PHD PROGRAM IN FINANCE COURSE PROGRAMME AND COURSE CONTENTS

Transcription

1 PHD PROGRAM IN FINANCE COURSE PROGRAMME AND COURSE CONTENTS I. Semester II. Semester FINC 601 Corporate Finance 8 FINC 602 Asset Pricing 8 FINC 603 Quantitative Methods in Finance 8 FINC 670 Seminar 4 (2 Electives 16 ECTS) 32 ECTS (2 Electives 16 ECTS) 28 ECTS III. Semester IV. Semester (2 Electives 16 ECTS) (2 Electives 16 ECTS) V. Semester VI. Semester FINC 660 Qualifier Exam 30 FINC 650 PhD Dissertation 150 VII. Semester FINC 650 PhD Dissertation Cont. VIII. Semester FINC 650 PhD Dissertation Cont. TOTAL: 240 ECTS COURSES Code Compulsory AKTS FINC 601 Corporate Finance 8 FINC 602 Asset Pricing 8 FINC 603 Quantitative Methods in Finance 8 FINC 670 Seminar 4

2 Code Electives AKTS INTF 512 International Financial Management 8 INTF 561 INTF 562 International Financial Markets and Institutions International Investment and Portfolio Management 8 8 INTF 574 International Banking 8 ECON 612 Microeconometrics 7 ECON 613 Macroeconometrics 7 ECON 618 International Economics 7 ECON 622 Financial Economics 7 FINC 651 Structure of Financial System 8 FINC 652 Advanced Financial Management 8 FINC 653 Directed Readings in Finance I 8 FINC 654 Banking and Financial Markets 8 FINC 655 Advanced Corporate Finance 8 FINC 656 Contemporary Issues in Finance 8 FINC 661 Financial Risk Management 8 FINC 662 Empirical Models in Finance 8 FINC 663 Behavioral Finance 8 FINC 664 Directed Readings in Finance II 8 FINC 665 Real Estate Valuation 8 FINC 666 Stochastic Models in Finance 8 FINC 667 Computer Aided Financial Modeling 8

3 Code Doctoral Proficiency ECTS FINC 660 Qualifier Exam 30 Code Thesis ECTS FINC 650 PhD Dissertation 150 COURSE DESCRIPTIONS INTF 512 International Financial Management Financial system characteristics of multinational corporations; management of short term active assets; management of fixed assets; short term financial resources of multinational corporations; equity procurement, investment decisions; mergers and acquisitions; risk capital. INTF 561 International Financial Markets and Institutions This course aims to explain the role of financial institutions and markets in the business environment. It also helps developing a series of applications of principles from finance and economics that explore the connection between financial markets, financial institutions and the economy. INTF 562 International Investment and Portfolio Management This course aims to provide an analytical and theoretical framework for investment analysis and portfolio theory that will be needed i) to solve the financial problems in the business environment, ii) to follow advanced level finance courses and iii) to be able conduct a thesis study in this field. This course focuses on risk and return trade-off, efficient diversification, capital asset pricing model, arbitrage pricing model, efficient markets hypothesis, financial derivatives, option pricing model and portfolio performance evaluation. INTF 574 International Banking The purpose of this course is to provide students with an understanding of operations of international banking. The course covers; credit analysis, foreign exchange markets and foreign exchange transactions, debt crises, bills for collection, letter of credits, offshore financial centers, organization of international banking and international supervision.

4 ECON 612 Microeconometrics Application of econometric methods to microeconomics. Linear probability models, logit, probit, tobit models, truncated regression model. ECON 613 Macroeconometrics Application of econometric methods to macroeconomics. Time series analysis, vector autoregressive models, co-integration and error correction models. ECON 618 International Economics This course examines the determination of exchange rates, the current account and other important macroeconomic variables in an open economy. The course aims to develop a general framework to address important policy questions and provide a sound understanding of exchange rate determination, balance of payments problems and implications of macroeconomic and financial linkages between economies. The course will cover recent topics in the area of open economy macroeconomics and international monetary economics. ECON 622 Financial Economics Provides an introduction to financial derivatives and structured financial products, with emphasis on futures, options, credit derivatives, swaps, economic theory, valuation methods, trading strategies, hedging, and securitization. Emphasizes real world applications and developments in the financial market. FINC 601 Corporate Finance In this course, the fundamental concepts of corporate finance in finance theory will be discussed. More specifically, concepts such as interests, time value of money, indices in capital markets, valuation methods of securities, risk, financial planning, cost of capital, optimal capital structure, working capital management, capital budgeting, mergers and acquisitions will be covered. This course provides knowledge of finance theory that will be needed to deal with the practical financial problems at work and that will be required for advanced finance courses and thesis study. FINC 602 Asset Pricing In this course, basic concepts in asset pricing theory such as risk and return of a portfolio, optimal portfolio selection, capital asset pricing model, arbitrage pricing model, portfolio performance, fundamental analysis and technical analysis will be discussed.

5 FINC 603 Quantitative Methods in Finance This course introduces students various research methods and tools used in financial research. Students will learn probability distributions, single and multiple regression models, parameter estimates, hypothesis testing, goodness of fit tests, properties of financial time series, basic forecasting techniques and modeling volatility. FINC 651 Structure of Financial System Financial system is identified, its working mechanisms are explained, the institutions in the financial system and the relations among them are presented in this course. Securities, stock exchanges, bond markets, other organized exchanges, clearing settlement and custody services are among the topics that will be covered in this course. FINC 652 Advanced Financial Management This course covers topics of financial system characteristics of multinational corporations; management of short term active assets; management of fixed assets; short term financial resources of multinational corporations; equity procurement, investment decisions; mergers and acquisitions; risk capital within a framework of an advanced setting. FINC 653 Directed Readings in Finance I This course covers the relevant topics in corporate finance such as financial planning, valuation, capital budgeting, cost of capital, capital structure, dividend policy, short and long term financing among others. These topics will be analyzed by examining the groundbreaking and the most current articles in order to comprehend the past, the present and the future of given topic. FINC 654 Banking and Financial Markets This course covers regulations and regulators in banking environment and in financial markets and institutions. Money and banking, financial services, banking services and operations, lending, credit card payments and customer relations are among the topics that will be covered. FINC 655 Advanced Corporate Finance Corporate finance theory will be discussed in an international framework in this course. The basic concepts are international debt financing, international equity financing, international

6 capital market equilibrium, country and political risk, international capital budgeting, international portfolio theory and diversification. FINC 656 Contemporary Issues in Finance This course aims to cover recent developments or special topics in finance and its content is flexible. Articles and case studies will be studied on a round table discussion basis. The course may also serve students who want to specialize in certain topics. FINC 661 Financial Risk Management The main objective of this course is to explain how financial derivatives are used in managing financial risk and how they are priced. For these purposes, the features of financial instruments, the structure of futures, forward and options markets, arbitrage and hedging with derivative instruments are studied in detail. FINC 662 Empirical Models in Finance This course provides the statistical and econometric background that is needed in conducting research and/or thesis study in the area of finance. In this context, empirical methods that are widely used in applied research on subjects such as portfolio theory, asset pricing models, factor models and market efficiency will be examined. By applying these methods on real financial data with the aid of computers, students will gain familiarity and competency in empirical research in finance. FINC 663 Behavioral Finance How financial decision making process works when investors and market participants behave irrationally will be explained in this course. The development of behavioral finance approach, seasonal and price anomalies, over confidence, over-reaction and under reaction behaviors are discussed in this course. FINC 664 Directed Readings in Finance II This course covers the relevant topics in investment such as asset returns, efficient capital market, asset pricing, portfolio construction, management and evaluation, performance analysis among others. These topics will be analyzed by examining the groundbreaking and the most current articles in order to comprehend the past, the present and the future of given.

7 FINC 665 Real Estate Valuation The course focuses on understanding the economic, financial and institutional dynamics involved in the management of real estate investments. The methods of valuing real estate investments, comparison of these methods, real estate markets, real estate finance, mortgages are some of the topics covered in this course. FINC 666 Stochastic Models in Finance This course covers certain mathematical techniques for presenting in financial applications. These topics are martingale methods, stochastic processes, optimal stopping, modelling uncertainty, stochastic calculus, and stochastic differential equations among others. These techniques will be applied in financial applications. FINC 667 Computer Aided Financial Modeling This course aims to equip the students with the capability of solving problems in finance with the aid of computers. The learning outcomes are the use of spread sheets to solve large scale problems in time value of money calculations, stock and bond valuation, capital budgeting, financial planning, constructing efficient portfolios and etc. FINC 650 PhD. Dissertation In this course, the students are required to prepare the PhD. Dissertation that they will defend at the end of the program under the supervision of their advisors. FINC 660 Qualifier Exam To be able to start PhD Dissertation study, the PhD candidate must pass the Qualifier Exam. The PhD candidate must take the Qualifier Exam within a semester after completing all the required courses successfully. The Qualifier Exam consists of a written and an oral exam. FINC 670 Seminar This is a compulsory course in the program. The students will conduct research on a topic to be determined with the supervisor and present a seminar paper at the end of the course. Students are encouraged to prepare papers that would be a preliminary study for their thesis thus is offered by a relevant professor in the field.