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Incredible choice

Personalise your learning experience and achieve your career ambitions with our inspiring range of more than 40 electives - more than any other Masters in Finance programme.


These practical and rigorous electives bring together students from across the School. Study alongside students from the MBA, LBS Sloan Masters, Executive MBA and other programmes – widening your network and perspectives.


Electives run in a range of formats and at different times during the academic year. Choose between weekend, weekday, evening and block-week formats.  You can select up to 10 electives from the comprehensive portfolio outlined below. A minimum of eight are required to complete the programme.


Although we aim to maximise your choices, your selection will be influenced by your own timetable and work commitments, and inevitably this may lead to restrictions. The electives available may vary slightly from year to year.

Accounting

  • Advanced Financial Statement Analysis

    Cover the fundamentals of financial analysis, evaluate the quality of financial information and use the information to reveal the economics of firms.


    Lecturer: Eli Amir

  • Corporate Communication and Investor Relations

    Financial communication is what firms use to communicate about the firm, its activities, and its priorities with various stakeholders. Although its primary audience is capital providers and the intermediaries that support these capital providers, employees, customers, and competitors as well as governments are also informed via financial communication. In this course, we will cover various communication channels managers can use to inform its stakeholders and the role of the information intermediaries in the financial communication process. With the advance of new communication channels such as the use of social media by corporations in addition to the continued scrutiny on regular communication channels such as earnings announcements and conference calls, investor relations and corporate communications is an important function. In summary, students will develop an understanding of how information is used in markets and how managers can help to assure this information most accurately reflects their view of the firm.


    Lecturer: Irem Tuna

  • Financial Analysis of Mergers, Acquisitions and Other Complex Corporate Restructurings

    Understand the financial reporting and analysis of transactions and restructurings, including mergers and acquisitions, joint ventures, dual listed companies, stock repurchases, spin-offs, carve-outs, leveraged buyouts and recaps.


    Lecturer: Eli Amir

  • Private Equity and Venture Capital

    Explore the concepts, instruments and institutions involved in private equity investments. A particular emphasis is given to emerging markets.


    Lecturer: Francesca Cornelli and Dwight Poler, or Eli Talmor and Florin Vasvari

  • Securities Analysis and Financial Modelling

    Focus on the tools and techniques of securities analysis and the development of a framework for making investment decisions. Cover fundamental analysis and development of financial models for determining the intrinsic value of a firm's stock.


    Lecturer: Scott Richardson and Larkshmanan Shivakumar

  • Systematic Investing

    Understand the fixed income market, the terminology used to describe fixed income securities, and the actively managed credit products (retail and institutional) on the market. Learn about credit risk premium and the timing exposure to it, corporate bonds, credit default swaps and trade-offs. 


    Lecturer: Scott Richardson

Economics

  • Monetary Policy, Credit and Banks

    Learn how money and credit are created in modern financial systems, focusing on the key role of banks. Explore how financial development will affect businesses around the world and provide insights on current approaches to financial regulation.


    Lecturer: Richard Portes, Lucrezia Reichlin and Frederic Malherbe

  • Elements of Machine Learning for Business

    An introduction to the modern tools needed for data science and to programming language. This elective also covers the advanced techniques behind applied machine learning and how such learning relates to artificial intelligence. Discover how to spot the difference between a supervised (classification) and unsupervised (clustering) technique, which approach to take when dealing with particular datasets and how big data models can be applied in business.

  • Emerging Markets

    Acquire a detailed framework for understanding and evaluating the opportunities and pitfalls for businesses, markets, financial institutions and government policy in a wide variety of markets.


    Lecturer: Elias Papaioannou and Paolo Surico

  • European Financial Markets

    Examine an extensive array of European financial issues, including monetary policy, financial integration and associated regulatory frameworks, corporate restructuring and corporate governance, the euro and the international financial system.


    Lecturer: Richard Portes

  • Global Capital Markets and Currencies

    This advanced macroeconomics course focuses on currencies and exchange rates and the links with interest rates, prices and financial globalisation.


    Lecturer: Hélène Rey

  • Understanding International Macroeconomics

    Familiarise yourself with the workings of the global economy and the main factors that determine the financial health of corporations and nations, including what makes countries rich and how technology affects the economy.


    Lecturer: Lucrezia Reichlin and Vania Stavrakeva

  • World Economy: Problems and Prospects

    Study the evolution of the global economy by focusing on current topical issues. Topics covered last year included why African growth disappoints and Japan’s recovery and long-term prospects.


    Lecturer: Lucrezia Reichlin, Elias Papaioannou, Paolo Surico, Andrew Scott and Vaina Stavrakeva

Finance

  • Advanced Corporate Finance

    Relate corporate finance theory to practice, and cover advanced topics in valuation and financing.


    Lecturer: Rui Silva and Alexander Guembel

  • Banks and Financial Institutions

    Examine banks, insurance companies and investment funds. Topics include the role of intermediation, the part played by banks in the real economy, regulation and management of banks, valuation of financial institutions, the functions and conduct of insurance companies, behaviour and management of mutual funds and hedge funds.


    Lecturer: Christopher Hennessy and Narayan Naik

  • Behavioural Finance

    Survey recent developments in behavioural finance – a field that seeks to explain seemingly irrational financial phenomena in terms of individual behaviour, psychology and cognitive errors.


    Lecturer: Samuli Knupfer

  • Corporate Valuation

    Identify ways of valuing businesses based on discounted cash flow (DCF) and cost of capital. Understand how to make profit-based valuations that are consistent with DCF, or how to adjust a valuation to reflect changes in capital structure. All good business valuations involve a mixture of both technical discipline and judgement. Develop the technical proficiency to make sound assessments.


    Lecturer: Ian Cooper

  • Credit Risk

    An in-depth examination of issues in credit risk, its modelling and applications, as well as new developments.


    Lecturer: Stephen Schaefer

  • Derivatives

    Gain a rigorous conceptual framework for valuing and understanding the behaviour of derivative instruments and their use in risk management and speculation.


    Lecturer: Peter Feldhutter

  • Distressed Investing and Financial Restructuring

    Understand this innovative and influential area of corporate finance and private equity activity globally. Assess best practices in the field with reference to case studies, practical examples and lessons learnt. The course draws from the experience of principals at Oaktree Capital Management, one of the world’s premier distressed debt and restructuring firms.


    Lecturer: Justin Bickle, Francesa Cornelli and Florin Vasvari

  • Equity Investment Management

    Understand applications of modern portfolio theory to equity investment, strategic asset allocation, portfolio optimisation, traditional active management versus hedge funds, stock market anomalies and the implications of behavioural finance.


    Lecturer: Narayan Naik and Samuli Knupfer

  • Financial Engineering and Risk Management

    Use continuous-time mathematics and cutting-edge methods to value, hedge, design and structure a wide variety of derivative contracts. Cover stochastic calculus, martingale methods, partial differential equations and numerical methods.


    Lecturer: Suleyman Basak

  • Fintech

    Focus on how financial technology is breaking the financial services value chain through more efficient provisioning of payments, deposits and lending, capital raising, wealth management, insurance and market data analytics. Explore the effects of smart wearables, digital identity and other new technologies on business models, as well as how big data and artificial intelligence impacts traditional approaches to business and governance.

  • Fixed Income Securities

    A rigorous, quantitative course on the valuation of fixed income securities, the tools used in bond portfolio management and the management of interest rate risk.


    Lecturer: Suleyman Basak

  • Hedge Funds

    Review cutting-edge research on the fast growing hedge fund industry.  Gain a unified framework encompassing the different hedge fund strategies and the role of hedge funds.


    Lecturer: Narayan Naik

  • International Finance

    Examine the workings of the international fixed income, international equity, foreign exchange and forex derivatives markets, and learn how these markets can be used to solve corporate problems such as managing exposure to exchange rates and country risk.


    Lecturer: Christian Heyerdahl-Larsen

  • Mergers, MBOs and Other Corporate Reorganisations

    Examine corporate re-organisations, including mergers and acquisitions, re-organisation through workouts and bankruptcy, divisional spin-offs and divestitures, and leveraged buyouts.


    Lecturer: Julian Franks and Stefan Lewellen

  • Project Finance

    Acquire a framework for understanding the many ways in which project finance can mitigate specific risks and provide incentives, while also assessing the limitations of such structures.

     

    Lecturer: Karl Lins

  • Real Estate Finance

    Acquire the concepts and tools necessary for understanding real estate markets and for managing real estate assets, with a focus on value creation.


    Lecturer: João Cocco

  • Topics in Asset Management

    Explore the roles of analysts, quantitative specialists, strategists, fund managers, consultants, real estate and hedge fund professionals, and investment advisors. There are numerous case studies (many of them live) such as pension investing analysis, and dinners with visiting speakers from companies such as Aberdeen Asset Management.


    Lecturer: Robert Jenkins

  • Value Investing

    Develop the ability to value companies and to find and appraise equity investment ideas. The primary teaching method will be the consideration of specific investments, both current and historic. This is an application-based elective with restricted places.


    Lecturer: Eddie Ramsden

  • Wealth Management and Islamic Finance

    Recognise and navigate with confidence a broad range of conventional wealth management and Islamic finance concepts, tools and structures. Analyse wealth management through the lens of investment management, and explore key aspects of Islamic finance that relate to equities and fixed income, banking models and sectors including real estate, private equity and project and structured finance.


    Lecturer: Narayan Naik

Management Science and Operations

  • Data Mining for Business Intelligence

    Bridge the gap between what we learn from statistics, decision models and other related elective courses and the data mining tools used to gather this information. Learn how to interpret and evaluate data mining models and results, and how to use relevant software to implement different algorithms. Recognise the challenges involved in a data mining project. 


    Lecturer: Tolga Tezcan and Nicos Savva

  • Energy: Markets, Models and Strategies

    An introduction to the basics of power system economics, a review of the structural and strategic changes facing the industry, investment issues and technology choice.


    Lecturer: Derek Bunn

  • Project Management

    Understand the concepts, methods, techniques and tools that support modern project management. Get hands-on experience with state-of-the-art software tools for project and project portfolio management.


    Lecturer: Bert De Reyck

  • Time Series Analysis, Market Models and Forecasting

    Explore the analysis and forecasting of time series data, especially high frequency financial data. The course covers non-stationarity, mean reversion, auto-correlation, co-integration, causality and contagion.


    Lecturer: Derek Bunn

Organisational Behaviour

  • 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.

Strategy and Entrepreneurship

  • Financing the Entrepreneurial Business

    Learn to finance and value entrepreneurial businesses with both loan finance and equity capital, covering start-ups, emerging growth companies, MBOs and buy-ins, and exiting.

     

    Lecturer: Gary Dushnitsky and Martyn Williams, or Martyn Williams and Keith Wiley

  • Managing a Digital Organisation

    Understand the differences between industrial and digital organisations and gain the frameworks and practical advice for managing and working in the latter. Discover how digital products are built, deployed, marketed, sold and scaled.

  • Managing Corporate Turnarounds

    Explore the management issues that arise when a firm needs to embark on radical change to ensure its survival. The focus is on the development and, above all, implementation of strategies for companies in financial distress.


    Lecturer: Rupert Merson and Michael G Jacobides

  • Pathways to Start-up Success

    Develop the skills and mind-set to build successful entrepreneurial ventures. Gain the tools to navigate key entrepreneurial challenges while analysing the reasons for launching a business and choosing who joins the core founding team. Explore pathways to start-up success for companies facing high levels of uncertainty and limited financial resources.


    Lecturer: Gary Dushnitsky

  • Strategy for MiFs

    Learn how to evaluate businesses and transactions from a strategic viewpoint. The course covers business strategy issues such as competitive forces in the industry, strategic positioning and the resources and capabilities needed to compete.


    Lecturer: Ioannis Ioannou

Other

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