Courses

Core Courses

EF 501 Microeconomics
Credits:
(3+0+0) 3
  • Consumer and firm behaviour under certainty and uncertainty
  • General equilibrium analysis in complete and incomplete markets
  • Fundametals of game theory
  • Economics of asymmetric information
EF 502 Financial Markets
Credits:
(3+0+0) 3
  • Domestic and international financial markets
  • The structure, organization, and regulation of banking sector, money markets, stock markets, bond markets, futures and options markets, insurance markets, foreign exchange markets, and international asset markets
EF 503 Open Economy Macroeconomics
Credits:
(3+0+0) 3
  • Basic theories of international trade
  • Instruments of trade policy
  • Fixed and floating exchange rate models
  • The international monetary system
  • International capital markets
  • Emerging financial markets
  • Capital flows and financial crisis
EF 505 Theory of Finance
Credits:
(3+0+0) 3
  • Static and dynamic finance theory
  • Risk and arbitrage
  • Portfolio analysis
  • Asset pricing models
  • Intertemporal models of finance
  • Derivative pricing
EF 506 Corporate Finance
Credits:
(3+0+0) 3
  • Principles of corporate finance
  • Analysis of investment decisions
  • Capital budgeting and risk
  • Instruments of capital financing
  • Dividend policy, debt policy, and capital structure
  • Analysis of financial performance
  • Financial planning
  • Mergers and acquisions
  • International financial management
EF 507 Quantitative Methods for Economics and Finance
Credits:
(3+0+0) 3
  • Fundamental quantitative techniques for economic and financial analysis
  • Difference and differential equations
  • Static and dynamic optimization
  • Basic tools of linear algebra
  • Elements of statistical analysis
  • Statistical analysis
EF 508 Macro and Financial Econometrics
Credits:
(3+0+0)
  • Basic econometric techniques
  • Time series econometrics for econometrics and finance
  • Analysis of expectations in macro and financial models
  • Conditional variance models
  • Econometrics for real business cycle models

 

Elective Courses

EF 550 Decision Models for Economics and Finance
Credits:
(3+0+0)
  • Principles of strategic decision-making and its applications
  • Analysis of static and dynamic games under complete and incomplete information
  • Applications from economics and finance
  • Market games and strategic trading, negotiating, contracting, bidding and auctions, network models 
EF 551 Financial Intermediaries
Credits:
(3+0+0)
  • The analysis of financial intermediaries (banks, brokers, mutual funds, and pension funds)
  • Regulation of financial intermediaries 
  • Debt renegotiation and bankruptcy resolution
  • Procedures under asymmetric information 

 

EF 552 International Financial Markets
Credits:
(3+0+0)
  • The globalization of financial markets
  • Banking in Europe and the USA in a historical perspective
  • Structure of global debt and equity markets
  • European Monetary Union and its impact on financial markets 
  • Regulatory issues in the global financial system  
EF 553 Industrial Organization for Financial Markets
Credits:
(3+0+0)
  • Models of industrial organization for analyzing financial market structures
  • Perfect competition, contestable monopoly, monopolistic competition, and oligopolistic competition
  • Location models; measures of market concentration
  • Analysis of mergers and acquisitions
  • The impact of information technology and financial product innovation on financial market structure
  • Empirical and topical case studies related to structure of financial markets.
EF 554 Competition Policy and Regulation of Financial Markets
Credits:
(3+0+0)
  • The economic impacts of competition and regulation policies on financial markets
  • Policies against collusion, vertical restraints, and anti-competitive mergers in financial markets
  • Economic and institutional issues related to regulatory policy in financial markets
  • Empirical assessment of competition and regulatory policies.
EF 555 Valuation and Securities Analysis
Credits:
(3+0+0)
  • Theory and application of security analysis and valuation
  • Financial analysis for security valuation
  • Determination of security prices
  • Fundamental and technical analysis
  • Empirical assessment of returns to trading strategies based on financial analysis.
 
EF 556 Portfolio Management
Credits:
(3+0+0)
  • Management of portfolio risk
  • Diversification strategies
  • Transaction costs and trading strategies
  • Measurement of portfolio performance
  • Currency management for international investors
 
EF 557 Financial Risk Analysis and Management
Credits:
(3+0+0)
  • Techniques of financial risk assessment
  • Risk measurement for fixed income and derivative securities
  • Credit risk modeling
  • Risk adjusted capital allocation models, modelling of systematic and liquidity risk
EF 558 Derivatives
Credits:
(3+0+0)
  • Analysis of strategies employing derivative securities
  • Forwards, futures, options, swaps, hedging with derivatives
  • Techniques for pricing and measuring the risks of derivatives
  • Design of new financial securities
 
EF 559 Asset and Liability Management
Credits:
(3+0+0)
  • Measuring and managing interest rate risk
  • Techniques to measure financial risk
  • Value-at-risk, regression measures
  • The use of derivatives in asset and liability management
  • Options, interest rate futures, swaps, hedging
 
EF 560 Bank Management
Credits:
(3+0+0)
  • Management of depository financial intermediaries with emphasis on commercial banks
  • Bank regulation, liquidity and reserve position management, loan pricing and analysis, and investment portfolio problems
 
EF 561 Monetary Policy and Central Banking
Credits:
(3+0+0)
  • Objectives and instruments of the monetary policy employed by central banks
  • Price stability and optimal rate of inflation
  • Open market operations
  • Public debt management
  • The implications of capital account convertibility
 
EF 562 Advanced Corporate Finance
Credits:
(3+0+0)
  • Advanced topics and applications in corporate finance
  • Leasing, mergers and acquisitions, corporate reorganizations, financial planning and working capital management, pricing of selected financial instruments and corporate liabilities
 
EF 563 Strategic Management
Credits:
(3+0+0)
  • Overall management of firms in competitive environments
  • Interaction of financial and other decision making in a firm
  • Development and implementation of business strategy in a long-term  perspective
 
EF 564 Corporate Control and Governance
Credits:
(3+0+0)
  • Interaction between investor protection and firm-specific choices, including capital structure, internal controls, and executive compensation systems 
  • Features of corporate structure and control that minimizes the scope for expropriation by owners and minority shares

Directed Readings

EF 581 Directed Readings on the Structure of Financial Markets I
Credits:
(1+4+0)
  • Guided readings on different financial market structures in different countries
  • Supervised research on topics of special interest to the individual student

 

EF 582 Directed Readings on the Structure of Financial Markets II
Credits:
(1+4+0)
  • Guided readings on different financial market structures in different countries
  • Supervised research on topics of special interest to the individual student
EF 583 Directed Readings on the Structure Financial Markets III
Credits:
(1+4+0)
  • Guided readings on different financial market structures in different countries
  • Supervised research on topics of special interest to the individual student

Term Project

EF 591 Term Project I
Credits:
(0+2+0)
  • Directed research leading to a term paper on a topic of interest to the student, chosen with the approval of the advisor

 

EF 592 Term Project II
Credits:
(0+2+0)
  • Directed research leading to a term paper on a topic of interest to the student, chosen with the approval of the advisor
EF 593 Term Project III
Credits:
(0+2+0)
  • Directed research leading to a term paper on a topic of interest to the student, chosen with the approval of the advisor