| 1 | Behavioural Finance & Personal Investing | EBM806B05 |
| Behavioral Finance (BF) is a new development in the field of finance, which has been going on for more than two decades now. This development has not only affected academic finance, but has also gained profound interest from practitioners, in particular in the field of investments. In BF, empirical phenomena are being analyzed in terms of behavioral characteristics. In doing so, it explicitly deviates from the rational decision-making approach of financial economics. In this course we will focus mainly on individual investor psychology and behavior and contrast it with the neo-classical approach. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. M.M. Kramer | | Docent(en) | dr. M.M. Kramer | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -individuele opdracht, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | Students have a bachelor in Economics or Business, or related. | | Opmerkingen | Secretary: Grietje Pol, phone: +31 (0)50 363 3685, e-mail: g.pol@rug.nl, room: 5411.0836.
The course literature mentioned in the above is only indicative. The final reading list of the course will be published in due time. |
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| 2 | Business Research and Consulting | EBM151A05 |
| Mixed teams of maximum four students (both from bachelor and master programmes in Economics and Business or Industrial Engineering & Management) will examine a real managerial issue. They translate the issue into a problem statement that can be addressed within the time frame of this course. Inherent parts of this course are that mixed teams of students 1) visit the company, 2) carry out desk research and literature search, 3) develop a research design (qualitative and/or quantitative), 4) analyze the results 5) draw conclusions and 6) propose a feasible solution including implementation steps to address the problem of a company. Master students have to reflect on the research process from methodological and theoretical perspectives and their role as master-level consultant and researcher. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. J. Riezebos | | Docent(en) | drs. ing. B.S. Baalmansdrs. G.F. HaanstraDr. L. Marusterdr. B.J.W. Penninkdr. G.C. Ruëldrs. D.P. Tavenier | | Onderwijsvorm | -groepsbegeleiding , -practicum, -werkcollege | | Toetsvorm | -groepsopdracht | | ECTS | 5 | | Entreevoorwaarden | 1. You cannot enroll to this course in Progress, but have to fill out the webform on www.rug.nl/feb/brc no later then two weeks before the enrolment period ends. If more students apply than the available capacity in a block, we do a selection based on the submitted forms. 2. You will hear from us whether you are admitted to the course in time for you to enroll for another elective if needed.
3. You cannot register for this course in Progress: we will take care of that for you. | | Opmerkingen | Enrolment is not through Progress, but through a webform available at www.rug.nl/feb/brc As we cannot guarantee there will be enough positions for all applying students, we will close the enrollment period for this course two weeks earlier than the normal period. You will be informed in time if you are not admitted, which will enable you to register for another elective in Progress. The companies that participate in this course will be arranged by FEB Career Services. This course will be given in English, but in some cases communication (e.g. with companies) might be in Dutch. BR&C will run in every half-semester. Upon completion of the course, master students will receive 5 credits. In some master programmes, the course might not be listed as a recognized elective, in which case you have to contact your programme director in order to find out whether you may list it as an elective course within or on top of your programme. Please do so before you apply through the webform in order to avoid disappointments. |
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| 3 | Comparative Corporate Governance | EBM083A05 |
| The world of the corporate upper echelons has changed rapidly and significantly in the last two decades. Ongoing corporate scandals and the global financial crisis of 2008 have generated important questions about the concentration of power at the top of large corporations. Who runs these large corporations? How are these executives monitored and on behalf of whom? What is the basis of such corporate governance systems, and how do these systems change over time? What determines differences and similarities between corporate governance systems between countries? What does the increasing concentration of capital in the hands of large institutional investors and the super-rich imply for this system? And very recently, how does the system survive a huge economic shock stemming from global pandemics like the spread of corona virus? Do present day corporations have the right purpose and still serve the needs of society? This course introduces students to the recent debates in this field to help them develop a better understanding of the inner circles of corporate power and its consequences. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. K. van Veen | | Docent(en) | Dr. E. Mendirattadr. K. van Veen | | Onderwijsvorm | -hoorcollege , gecombineerde hoor-/werkcolleges | | Toetsvorm | -groepsopdracht, -groepspresentatie, -individuele opdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Opmerkingen | Secretariat GEM: e-mail gem.feb@rug.nl, phone +31(0)50 363 3458, room 5411.0538
Coordinator: e-mail k.van.veen@rug.nl |
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| 4 | Country Studies | EBM093A05 |
| What are the opportunities and bottlenecks for economic development in a country? What are the lessons for government policies? In this hands-on course, you will analyze the causes and consequences of economic development in a specific country. As part of a small team, you will focus on one particular theme such as the education system, trade, the business environment or the financial sector. Your analysis will be based on academic literature and on statistical data sources. The literature on your theme will be introduced in thematic groups with members from other country teams. The analysis of your theme forms one chapter of the final country report. The insights from the different analyses by the group members are synthesized into a summary chapter to provide useful information for policy makers about the prospects for economic growth in your country. Together with your team, you will analyze growth patterns and discuss the findings and policy recommendations from your report with the lecturers and other course participants. Your final course grade is based on an individual grade for the chapter you contribute to the country report; a grade for the quality of the feedback you provide to fellow students; a group grade for the summary chapter that synthesizes the other chapters; and a group grade for a development accounting exercise. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | K.M. Wacker, PhD. | | Docent(en) | Dr. A. MinasyanDr. A.C. Steiner K.M. Wacker, PhD.Dr. R.H.T. Wiese | | Onderwijsvorm | -groepsbegeleiding , -individuele begeleiding, -hoorcollege , -practicum | | Toetsvorm | -groepsopdracht, -individuele opdracht | | ECTS | 5 | | Entreevoorwaarden | Bachelor's degree in Economics and Business Economics or comparable qualification. Builds on knowledge of macroeconomics and economic growth. | | Opmerkingen | Secretary GEM: gem.feb@rug.nl, +31(0)50 363 3458, 5411.0538
Coordinator: k.m.wacker@rug.nl |
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| 5 | Dependence & Extremes in Risk Management | EBM113A05 |
| The normal distribution is the one most used in theoretical and practical work, because of its tractability. However, it imposes strong restrictions on extremes, and dependence (in the context of multivariate random variables). In this course, we explore alternatives to the distribution, and argue that modern risk management should be focusing on tail behaviour. Also, we treat an alternative way to model dependence between random variables: by specifying the marginal distributions and the dependence structure separately, using copula's. Even though models in risk management provide the leading examples, the methods are widely applicable. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. R.H. Koning | | Docent(en) | prof. dr. R.H. Koning | | Onderwijsvorm | -computer practicum, -hoorcollege , gecombineerde hoor-/werkcolleges | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | The course assumes active knowledge of multivariate statistics, and the computer assignments are done in R. | | Opmerkingen | Info: Prof. Ruud Koning, phone +31(0)50 36 37192, e-mail r.h.koning@rug.nl
Secretary: Martine Geerlings-Koolman, phone +31(0)50 36 37018, e-mail m.a.koolman@rug.nl |
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| 6 | Economic Development | EBM095B05 |
| Why are some countries poor and some countries rich? This course explores the measurement and analysis of growth and development in today's world. Global economic growth has been rapid since the 1950s but uneven across countries, and major challenges to growth have appeared in the last decade. What were successful growth strategies in the past, and what are the implications of recent changes to trade and technology? What are the implications for inequality and the sustainability of living standards around the world? We discuss new global trends that provide both opportunities and challenges for growth and development. This will be done by in-depth study and discussion of major articles in this field. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. G.J. de Vries | | Docent(en) | dr. G.J. de Vriesprof. dr. R.C. Inklaar | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -computer test/wekelijkse quiz, -individuele opdracht, schriftelijk tentamen met open vragen | | ECTS | 5 | | Entreevoorwaarden | Intermediate-level of knowledge on theory and empirics of Economic Growth or Development Economics is strongly recommended. | | Opmerkingen | Secretariat GEM: gem.feb@rug.nl, +31(0)50 363 3458, 5411.0538
Coordinator: g.j.de.vries@rug.nl |
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| 7 | Economic Geography | EBM094A05 |
| The geo-economic map of the world changes constantly. Globalization has led to a rapid increase of these changes in the location decisions of firms. This course aims to provide students with a better understanding of the resulting changes in the geo-economic patterns of the uneven distribution of economic activity over space and the underlying strategic decision of firms to re-locate in (or offshore to) knowledge intensive clusters of economic activity. We discuss key theories and empirical evidence to understand these changes and, subsequently, discuss the firm level drivers of these changes. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. S. Brakman | | Docent(en) | prof. dr. S. Brakmanprof. dr. J.H. Garretsen Guest Lecturer(s) | | Onderwijsvorm | -computer practicum, -hoorcollege , -werkcollege | | Toetsvorm | -individuele opdracht, schriftelijk tentamen met open vragen | | ECTS | 5 | | Entreevoorwaarden | Basic knowledge of International Trade Theory and Micro-Economics | | Opmerkingen | Secretariat GEM: gem.feb@rug.nl, +31(0)50 363 3458, 5411.0538 |
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| 8 | Empirical Methods for MSc IFM | EBM199A05 |
| The course provides MSc IFM students with an introduction to econometric tools that are frequently used in empirical research. The techniques will be taught during lectures and applied in computer tutorials. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. S. Homroy | | Docent(en) | Dr. S. Homroydr. J.V. Tinang Nzesseu | | Onderwijsvorm | -computer practicum, -hoorcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | Accessible for MSc IFM students only. | | Opmerkingen | Secretary: Grietje Pol, phone: +31(0)50 363 3685, e-mail: g.pol@rug.nl. Room 5411.0836 |
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| 9 | Energy & Finance | EBM166A05 |
This is a course in the MSc Finance which focuses on risk analysis and valuation in the energy sector, with an emphasis on mathematical modelling of these risks. Almost all methods that are developed and used in financial market analysis can be used in energy markets as well. However, we concentrate on two general aspects in particular and aim to deepen their understanding. These are real option analysis and energy markets and derivatives. First, real option analysis uses the mathematical methods of derivatives pricing to analyze the value of various types of flexibilities in (real) investment projects. Real option analysis so far has only remotely been touched upon in the finance curriculum and is perfectly suitable to apply in the valuation of energy projects. Secondly, we delve into energy risk management as, in energy markets, many risks are related to underlying cost structures and the characteristics of volatility of prices. Power prices for instance are related to the price of fuels and to carbon prices.
In the course Energy & Finance, we investigate how to assess the exposure of firms to a variety of energy risks regarding both their costs and revenues, and study related risk management and investment strategies. This course is part of the focus area 'Energy'. When you focus your MSc on energy subjects you will be awarded an official acknowledgement on your diploma, improving and broadening your career opportunities in the energy sector. Prerequisites are mentioned in the Teaching and Examination Regulations: 'Focus areas in the master programmes'. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. G.T.J. Zwart | | Docent(en) | prof. dr. M. Mulderprof. dr. L.J.R. Scholtensdr. G.T.J. Zwart | | Onderwijsvorm | -hoorcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | The course is mathematical in nature. Students are strongly recommended to have mathematical skills and background in finance comparable to those acquired in a minor in Finance or equivalent program. | | Opmerkingen | Secretary: Ellie Jelsema; email e.t.jelsema@rug.nl, room 5411.0836, phone: +31(0)50 3633685 |
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| 10 | Energy Transition & Innovation | EBM167A05 |
| The energy industry has changed, is changing, and must continue to change, in order to become more sustainable. The transition, however, presents faces a number of challenges, such as: (1) social challenges, for example, in terms of social resistance to the change; (2) business challenges, for example, as both emergent green technologies and polluter incumbents look for ways in which to become financially sustainable in the new environment; (3) policy challenges, for example, as governments look for ways in which to incentivise the transition; and (4) marketing challenges, for example, as once niche ideas about sustainability and environmental protection, are mainstreamed. In this course we will explore each of these challenges, we will reflect upon the business opportunities that each creates, and will consider the supporting role of competition and markets. In the process, students will gain knowledge about the challenges and opportunities presented by the transition. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. K.J. McCarthy | | Docent(en) | Dr. S. Asad G.H.J. Berends, MSc.Dr. K.J. McCarthyProf. Dr. F. Noseleit | | Onderwijsvorm | -werkcollege, -gastcollege , -hoorcollege | | Toetsvorm | -groepsopdracht, -groepspresentatie, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | General requirements for admittance to the MSc | | Opmerkingen | Secretary: room 5411 0434, tel. +31 (0)50 363 4111, e-mail i.b.a.neef@rug.nl |
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| 11 | Financial Management for Multinationals | EBM200A05 |
| The course deals with financial management of firms operating in international environments. Multinational firms face a variety of risks that arise in international financial markets and but they also have a wide variety of financial instruments available to manage them. Understanding how to manage risks and seize opportunities allows financial managers to take investment decisions that enhance the firm's value. The objectives of the course are to: 1. Recognize risk exposures of multinational firms; 2. Evaluate needs and ways to manage different exposures, and 3. Evaluate international investment opportunities. The course consists of lectures and tutorials, during which the students learn from solving, presenting and discussing exercises and case studies. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. K. Czura | | Docent(en) | Dr. K. Czura | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -groepspresentatie, -verplichte aanwezigheid, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | Basic knowledge of business, corporate finance and calculus is required. | | Opmerkingen | Secretary: Ellie Jelsema; e-mail e.t.jelsema@rug.nl, phone +31 (0)50 363 3685, room 5411.0836. |
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| 12 | Financial Reporting and Risk Management | EBM168A05 |
| Every organisation faces a variety of risks. Unexpected events in its external or internal environment may affect the probability of achievement of the organisation's goals. Some of the risks are related to compliance with laws and regulation, and more specifically to reliable financial reporting. To assess the financial reporting risks, the adequacy of how an organization has applied the accounting principles and valuation methods should be determined. The first step in understanding financial reporting issues is a thorough understanding of journal entries. The second step is the evaluation of choices and risks that a manager faces when financial statements are compiled. In addition to financial reporting risks, organizations are also exposed to risks related to their core activities. For instance, changes in market circumstances may threaten the organisation's ability to achieve its strategic objectives, or some of the organisation's assets may disappear due to fraud by employees. Ignoring risks can endanger the organisation's survival. Therefore, organisations often rely on systems which enable them to identify and assess risks, and to develop and monitor control activities. However, using such systems also has its drawbacks. In this course, a textbook will be used to refresh students' understanding of business transactions, valuation and accounting principles. Cases and academic papers will provide the basis for a critical thinking regarding risk management issues including an organisation's risk culture and ethical considerations. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. N. Hussain | | Docent(en) | Dr. N. Hussaindr. K. Linke | | Onderwijsvorm | -werkcollege, -hoorcollege | | Toetsvorm | -groepsopdracht, -groepspresentatie, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Students are expected to have passed at least an introductory course in Financial Accounting. | | Opmerkingen | Secretary: drs. Jessica Bakker, tel: +31 (0)50 36 33535, room 5411-829, email: i.j.bakker@rug.nl |
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| 13 | Foreign Market Entry Strategies | EBM090B05 |
| The course deals with managing foreign market entry strategies-- a key factor for successful internationalization. The course specifically deals with the challenges and pitfalls of managing entry modes. The various managerial challenges will be analyzed by using interorganizational theories such as transaction cost economy and institutional theroy. Furthermore, contemporary research findings will be discussed and applied in case studies. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. M.C. Sestu | | Docent(en) | Prof. Dr. P.M.M. de FariaDr. M.C. Sestu | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -actieve deelname, -computer test/wekelijkse quiz, -groepspresentatie, -individuele opdracht, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | Students should have basic knowledge on main organizational theories (i.e. resource-based view, transaction cost theory) and be familiar with working with cases | | Opmerkingen | Coordinator: m.c.sestu@rug.nl, +31 (0)50 36 39744
Secretariat: gem.feb@rug.nl, +31 (0)50 363 3458, 5411.0538 |
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| 14 | Inclusive Finance | EBM069B05 |
| The course is designed for MSc students with a background in (business) economics. The focus is on the role of financial markets in low-income countries with a strong focus on microfinance and financial inclusion. In this course, we will study why financial markets in low income countries fail to provide access to financial services for the poor, which mechanisms allow to provide these services, and which alternative methods are used by the poor to manage their cash flows, finance investments, and cope with income risks. Both theories on financial development and the economics of microfinance as well as empirical applications in low-income countries will be studied in this course. We look at opportunities and limitations of financial institutions in low-income countries in general, and of microfinance institutions in particular. Specific topics include: finance and development; credit market failures; the economics of microfinance; techniques to measure impact of financial interventions on borrower welfare. The course contains main lectures, guest lectures and group oral presentations by students. The course is part of the focus area on finance and development together with the course 'International Finance and Development'. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. K. Czura | | Docent(en) | Dr. K. Czura Guest Lecturer(s)Dr. A.M. Mueller | | Onderwijsvorm | -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -groepspresentatie, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | The course is open for all students with a Bsc in business or economics. | | Opmerkingen | The course can be followed as an elective for the different master programmes within the Faculty of Economics and Business.
The course is part of the focus area on finance and development together with the course International Finance and Development (EBM207A05).
Secretary: Ellie Jelsema, phone: +31 (0)50 3633685, e-mail: e.t.jelsema@rug.nl, room: 5411.0836 |
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| 15 | Int. Fin. Institutions and Governance | EBM198A05 |
| This course will provide students with an overview of the theoretical and empirical literature on the main themes in international financial institutions and governance. The aim is to provide students with in-depth knowledge of how multinationals finance their operations and investments, taking the perspective from the supply side. During the course we will discuss what role (international) banks, stock markets, different types of investors (such as institutional investors, hedge funds, sovereign wealth funds, etc.) play in financing these companies. We will also discuss the consequences of the different types of finance for the governance of these companies. We will deal with these issues by discussing a number of academic articles on related topics. Moreover, we will discuss cases describing the role of various suppliers of finance and their consequences for the governance of multinationals. These cases will be prepared by teams of students and presented during tutorials. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. N. Selmane | | Docent(en) | Dr. N. Selmane | | Onderwijsvorm | -hoorcollege , -werkcollege, -groepsbegeleiding , -gastcollege | | Toetsvorm | -groepsopdracht, -groepspresentatie, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Only open to students of the MSc IFM and to exchange students. | | Opmerkingen | Secretariat: phone: +31 (0)50 363 3685, room 5411.0836 |
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| 16 | International Banking and Finance | EBM096A05 |
| In this course we study internationally operating banks and other financial institutions from an institutional, evolutionary perspective, and with attention to their impacts on the economy. We start by studying money, credit and banking. We study consequences for the economy’s growth and stability. We take a balance sheet approach to understanding each topic. Study materials include online lectures, empirical academic articles and policy papers. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. D.J. Bezemer | | Docent(en) | prof. dr. D.J. Bezemer Guest Lecturer(s) | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -computer test/wekelijkse quiz, -individuele opdracht | | ECTS | 5 | | Entreevoorwaarden | Intermediate quantitative methods, intermediate micro economics, intermediate macro economics, basic banking, accounting. Knowledge of econometrics (OLS, fixed effect models, limited dependent variable models) is recommended. | | Opmerkingen | Secretariat GEM: e-mail gem.feb@rug.nl, room 5411-0538; 0503633458 |
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| 17 | International Finance and Development | EBM207A05 |
| Globally there is an increasing realization of the need to attract foreign capital and finances for national development in the lower income countries. Foreign financial flows could take the form of foreign direct investment (FDI), foreign equity capital, foreign debt, development aid and increasingly remittances. The impact of capital flows and how best to attract and utilize them, especially in developing countries, remain a crucial policy debate. Moreover, the operations of multilateral and international financial institutions and their protocols are complex. This course deals with the role and impact of external finance for development and the mechanisms for attracting them. It also discusses the dynamics of multilateral institutional arrangements, like the World Bank and the IMF. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. A. Minasyan | | Docent(en) | Dr. A. Minasyan | | Onderwijsvorm | -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -actieve deelname, -groepspresentatie, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Background in Economics and/or Business at BSc level | | Opmerkingen | If MSc Finance students are willing to do a “focus” area in Finance and Development, this course needs to be combined with the Inclusive Finance (EBM069B05) course.
Secretariat: e-mail: gem.feb@rug.nl, phone: +31 (0)50 3633458 |
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| 18 | International Financial Reporting | EBM045B05 |
The course introduces the subject of international financial accounting and explains the relevance thereof. The major international financial accounting systems will be compared and discussed. In this context, particularly the international development of the accounting discipline is covered as well as the classification of international accounting systems. Examples of important international financial reporting subjects as
covered during this course are: foreign currency transactions and the related accounting, foreign currency as part of the financial statement consolidation process, hedge
accounting, inflation accounting and segment reporting. Furthermore, international aspects related to the analysis of financial statements will be discussed, and an overview provided which covers the most recent changes in corporate governance in relation to financial accounting subjects. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | S. Rusanescu, PhD. | | Docent(en) | S. Gebraiel, PhD. S. Rusanescu, PhD. | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Students are expected to have passed at least an introductionary course in financial accounting. | | Opmerkingen | Students have to make assignments and present their work in tutorials. Secretary: drs. Jessica Bakker, tel: 050-36333438, e-mail: i.j.bakker@rug.nl |
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| 19 | International Man. Accounting & Control | EBM662A05 |
The course focuses primarily on the specific requirements of multinational organisations with regards to their external and internal information provision and control. The course will consist of two parts. The first part will critically assess a number of core accounting topics, which are particularly relevant for global and devolved organizations. The second part will address the management control of multinational and international organizations.
The first part of the course will address topics including:
•Ethical legislation: Sarbanes Oxley
•Global innovations in accounting: Corporate social responsibility
•The ethics of International Transfer Pricing
The second part will be specifically geared towards such topics as:
•Control of divisionalised and devolved organizations.
•National culture and implications for management accounting and control.
•Management control of international forms of organizing. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. A.R. Abbasi | | Docent(en) | dr. A.R. Abbasidr. M.P. van der Steen | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Admission to MSc IFM
Bachelor degree and bachelor level proficiency in the area of management accounting and control. | | Opmerkingen | Management Accounting & Control or equivalent are recommended priors. Given that the group process benefits from attendance and participation by all, the lectures and research clinics are compulsory.
Secretary: Jessica Bakker, phone: +31 (0)50 363 3535, e-mail: i.j.bakker@rug.nl |
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| 20 | International Risk Analysis and Research | EBM099B05 |
| The objective of the course is to analyse the following research topics from the view of multinational companies; risk-level, risk-taking, financial and/or accounting performance, financing choices, cash holdings, merger and acquisitions. In particular, the course focuses on the roles of several firm-level and country level factors in explaining differences in financial activities between multinational and domestic companies. Students will read several background articles to understand the theoretical arguments and methodology, and discuss them during tutorials. Students are also expected to analyse the impact of international risk components on financial activities of multinationals, focusing specifically on their consequences for corporate risk-taking or the value. Students are required to work individually (or in a group) in order to write a short empirical research paper. The discussion on their analyses will also take place in tutorials. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. H. Gonenc | | Docent(en) | Dr. H. Gonenc | | Onderwijsvorm | -groepsbegeleiding , -hoorcollege , -werkcollege | | Toetsvorm | -actieve deelname, -groepsopdracht, -individuele opdracht, -tussentijds tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Admittance to the MSc IFM. Students are expected to have basic knowledge for econometrics and methods for secondary data analyses. | | Opmerkingen | Secretariat: Ellie Jelsema, phone: + 31(0)50 363 3685, room 5411.0836. |
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| 21 | Master's Thesis IFM | EBM022A20 |
| The master's thesis is the final element of the IFM programme. The thesis should reflect an original piece of research, which represents the full research cycle. The study project thus deals with collection of data, selection of an appropriate research methodology, performing theoretical and empirical research and reporting on it according to academic standards. The project covers international, financial and management perspectives. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | Dr. H. Gonenc | | Docent(en) | Dr. H. Gonenc | | Onderwijsvorm | -groepsbegeleiding , -individuele begeleiding | | Toetsvorm | -individuele opdracht | | ECTS | 20 | | Entreevoorwaarden | Succesfully pass the course Research Methodology for MSc IFM (EBM010A05) and have at least 20 ECTS. | | Opmerkingen | Students should take notice of the regulations as laid out in the IFM Thesis Manual. Contact for more details the course coordinator.
Secretary: Ellie Jelsema, phone: +31 (0)50 363 3685, e-mail: e.t.jelsema@rug.nl. Room 5411.0836. |
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| 22 | Regulating Energy Markets | EBM148B05 |
The central theme of the course is: how do energy markets, in particular electricity and gas markets, function and how can this be improved by governments (regulators). The functioning of energy markets differs from many other sectors because of the economies of scale of the networks, resulting in natural monopolies, the importance of network balance, the societal objective to radically change the nature of the energy industry (i.e. energy transition: renewables, hydrogen, electrification) and the fact that energy is a basic commodity which is needed by everyone. Topics to be discussed are among others: how to determine the tariffs that an operator of an electricity or gas network is allowed to charge on users of the infrastructure? How to implement competition in the energy industry, both on wholesale level and retail level? To what extent need the energy markets be changed because of the energy transition in which fossil technologies are replaced by renewable sources (as wind and solar)? How to give incentives to energy producers and consumers to reduce carbon emissions?
Knowledge of economics of regulating market is useful for positions within regulated companies (TenneT, Gasunie, etc.), companies using regulated infrastructures (in particular large energy users), governments (national, EU), regulatory bodies (ACM, ACER, etc.) and consultancies (PWC, Oxera, etc.).
The course not only deals with the economic theory behind the regulation of markets, but also applies this theory to real-life problems in energy markets. The course consists of lectures and tutorials every week. The course starts by discussing the question why energy markets need regulation. Then, we discuss how the government could regulate these markets. These first meetings are meant to give the students some theoretical background in economic regulation. Afterwards, we discuss key issues in the daily practice of regulation: benchmarking on efficiency and the determination of the the appropriate reward (i.e. the WACC) on capital which is invested in the network. These questions are highly important for regulated firms as it affects how much profit they are allowed to make and to which extent they are able to finance the investments. Then, we go into in the question how to implement competition in energy markets. We discuss the design of electricity and gas markets on wholesale level and how these markets become more integrated on an international level. We also pay attention to how environmental regulation (like emissions trading and subsidies for renewables) can be designed and how this affects the electricity sector/market. We also pay attention to the retail energy market and consumer behaviour, discussing how competition can be implemented in markets where the demand is affected by factors like (perceived) switching costs and trust in retailers.
In most weeks, there will be assignments, which are discussed in the tutorials based on presentations by students. In addition, there will be a few extra tutorials where we recap the material and discuss questions of students. At the end there will be a meeting to discuss the mock exam. This course is part of the focus area 'Energy'. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. M. Mulder | | Docent(en) | prof. dr. M. Mulder | | Onderwijsvorm | -gastcollege , gecombineerde hoor-/werkcolleges, werkcolleges | | Toetsvorm | -groepsopdracht, -groepspresentatie, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Open to all MSc students, but students are recommended to have some background in microeconomics and finance. | | Opmerkingen | Info: Prof. Machiel Mulder, e-mail machiel.mulder@rug.nl
Secretary: K. Beute; e-mail k.beute@rug.nl, room 5411.0734, phone +31(0)50 3637018 |
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| 23 | 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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| 24 | Sustainability in Business and Economics | EBM209A05 |
This course serves as a foundation course for students who are interested in deepening their knowledge of sustainable development in the context of business and economics. Using the UN Sustainable Development Goals (SDGs) as the guiding template, several aspects of sustainable development, such as biodiversity, climate change, poverty, inequality and human rights will be discussed. Guest lecturers from different faculties will discuss the latest knowledge on these topics from their disciplines, and during discussions we will reflect on the uptake of this knowledge in recent studies in business and economics.
The course is organised around a number of ''grand challenges''. During classes, at least the following items will be reflected upon: What is the problem; why does this problem exist; how to determine (un)sustainability; how to relate to the relevant SDGs; what can you do. The nature of the course is interactive; tutorial time will be spend on discussion and doing group or individual exercises and assignments. This includes conducting a case study of an organisation's contribution to the Sustainable Development Goals, culminating in a (poster) presentation and a written report. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. C.H. Slager | | Docent(en) | and others Guest Lecturer(s)dr. C.H. Slager | | Onderwijsvorm | -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -groepspresentatie, -individuele opdracht, -schriftelijk tentamen (open en mc vragen), actieve deelname | | ECTS | 5 | | Opmerkingen | Contact Secretariat GEM: gem.feb@rug.nl, phone. +31 (0)50 363 3458, room 5411.0538. |
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| 25 | Trade, Environment and Growth | EBM097A05 |
| This course (for which basic knowledge of matrix algebra is indispensable) applies input-output analysis to issues on trade, on environment, and on growth. For the production of commodities and services, industries depend on other industries for their intermediate products. More and more, such linkages between industries cross borders. Input-output analysis is a tool that takes such interdependencies in the production structure into full account. It has been applied to a wide variety of topics, ranging from international and development economics to disciplines dealing with energy and environmental issues. The course will focus on three such topics. Typical questions are the following. How much high-skilled labor in the US is involved in satisfying the demand for cars by households in Australia, reflecting trade in production factors? What is the greenhouse gas footprint of China, or how large are the Chinese exports of greenhouse gas emissions? What percentage of the growth in German GDP between 1995 and 2009 was due to the increased household consumption in the rest of the EU? To analyze these questions, the World Input-Output Database will be used. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. H.W.A. Dietzenbacher | | Docent(en) | prof. dr. H.W.A. Dietzenbacherprof. dr. B. Los | | Onderwijsvorm | -interactief hoorcollege , -practicum | | Toetsvorm | -groepsopdracht, schriftelijk tentamen met open vragen | | ECTS | 5 | | Entreevoorwaarden | Students with a BSc degree in Economics & Business Economics, Econometrics and Operations Research (or a comparable degree). Basic knowledge of matrix algebra is indispensable for this course. An indication for a sufficient background is Chapters 15 and 16 in Essential Mathematics for Economic Analysis (4th edition) by Sydstaeter, Hammond and Strom, which is taught in the second year course Matrix Analysis and Optimization. | | Opmerkingen | Secretary: gem.feb@rug.nl, +31 (0)50 363 3458, 5411 0538 |
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| 26 | Value-based Management | EBM160A05 |
| In uw toekomstige carrière kunt u voor de volgende problemen komen te staan: Zou u een nieuw product in de markt moeten zetten? Zou u een deel van de productie uitbesteden? Zou u een andere onderneming moeten overnemen? Hoe moet U deze verandering implementeren? Uw beslissingen bepalen in hoge mate de toekomstige prestaties en de levensvatbaarheid van uw onderneming. Managers creëren waarde door te investeren in projecten met een rentabiliteit die hoger is dan de vermogenskostenvoet. Dit geldt zowel voor de grote strategische als de dagelijkse operationele beslissingen. In het vak Value-based Management leert u de waarde-effecten van beslissingen te bepalen en hoe de val van het kortetermijndenken te voorkomen. U gebruikt de kerninzichten van financiering, accounting en bedrijfsanalyse om een onderneming te waarderen, en U beoordeelt de implementatie van value-based management systemen. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. ing. N. Brunia | | Docent(en) | dr. ing. N. BruniaDr. S. Firk | | Onderwijsvorm | -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Opmerkingen | Coördinator: Dr. N. Brunia, phone +31 (0)50 363 6388, e-mail n.brunia@rug.nl
Secretary: Grietje Pol, phone +31(0)50 363 3685, e-mail g.pol@rug.nl |
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| 27 | World Econonomy in Historical Perspective | EBM101B05 |
| The aims of this module are to provide at an advanced level the sources and methods of quantitative economic history, together with a review of some major findings of economic historical research of interest to economists. This course deals with selected issues during the period of modern economic growth that is, from the industrial revolution until the present time. Within this time frame growth processes of different parts in the world are discussed and compared. The course will address the issue of transferability or replicability of the Western experience to other regions under different institutional and social conditions. Important questions include: How did globalization begin? When and why did it lead to development or underdevelopment, did it play a role in the great divergence in income between the West and the rest of the world. What was the impact of colonialism and free trade on these regions. What lessons does history teach to countries that want to catch up to the West today? The course focuses on important topics related to modern economic growth: technological progress / general purpose technologies, historical institutional analysis, globalization and the historical geography of economic development and Divergence Big Time: Global economic growth since 1870. Students should achieve an understanding of both how economic historical research can be used to shed light on the current state of the economy and how economic analysis can sharpen our understanding of history. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. J. Bolt | | Docent(en) | prof. dr. J. Bolt G. Lecce, PhD. | | Onderwijsvorm | -interactief hoorcollege , -individuele begeleiding, groepsbegeleiding | | Toetsvorm | actieve deelname, verplichte aanwezigheid | | ECTS | 5 | | Entreevoorwaarden | Introductory bachelor course in Economic History or Development Economics (level: E. Helpman, The Mystery of Economic Growth, London, 2004; David N. Weil, Economic Growth, Singapore, 2009; C.I. Jones, Introduction to Economic Growth, London, 2002; K.G. Persson, An Economic History of Europe: Knowledge, Institutions and Growth, 600 to the Present, Cambridge, 2010). | | Opmerkingen | Info: Dr Jutta Bolt, e-mail j.bolt@rug.nl
Secretary Kim Beute, phone +31(0)50 3637018, e-mail k.beute@rug.nl, room 5411.0734 |
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