MASTERS 2014-2015 THINKING IS A FACULTY

MASTERS 2014-2015 THINKING IS A FACULTY

MASTERS 2014-2015 MBA ISEG KNOWING HOW TO CONQUER 2014 IS - 2016 A FACULTY.

4 INDEX 05 06 07 08 MESSAGE FROM THE DEAN WHY ISEG? ISEG IN NUMBERS ISEG TIMELINE 10 12 14 16 MASTER IN ACTUARIAL SCIENCE MASTER IN ECONOMICS MASTER IN FINANCE MASTER IN MONETARY AND FINANCIAL ECONOMICS 18 21 22 24 LIVING AT ISEG CAREERS CAREER MANAGEMENT + CAREER FORUM 25 26 27 AWARDS HOW TO FIND US APPLY WHAT COMPANIES HAVE TO SAY ABOUT OUR STUDENTS

MESSAGE FROM THE DEAN 5 IF YOU THINK IT OVER, YOU LL REALISE THAT MARKETS ONLY WANT THE BEST. Hi! It is with great honour and satisfaction that I address myself to you in my role as the Dean of ISEG, a school which, above all, has pride in its students, in those who have had the audacity to make a difference, to think and to make decisions that make the world a better place. For this reason, every year ISEG prepares not only a curriculum which conforms with the highest of international standards so that you can grow academically, but also programmes that help you mature as a person and develop your skills of teamwork, leadership, communication and an awareness of social responsibility. At ISEG we provide the best university environment, in order that you can feel comfortable and focus on what is really important: constructing your future. At ISEG we believe that thinking is a faculty which will help you overcome the challenges that await you in the future. If you think it over, you ll realise that markets only want the best. João Duque Dean and Professor of Finance at ISEG

6 WHY ISEG? THINKING IS A FACULTY. Knowing how to think isn t for all of us. Because those who know how to think, know that the best option is to prepare our own future. Those who know how to think, don t look to the left or the right, but just move on forward. Don t believe in what s right or wrong. Believe in yourself and respect teamwork, which brings together the best of each of us and transforms the weak into the strong, problems into solutions and thus changes the world. Those who know how to think, ask for nothing less than the impossible and do all possible to turn this into a reality. Because knowing how to think is more than a quality, is more than a vocation: it is a faculty. All you have to do is choose yours well.

ISEG IN NUMBERS 7 4 6 SCIENTIFIC DEPARTMENTS RESEARCH CENTRES 6 UNDERGRADUATE DEGREES 2600 students 20 MASTERS 1100 students 28 POSTGRADUATIONS 450 students 1 MBA 50 students 6 PHD DOCTORATES 200 students 150 CAREER ACADEMIC STAFF 90% attached to research centres 95% with a PhD

8 ISEG TIMELINE MASTERING THE POWER OF THINKING SINCE 1911 Creation of the College of Commerce Launch of the first edition of the Journal of the School of Commerce, which was the first Economics and Management journal in Portugal. The School s designation is changed to the School of Economics. 1759 1911 1918 1930 1972 1990 Foundation of the School of Commerce, now ISEG, from the Lisbon School of Industry and Commerce. Foundation of the Technical University of Lisbon (Universidade Técnica de Lisboa), comprised of: the School of Agriculture, the School of Technology, The School of Economic and Financial Sciences (the former School of Commerce) and the Veterinary School. The School adopted its current designation as the Lisboa School of Economics and Management - ISEG.

ISEG TIMELINE 9 Creation of the Alumni Económicas Association, the largest network of ex-students of Economics and Management schools in the country. 100 years after its foundation, ISEG maintains its position as one of the leading schools in its scientific field in Portugal. This same year, the President of the Republic awarded ISEG the status of Honorary Member of the Military Order of Sant lago da Espada. ISEG benefits from a solid reputation in the Portuguese market and is established as a respected brand, both at a national and international level. It presently has more than 4,200 students, studying for 6 undergraduate degrees, 19 Masters degrees, 6 PhD doctorates and more than 50 executive training programmes. More than ten of these degrees are lectured entirely in English, covering all cycles of higher education. 1991 1998 2011 2012 TODAY Inauguration of the new building for the library, which was given the name of Biblioteca Francisco Pereira de Moura. Merger of the Universidade Técnica de Lisboa with the Universidade de Lisboa. With over 100 years of history, ISEG became part of the largest university in Portugal - the Universidade de Lisboa.

10 MASTERS IN ACTUARIAL SCIENCE ACTUARIAL SCIENCE SCIENTIFIC AND PEDAGOGICAL COMMITTEE Maria de Lourdes Centeno (programme director) João Andrade e Silva Onofre Simões The Master in Actuarial Science was designed for students with a first cycle degree in Mathematics, Statistics, Economics, Finance or Management, who are seeking to enter the actuarial profession and pursuing a path towards this rewarding career. The main objective of the Master in Actuarial Science is to train students for the actuarial profession, in its multiple components: life, non-life, financial and pension funds. The programme offers a solid academic foundation in actuarial science, statistics and finance. The Master was conceived according to the international requirements for the actuarial profession. It is meant to cover most of the course materials indispensable for the accreditation of an actuary in the European Union, in accordance with The Actuarial Association of Europe, as well as the course materials of exams FM, C, MFE and MLC of the Society of Actuaries in North America. The Master in Actuarial Science at ISEG was evaluated by The Institute and Faculty of Actuaries, in the UK, and an Exemption Recognition Agreement has been awarded. Any student doing well enough in the programme, as determined by an examiner appointed by the IFoA, will be exempt from some of the UK professional actuarial examinations. The present study programme was accredited by the Portuguese Agency for Assessment and Accreditation of Higher Education - A3ES. DETAILS Schedule: Daytime Starting Date: september, 22 nd 2014 Places Available: 25 Fees: 5000

11 STUDY PROGRAMME 1 st year 1 st semester 6 Financial Markets and Investments Raquel Gaspar 8 Financial Mathematics Onofre Simões 8 Probability and Stochastic Processes Maria de Lourdes Centeno 8 Risk Models João Andrade e Silva 1 st year 2 nd semester 6 Time Series Nuno Sobreira 4 Generalised Linear Models Nicoletta Rosati 4 Loss Reserving Walther Neuhaus 8 Risk Theory Maria de Lourdes Centeno 8 Survival Models and Life Contingences Onofre Simões 2 nd year 1 st semester 6 Actuarial Topics João Bastos 4 Asset-Liability Management Walther Neuhaus 8 Models in Finance João Guerra 4 Pension Funds Fátima Pires de Lima 4 Ratemaking and Experience Rating Alfredo Egídio dos Reis 4 Solvency Models Hugo Borginho 2 nd year 2 nd semester 30 MFW (Dissertation/Internship/Project) - MFW (Master s Final Work)

12 MASTERS IN ECONOMICS ECONOMICS SCIENTIFIC AND PEDAGOGICAL COMMITTEE Jorge Santos (programme director) Miguel St. Aubyn Joana Pais The MSc in Economics is intended to complement and to deepen first-cycle education provided by first cycle degree in Economics. The main objectives are that the students reach advanced knowledge in economic theory and in the methods and empirical techniques useful to analyze economic reality. This MSc prepares the students to pursue their careers as economists, researchers and teachers, high ranking staff in firms, banks, international organizations and public institutions. This MSc aims to provide: advanced knowledge in the field of economic theory; methodologies and techniques needed to the analysis and research in the fields of theoretical and applied economics; adequate instruments to pursuing the study of economics at the PhD level (this MSc gives direct access to the doctoral programme in Economics at ISEG). DETAILS Schedule: All the course units with origin in this MSc are taught after 6 p.m. Starting Date: september, 22 nd 2014 Places Available: 25 Fees: 5000

13 STUDY PROGRAMME 1 st year 1 st semester 6 Econometrics Pierre Hoonhout 6 History of Economic Thought Francisco Louçã 6 Macroeconomics Jorge Santos 6 Mathematical Economics João Lopes Dias 6 Microeconomics Joana Pais 1 st year 2 nd semester 6 Advanced Topics of Microeconomics Joana Pais 6 Economic Growth Paulo Brito 6 Labour Economics Mário Centeno 6 Macroeconomics and Monetary Theory Pedro Leão 6 Free Option 1-2 nd year 1 st semester 6 Free Option 2-6 Free Option 3-6 Free Option 4-12 Dissertation (Seminar) Jorge Santos 2 nd year 2 nd semester 30 Dissertation - Elective options 1-4 Course unit chosen from another master in the Economics field.

14 MASTERS IN FINANCE FINANCE SCIENTIFIC AND PEDAGOGICAL COMMITTEE Clara Raposo (programme director) Raquel Gaspar Teresa Garcia The Lisboa School of Economics and Management has a long tradition and experience in teaching Finance, having graduated many business leaders and well-known political and economic decision-makers. Since 1911, ISEG has accompanied the evolution of markets, the economy, and scientific knowledge in the field of Finance. ISEG is a unique school not only in its breathtaking location and views, but also in the diversity of its faculty, in terms of gender, nationality, and background. In this MSc we put together the professional experience of some of the instructors with the scientific rigor of many others who hold PhDs from prestigious institutions (such as the London Business School, Manchester Business School, Carnegie-Mellon University, London School of Economics, Stockholm School of Economics, or Imperial College). The Masters in Finance at ISEG offers a solid education in the three pillars of the discipline: Corporate Finance, Financial Investments, and Derivatives. Students enrolled in the programme also have the opportunity to choose from a wide list of electives, with genuine variety. The coordinating team closely follows student needs and progress. Keeping pace with the complexities of today s world and the nature of the discipline, the Masters in Finance is offered exclusively in English, for an international audience. We target students who hold an undergraduate degree in management, economics or other subjects with a quantitative background, and who are eager to learn more about finance and become successful professionals in the financial community, either in financial institutions or in the corporate sector, anywhere in the world. Another sign of the times is the field trip to Frankfurt during the 1st year of the course (included in the fees). Students will be exposed to the professional reality of the most influential financial center of Europe, including a visit to the European Central Bank, the Deutsche Borse, and much more We look forward to welcoming you. DETAILS Schedule: Daytime (1 st year), Evening Classes (2 nd year) Starting Date: september, 22 nd 2014 Places Available: 40 Fees: 6000 (4000 in the 1 st year and 2000 in the 2 nd year) Trip to Frankfurt Spring 2015 (flight and accommodation already included in the fees)

STUDY PROGRAMME 15 1 st year 1 st semester 6 Financial Markets and Investments Raquel Gaspar 6 Forwards, Futures and Swaps João Cantiga Esteves 6 Corporate Investment Appraisal Clara Raposo 6 Taxation Joaquim Sarmento 6 Elective Option 1-1 st year 2 nd semester 6 Financial Options João Duque 6 Fixed Income Products and Markets Raquel Gaspar 6 Mergers, Acquisitions and Restructuring João Carvalho das Neves 6 Corporate Financing and Planning Ana Venâncio 6 Elective Option 2-2 nd year 1 st semester 6 Case Studies in Financial Engineering Jorge Barros Luís 6 Data Analysis in Finance Pierre Hoonhout 6 Financial Forecasting Nuno Sobreira 12 MFW (Dissertation/Internship/Project) (Seminar) Teresa Garcia 2 nd year 2 nd semester 30 MFW (Dissertation/Internship/Project) MFW (Master s Final Work) Depends on choice of topic by student Elective Options 1 6 Banking Insurance Maria de Nazaré Barroso 6 Behavioural Finance Margarida Abreu 6 Pension Funds Teresa Garcia 6 Public Finance in the Economic and Monetary Union António Afonso Elective Options 2 6 Corporate Governance Maria João Guedes 6 Institutional Finance Paolo Colla 6 International Financial Markets Paula Albuquerque 6 Monetary and Financial History Rita Martins de Sousa 6 Real Options Dean Paxson

16 MASTERS IN MONETARY AND FINANCIAL ECONOMICS MONETARY AND FINANCIAL ECONOMICS SCIENTIFIC AND PEDAGOGICAL COMMITTEE António Afonso (programme director) Miguel St. Aubyn Maria Rosa Borges SCIENTIFIC ADVISOR Prof. Victor Constâncio (programme director from 1992 to 2010) The MSc in Monetary and Financial Economics (MEMF) is intended to complement and to deepen first cycle education provided by a degree in Economics, Finance, Quantitative Methods, or Management. The MEMF is an international-level programme that follows the best European practices in the area. As such, the selection criteria of applicants are demanding and this exigency level is kept along the course. Thus, the MEMF is not compatible with a weak background and with a low-effort profile, as we expect students to be prepared to spend a minimum of 3200 effort hours in 2 years. The effort required from MEMF students is strongly valued in the labour market. The aims of the MSc are: (i) providing advanced knowledge in the monetary and financial fields, based upon the most relevant results achieved by the scientific community; (ii) initiating its students in scientific research, by practicing the appropriate techniques and methodologies; and (iii) preparing the senior staff in monetary and financial institutions linked to financing the economy and the monetary policy issues. This MSc gives direct access to the doctoral programme in Economics at ISEG. Employers especially recognize to MEMF graduates a strong background in econometrics and quantitative methods, competence in macroeconomics and monetary economics, and a large capacity to face new challenges. All the compulsory and elective option course units with origin in this MSc use English as their work language. Course units originated in other MSc will use the work language chosen for that particular programme. The Training Positions MEMF Bank of Portugal programme provides the opportunity to work as a trainee in the Economic Research Bank of Portugal to the best students in the MSc. Its main goal is to produce a dissertation supervised by a doctor in the department. DETAILS Schedule: All the course units with origin in this MSc are taught after 6 p.m. Starting Date: september, 22 nd 2014 Places Available: 25 Fees: 5000

STUDY PROGRAMME 17 1 st year 1 st semester 6 Econometrics Pierre Hoonhout 6 History of Economic Thought Francisco Louçã 6 Macroeconomics Jorge Santos 6 Mathematical Economics João Lopes Dias 6 Microeconomics Joana Pais 1 st year 2 nd semester 6 Foundations of Financial Economics Paulo Brito 6 Monetary Policy To be announced 6 Elective Option 1-6 Elective Option 2-6 Free Option 1* - 2 nd year 1 st semester 6 Elective Option 3-6 Elective Option 4-6 Free Option 2* - 12 Dissertation (Seminar) António Afonso 2 nd year 2 nd semester 30 Dissertation - Elective Options 1 and 2 6 Corporate Finance* Paulo Morais Francisco 6 Financial Econometrics* Jorge Caiado 6 Financial Options João Duque 6 International Financial Markets Paula Albuquerque 6 Macroeconomics and Monetary Theory Pedro Leão 6 Monetary and Financial History Rita Sousa 9 Numerical Methods in Finance* Fernando Gonçalves *Course unit originated in other MSc that may not be available in English. Elective Options 3 and 4 6 Banking and Insurance Maria de Nazaré Barroso 6 Behavioural Finance Margarida Abreu 6 Financial Mathematics Onofre Simões 6 Forwards, Futures and Swaps João Cantiga Esteves 6 Public Finance in the Economic and Monetary Union António Afonso Free options 1 and 2 Course unit chosen from any MSc in ISEG as long as the number of common topics in the syllabi with other course units in MEMF or in current compulsory undergraduate course units in Economics at ISEG is not significant.

18 LIVING AT ISEG STUDENT ASSOCIATION AEISEG is the organisation that represents students. Its purpose is to assist students throughout the course of their studies. The AE organises the following activities: Welcome of New Students Workshops on specific topics Coordination of student sports events with other universities from all over the country Organisation of the Gala event at ISEG Co-organisation of the Career Forum Co-organisation of the ISEGUÍADAS The Student Association is also the body that is responsible for managing the photocopy centre and the school s bookshop. If you decide to join the AE, you ll benefit from discounts at the bookshop, the photocopy centre and even for the products and services of a vast number of partners.

LIVING AT ISEG 19 ALUMNI Alumni Económicas is the Association of ex-students from ISEG, and is the largest network of ex- students of all the Economics and Management schools in Portugal. Alumni Económicas currently has more than 1,000 associate members and organises the following activities during the year: The annual award for the most distinguished ex-student Conferences and seminars solely for ex-students Alumni Day Anniversary reunions for degrees Alumni Económicas is more than just body that organises events for ex-students, it is also an organisation that is deeply concerned about, and dedicated to, the present ISEG student population. For this reason it launched the following two programmes over the last couple of years: In the Mentoring programme of Alumni Económicas final year students are given continual support by a mentor - an ex-student with at least 5 years of professional experience during their process of entering the job market, in order that they can prepare themselves better for their future and widen their learning process, whilst acquiring and perfecting skills. This programme aims to support students enrolled in the 1st Cycle of studies with proven financial difficulties, through grants for paying fees, food and transport. Started in January of 2012, the ALUMNI ECONÓMICAS SOLIDÁRIO PROGRAMME has enabled grant support for 24 students, 6 of whom have already completed their undergraduate degree. The programme thus tries to guarantee that everyone has the right to an opportunity to learn and strives to ensure that no talent at ISEG is lost!

20 LIVING AT ISEG ACADEMIC STAFF Our academic staff has the highest percentage of PhD doctors in the country, most of whom earned their PhD at prestigious internationally acclaimed universities. They also share the spirit and identity of ISEG. TUNA ECONÓMICAS If you love music and have time to sing and play an instrument, then join the Tuna Económicas. The Tuna was founded in 1992 and since then has participated in dozens of appearances per year, contributing to the animation, spirit and academic tradition of ISEG and wins awards at all the festivals that it participates in. CULTURE Culture also plays an important part in the day-to-day life of ISEG: ranging from classical and jazz concerts to art exhibitions and theatre, all of which are part of the university s life. Painting and Oriental Language workshops are a frequent occurrence, as are concerts played by Antena 2 and the Hot Clube de Portugal, as well as recording for well-known groups such as the Músicos do Tejo. Since its inception, we have hosted Talk Fest, a conference about music festivals, where various awards can be won and live shows can be seen. SUPPORT SERVICES Francisco Pereira de Moura Library The Administrative Office Bar & Canteen Study Rooms

CAREERS 21 MENTORING In the Mentoring programme of Alumni Económicas, final year students are given continual support by a mentor - an ex-student with at least 5 years of professional experience during their process of entering the job market, in order that they can prepare themselves better for their future and widen their learning process, whilst acquiring and perfecting skills. MENTOR For me, as a professional, it is important to get to know the expectations and ideas of these young people, as they are the future professionals/leaders of our companies/organisations. The Mentoring programme is a means of maintaining contact with younger generations. The contribution that I tried to give to the Mentees was sharing my professional experiences, including not only the successful ones, but also the errors that affect those who take actions and make decisions. I tried to transmit what happens in the real world of business and within professional relationships, as a way of helping the Mentee opt for the best decisions during their professional career. ELISABETE ALVES PIRES Associate Partner Function Risk Leader, Deloitte MENTEE Looking back, over these last two years of Mentoring, I ve become a more balanced professional, better prepared to make decisions and to face problems, and, principally, with the security that I always have a friendly hand to whom I can fall back on in time of need. An experienced voice guides me. My two mentors from the previous years are now two good friends, whom I know I can always rely on. Mentoring isn t a stationary process, not having a mentor at the end of the year doesn t mean that it ceases to exist. The human bonds remain. Friendship remains after Mentoring and also a strong feeling of loyalty and mutual help between both the mentor and the mentee. CÉLIA SARAIVA Graduate in Management

22 CAREER MANAGEMENT CAREER FORUM CAREER DEVELOPMENT PROGRAMME This 16 hour course is designed to develop career management skills and to prepare you for job seeking, helping you to enter the job market as quickly as possible and, at the same time, making you more employable in the eyes of potential employers. JOB POOL ISEG benefits from a job pool which enables students and ex-students alike to apply to more than 700 job offers every year. This pool is part of an International network of job platforms and receives job offers from all over the world, as well as those offers that specifically have ISEG students in mind. CAREER MANAGEMENT ISEG is one of a small group of schools which guarantees an employment rate of over 90%. In 2013 alone, more than 700 job opportunities were presented to ISEG by companies that were seeking the best qualified candidates. At ISEG you can also count on the support of the Career Management team, which provides the service of Career Counselling and is always available to help you write your CV and to find an internship. It is this team that offers you the Career Forum, once a year, in association with the Students Association. This event is held over three days and provides dozens of activities that put you in close contact as possible with the business world.

GET TO KNOW WHICH COMPANIES HAVE RECRUITED FROM ISEG IN RECENT YEARS: Allianz Portugal American Nike S.A. ANA - Aeroportos de Portugal AXA Portugal Banco BEST BPI S.A. Banco de Portugal Banco Espírito Santo Banco Popular Banco Santander Totta Barclays BBVA Bial BNP Paribas CA Seguros Caixa Geral de Depósitos Capgemini Calzedonia Charon Coca-Cola Portugal Danone Deloitte Deutsche Bank DFK Everis EY Football Dream Factory Gallo Worldwide GlaxoSmithKline Hertz HPP Saúde INE - Instituto Nacional de Estatística Indra Instituto Seguros de Portugal Interbrand KPMG L OREAL Lena Engenharia e Construções, SA LIDL LIberty Seguros Maksen Management Solutions Mazars Mercer Nestlé Novabase OSTC Philip Morris International PT PwC Randstad REN ROFF RTP SAS Siemens Sonae Sport Lisboa e Benfica Sumol+Compal Teleperformance TIMWE Towers Watson Tranquilidade Unilever - Jerónimo Martins VASP VICTORIA Seguros Visteon Vodafone Volkswagen Autoeuropa Zurich JOB OFFERS/INTERNSHIPS VS GRADUATES 742 491 387 388 415 418 455 364 385 387 183 188 2009 / 2010 2010 / 2011 2011 / 2012 2012 / 2013 Undergraduates Masters Job Offers / Internships

24 WHAT COMPANIES HAVE TO SAY ABOUT OUR STUDENTS ISEG has introduced us to students who have had a good attitude in general during all the selection processes carried out by Nestlé Portugal, resulting in recruitment. SUSANA ANDRÉ Recruitment Specialist Nestlé Portugal ISEG students show an enormous capacity for achieving objectives set them, bringing together technical skills with research ability and a practical sense, especially in the area of Economic Studies. LUÍS BARROS Timberlake Consultores ISEG students prove to have very good technical skills, which enable them to rapidly integrate into the various teams at Deloitte. In general they are people with a strong practical sense and are objective, which we greatly value. MANUEL GONÇALVES Diretor de Recursos Humanos Deloitte

AWARDS 25 At ISEG, those who deserve it, receive rightful recognition... CAIXA GERAL DE DEPÓSITOS AWARD For the best student from the Course unit in Policy of Science and Technology from the Masters in Economics and Management of Science, Technology and Innovation DECO AWARD For the best student for the lecture-based part of the Masters in Economics and Public Policy in the area of Political Sciences and the Third Sector FINANTIA AWARD For the best student from the Masters in International Economics and European Studies M. J. LUCAS DE SOUSA AWARD For the best student from the Masters in Accounting, Taxation and Corporate Finance MONTEPIO GERAL AWARD For the best student from the Masters in Finance IAPMEI AWARD For the best student from the Masters in Management and Industrial Strategy SUMOL COMPAL AWARD For the best student from the course unit in African Economy from the Masters in Development and International Cooperation This information is subject to alterations that may occur during the academic year, resulting in awards being subject to confirmation by the sponsor, should the case be applicable.

26 HOW TO FIND US Largo do Rato Cemitério Inglês Jardim da Estrela Av. Infante Santo Lapa Rua Lapa Calçada da Estrela ISEG Assembleia da República Jardim de S. Bento Rua Poiais de S. Bento Rua de S. Bento Av. Dom Carlos I Santoso-velho Public Transportation Numbers / Lines Stop BUS 706-727 Exit on Av. D. Carlos I 713-773 Exit on Rua Borges Carneiro 60-794 Exit on Rua Conde Barão TRAM 28-25 Exit on Calçada da Estrela 15-18 Exit on Av. 24 de Julho FERRY Connecting to Bus, Tram or Walking Exit on Terreiro do Paço Connecting to Bus, Tram or Walking Exit on Cais do Sodré METROPOLITAN Girassol Line (Yellow) Exit at Rato Station Caravela Line (Green) Exit at Cais do Sodré Station TRAIN Cascais Line Exit at Santos Station

27 APPLY Applications for Masters degrees in 2014 are submitted online on ISEG s site (iseg.ulisboa.pt > Masters > applications), using either the form in Portuguese or English. DEADLINES FOR APPLICATIONS: By the 9 th of May, 2014 Applications may be accepted after the stipulated deadlines, as long as they are properly justified, being subject to the availability of places. CONTACTS Postgraduation Office spg@iseg.ulisboa.pt Tel.: +351 213 922 723 +351 213 925 855/6 Opening hours: Monday to Friday, from 10 am to 7.30 pm www.iseg.ulisboa.pt

THINKING IS A FACULTY Portuguese Agency for Assessment and Accreditation of Higher Education