Master in Finance | IE Business School

Master in Finance

A 10-month finance program developed by capital markets professionals that prepares students for the CFA level I exam.

  • Length:
    10 months
  • Label:
    Masters in Finance
  • Profile:
    Pre-experience
  • Language:
    In English
  • Format:
    Full-time
  • Go to program
BrochureBrochure

At a Glance

The Master in Finance affords up-to-the minute knowledge in the most innovative areas of finance, such as: securitization, swaps, commodities, equity derivatives, leveraged buy-outs, geopolitics, behavioral finance, risk governance, and Islamic finance.

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New York Trip what does this mean?
Pre Program
Pre-Program

Introduction to General Program.

Intake 1:
AUG - SEP

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

Courses
Extend
1st Period
Period 1

Induction to Finance

Intake 1:
SEP - DIC

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

Trip to New York (Jan) 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.
  • 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.
  • 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”.
  • 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.
  • 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.
  • 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.
  • Financial Accounting & Analysis (FAA) This course will explore the main items within corporations’ financial statements and how financial information is communicated to external parties.
  • 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.
  • 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.
  • Presentation Skills (APP) The course will develop the student’s personal communication style and provide them with a toolbox that will allow them to see this key leadership skills from various angles.
  • Financial Maths Programming (APP) This course introduces numerical methodologies and computer programming as a means to solve complex financial problems.
  • 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.
  • Derivatives & Risk Management (DRV) This course analyzes the foundations of derivatives, their valuation, and how they are used to manage risk and for investment decisions.
  • 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
Period 2

Specialty Finance

Intake 1:
JAN - APR

Following an initial phase during which you take courses covering general finance,  the second period will see you focusing your studies within a range of areas such as private equity and equity derivatives.

Courses
  • New York Trip (January, optional) You will meet with professionals from key financial institutions. The trip enables you to get up close and personal with the top specialists in the industry, as well as to visit the floor of the NYSE.
  • Investment Game - Period II Please see course description of Investment Game Period I.
  • Advanced topics in World Economy (ECO) The course provides the analytical tools and background information required to reach an informed opinion on different positions in the current economic debates.
  • Historical Episodes in the Financial Markets (INV) This course analyses the main financial crises in the markets and will explore the lessons to be learned to avoid such events occuring in the future.
  • Foreign Exchange Markets (CFI) The focus of this course is on the unique problems encountered by the international treasurer or chief financial officer in multinational corporations. Special attention is given to risk management.
  • Microfinance (APP) The course covers the relationship between finance and sustainable development. Finance offers the asset management industry a wide range of tools to collaborate with sustainable development.
  • CFA Exam Preparatory Sessions You will attend CFA level I exam preparation classes, unless you have already passed this exam before beginning the Master.
  • IE Titans of Finance Conferences See the course description in period I.
  • Economic Update Sessions See the course description in period I.
  • Negotiation (APP) Negotiation will explore the theoretical and practical foundations of a successful negotiation process aimed at developing your capacity and ability to negotiate.
  • Strategic Macro Economics for Investors (ECO) This course will provide you with a framework to understand how macroeconomic variables and government actions affect business activity and investment decisions.
  • 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 through interacting with the buy side.
  • Quantitative Finance II (APP) This course provides you with a working methodology and a solid knowledge base for the use of statistical and econometrical tools in finance.
  • Advanced Corporate Finance A critical analysis of the different equity valuation methodologies, with their advantages and disadvantages in different scenarios and contexts within the capital markets is essential for all working in finance.
  • Portfolio Management (INV) The course covers the main implications of asset management in main asset classes: equities, bonds, and alternative investments.
  • Fixed Income Derivatives: Flow & Structured Products (DRV) This course explores fixed income structured products, not only the plain vanilla variety (flow) but the more exotic, structured products. The course also analyses hybrid instruments and securitizations.
  • Employability in Finance Please see the course description in Period I.
Extend
3rd period
Period 3

Applied Finance & Electives

Intake 1:
APR - JUN

In this last period you will have the option to tailor your studies by choosing  electives that concentrate on specific areas of finance such as corporate finance, equities, fixed income, or private equity. Students from the Masters in Finance will have the chance to study with students from the Masters in Advanced Finance, expanding your perspectives and enabling you to build up a wider network.

Courses
  • Employability in Finance See the course description in Period I.
  • Elective: Financing Entrepreneurial New Ventures The objective of this course is to expose you to the many aspects 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 & Asset Allocation (ECO) Providing a close look at the real challenges faced by chief investment officers when allocating savings in global portfolios, this course examines large global flows based on top-down investment.
  • Elective: Commodities Markets (INV) As well as learning about the main types of commodities, this course will also explore the main options used to trade commodities or to hedge commodities risk.
  • Elective: Arbitrage Strategies (INV) The course looks at the balances between the micro and macro dimensions of managing a commercial bank, as well as emphasing the international dimension of banking in the context of ongoing financial globalization.
  • Elective: Islamic Finance (INV) As Gulf investors have become pivotal actors in the world’s capital markets Islamic finance is becoming an increasingly important field of investment.
  • Elective: Hedge Funds (INV) This course explores the hedge fund industry: what is and what is not a hedge fund; industry basics; financing sources; the main strategies employed by hedge fund; and remuneration structures.
  • Elective: Mergers & Acquisitions (CFI) This course puts into practice the knowledge you have 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) Large corporations can achieve significant value creation by deep restructuring: this course looks at how these opportunities can 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 tricks used by creative accountants, and teaches you how to lay “accounting minefields” to identify and neutralize them.
  • IE Titans of Finance Conferences See the course description in Period I.
  • Elective: Behavioral Finance (INV) Psychology plays a pivotal role in the pricing of assets. The course looks at how human psychology affects the way the markets work. For example, on rainy days the stock market underperforms, while it tends to be bullish when the sun shines.
  • Elective: Private Banking and Managing Private Wealth (INV) Wealth management has become an increasingly important and sophisticated niche market, attracting growing numbers of financial firms. This course will analyze the evolution of the phenonmenon, and what you can get out of it.
  • Elective: Real Estate Investment (CFI) This course explores the different approaches to extracting value from the real estate sector. It also explores the mechanisms used to select a real estate investment.
  • Elective: Project Finance (CFI) This course focuses on 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: Equity Capital Markets This course gives an overview of how industrial corporations, as opposed to financial institutions, can and do use derivatives strategically.
  • Elective: Venture Capital This 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 the microeconomic underpinnings of global energy demand and the economic opportunities of a global transition to a clean energy future, as well as the banking and administrative aspects of “green deals”.
  • Elective: Exotic Options The course will introduce students to the universe of exotic options and hybrid products, from a business oriented perspective.
  • Investment Game - Period III See the course description in Period I.
  • CFA Practice Exam
  • Final Exam You can choose one of four options: Academic Case Studt, Equity Research and IPO Valuation Project; Academic Research, or a case on Microfinance under the supervision of a microfinance expert.
  • Elective: Investing in Emerging Markets (ECO) Focusing on the BRICS nations, this course identifies the tools we can use to invest in these emerging economies, as well as looking at derivatives such as hedge investments.
  • Elective: Auditing This course equips you with a comprehensive understanding of the process of auditing: it teaches you the skills to carry out an audit, and thus preparing you for the auditors’ visit.
  • Elective: Derivatives Accounting 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 & Volatility (DRV): This course concentrates on equity derivatives markets, along with the range of products and strategies available for corporations and investors to trade through derivatives.
Extend

The Program Structure

The Syllabus

The program is divided into three periods. In the first two periods, students are required to mandatorily take all subjects. In the third period, however, they have the option of choosing electives according to their preferences.

The Master in Finance electives include many of the most fashionable topics in finance, in order to meet the needs of students who wish to work in these specific areas in the future. These electives allow students to develop their own career strategy, and adapt the program according to market and company requirements.

Trip to New York (optional)

CFA Level I Preparation

Preparatory classes for the CFA I are mandatory for students of the Master in Finance program. We are confident that this will have many benefits for our students with regards to career opportunities.

IE Master in Finance students have five scholarships available per calendar year to enable them to take CFA level I. Every year, five students will be selected to take part in the CFA Research Challenge.  

Dual Degree: Master in International Management + Master in Finance

Dual Degree: Master in International Management + Master in Finance

The Dual Degree combines IE’s prestigious Master in International Management program with the sophisticated and deep financial education provided by the Master in Finance. Our Master in International Management covers all the core fields of business such as entrepreneurship, strategy and accounting, whereas our Master in Finance looks at cutting edge fields such as corporate social investment, securitization, leveraged buyouts, behavioral finance and Islamic finance.

Dual Degree students will graduate in 17 months and start the Master in International Management from February to July and then, instead of taking the specialization course of Sales & Marketing, International Business or Digital Business in their 3th period (September – December), they will join the complete Master in Finance program from September to June of the following year.

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