Corporate Finance

Core Modules

• Mathematical Methods

  In this module you will develop an understanding of basic mathematical methods that are used in the study of Economics and Finance, including basic matrix analysis, topology, statistics, and probability theory. You will look at differentiation and integration of standard functions, and basic manipulations of vectors and matrices. You will also examine various optimisation problems and theorems leading to certain basic results in calculus.

• Corporate Finance
  In this module you will develop an understanding of the techniques used in financial decision making in the modern corporation. You will look at how corporations appraise investment opportunities, raise finance to fund such projects, and increase shareholder wealth via sound management and planning. You will examine the discounting methods used to value financial assets, the processes firms go through to raise funds from share issue, and the factors that affect the optimal capital structure of the firm.
• Employability

  The aim of the course is to give guidance to students who want to work in the financial industry. The level of this course is mostly for third year or MSc students, but it does not require pre-existing knowledge so first and second year students can follow this course. This course aims to bridge the gap between finance studies at university and what finance industry professional expect from graduates. The course explains precisely what existing finance jobs entail, what is required from the people working in those jobs, what the perspectives of these jobs are. This course will also prepare students for the professional interview of such a job.

• Corporate Risk and Governance

  This core module covers two of the most important aspects that influence important corporate finance choices i.e. risk and governance. The first aspect of risk influences many corporate finances decisions from a choice of a project within a company, dividend payment, to optimal leverage. The second aspect of governance is critical for corporate finances as it provides a context in which financial decisions are done within a company with respect to ethical behaviour. It also influences how decisions are done within a company, for example, a sound financial decision might not be taken because the governance incentivises the benefit of the manager at the expense of shareholders. The module cover two large sections of the Charted Financial Analyst (CFA) qualification so help student in achieving this qualification. The business ethics topic is also in demand among employers, and this is the only module covering this topic.

• Foundations of Quantitative Methods

  This is a module familiarises students with the principal methods of econometric analysis. The emphasis is on applied methods and will try to ensure that students are comfortable when reading and evaluating the econometric work of others and that they can also produce good quality applied econometric work of their own. The module is designed to ensure a sound understanding of estimation by ordinary least squares (OLS). Students will be introduced to the principles and assumptions underlying OLS and the consequences of any departure from these assumption.

• Dissertation in Finance

  You will attend a set of preparatory classes to equip you with the necessary skills required for research, including a hands-on approach to using statistical packages and reading peer-reviewed articles. You will be expected to use either econometric or statistical techniques and apply your knowledge and skills from the other quantitative methods and theory modules taken during your studies, to produce your own piece of research around 10,000 words in length.

• Academic Integrity

  This module will describe the key principles of academic integrity, focusing on university assignments. Plagiarism, collusion and commissioning will be described as activities that undermine academic integrity, and the possible consequences of engaging in such activities will be described. Activities, with feedback, will provide you with opportunities to reflect and develop your understanding of academic integrity principles.

   

Optional Modules

There are a number of optional course modules available during your degree studies. The following is a selection of optional course modules that are likely to be available. Please note that although the College will keep changes to a minimum, new modules may be offered or existing modules may be withdrawn, for example, in response to a change in staff. Applicants will be informed if any significant changes need to be made.

• Private Equity

  The aim of this module is to give a more in-depth look at corporate finance issues related to company evaluation and with the main user of those evaluations e.g. private equity and Venture Capitalist (VC). It also aims at giving a practical approach to key aspects of corporate valuation, for example, leverage. Finally, this module will detail the dynamic and the valuation specificity for the different stages of the company from the start up, to the IPO to the mature company doing merger and acquisition.

• Fixed Income Securities and Derivatives

  This module provides an overview of a very significant area of the contemporary financial world. The first part gives a coverage of the important elements of the default-free fixed income securities market, and the second part covers the derivatives market. The module focuses on the analytical tools used in portfolio management and risk management. For bond portfolios, these tools include yield curve construction, duration, convexity and formal term structure models. For derivatives, the emphasis will be on valuation, trading mechanisms and management of credit risk.

• Investment and Portfolio Management
  In this module you will be introduced to the underlying theory and empirical evidence in portfolio management and its practice in the financial sector. Portfolio theory is blended with practical issues encountered in the investment process, and you will cover topics which include identifying investor objectives and constraints, recognizing risk and return characteristics of investment vehicles, developing strategic asset allocations among equity, managing portfolio risk, increasing portfolio return, and evaluating portfolio and manager performance relative to investment objectives and other appropriate benchmarks. You will develop an understanding of how funds are allocated in portfolio construction, and look at security analysis, optimal portfolio selection and delegated portfolio management.
• Financial Accounting and Reporting

  In this module you will develop an understanding of contemporary issues in the theory and practice of international financial accounting and reporting. You will look at the fundamental characteristics, aims, contents, and structures of the main financial reports through which organizations measure and report their financial performance and position. You will examine the usefulness of financial accounting reports, and the tools and techniques of financial analysis. You will consider issues related to the recognition and measurement of intangible assets, ways of valuing assets, key regulatory differences, the conceptual framework and differences between IFRS and US GAAP. You will also critically evaluate the reporting and the financial performance of companies.

• Advanced Topics in Macroeconomics

  In this module you will develop an understanding of some of the key topics in macroeconomics, notably the roles of technological change, monetary policy, and fiscal policy in macroeconomic fluctuations. You will look at models of economic growth, resource allocation, and technological change, evaluating empirical evidence of these, and you become familiar with techniques such as dynamic optimisation, log-linearisation and difference equations for general economic analysis.

• Advance Macroeconomics
• Time-Series Econometrics

  The module introduces you to the main econometrics techniques used to analyse time series data. The core knowledge embodied in the course will enable students to understand, and critically assess the extant literature in empirical time series econometrics.  At the end of the course, you will: have an understanding of linear and non-linear time series at a level that should make them able to read the relevant empirical literature and some theory articles; identify the appropriate methodology for large sample modelling of economic data collected over time; demonstrate ability to apply the correct testing procedures on time series data. The module will cover modelling, estimation and inference for univariate and multivariate linear time series as well as non-linear time series.