Fund Industry (1.5 ECTS) The Structure of the Mutual Fund Industry, Multi Index Models of Performance, Actively Managed vs Passively Managed Funds:The Search for Managers, A New Structure of Fees |
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Pension Fund Industry (1.5 ECTS) Pensions and the Labor / Capital Markets, Pensions and Pension Funds, Pensions and Fund Regulations, Pensions and Fund Investment Strategies, Quantitative Funds Performance Measurement |
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Quantitative Funds Performance Measurement (1.5 ECTS) Advanced Measurement Approaches, Performance Attribution Techniques and Managerial Skills Assessment, Performance of Hedge Funds, Persistence in Performance |
Strategic Management
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Strategy in Banking (1.5 ECTS) Major Developments Shaping Global Banking and Finance, Reconfiguration of Global Financial Services, Global Debt and Equity Markets, Institutional Asset Management and Private Banking, Competitive Challenges |
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Strategic Cost Management (1.5 ECTS) Cost-Volume-Profit Analysis, Process Costing vs Job Costing, Activity-Based Costing and Activity-Based Management, Flexible Budgets, Variances, and Management Control, Cost Behavior and Relevant Costs for Decision Making, Balanced Scorecard and Strategic Profitability Analysis |
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IT Challenge in Management (1.5 ECTS) Building e-Business Competence,Impact of the Internet on the Macro-Environment and on the Industry Structure,Value Creation in e-Business, Impact of the Internet on the Horizontal / Vertical, Boundaries of a Firm, Internal Organization of a Firm’s e-Business Activities, A Roadmap for e-Business Strategy Formulation |
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Business Strategy and Management of Innovation (2 ECTS) Strategic Analysis and Business Leadership, Business Ecosystem Foresight, Strategic Management and Development of Innovation, Applications to Financial Industry |
