Note: Modules offered each academic year are subject to change. Listed below are the modules and timetable for 2021/22.
Credit Risk (5 ECTS)This course analyses credit risk management in the modern global economy – how it arises, how it is managed and the critical impact that effective and ineffective management can have on the Global financial system and hence on the Global Economy. Fundamental Credit Analysis is examined as well as market based measures and how these measures interact. The evolving regulatory landscape is also examined in the context of the new measures proposed to mitigate some of these risks and to limit future shocks to the global financial system
Having successfully completed this module, the student should be able to:
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Corporate Finance (5 ECTS)The aim of the course is to provide students with an outline of the main issues in corporate finance. Corporate finance concerns itself with three main issues: how corporations choose investments (real and financial) using the principles of capital budgeting, how corporations choose to raise capital (in particular the choice of a mixture of debt and equity securities) and how they then choose to redistribute any surplus earned by the deployment of these capital resources (dividend decisions). At the heart of corporate finance is the concept of the cost of capital, an area that despite several decades of research, at least three Nobel prizes and thousands of research papers is still at one and the same time a simple concept and one that is exceedingly difficult to operationalise.
Mathematics of Contingent Claims (5 ECTS)The module aims to introduce the mathematical foundation for understanding uncertainty, risk and expectation values of random events and processes. These ideas will later be developed to describe models of financial systems that incorporate randomness and predict expected future values and risks.
Derivatives (5 ECTS)This module examines the primary types of derivatives (forwards, futures, options and swaps), shows how they are used to achieve various hedging and speculating objectives, outlines a framework for pricing derivatives and studies several applications of derivative pricing techniques outside derivative markets.Having successfully completed this module, the student should be able to:
Credit and Fixed Income Instruments (5 ECTS)The aim of this course is to provide students with the required knowledge in managing fixed income and credit instruments in investment portfolios. It encompasses the basics of the various debt vehicles, their valuation and how to use them. Respective derivative instruments and hedging practices are also covered.
Market Risk (5 ECTS)This module provides an overview of market risk, focussing on the market risk measurement and management for financial institutions. The module intends to provide both theoretical underpinning and some understanding of practical issues which may face market risk managers at commercial or investment banks, fund managers (traditional and alternative) or pension funds.
Operational Risk (5 ECTS)
This module provides participants with in-depth knowledge and up-to-date advice on the best practices in operational risk measurement and management in the financial industry. Using interactive sessions and real life case studies, this module enables participants to apply the knowledge they will learn about operational risk measurement and management in designing effective operational risk policies which are integrated with the firm’s risk culture, appetite and tolerance. Moreover, participants will have the opportunity to work in teams to analyse comprehensive cases, solve practical problems and apply the concepts learnt to real world scenarios in an operational risk context. Overall, this module aims to communicate complex concepts and sophisticated techniques of operational risk planning, measurement, management, reporting and disclosure in a truly simple but highly effective way.
Risk Quantification and Measurement (5 ECTS)The aim of this course is to give an introduction to the mathematical tools used in basic derivative pricing in discrete and continuous time. Topics covered will include arbitrage, binomial trees, Brownian motion, Ito calculus, analytic and numerical solution of stochastic differential equations, the Black-Scholes-Merton equation and basic interest rate models.Having successfully completed this module, the student should be able to:
Treasury Management (5 ECTS)The aim of this module is to gain an understanding of the ways in which corporations manage financial risks, funding and liquidity. The module is made up of two parts. The first part focuses on key functions of treasury departments in industrial companies: hedging of commodity and exchange rate risks as well as debt financing. The second part examines how banks manage liquidity and interest rate risk arising from their intermediation activities.
Trading Psychology and Behavioural Analysis (5 ECTS)Candidates will be connected directly to our Amplify Trading’s London trading floor as they research, analyse and strategize for each trading decision made. Students will be encouraged to explore the practical implications of contemporary financial market theoryHaving successfully completed this module, the student should be able to:
Portfolio and Wealth Management (5 ECTS)Portfolio & Wealth Management module provides a deep insight into the key tools which investment decision makers utilise when developing investment strategies in the current global investment landscape. The course builds the practical requirements for effective investment management, portfolio execution, long-term estate planning, and risk management for organisations and individuals. Bringing together a combination of live market analysis, current views on the economic outlook, and the setting of the investment landscape within historical boundaries, the module provides students with a comprehensive journey through the risk and return trade offs which face investors planning for short, medium and long term objectives.
The course covers:
Financial Markets and Institutions (5 ECTS)In this module we will discuss:
Financial Modelling and Scenario Analysis (5 ECTS)
One of the most commonly used tools to analyse quantitative problems in the finance industry is Microsoft Excel. This course presents several typical situations where financial and/or business models are required to analyse the question at hand. This course shows how appropriate models can be developed and solved using Excel and its embedded Visual Basic for Applications (VBA) programming language. The students are taught how to design and develop financial models for solving complex financial problems. Applications include forecasting financial statements, estimating costs of capital, decision making under uncertain conditions, computing covariance matrices, constructing efficient portfolios, pricing financial options, performing fixed income analytics.
Panel and Cross Sectional Data Analysis (5 ECTS)This module has two broad objectives: (1) To enhance students’ state-of-the-art knowledge on advanced econometrics and application in a rapidly growing field of study – the panel data – which combines features of both cross-sectional and time series data within single estimation framework. (2) To enrich students’ knowledge in terms of both theory and application on the study of panel data under alternative estimation environment, using semi-parametric and non-parametric methods. The module offers a comprehensive introduction to Advanced Panel Data Models. You will learn various analytical tools to enable you to analyse economics and financial data.
Enterprise Risk Management (5 ECTS)The aim of the course is to provide students with a comprehensive study of enterprise risk management and conceptual guidance for enterprise risk management (ERM) implementation. Some sources have referred to ERM as a new risk management paradigm. Under ERM, all risk areas (for example, insurance, foreign exchange risk, operational risk, credit risk and commodity risk) would function as parts of an integrated, strategic, and enterprise-wide system. Leading global credit ratings agencies now include whether firms have ERM programs as part of the credit ratings process.
Private Equity (5 ECTS)Private equity has its own unique and often confusing performance metrics. Students will need to understand how these can be mapped to public markets performance metrics and gain an analytical understanding of the A – Z of the private equity market requires cash flow modelling skills at levels of analysis’. By gaining an operational experience with these models students will be in a position to develop a broader understanding of the financial analytics underpinning the private equity market.
Energy Finance and Trading (5 ECTS)This module starts with an overview of energy finance and trading by first covering the current energy outlook, introduction to the oil and gas industry, and industry structure and terminology. After covering financial statement analysis of oil and gas companies, the module turns to capital budgeting and risk analysis of energy projects. In the remainder of the module, energy derivatives, energy risk management, and energy trading is discussed and applied to problems and situations.
Business Ethics (5 ECTS)In this module, we will consider the role that businesses and multinational corporations play in our society. Alongside the positive and indispensable role of business are questions around balancing impacts. In the face of serious economic, social and environmental damage, this module explores the extent to which the legitimacy of business into the future is linked to increased transparency and accountability.
We will explore current debates and initiatives related to ethical business, corporate social responsibility and business and human rights to prepare students to engage with the responsibility of business and business leaders vis-Ã -vis society and future generations. Students are encouraged to think critically about corporate responsibility in the real world and appraise the impact of business decisions on a variety of stakeholders. This is an unfolding area with no easy answers. Our approach is that learning to effectively manage ethical, social, human and environmental rights issues will produce positive results for the manager, business and for society at large.
On successful completion of this module students should be able to:
Advanced Statement Analysis (5 ECTS)
This module builds on International Financial Statement Analysis [BU7504]. It is designed on the basis that students have a reasonable knowledge of financial accounting. It aims to develop knowledge and skills in the financial analysis of the public documents filed by companies, with a view to aiding decision-making in a wide range of commercial contexts. The module takes a wide user perspective, encompassing the aims and decision models of equity, credit and other analysts. These users make decisions in different contexts, and focus on different areas of the financial statements. As well as analysis of the financial reports, the module also encourages a wider understanding of the firm’s strategy, competitors and markets. The issue of accounting quality will also be considered, with a focus on the discretion available to preparers of financial statements. Classes will involve a mixture of lectures, discussions, examples and questions. Active participation will be required, i.e. preparation for and attendance at lectures, participation in class discussions and involvement in group work. Practice problems have been assigned for each topic in the syllabus, and students are encouraged to do these.
Finance, Policy & Politics (5 ECTS)
This course describes how the Irish Government funds public services from tax revenues and public borrowing. It outlines the traditional annual estimates process and negotiations between the Department of Public Expenditure and Reform and the line Departments. This system, established since the 1920s, has been evolving since 1973, when Ireland joined the European Union, and significantly with our membership of the single currency in 2000. The economic crisis in Europe, and particularly within the Eurozone Member States, is changing the relationship between the European Institutions, including the Commission, the Ecofin and the European Central Bank and the nineteen members of the Eurozone.
In turn, the methods of budgetary coordination and supervision of all member states, by the European Institutions, have continued to evolve over the past few years. Many commentators predict that more change will have to come. This is central to the future of the Single Currency and the economic stability of the European Union. By exploring Ireland’s experience, this module intends to inform just what is happening to the politics of public money in Ireland. Political factors and forces both National and European inform this entire process. The journey, from shaping nation budgets to participating in Ministerial meetings of Ecofin is explored so as to better understand the National Politics of Public Money in Ireland.
Having successfully completed this module the student should be able to:
