Choose from more than 70 inspiring electives, to help your professional transformation. Elective options are available in London and Dubai, with further options at Columbia Business School and The University of Hong Kong.
Choose from weekend, weekday, evening and block-week classes to broaden or concentrate your sphere of knowledge. Select a minimum of six electives from the comprehensive portfolio outlined below. Your elective choice is limited by your availability to attend class; if you commute long distances or have a less flexible work schedule you may wish to complete electives scheduled at weekends or in modular format.
As an elective option, why not choose a business project to add value to your business? With supervision from faculty, this is an ideal opportunity to provide a substantial, tangible benefit to your company. You demonstrate your ability to identify and understand key challenges and implement solutions.
Alternatively, test the feasibility of a new business opportunity on the Entrepreneurship Summer School. With guidance from a mentor, panellists and guest speakers, you overcome obstacles, build your network of contacts and present your business plan to potential investors and successful entrepreneurs. You will discover if the entrepreneurial path is for you.
Financial Statement Analysis
Gain the ability to meaningfully interpret financial reports, construct measures of financial performance and analyse the reporting choices made by companies.
Private Equity and Venture Capital
Deepen your understanding of the concepts, techniques, instruments and institutions involved in private equity investment. Explore the various segments of private equity, including new venture finance, corporate venture capital and buyouts with particular attention to the technology sector and turnarounds.
Securities Analysis and Financial Modelling
Gain an understanding in the financial performance of an organisation or conduct corporate valuation.
Learn about fundamental analysis and develop financial models for determining the intrinsic value of a firm's stock.
Your organisation’s financial statements provide the main source of information for analysis.
Develop the analytical framework necessary to understand your business performance and financial structure, and learn how to produce a full financial model of your company. The framework can also be used by investors and outside analysts to appraise and value companies, as well as covering alternative methods of appraisal and valuation.
Learn how to evaluate the risks and gains from doing business in the main emerging markets of Eastern Europe, Latin America, South East Asia and Africa using a detailed framework.
European Financial Markets
How does the European Central Bank differ from the Fed? Will the euro compete with the dollar as an international currency? Can European capital markets challenge the US for international portfolio managers and non-European issuers? Will Europe soon have serious venture capital and junk bond sectors? These and other key issues are explored.
Global Capital Markets and Currencies
Understand the international financial environment facing firms in a globalised economy. Gain tools for assessing the impact of economic policy shocks and financial disturbances on financial markets, exchange rates, and capital flows. The course is suitable for anyone seeking further understanding of the international macro-economy. It will be especially relevant for those in investment analysis, asset management, hedge funds, capital markets, corporate finance, and the finance/treasury function of corporates.
This new elective is about big ideas, and ideas that were big enough or will be big enough to capture the ultimate reward for novel and noble thinking: the Nobel Prize. In this elective. You explore profound ideas and seek out the impact for business. You gain the opportunity to discover why Nobel-winning ideas are revolutionary and how they have changed the business world.
World Economy: Problems and Prospects
Deepen your understanding of the way the global economy is evolving by analysing current topical issues. Acquire experience in economic analysis and knowledge of what the global economic environment is likely to be in the next five years. Gain an understanding of the likely behaviour of financial markets as well as the issues facing governments in their policy choices.
Advanced Corporate Finance
Apply the theoretical concepts, covered in the core EMBA finance courses, to problems in the area of corporate finance with all the complexities that the real world entails. Through cases and discussion of topical issues, learn how to fill the gap between rigorous finance theory and its application to practical problems.
Over the past decades, the field of finance developed a successful paradigm based on the notions that investors and managers are rational and that the market is efficient. In recent years, however, anecdotal evidence and theoretical and empirical research has shown this paradigm to be insufficient to describe various features of actual financial markets. In this course, we explain financial market phenomena by incorporating institutional, social, cognitive, and emotional biases to the traditional paradigm. This broader perspective is called behavioural finance.
Capital Markets and Financing
This elective complements the core corporate finance course, and forms the second part of a two-course sequence covering corporate finance. Gain a broad conceptual and practical platform for analysing issues in corporate finance. Examine the financing activities of firms, how firms raise capital and the implications of various financial decisions. In particular examine equity issues, dividend policy, corporate debt, and hybrid forms of financing such as convertibles and warrants.
Gain an in-depth understanding of credit risk: how it is traded, how it is priced, the instruments that are available for managing credit exposure and the different approaches to assessing default risk. Achieve a balance between a sound conceptual framework and market understanding and insight. Both are essential to the informed practitioner. This elective is for you, if you are in, or contemplating a career which requires in-depth knowledge of credit risk.
Derivative instruments such as futures, swaps and options are now an indispensable part of the toolkit of all financial practitioners, from investment managers to CFOs. This course provides you with the necessary skills to be a sophisticated, informed user of derivatives. Acquire a robust conceptual understanding of the fundamental issues that determine the use, valuation and behaviour of these instruments. This means a thorough grounding in both the real-world details of the products, and in the models used to analyse them , as well as their limitations.
Financial assets are "distressed" when their value is severely depressed for a reason particular to the issuer. The most common situation is a bank loan or bond on which the issuer has defaulted on payments. Distressed asset investing is undertaken by a small number of firms. Knowledge of how to implement the strategies successfully, particularly control investing, is very limited. Understand this most innovative and influential area of corporate finance and private equity activity globally. You gain access to best practice through case studies, practical examples and lessons learnt.
Equity Investment Management
Study the most important theoretical concepts in the field of investment management. Examine whether these theories are supported by empirical evidence, and identify the practical implications for investment professionals. You gain particular insight into topics where research sheds valuable light on professional investment management.
Financial Engineering and Risk
Develop cutting-edge methods to acquire a systematic, unified approach to the pricing of derivatives and learn cutting-edge methods. Continuous-time mathematics is developed and employed as the main tool of analysis. In developing the theory, you cover stochastic calculus, the valuation of securities via martingale methods and valuation via partial differential equations, as well as the necessary numerical methods. Applications will include exchange options, quantos, exotics (binaries, barrier options, Asian options, lookbacks), interest rate derivatives and credit derivatives.
Fixed Income Securities
Undertake a rigorous study of fixed income securities. The course begins with pure discount, default-free, government bonds and moves on to coupon bonds, callable bonds, putable bonds and floating rate notes. You also analyse forwards and futures on fixed income securities, bond options, options on bond futures, caps, floors, collars, swaps, swaptions and interest-rate exotics. Gain tools for bond portfolio management, including construction of discount functions (or yield curves), horizon analysis, immunisation and duration/convexity matching for hedging, and models for pricing a variety of fixed income securities. The course is quantitatively oriented and requires some background in calculus and statistics.
Explore key questions including how the investment models of hedge funds differ from those of mutual funds, how to measure their alphas, the risks, and whether the hedge fund model is sustainable. Compares hedge funds with mutual funds and discuss data and index problems. Review cutting edge as well as published research in the area of hedge funds and gain a unified theoretical framework encompassing the different hedge fund strategies. The course also examines portfolios construction, risk management, performance evaluation and other issues.
Acquire an integrated view of international financial markets and the management of multinational firms. The focus is on markets for spot exchange, currency forwards, options, swaps, international bonds and international equities. For each of these markets, you study the valuation of instruments traded in these markets and, through cases, the application of these instruments.
Mergers, Management Buyouts and Other Corporate Reorganisations
Examine several forms of corporate reorganisations, including mergers and acquisitions, reorganisation through workouts and bankruptcy, divisional spin-offs and divestitures, and leveraged buyouts. Analyse the process of managing reorganisation, the role of the investment bank and other specialists, regulation, and cross-country comparisons.
Real Estate Finance
Gain the concepts and tools you need to understand real estate markets and for managing real estate assets, with a focus on value creation. Most of the course will focus on commercial real estate. Topics covered include valuation and investment analysis, financing, economic, legal, political and taxation issues and recent trends and challenges.
Topics in Asset Management
Learn about asset management in practice and be better prepared for a career in investment management. Topics include the jobs asset managers and their advisers do, and the challenges as new ideas are adapted to meet the needs of customers and clients.
Management Science and Operations
Energy Markets, Models and Strategies
Understand the basics of power system economics and review the structural and strategic changes affecting the industry, investment issues and technology choice. Acquire a basic understanding of how the competitive markets for electricity, both wholesale and retail, work and how to model their price and implications. The course focuses mainly upon electricity, but it is also relevant to students wishing to be familiar with related issues affecting the oil and gas industry.
Managing Sport and Entertainment
Develop your skills and understanding in the strategic, operational and marketing management of the sports and entertainment businesses. Hone your strategic and operational thinking in this key area of future economic growth.
Crucial for any executive, gain vital insights into the frameworks, methods, techniques and tools for coping with the three principal dimensions of project management: time, cost and quality. You get hands-on experience with state-of-the-art software tools for project management (time planning, resource allocation, and risk analysis). Emphasis is placed on organisational and strategic issues.
Supply Chain Management
Learn best practice and cutting-edge theory for designing and executing supply chains.
Practice managing supply chains in a realistic laboratory and obtain insightful feedback on your decisions.
This course is relevant to anyone interested in working in organisations that make, distribute or sell physical products, as well as firms that evaluate, invest in, or offer services to those organisations. It exposes you to both the qualitative frameworks and to the detailed mathematical models behind decision-making.
You explore all dimensions of brand management, from defining brands, brand building strategies, brand architecture and extension issues and brand repositioning. These points will have particular focus on luxury and retail brands. Rather than focus on academic theory, this applied and advanced course takes an extremely executive viewpoint. Focus ranges from small start-up brands to consumer brands, service brands and business to business (B2B) brands.
Examine the objectives behind communications, identify issues that stand in the way of leaders and explore insights that reveal human observations and truths. You analyse and articulate the best way to respond to these human insights. You also practise developing more potent organising ideas for both internal and external audiences.
Customer and Marketing Analytics
Explore the main analytical methods that are fundamental to marketing decision making and strategy. Gain a comprehensive knowledge of the development and use of these tools free of unnecessary technical detail.
Going to Market: Managing the Channel and Sales Force
Gain fundamental insights into how to successfully design, execute and evaluate a company's channel and sales force strategy and tactics. Explore the interaction of channel and sales force decisions with other marketing variables, such as branding, pricing, product characteristics or the product lifecycle.
Managing and Marketing Innovation
Explore and examine the topics: identifying, initiating and responding to breakthroughs, disruptors and radical innovations, organising for innovation, internalising external sources of innovation, entering new markets and ensuring product take-off. You examine the concepts, cognition and context to making strategic decisions on innovation.
Equip yourself with the tools and frameworks needed for making profitable pricing decisions across diverse industries. Taking the perspective of the marketing manager, you explore the strategic and tactical dimensions that underlie the process of price management. While the emphasis is on pricing, this cannot be independent of other marketing decisions, so an important challenge in this course is to consider pricing decisions in the context of other marketing activities, as well as marketing strategy.
Businesses and Careers of the Future
Explore what organisations and individuals need to do to “future-proof” their success. Address questions such as ‘What are the game changers on the business horizon?’ ‘How can organisations and individuals stay ahead of the curve?’ and ‘What are the most innovative companies doing today to prepare for the future?’
Career leadership: Strategy for Creating Careers and Effective Leaders
The world of work reflects the new business environment: fast-moving, uncertain and in constant evolution. Understanding how to navigate it requires more than technical and people skills. Leading horizontally rather than vertically is a necessity. As you transform your career, you require a deep understanding of how to grow key relationships, establish resilient networks and develop social capital.
Leading Teams and Organisations
Lead effectively in a wide variety of situations by gaining an understanding of the general principles and processes of effective leadership. Covering a broad range of leadership situations, you develop leader attributes and learn about leadership that arises from understanding group processes and the ways in which team members influence one another. Topics covered include understanding more about the nature of leadership, learning what separates successful business executives from their less successful counterparts and learning how to develop confidence as a leader.
As an increasingly fundamental part of business, change management is a crucial skill for managers, whether the company is large or small, local or international. Build your understanding of, and practical capability to implement, the many facets of change management and how to plan for and cope with change and its implications.
Negotiation and Bargaining
Gain a broad understanding of the central concepts in negotiation and develop strategies for analysing and preparing for negotiations. Practise negotiation skills, receive feedback on individual negotiation problems and improve your ability to analyse the behaviour and motives of individuals, groups, and organisations in competitive situations. This course is suitable for anyone who communicates in their daily interactions with other people. It is also useful if you have interests in brand management, real estate, consulting, entrepreneurship or mergers and acquisitions.
Paths to Power
Define your path to power. Gain the skills for exercising and influencing power to defend against threats. See the world differently: change what you notice, what you think about and how you apprehend the world around you. The course aims to equip you to recognise and cope with difficult situations that may be encountered in positions of power. Topics covered include: 'The paths to power: Finding your way and preparing yourself', 'Building your path to power: Creating a domain' and 'Falling off the path: What's different when you have power and how power is lost'.
Achieving Strategic Agility
Learn how to craft strategy for a future that is uncertain, fast-changing and unknowable. Discover how to motivate employees across your organisation to help identify and act on opportunities. Explore ways to organise and structure a company to be more agile; including approaches to decision making, sensing and responding to opportunities quickly, a modular way of organising and a more agile set of management processes.
Entrepreneurship in Emerging markets
Equip yourself to deal effectively with the issues you are likely to face in entrepreneurial ventures in emerging markets. Subjects covered include managing in times of rapid demographic and socio-economic change, innovating in emerging markets, managing in ethically corrupt environments, dealing with multinationals, building winning businesses in resource constrained environments and understanding consumers in emerging markets.
Entrepreneurship Summer School
Be challenged to research and shape an entrepreneurial opportunity of your choice. The Summer School enables you to develop and apply skills for assessing and shaping an opportunity through field-based primary research – and to build a network of key contacts in the process. Become familiar with the entrepreneurial way of life and develop your awareness of your own suitability. At the end of the course you deliver an evidence-based snapshot of the viability of your venture to a panel of experienced entrepreneurs and investors.
Mergers, Acquisitions and Alliances
Gain a strategic and managerial perspective on every step in the M&A/Alliance formation and implementation process. This elective is suited to strategy consultants or investment bankers and those who will eventually lead corporate development functions within firms. The course builds on many concepts covered in the core strategy courses and links to other courses such as corporate strategy and is complementary to finance-oriented electives.
New technology ventures
Familiarise yourself with state-of-the-art technology entrepreneurship, including increasingly important approaches such as agile methods, lean startups and the use of minimum viable products. Innovators, entrepreneurs or investors who are interested in new technology ventures can maximise their chances for success in transforming ideas into income.
Examine strategic innovation from the perspective of an established company and learn how to respond to disruption. Address questions such as: What exactly is strategic innovation and why should you engage in it? How should you strategically innovate? How can you assess if a new business model is good, and how can you convince your organisation to embark on such a journey?
Strategies for Growth
Get answers to the question that most keeps top executives awake at night: "Where should tomorrow's growth come from?" Learn how to create the growing firm, and how growth strategies are not always 'designed' by managers but emerge from within an organisation. Analyse how effective leaders organise their companies to achieve continuous organic growth. Examine a firm’s formal strategic choices, its internal organisational environment, the process of growth, and the role of historical accident and the personality of the managers involved. Explore the pivotal issue of balancing the demands for long term growth and short term profitability. You will learn how, as a leader, you can shape your organisation to deliberately control the growth process of the firm.