Module Description. Master Programme. International Business and Finance (M.A.)

Transcription

1 Fakultät für Wirtschaft Module Description Master Programme International Business and Finance (M.A.) (Version: ) Introduction: The official requirements for the degree program 'International Business and Finance' have been formally established in the study program, the examination regulations according to the most current version and in the official Statement of Course assessment which is actualized every semester (see Leistungsnachweis ). The module description provides a description of the content of the courses as an orientation guide for your studies. This handbook was carefully written and we have taken every precaution to make sure it is correct. However, errors may still exist. If you happen to notice any discrepancies or inconsistencies, please send an with a short description of the problem at: studiengang.wirtschaft@hs-augsburg.de

2 Hochschule Augsburg Fakultät für Wirtschaft International Business and Finance 1th year M1 Financial Market Decisions... 3 M2 Business Ethics and Corporate Governance... 5 M3 Managing People... 7 M4 Financial Economics, Financial Markets and Monetary Policy... 9 M5 Cases and Projects in Finance...11

3 M1 Financial Market Decisions Lecturer Prof. Dr. Michael Feucht Module coordinator Prof. Dr. Michael Feucht Content Introduction to (Mathematical) Decision Theory Modelling Risk and Uncertainty Mean-Variance Portfolio Theory Market Equilibrium I: CAPM Market Equilibrium II: Arbitrage Pricing Theory Modelling Equity, Debt, Currency and Commodity Markets Introduction to Option Pricing Term Structure of Interest Rates, Forward Contracts and Futures Structured Products Markets and Psychology: Brief Introduction to Behavioural Finance Prerequisite for participation Basic knowledge about financial instruments and financial markets from any business or management related bachelor program Preparation / Reading Recommended reading for course preparation: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett: Multinational Business Finance, 13th ed., Addison-Wesley 2012 (Pearson International Edition) Richard A. Brealey, Stewart C. Myers, Franklin Allen: Principles of Corporate Finance, 11th ed., McGrawHill 2013 Intended learning outcomes Students understand the essentials of mathematical decision theory as well as the psychological aspects of market participant behavior They critically reflect the concepts for performance and risk measurement which are used to support decision taking in financial markets The module provides (in connection with M4 Financial Economics, Financial Institutions and Monetary Policy) a necessary basis for the elective Module Advanced Risk Management It can be used as stand-alone-module within any program with an advanced focus on financial markets Teaching & Learning methods Seminaristischer Unterricht (Lecture with integrated practical problems) The lecture is supplemented by questions for discussion/practical problems/case studies which are either solved as teamwork in class or assigned as homework problems using statistical tools such as MS Excel, MATLAB or R Every student has to work on a semester project covering a topic from Misbehaviour of Markets versus Misbehaviour of Market Participants. The topic is assigned in the first classroom session. Depending on group size, topics may be assigned to groups of two. Literature Hansson, S., Decision Theory A Brief Introduction, Hansson, S., Fallacies of Risk, Hansson, S., Philosophical Perspectives on Risk, International Business and Finance (M.A.) 3 Stand:

4 Copeland, T., Weston, J., Shastri, K., Financial Theory and Corporate Policy, 4 th ed., Amsterdam 2013 (chapters 1 through 8) Hull, J., Options, Futures and Other Derivatives, 8 th edition, Toronto 2011 Course organisation ECTS-Credits 4 Kind of module Compulsory module Workload 4 ECTS-Credits: 120 hours combined out of: Attendance (lectures) SWS 2 (blocked in 6 weeks with 4 lecture hours each and 2 weeks with semester project presentations) Turnus Winter term Preparation / Homework / Self-study Language English Duration 1 Semester Time for exercises and group work 6 weeks * 3 hours = 18 hours 6 weeks * 3 hours = 18 hours 6 weeks * 3 hours = 18 hours Semester project / Presentation Exam preparation Exam time 40 hours for scientific work 8 hours for presentations 16 hours 120 minutes Prerequirement for the exam All students have to work on a semester project. As a prerequisite for the exam, students have to hand in a 20 page scientific paper and present their topic in a 20 minute presentation plus 10 minutes discussion. Exam requirements Weighting in examination Pocket calculator Final grade: No other material allowed in the exam 50% written exam ( closed book ) 25% scientific paper from semester project Semester project and final exam are 25% presentation combined into one grade. They don t have to be passed separately. International Business and Finance (M.A.) 4 Stand:

5 M2 Business Ethics and Corporate Governance Lecturer Michael Hartmann, PhD Content Corporate Governance Developments in Corporate Governance Owners and Stakeholders Directors and Board Structure International Corporate Governance Finance, Law and Markets Corporate Control and Governance Globalization of Corporate Governance Corporate Governance in Crisis Module coordinator Michael Hartmann, PhD Business Ethics Philosophy and Ethics Perspectives on Business Ethics and Values Ethical Issues in Business Ethical Theories and how to Use Them Personal Values in the Workplace Values and Heuristics Individual Responses to Ethical Situations Whistleblower or Witness Social Responsibility, Citizenship, and Governance Sustainability and the Responsible Corporation Ethical Conformance: Codes, Standards, Culture Global and Local Values Prerequisite for participation None Preparation / Reading Students are expected to read the materials outside of class in order to create an environment for class discussion. Two main books have been chosen for the course and will be used as references for definitions and concepts. In addition, literature will include articles from scholars on key issues and topics. Bob Tricker: Corporate Governance, Principles, Policies and Practices, Oxford 2009 John Fraedrich, Linda Ferrell and O.C. Ferrell: Ethical Decision Making in Business: A Managerial Approach 9 th edition, Cengage, 2010 Scholarly articles discussed in class Intended learning outcomes Understanding and critical reflection over the essentials and necessities of business ethics within international corporate governance Creation of an own framework of due diligence and compliant behaviour Understanding of one own s role an behavior and the influence one has on peers and superiors Teaching & learning methods Highly Interactive Teaching and Learning Presentations by Students on Specific Topics Teamwork on Cases International Business and Finance (M.A.) 5 Stand:

6 Literature Corporate Governance Recommended Readings: Bob Tricker: Corporate Governance, Principles, Policies and Practices, Oxford 2009 Christine A. Mallin: Corporate Governance, Oxford 2007 Thomas A. Clarke: International Corporate Governance, New York 2006 Business Ethics Recommended Readings: John Fraedrich, Linda Ferrell and O.C. Ferrell: Ethical Decision Making in Business: A Managerial Approach 9 th International Edition, Cengage, 2010 Joseph W. Weiss: Business Ethics A Shareholder & Issues Management Approach, Mason 2008 Colin Fisher, Alan Lovell: Business Ethics and Values, London 2009 Jean J. du Plessis: German Corporate Governance in International and European Context, Berlin 2007 Course organisation ECTS-Credits 6 Kind of module Compulsory module Workload 6 ECTS-Credits: 180 hours combined out of: Attendance 15 weeks * 4 hours = 60 hours Semester project / Presentation SWS 4 Turnus Winterterm Preparation / Homework / Self-study 45 hours Exam preparation Language English Duration 1 Semester Time for exercise and group work 20 hours Exam time 30 hours 30 hours 120 Minutes Prerequirement for the exam Presentation on ethics or corporate governance topics Exam requirements Weighting in examination Essay examination covering topics from lecture Final grade: and presentation material. 25% Presentation 75% Written Exam International Business and Finance (M.A.) 6 Stand:

7 M3 Managing People Lecturer Prof. Dr. Michael Freiboth Content Leadership Self-efficacy Managerial roles International HR Management Organizational Behavior Industrial Relations Organizational Structure and Processes Performance Management Motivation Prerequisite for participation None Module coordinator Prof. Dr. Michael Freiboth Preparation / Reading Essentials of Organizational Behavior Leadership in Organizations Introduction into Human Resource Management Intended learning outcomes Leading people is one of the key tasks faced by managers Managing people requires a basic understanding of the legal framework, the necessary tools and the way how employees behave in an organizational context Given this situation, the course pursues the following objectives: First of all, the course will familiarize the students with the key theoretical approaches to leadership: trait theories, role theories, leadership styles and ideologies, micropolitics The second objective is to provide the students with specific tools, e.g. selfmanagement, coaching, setting targets etc. It includes fields of classical HR Management like Performance Management, Reward and Recruitment and Selection Teaching & Learning methods Lectures Student presentations Case studies Role plays Literature Bloisi, W. (2006): Introduction into Human Resources Management. McGrawHill Drucker, P. (2005) Managing Oneself. Harvard Business Review 10 Must Reads On Leadership: Harvard Business School Publishing. Boston. Kotter (1998) Leading Change. Harvard Business School Publishing. Boston Yukl, O. (2013) Leadership in Organizations. Pearson Northouse, P. (2006) Leadership: Theory and Practice. Sage Publishing Selected case studies International Business and Finance (M.A.) 7 Stand:

8 Course organisation ECTS-Credits 6 Kind of module Compulsory module Workload 6 ECTS-Credits: 180 hours combined out of: Attendance 15 weeks *4 hours = 60 hours Semester project / Presentation SWS 4 Turnus Winter Term Preparation / Homework / Self-study 15 weeks * 4 hours = 60 hours Exam preparation Language English Duration 1 semester Time for exercise and group work 15 weeks * 2 hours = 30 hours Exam time ---- Prerequisites for the exam none Exam requirements none 35 hours 120 min Weighting in examination Final grade: 100% Written Exam International Business and Finance (M.A.) 8 Stand:

9 M4 Financial Economics, Financial Markets and Monetary Policy Lecturer Prof. Dr. Anton Frantzke Content Part I The Macroeconomics of Financial Markets Part II Money, Capital and the Economy Monetary Policy, Financial Markets and the Economy Monetary Policy in a European context Financial Economics and Financial Markets Structure of Financial Markets Primary and Secondary Markets Efficiency Market Hypothesis Determinants of Asset Prices Risk, Return and the Optimal Portfolio The Equity Market The Fixed Income Markets The Market for Currencies Derivative Security Markets Part III Module coordinator Prof. Dr. Anton Frantzke Financial Institutions and Financial Systems in selected Countries Financial Market and Banking Structure in selected Countries International Financial Institution (Organizations) and their Functions Financial Market Regulations and Systemic Risks The current world financial crisis and its fallout The Future of the Global Financial Architecture Prerequisite for participation Basic knowledge about microeconomics, macroeconomics and international economics from any business related bachelor program Preparation / Reading Recommended reading for course preparation: Samuelson P., Nordhaus W., Economics, McGraw-Hill Intended learning outcomes First, students understand how financial markets are structured and how they work and why they are important for the national and the world economy. They learn and critically reflect the role international institutions and monetary policy play in every economy. Second, students develop an understanding of the microeconomic and macroeconomic effects of the internationalization of financial markets and the condition that must be fulfilled that they can work properly. Third, they work on current financial issues and how they influence the decision making in business monetary authorities and governments. The module provides (in connection with M1 Financial Market decisions) a necessary basis International Business and Finance (M.A.) 9 Stand:

10 for the elective Modules in the 3 term. It can be used as a stand- alone module within any program with an advanced focus on financial markets Teaching & Learning methods. Lecture with integrated practical problems The lecture is supplemented by questions for discussion/practical problems/case studies which are either solved as teamwork in class or assigned as homework problems using statistical tools such as MS Excel or SPSS Literature Blanchard O.: Macroeconomics, Prentice Hall 2009 Bofinger P., Monetary Policy, Oxford UP 2001 Mankiw, G., Macroeconomics, Pearson Education, various editions Mishkin F., Eakins S., Financial Markets and Institutions, Prentice Hall 2009 Fabozzi, F.J., Modigliani, F., Jones F.J.: Foundations of Financial Markets and Institutions, Pearson Education Fabozzi, F.J., Naeve E.H., Zhou G., Financial Economics, Wiley, 2010 Bodi Z., Kane A., Marcus A.J., Investments; McGraw Hill, 9 th edition of later Madura J.: Financial Institutions and Markets, McGraw Hill 2008 or later Course organisation ECTS-Credits 10 Kind of module Compulsory module Workload 6 ECTS-Credits x 25 hours = 250 hours combined out of: Attendance (lectures) SWS 6 Turnus Winterterm Preparation / Homework / Self-study Language English Duration 1 term Time for exercises and group work 15 weeks * 6 hours = 77,5 hours Semester project / Presentation 15 weeks *3,5 hours = 52,5 hours Exam preparation 15 weeks *3,5 hours = 50 hours Exam time 15 weeks *4 hours = 40 hours 30 hours 120 minutes Prerequirement for the exam 50% of Homework assignments have to be solved as a prerequisite for attending the final exam. Exam requirements Weighting in examination Dictionary (bilingual) Final grade: Pocket calculator 25 % Case Study /Paper 25 % Case Study /Presentation 50 % Written Exam International Business and Finance (M.A.) 10 Stand:

11 M5 Cases and Projects in Finance Lecturer Prof. Dr. Thorsten Feix Content Module coordinator Prof. Dr. Thorsten Feix CASES & PROJECTS IN FINANCE In the lecture "Cases and Projects in Finance" we are going to describe and discuss the fundamental principles of Corporate Finance from a multinational, corporate perspective. This includes investment decisions as well as financing decisions. The lecture also frames the electives of the 3 rd semester like "Advanced M&A", "Investment Banking" and "International Treasury Management". The concept of "Cases & Projects in Corporate Finance" is built upon 3 cornerstones: 1. Theoretical Principles and Cases of Investment decisions Goals & governance of the firm The NPV concept Valuing bonds Valuing stocks NPV and other investment criteria Applying investment decisions with NPV 2. Portfolio Theory: Risk, Return and the Capital Asset Pricing Model Risk & return Portfolio theory & Capital Asset Pricing Model (CAPM) Risk & Cost of Capital 3. Introduction into Corporate Finance Overview of Corporate Finance Payout and Debt Policy Presentations The lectures will be framed by intensive case studies, group papers, and discussions of actual Corporate Finance issues on the financing (debt & equity markets) and investment side. Additional guest lectures of leading corporates, investment banks and advisory firms in our series "Blue Chips in Corporate Finance" will be offered. Prerequisite for participation Basic Knowledge in International Financial Theory Preparation / Reading Recommended reading for course preparation: BREALEY / MYERS / ALLAN: PRINCIPLES OF CORPORATE FINANCE (McGraw Hill, 11 th ed.; 2014) The Economist Financial Times Intended learning outcomes Students should get a thorough understanding of Corporate Finance theory and applications on the investment as well as the financing side As well students should be in a position to judge in which case to use which tools and to work on their own on Corporate Finance cases and problems The module provides a necessary basis for the Elective modules Advanced M&A International Business and Finance (M.A.) 11 Stand:

12 Management, International Treasury Management and Investment Banking It can as well be used as stand-alone-module within any program with an advanced focus on financial markets Teaching & Learning methods Lectures with integrated case studies The lectures are supplemented by questions for discussion/practical problems/case studies/web research which are either solved as teamwork in class or assigned as homework problems Literature To be up to date in international financial market matters is a must have. Therefore reading THE ECONOMIST (weekly) and the FINANCIAL TIMES (daily) is mandatory besides the Literature as discussed during the lectures. For the lectures the key supporting book will be BREALEY / MYERS / ALLAN: PRINCIPLES OF CORPORATE FINANCE (McGraw Hill, 11 th ed.; 2014) Course organisation ECTS-Credits 4 Kind of module Compulsory module Workload 4 ECTS-Credits x 30 hours = 120 hours combined out of: Attendance 15 weeks * 1,5 hours = 22,5 hours Semester project / Presentation SWS 2 Turnus Winter term Preparation / Homework / Self-study 15 weeks * 1,5 hours = 22,5 hours Exam preparation Language English Duration 1 semester Time for exercises and group work 15 weeks * 2 hours = 30 hours Exam time 30 hours Prerequirement for the exam none Exam requirements non 15 hours 120 minutes Weighting in examination Final grade: 50% written exam 50 % case study (incl. presentation) International Business and Finance (M.A.) 12 Stand: