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 MMUCA306
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
By the end of this course, students should be able to:
- Apply the arbitrage pricing methodology and discuss cases it does not apply in the pricing of derivatives
- Compute the price of complex derivative instruments (e.g., American or exotic options) and other related financial instruments
- Show how financial intermediaries may hedge their position when they issue derivatives
- Construct investment strategies using derivatives
- Discuss regulation of derivatives contracts
- Work effectively in a group
- Incorporate ethical dimensions and implications for sustainability in financial decisions
- Provide concise summaries of complex cases in both written and oral form
Prerequisite
This course is a technical course. Students are expected to have a minimum preparation in mathematics, statistics, econometrics, and programming.
The course builds on introductory courses in market finance and risk management. Students are expected to have a basic knowledge of standard derivative instruments (forward contracts, options) and of the notion of pricing by arbitrage. Students need to be able to price a forward contract using cash-and-carry and to price a European option in the binomial model. More precisely, for students from Toulouse Capitole University, the following introductory Finance courses are recommended:
- M1 Finance, Toulouse School of Management: Financial Derivatives and Financial Markets
- M1 in Economics, Toulouse School of Economics: Market Finance
The course follows up on the core course Asset Pricing offered in the first semester of the M2 Finance.
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 MMUCA401
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
After this class, students should be able to perform the following tasks:
- Describe the asset management process
- Identify mispriced financial assets
- Design investment strategies
- Assess the performance of investment strategies
- Implement trading strategies
- Apply ethical considerations to management decisions
- Work effectively in a group
Prerequisite
Basic Mathematics and Statistics.
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 MMUCA403
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
By the end of the course, students will be able to:
- Describe the objectives of risk management (shareholder value maximization and beyond)
- Evaluate exposure to different sources of risk (market risk, credit risk, liquidity risk, operational risk)
- Apply the standard tools for Risk Management in Finance and Insurance
Prerequisite
This course requires the understanding of:
- Financial instruments basics;
- Pricing basics (Black-Scholes, Pricing parameters, Discounting);
- Greeks basics (Delta, Vega, Gamma);
Code MMUCA405-MMUCC405
ECTS 4.00
Lecture Hours 24.00
Teaching Language English
Pedagogical objectives
By the end of the course, students should be able to:
- leverage PyData ecosystem to program data science tasks efficiently
- perform data collection, exploration and preparation
- map practical problems to available ML approaches and methods
- implement an end-to-end ML pipeline and assess its performance
- apply ML to common financial use-cases
Prerequisite
Personal laptop with wifi, basic experience with any programming language, basic understanding of math, logic and algorithms.
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.