LBS logo London experience. World impact.

You choose three from a selection of around 40 elective subjects to tailor your learning experience and explore areas of interest in real depth.

 

Electives draw on the quality, depth and breadth of world-class faculty research. You choose the subjects that map most closely to your interests and learning objectives, and because the elective programme is offered across the full suite of LBS degree programmes, you have the opportunity to learn alongside other students from our MFA, MBA, MiF and leadership programmes – the benefit of learning alongside these students is that you get exposure to their real-world experience. You learn as equals alongside people who bring years of insight to the experience.

 

Expand your network, build a wealth of knowledge and flesh out your professional development.

 

Accounting

  • Financial Statement Analysis

    Lecturer: Shivakumar Lakshmanan and Art Kraft


    Learn how to meaningfully interpret financial reports, construct measures of financial performance and analyse the reporting choices made by companies.
    Financial reports are the primary means by which managers communicate company results to investors, creditors and analysts. They are used to judge company performance, assess creditworthiness, predict future financial performance, and analyse possible acquisitions and take-overs.

  • Advanced Financial Statement Analysis

    Lecturer: Eli Amir


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

Economics

  • European Financial Markets

    Lecturer:  Richard Portes


    Explore the world's leading case of economic integration – The European Union. Since 1990, it has been progressing towards an integrated financial area, culminating in monetary union (EMU). Get answers to questions like:


    • 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?
    • Will the European banking sector experience a deep wave of cross-border restructurings?
    • Will European securities exchanges merge – or disappear?
  • Global Capital Markets and Currencies

    Lecturer: Hélène Rey


    Obtain tools for assessing the impact of economic policy shocks and financial disturbances on financial markets, exchange rates, and capital flows.
    This elective is perfect for you if you have career interests in investment analysis, asset management, capital markets, hedge funds, corporate finance and the finance/treasury function of corporates. It would also suit you if you are seeking further understanding of the international macroeconomy.

  • World Economy: Problems and Prospects

    Lecturers: Lucrezia Reichlin, Elias Papioannou, Paolo Surico, Andrew Scott and Vania Stavrakeva


    Deepen your understanding of the way the global economy is evolving by considering current topical issues.


    Gain further experience in economic analysis and develop knowledge of what the global economic environment is likely to be five years after graduating.


    Understand the likely behaviour of financial markets and the general business background as well as the issues facing governments in their policy choices.


    If you are seeking a career in finance, international consulting or have a general interest in global issues this is the elective for you.

Finance

  • Advanced Corporate Finance

    Lecturers: Alexander Guembel


    Discover how to apply the theoretical concepts covered in other finance courses to real-world corporate finance problems. Through cases and discussion of topical issues learn how to fill the gap between rigorous finance theory and its application to practical problems.

  • Behavioural Finance

    Lecturer: Samuli Knupfer

    Get a foundation in the two building blocks of behavioural finance:

    Limits to arbitrage – a response to the classic critique of behavioural finance that states irrational traders cannot have a long term impact on financial markets because rational traders will always reverse any dislocations through arbitrage.

    Psychology – understand the most common kinds of errors made by decision-makers through the psychology side of this elective.

  • Credit Risk

    Lecturer: Stephen Schaefer


    Develop an in-depth understanding of credit risk and credit derivatives, with a focus on modelling and valuation. Understand the balance between developing a conceptual framework and market understanding and insight. Learn about topics including: historical default experience and recovery rates, applications of structural models and default-intensity models of credit risk and credit spread options.


  • Equity Investment Management

    Lecturer: Stephen Schaefer


    Develop an in-depth understanding of credit risk and credit derivatives, with a focus on modelling and valuation. Understand the balance between developing a conceptual framework and market understanding and insight. Learn about topics including: historical default experience and recovery rates, applications of structural models and default-intensity models of credit risk and credit spread options.

  • Financial Engineering and Risk Management

    Lecturer: Suleyman Basak

    Gain the necessary skills to value and hedge a wide variety of derivative contracts. Take a systematic, unified approach to the pricing of derivatives and adopt cutting-edge methods throughout. Continuous-time mathematics is used as the main tool of analysis. The course is necessarily quantitative and symbolically oriented, although practical applications are emphasised.

  • Fixed Income Securities

    Lecturer: Suleyman Basak

    Undertake a rigorous study of fixed income securities on this quantitative course, which requires some background in calculus and statistics.

    Learn how to manage interest rate risk, how to value securities with cash flows that are sensitive to movements in interest rates and how to determine the optimal exercise policy for a variety of embedded options in fixed income securities. On the course you take the viewpoint of a bond investor or trader, but the course is equally valuable for those working in corporate finance who need to understand similar material.

  • Project and Infrastructure Finance

    Lecturer: Karl Lins


    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.

  • International Finance

    Lecturer: Christian Heyerdahl-Larsen


    Gain an integrated view of international financial markets and the management of multinational firms, with a focus on the markets for spot exchange, currency forwards, options, swaps, international bonds and international equities. Study the valuation of instruments traded in these markets. 

     
    Understand the application of these instruments to exchange rate and country risk, financing in international capital markets, and international capital budgeting in the presence of multiple currencies, international tax regulations and sovereign risk.

  • Real Estate Finance

    Lecturer: Joao Cocco


    Gain the concepts and tools you need to understand real estate markets and manage 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.

Management Science and Operations

  • Energy: Markets, Models & Strategies

    Lecturer: Derek Bunn

    Get an introduction to the basics of power system economics, a review of the structural and strategic changes affecting the industry, investment issues and technology choice, 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 is also relevant to students wishing to be familiar with related issues affecting the oil and gas industry.

  • Financial Modelling

    Lecturer: Victor DeMiguel

    Harness the potential of business modelling in assisting management decision-making. 


    Practical computer workshops and modelling projects aim to increase capability in the use of key modelling tools such as advanced spreadsheets and intelligent systems software. Such business modelling skills are regarded as essential by the leading financial and management consultancy firms.

  • Managing Sport and Entertainment

    Lecturer: Chris Voss

    Develop skills and understanding of the strategic, operational and marketing management of sport and entertainment. Enhance your strategic and operational thinking in this rapidly professionalising industry and unlock a potential source of future economic growth.

    The business, product and service concepts developed in this class can be pursued further in other entrepreneurship electives.

  • Supply Chain Management

    Lecturer: Jérémie Gallien

    Understand how to develop and manage efficient and effective global supply chains. In today's globally competitive environment, it is no longer companies but supply chains that compete with each other.

    Leading companies such as Wal-Mart, Procter & Gamble, Dell, Amazon, Zara, GSK, IKEA, Deutsche Post/DHL, as well as highly profitable niche players, use supply chain management in their quest for global market leadership.

    Supply chain management is a cross-functional, cross-company initiative whether working in finance, accounting, marketing, sales or operations. Introduce and familiarise yourself with the concepts and skills necessary for supply chain management as a consultant, analyst or manager.

Marketing

  • Brand Management

    Lecturer: Simona Botti

    Take one of the most applied and advanced brand management courses available anywhere in the world – a vital topic for any MBA.

    Rather than focusing on academic theory, take an extremely managerial viewpoint. Explore all dimensions of brand management, from defining brands, brand building strategies, brand architecture and extension issues to brand repositioning.
    The course focus ranges from small start-up brands, consumer brands, service brands and B2B brands.

    The course is run as an intensive block week course, and includes a variety of teaching methods including guest speakers who are senior branding experts currently engaged in branding issues.

  • Pricing Strategy

    Lecturer: Oded Koenigsberg

    Equip yourself with the fundamental tools and conceptual frameworks needed for making profitable pricing decisions across diverse industries.

    Taking the perspective of the marketing manager, explore both the strategic and tactical dimensions that underlie the process of price management and gain a grasp of useful theories and practical approaches for solving pricing problems.

    While the emphasis is on pricing, this is not 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.

Strategy and Entrepreneurship

  • Achieving Strategic Agility

    Lecturer: Julian Birkinshaw


    Learn how to craft strategy when the future is uncertain, fast-changing and unknowable to meet the need for strategic agility to adapt quickly in the face of ever changing market conditions.


    Discover how to structure companies to be more agile and engage and motivate employees across an organisation to help identify and act on opportunities.

  • Advanced Competitive Strategy

    Lecturer: Sendil Ethiraj


    Build a rigorous, analytical, and quantitatively grounded understanding of strategic management by learning strategy from the perspective of a strategist as an integrator on this course.


    An integrator has a good understanding of the different functions in an organisation, how they relate together, and how to effect changes in the organisation that tighten both internal and external consistency.


    This course builds on the foundation you built in your strategy core course - internal and external consistency in choices inherent in a firm’s business model is at the heart of competitive advantage.

  • Strategic Innovation

    Lecturer: Costas Markides


    Develop an understanding of how a company can discover a new business model and how it can successfully migrate from its current position to the new.

    Explore why established companies find it so difficult to innovate strategically and what they can do to improve the odds of success.

    Gain an understanding of the circumstances where it makes sense for established companies to strategically innovate.

  • Strategies for Growth

    Lecturer: Freek Vermeulen

    Get answers to the question that keeps most 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 managers organise their companies to achieve continuous, organic growth.

    Examine the firm's formal strategic choices, its internal organisational environment, the process of growth, and the role of historical accident and the background and personality of the managers involved.

    You will learn how, as a manager, you can shape your organisation to deliberately manage and control the growth process of the firm.

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