Master

Lecture and Exercise (6 ECTS, 4 Sh)

The course is offered in the winter term.

Targets:

Students know the financial system and its main players and understand the relations between different financial instruments. They have in-depth knowledge of derivatives, i.e., forwards, futures, options, as well as interest rate and credit derivatives. They are able to price them and use them in different ways in the context of financial and risk management.

Content:

Overview of the financial system and financial institutions (banks, insurance companies, mutual funds, hedge funds and ETFs), different types of securities, basic valuation principles in financial markets, relation between different financial instruments, international currency markets and parity conditions, Introduction to options, forwards, and futures, pricing of options in the binomial model and the Black-Scholes model, interest rate and credit derivatives, risk management.

Contact person: Alexander Götz

Lecture and Exercise (6 ECTS, 4 Sh)

The course is offered in the summer term.

Targets:

Students have in-depth knowledge of the valuation of firms. They understand the necessary accounting information and can critically review a company's key performance metrics. Students are able to forecast future cash flows that are necessary for the valuation of a firm. They can determine risk-adequate cost of capital. Students can apply different approaches to value a company and understand the specific assumptions and limitations of the models.

Content:

Analysis of financial statements to determine and forecast cash flows of companies, Du Pont analysis, models to determine the cost of capital, intrinsic valuation methos (Dividend Discount Model, Firm Free Cash Flow Model, Adjusted Present Value Model), relative valuation using multiples, real options approach.

Contact person: Marius Schmidt

Seminar (6 ECTS, 2 Sh)

The seminar is offered in the summer and in the winter term.

Targets:

The students are able to structure independently complex tasks from the area of Financial and Risk Management and to develop proposals for solution for it.

Content:

Changing contents.

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