Informatics for Analysts Eng Master 2015 Spring

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1 General information The following lists include the courses offered wider public on the level of Bachelor and Master degree studies. The courses are grouped by pic focus on pages one and two and by the fit the positions of possible attendees on page three. The remaining pages of text give more detailed overview of subjects (click on the underlined title of the course). Semesters last for 16 weeks, however, some courses may be only 8 or 12 weeks long. Autumn semester starts in September and spring semester in the beginning of February. The exact start dates of the semester vary according the academic calendar. The study level determines the time when the courses take place. Bachelor level courses take place before and Master level courses taught in Esnian starting from on weekdays (some courses may have lectures on weekends) and Master level courses taught in English take place usually between 12 and (in some instances may last up 21.15). COURSES OFFERED BY TOPIC FOCUS Courses broadening general theoretical, econometric and IT skills Course title Language Level Next Semester Corporate Finance Eng Master 2014 Autumn Corporate Finance Est Master 2014 Autumn Basics of Finance Est Bachelor 2015 Spring Macroeconomics Eng Master 2014 Autumn Econometrics I Eng Master 2014 Autumn Econometrics II Eng Master 2015 Spring Multivariate Statistical Eng Master 2015 Spring Analysis Informatics for Analysts Eng Master 2015 Spring Economy-wide issues Course title Language Level Next Semester Economics of Competition Eng Master 2014 Autumn Global Economic Trends Eng Master 2014 Autumn Money, Markets and Financial Eng Master 2014 Autumn Intermediation Financial Markets and Est Master 2015 Spring institutions 1

2 Company level issues Course title Language Level Next Semester Financial Analysis * Eng Master 2015 Spring Analytical Writing and Eng Master 2015 Spring Presentation * Financial Management Eng Master 2014 Autumn Financial management Est Bachelor 2015 Spring International Business Est Master 2014 Autumn Finance Valuation of Corporate Eng/Est Master 2015 Spring Business * Two courses are offered as a joint module, as the writing and presentation assignments are interlinked between the courses. Financial instruments Course title Language Level Next Semester Investment Analysis Eng Master 2014 Autumn Fixed Income Instruments Eng Master 2014 Autumn Derivative Instruments Eng Master 2015 Spring Portfolio Management Eng Master 2015 Spring Risk Management Eng Master 2015 Spring Addtional information can be found on the 2

3 COURSES GROUPED BY THE POSITIONS OF ATTENDEES Employees of financial institutions Manager - Economics of Competition, Global Economic Trends, Risk Manager, Fund or Portfolio Manager Financial Markets and Institutions, Investment Analysis, Fixed Income Instruments, Derivative Instruments, Portfolio Management, Risk Management. Credit Analyst Corporate Finance, Informatics for Analysts, Economics of Competition, Global Economic Trends, Financial Markets and Institutions, Financial Analysis, Analytical Writing and Presentation, Financial Management, Valuation of Corporate Business. Equity Analyst - Corporate Finance, Informatics for Analysts, Economics of Competition, Global Economic Trends, Money, Markets and Financial Intermediation, Financial Markets and Institutions, Financial Analysis, Analytical Writing and Presentation, Financial Management, Valuation of Corporate Business, Investment Analysis, Fixed Income Instruments, Derivative Instruments, Portfolio Management. Cusmer Relationship Manager - Corporate Finance, Money, Markets and Financial Intermediation, Financial Markets and Institutions, Portfolio Management. IT personnel involved in business analysis Multivariate Statistical Analysis Broker - Investment Analysis, Fixed Income Instruments, Derivative Instruments, Portfolio Management. Modeller - Econometrics I, Econometrics II, Multivariate Statistical Analysis. Employees of other types of companies Manager Corporate Finance, Economics of Competition, Global Economic Trends, Money, Markets and Financial Intermediation, Financial Management, International Business Finance. Financial Manager Corporate Finance, Informatics for Analysts, Money, Markets and Financial Intermediation, Financial Markets and Institutions, Financial Management, International Business Finance, Valuation of Corporate Business, Derivative Instruments, Risk Management. Financial Analyst Corporate Finance, Informatics for Analysts, Economics of Competition, Global Economic Trends, Financial Markets and Institutions, Financial Analysis, Analytical Writing and Presentation, Financial Management, International Business Finance, Valuation of Corporate Business, Investment Analysis, Derivative Instruments, Risk Management. Business Analyst - Corporate Finance, Informatics for Analysts, Multivariate Statistical Analysis, Economics of Competition, Global Economic Trends, Financial Markets and Institutions, Financial Analysis, Analytical Writing and Presentation, Financial Management, Valuation of Corporate Business, Risk Management. Accounting Specialist Corporate Finance, Informatics for Analysts, Financial Management, International Business Finance, Valuation of Corporate Business. Others Public Officials Basics of Finance, Informatics for Analysts, Economics of Competition, Global Economic Trends, Money, Markets and Financial Intermediation, Risk Management. Strategists Economics of Competition, Global Economic Trends. Persons without previous education in economics or business - Basics of Finance, Money, Markets and Financial Intermediation. 3

4 Courses broadening general theoretical, econometric and IT skills Course title Course code Volume of studies (ECP) 4 Semester Level Lang. Next Corporate Finance TER Autumn Master Eng 2014 Corporate Finance TER Autumn Master Est 2014 Basics of Finance TER Spring Bachelor Est 2015 Macroeconomics TET Autumn Master Eng 2014 Econometrics I TES Autumn Master Eng 2014 Econometrics II TES Spring Master Eng 2015 Multivariate Statistical TES Spring Master Eng 2015 Analysis Informatics for Analysts IDK Spring Master Eng 2015 Course descriptions Corporate Finance (TER2407/TER1420) Both TER2407 and TER1420 provide a systematic overview of corporate finance theoretical base, methods and their applications for making decisions in real world situations. Topics covered include introduction portfolio management, capital budgeting, cost of capital and management of capital structure, working capital management and introduction fundamental valuation. TER1420 is in Esnian, however TER2407 is in English and follows more closely CFA requirements. Target audience: Credit/ Equity/ Financial/ Business Analyst, Financial Manager, Accounting Specialist, Cusmer Relationship Manager, Manager. Basics of Finance (TER0420) provides comprehensive knowledge about the basic concepts of finance and provides background for further finance studies. The course takes place in Esnian. Topics covered include time value of money, financial statements and analysis, introduction portfolio theory, overview of derivative instruments, market efficiency, capital budgeting, financing decisions, introduction international finance. Target audience: persons without previous education in economics or business, persons requiring additional knowledge in finance, officials dealing with economy-related issues. Macroeconomics (TET2406) - focuses on deepening the knowledge about mechanisms behind macroeconomic processes and improves the assessment of the potential outcomes of economic policy decisions. The course uses the latest textbook by P.B. Sorensen, the chief economist of Danish central Bank, and prof. Whitta-Jacobsen; in the textbook the outcomes of macroeconomic models are confronted with empirical data. The course covers different models explaining economic growth, structural unemployment, consumption and investment decisions, business cycles, the outcome of monetary and fiscal policy. The course requires basic knowledge in math be able solve the models. Target audience: Economists, professionals who need relate the macroeconomic processes the business environment. Econometrics I (TES2401) covers the multiple linear regression model. This is the fundamental building block most advanced econometric techniques. The course takes a mainly technical approach, focusing on the "how " and the "what for" (rather than on pure theory). As

5 laborary experiments in social sciences are either not entirely possible, or only in their infancy, Econometrics offers the ols simulate experiments ("making comparisons possible by controlling for other facrs") through the use of non-experimental data. It develops the ability manipulate data in order extract precise conclusions about economic, financial, and social questions, with the main focus on separating causation from simple correlation. Topics covered include, simple linear regression, multiple regression analysis, ANOVA, F-test, use of dummy variables, testing for heteroscedasticity, aucorrelation, normality of residuals, multicollinearity and model specification. Software used: Stata. Prerequisite knowledge: a solid Statistics foundation. Target audience: Modeller, and everyone interested in being self-sufficient in estimation and inference. Econometrics II (TES2402) covers time series, panel data, and limited dependent variable models. These are the main fundamental techniques necessary explore financial data (asset prices and returns, etc.), and also macroeconomic data sets. The course takes a hands on approach, focusing on the practical applications of the concepts learned. Special attention is given forecasting methods. The pics covered include Granger causality, stationarity and unit root tests, cointegration, ARIMA and VAR models, volatility modelling, fixed and random effects models for panel data, logit, probit and bit models. Software used: Eviews. Prerequisite knowledge: an understanding of the multiple linear regression model (see Econometrics I above) is recommended. Target audience: Modeller, Analyst. Multivariate Statistical Analysis (TES2403) provides knowledge in methods of multivariate statistical analysis and applications thereof in business, economics and other fields with practical examples and exercises in conducting multivariate analysis. Course covers introduction multivariate data and data visualization, canonical correlation analysis, linear discriminant analysis, principal components analysis, facr analysis, cluster analysis and multidimensional scaling. STATA and R statistical computing environment are used for training multivariate techniques. Target audience: IT personnel involved in business analysis, Modeller, Business Analyst. Informatics for Analysts (IDK1080) - provides essential skills for analysts dealing with data analysis. Basic skills using spreadsheet systems are needed. The course level corresponds the needs of advanced Excel users covering the pics of advanced calculations the use of different functions, data exchange between software packages. Most important pic of this course is programming language VBA for aumating tasks, for adding functionality, for creating user-friendly interface. The course also covers the basics of database structure, relationships, queries including SQL language. Target audience: Credit/ Equity/ Financial/ Business Analyst, Financial Manager, Accounting Specialist, Public Official. 5

6 Specialised courses Economy-wide issues Course title Course code Volume of studies (ECP) Semester Level Lang. Next Economics of Competition TER Autumn Master Eng 2014 Global Economic Trends TET Autumn Master Eng 2014 Money, Markets and 5 Autumn Master Eng 2014 TER2408 Financial Intermediation Financial Markets and TER Spring Master Est 2015 Institutions Course descriptions Economics of Competition (TER1407) focuses on the analysis of determinants of competitiveness from the perspective of firms, clusters, subnational units and nations. Course is based on materials developed by the Harvard Business School and the study process is heavily rooted in case-based teaching requiring active student involvement. Cases are drawn from different countries, clusters and regions incl. Nokia and Finland, Costa Rica, Volvo Trucks, Dutch flower cluster, California Wine cluster, New York City, Basque country, Esnia and European Union. Target audience: Manager, Credit/ Equity /Financial/ Business Analyst, Public Official, Strategist. Global Economic Trends (TET2409) focuses on the nature, processes, and consequences of economic globalization. The course provides an extensive, deep and updated view of the globalization facts, possibly correcting some misconceptions, and it develops a critical and prospective attitude wards contemporary trends. It draws on economics, geography, and sociology. Analysis is carried on for specific economic secrs, and their integration in the world economy. Attention is paid how companies adapt changes in economic environment. The course takes a neutral position on international affairs, while encouraging the development of well-grounded, high-quality opinion. It is based on the leading textbook on economic geography, Dicken's 'Global Shift', and in readings from major information sources (The Economist, Stratfor, NYTimes, etc.). Prerequisite knowledge: macroeconomic concepts (GDP, GNP, trade balance, etc.); ability correctly read complex graphs. Target audience: Manager (including manager in international business), Strategist, Credit/ Equity/ Financial/ Business Analyst, Government Consultant, Public Officials Money, Markets and Financial Intermediation (TER2408) - provides an overview of the structure of the financial secr including financial markets and securities, financial institutions and services, monetary system, of their functioning and role in economy, of central bank policy, of functioning of international currency system and European monetary union, basics of financial institution management and the financial system s influence on the real secr enterprises. Target audience: persons without previous education in economics or business, Equity Analyst, Cusmer Relationship Manager, Manager, Financial Manager, Public Officials. 6

7 Financial Markets and Institutions (TER1220) provides an overview of different types of financial markets with a focus on various financial instruments, market participants and connections and relations between different markets. The course is taught in Esnian. Other pics include introduction valuation methods of equity and derivative instruments, overview of the known (behavioural) inefficiencies of the mostly efficient markets, initial public offerings, conflict of interest and investment fund industry. No prior knowledge of financial markets or instruments is required. Target audience: Fund or Portfolio Manager, Credit/ Equity/ Financial/ Business Analyst, Risk Manager, Cusmer Relationship Manager, Financial Manager. 7

8 Company level issues Course title Course code Volume of studies (ECP) Semester Level Lang. Next Financial Analysis TER2401* 5 Spring Master Eng 2015 Analytical Writing and TSK1012* 3 Spring Master Eng 2015 Presentation Financial Management TER Autumn Master Eng 2014 Financial management TER Spring Bachelor Est 2015 International Business TER Autumn Master Est 2014 Finance Valuation of Corporate TER Spring Master Eng/Est 2015 Business * TER2401 and TSK1012 are offered as a joint module, as the writing and presentation assignments are interlinked between the courses. Course descriptions Financial Analysis (TER2401) The course on financial analysis is suited persons already familiar with basic financial analysis concepts including financial ratios and who want increase their knowledge on more specialised financial analysis pics and update their skills of writing an analysis in English. The pics cover financial analysis process, accounting analysis, financial analysis techniques (incl. index decomposition analysis), credit analysis, financial analysis of banks, performance measurement and analysis of mergers and acquisitions. The course focuses more on carrying out the analysis of financial statements of different types of international companies including ABB and UBS. As home assignments other industries are covered and the assignments are used as additional input on course TSK1012 Analytical Writing and Presentation. Target audience: Credit/ Equity/ Financial/ Business Analyst. Analytical Writing and Presentation (TSK1012) Mainly intended be taken simultaneously with TER1012 Financial Analysis as they complement each other. The course focuses on developing the skills for obtaining, analysing and critically evaluating the information obtained through communication process or retrieved from texts. Strong emphasis is on improving the students ability write analytical text in English and on presenting the results of an analysis in a persuasive and informative manner. As the latter activity requires some real life setting, the course uses extensively the home assignments of TER1012 Financial Analysis and helps be better prepared for fulfilling these assignments. Target audience: Credit/ Equity/ Financial/ Business Analyst. 8

9 Financial Management (TER2413) focuses on developing the skills of financial management using the analysis of cases and requires familiarity with key financial management concepts. The course is in English as some cases are taken from an international case database. Some cases cover also Esnian companies. The cases cover the main financial management concepts including working capital management, financial planning, capital structure decisions (increasing leverage, IPOs), ethics in finance, investment analysis, financial distress. Companies analysed include amongst others Dell, Wrigley, Facebook, Väätsa Agro and the ethics case focuses on the investment scam of Bernard Madoff. Target audience: Manager, Financial Manager, Accounting Specialist, Credit/ Equity/ Financial/ Business Analyst, Financial Management (TER0610) This course is suitable persons already familiar with key finance concepts. As this course follows TER0420 Basics of Finance course in Bachelor curriculum, it complements the former s focus with more specialised pics. The course is in Esnian and covers pics including performance measurement, investments decisions in practice (capital rationing, leasing, investments under uncertainty), working capital management, risk management of a company, financial planning, financing decisions in practice (incl. the connections between financing and investment decisions, capital structure and dividend decisions) and analysis of company restructurings and liquidation. Target audience: Financial Manager, Accounting Specialist. International Business Finance (TER1320) The course focuses on the financial aspects of operating a company in an international context. The course is taught in Esnian. The aim of the course is give a background the global economic and financial environment, and an understanding of company level financial issues that arise in an international environment along with some practical ols cope with the financial challenges that such operations pose. Key pics: global economic environment and its effects on company financial performance; foreign exchange, exchange rate systems and the determination of exchange rates; foreign exchange markets and related financial instruments; purchasing and interest parities theories and their validity in practice; the nature and management of operational foreign exchange risk and exposure; international perspective of financing a company; investment decisions in an international environment; principles and effects of international taxation. Target audience: Manager, Financial Manager, Accounting Specialist, Credit/ Equity/ Financial/ Business Analyst. Valuation of Corporate Business (TER1499) Topics covered include financial ratio analysis and comparisons with benchmarks, financial forecasts of the enterprise, credit ratings and financial ratios, firm value creation and measurement, valuation methods. Target audience: Credit/ Equity/ Financial/ Business Analyst, Financial Manager, Accounting Specialist. 9

10 Financial instruments Course title Course code Volume of studies (ECP) Semester Level Language Next Investment Analysis TER Autumn Master Eng 2014 Fixed Income Instruments TER Autumn Master Eng 2014 Derivative Instruments TER Spring Master Eng 2015 Portfolio Management TER Spring Master Eng 2015 Risk Management TER Spring Master Eng 2015 Course descriptions Investment Analysis (TER2403) focuses on different investment valuation methods with a hands-on approach where all (both lecture and practice) sessions are held in the computer class. The course is more focused on the equity analysis side, although the course also covers the issues related alternative investments: index funds, ETF-s, hedge funds, commodities and futures as well as behavioural facrs of investment decisions and investment industry s ethical and professional standards. The main aim of the course is strengthen the knowledge of valuation methods such as valuation multiples, DDM, FCFF, FCFE, residual income, technical analysis, market-based valuation, comparison of alternative investments and most importantly, apply that knowledge on practical assignments with real companies and data and make informed investment decisions based on valuation results and market or competitive environment of the underlying instrument. Some knowledge of the basic valuation methods is expected from the student, although this can be overcome by putting more effort on the assigned readings which also contain introducry level material. The course follows closely the CFA requirements. Target audience: Fund or Portfolio Manager, Risk Manager, Equity Analyst, Financial Analyst, Broker. Fixed Income Instruments (TER2404) focuses on the analysis of fixed income instruments and markets. During the lectures the main characteristics of the investment instruments will be presented, and their valuation, return and risk profile will be analysed. Also the characteristics of different asset classes within the fixed income world will be presented, gether with derivative instruments (forward and futures contracts, credit derivatives). Particular attention will be devoted the management of portfolio of fixed income securities, and the active strategies applied fixed income portfolios, with practical examples. The course follows closely the CFA requirements. Target audience: Fund Manager, Portfolio Manager, Equity Analyst, Risk Manager, Brokers. Derivative Instruments (TER2405) - provides a thorough overview of derivative instruments such as options, forwards, futures, swaps and swaptions and their markets, as well as the aspects of risk management which are connected or can be solved by the use and principles of derivative instruments. The course mainly deals with valuation and modelling methods for the named derivatives. In the purely mathematical field of derivatives, this course can be classified as more of an introducry in nature with the aim develop skills for the use of derivatives and the application of the methods in practice. Still, it would be beneficial if the students feel comfortable at least reading simple formulas and notions in basic financial mathematics. The course follows closely the CFA requirements. 10

11 Target audience: Fund Manager, Portfolio Manager, Broker, Financial Manager, Risk Manager, Equity Analyst, Financial Analyst,, Energy or Derivatives Broker or back-office specialist. Portfolio Management (TER2406) - focuses on the entire flow of the portfolio management process: formulating an investment strategy, forming expectations on financial assets return and risk, constructing a portfolio, executing trades, moniring and rebalancing the portfolio. During the course the analytical framework necessary for portfolio management will be developed gether with practical examples. The course follows closely the CFA requirements. Target audience: Fund Manager, Portfolio Manager, Risk Manager, Equity Analyst, private and institutional client wealth manager, broker, Cusmer Relationship Manager. Risk Management (TER2411) - provides a detailed overview personal, company, investment and portfolio risk management principles and develops skills for applying risk management strategies in practice. Target audience: Risk Manager, Fund Manager, Portfolio Manager, Financial Manager, Financial/ Business Analyst, Manager, Public Official. 11