Kenntnisse in der Mikroökonomie vertiefen und anzuwenden. Das Modul beschäftigt sich mit den Themen der Produktionstheorie, Wettbewerbstheorie, Spieltheorie und Theorie der Auktionen.

Interaktive Vorlesung mit Übungen

• Die Studierenden können die Wirkungsweise unvollständiger Märkte beschreiben.
• Sie unterscheiden zwischen kurz- und langfristigen Gleichgewichten bei monopolitischen Märkten.
• Sie kennen und verstehen die Wirkung von Externalitäten und anderen Marktunvollkommenheiten.
• Sie kennen und verstehen die Grundkonzepte der Spieltheorie und Auktionstheori

Beschreibende Statistik
Wahrscheinlichkeitsrechnung
Schliessende Statistik

Interaktive Vorlesung mit Anwendungen und Übung

Am Ende des Moduls kennen die Studierenden die zentralen statistischen Techniken, welche in vielen wirtschaftlichen Anwendungen eingesetzt werden. Sie können die behandelten Konzepte zielgerichtet anwenden, die so gewonnenen Resultate im Kontext deuten, statistische Aussagen korrekt formulieren bzw. deren Relevanz kritisch hinterfragen.
Die Studierenden bauen Fähigkeiten auf, in einem wissenschaftlichen Umfeld rational zu argumentieren. Ausserdem üben sie, übliche Lern- und Arbeitstechniken auf abstrakte Inhalte anzuwenden, so dass sie an die selbstständige Erarbeitung von Wissen aus wissenschaftlichen Publikationen herangeführt werden.

Teil Internationale Rechnungslegung

• Konzernrechnungslegung nach PGR
• Grundlagen der Internationalen Rechnungslegung (IRFS) und Einzelabschluss
• Konzernabschluss nach IRFS

Teil Analyse, Bilanzierung

• Bilanzpolitik
• Grundlagen der Bilanzanalyse
• Aufbereitungsmassnahmen des Jahresabschlusses (der Jahresrechnung)
• Kennzahlen der traditionellen Bilanzanalyse
• Kennzahlen der finanzwirtschaftlichen Bilanzanalyse
• Kennzahlen aus der Erfolgsrechnung
• Technik der Bilanzanalyse an konkreten Beispielen
• Aufbau und Vergleich verschiedener Kennzahlensysteme
• Fallstudie zur Bilanzanalyse

Interaktive Vorlesungen mit Übungen, Fallstudie (Gruppenarbeit)

Am Ende des Moduls Internationale Rechnungslegung / Analyse kennen die Studierenden die notwendigen Arbeitstechniken im Zusammenhang mit der Internationalen Rechnungslegung sowie der Bilanzanalyse und -auswertung. Die Internationale Rechnungslegung stellt einen weiteren Aspekt der externen Rechnungslegung dar. Aufgrund der verpflichtenden Erstellung von Konzernabschlüssen nach internationalen Rechnungslegungsvorschriften in der Europäischen Union ist auch die Analyse daran zu orientieren.

Den Studierenden sind die Grundlagen der Konzernrechnungslegung bekannt und sie können selbständig einen einfachen Konzernabschluss durchführen (inklusive aller notwendigen Konsolidierungsschritte).

Die Studierenden sind in der Lage, selbständig Einzelabschlüsse sowie Konzernabschlüsse für die Bilanzanalyse aufzubereiten und entsprechend zu analysieren. Sie ermitteln die einzelnen Unternehmenskennzahlen sowie gesamte Kennzahlensysteme und können diese auswerten.

Im Modul Internationale Rechnungslegung / Analyse üben die Studierenden, gängige Lern- und Arbeitstechniken auf abstrakte Inhalte anzuwenden, so dass sie an die selbständige Erarbeitung von Wissen aus Lehrbüchern und sonstigen einschlägigen wissenschaftlichen Publikationen herangeführt werden.

Die Studierenden üben in der Kontaktzeit des Moduls das fristgerechte und vollständige Erledigen von Aufgabenstellungen (zB Erstellung eines Konzernabschlusses, zusammenfassende Interpretation der einzelnen Teilergebnisse eines Kennzahlensystems). Durch die eigenständige Vor- und Nachbereitung des Lernstoffes (im Selbststudium) lernen die Studierenden, ihre eigenen zeitlichen Ressourcen dem Schwierigkeitsgrad der jeweiligen Aufgabenstellungen entsprechend einzuteilen.

Die Fallstudie "Bilanzanalyse" trägt massgeblich zur Vertiefung der Kenntnisse in der Bilanzanalyse bei.

Zusätzlich lernen die Studierenden - insbesondere im Rahmen der Jahresabschlussanalyse - Wichtiges von Unwichtigem zu unterscheiden, vor allem durch die eigenständige Auswahl geeigneter Kennzahlen für die Unternehmensanalyse.

• Structuring of assets by independent legal entities
• (National and international law of inheritance and marriage property law, asset protection, business purchase and succession)
• Professional law pertaining to Liechtenstein trustees including supervisory law, law of due diligence, private liability law and criminal responsibility
• Soft skills pertaining to appropriate practices in various realistic business situations

Interactive lecture with case-studies;
First, the topic areas mentioned are dealt with in an interactive lecture style, e.g. presentation of the fundamentals by ex-cathedra teaching supplemented by practice exercises and case examples. Subsequently, on the basis of more complex case studies, the students are requested to develop solutions in groups, where applicable, and to present them (possibly through role play). Their practical applicability is then evaluated by the plenum augmented by moderation and supplementary observations.

After completion of the module, the participants are familiar with the essential legal implications in connection with asset structuring for customers and are able to identify them as problems in fact patterns.
The students are familiar with the professional legal parameters of trustee activity in Liechtenstein and are able to assess the legal ramifications of their own practices of communication with government agencies and customers.

The following conditions need to be met prior to registering for the module exam:

• successful completion of all first year full-time programme modules

Additionallly:
For students who started their studies in 2008:

• succesful completion of the module "Communication in English for Business"

or, alternatively,

• BEC II certificate

For students starting their studies in 2009:

• succesful completion of the module "Communication in English for Business"

• National and international taxation of individuals and companies in Liechtenstein, Austria, Germany and Switzerland
• International taxation of different legal forms of business organisation: permanent establishments, partnerships and companies
• Comparative analysis of corporate income tax systems
• European tax law
• International tax planning: International taxation of companies
• Tax Accounting: Determination and reduction of effective tax rates
• National and international taxation of financial instruments

Interactive lecture with case-studies

After finishing the module, the students have comprehensive knowledge in national and international taxation regarding the taxation of individuals and companies, especially in Liechtenstein, Austria, Germany and Switzerland.
The students have comprehensive knowledge of the differences concerning the international taxation of various legal forms of business organisation, both inbound and outbound.
The students are familiar with the different corporate income tax systems in Liechtenstein, Austria, Germany, Switzerland and other EU and EEA member states. They analyse and evaluate their impact on tax burden of internationally operating companies.
The students have comprehensive knowledge of the basic principles in European tax law. They are familiar with the impact of European integration on international taxation of individuals and companies. In particular, they take into account the recent jurisdiction of the European Court of Justice and the EFTA-Court.
The students analyse the various possibilities and restrictions of national and international tax planning measures regarding internationally operating companies. They verify the reduction of tax burden as a result of token measures.
The students are familiar with the components determining effective tax rates (ETR) of companies and groups and analyse essential possibilities to reduce them. In particular, they evaluate the meaning and the impact of deferred taxes for the determination and the reduction of ETR.
The students have comprehensive knowledge of the basic principles of international taxation of financial instruments.

The following conditions need to be met prior to registering for the module exam:

• successful completion of all first year full-time programme modules

Additionallly:
For students who started their studies in 2008:

• succesful completion of the module "Communication in English for Business"

or, alternatively,

• BEC II certificate

For students starting their studies in 2009:

• succesful completion of the module "Communication in English for Business"

• Basics, tasks and characteristics of international marketing
• The international marketing environment: relevance and consequences of cultural differences and diverging economic, political, and legal conditions
• International market research and country risk assessment
• Fundamental strategies of foreign market entry and development
• Planning process of international market entry and market development (international strategy, international market selection and segmentation, alternative entry modes, timing, etc.)
• Export marketing mix versus global marketing mix (product adaptation, international product development, management of international product life cycles, global products and services, branding, export pricing, price strategies on the world market, global communication, management of international distribution channels, international marketing logistics)

Interactive lecture with discussion, exercises, and case studies

After the course the students will understand the characteristic challenges of international market entry and market development. They will be able to identify and assess opportunities and risks of international operations. For this purpose the students know where to find appropriate sources of information about foreign country markets and cultures and how to use this information in order to select profitable international markets. The students learn to evaluate trade-offs between a firm's adaptation to local needs and a global approach.
With the case study method, course participants learn to combine theory and practice and to apply specialized knowledge and methods to business settings. As the course is in English, language skills will be improved. Moreover, presentation techniques and teamwork are enhanced. Teamwork brings benefit in terms of social competence.

The following conditions need to be met prior to registering for the module exam:

• successful completion of all first year full-time programme modules

Additionallly:
For students who started their studies in 2008:

• succesful completion of the module "Communication in English for Business"

or, alternatively,

• BEC II certificate

For students starting their studies in 2009:

• succesful completion of the module "Communication in English for Business"

• 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

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.

• Written examination with 120 minutes editing time
• Term paper
• Presentation
• Obligatory class participation

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

• Leadership Styles
• Significance of Power
• Motivation Approaches
• Techniques for Conducting Negotiations
• Analysis of Body Language
• Analysis Instruments and their Application
• Reaction to Change of Framework Conditions
• 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 command essential abilities regarding corporate governance and are familiar with vital principles of strategic management. They integrate various leadership styles in their dealings and are knowledgeable concerning the management of employees and business development. They are able to conduct negotiations to their advantage by expertly representing their standpoints, by communicating the correct body language and by correctly interpreting the body language of their negotiating partner.
Additionally, they are familiar with the prevalent and current insights on strategic management, in particular in the area of financial services. They apply differentiated strategies to various business segments of a financial services undertaking, but are also familiar with the coherencies and interaction between differing sectors.

• Written examination with 60 minutes editing time
• Assignment with presentation
• Obligatory class participation

Web-based online evaluation upon completion of module