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C15 Quantitative Finance

C15 Quantitative Finance

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
Quantitative Finance will cover:
  • Classical linear regression model assumptions and diagnostic tests
  • Expansions of the simple linear regression model to multiple linear regressions
  • Long-run relationships in finance
  • Models of time series volatility and covariances
  • Simulational methods in finance
  • Introduction to ThomsonReuters Eikon
Assessment Methods
See lectures within this module.
Class participation in "Data Sourcing and Analysis" is obligatory.
Module number:
4808077
Semester:
WS 19/20
ECTS Credits:
6
Courses:
58 L / 44 h
Self-study:
137 h
Language:
English
Scheduled Semester:
1

C15 Private Banking

C15 Private Banking

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
  • Fundamentals in Modern Banking;
  • Asset Liability Management;
  • Banking Regulation;
  • Services and Products in Private Banking;
  • Strategies in Private Banking.
Teaching Method
Interactive Lecture
Learning Results
  • Understanding Risks and Risk Management in Banking;
  • Applying management tools in Banking;
  • Applying various strategy concepts based on strategic analysis instruments to the commercial and private banking sector;
  • Investigating the issues of international regulation, global sector trends as well as the
question of generation change and strategies of specific competitors;
  • Recognising and critically scrutinising relevant topics or problem areas within the private
banking industry with the help of learnt analysis methods.
Assessment Methods
See lecture within the module.
Module number:
4808288
Semester:
WS 19/20
ECTS Credits:
3
Courses:
28 L / 21 h
Self-study:
69 h
Language:
English
Scheduled Semester:
3

C15 Pension Finance

C15 Pension Finance

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
Life-Cycle View of Personal Finance
Defined Benefit vs. Defined Contribution Plans
Instruments Typically Used in Pension Finance
Models for Integrating Financial Risks with Other Risks like Longevity Risk
Teaching Method
Interactive lecture with exercises
Learning Objectives
After completing this lecture, students have gained a solid background in financial decisions regarding longevity and retirement. They know how to combine valuation techniques from finance with those from actuarial mathematics, and understand the effects of longevity, bequest motive, and risk-return tradeoff on the corresponding choices made by individual investors.
Learning Results
Understand and apply life-cycle models of individual investors
Distinguish between DB and DC pension plans and understand their respective implications
Combine financial models with models for longevity risk
Select appropriate financial instruments for individual pension planning and justify this selection economically
Assessment Methods
See lecture within the module.
Examination
Grading will be based entirely on the final exam.
Module number:
4808114
Semester:
WS 19/20
ECTS Credits:
3
Courses:
28 L / 21 h
Self-study:
69 h
Language:
English
Scheduled Semester:
3

C15 Master's thesis

C15 Master's thesis

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
  • Identification of a research problem and development of a research questionThematically 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 field of specialisation by drawing on scientific work methods. Completion of presentation documentation on a research problem within their specialised - field. Defense of the elaborated research topic and in-depth discussion with the examination board.
Learning Results
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.
Furthermore, 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.
Assessment Methods
  • Evaluation of the written thesis paperPresentation and defense in front of the examination board
Grade
==> Presentation & Defence date is: 22.01.2020
==> Submission deadline of the Master thesis is on Fr, 30.11.2019 at the Central Services Desk. Please check the website for opening hours: https://www.uni.li/de/universitaet/services/zentraleservicestelle
==> The digital version of your Master thesis is to be submitted via moodle using the course "Thesis Project". Please use the required naming as providedin the Guidelines for academic papers in Economics.
==> Submission Thesis: Please check Guidelines for academic papers in Economics (under Regulations and Forms).
Module number:
4808120
Semester:
WS 19/20
ECTS Credits:
27
Courses:
14 L / 11 h
Self-study:
800 h
Language:
English
Scheduled Semester:
4

C15 Investment Strategies and Asset Management

C15 Investment Strategies and Asset Management

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
Investment Strategies by Asset Class: Equitiy, Fixed Income, and Derivatives Strategies
Investment Strategies for Different Economic Environments
Asset Management in Practice
Teaching Method
Paper-based preparation of topics, strategy implementation and testing, presentation and discussion
Learning Objectives
After completion of this module, students know about practical aspects of asset management, in particular various investement strategies. These strategies can be categorized by asset class and/or particular (macro-)economic environments for which they are particularly suitable.
Learning Results
Understand exactly how investors try to achieve profits using different asset classes
Know the state of the art regarding risk/profit drivers in financial markets
Devise, justify, and test investment strategies for different economic environments (inflationary/deflationary, expansion/recession,...)
Assessment Methods
See lecture within the module.
Module number:
4808107
Semester:
WS 19/20
ECTS Credits:
6
Courses:
28 L / 21 h
Self-study:
159 h
Language:
English
Scheduled Semester:
3

C15 International Finance

C15 International Finance

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
  • Global Financial Environment
  • International Parity Conditions
  • Foreign Exchange Rate Determination and Forecasting
  • The Foreign Exchange Market and the Use of Foreign Currency Derivatives
  • Foreign Exchange Exposure
  • Financing the Global Firm
  • Foreign Investment Decisions
  • International Trade Finance
  • Working Capital Management
Teaching Method
Interactive lecture with exercises.
An excursion could be offered, lasting several days, and with relation to the content of the lecture.
Business leaders will be invited to give a speech with practical insight.
Learning Results
  • Having at ones disposal comprehensive and integrated knowledge of the majority of core areas in international business finance.
  • Independently solving problems in international business finance by means of acquired concepts.
  • Applying procedures and techniques that are specialised and always state-of-the-art.
  • Identifying, conceptualising and defining new and abstract issues and problems in international business finance.
  • Communicating acquired information comprehensibly to specialists and laities.
Course Materials
Continuously updated Syllabus and lecture slides will be available on moodle.
Assessment Methods
See lectures within the module.
Module number:
4808087
Semester:
WS 19/20
ECTS Credits:
6
Courses:
52 L / 39 h
Self-study:
141 h
Language:
English
Scheduled Semester:
1

C15 Financial Economics and Markets

C15 Financial Economics and Markets

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
  • Introduction to Financial Markets
  • Interest rates and bond prices
  • The structure of interest rates
  • Market efficiency
  • Monetary policy
  • Money markets
  • Bond markets
  • Mortgage markets
  • Derivative markets
  • Introduction to Financial Economics
  • Expected utility, Mean-variance and Prospect theory
  • Ambiguity
  • Capital Asset Pricing Model
  • Behavioral CAPM
  • Basic two-period models
  • Arbitrage Pricing Theory
Teaching Method
Interactive lecture with compulsory pre-readings.
Learning Objectives
After the completion of the module the students know how the most important financial markets work and which instruments are traded on them. They know and are able to use in examples the groundwork of decision theory and asset pricing models. An insight into behavioral aspects is approached.
Learning Results
Students...
> know how interest rates and bond prices are related and influence each other
> know different structures and theories of interest rates
> are able to explain what market efficiency is and know evidence for different stages
> can explain how monetary policy is used to influence financial markets
> know the dynamics of money, bond, derivatives and mortgage markets
> are able to use all classic decision theories to solve exemplary problems
> know the assumptions underlying each decision model
> understand what ambiguity is and how it influences decisions
> understand and are able to use different pricing models on basic exemplary problems
Assessment Methods
See lecture within the module.
Module number:
4808073
Semester:
WS 19/20
ECTS Credits:
6
Courses:
49 L / 37 h
Self-study:
143 h
Language:
English
Scheduled Semester:
1

C15 Empirical Finance

C15 Empirical Finance

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
Empirical Finance will cover:
  • Foundations of Modern Standard Capital Market Theory and Capital Asset Pricing Model
  • Market Anomalies
  • The Event Study Method
  • Empirical Asset Pricing Tests
  • Key concepts of experimental research approaches
  • Testability of market and trader behavior
  • Introduction to R (Syntax, program structure, programming concepts)
Teaching Method
Interactive lecture with exercises
Assessment Methods
See lectures within the module.
Class participation in "Programming in Finance" is obligatory.
Module number:
4808083
Semester:
WS 19/20
ECTS Credits:
6
Courses:
63 L / 48 h
Self-study:
133 h
Language:
English
Scheduled Semester:
1

C15 Corporate Governance and Ethics

C15 Corporate Governance and Ethics

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
Ethics Essentials:

  • Theory, Principles, and World-Views
  • The Ethical Leader: Self-Mastery and Ethics, Mind-Sets
  • Corporate Ethics: Shared Values, Professionalism (as part of Standards of Professional Conduct)
  • CFA Institute Code of Ethics and Standards of Professional Conduct
  • GARP Ethics and Code of Conduct


The course in Corporate Governance covers:

  • Role and Responsibility of Owners
  • Practice of Right of Control for Various Actors
  • The Problem of Free Riding
  • Major Investors
  • Conflicts of Interest Between Financiers
  • Conflicts of Interest Between Stakeholders
  • Financial Remuneration of Managers
  • Alternative Designs for Option-Based Remuneration Structures for Managers
  • Role and Responsibility of Institutions (Accounting, State)
  • Corporate Governance in Financial Services Undertakings
  • Optimal Design for Corporate Governance
  • Empirical Investigations of Corporate Governance
  • The role of Risk Management in Corporate Governance
Teaching Method
Interactive lecture with discussion, cases.
Learning Results
Ethics:

  • Understanding the origins, discipline and business case of ethics
  • Discussing defined moments such as ethical dilemma in the corporate context
  • Familiarizing with the standards of professionalism in particular

Corporate Governance:

Students:

  • illustrate the role and responsibility of corporate owners
  • explain the right of corporate control
  • describe the problem of free riding
  • identify the special characteristic of major investors
  • describe conflicts of interest
  • scrutinise methods of remuneration of managers
  • describe and critically evaluate differing designs for option-based remuneration structures regarding their effect
  • demonstrate the role and responsibility of the board of directors, a company’s audit committee and the state
  • explain the special characteristics of Corporate Governance in the undertakings of financial services
  • develop optimal Corporate Governance structures
  • contrast empirical investigations of Corporate Governance
  • compare and contrast best practices in corporate governance with those of risk management
  • evaluate the relationship between a firm’s risk appetite and its business strategy
  • distinguish the different mechanisms for transmitting risk governance throughout an organization
  • illustrate the interdependence of functional units within a firm as it relates to risk management
Course Materials
Lecture slides will be available on Moodle
Assessment Methods
See lectures within the module.
Module number:
4808109
Semester:
WS 19/20
ECTS Credits:
6
Courses:
56 L / 42 h
Self-study:
138 h
Language:
English
Scheduled Semester:
3

C15 China at the eastern end of the continental and maritime silk roads - past and present

C15 China at the eastern end of the continental and maritime silk roads - past and present

Module Coordinator/Lecturers
Study Programmes
Master's degree programme in Finance
Project Description
The course will give you a broad understanding of the Chinese civilization and its relations to the people of the western hemisphere during the last two thousand years.

Students:
  • learn about Chinese history, civilization, religions, economy and politics, including the new policies of President Xi Jinping
  • get to understand the differences in thinking, behavior and action of the Chinese in contrast to the people in the West.
  • learn about the economic relations between China, South East Asia, South Asia, Middle East and Near East and the West along the continental and maritime silk roads. The global East-West-trade is more than 2000 years old.
Teaching Method
Lectures, self-study and presentations
Learning Results
  • After successful completion of this module, students will understand the major differences in thinking, behavior and action between Chinese and Western people.will have sophisticated instruments of communication with Chinese. Intercultural misunderstandings are the major obstacle for multinational companies.understand the complex economic and cultural relations between China, India, the Islamic states in the Near East and the countries in Europe.will be able to understand the Chinese way of decision making.will understand that each age has its winners and losers world wide and what we can do about it.
Course Materials
  • Bernstein, William: A splendid exchange. How trade shaped the world, London 2008Englert, Siegfried: Quanzhou. Versuch einer Annäherung, Annweiler: Plöger Medien 2012Frankopan, Peter: The Silk Roads: a new history of the world, London: Bloomsbury 2015Gunn, Geoffrey C.: History without borders. The making of an Asian world region 1000 - 1800, Hongkong University Press 2011Hansen, Valerie: Silk Road, a new history, N.Y.: Oxford Uni Press 2012Hansen, Valerie: The Silk Road, a new history with documents, N.Y.: Oxford Uni Press 2017Hernig, Marcus: Chinas Bauch. Warum der Westen weniger denken muss um den Osten besser zu verstehen, Hamburg: Edition Körber 2015Hofstede, Geert: culture's consequences, N.Y. 2001 (2nd edition) Spence, Jonathan D.: the search for modern China, N.Y. 1990Wood, Frances: The silk road. Two thousand years in the heart of Asia, Berkeley University of California. 2002
Assessment Methods
Paper (80%), presentation (20%) - Compulsory attendance (min. 80%)
Module number:
4809554
Semester:
WS 19/20
ECTS Credits:
3
Courses:
24 L / 18 h
Self-study:
72 h
Language:
English
Scheduled Semester:
1
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