Kapitalwertorientiertes Denken
Grundsätze der Finanzwirtschaft
Statistik der Finanzmärkte
Internationale Finanzmärkte
Regulierung der Finanzmärkte
Law, Compliance und Ethik
International Economics
Crossborder Investments

• Strategic, Dynamic and Tactical Asset Allocation
• Active Portfolio Management
• Asset Allocation, Investment Horizon and Risk Measurement
• Performance Measurement and Output Evaluation
• Discussion of the Methods of Individual Selected Journal Contributions
• Introduction to Life Insurance, Occupational Pensions and Pension Funds
• The Role of Life Insurance in Estate Planning
• Location Advantages in Liechtenstein for the Life Insurance and Pension Fund Market
• Selected Annually Changing Theoretical Questions on Wealth Management
• Role of Term Structure in Asset Allocation
• Relationship between the Real Economy and Financial Markets
• Currency Regimes and International Diversification Exchange Rate Risks in Asset Management Protection Management
• Resampling to address parameter uncertainty and time-horizon effects in portfolio management
• Planning and sequential decision making under uncertainty and Merton Framework
• Scenario representation and scenario optimization modelling in GAMS

Interactive lecture, exercises, seminar

After completion of the module, the students have at their disposal comprehensive and integrated knowledge of most core issues in wealth management and have a critical understanding of the majority of the utilised procedures and methods. They have at their command specialised knowledge of professional methods for processing data and illustrating it in a well-structured manner. They are able to show originality and creativity in the application of their knowledge and take into consideration scientific and ethical issues in the face of incomplete information. The students are able to communicate on the subject of wealth management with experts and laities and thus reflect and enlarge upon their knowledge and methods. andidates understand the fundamental difference between one-period and multi-period decision problems and how to model real-life optimization task. Those who have followed the course will be able to formulate and solve optimization problems in GAMS.

• Written examination with 120 minutes editing time (60%)
• Term paper (30%)
• Presentation (10%)
• Obligatory class participation

Web-based online evaluation upon completion of module

• Definition and forms of sustainable investments
• Legal framework of sustainable investments - advantages/disadvantages
• Sustainable market and performance overview with trends and outlook
• Introduction to the worlds of real estate and property development, investment, finance, marketing and management
• Familiarity with the conceptual frameworks, practical tools and language
• Definition of real estate is an important asset
• Introduction to Life Insurance, Occupational Pensions and Pension Funds
• The Role of Life Insurance in Estate Planning
• Location Advantages in Liechtenstein for the Life Insurance and Pension Fund Market

Interactive lecture

After completion of the module, the students have at their disposal comprehensive and integrated knowledge of a core issues in alternative wealth management covering sustainable investments, real estate and private insurance structures and have a critical understanding of the majority of the utilised procedures and methods. They have at their command specialised knowledge of professional methods for measuring and identifying such investments. They are able to show originality and creativity in the application of their knowledge and take into consideration scientific and ethical issues in the face of incomplete information. The students are able to communicate on the subject of sustainable wealth management with experts and laity and thus reflect and enlarge upon their knowledge and methods.

• Written examination with 60 minutes editing time (40%)
• Assignment (additional presentation may apply) (40%)
• Presentation (20%)
• Obligatory class participation

Web-based online evaluation upon completion of module

• National, International and European Company Law in the Private Banking industry
• National, International and European Taxation of Asset Structures and of Financial
• Instruments in the Private Banking industry
• Critical Observation of Competitors
• Strategic Concepts and their Application
• Dealing with Bank-Specific Controlling Instruments and Information Media
• Result Effect of Risks, Structuring of Conditions, Balance Sheet Structure, Market Interest
• Methods, Capital Resources Requirement and Differing Economic Scenarios

Interactive lecture, exercises

After completion of the module, the students have at their disposal comprehensive and integrated knowledge of most core issues in International Company Law and International Taxation of Asset Structures and of Financial Instruments and have a critical understanding of the majority of the utilised procedures and methods. Furthermore, they have a solid knowledge about the current trends and developments in the Private Banking industry. Students are able to utilize taxation instruments in the field of Private Banking. They have at their command specialised knowledge of professional methods for processing data and illustrating it in a well-structured manner. They are able to show originality and creativity in the application of their knowledge and take into consideration scientific and ethical issues in the face of incomplete information. The students are able to communicate on the subject of International Company Law and International Taxation with experts and laity and thus reflect and enlarge upon their knowledge and methods.

• Written examination with 120 minutes editing time (75%)
• Assignment (10%)
• Presentation (15%)
• Obligatory class participation

Web-based online evaluation upon completion of module

• Recognising problems and analysing various topics in the area of financial services
• Handling ambitious practical problems in financial services like consulting projects and real portfolio management
• Developing customer-specific solutions
• Communicating with project client
• Presenting the final project report
• Working in a team in a project-oriented manner
• Mastering a portfolio under the supervision of a portfolio manager
• Working up all relevant information and data for portfolio management
• Structuring the strategic and tactical asset allocation
• Deciding on security selection

Seminar

After completion of the module, the students have at their disposal practical experiences in handling a consulting project in the area of banking and finance. In the course of the assignment, they utilize a range of advanced procedures and techniques incorporated in the discipline and apply theoretical insights to practical solutions, so that they are directly prepared for their professional life. Students develop original and creative answers for topics and problems and are able to evaluate the situation even without complete information. They are able to reflect and enlarge their knowledge and capabilities. In addition, they master professional project assignment and presentation techniques and are trained to function in a team. They are also able to assume responsibility within the team and to coordinate team assignments while taking into account the interest of the business.

• Assignment (depending on the project an additional presentation may apply) (100%)

Web-based online evaluation upon completion of module

• Identification of a research problem and development of a research question
• Thematically formulating a problem and developing a solution through application of scientific methods
• Independence in handling a research problem determined in the course of an assessment. Discussion with the advisor about methodological and content issues in solving a research topic.
• Completion of a comprehensive assignment where the students deal with a theoretical or practice-oriented problem in their area of specialisation by drawing on scientific work methods.
• Mid-term report about the current stage of the progress during the Colloquium.
• Completion of presentation documentation on a research problem within their specialised area.
• Defense of the elaborated research topic and in-depth discussion with the examination board.

• After completion of the module, the students have acquired a detailed knowledge and a critical understanding of their research topic.

• They have at their disposal specialised knowledge of methods and procedures for processing data and explaining it in a structured manner. They exhibit originality and creativity in the application of their knowledge.

• The students complete research and development projects, applying specialised research methods, survey and development techniques by drawing on their previously acquired skills.

• Additionally, they present the significant findings of their project to academic and real economy specialists, thereby utilising various communication methods in order to illustrate complex data on a scientific level.

• Upon positive evaluation of the thesis module the Master's degree is awarded to the candidate.

• Colloquium presentation (attendance at 2 Colloquium days obligatory)
• Evaluation of the written thesis paper
• Presentation and defense in front of the examination board

Web-based online evaluation upon completion of module

Further information and material for this module:

Guidelines on the Master Thesis Process
Regulations and Guidelines

• Profitability Analysis
• Planning and Monitoring of Target Figures in Profitability Management
• Introduction to Risk Management
• Change in Interest Rates Risk Management
• Credit Risk Management
• Application of Strategy Concepts
• Simulation of Banking Business
• Dealing with Changing Framework Conditions

Interactive lecture, exercises, computer based business game

After completion of the module, participants recognise the characteristics and terminology of comprehensive banking management. They are able to apply the corresponding concepts in a target- and problem-oriented manner, to analyse the economic and political environment of a bank and to react appropriately to changes in framework conditions.

They are additionally able to apply their knowledge in new and unfamiliar situations and to deal with limited information.

They supply solutions on professional issues and manifest competence in dealing with competitors and colleagues.

• Written examination with 90 minutes editing time (70%)
• Assignment (30%)
• Obligatory class participation

Web-based online evaluation upon completion of module

International Accounting
> Basics of tax accounting
> Deferred Taxes: Deferred tax liabilities and deferred tax assets
> Tax accounting process
> Effective tax rate and tax reconciliation

The Economics of Taxation
> Theory of Optimal Taxation
> Taxation and Saving Decisions
> Taxation and Investment Decisions
> Taxes and Capital Structure

Interactive lecture, case studies.

The module International Accounting and Taxation introduces the issues of deferred taxes and an effective tax rate. Deferred taxes mean a future tax liability or asset, resulting from temporary differences between the accounting value of assets and liabilities and their value for tax purposes. Deferred taxes are used to calculate the effective tax rate, which shows the effective tax burden of a group of affiliated companies. After completion of the course on International Accounting, the students have at their disposal comprehensive knowledge of deferred taxes and the effective tax rate.

The course of International Taxation provides a comprehensive understanding of the impact of taxation on saving and investment decisions as well as the impact on capital structures. After completion of the course, the students are familiar with the fundamentals of the economics of taxation to the extent that they can explain the influence of taxation on investment and financing decisions.

The lecture materials, legal foundations, accounting standards and illustrations of facts relating to the exercises as well as possible further materials including selected literature are available on the Hochschulforum. Additionally, all the recommended literature is accessible at the library.

1 written exam with 90 minutes editing time (80% of module grade)
1 presentation (20% of module grade)

Web-based online evaluation upon completion of module.

Extracurriculare Activities comprise of various activities that are not linked to the Curriculum of the MSc in Banking and Financial Management, which are optional and further support the studying of the Master programme.

• Instruments on the Futures Market: Forwards, Futures, Options and Swaps
• Significance of Yield Curve
• Evaluation of Forwards, Futures and Swaps
• Characteristics of Option Prices
• Evaluation of Options According to Black/Scholes and Binomial Model
• Derivative Elements in Structured Products
• Greeks and Volatility Smiles
• Exotic Options
• Selected Aspects of Risk Management (e.g. Value at Risk, Backtesting, Stress Testing)
• Hedging Strategies
• Financial Engineering of Various Finance Instruments
• Operational Risks

Interactive lectures with exercises

After completion of the module, the students recognise the most significant derivative instruments and the particularities of financial engineering. They have at their disposal comprehensive knowledge of the significant principles governing determination and evaluation of derivatives and are able to mirror the current stage of research on financial engineering.

Additionally, they master advanced hedging procedures, which they apply in a target-oriented manner in the areas of risk management. Because of their acquired specialised knowledge, they are able to meet complicated challenges in financial engineering. They are also able to identify and conceptualise abstract problems, such as the preparation of a special risk-profit profile and handle Operational risk.

• Utilising and identifying financial instruments and their application in practice
• Taking into consideration the yield curve in the evaluation of derivatives and relating to it
• Differentiating valuation approaches for forwards, futures, swaps and options as well as exotic options.
• Explaining the use of Greeks and volatility smiles
• Illustrating the fundamentals of risk management
• Contrasting special risk management concepts
• Developing and examining hedging strategies as a means of risk reduction
• Analysing financial engineering for various financial instruments
• Coping with Operational risk

• Written examination with 80 minutes editing time
• Assignment

Web-based online evaluation upon completion of module