MSc International Financial Management

The world-wide political and economic liberalization and continuous technology improvement in the last three decades have brought unprecedented flows of goods, services, labour and capital across national boundaries. International business today comprises a larger and ever-growing portion of the world’s business and global events and competition affects almost all companies. A company operating internationally will engage in modes of business that are different from those it is accustomed to domestically. International business management is the process of applying management concepts, theories, and techniques in a multinational environment so that firms can become and remain international in scope. Moreover, a comparative view of management and organization in internationally operating firms is provided to understand these processes in detail.

To provide a grounding in the principles of accounting for students at Master level, most of whom are intending to pursue a specialist career in accounting or finance.

This module lays the statistical and econometric foundations for data analyses and modelling, covering fundamental topics of estimation and inferences of linear and non-linear econometric models using Excel/Stata software. The quantitative, analytical and software skills acquired from this module will directly enable students to conduct independent quantitative analysis of data using estimation as well as hypotheses testing. As such, the module aims to help students to learn research methods, an integral part of any research project at post-graduate level, market analysis or policy analysis in government and non-government organisations.

The module provides the theoretical underpinnings of our MSc Accounting and Finance programme. It introduces the pivotal concepts which form the basis of theoretical finance under three broad headings; Portfolio Theory and Practice, Equilibrium in Capital Markets and Introductory Analysis of Asset Classes. Core concepts include the relationship between risk and return, the Capital Asset Pricing Model (CAPM) and the Efficient Market Hypothesis (EMH) but the module also extends this analysis into new theoretical areas such as Behavioural Finance.

This module examines international currency markets and currency transactions, exchange rate systems and the implications of exchange rate volatility. It also explores various currency risks that arise from international operations and examines issues that arise when firms seek financing outside their home markets.

As a result of a range of recent corporate scandals an increased emphasis has been put on corporate social responsibility and the need for the board of directors to conform to an ethical code of conduct while managing the affairs of an entity. This module explores how corporate governance examines the system of rules, principles and procedures through which a company is run to promote the best interest of its shareholders, other stakeholders and the wider society, and considers the impact of artificial intelligence on organisations.

The Applied Cases in International Finance module aims to help students to develop an understanding of the process involved in successfully analysing case information to complete an international finance-related project. The module enables students to understand real-life, complex, multi-layered, multinational issues and synthesise appropriate information while preparing an analysis on a case. It facilitates the independent learning process and provides students with the knowledge, skills and understanding required to articulate findings in a structured report format.

This module provides students with both a theoretical and practical understanding of International Trade, considered from an international political economy (IPE) as well as management perspectives. This is done through the assessment of International Trade from different angles, predominantly from the international trade management view, the international trade operations dimension, the state’s perspective, from the international trade regime perspective (the GATT and WTO) but also from the perspective of the international society, regional cooperation and the perspective of business and industry.

This module is targeted at students interested in understanding the pricing of derivative securities, specifically options. Applications are used to reinforce a rigorous development of arbitrage theory that underpins the pricing of derivative securities.

Corporate Governance is an area that has grown rapidly in the last few years fuelled by high profile corporate collapses and financial crisis. The module builds on sound theoretical base to encompass the latest developments in the field worldwide. It takes an international approach to corporate governance, contextualising its development and providing a stimulating range of academic and empirical practitioner research, and topical case studies. It also introduces institutional and legal systems from both government and firm’s viewpoints that influence the effectiveness of corporate governance.

Risk management focuses on the following types of financial risk that arise for a business: market risk, credit risk and liquidity risk. A brief introduction to non-financial risks is also given, but is not the main focus. This module considers financial risk management strategies; how risk is evaluated; the methods that are available to hedge against risk and the strategies that are employed to mitigate risk. This is complemented by consideration of key risk management issues for financial institutions including bank capital adequacy. The lessons to be learned from the Financial Crisis of 2007-08 are also investigated. Understanding risk and how to identify and deal with it provides a key input for students of finance, accounting or banking.

The module provides an opportunity for students to apply their understanding of key theories and debates in International Political Economy (IPE) to current developments and case studies. Students will be able to discuss and debate the role of the main IPE institutions. Current and future challenges to the status quo of IPE are discussed as well.

The module equips students with the knowledge and tools to implement financial models using Python. The course introduces students to the general principles of building financial models, as well as a number of specific financial modelling tools, including matrix calculations, optimization, regression analysis (both time-series modelling and panel data modelling), out-of-sample forecasting and simulation. These methods are applied to a range of practical problems in finance, including passive and active portfolio management, risk management and currency valuation. The emphasis of the course is on practical application of the theory, with lectures on each topic followed by in-depth practical classes, in which students work through real world problems using Python.

This compulsory module is offered on the MSc International Corporate Finance, MSc International Financial Management, and MSc Investment Management programmes. It provides an opportunity to conduct a study on a finance-related situation and reflect on it. Students are expected to select a finance-related issue from a range of choices, conduct independent research and complete a report within a stipulated period. They will have the opportunity to consult with the Module Convenor while deciding on the business case that interests them. The research should be based on secondary data sources.The students will have opportunity to understand the techniques essential in writing financial reports in the taught module Applied Cases in International Finance. In addition, support sessions will be conducted by the module convenor to assist students to gain a comprehensive understanding of the requirements of the report.