Global Finance (M.Sc.)
Understand Global Markets, Manage Finances – Your Master’s in Global Finance

Your Master’s Degree in Finance– Master International Financial Markets and Launch a Global Career
International financial markets are the backbone of the global economy—and you can be part of shaping them. The English-taught Master’s in Global Finance equips you with the skills to assess risks and opportunities in global markets, develop innovative financial strategies, and make sustainable decisions that drive corporate success.
This Global Finance Master’s programme goes beyond traditional finance topics. You will explore international capital flows, the impact of geopolitical developments on financial systems, and the role of modern technologies such as blockchain and big data in the finance sector. Through hands-on projects and international case studies, you will gain real-world insights into the complexities of global markets while developing in-demand industry skills.
With a Master’s degree in Finance, you will unlock exciting career opportunities—whether in investment banking, multinational corporations, or global consulting firms. This degree provides you with the expertise to navigate complex financial systems and make data-driven strategic decisions.
Choose a degree that prepares you for success in the world of international finance!

Learning content
Integrative Case Studies
3
ECTS
- Focused review of the curriculum content
- Pre-assessment quiz/ content area assessment as a benchmark for students’ status quo
- Guide and Strategic Plan to Case Study Analysis
- Writing a proper Case Study Analysis report
- Developing proper answers to Case questions, applying the relevant theoretical knowledge and frameworks
- In-depth Case Study Analysis with focus on all subject areas of the curriculum
- In-depth Case Study Analysis with a special focus on Strategic Management
Integrative Case Studies
3
ECTS
- Focused review of the curriculum content
- Pre-assessment quiz/ content area assessment as a benchmark for students’ status quo
- Guide and Strategic Plan to Case Study Analysis
- Writing a proper Case Study Analysis report
- Developing proper answers to Case questions, applying the relevant theoretical knowledge and frameworks
- In-depth Case Study Analysis with focus on all subject areas of the curriculum
- In-depth Case Study Analysis with a special focus on Strategic Management
Portfolio/Asset Management
3
ECTS
- Return measurement: Geometric and Arithmetic
- Systematic vs. Unsystematic Risk: Diversification Risk: Standard Deviation; Semi-variance; Correlation; VaR
- Balancing risk and reward
- Market prices of risk: CAPM, market beta, and factor models
- Risk-adjusted returns: e.g., Sharpe, Treynor, Jensen’s Alpha, Sortino, Calmar, Information Ratio
- Risk models: liquidity risk, credit risk, factor models
- Performance measurement and attribution
- Asset Management industry and fund types: pension funds, mutual funds, hedge funds, ETFs, closed-end funds, venture capital and private equity
Portfolio/Asset Management
3
ECTS
- Return measurement: Geometric and Arithmetic
- Systematic vs. Unsystematic Risk: Diversification Risk: Standard Deviation; Semi-variance; Correlation; VaR
- Balancing risk and reward
- Market prices of risk: CAPM, market beta, and factor models
- Risk-adjusted returns: e.g., Sharpe, Treynor, Jensen’s Alpha, Sortino, Calmar, Information Ratio
- Risk models: liquidity risk, credit risk, factor models
- Performance measurement and attribution
- Asset Management industry and fund types: pension funds, mutual funds, hedge funds, ETFs, closed-end funds, venture capital and private equity
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
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
Business Valuation
3
ECTS
- Basics on business valuation
- Valuators and analysts, professional valuation companies
- Functions and purposes of business valuation
- Process of business valuation, business valuation standards
- Valuation methods
- Earnings-based valuation methods
- Cash-Flow-based valuation methods (flow to equity, free cash flow, total cash flow and adjusted present value)
- Market-based valuation methods (multiples)
- Business valuation and taxes
- Preparing the valuation report
Business Valuation
3
ECTS
- Basics on business valuation
- Valuators and analysts, professional valuation companies
- Functions and purposes of business valuation
- Process of business valuation, business valuation standards
- Valuation methods
- Earnings-based valuation methods
- Cash-Flow-based valuation methods (flow to equity, free cash flow, total cash flow and adjusted present value)
- Market-based valuation methods (multiples)
- Business valuation and taxes
- Preparing the valuation report
International Financial Accounting
3
ECTS
- Fundamentals of accounting
- Fundamentals of financial accounting
- Property, plant and equipment
- Intangible assets
- Financial instruments
- Inventories and Receivables
- Provision, Current and non-current liabilities
- Revenue recognition
- Superordinate standards
International Financial Accounting
3
ECTS
- Fundamentals of accounting
- Fundamentals of financial accounting
- Property, plant and equipment
- Intangible assets
- Financial instruments
- Inventories and Receivables
- Provision, Current and non-current liabilities
- Revenue recognition
- Superordinate standards
Risk Management in Capital Markets
3
ECTS
- Performance Criteria for Risk Management
- Process and Framework for Managing Risk
- No-arbitrage concept in international financial markets
- Nature of Derivatives (Forwards, Futures, Options, Swaps)
- Valuation and use of forwards
- Marking-to-Market mechanism with futures
- Valuation of options: Put-Call-Parity, Binomial-Model, Black-Scholes-Model
- Hedging currency exchange risk using derivatives
Risk Management in Capital Markets
3
ECTS
- Performance Criteria for Risk Management
- Process and Framework for Managing Risk
- No-arbitrage concept in international financial markets
- Nature of Derivatives (Forwards, Futures, Options, Swaps)
- Valuation and use of forwards
- Marking-to-Market mechanism with futures
- Valuation of options: Put-Call-Parity, Binomial-Model, Black-Scholes-Model
- Hedging currency exchange risk using derivatives
International Investments
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
International Investments
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
Behavioural Finance
3
ECTS
- Traditional versus Behavioural Finance
- Revisiting EMH
- Anomalies in the market
- Prospect and other theories in Finance
- Biases including herding, aversion, perception, amongst others.
- Reflective Reasoning and the illusion of control
- Theories and tools to alleviate behavioural issues in financial decision making
Behavioural Finance
3
ECTS
- Traditional versus Behavioural Finance
- Revisiting EMH
- Anomalies in the market
- Prospect and other theories in Finance
- Biases including herding, aversion, perception, amongst others.
- Reflective Reasoning and the illusion of control
- Theories and tools to alleviate behavioural issues in financial decision making
FINTECHs & Digital Finance
3
ECTS
- Evolution of the current Fintech landscape, impacts on the financial services industry
- Different Fintech business models
- Enablers of Fintech innovations (5G networks, cloud computing, Big Data and analytics, artificial intelligence, Blockchain and cryptocurrencies)
- Fintech innovations and disruptions in different areas of the financial services industry
- Robo-Advisory and its applications
- Success factors and recent failures of Fintechs
- Future development and challenges of Fintechs
FINTECHs & Digital Finance
3
ECTS
- Evolution of the current Fintech landscape, impacts on the financial services industry
- Different Fintech business models
- Enablers of Fintech innovations (5G networks, cloud computing, Big Data and analytics, artificial intelligence, Blockchain and cryptocurrencies)
- Fintech innovations and disruptions in different areas of the financial services industry
- Robo-Advisory and its applications
- Success factors and recent failures of Fintechs
- Future development and challenges of Fintechs
Advanced Financial Analysis
3
ECTS
- Cash flows in the context of established valuation models (e.g., dividend discount model, DCF model and other present value-based valuation concepts)
- Fundamentals and differences between accrual accounting and cash accounting
- In-depth understanding of accrual accounting: cash inflows and cash outflows versus assets, liabilities, revenues and expenses; revenue and expense recognition principles; year-end adjustments
- Historical cost concept versus fair value concept
- Cash effects of specific assets and liabilities (CAPEX, working capital, deferred taxes, pension liabilities)
- Bridging the gap between accrual and cash accounting: statement of cash flows (information value; distinguishing between operating cash flows, cash flows from investing activities and cash flows from financing activities; indirect and direct methods of calculating cash flows
- Preparing forecast financial statements (including a forecast statement of cash flows
- Predicting cash flows from the business as a whole: Flow to Equity and Free Cash Flow
- Determine cash flows from future investments/assets (growth)
- Relevance of cash flow prognosis in insolvency proceedings.
Advanced Financial Analysis
3
ECTS
- Cash flows in the context of established valuation models (e.g., dividend discount model, DCF model and other present value-based valuation concepts)
- Fundamentals and differences between accrual accounting and cash accounting
- In-depth understanding of accrual accounting: cash inflows and cash outflows versus assets, liabilities, revenues and expenses; revenue and expense recognition principles; year-end adjustments
- Historical cost concept versus fair value concept
- Cash effects of specific assets and liabilities (CAPEX, working capital, deferred taxes, pension liabilities)
- Bridging the gap between accrual and cash accounting: statement of cash flows (information value; distinguishing between operating cash flows, cash flows from investing activities and cash flows from financing activities; indirect and direct methods of calculating cash flows
- Preparing forecast financial statements (including a forecast statement of cash flows
- Predicting cash flows from the business as a whole: Flow to Equity and Free Cash Flow
- Determine cash flows from future investments/assets (growth)
- Relevance of cash flow prognosis in insolvency proceedings.
Empirical Analytics for Finance
3
ECTS
- Brief review of Probability theory and Statistics
- Linear regression with one regressor
- Linear regression with single regressor–hypothesis tests and confidence intervals
- Multiple regression
- Non-linear regression functions
- Regression with Panel Data
- Regression with Binary independent variable
- Time series regression and forecasting
Empirical Analytics for Finance
3
ECTS
- Brief review of Probability theory and Statistics
- Linear regression with one regressor
- Linear regression with single regressor–hypothesis tests and confidence intervals
- Multiple regression
- Non-linear regression functions
- Regression with Panel Data
- Regression with Binary independent variable
- Time series regression and forecasting
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
- Trade barriers and trade policy
- Firm location, distance and transport costs
- Firm location, distance and transport costs (multinationals)
- Exchange rates
- Currency crises and exchange rate policy
- Gains from capital market integration
- Financial crises, firms and the open economy
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
- Trade barriers and trade policy
- Firm location, distance and transport costs
- Firm location, distance and transport costs (multinationals)
- Exchange rates
- Currency crises and exchange rate policy
- Gains from capital market integration
- Financial crises, firms and the open economy
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
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
Sustainability & Biodiversity in Finance
3
ECTS
- Ethics in Finance
- Impact Investing
- Biodiversity Finance
- Socially Responsible Investments (SRI)
- Sustainable Investments
- Developments/Innovations in Sustainable Finance
Sustainability & Biodiversity in Finance
3
ECTS
- Ethics in Finance
- Impact Investing
- Biodiversity Finance
- Socially Responsible Investments (SRI)
- Sustainable Investments
- Developments/Innovations in Sustainable Finance
Business Simulation Game (finance-specific)
3
ECTS
- Market analysis
- Developing a business plan
- Capital procurement (loans, venture capital)
- Human resource planning and capacity utilisation
- Business valuation
- Fundamentals of investment appraisal
- Fundamentals of internal and external accounting
Business Simulation Game (finance-specific)
3
ECTS
- Market analysis
- Developing a business plan
- Capital procurement (loans, venture capital)
- Human resource planning and capacity utilisation
- Business valuation
- Fundamentals of investment appraisal
- Fundamentals of internal and external accounting
Management Accounting
3
ECTS
- Managerial accounting and global business environment
- Cost term, terms and classifications
- Systems design: Job-order costing
- Systems design: Process costing
- Cost-volume-profit relationships
- Sustainability and ethics in accounting decision making
Management Accounting
3
ECTS
- Managerial accounting and global business environment
- Cost term, terms and classifications
- Systems design: Job-order costing
- Systems design: Process costing
- Cost-volume-profit relationships
- Sustainability and ethics in accounting decision making
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
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
Programming & 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
Programming & 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
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.
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.
Internship or Study Abroad
10
ECTS
You can choose between an internship (lasting at least eight weeks) or a semester abroad at one of our partner universities.
Internship or Study Abroad
10
ECTS
You can choose between an internship (lasting at least eight weeks) or a semester abroad at one of our partner universities.
Integrative Case Studies
3
ECTS
- Focused review of the curriculum content
- Pre-assessment quiz/ content area assessment as benchmark for students’ status quo
- Guide and Strategic Plan to Case Study Analysis
- Writing a proper Case Study Analysis report
- Developing proper answers to Case questions, applying the relevant theoretical knowledge and frameworks
- In-depth Case Study Analysis with focus all subject areas of the curriculum
- In-depth Case Study Analysis with special focus on Strategic Management
Integrative Case Studies
3
ECTS
- Focused review of the curriculum content
- Pre-assessment quiz/ content area assessment as benchmark for students’ status quo
- Guide and Strategic Plan to Case Study Analysis
- Writing a proper Case Study Analysis report
- Developing proper answers to Case questions, applying the relevant theoretical knowledge and frameworks
- In-depth Case Study Analysis with focus all subject areas of the curriculum
- In-depth Case Study Analysis with special focus on Strategic Management
Master Thesis
18
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.
Master Thesis
18
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.
Venture Lab
4
ECTS
- Discovering and evaluating entrepreneurial opportunities
- Developing business ideas from opportunities (e.g. based on using Design Thinking, Personas and User Stories).
- Feasibility analysis of business ideas<
- Transferring the idea into a Business Model
- Business Model and its building blocks (value proposition, customers segments, channels, customer relationships, revenue model, key partners, key activities, key resources, cost structure)
- Business Plan: Introduction, Sample Case and General Outline
- Developing the details of the business plan
- Finding sources of financing: Business angels; Private equity; Start up financing; Venture capital investors<
- Preparing a pitch deck for successfully presenting the new venture business plan
Venture Lab
4
ECTS
- Discovering and evaluating entrepreneurial opportunities
- Developing business ideas from opportunities (e.g. based on using Design Thinking, Personas and User Stories).
- Feasibility analysis of business ideas<
- Transferring the idea into a Business Model
- Business Model and its building blocks (value proposition, customers segments, channels, customer relationships, revenue model, key partners, key activities, key resources, cost structure)
- Business Plan: Introduction, Sample Case and General Outline
- Developing the details of the business plan
- Finding sources of financing: Business angels; Private equity; Start up financing; Venture capital investors<
- Preparing a pitch deck for successfully presenting the new venture business plan
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.
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.
Interdisciplinary Elective
3
ECTS
By choosing Interdisciplinary Electives in the second and third semester you can personalize your degree course and extend your management knowledge. An interdisciplinary elective is an elective from another discipline than your own specialization.
Interdisciplinary Elective
3
ECTS
By choosing Interdisciplinary Electives in the second and third semester you can personalize your degree course and extend your management knowledge. An interdisciplinary elective is an elective from another discipline than your own specialization.
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.
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.
Business Elective
3
ECTS
A business elective is a business or management-related elective course.By choosing Business Electives in the second and third semester you can personalize your degree course and extend your management knowledge.
Business Elective
3
ECTS
A business elective is a business or management-related elective course.By choosing Business Electives in the second and third semester you can personalize your degree course and extend your management knowledge.
Value Based Management
3
ECTS
- Value maximization and corporate objectives, shareholder value and stakeholder value approach
- Financial measurement of corporate strategies and competitive advantage: the principles
- Shortcomings of traditional profitability ratios for a value-based management
- Economic Value Added, Cash Value Added
- Identifying the drivers of value creation and investment decision-making
- Management compensation and incentives for value creation
Value Based Management
3
ECTS
- Value maximization and corporate objectives, shareholder value and stakeholder value approach
- Financial measurement of corporate strategies and competitive advantage: the principles
- Shortcomings of traditional profitability ratios for a value-based management
- Economic Value Added, Cash Value Added
- Identifying the drivers of value creation and investment decision-making
- Management compensation and incentives for value creation
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
- Socially responsible investments
- Corporate governance in different regions
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
- Socially responsible investments
- Corporate governance in different regions
International Project Management
2
ECTS
- 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
International Project Management
2
ECTS
- 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
Corporate Social Responsibility
3
ECTS
- Cornerstones of sustainable management
- CSR as management approach
- Practical approaches of organizational effectiveness
- Tools for CSR implementation
- CSR and financial performance
- Life cycle assessment
Corporate Social Responsibility
3
ECTS
- Cornerstones of sustainable management
- CSR as management approach
- Practical approaches of organizational effectiveness
- Tools for CSR implementation
- CSR and financial performance
- Life cycle assessment
Sustainable Supply Chain Management
3
ECTS
- Defining the state of a sustainable supply chain based on actual trends
- Discussion of various theoretical concepts (e.g. Stakeholder Theory, Slack Resource Theory) and their implications for sustainable supply chain management
- Defining a “New Normal” of how to do business (e.g. circular economy, regenerative business models, carbon literacy training)
- Sustainable Marketing (definition, Green Marketing Strategy Mix, Green Washing and Sustainable Consumer Buying Behaviour)
- Sustainable Procurement (definition, Sustainable Procurement Process Model with a focus on sustainable supplier relationship management; new trends like circular procurement)
- Sustainable Logistics
- Sustainable Design
- Carbon Emission / Human Rights in global supply chains
Sustainable Supply Chain Management
3
ECTS
- Defining the state of a sustainable supply chain based on actual trends
- Discussion of various theoretical concepts (e.g. Stakeholder Theory, Slack Resource Theory) and their implications for sustainable supply chain management
- Defining a “New Normal” of how to do business (e.g. circular economy, regenerative business models, carbon literacy training)
- Sustainable Marketing (definition, Green Marketing Strategy Mix, Green Washing and Sustainable Consumer Buying Behaviour)
- Sustainable Procurement (definition, Sustainable Procurement Process Model with a focus on sustainable supplier relationship management; new trends like circular procurement)
- Sustainable Logistics
- Sustainable Design
- Carbon Emission / Human Rights in global supply chains
Strategic Analysis & Management
3
ECTS
- Strategy making process and strategic reasoning: cognitive process of strategy
creation through the prism of logic and intuition - Setting strategic purpose in the context of responsible stakeholder management
- Advanced external environment analysis: markets, industries and competitive
landscapes in static and dynamic perspective in the domestic and international
context - Diagnosing and managing strategic capability through national borders over time
- Cultural and institutional context of strategic management: concepts, frameworks
and analytical tools - Generic and interactive business strategies, inside-out and outside-in perspective on
achieving and sustaining competitive advantage internationally - Network-level strategies
- Corporate development and configuration: strategic options and portfolio matrices
- Strategy formation
- Strategic change and corporate restructuring
- Strategic renewal
- Strategy evaluation and strategic controls: tools and methods
- Organizing for success
Strategic Analysis & Management
3
ECTS
- Strategy making process and strategic reasoning: cognitive process of strategy
creation through the prism of logic and intuition - Setting strategic purpose in the context of responsible stakeholder management
- Advanced external environment analysis: markets, industries and competitive
landscapes in static and dynamic perspective in the domestic and international
context - Diagnosing and managing strategic capability through national borders over time
- Cultural and institutional context of strategic management: concepts, frameworks
and analytical tools - Generic and interactive business strategies, inside-out and outside-in perspective on
achieving and sustaining competitive advantage internationally - Network-level strategies
- Corporate development and configuration: strategic options and portfolio matrices
- Strategy formation
- Strategic change and corporate restructuring
- Strategic renewal
- Strategy evaluation and strategic controls: tools and methods
- Organizing for success
Language & Communication Skills
2
ECTS
The “Scholarly Writing and Analysis” course is offered for German native speakers. German as a foreign language is offered as an obligatory course for Non-native German speakers.
Language & Communication Skills
2
ECTS
The “Scholarly Writing and Analysis” course is offered for German native speakers. German as a foreign language is offered as an obligatory course for Non-native German speakers.
Innovation Management & Digital Transformation
3
ECTS
- Diagnosing the change context: diffusion and dynamics of innovation
- Sources & types of innovation
- Product/service, process & business model innovation
- Individual and corporate creativity
- Strategic innovation management & the innovation process incl. New Product Development (NPD)
- Introduction to digitalization, digital age & digital divide
- Digital drivers & disruptive forces
- Technological drivers of digital transformation
- Socio-technological change associated with the adoption of the mentioned drivers
- Introduction to the digital organization & digital business models
- Impact of digitalization on the value chain (Industry 4.0)
- Digitalization-related innovation theories & technology management
- Digitalization leadership & organisational transformation concepts
- Change management & transformational leadership
- Agility and VUCA world
- SCRUM and Design Thinking
Innovation Management & Digital Transformation
3
ECTS
- Diagnosing the change context: diffusion and dynamics of innovation
- Sources & types of innovation
- Product/service, process & business model innovation
- Individual and corporate creativity
- Strategic innovation management & the innovation process incl. New Product Development (NPD)
- Introduction to digitalization, digital age & digital divide
- Digital drivers & disruptive forces
- Technological drivers of digital transformation
- Socio-technological change associated with the adoption of the mentioned drivers
- Introduction to the digital organization & digital business models
- Impact of digitalization on the value chain (Industry 4.0)
- Digitalization-related innovation theories & technology management
- Digitalization leadership & organisational transformation concepts
- Change management & transformational leadership
- Agility and VUCA world
- SCRUM and Design Thinking
Empirical Research Methods
3
ECTS
- Development of a research question
- Primary vs. secondary data
- Steps of research process
- Research designs
- Quantitative and qualitative data
- Structured methods of data collection: questionnaire and structured interview
- Un- and semi-structured methods: qualitative interview and focus group
- Quantitative and qualitative content analysis
- Ethical considerations of data collection
- Sampling
- Data analysis using statistical software programs (SPSS)
- Univariate analysis, bivariate analysis (crosstab and correlation), multiple linear regression
- Writing a research report – structural and other formal requirements
Empirical Research Methods
3
ECTS
- Development of a research question
- Primary vs. secondary data
- Steps of research process
- Research designs
- Quantitative and qualitative data
- Structured methods of data collection: questionnaire and structured interview
- Un- and semi-structured methods: qualitative interview and focus group
- Quantitative and qualitative content analysis
- Ethical considerations of data collection
- Sampling
- Data analysis using statistical software programs (SPSS)
- Univariate analysis, bivariate analysis (crosstab and correlation), multiple linear regression
- Writing a research report – structural and other formal requirements
Business Economics
3
ECTS
- Analysis of demand, supply, and market equilibrium
- Theory of consumer choice
- Theory of the firm, production and cost analysis
- Market structures: perfect competition, monopoly, monopolistic competition, oligopoly, contestable markets
- Game theory
- Pricing strategies
- Factor markets, labor economics
- Economics of information
- Industrial organization
- Limitations of markets and interventions by the government
- Econometric techniques related to these topics
Business Economics
3
ECTS
- Analysis of demand, supply, and market equilibrium
- Theory of consumer choice
- Theory of the firm, production and cost analysis
- Market structures: perfect competition, monopoly, monopolistic competition, oligopoly, contestable markets
- Game theory
- Pricing strategies
- Factor markets, labor economics
- Economics of information
- Industrial organization
- Limitations of markets and interventions by the government
- Econometric techniques related to these topics
Why CBS UNIVERSITY
Your path to CBS
Starting your studies at CBS University of Applied Sciences is as unique as you are – and at the same time, completely hassle-free. With our user-friendly online application process, you can apply from anywhere, with no numerus clausus restrictions. Instead of rigid admission requirements, we focus on a personal selection process that highlights your strengths and potential.
Whether you choose a dual, part-time, or full-time programme, CBS University offers the perfect combination of theory and practice.

Admission requirements
The Zugangsvoraussetzungen für dein Master-Studium an der CBS University of Applied Sciences variieren je nach Studiengang . into your studies at CBSSciences is so Like yourself — and at the same time designed. With our easy to use Can you yourself apply, completely without . Instead of staring Waiting for you with us is a that is your strengthsand focuses on potential. Regardless of whether you opt for dual, part-time or full-time study, the CBSUniversity offers you the of
Deadlines
The application deadline is year round open, even before you graduate from high school. For dual study programs, you should sufficient lead time Plan so that we can find your suitable practice partner. The start of studies is flexible: in the winter semester or, for selected programs, also in the summer semester. One early candidature is particularly important for limited study places secure and apply for any necessary visas in good time.
funding
A dual or part-time study Is often used by the Practice partner financed, which is also a valuable occupational provides accompaniment. A full-time study On the other hand, can be achieved by numerous Funding opportunities like BAföG or stipends Personalize to give you an optimal connection of personal Development and academic To make the future possible.
HANDS-ON LEARNING AT ITS BEST
At CBS, we are committed to seamlessly integrating theory and practice, allowing you to apply your knowledge directly and gain valuable insights into the real working world.
Business Projects
Im Rahmen der Business Projects an der CBS International Business School haben Studierende die Möglichkeit, gemeinsam mit renommierten Unternehmen an realitätsnahen Projekten zu arbeiten. Diese praxisorientierte Lehrform verbindet theoretisches Wissen mit konkreten wirtschaftlichen Fragestellungen und gewährt tiefe Einblicke in berufliche Abläufe.
Unternehmenskooperation
Dank eines Netzwerks von über 1.300 etablierten Unternehmen aus diversen Branchen profitieren Studierende von exklusiven Einblicken in die Arbeitswelt. Diese Kooperationen eröffnen nicht nur spannende Perspektiven, sondern fördern auch die Entwicklung wichtiger Kontakte und bieten nachhaltige Karrieremöglichkeiten.
Praktikum/Berufserfahrung
Ob in Form von Pflichtpraktika, die fester Bestandteil vieler Studiengänge sind, oder durch die Integration von Berufserfahrung in duale und berufsbegleitende Programme: Du kannst dein Fachwissen direkt in der realen Arbeitswelt anwenden.
HOW DO I FIND MY PERFECT CAREER PATH?
The Career Service and Talent Development team at CBS support you in finding your ideal partner company. With 1:1 coaching, workshops, and a wide network of corporate partners, we guide you throughout your entire time at university. Together, we’ll develop a strategy that matches your strengths and career goals.

Ablauf und Präsenzzeiten deS Masterstudiums


Inspiration and Impact – What Our Alumni Say
Let yourself be inspired by the experiences of our alumni and discover how the Master’s degree at CBS has shaped their professional and personal development.
FAQ: The most important questions about studying Global Finance
Here you can find answers to all important questions all around your Global Finance master's degree. If you have any further questions, feel free to contact us at any time.
What is Global Finance?
The Master’s in Global Finance provides comprehensive knowledge in international financial markets, risk management, and investment strategies. Students learn how to analyse global economic challenges and develop innovative financial solutions.
Why should you study the Global Finance Master’s programme?
This programme prepares you for an international career in the finance sector. With a global focus on financial strategy and management, you can work in banks, multinational corporations, or consulting firms.
How long does the Global Finance Master’s programme last?
The Master’s in Global Finance typically lasts 4 semesters (2 years) and concludes with the award of a Master of Science (M.Sc.).
Does the Global Finance Master’s programme have a Numerus Clausus (NC)?
There is generally no NC for the Global Finance Master’s programme. Admission is based on your academic background and relevant professional experience.
What are the admission requirements for the Global Finance Master’s programme?
Applicants need a recognised Bachelor’s degree in business administration, finance, or a related field. Since the programme is fully taught in English, strong English skills are required.
How is the Global Finance Master’s programme structured?
The programme combines theoretical lectures with practical projects and case studies. Students work on international finance projects and gain hands-on experience with global financial institutions.
Where can I study the Global Finance undergraduate programme?
The Global Finance Master’s programme is offered at the Cologne campus.
What will I learn in the Global Finance Master’s programme? What are the core subjects?
Key study areas include Financial Analysis, International Accounting, Portfolio Management, Financial Technologies (FinTech), Risk Management and Sustainable Financial Strategies.
How much can you earn after completing your Global Finance studies?
Graduates typically earn between €50,000 and €80,000 per year, depending on the industry and job role.
Can I write my Master’s thesis in collaboration with a company during the Global Finance studies?
Yes! In the final semester, you can either spend a semester abroad or complete a corporate internship, providing the perfect opportunity to write your Master’s thesis with a business focus.
Any questions? We're here to help
Do you have any questions about our bachelor's or master's degree programs? Our Student Advisory team is here to support you! Schedule your personal consultation—online or in person—for tailored, non-binding guidance on finding the right study program for you.
