60 ECTS
35913
427,5h
Semester 1
Code MMUCA107
ECTS 6.00
Delivery mode On campus
Lecture Hours 30.00
Tutorial Hours 15.00
Code MMMCA103
ECTS 3.00
Delivery mode On campus
Lecture Hours 15.00
Tutorial Hours 7.50
Teaching Language English
Pedagogical objectives
- Explain the main functions of financial markets
- List the main financial markets and market participants
- Describe how markets, banks and insurance companies are regulated
- Explain the process of trading in financial markets (limit order book, fixed income markets
- Calculate the value of the main fixed income instruments such as bonds, commercial papers, foreign exchange
Code MMMCA104
ECTS 3.00
Delivery mode On campus
Lecture Hours 15.00
Tutorial Hours 7.50
Teaching Language English
Pedagogical objectives
By the end of this course, students should be able to:
- explain what derivative instruments are
- explain how derivative instruments may be used to manage risks or design - directional strategies
- price simple forward contracts on financial assets by arbitrage
- price a European call or put option in the binomial model of Cox-Ross-Rubinstein
- use Black Merton Scholes formula to price a European call or put option
Prerequisite
This course is a technical course. Students are expected to have a minimum preparation in probability theory (random variables, expectation, conditional expectation, binomial distribution, normal distribution) and statistics.
Code MMUCA108
ECTS 6.00
Delivery mode On campus
Lecture Hours 30.00
Tutorial Hours 15.00
Teaching Language English
Pedagogical objectives
- Describe the characteristics of different forms of external finance and of the intermediaries that offer them,
- Understand the basic determinants of capital structure and apply these principles to evaluate financial operations,
- Appraise implications of capital structure choices for taxes and financial distress,
- Describe agency problems arising in corporations,
- Discuss the merits of corporate social responsibility,
- Appraise how financial decisions contribute to the objectives of the firm,
- Work effectively in a group.
Code MMUCA103
ECTS 6.00
Delivery mode On campus
Lecture Hours 30.00
Tutorial Hours 15.00
Code MMMCA101
ECTS 3.00
Delivery mode On campus
Lecture Hours 15.00
Tutorial Hours 7.50
Teaching Language English
Pedagogical objectives
- Explain the main features of multivariate functions
- Solve simple problems of constrained optimization
- Utilize optimization methods in selected finance applications
Prerequisite
Basic mathematical calculus, including derivatives of functions of one variable, maximization/minimization of a function of one variable, solution of systems of linear equations
Code MMMCA102
ECTS 3.00
Delivery mode On campus
Lecture Hours 15.00
Tutorial Hours 7.50
Teaching Language English
Pedagogical objectives
- Describe the concept of probability and stochastic variable
- Compute the main moments of stochastic variables
- Utilize probability theory in selected finance applications
Prerequisite
Basic mathematical calculus, including derivative and integration.
Code MMUCA104
ECTS 6.00
Delivery mode On campus
Lecture Hours 30.00
Tutorial Hours 15.00
Teaching Language English
Pedagogical objectives
- Describe the economic foundations for decision making in finance, notably the appreciation of risk
- Explain the economic methodology used to analyze situations of strategic interaction (game theory)
- Solve simple problems of strategic interaction
- Appraise how firms interact strategically in product markets
Prerequisite
Basic mathematical knowledge (basic algebra, derivatives)
Code MMUCA105
ECTS 4.00
Delivery mode On campus
Lecture Hours 15.00
Tutorial Hours 7.50
Teaching Language English
Pedagogical objectives
- Explain the main accounting principles and mechanisms
- Outline the steps to create financial statements : balance sheet and profit and loss account
- Describe and apply some basic international accounting standards
- Present the criteria choose to invest or not in an investment project
Prerequisite
General accounting background.
Code MMUCA109
ECTS 2.00
Delivery mode On campus
Tutorial Hours 9.00
Teaching Language English
Pedagogical objectives
The purpose of these workshops is not only to cover technical aspects, but also to enable students to gain a sense of perspective by taking on the role of recruiter and understanding the recruitment process.
The workshops also enable students from other countries to understand how recruitment works, what goes into an application file, and to identify the corporate culture and tools required to find an internship.
Semester 2
Code MMUCA208
ECTS 6.00
Delivery mode On campus
Lecture Hours 30.00
Tutorial Hours 15.00
Teaching Language English
Pedagogical objectives
- Recognize different types of financial assets
- Discuss the characteristics and pay-offs of financial assets
- Explain the risk/return trade-off of investment strategies
- Describe the benefit of diversification of holding a portfolio of assets
- List the factors which can affect asset prices
- Compute the value of financial assets using traditional asset pricing models
Prerequisite
Notions of probability theory and calculus, utility, derivatives.
Code MMUCA209
ECTS 6.00
Delivery mode On campus
Lecture Hours 30.00
Tutorial Hours 15.00
Teaching Language English
Pedagogical objectives
- Calculate the fair price of a financial instrument
- Identify appropriate financial criteria for investment decisions
- Integrate risk into the cost of capital
- Recognize key financial indicators from financial statements
- Perform corporate valuation based on discounted cash flows
- Reconcile the book and market value of equity
- Calculate price-earnings ratios
Prerequisite
Fundamentals of Accounting; Probability basics, Intermediate Calculus.
Code MMUCA203
ECTS 6.00
Delivery mode On campus
Lecture Hours 30.00
Tutorial Hours 15.00
Teaching Language English
Pedagogical objectives
At the end of the class students should be able to:
- summarise the statistical properties of the OLS estimator
- design a formal econometric test based on an economic argument
- estimate simple statistical tests of hypothesis
- use statistical packages to estimate econometric models
- deduct an economic and statistical interpretation of a regression output
Prerequisite
- Basic knowledge in Finance: returns, market efficiency hypothesis, CAPM, APT, ESG, CSR, dividend, stock repurchase, IPO, earnings announcement.
- Basic knowledge in Statistics: student and normal distributions, hypothesis testing (t-test, F-test, p-value), confidence intervals, type I and type II errors, degree of freedom, skewness, kurtosis, functions (polynomial, exponential, logarithms).
- Basic knowledge in Probability: variance, standard deviation, covariance, correlation, conditional expectation and variance, random variable, central limit theorem, cumulative density function.
- To participate fully and to complete the course successfully, you must ensure you have a computer with reliable access to an Internet connection, access to Google Workspace and the software RStudio.
Code MMUCA204
ECTS 4.50
Delivery mode On campus
Tutorial Hours 45.00
Code MMMCA203
ECTS 3.00
Delivery mode On campus
Tutorial Hours 30.00
Teaching Language English
Pedagogical objectives
- Design an algorithm using a graphical formalism
- Implement an algorithm in VBA, following basic best programming practices
- Modify and debug an existing program using the VBA editor and debugger
- Develop a simple Excel VBA program using simple interactions with the Excel Object Model
Code MMMCA204
ECTS 1.50
Delivery mode On campus
Tutorial Hours 15.00
Teaching Language English
Pedagogical objectives
By the end of this course, students should be able to:
- compute basic financial determinants (NPV, IRR) of an investment project using Excel
- extract, clean and present data and descriptive statistics using Excel
- solve an optimization problem (find the composition of the optimal portfolio)
- compute sensitivity analysis and simulation using Excel
- compute the cost of capital using Excel
- manage cash holdings using Excel
- price an option using Excel
- build autonomously an Excel template to answer a financial problematic
- work effectively in a group
Code MMMCA205
ECTS 1.50
Delivery mode On campus
Tutorial Hours 15.00
Teaching Language English
Pedagogical objectives
- Explain how a Management Information Systems (MIS) can help businesses accomplish their goals and objectives
- Interpret an entity-relationship diagram and translate it into a data model
- Create and execute SQL queries on a given database schema
Prerequisite
Computer basics, office tools
Code MMUCA205
ECTS 3.00
Delivery mode On campus
Tutorial Hours 41.00
Teaching Language English
Pedagogical objectives
- Define the objectives of a project and define the milestones to achieve the objectives
- Plan and use adequate methods to conduct qualified tasks in given frameworks
- Interpret analysis results and make recommendations with valid justifications for actions
Prerequisite
Basic finance knowledge studied in Asset pricing and Corporate finance.
Code MMUCA211
ECTS 2.00
Delivery mode Blended
Lecture Hours 12.00
Tutorial Hours 9.00
Teaching Language English
Pedagogical objectives
- Comprehend research terminology
- Describe ethical principles of research, ethical challenges and approval processes
- Critically evaluate the research design relevant to a specific research question
- Translate academic insights into everyday language
Code MMUCA207
ECTS 2.00
Delivery mode On campus
Teaching Language English
Pedagogical objectives
- Integrate academic theory with practical experience in a professional field of interest
- Develop content specific and transferable skills
- Synthesize information in written and oral form
Prerequisite
Completion of relevant coursework from the first year of the Master's program (M1 classes).