Master in Advanced Finance | IE Business School

Master in Advanced Finance

A one-year finance program developed by capital market professionals in line with the demand of the finance recruiting market.

  • Length:
    12 months
  • Label:
    Masters in Finance
  • Profile:
    Professional
  • Language:
    In English
  • Format:
    Full-time
  • Go to program
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At a Glance

The Master in Advanced Finance program equips participants with an education that can play a pivotal role in increasing candidate appeal in the recruitment process for leading financial institutions including investment banks, hedge funds and private equity firms. The program gives up-to-the minute knowledge in the most innovative areas of finance today such as securitization, swaps, commodities, equity derivatives, leveraged buy-outs, geopolitics, behavioral finance or value at risk or Islamic finance. 

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Pre Program
1 week
Pre- program (optional)

Introduction to General Program

Intake 1:
NOV-DEC

Before the program starts we offer a host of additional opportunities and pre-programs that you can participate in.

Courses
Extend
1st period
1 week
First Period

Induction to Finance

Intake 1:
JAN - APR

The first period is an induction to finance module, where you will apprehend the key concepts of finance, financial markets, investment banking, financial analysis and world economy. Its comprehension is key to understanding the courses comprised in the second and third periods.

Courses
  • Foundations of Financial Theory The course presents a review of the basic financial concepts, such as arbitrage, market efficiency, risk and preferences, that will set the foundations required to progress on core areas of a Master in Finance.
  • Financial Modeling (APP) The course will deal with the effective use of the spreadsheet as a basic tool for financial analysis, data modeling, construction of financial models and specific tools oriented to financial analysis.
  • Quantitative Finance I (APP) This course provides students with a working methodology and a solid knowledge base for the use of statistical and econometrical tools in finance.
  • Strategic Macroeconomic for Investors (ECO) This course will provide students with a framework to understand how macroeconomic variables and government actions affect business activity and investment decisions.
  • Fixed Income Fundamentals (INV) This course is a practical analysis of how bonds are traded in financial markets and the key determining factors of their performance and valuation.
  • Economic Update Sessions Held monthly, these lectures are given by our Academic Director in order to update our students of the most important financial issues that happen in that month.
  • IE Titans of Finance Conferences Held bi-monthly, the conferences are given by the top experts in the finance sector at IE Campus, with such topics as: Cross border M&A transactions for smaller businesses; Wealth Management Industry.
  • Employability in Finance This course offers a wonderful opportunity to develop the management skills and competences required to improve your “employability” as well as your “ market value” .
  • Financial Maths Programming (APP) This course introduces numerical methodologies and computer programming as a means to solve complex financial problems.
  • Introduction to Capital Markets (INV) This course covers a broad range of topics such as the structure & divisions of investment banks, the main role each division performs and their links with the different capital markets.
  • Financial Accounting and Analysis (FAA) This course will explore the main items within corporations’ financial statements and how financial information is communicated to external parties.
  • Introduction to Capital Markets (INV) This course covers a broad range of topics such as the structure & divisions of investment banks, the main role each division performs and their links with the different capital markets.
  • Investment Game - Period I In this course, student will have to build equity, bonds and currency portfolios simulating real life experiences and using live market data.
  • Derivatives and Risk Management (DRV) This course explores fixed income structured products, not only the plain vanilla ones (flow) but the most exotic structured products. The course also analyses hybrid instruments and securitizations.
  • Corporate Finance (CFI) This course explores the foundations of financial theory through of the analysis of the financial situation of a business and drivers of the cost of capital, the evaluation of capital investment decisions.
Extend
2nd period
1 week
Second Period

Specialty Finance & Electives

Intake 1:
APR-JUN

Following a first period in which you follow courses in general finance, on the second period you will focus your studies in areas as private equity and equity derivatives. Also, you have the option of choosing your electives, enabling you to customize your studies according to your desired future career path.

Courses
  • Portfolio Management (INV) The course covers the main implications of asset management in main asset classes: equities, bonds and alternative investments.
  • Elective: Commodities Markets (INV) This is where participants learn about the main types of the increasingly important commodities. The course also explores the main options used to trade commodities or to hedge commodities risk.
  • Elective: Arbitrage Strategies (INV) The course balances the micro and macro dimensions of managing a commercial bank and will emphasize the international dimension of banking in the context of ongoing financial globalization.
  • Elective: Islamic Finance (INV) Islamic finance is becoming an increasingly important field of investment as Gulf investors have become pivotal actors in the world’s capital markets.
  • Elective: Hedge Funds (INV) This course explores the hedge fund industry, what is and what is not a hedge fund, the industry basics, its financing sources, the main strategies employed by hedge funds, remuneration structures.
  • Elective: Mergers & Acquisitions (CFI) This course puts into practice the knowledge acquired in the different corporate finance and valuation courses and explores how deal making is structured from the point of view of corporate financiers.
  • Elective: Creating Value through Corporate Change (CFI) This course covers the value creation that large corporations can achieve by deep restructuring, and how these opportunities should be identified by the financial markets.
  • Elective: Private Equity (CFI) This course explores the role of private equity institutions in today’s markets. It covers how the private equity industry is structured, its financing, its methodology and its approach to investing and divesting.
  • Elective: Creative Accounting and Valuation This course deals with the main accounting games that companies practice, by offering “accounting minefields” where these can be identified, and providing main defense mechanisms to neutralize them.
  • Elective: Behavioral Finance (INV) Psychology plays a pivotal role in the pricing of assets. During rainy days the stock market underperforms in comparison with sunny days. How human psychology affects these variables will be covered in this course.
  • Elective: Private Banking and Managing Private Wealth (INV) Wealth management has become an increasingly important and sophisticated industry, as many financial firms compete to capture and manage the wealth of rich people. This course will analyze evolution of the process.
  • Valuation & Equity Research (INV) The course explains the foundations of the sell side process within the equities world by focusing on how analysts look at listed companies and build their valuation models interacting with the buy side.
  • Elective: Real Estate Investment (CFI) This course will analyze the different financial angles associated with extracting value from the real estate sector. It also explores the mechanisms used to select a real estate investment.
  • Elective: Equity Capital Markets This course gives an overview of how industrial corporations, as opposed to financial institutions, can and use derivatives in a strategic way.
  • Elective: Project Finance (CFI) This course analyzes the project finance operations process from the perspective of the provider of capital and that of the user of capital.
  • Elective: Social Responsible Investment (APP) This course covers the current relationship between finance and sustainable development.
  • Elective: Corporate Derivatives His course gives an overview of how industrial corporations, as opposed to financial institutions, can and use derivatives in a strategic way.
  • Elective: Venture Capital his course provides an overview of venture capital from the perspective of both the entrepreneur and the venture capitalist.
  • Elective: Investing in Climate Change Students will learn about: microeconomic underpinnings of global energy demand and the economic opportunities of a global transition to a clean energy future; banks area and departments involved in “green deals”.
  • ELECTIVE - Exotic Options The course will introduce students to the universe of exotic options and hybrid products, from a business oriented perspective.
  • Advanced Corporate Finance Advanced Corporate FinanceA critical analysis of the different equity evaluation methodologies, with their advantages and disadvantages in different scenarios and contexts within the capital markets.
  • ELECTIVE - Investing in Emerging Markets (ECO) This course will give a special focus on BRICs, the tools we can use to invest, how easy it is to invest and hedge (using derivatives) in these countries.
  • ELECTIVE - Auditing This course allows students, who will be in charge of the audit at the client-end, to acquire a comprehensive understanding of the process of auditing, prepare for the auditors’ visit to run an efficient audit.
  • ELECTIVE - Derivatives Accounting The course will cover the subjectivity of derivatives accounting, the main inputs impacting the valuation of these structures and the accounting rules governing them under US GAAP and IFRS.
  • ELECTIVE - Equity Derivatives and Volatility (DRV) ELECTIVE - Equity Derivatives and Volatility (DRV)This course concentrates on equity derivatives markets, along with the range of product and strategies available for corporations and investors to trade through derivatives.
  • ELECTIVES - Financing Entrepreneurial New Ventures The objective of this course is to expose students to the many dimensions of venture creation and to provide the tools needed to launch a new venture as a stand-alone business or as a unit of a larger corporation.
  • ELECTIVE - Macroeconomics and Asset Allocation (ECO) This course takes a look at the real challenges faced by chief investment officers when allocating savings in global portfolios. It will examine the big global flows based on top down investment.
Extend
3 rd period
1 week
Third Period

Applied Finance & Electives

Intake 1:
SEP-DEC

In the third period you will be able to take very specialized finance courses, only open for Master in Advanced Finance students. Students of International MBA Program (November intake) can also join these electives.

Courses
  • Advanced Corporate Finance (CFI) This course will explore the advanced foundations of financial theory by analyzing the financial situation of a business, evaluating capital investment decisions, examining capital cost drivers.
  • Investment Game - Period II & III Please see course description of Investment Game Period I.
  • Final Exam One of the options of: Academic Case, Equity Research and IPO Valuation Project, Academic Research OR a case on Microfinance under the supervision of the microfinance expert).
  • Measurement and Evaluation of Risk (INV) This course will analyze the history of value at risk (Basel & Cooke Standards, Basel II), its calculations and its main applications and shortcoming in the markets.
  • Institutions of International Financial Stability This course will review the changes in the structure of our financial systems and how the far simpler structures of the past have dissolved and have been reformulated in a much fuzzier and complicated fashion.
  • Risk Governance This course focuses on the identification of risk. The objective is to lead students to discuss the different types of risk generally accepted.
  • Distress Investment: Valuation & Management In this course, students learn through a real example the valuation and management of distressed assets.
  • Technical Analysis This course is aimed at understanding the different aspects of the Technical Analysis tool for the purpose of managing a securities portfolio.
  • Equity Strategy This course will discuss the main equity investment strategies utilized in the financial industry. It aims to give you practical insights into what strategies are more effective than others and how to combined them.
  • Asset Liability Matching This course serves as an introduction to Asset Liability Management as it relates to its application in the finance industry.
  • Central Banks and Monetary Policy The course covers the role and workings of monetary policy, discusses the institutional setup and the instruments of the main central banks.
  • Fixed Income Derivatives: flow & structured products (INV) This course is a practical analysis of how bonds are traded in financial markets and the key determining factors of their performance and valuation.
  • Structured Products The course will analyze the increasing important hybrid instruments like a convertible bond a preference stock, or a perpetual bond, their use and their markets.
  • Debt Capital Markets This course deals with that aspect of investment banking concerned with the issuance of debt instruments.
  • Quantitative Finance II (APP) This course will provide students with a working methodology and a solid knowledge base for the use of statistical and econometrical tools in finance.
  • Negotiation (APP) Negotiation will explore the theoretical and practical foundations of a successful negotiation process in order to develop the student’s capacity and ability to negotiate.
  • Presentation Skills in Financial Markets (APP) The presentation skills course will develop the student’s personal communication style and provide them with a toolbox that will allow them to see this key leadership skill.
  • Employability in Finance Please see course description of Period I.
  • Multinational Finance, FX Markets & Derivatives (CFI) The focus of this course is on the unique problems encountered by the international treasurer or chief financial officer of multinational corporations.
  • Microfinance (APP) This course will cover the current relationship between finance and sustainable development.
  • Historical Episodes in the Financial Markets (INV) This course will analyze the main financial crises that have occurred in the markets and will try to explore the main lessons applicable to the future.
Extend

Program Syllabus

The Program Syllabus

This 12-month program made up of three periods, the first of which ensures a solid foundation knowledge of finance. The second period offers 3 mandatory subjects, along with over 20 electives shared with the Master in Finance students. The third period offers 11 mandatory subjects and more than 10 electives. The electives allow students to develop their career strategy and adapt the program to the requirements of both markets and companies.

CFA level I class (optional)

Students of the Master in Advanced Finance program have the option of attending CFA level I exam preparation classes from April to June (for Master in Finance students, these classes are mandatory).

Dual Degree: International MBA + Master in Advanced Finance

Dual Degree students start with the International MBA intake in April and will take the core courses of the IMBA from April-December, and instead of taking the elective courses during their last two periods, they will then join the MIAF program (which runs from Jan to December), making the Dual Degree possible in only 21 months.

IE Students - Chris
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