Global Finance (M.Sc.)

Study language English Intake Fall Duration 4 Semesters
ECTS 120 Type of study Full-Time Qualification Master of Science
Semester abroad Optional Internship Integrated Campus Cologne
Tuition (Cologne) 5.370 €* Financing More info >>
*The displayed prices are semester fees. For non-EU students' fees please check the tuition fees information page. Status: Jan 2020.

Study Course Plan

Business Economics
3 ECTS

  • Demand analysis & estimating demand
  • Supply and market equilibrium
  • Production economics
  • Estimating cost functions and production functions
  • Prices, output and strategy in different markets
  • Game theory models of oligopoly
  • Pricing techniques and analysis

Empirical Research Methods
3 ECTS

  • Quantitative and qualitative methods
  • Development of a research question
  • Steps of research process
  • Methods of data collection
  • Data analysis using statistical software programs

Strategic Analysis & Management
3 ECTS

  • Strategy making process and strategic reasoning
  • Advanced external environment analysis
  • Cultural and institutional context of strategic management
  • Corporate development and configuration
  • Strategic change and corporate restructuring
  • Strategy evaluation and strategic controls
  • Organizing for success

Innovation Management & Digital Transformation
3 ECTS

  • Diagnosing the change context and leading the strategic change
  • Dynamics of innovation & their implications for change management
  • Individual creativity and invention
  • Creativity techniques
  • Corporate creativity & intrapreneuring
  • Innovation and technology strategies
  • Managing innovations
  • Open innovation
  • Diffusion of innovations
  • Cultural differences in innovation capability

Corporate Social Respons­ibility
3 ECTS

  • Theories of corporate social responsibility
  • Cornerstones of sustainable management
  • CSR as management approach
  • Practical approaches of organizational effectiveness
  • Tools for CSR implementation
  • CSR and financial performance
  • How to communicate CSR

Corporate Governance
3 ECTS

  • Historical developments around the world
  • Directors and board structures in different parts of the world
  • Family business governance
  • Role of institutional investors
  • Corporate governance in mergers and acquisitions
  • Corporate governance in different regions

Global Finance
3 ECTS

  • Foreign exchange and eurocurrency markets
  • Managing operating exposure to currency risk
  • Foreign market entry and country risk management
  • Multinational capital structure and cost of capital
  • Real options and cross-border investment strategy

Inter­national Investment
3 ECTS

  • World trade and international monetary system
  • Treasury management of international transactions
  • Cross border capital budgeting
  • Corporate governance and international market for corporate control

Advanced Inter­cultural Team Leadership
2 ECTS

  • Cultural theories and models
  • The influence of culture on behaviour
  • Team typologies
  • Phases of team development
  • Trust and control
  • Emergence and avoidance of conflicts
  • Leadership verses management
  • The impact of leadership behaviour on teams

Advanced Negotiation and Influencing Skills
2 ECTS

  • Positional and principal negotiations – advanced strategies and tactics
  • Identifying the opponent’s negotiation profile
  • Understanding the personal negotiation profile and preferences
  • General persuasion techniques
  • Negotiation maneuvers and tactics for advanced players
  • Techniques for opponent engagment
  • Managing emotions and self- programming for defending your point of view
  • Cialdini’s 6 principles of persuasion

Language & Communication Skills
2 ECTS

The “Advanced Critical Thinking & Writing Skills” course is offered for German native speakers. Non-native speakers of German can choose between the “Advanced Critical Thinking & Writing Skills” course taught in English and German as a foreign language.

International Economics
3 ECTS

  • The global economy
  • Globalization and income
  • Globalization and international trade
  • Trade and comparative advantage
  • David Ricardo’s theory of comparative advantage
  • Modern trade theory: Heckscher-Ohlin and imperfect competition models

Applied Management Accounting
3 ECTS

  • Systems design: Job-order costing
  • Systems design: Process costing
  • Cost-volume-profit relationships
  • Variable costing
  • Activity based costing to aid decision making
  • Sustainability and ethics in accounting decision making

Business Project
6 ECTS

The overall objective of this course is to provide students with possibility of applying their business knowledge on concrete business situation, related to the field of their specialization.

By the end of the module students should be able to:

  • Define project goals for the “client”.
  • Work under the set timeframe and agreed project scope.
  • Cooperate in the international project teams.
  • Evaluate markets/ industries/ competitive landscapes.
  • Develop possible strategic directions for the “client” business.
  • Formulate recommendations.

Corporate Tax
3 ECTS

  • Different types of taxes
  • Process of taxation
  • Issues in taxation
  • Impacts of taxation
  • Nature of taxation
  • International nature of taxes
  • New developments in the field of taxes

Advanced Financial Accounting
3 ECTS

  • Revision of company accounting: Presentation of financial statements and overview of investment accounting standards
  • Business combinations: Types of business combinations, joint ventures
  • Consolidation theories and methods: Consolidation on date of acquisition, impairment
  • Consolidation subsequent to acquisition date
  • Accounting for foreign currency transactions: Hedges
  • Off-balance Sheet Financing: Recognition & Valuation

Empirical Analytics For Finance
3 ECTS

  • Brief review of probability theory and statistics
  • Non-linear regression functions
  • Regression with panel data
  • Regression with binary independent variable
  • Time series regression and forecasting

Portfolio Management
3 ECTS

  • Identify different categories of common stock
  • Develop a good idea for equity strategy and security selection
  • Develop skills to manage and monitor activities of asset programs
  • Identify efficiencies and savings
  • Identify how returns are generated on preferred stocks
  • Identify and apply portfolio management process
  • Evaluate Value at Risk (VaR) and Expected Shortfall
  • Analytical VaR Models
  • Model complex portfolios

Inter­national Project Management
2 ECTS

  • Basic competence
    (Project specifications, project goals and evaluation, project phases and cycles, project norms and rules)
  • Social competence
    (Communication, motivation, groups and team structures, leadership, conflict management)
  • Methodological competence
    (Structural aspects, time management, cost management, human resource management, creativity and problem solving)
  • Organisational competence
    (Quality management, documentation, risk management, project start and closure).

Financial Fraud and Ethics
2 ECTS

  • Financial fraud and its manifestations
  • Ethics in finance
  • Alternative Banking Models like those of Triodos and GLS Banks
  • Alternative business models like those of KIVA and BOVESPA
  • Alternatives to growth models
  • Alternative investment products like Social Impact Bonds
  • Impact Finance and Micro Finance
  • Understanding the alternative Indices and their shortcomings
  • Rating Agencies and soft factor scores.

Language & Communication Skills
2 ECTS

The “Advanced Critical Thinking & Writing Skills” course is offered for German native speakers. Non-native speakers of German can choose between the “Advanced Critical Thinking & Writing Skills” course taught in English and German as a foreign language.

Value Based Management
3 ECTS

  • Financial measurement of corporate strategies: the principles
  • The gap between book values and market values
  • Economic value added
  • Cash flow return on investments
  • Customer life-time value

Sustainable Supply Chain Management
3 ECTS

  • Discussion of various theoretical concepts and their implications for sustainable supply chain management
  • Green marketing
  • Green procurement
  • Green logistics

Fixed Income & Securities
3 ECTS

  • Fixed income instruments
  • Term structures of rates and yields
  • How are bonds traded?
  • Fixed income risk: Duration and Convexity
  • Corporate bonds: Credit risk
  • Fixed income indexes
  • Yield curve strategies
  • Interest rate scenario analysis
  • Credit strategies

Derivatives & Risk Management
3 ECTS

  • Futures and Forwards
  • Options and Swaps
  • Recent developments in OTC and Exchange-traded Derivatives
  • Overview of Market Risk Management
  • Risk measures for different asset classes
  • Portfolio Risk Measures
  • Valuation with Put-Call-Parity
  • Binomial option pricing model and the Black and Scholes model.
  • Risk measures beyond market risk
  • Single name Credit products: Bonds, CDS
  • Market implied default probabilities and correlations

Applied M&A & Restructuring
3 ECTS

  • Corporate strategy evaluation and development of strategic options
  • Emergent and prescriptive approaches
  • Gap closing strategies
    • Buy strategies: Mergers and Acquisitions
    • Build strategies: Strategic renewal, organic corporate development strategies
    • Ally strategies

Business Simulation Game
3 ECTS

In a business simulation game participants have to manage their own virtual company which operates in the same market as other participant-operated competitors. This involves making typical management decisions in realistic environments. Beside the deepening and active examination of subject-specific knowledge the simulation games also include the team environment, where interaction, communication and prioritization are of paramount importance. Participants learn how to manage risk and uncertainty while time is limited and information constrained. Group-reflections help to take over different perspectives and to discuss pros and cons of content- as well as behavior-related actions.

Master Thesis Tutorial
2 ECTS

During the Master Thesis Tutorial you will learn the fundamentals for your Master thesis: Defining the topic as well as structuring the thesis and you will learn the theoretical knowledge for scientific working.

Skills Elective (Programming)
2 ECTS

In the Soft Skills Courses you will improve your social, leadership and project management skills. Additionally to the courses in the first and second semester you can choose another one in the third semester. Decide for yourself which of your personal competences you want to push forward.

Programming and Modelling
2 ECTS

  • Introduction to Python (modulisation)
  • Coding in Python (data assignment/updates, data types, )
  • Solving iterative problems (understanding and creating loops)
  • Making decisions (understanding and creating selection statements)
  • Working with structured data (strings, lists)
  • Documenting
  • Testing
  • Debugging

Language & Communication Skills
2 ECTS

The “Advanced Critical Thinking & Writing Skills” course is offered for German native speakers. Non-native speakers of German can choose between the “Advanced Critical Thinking & Writing Skills” course taught in English and German as a foreign language.

Master Thesis
24 ECTS

During your 4th semester you are working on your Master thesis. You have 19 weeks to complete your thesis and the subject is freely selectable. A supervisor from CBS will support you and you can write the thesis in collaboration with a company as well. Or you can write your thesis in connection with a stay abroad.

General business teaching units
Programme specific teaching units
Interdisciplinary competencies

A national or international internship – with a minimum duration of 8 weeks – is a mandatory part of the study programme. It is scheduled for the semester break from June till August. Our Career Service department will help you find a suitable company.

Kristina Behr

+49 (0) 221 93 18 09-31

Get in touch

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Higher education as Finance Leader

Finance is one of the most attractive employer markets for business economists. The prerequisite for your career in the capital market, however, is a deep understanding of its interrelationships, processes and actors. By studying Global Finance (Master of Science), you lay the foundation for your career in international companies and groups. As a manager in senior management, you will acquire in-depth specialist knowledge of finance over four semesters, language skills in English as the language of instruction and another language, as well as competence in team leadership.

About CBS International Business School

Economy meets capital

In the master’s programme “Global Finance” you will acquire in-depth knowledge in business administration and finance. Your university education will focus on seminars on “Business Economics”, “International Investment” and “Values Based Management”.

Internationally oriented studies

What analyses are required to assess risks? How can optimization potentials be determined in financial processes? These and other questions are dealt with in the seminars “Global Finance” and “International Investment” during your first semester. Starting in the second semester, the focus will be on topics such as Advanced Financial Accounting and Empirical Analytics for Finance.

Core competencies in “Mergers & Acquisitions”

The merger of two companies and the acquisition of business units are typical transactions in the international business environment. The entry into new sales markets and company growth often occurs through such M&A activities. Before this happens, however, it is necessary to evaluate the takeover candidate. During the first three semesters of the master’s programme “Global Finance” you will learn the tools for due diligence in the seminars “Empirical Research Methods” and “Applied M&A and Restructuring”.

Your way to the master’s programme “Global Finance

Graduates of a first degree in business administration can qualify for the master’s programme if they have an advanced knowledge of English. Basic knowledge of finance is an advantage.

Career start made easy

After graduating, you will have many opportunities in the world of finance – from a management position in medium-sized organisations, to investment banks, to multinational corporations. With your master’s degree, you also have the admission requirement for a doctorate.

Practical knowledge as an advantage

Do you wish to make business contacts during your studies? At the CBS International Business School, this is possible through practice-oriented teaching content such as Business Projects and an eight-week internship at home or abroad. In addition, your lecturers from the private sector will prepare you for the demands of everyday working life. You will deepen your business English skills in foreign language training and apply them during the English lectures. You can write your master’s thesis in the fourth semester as part of a project with a practical partner or at one of over 120 partner universities.

Count on our advice

Master? Finance! We are happy to support you in choosing and planning your studies. Take advantage of our info evenings, study information days, a personal study consultation or visit a trial lecture.

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