Empowering you with in-depth knowledge of the key pillars in finance and accounting, our core courses sit at the heart of your Masters in Financial Analysis (MFA) experience.
Our core courses are designed to equip you with the skills to launch a successful career in finance, and are based around five fundamental pillars:
Accounting (including Analysis of Financial Statements and Securities Valuation and Financial Modelling), Corporate Finance (including M&A and Capital Structure); Asset Management and Advanced Asset Management (including credit markets, asset allocation, market efficiency and anomalies, and liquidity); Financial Markets (World Economy,Private Equity, Financial Institutions and Personal Finance); and Data and Time Series Analytics.
Combining analytical tools and financial theory, this course will teach you how to make good investment decisions. With this highly quantitative course, you will develop a solid foundation in the fundamentals of asset valuation and asset management. The course will cover multiple asset classes such as equities, government and corporate bonds, derivatives and commodities. You will become familiar with the latest empirical methods employed in the asset management industry and will be fully equipped to implement these methods yourself in the workplace. You will learn approaches to creating value and managing risk in a changing environment.
This course enables you to consider how to allocate wealth into different asset classes and investment strategies. You’ll explore the contribution of fixed income in equity portfolios and the role of alternative investments. A particular focus is given to long-term investing with a coherent modelling of assets and liabilities, and performance evaluation. You’ll look into recent development of more complex investment products, and compare and contrast them with traditional fund structures. This will include the limits to arbitrage and the costs of implementing actual trading strategies.
This course will teach you to value companies, taking into account the incomplete information one often finds in real life. You will discuss the challenges analysts face when valuing a company, and how to better cope with them. Emphasis will be put on the role of information in financial decisions and agency problems. You will also gain a detailed understanding of corporate governance, payout policy, IPOs, and SEOs.
In the wake of the financial crisis, this course will re-examine the fundamental linkages between valuation and financial structure. You will develop an understanding of debt structure and related risk, and analyse the importance of illiquidity and its relation to benchmark asset pricing frameworks.
This course studies the market for corporate control. You will study the key concepts of mergers and acquisitions: how to value a target, strategic behaviour, and different landscapes around the world. You will also discuss the merits of dispersed ownership versus block control, and learn about shareholder activism, corporate re-organisations, workouts and bankruptcy.
Learn to interpret a financial story from any organisation, build your technical toolkit and develop an advanced understanding of revenue recognition, revaluations, foreign currency adjustments, deferred taxes, pension accounting and securitisation. Structured over 10 sessions, this course gives you the skills necessary to read and analyse company financial information.
Delve into issues like business strategy, the reformulation of financial statements, structured forecasting and residual income valuation. Develop a thorough understanding of company value drivers and gain the ability to apply fundamental security analysis and valuation.
Never get caught out on the broad macro issues that drive markets and finance and understand how these impact your organisation. Learn to converse knowledgeably about today’s major macroeconomic issues – with a focus on monetary and fiscal policy and exchange rates, the determinants of growth in advanced and emerging markets and how economic and financial cycles interact. Learn how key data tells a story, including the linkages and interplay between economic and financial variables. Gain an understanding of institutional and theoretical frameworks.
Study the role of banks, insurance companies and investment funds by learning about their business models, assets and liabilities. Start with an overview of the recent financial crisis and, crucially, why banks fail. Analyse the impact of financial regulation; learn to evaluate current market trends and how our major financial institutions are managed. Finally, study funds, including portfolio management, the mutual fund industry and hedge funds.
Understand and analyse the financial decisions that individuals make in their lifetime. Investigate the risks and constraints people face, learn about education investment and the value of human capital, cash management – including credit and mortgages – and cash and portfolio investment up to and after retirement.
Introduce the concepts, techniques, institutions and dynamics involved in the private equity sector. Study real cases from practitioners in Private Equity, practice LBO modeling.
Data and Time Series Analytics
Balancing technical theory with a practical approach, this course focuses on financial econometric modelling. You will learn skills to understand financial market data for asset pricing and performance benchmarking, volatility analysis for derivatives and risk management in both high frequency and longer-term contexts. You will gain a crucial understanding of how economic and business drivers link to financial, commodity and corporate performance.