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Introduction to Advanced Finance
040175; Thursday: 08:00am – 10:00am (J2)


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Date File Comment

Course Information

Semester: Winter Term 2017/2018
Term: entire semester
Course Number: 040175
Lecturer: Prof. Dr. Nadja Guenster
Daniel Brodback, M.Sc.
Christian Dreyer, M.Sc.
Contact Persons: Christian Dreyer, M.Sc.
Room: J2
Dates: Thursday: 08:00am – 10:00am, J2
Language: English
Credits: 3
Semester hours: 2
Module(s): FCM01: Introduction to Finance (english) - Master of Science 'Betriebswirtschaftslehre' (PO 2010)

Description / Main Topics
The course provides an overview of the main concepts in finance. The class mainly focuses on investment topics, but also comprises fundamentals of corporate finance. The investment part contains, for example, foundations of the investment environment and process, the relation between risk and return, Markowitz portfolio optimization, the Capital Asset Pricing Model and its extensions (theoretical derivations and empirical tests). The corporate finance part focuses on optimal capital structure choices and a valuation case.

Learning Outcomes
The students are familiar with the main concepts in finance. They can associate current problems with the relevant context and analyze them in a structured manner. Students obtain a thorough understanding of the different topics in finance as preparation for more advanced classes of the program. Therefore, they possess the ability to connect the different fields of finance with each other. Furthermore, they are familiar with the (statistical and mathematical) tools which are frequently used.

Besides, the students complete case studies in small teams, which will also be presented. In this process, they practice their team-work, academic writing skills, and presentation skills.

Course Assessment
Final exam (120 min.): 80% (120 points) Two Case studies (altogether): 20% (15 points each) Note: The points obtained from the case studies only count for the exam in this term and a possible resit exam in the summer term 2018. They cannot be transferred to the next winter term. Please note that points obtained in the case studies during the winter term 2016/17 cannot be transferred to the current term.

Prerequisites for this course are a basic knowledge about financial topics as provided in bachelor finance courses at the University of Muenster or in the textbook “Principles of Corporate Finance”, 9th edition, by Brealey, Myers and Allen. For further information on the prerequisites (in particular for those students who did not obtain their bachelor degree in business administration in Münster), visit the FCM master webpage.

The course consists of lectures and tutorials which are both relevant for passing the exam. The course will run the complete semester to give students with weaker backgrounds more time to catch up. An exact schedule will be provided in the first lecture in October. The exam will take place in February. The refreshment tutorial covers the main concepts from mathematics, statistics, and bachelor finance courses this course builds on. It does not discuss further topics but is meant as a brief recap of the prerequisites.

Reading Material Bodie, Kane, Marcus: Investments; 10th ed., McGraw-Hill, 2014. Berk, DeMarzo: Corporate Finance; 4th ed., Pearson, 2016. Further literature will be announced during the course.

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