Finance & International Business – (M.Sc.)

Contents

Prerequisite courses

The programme is divided into four semesters. The two first semesters are each divided into two blocks.

The first semester creates the necessary foundation both methodologically and professionally for further studies of finance and international business.

• Applied Econometric Methods introduces you to the most widely used quantitative and empirical methods in econometrics, including in particular financial econometrics. The course has two major aims. Firstly, it provides you with tools which enable you to acquire the knowledge published in high quality publications within the areas of empirical finance and economics. Secondly, it equips you with tools for modelling and estimating econometric systems. The methods involved have been chosen with a view towards applications within empirical finance and economics.
• Corporate Finance deals with the financial problems of a company and various solution models will be introduced. Further issues are the interactions between the company and the financial markets, with special emphasis on valuation of the company in a capital market perspective.
• International Business Methods covers macro level (regional economic integration, e.g. the EU, trade barriers, etc.), company level (internationalisation and export market strategies, management of subsidiary companies, etc.) and individual level interaction between people of different professional and cultural backgrounds.
• Internationalisation of the Firm provides you with an in-depth and detailed understanding of theories surrounding the internationalisation of businesses and the practical implications of these theories.

Specialisation courses

The second semester is devoted to more advanced studies within the two areas.

• International Financial Accounting focuses on the differences between the major international reporting regimes. Knowledge of these differences is of paramount importance for making valid comparisons of business performance to be used in the change management processes in international environments.
• International Management Control Systems introduces the theoretical framework used by the financial controller in connection with information-based strategic advice and managerial decision making.
• Advanced Corporate Finance studies corporate finance under asymmetric information and agency problems. Traditional agency theory and asymmetric information are used to revisit capital structure, dividend and capital budgeting policies. Focus is also on the role of governance systems under different ownership structures.
• International Business FinanceThe multinational firm is confronted with the task of operating internationally. This necessitates an understanding of the markets for products, factors of production, and financial assets. Operating internationally poses unique risks - one of these being the existence of fluctuating exchange rates. More generally, the global integration of money and capital markets implies opportunities as wells as challenges - both of which have to be considered by the multinational firm.

In the third semester you can choose elective courses within your areas of interest. The courses can either be taken at the Aarhus School of Business during the semester, at the ASB Summer University or at one of our more than 200 partner universities abroad. You can also participate in internship programmes either in Denmark or abroad.

The fourth semester is devoted to the final thesis. You may choose the topic of the thesis freely and in this way get a chance to concentrate on and specialise in a specific field of interest. The thesis may be written in collaboration with another student or it may be the result of your individual effort. When the thesis has been submitted, it is defended before the academic advisor as well as an external examiner.

Accreditation

After the Student life Section there should be a section called Accreditations , that should include the following information:

The former Aarhus School of Business, Aarhus University (ASB), is one of Europe's largest and best business schools, as is illustrated by the accreditations which ASB has earned in the past seven years. ASB has been EQUIS-accredited since 2001, and in January 2008 we were approved to initiate the AACSB accreditation process.

Proof of high quality and international focus

EQUIS and AACSB are the leading international quality systems for assessing, improving and accrediting institutions of higher education within the field of management and business administration. In order to live up to these accreditations, ASB must not only demonstrate that we are capable of high-quality performance, but also that our activities are internationally oriented. The accreditations are also proof that we have achieved a good balance between high academic quality and professional relevance through close collaboration with the national and international business communities.

These accreditations are vital for the institution to maintain and strengthen its position in an increasingly competitive sector. They are decisive for ASB's brand and for our ability to attract the right students, researchers and collaborative partners. The accreditations are renewed every three to five years, which ensures that we work on an ongoing basis to develop ourselves and to improve the quality of everything we do.

Facts about EQUIS, AACSB and AMBA accreditations

EQUIS stands for European Quality Improvement System, and accreditation is awarded by the EFMD (European Foundation of Management Development), whose members comprise leading business schools all over the world.

AACSB stands for Association to Advance Collegiate Schools of Business, and AASCSB International awards accreditation.
The accreditations are awarded to the entire institution – not just to individual programs or parts of the organization. Both accreditation systems maintain a significant focus on strategy.
AMBA stands for Association of MBAs , which is an independent international organization for MBA students, masters and employers. The AMBA accreditation is awarded to the entire institution but relates specifically to MBA programs. The purpose of AMBA is to secure high standards for MBA programs worldwide.

ACE Denmark

In August 2007, it was enacted that higher education study programs offered by the Danish University Act must be accredited by the Accreditation Institution - ACE Denmark. Accreditation is a professional assessment carried out using centrally set criteria for quality of existing and new courses. The purpose is to ensure and document quality and relevance of the higher education study programs.
According to the Danish University Act, the accreditation council is the specific unit, which makes the decisions regarding accreditation of all higher education study programs. Decisions are made on the basis of accreditation reports prepared by accreditation operators.