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Core courses

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 11 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, Financial Institutions and Personal Finance); and Data and Time Series Analytics.

  • Accounting

    Analysis of Financial Statements
    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 12 sessions, this course gives you the skills necessary to read and analyse company financial information.

    Securities, Valuation and Financial Modelling
    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 complete with the ability to apply fundamental security analysis and valuation.

  • Corporate Finance

    Corporate Finance
    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.

    Capital Structure
    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.

  • Asset Management

    Asset Management
    Combining analytical tools and financial theory, these two courses in Autumn and Spring will teach you how to make good investment decisions. With these highly quantitative courses, you will develop a solid foundation in the fundamentals of asset valuation and asset management. These courses will cover multiple asset classes such as equities, government and corporate bonds, derivatives and commodities. You will get 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.

    Advanced Asset Management

    The field of investment has been characterized by a high rate of innovation, in both the academic and practitioner communities. Often, innovations are built on investment theory that, once understood, also makes good sense. The course will emphasize topics where research provides an important message for a professional asset manager and how this can be applied. You will begin to consider how to allocate wealth into different asset classes and investment strategies. We discuss the contribution of fixed income in equity portfolios and the role of alternative investments. A particular emphasis is on long-term investing with a coherent modelling of assets and liabilities and performance evaluation. The course will cover recent developments of more complex investment products and compare and contrast them with traditional fund structures including the limits to arbitrage and the costs of implementing actual trading strategies.

  • Financial Markets

    World Economy
    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. Complete this course with an understanding of institutional and theoretical frameworks.

    Financial Institutions
    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.

    Personal Finance
    Understand and analyse the financial decisions that individuals make in their lifetime with this course. 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.

  • Data and Time Series Analytics

    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.

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Tel: +44 (0)20 7000 7515

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