Course description
Banking and International Finance MSc
The world of finance, with its diverse career opportunities and continuous demand for capable postgraduate-level executives, is an attractive choice for many top-calibre individuals.
A brief glance at the annual report of a large bank, investment bank, or financial conglomerate is sufficient to appreciate its wide and sophisticated range of activities: traditional lending, securitisation, credit derivatives, bridge financing, asset management, trading foreign exchange and securities, derivatives and structured products, mergers and acquisitions, initial public offerings, securities custody, retail services, etc.
The MSC in Banking and International Finance is designed to equip our students for a very wide range of careers in banks, investment banks, securities firms, portfolio managers, finance departments of industrial and service companies, consultants, central banks, auditors, multinational financial organizations, etc.
Course Content - Ahead of the game
We review all our courses regularly to keep them up-to-date on issues of both theory and practice, therefore there may be some change to the detailed content of the modules and occasionally to module titles.
The Banking and International Finance course starts with two compulsory induction weeks, mainly dedicated to:
* an introduction to careers in finance and the opportunity to speak to representatives from over 75 companies during a number of different industry specific fairs.
* a refresher course of basic financial mathematics, statistics, computing and electronic databases.
Term 1
Four core modules(30 hours each)
Finance and Investments
This module will provide students with a clear understanding of the investment principles of modern investment management. Students will be introduced to the variety of approaches used to price financial assets and to assess both individual asset risk, and the risks embodied in an investment portfolio. This background is crucial for understanding how derivatives can help to manage these risks; how hedge funds operate; how we evaluate the performance of all professional fund managers today; and how high level asset allocation decisions are taken and implemented.
Financial Statements Analysis
The course is tailored to the needs of Banking and International Finance students and is designed to develop a solid understanding of how users of financial information interpret accounting reports when making business decisions. The emphasis is on the valuation of both equity and debt instruments. Coverage is not restricted to the existing U.S. generally accepted accounting principles, but includes a broad discussion of measurement issues and international accounting standards. The topics that are covered include earnings quality, ratio analysis, fundamental analysis, earnings management, equity-based executive compensation (stock grants and stock options).
Global Fixed Income and Foreign Exchange
This module will provide students with a business-orientated introduction to the global fixed income, foreign exchange and derivative market, which is now by far the largest financial market on the planet. The focus is on risk management and financial engineering. The module will also cover all the most important linear derivatives: forwards, futures, swaps, etc.
Introduction to Financial Econometrics
The huge amount of data generated by financial markets has entailed a widespread use of econometrics in empirical finance. While econometric research is conducted by specialists, an introduction to financial econometrics is necessary to understand a number of market and product analyses that are based on the use of econometric methods. You will study the main statistical and econometric techniques, and undertake a number of applications, including the estimation of time series models, the modelling of asset price volatility, cross-sectional analysis of stock returns and default events.
Term 2
Five core modules(30 hours each)
Coporate Finance
The main purpose of this module is to develop a clear understanding of the fundamentals of corporate finance and company valuation (and their relationship with the theory and practice of corporate investments through the examination of real-life case studies and contemporary examples). Classes will discuss and compare the main valuation techniques and financing methods. Through the use of examples and case studies, these techniques will be linked to the theory of market efficiency, and then asset pricing models will be discussed. Corporate policy issues such as: capital structure, debt policy and corporate restructuring will be discussed.
Commercial and Investment Banking
This module aims to provide students with an insight into the major features of the banking business and to provide a framework for the understanding of the different types of banks and banking activities. The first part of this module will examine the changing business characteristics of the commercial banking industry while the second part will focus on the global investment banking industry.
Financial Derivatives and Structured Products
Over the past two decades or so, the world economy has changed profoundly: it has become a truly global system, international flows of goods and money have grown explosively, and capital roams freely around the world. It now makes sense to consider the international dimension as an integral part of financial management. This module will provide students with a clear understanding of options and structured products and their role in financial management for companies engaged in international business (with special focus on banks, investment banks and asset managers.)
Financial Risk Management
This module will analyse the most important approaches to financial (market) and credit risk management for banks and financial institutions. Students will analyse the best practice techniques used to measure and manage these risks as well as the role of risk-management to guide business strategy and achieve shareholder value. Risk management will also be set in the context of the international prudential regulation of financial markets activity.
International Finance
The purpose of this module is to provide a clear understanding of the main topics of foreign exchange markets and the range of financial decisions that must take FX rates into account. This topic is crucially important in a world where international trade and international investments have experienced a fast rate of growth. Moreover, a number of decisions by banks and financial institutions are taken against the background of exchange rate variations.
Term 3
Five electives (18 hours each)
OR
Two electives and a project
In additon all students will study a Research Methods module
This module trains students to undertake independent research either in the context of a single organisation or by using third-party sources. It provides the necessary tools and skills to initiate, research and write up a business project and includes training in research methodology, availability of data sources, project writing, time-management and presentation skills. These skills will be invaluable to students in their future career whether or not they choose to complete a project
Electives
You may choose from a wide variety of electives. For example:
* Current issues in financial reporting
* Managing relations with the capital markets
* Consulting skills
* Corporate governance
* Advanced Financial Analysis
* Corporate Restructuring
* Credit Risk
* Emerging Markets Finance
* Entrepreneurial Finance
* Financial Risk Management
* Fixed Income Securities and Derivatives
* Forecasting Financial Markets
* Futures Markets
* Mergers and Acquisitions
* Project Finance
* Raising Equity Capital
* Security Analysis
