FINANSIELL ØKONOMI (FIE) 2015-2016 INFORMASJONSMØTE 15 APRIL 2015 PROFESSOR TORE LEITE INSTITUTT FOR FINANS FIE: Intro • FIE most popular major in the NHH-masters program • Spring 2014: Finance had 35% of all masters students • Possible reasons - interesting and exciting subject - Historically strong job prospects (finance masters best paid of the NHH graduates) - “norske meglerhus domineres av tidligere NHH-studenter ” Finansavisen August 2014 - 50-65% of the 50 best bachelor students at NHH has chosen FIE since 2005 2 Finansiell økonomi Makroøkonomi Investorer Kapitalmarked ‘Sparing’ ‘Prising’ Kapitalforvaltning Foretak ‘Investering’ Corporate Finance 3 FIE: Basic structure The finance program offers two ‘’specializations’’ 1. Corporate Finance • Topics include the valuation of firms, financing choices and sources, mergers&acquistions etc. 2. Financial Markets • Topics include the valuation of securities, portfolio management, stocks, bonds, and derivatives, risk management, securities trading etc. 4 FIE: Basic structure • Each student is required to take at least - Two core finance courses One methodological course Three electives in financial economics Six courses outside finance Thesis • Suggested time line - First semester: core courses, methodological course, one course outside finance - Second and third semester: elective finance courses, and elective courses outside finance - Fourth semester: MASTERS THESIS 5 Mandatory Courses • Mandatory Finance courses: two out of the following three courses - FIE 400 Investments/Financial Markets - FIE 402 Corporate Finance - FIE 403 Business Cycle Analysis • Mandatory methodological course: one out of the following three courses - FIE 401 Empirical Methods in Finance - ECN 402 Econometric Techniques - FIE 439 Empirical Analyses of Financial and Commodity Markets 6 FIE: Elective Courses - FIE 421 Long-term macroeconomic analysis FIE 425 Derivatives and Risk Management FIE 426 Asset Management FIE 428 Corporate Financial Management FIE 433 International Finance FIE 434 Behavioral Finance and Wealth Management FIE 435 Financial Modeling FIE 436 Venture Capital, Private Equity, IPOs FIE 437 Valuation FIE 438 Applied Portfolio Management FIE 441 Taxes and Business Strategy FIE 442 Growth and Architecture of Financial Systems FIE 443 Mergers and Acquisitions FIE 444 Banking FIE 445 Project Finance ECO 403 Time Series Analysis and Prediction ECO 420 Corporate Governance ECO 421 Asset Pricing ECO 422 Advanced Corporate Finance ECO 423 Principles of Derivatives Pricing and Risk Management ECN 430 Empirical Methods and Applications in Macroeconomics and Finance 7 Specialization in Corporate Finance • Prepares students for careers in finance functions in corporations, investment banking/M&A, commercial banking, private equity, management consulting, financial advisory, etc. • Provides a framework for assessing the value impact of project decisions, capital budgeting choices, mergers&acquisitions, restructurings, and financing choices • Topics include valuation, the link between financial markets and corporate decisions, corporate governance, mergers and acquisitions, banking, and private equity. 8 Corporate Finance Courses • FIE 428 Corporate Financial Management • FIE 433 International Finance • FIE 436 Venture Capital, Private Equity, and IPOs • FIE 437 Valuation • FIE 443 Merges and Acquisitions • FIE 444 Banking • FIE 445 Project Finance • FIE 420 Corporate Governance • ECO422 Advanced Corporate Finance • FIE 401 Empirical Methods in Finance 9 Specialization in Financial Markets • Prepares students for a broad set of careers in the finance industry, including portfolio management, security analysis, asset allocation, quantitative investment methods, securities sales and trading etc. • Provides an analytical foundation for understanding risk and return, value creation, arbitrage, and regulatory and legal institutions in financial markets • Topics include security pricing and implications for portfolio management, behavioural finance and investor psychology, risk management, and the pricing of derivatives. • In addition, students can learn about the interaction of financial markets and macroeconomics, and study how financial markets are both a source for information and a tool for financial regulation and economic policies. 10 Financial Markets Courses • FIE 421 Long-term Macroeconomic Analysis • FIE 425 Derivatives and Risk Management • FIE 426 Asset Management • FIE 433 International Finance • FIE 434 Behavioral Finance and Wealth Management • FIE 435 Financial Modeling • FIE 438 Applied Portfolio Management • ECN 402 Econometric Techniques 11 For more information about the Finance master at NHH see: https://www.nhh.no/en/study-at-nhh/masterprogrammes/finance.aspx 12