Credits
60 ECTS
RNCP (National Directory of Professional Certifications)
35913
Number of hours
270h
Semester 3
Code MMUCA301-MMUCB301-MMUCC301
ECTS 5.00
Lecture Hours 30.00
Teaching Language English
Pedagogical objectives
By the end of this course, students should be able to:
- Apply consumption-based asset pricing models to assess risk premia
- Explain the market efficiency hypothesis and its empirical validity
- Discuss the use and role of factor models
- Apply asset pricing models to evaluate investment performance
- Compute the value of fixed income instruments
- Choose the right fixed income instrument according to a financial objective
Prerequisite
Students are expected to have a minimum preparation in mathematics, statistics and econometrics. An introductory course of Asset Pricing is a plus.
Students are expected to have a basic knowledge of standard financial instruments (bonds, forward contracts, options).
Code MMUCA302-MMUCB302-MMUCC302
ECTS 5.00
Lecture Hours 30.00
Teaching Language English
Pedagogical objectives
At the end of this course, students should be able to:
- Apply standard conceptual frameworks used in finance to major corporate events (like e.g. IPOs, M&A, dividend distribution, corporate governance decisions, early stage fund raising,...)
- Evaluate the financial implications of these events
- Identify the ethical issues at stake for corporations
- Appreciate the role of corporate governance.
- Provide concise summaries of complex cases in both written and oral form
- Work effectively in a group
Prerequisite
Foundations on corporate finance theory (Modigliani-Miller, trade-off theory, agency issues, asymmetric information and financial decisions).
Basics of corporate valuation and accounting (financial statements, valuation methods: DCFs, multiples, cost of capital).
Code MMUCA303-MMUCB303
ECTS 5.00
Lecture Hours 30.00
Code MMMCA301-MMMCB301
Lecture Hours 12.00
Teaching Language English
Pedagogical objectives
By the end of the course, students should be able to:
- Explain the main concepts of an ERP and discuss its opportunities and challenges
- Describe the structure of an SAP system
- Navigate through an SAP system
- Execute simple SAP transactions.
- Work effectively in a team
Prerequisite
Basic knowledge in business processes
Basic knowledge of personal computer
Code MMMCA302-MMMCB302-MMMCC302
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
By the end of the course, students should be able to:
- Write a basic Python program;
- Apply different programming paradigms like functional and object oriented programming;
- Use versioning control software;
- Read in and manipulate structured data using dedicated libraries;
- Create some basic models and algorithms in a structured and documented way;
- Synthesize information and present the results in a written form.
Prerequisite
Laptop or access to university computers.
Basic understanding of math and logic.
Code MMUCA304-MMUCB304-MMUCC304
ECTS 5.00
Lecture Hours 30.00
Teaching Language English
Pedagogical objectives
On completion of this course, students should be able to:
- Be familiar with the econometrics techniques used in financial analysis (e.g. event studies, differences- in-differences, time series analysis, panel data analysis)
- Develop an econometric model to test an economic hypothesis
- Implement such an econometric model using standard econometric software (e.g. identify the data, create variables, apply econometric techniques)
- Interpret the outcomes of empirical analyses
- Present the results of the empirical analysis in a professional manner.
Prerequisite
Intermediate knowledge in finance theory and in econometrics.
Code MMUCB306
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
At the end of the course, students should be able to
- Describe valuation methods for non listed companies
- Conduct the financial analysis of a private company
- Apply appropriate valuation methods depending on context
- Assess financial and extra financial value drivers of a business
- Work effectively in a group
- Adapt communication for a managerial audience
- Synthesize information and make focused presentation
Prerequisite
A first course on financial analysis and corporate valuation methods.
Semester 4
Code MMUCA400-MMUCB400-MMUCC400
ECTS 5.00
Lecture Hours 30.00
Teaching Language English
Pedagogical objectives
Upon completion of this course, students will be able to:
- Describe the drivers of international trade and capital flows
- Analyze the functioning of global financial markets (exchange rates, parity relations, international arbitrage)
- Master the fundamental tools for international risk management
- Work with economic models that underpin theories of intermediation and corporate finance
- Understand the interactions between financial markets and financial decisions
- Undertake a model-based analysis of financial decision-making by companies, investors and intermediaries
- Apply ethical considerations to global issues
- Provide concise summaries of complex cases in written form
Prerequisite
Previous exposure to basic finance concepts is a plus.
Code MMUCB402
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
At the end of the course, students should be able to:
- Describe the role of banks as liquidity providers
- Explain the source of fragility of banks
- Illustrate how banks reduce risk through asset-liability management
- Describe how banks implement recent financial stability regulation
- Describe tools offered by banks for corporate cash management
- Work effectively in a group
- Adapt communication for a managerial audience
- Synthesize information and make focused presentation
Prerequisite
None.
Code MMUCA404-MMUCB405
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
At the end of the course, students should be able to:
- Identify the sources of financial markets’ inefficiencies
- Llist the various types of investors’ preferences
- Describe the various types of investors’ cognitive biases
- Use cognitive biases to design trading strategies
- Critically evaluate the impact of psychology on corporate decision-making
- Work effectively in a group
Prerequisite
Basic mathematics and statistics.
Code MMUCB404-MMUCC404
ECTS 4.00
Lecture Hours 24.00
Code MMMCB401-MMMCC401
Lecture Hours 12.00
Teaching Language English
Pedagogical objectives
At the end of the course, students should be able to:
- Describe principles and characteristics of IFRS/IAS for consolidated financial statements
- Evaluate differences between IFRS/IAS and GAAPs
- Apply intricate IFRS/IAS requirements (e.g. IAS 12, IAS 21)
- Execute consolidation of simple financial statements
Prerequisite
A first course in financial accounting and consolidated financial statements.
Code MMMCB402-MMMCC402
Lecture Hours 12.00
Teaching Language English
Pedagogical objectives
At the end of the course students should be able to:
- Explain the principles and regulatory framework of audit
- Describe the legal audit procedure.
- Assess the importance of ethics and compliance in audit procedures
Prerequisite
A first course in financial reporting and consolidated statements.
Code MMUCB403
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
By the end of this course, students should be able to:
- Cassify the different sources of corporate risk
- Calculate some risk measures
- Formulate recommendations for corporate risk management
- Classify the different types of real options
- Identify real options embedded in a corporate decision
- Work effectively in a group
- Provide concise summaries of complex cases in both written and oral form
Prerequisite
The course builds on introductory courses in market finance and derivatives. Students are expected to have a basic knowledge of standard derivative instruments (forward contracts, options), of the notion of pricing by arbitrage, and of the Black and Scholes option pricing formula. More precisely, the following introductory Finance courses are recommended:
- M1 Finance, TSM: Financial Derivatives and Financial Markets
- M1 in Economics, TSE: Market Finance
The course is not highly technical in the sense that it does not focus on the pricing of derivatives instruments but on their use as risk management instruments. It also applies option pricing formulas to price real options. Students are therefore expected to have a minimum preparation in mathematics, statistics, econometrics, and programming, and to use knowledge from the VBA and Asset Pricing courses.
Code MMUCA406-MMUCB406-MMUCC406
ECTS 15.00
Teaching Language English
Pedagogical objectives
At the end of the internship students should be able to:
- Apply academic concepts in a practical situation in a professional environment
- Expand content specific and transferable skills
- Reinforce the professional network
- Respect and integrate the opinion of others
- Synthesize information and make focused presentation
- Apply ethical considerations to management decisions
Prerequisite
Students should have attended the M2 classes before starting the internship.