Theories of International Trade and International Finance aim at explaining underlying dynamics of economic and social developments in a global context. They also allow to investigate relations between market and industry structures and flows in goods, services and financial flows. Furthermore they serve in designing and evaluating the impact of macro-economic policies, currency fluctuations and trading regimes on economies, business strategy and operations.

The module aims at examining how national policies can, in theory, shape international trade and finance, and constrain the climate for international business. It extends this analysis to the international system discussing the role of international arrangements and institutions, e.g. the WTO, on international trade and investment.

Using a series of country-based case studies, students will have the opportunity to investigate how firms feel and master the impact of government policy and institutional set-ups in a specific nation state or economic region, for example China, India, the Arab World and South-America.

Contents of the module are:

• Sources of international comparative advantages (differences in natural resources, technology and factor endowment)
• Principles of strategic trade theory and geographic economic integration
• Goals, instruments and impact of modern international trade policy in industrial and emerging economies
• International trade agreements and organisations

Interactive lectures, exercises

The purpose of this module is to enable students to understand the challenges of international trade and investment and to analyse the opportunities they represent concerning a specific nation state or a wider economic region.

• Explain fundamentals of neo-classical and strategic trade theories
• Distinguish implications for national trade policies
• Illustrate main themes and debates in international economics
• Assess the impact of macroeconomics, political forces and international agreements on firm strategies and competition in a specific nation-state or economic region

Written term paper

Web-based online evaluation upon completion of module

Educational Journey

• Banking and Financiall Management students: please click on the course-link at the top of this page - "Educational Journey BFM". For further questions please contact the module coordinator Jurij-Andrei Reichenecker.
• Entrepreneurship students: the Educational Journey in your Master's degree programm is a sperate module with the correalting course "Discover new markets" -see lecture Schedule

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.

• 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. 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.

Expose and thesis template are available here: Regulations and Guidelines

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

Web-based online evaluation upon completion of module

IMPORTANT DEADLINES:

Final Exposé: 25.02.2015

Start of Master Thesis: 01.03.2015

Colloquium: 27.03.2015

Deadline Master Thesis: 31.07.2015, 8.30 - 11.30am at the Central Services Desk at latest

Presentation and Defence: 27.+ 28.08.2015

Graduation Cermony: 25.09.2015

• Review of relevant economic concepts and topics
• International Monetary Trade
• Portfolio and Asset Management
• Banking
• Discussion of Case Studies

Interactive lectures, case studies

After completion of the module, the students are able to recognise and analyse challenges in the practice of banking. They can explain suggestions for solutions and thereby integrate their theoretical knowledge. In discussions with instructors and fellow students they are able to assess basic approaches to solutions, to suggest their own solutions and to enlarge on concepts.

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

Web-based online evaluation upon completion of module

• Function of Financial Markets
• Regulation of the Financial System
• Monetary Policy
• Banking Regulation
• Going Public, IPO`s
• Underpricing and Underperformance
• Merger and Acquisitions Process
• Merger Motives
• Defence Measures
• The Role of Investment Funds in Investment Banking
• Hedge Funds and Private Equity Funds

Interactive lectures, exercises, business-scene simulation

After completion of the module, the students have at their disposal comprehensive knowledge in the specialised area of investment banking, so that they are readily able to integrate theoretical knowledge of financial markets and relate various views to each other. They understand how both subject areas are connected and are able to mirror the current state of research.

Furthermore, they conduct research projects within a specified framework, while applying advanced investigative techniques. Thus they identify and define new and abstract problems and develop appropriate solutions for it. Their detailed solutions that were developed together with colleagues as well as peers, are presented to an audience of experts.

• Written examination with 90 minutes editing time
• Assignment with presentation
• Obligatory class participation

Web-based online evaluation upon completion of module

• Global Financial Environment
• International Parity Conditions and Exchange Rates
• The Foreign Exchange Market and Derivatives
• Foreign Exchange Exposure
• Financing and Investing in the Global Firm
• Working Capital Management
• Investment and Financing Decisions in Entrepreneurial Settings
• Deal Structuring
• Evaluation Instruments for Entrepreneurial Ventures
• Harvesting Strategies
• Discussion of the Methods of Individually Selected Journal Articles

Interactive lecture, exercises, seminar

After completion of the module students have at their disposal a comprehensive and integrated knowledge of the majority of core issues in International Business Finance und Entrepreneurial Finance. They also have an analytical comprehension of the procedures and methods. With their acquired knowledge and abilities they are able to independently solve problems in the discussed field.

Students can apply procedures and techniques that are specialised and consistently state-of-the-art and identify, conceptualise and define new and abstract issues and problems in international corporate finance and entrepreneurial finance and communicate comprehensively with professionals and laities.

As part of the final assignment participants prepare research papers on assigned topics or smaller empirical or analytical research projects, and apply exact technical procedures and methodologies. They show their capability to deliver and explain results of their own seminar project in a presentation and in a question and answer session. Students are able to communicate at a professional level reflecting various degrees of expertise in front of an audience of specialists and critically comment on projects of other seminar participants and verify their remarks.

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

Web-based online evaluation upon completion of module

• 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

• Essay Writing
• Dokumentation und Recherche
• Sprache und Intertextualität
• Schreibprodukt und Schreibprozess

Just as the doctoral consortium, the summer school serves multiple purposes in the educational programme of the students: Whereas the doctoral consortium aims at presenting the own work in an international frame, the summer school intends to deepen methodological skills in a specific field of choice relevant to the PhD theses of the students. In addition, working together with professors and PhD-students from abroad also contributes to social and communicative skills of the students in an international and intercultural environment.

Doctorate information systems students participating in an international Ph.D. summer school study contemporary issues in information systems research design and/or methodology.

Students will be assisted by lecturers of the Institute of Information Systems at the University of Liechtenstein in preparing their proposal and application for the summer school. Accepted students will take part in the summer school. Also a reflection of the lessons learned at the summer school together with the lecturers at Liechtenstein is part of the module.

The primary objective of the summer school is to get further insights into the research methods applied by the PhD students and to discuss evolving questions with other young scientists.

The students will be assessed in this module through:

• competitive selection process of the summer school
• specific mechanisms of the summer school

Module availability:
On application at an internationally renown summer school, such as organised e. g. by the European Research Center for Information Systems (ERCIS).