Master in Finance

• Certified copy of bachelor's degree and transcripts
• Proof of English level: TOEFL score 89 (internet-based), 233 (computer-based); IELTS 6.5; CAE C1 with a minimum score of 176; PTE score 59; English native or equivalent
  Applicants must also meet one of the following:
• A GPA of 3.0 on a 4.0 scale
• A satisfactory score on the GMAT or GRE
• An interview with the academic dean
  * Students who do not meet the criteria will have an interview with the admission committee and will be considered on a merit basis. For more information, please contact the admissions department of your chosen campus.

The Master in Finance (60 ECTS) is a one-year program, divided into three terms. Each term comprises four courses (4 ECTS each) and one seminar (2 ECTS). Throughout the year, students are also exposed to real-life case studies, games and business simulations. In order to graduate, participants must also complete a business plan (6 ECTS).

YEAR 1
TERM 1
(13 CH | 18 ECTS)
Foundations of Finance
This course focuses on theoretical concepts of finance and their application to contemporary business. Topics covered include cash flow, time value of money, valuation of debt and equity, capital budgeting and project evaluation techniques. In addition, the course will aim to identify how these topics can be implemented in blockchain models. Students will gain an understanding of financial transactions, foreign exchange, stock markets and derivatives.
3 CH | 4 ECTS

Financial Reporting & Statement Analysis
Students are introduced to concepts such as tangible and intangible assets, leases, changes in equity and consolidation. The course emphasizes the relationship between reported data and the underlying economic events, providing prospective users of financial statements with a clear understanding of the fundamentals of accounting. Students will learn how to produce well-structured financial reports and analyze these reports strategically.
3 CH | 4 ECTS

Quantitative Methods for Finance
This course examines the theory and methodology of statistical inference, as well as sampling theory, estimation, hypothesis testing, linear regression, analysis of variance, and several advanced applications of the general linear model. Students learn about a variety of statistical and quantitative techniques, and develop an understanding of the value of quantitative methods in administrative and operational problem-solving and decision-making.
3 CH | 4 ECTS

Microeconomic Theory, Macro & Monetary Economics
This course is an introduction to principles of economic analysis, economic institutions, and issues of economic policy. Emphasis will be placed on the allocation of resources and distribution of income through price systems. The course will also focus on aggregative economics, including national income, monetary and fiscal policy, and international trade. Students develop simple graphical and mathematical models of decision-making by individual economic agents: consumers, workers, and businesses. They analyze interactions between these agents in product and factor markets, using concepts of market demand, supply, and equilibrium. Additionally, the course explores how GDP, inflation, unemployment and other macroeconomic aggregates are measured in practice and also focuses on short-run (business-cycle) fluctuations, as well as fiscal and monetary policies.
3 CH | 4 ECTS

Simulation: Stock Market Portfolio
This seminar provides students with the tools necessary for simulating a portfolio and evaluating investments, including stocks, bonds, options and commodities. Additionally, it presents a systematic methodology for constructing efficient portfolios and evaluating portfolio performance. Students gain an understanding of the principles of risk and return and diversification, through the analysis of investments and portfolios.
1 CH | 2 ECTS

TERM 2
(13 CH | 18 ECTS)
Advanced Corporate Finance
Students develop an understanding of how companies can grow and consolidate their financial position. Organic growth, alliances, joint ventures, strategic acquisitions and mergers are studied, while students investigate the concepts and principles of derivative-related financial instruments and their use in investment and corporate financial management. This course also analyzes the role of Fintech in relation to benchmark currencies and market exchanges.
3 CH | 4 ECTS

Financial Markets & Institutions
This course gives students fundamental knowledge of the structure, function and role of the financial system, covering the complex web of links and interconnections within the banking sector. Students learn about financial intermediaries, financial instruments and the different markets within which credit institutions are active players. Furthermore, they gain an understanding of how the prices of equities are determined and will be able to evaluate and distinguish between different forms of capital.
3 CH | 4 ECTS

Portfolio Management
Students learn how to develop an integrated portfolio management plan, including equities, fixed income assets and alternative investments reflecting the goals, risk tolerance, and circumstances of individual and institutional investors. This course builds upon the analytical skills developed in prior courses and incorporates an in-depth study of portfolio optimization and asset allocation, as well as the basics of bond pricing and debt portfolio management.
3 CH | 4 ECTS

Fixed Income Securities & Credit Markets
This course covers traditional bonds and term structure concepts, as well as fixed income derivatives and interest rate modelling. Students learn to identify and distinguish between the different types of fixed income securities, demonstrating how to apply derivative instruments to enhance the returns. They also develop the use of analytic tools in bond portfolio management and interest rate risk management.
3 CH | 4 ECTS

Bloomberg Financial Lab
This provides students with an introduction to Bloomberg, the global financial markets database providing news, analytics and real-time pricing. It also introduces Eikon, a professional platform from Thomson Reuters, which includes historical and current data for equities and other asset classes, including commodities, fixed income and money markets.
1 CH | 2 ECTS

TERM 3
(13 CH | 18 ECTS)
Risk Management in Financial Markets
This course explains different types of financial crises, why financial intermediaries exist and how to identify, measure and manage risks in financial institutions. The focus is on interest rate risk, market risk, credit risk and foreign exchange and liquidity risks. The end goal of the course is to engage students in the active discovery of risk management principles, preparing them to develop an awareness of the challenges, the tools and the process of designing and implementing a risk management program. The course focuses on the ways in which businesses and society assess, control and transfer risk.
3 CH | 4 ECTS

Corporate Investment & Financial Policy
This course examines techniques and issues in corporate finance with a focus on corporate investment decisions. The course covers several aspects of valuation in a corporate setting: estimation of free cash flow, stock valuation along with recognition of growth opportunities, risk management strategies, estimation of beta using online data, and specifying market scenarios to identify sustainable growth outcomes when evaluating investment proposals. Further topics include merger and acquisition strategies, and the examination of options embedded in corporate capital structures.
3 CH | 4 ECTS

Mergers, Buyouts & Corporate Restructuring
Students identify ways to increase firm value through corporate restructuring. Specific topics include: mergers and tender offers, spin-offs, carve-outs, divestitures, takeover defense strategies, bankruptcy and bankruptcy acquisitions, international acquisitions and leveraged buyouts. Emphasis will be placed on valuation analysis and techniques, to assess the values of the assets of the merging firms.
3 CH | 4 ECTS

Fundamentals of Blockchain Technologies
The goal of this course is to enable students to work within and competently understand the changes occurring in fintech. Students will gain an understanding of the use of digital cryptocurrencies and develop an appreciation and understanding of how to apply their knowledge as a technical and operational skill. Furthermore, they will develop a grasp of the interoperability that has driven the interest and adoption of cryptocurrencies in business and government.
3 CH | 4 ECTS

Simulation: Cryptocurrency Portfolios & Mock Coin Development
This seminar is designed to provide a hands-on understanding of decentralized digital currencies (cryptocurrencies) such as bitcoin. Students will analyze the theory and principles by which cryptocurrencies operate, financial, legal and regulatory systems, and how cryptocurrencies could be viewed within a framework of innovation and development. Concepts of blockchain are discussed and students set up mock cryptocurrency portfolios and track mining activity, while deepening their understanding of this disruptive Fintech.
1 CH | 2 ECTS

GRADUATION (Requirements)
Final Project/Business Plan
Students will also be required to submit a final project or business plan (6 ECTS) at the end of their studies and to attend field trips, company visits and fairs as part of the experiential learning method.
4 CH | 6 ECTS

• Three Terms/One Year Fees Per Term CHF 9,600
•  Total Course Fee CHF 28800