| 1 | Banking, Insurance and Risk Management | EBM067A05 |
| Financial institutions such as banks play a key role in the current economic system. Due to this role, they are regulated and supervised to ensure that financial crises (like the 2007 subprime crisis) should not occur. This course concentrates on different risks that financial institutions take, how these risks can be managed, and how the current regulation, especially Basel III, is devised. In particular, we analyze interest rate risk, market risk, credit risk, liquidity risk and operational risk of financial intermediaries. There is also an additional focus on Climate Risk. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | A. Rauf, PhD. MSc. | | Docent(en) | prof. dr. L.H. Hoogduin A. Rauf, PhD. MSc.prof. dr. L.J.R. Scholtens | | Onderwijsvorm | -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | Only for MSc Finance students and for students from the MSc EORAS. Students are expected to have prior knowledge about asset pricing and derivative instruments. It is highly advised to have completed the course Derivate Instruments. | | Opmerkingen | Secretary: G. Pol, phone +31(0)50 363 3685, e-mail g.pol@rug.nl, room 5411.0836 |
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| 2 | Corporate Finance for MSc Finance | EBM008B05 |
| The course deals with state-of-the art theory about Corporate Finance. The focus is from a micro-economic perspective, i.e. principal-agent theory. Game theoretic (mathematical) models will be discussed and analyzed and students are required to both master the derivations in these models and develop intuition for the various results. Topics that are dealt with are: separation of management and ownership, moral hazard and adverse selection in financing decisions, credit rationing, effects of diversification on financing constraints, active and passive monitoring, collateral, optimal contract design, and CEO remuneration. The course consists of a number of lectures and tutorials. During the tutorials homework assignments will be discussed. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. G.T.J. Zwart | | Docent(en) | dr. G.T.J. Zwart | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | accessible for MSc Finance students only | | Opmerkingen | Secretary: Ellie Jelsema; e-mail e.t.jelsema@rug.nl, phone +31 (0)50 363 3685, room 5411.0836. |
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| 3 | Corporate Governance for MSc Finance | EBM811C05 |
This course will provide students with an overview of the theoretical and empirical literature on the main themes in corporate governance. The aim is to provide students with in-depth knowledge of how determinants and outcomes of corporate governance arrangements have been measured and studied, using examples from the academic literature. As the literature on corporate governance is extensive, we have chosen a number of topics that are hotly debated in academic as well as policymaking circles. These topics will be related to company performance, linking corporate governance and strategy to corporate finance.
The first part of the course consists of a number of general lectures, in which an overview of the theoretical literature on corporate governance is provided. The lectures are based on a set of academic articles. In the second part of the course, student teams are going to apply this knowledge, first by writing a critical report about a published academic journal article on corporate governance, then by gathering their own data on some aspects of corporate governance and finally by writing a paper about the relationship between corporate governance and firm performance and/or strategy. The course will end with a written exam. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. C.L.M. Hermes | | Docent(en) | drs. M.E. Helmantelprof. dr. C.L.M. Hermes | | Onderwijsvorm | -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -individuele opdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Only for MSc Finance students and students from the MSc Business Administration-MAC. | | Opmerkingen | Secretary: Ellie Jelsema, phone: +31 (0)50 3633685, e-mail: e.t.jelsema@rug.nl, room: 5411.0836. |
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| 4 | Corporate Valuation for MSc Finance | EBM007C05 |
| After passing the course Corporate Valuation, students are able to value a company using the best practices from the corporate finance practice, and to evaluate these practices from an academic and a professional perspective. The course prepares students for a job as a company analyst, financial analyst, portfolio manager, or an investment banker. Two key players from the Dutch corporate finance practice present a business case for the course Corporate Valuation. Both cases are centered on a transaction of a company. At what price can the company be acquired or sold? Teams of students perform a thorough financial analysis as well as a strategic analysis of the business. Each team develops its own valuation and buyout model in Excel. Negotiations conclude each business case. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. ing. N. Brunia | | Docent(en) | dr. ing. N. Brunia | | Onderwijsvorm | -computer practicum, -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Only for MSc Finance students. | | Opmerkingen | Secretary: Grietje Pol, phone +31(0)50 3633685, e-mail g.pol@rug.nl, room 5411.0836 |
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| 5 | Derivative Instruments | EBM068A05 |
The course focuses on the characterization and valuation of financial derivative instruments, such as options, forwards, futures, and swaps. In addition, attention will be devoted to the use of these instruments in portfolio and corporate risk management. The course material also focuses on institutional aspects, the practical and theoretical way in which market prices are established, and the relation with arbitrage and hedging strategies.
The course material will be discussed during weekly lectures, and students work - and get feedback - on assigned problems during weekly tutorials. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. L. Dam | | Docent(en) | drs. M.E. Helmantel | | Onderwijsvorm | -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Only for MSc Finance students | | Opmerkingen | Secretary: Grietje Pol, e-mail g.pol@rug.nl, phone +31 (0)50 3633685, room 5411.0836
Resit semester IIa. |
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| 6 | Institutional Investment Management | EBM822A05 |
| This course aims to further develop the student's understanding of portfolio management and investment. More specifically, the course aims to develop an understanding of the methods and techniques used in the field of institutional investment management. The course has two main points of focus. Firstly, in order to be able to do conduct empirical research and understand the practical applications, the theoretical aspects of institutional investment management are examined. Secondly, the practical application of these theories in e.g., banking, insurance companies, pension funds and institutional investment houses are explored. The lectures (including a field trip to Amsterdam) provide a comprehensive insight in the theoretical and practical issues concerning the institutional investment management process. Students become familiar with up-to-date methods and techniques implemented in investment management via case studies and by means of a serious investment game. Active student participation is required. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. R.M. Salomons | | Docent(en) | J.J. Bosma, PhD.prof. dr. R.M. Salomons | | Onderwijsvorm | -gastcollege , -hoorcollege , -interactief hoorcollege , -practicum, -werkcollege | | Toetsvorm | -groepsopdracht, -individuele opdracht, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | Only for MSc Finance students. Finish the course 'Portfolio Theory' before entering this course. | | Opmerkingen | Secretary: E.T. Jelsema, phone +31 (0)50 363 3685, e-mail e.t.jelsema@rug.nl, room 5411.836.
'Institutional Investment Management' together with 'Portfolio Theory' provide a good basis for the CFA/VBA postgraduate courses for investment analysts. |
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| 7 | Master's Thesis Finance | EBM866B20 |
| The Master's Thesis is the conclusion of the MSc Finance. It is a test of the student's ability to conduct independent academic research resulting in a thesis. The research project has to be in the field of Finance, with a preference for an empirical thesis. We follow a structured approach as documented in the Guidelines for Writing a Thesis in Finance. You need to submit your thesis proposal according to the standards specified in the Guidelines for Writing a Thesis in Finance. This proposal should be uploaded on the Nestor site of the course or be submitted to Grietje Pol (g.pol@rug.nl). The exact deadlines will be available on the Nestor website of the Msc Finance Organization. Based on your proposal, you will be assigned a supervisor. Supervisors may organize meetings jointly with other students. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. A. Plantinga | | Docent(en) | dr. A. Plantinga | | Onderwijsvorm | -individuele begeleiding | | Toetsvorm | -individuele opdracht, -individuele presentatie | | ECTS | 20 | | Entreevoorwaarden | Students have passed at least 20 EC in terms of courses of the MSc Finance, and also have passed the mandatory CITI modules. Students also need to have an approved program for the MSc Finance. | | Opmerkingen | This course is offered in both semester I and semester II.
Secretary: Ms. G. Pol, phone: +31 (0)50 363 3685, e-mail: g.pol@rug.nl. Room 5411.0836
It is necessary that you read the “Thesis Manual MSc Finance", a document that can be downloaded from the Nestor page of the MSc Finance Organization. Please notice that there are specific deadlines for handing in a thesis proposal and the final thesis. In order to have access to this Nestor web site you need to be registered as a student of the Msc Finance and you need to enroll for the Msc Finance Thesis. Starting from the second semester of 2016-2017, we do no longer accept thesis proposals that are going to be used for different program except for students from the MSc Economics. |
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| 8 | Portfolio Theory | EBM015B05 |
| Portfolio theory addresses the question of how to construct portfolios of individual stocks and bonds that satisfy the objectives of an investor. We study the theory of portfolio management and asset allocation In addition, we study asset pricing models (CAPM, APT) and how asset pricing models can be tested empirically. Students learn also how to use Excel in building models for constructing and evaluating portfolios. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. A. Plantinga | | Docent(en) | F. Febbrarodr. A. Plantinga | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -groepspresentatie, -schriftelijk tentamen (meerkeuze vragen), -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Only for MSc Finance and MSc EORAS students. | | Opmerkingen | Secretary: Grietje Pol, tel: +31 (0)50 3633685, e-mail: g.pol@rug.nl, room: 5411.0836.
During several classes, we invite students to bring their laptop to class for hands-on instruction and application of the theories discussed during class. |
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| 9 | Research Methods in Finance | EBM070A05 |
| The course provides students with an introduction to econometric tools that are frequently used in finance research. The techniques will be taught during lectures and applied in computer tutorials. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. S.S.H. Eriksen | | Docent(en) | Dr. S.S.H. Eriksen | | Onderwijsvorm | -computer practicum, -hoorcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | Only for MSc Finance students. Solid grasp on statistical foundations such as probability, probability distributions, hypothesis testing. Working knowledge on OLS. | | Opmerkingen | This course is offered in both semester Ia and semester IIa.
Secretary: Grietje Pol, phone: +31 (0)50 3633685, e-mail: g.pol@rug.nl@rug.nl, room: 5411-0836 |
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| 10 | Responsible Finance and Investing | EBM071A05 |
| This course focuses on the role of non-financial attributes in production. In particular, we study the interaction between financial performance and social & environmental performance of firms, in particular financial institutions, and the impact of this interaction on finance and investment decisions. This regards both the firms as such as well as investment portfolios. As to financing, it especially is pricing and risk that will be discussed; as to investing, we investigate the impact of screening on performance. We highlight the costs and benefits of managing non-financial attributes and go into their pricing and into the consequences of inappropriate pricing. Furthermore, the role of risk from addressing or ignoring social and environmental performance is studied. Students will be required to work on projects in which they try to come to grips with responsibility in financing and investing. They will experience how to make trade-offs between financial and non-financial performance. Students will analyze and argue about how financial and non-financial performance interact and they will learn how to model this using Matlab. For Finance students, these skills are highly important and sought after. Realize that for us learning is about building the capacity to take effective action. We want our students to understand, to get motivated and to arrive at own ideas and hope regarding sustainable finance. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. L.J.R. Scholtens | | Docent(en) | Dr. A. Dalòprof. dr. L.J.R. Scholtens | | Onderwijsvorm | -werkcollege, -computer practicum, -gastcollege , -hoorcollege | | Toetsvorm | -computer test/wekelijkse quiz, -groepsopdracht, -individuele opdracht | | ECTS | 5 | | Entreevoorwaarden | Students will have a BSc degree in Economics and/or Business, a decent background in Finance & Investing and a keen interest in both Environmental and Social issues and in Banking, Finance and Investing. They are open to learning new skills and an interest in quantitative analysis. | | Opmerkingen | Secretary: Ellie Jelsema, email e.t.jelsema@rug.nl, phone: +31 (0)50 3633685, room 5411.0836 |
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