Module Catalogue - Technische Hochschule Nürnberg · PDF fileModule Catalogue (SPO 2012) WINTER SEMESTER ... 10 Module: Corporate Valuation ... Language of instruction English

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Master of Science

International Finance and Economics

Module Catalogue | Modulhandbuch

(SPO 2012)

SUMMER SEMESTER 2018

TH Nürnberg Georg-Simon-Ohm

Bahnhofstraße 87

D-90402 Nürnberg

Phone: +49-(0)911-5880-2721

Fax: +49-(0)911-5880-2884

[email protected]

Updated: March 2018

mailto:[email protected]

HiermannsbergerCl

Schreibmaschinentext

BW_0080_VO_Modulhandbuch_MIFEVers. 2, 22.03.2018, K. Eckstein

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Table of Contents 1. Overview: ................................................................................................................ 4

1.1 Compulsory Courses (for students who started BEFORE WS 2015-16) .............. 4

1.2 Compulsory Courses (for students who started IN/ AFTER WS 2015-16)............ 4

1.3 Electives ........................................................................................................... 5

2. Study Plan for students who started IN/ AFTER WS 2015-16: ............................... 6

2.1 Start Winter Term (suggestion only!) .................................................................... 6

2.1 Start Summer Term (suggestion only!) ................................................................. 6

3. Module Descriptions ............................................................................................... 7

Module: Global Management Foundations - Fundamentals of Financial

Management ........................................................................................................... 7


Management (continued) ........................................................................................ 8


Management (continued) ........................................................................................ 9

Module: Corporate Valuation and Value Based Management .............................. 10

Module: Corporate Valuation and Value Based Management (continued)............ 11

Module: International Capital Markets ................................................................... 12

Module: Global Financial Management - Global Financial Institutions & Investment

Banking ................................................................................................................. 13

Module: Global Financial Management - Global Financial Institutions & Investment

Banking (continued) .............................................................................................. 14

Module: Applied Quantitative Methods.................................................................. 15

Module: International Economics .......................................................................... 16

Module: Applied Research Project - Applied International Research Project ........ 17

Module: Electives – Mergers & Acquisitions ......................................................... 18

3

Module: Electives – Mergers & Acquisitions (continued) ....................................... 19

Module: Electives – Equity Financing and Private Equity...................................... 20

Module: Electives – Equity Financing and Private Equity (continued) ................... 21

Module: Electives – Equity Financing and Private Equity (continued) ................... 22

Module: Electives – Equity and Bond Investments ............................................... 23

Module : Electives – Case studies in Finance and Capital Markets ...................... 24

Module: Electives – Case studies in Finance and Capital Markets (continued) .... 25

Module: Electives – Financial Risk Management .................................................. 26

Module: Electives - Portfoliomanagement und Risiko ........................................... 27

Module: Electives - Portfoliomanagement und Risiko (continued) ........................ 28

Module: Electives - Bank and Credit Risk Management / Bank- und

Kreditrisikomanagement ....................................................................................... 29

Module: Electives - Bank and Credit Risk Management / Bank- und

Kreditrisikomanagement (continued) .................................................................... 30

Module: Electives - Derivatives ............................................................................. 31

Module: Electives – Derivatives (continued) ......................................................... 32

Module: Electives - Economics of Emerging Markets and Development .............. 33

Module: Electives - Behavioral Economics ........................................................... 34

Module: Electives - Behavioral Economics (continued)......................................... 35

Module: Electives - Strategic Management in a Global Context ........................... 36

Module: Electives - Controlling I (Internationales Unternehmenscontrolling) ........ 37

Module: Electives - Controlling II (Internationales Konzerncontrolling) ................. 39

4

1. Overview: 1.1 Compulsory Courses (for students who started BEFORE WS 2015-16)

Modules Sub modules SWS Examination Weighting in case of Sub

modules

ECTS

1. Global Management Foundations

1.1 International Financial Accounting 2 Kl;/StA;/ Ref;/Kol

1:1 6 1.2 Business Ethics 2

2. Applied Quantitative Methods

2. Applied Quantitative Methods 4

Kl;/StA;/ Ref;/Kol

6

3. International Capital Markets

3. International Capital Markets 4

Kl;/StA;/ Ref;/Kol

6

4. International Economics 4.

International Economics 4 Kl;/StA;/ Ref;/Kol

6

5. Global Financial Management

5.1 Global Financial Institutions and Investment Banking

4 Kl;/StA;/ Ref;/Kol

6

6. Applied International Research

6. Applied Research Project 4

Kl;/StA;/ Ref;/Kol

6

7. Master Thesis 7. Master Thesis 2 MA; Kol 18

8. Electives Students have to take modules of at least 12 ECTS in the area of Finance and 12 ECTS in the area of Economics

Abbreviations:

Kl = Klausur / Examination StA = Studienarbeit / Assignment paper

Kol = Kolloquium / Colloquium SWS = Semesterwochenstunden / Weekly hours per semester

MA = Masterarbeit / Master Thesis TN = Teilnahmenachweis / Attendance required

Ref = Referat / Presentation / = „oder“ / or

schrP = schriftliche Prüfung / Written Examination ; = „und“ / and

Couse Catalogue: https://intern.ohmportal.de/fileadmin/Fachbereiche/bw/studienschwerpunkte/international_business/MIFE_und_MIMA/MIFE_Course_Catalogue.pdf

1.2 Compulsory Courses (for students who started IN/ AFTER WS 2015-16)

Modules Sub modules SWS Examination Weighting in case of Sub

modules

ECTS

1. Fundamentals of Financial Management

1.1 International Financial Accounting 2

schrP (90) / schrP (60), Ref

1:1 6 1.2

Business Ethics 2 schrP (90) / schrP (60), Ref

2. Corporate Valuation and Value Based Management

2. Corporate Valuation and Value Based Management

2 schrP (90); Ref

6

3. International Capital Markets

3. International Capital Markets 4

schrP (90); Ref

6

4. Global Financial Institutions and Investment Banking

4. Global Financial Institutions and Investment Banking 4

schrP (90); Ref

6

5. Applied Quantitative Methods

5. Applied Quantitative Methods 4

schrP (90); StA; Ref

6

6. International Economics 6.

International Economics 4 schrP (90); StA; Ref

6

7. Applied International Research Project

7. Applied Research Project 4 StA; Ref

6

8. Master Thesis 8. Master Thesis 2 MA; Kol 18

9. Electives 9. Requirements: 1. At least 6 ECTS in the field FINANCE and at least 6 ECTS in the field ECONOMICS!

2. Not more than 6 ECTS in the field GENERAL MANAGEMENT

Ábbreviations:







https://intern.ohmportal.de/fileadmin/Fachbereiche/bw/studienschwerpunkte/international_business/MIFE_und_MIMA/MIFE_Course_Catalogue.pdf


5

1.3 Electives For students who started BEFORE winter semester 2015-16: Students have to take Elective modules of at least 12 ECTS in the area of Finance and 12 ECTS in the area of Economics For students who started IN/ AFTER winter semester 2015-16: Requirements: 1. At least 6 ECTS in the field FINANCE and at least 6 ECTS in the field ECONOMICS! 2. Not more than 6 ECTS in the field GENERAL MANAGEMENT

Modules Field Sub modules SWS Examination ECTS

Mergers & Acquisitions Finance Mergers & Acquisitions 4

LN (Kl; StA; Ref)

6

Equity and Bond Investments Finance

Equity and Bond Investments 4

LN (Kl; StA; Ref)

6

Corporate Valuation and Value Based Management (COMPULSORY MODULE for students who started IN/ AFTER winter semester 2015-16!)

Finance

Corporate Valuation and Value Based Management 4

LN (Kl; StA; Ref)

6

Equity Financing and Venture Capital Finance

Equity Financing and Venture Capital

4 LN (Kl; StA; Ref)

6

Case studies in Finance and Capital Markets/ Fallstudien in Finanzierung und Kapitalmarkt

Finance

Fallstudien in Finanzierung und Kapitalmarkt 4

LN (Kl; StA; Ref)

6

Financial Risk Management Finance

Financial Risk Management 4

LN (Kl; StA; Ref)

6

Derivatives Finance

Derivatives 4

LN (Kl; StA; Ref)

6

Bank and Credit Risk Management Finance

Bank and Credit Risk Management 4

LN (Kl; StA; Ref)

6

Portfolio Management und Risiko Finance

Portfolioselektion und -evaluation

2 LN (Kl; StA; Ref)

6 Strukturierte Produkte 2

International Business Economics Economics

International Business Economics 4

LN (Kl; StA; Ref)

6

Development Economics and Policy Economics

Development Economics and Policy

4 LN (Kl; StA; Ref)

6

Public Sector Economics Economics Public Sector Economics 4

LN (Kl; StA; Ref)

6

Behavioral Economics Economics

Behavioral Economics 4

LN (Kl; StA; Ref)

6

Strategic Management in a Global Context

General Strategic Management in a Global Context

4 LN (Kl; StA; Ref)

6

Controlling I General

Controlling I 4

LN (Kl; StA; Ref)

6

Controlling II General

Controlling II 4

LN (Kl; StA; Ref)

6

Ábbreviations:








6

2. Study Plan for students who started IN/ AFTER WS 2015-16: 2.1 Start Winter Term (suggestion only!)

2.1 Start Summer Term (suggestion only!)

7

3. Module Descriptions

Module: Global Management Foundations - Fundamentals of Financial Management

Semester 1. or 2. Semester

Credit points 6 ECTS

Total Workload 180 hrs.

Prerequisites Accounting Basics and basic knowledge of International Financial Reporting Standards (IFRS) for single entities

Module Type Mandatory

Sub module 1 International Financial Accounting

Sub module responsibility Prof. Dr. Preißler



Language of instruction English

Contribution to the goals of the Master program

Provision of advanced knowledge and analytical capabilities in International Accounting for combined entities based on International Financial Reporting Standards (IFRS).

Learning Outcomes Students can describe the fundamental principles, assumptions and constraints of the accounting of combined entities. They understand and are able to explain the annual report of an international combined entity (global player). Course participants are able to analyze consolidated financial statements and can draw practice oriented conclusions from their analysis. They can present and evaluate relevant information in written form. They are able to answer questions on this matter comprehensively and can explain relevant interrelationships.

Module Content

The course covers the amongst other the following topics:

Essentials of Accounting & Summary of IFRS Basics

IFRS Financial Statements (IAS 1/IAS 7)

Consolidated Financial Statements (IFRS 10)

Joint Arrangement (IFRS 11)

Investments in Associates (IAS 28)

Operating Segments (IFRS 8)

Income taxes (IAS 12)

The effects of changes in foreign exchange rates (IAS 21)

Didactic Concept This module consists of a lecture part and many exercises and practices. In the lecture part the students will be endowed with the necessary knowledge of the rules and techniques to understand and to analyze an annual report. Current reports of international companies will be provided for independent research by the students.

Type of Examination Final Exam (90 min)

Prerequisites Basics in Financial Accounting

Literature (Excerpt) IFRS texts

Annual Reports (will be provided during the lecture)

Mirza/Orrell/Holt: IFRS, Practical Implementation Guide and Workbook, Wiley

Workload in full hours (= 60 minutes)

Contact Hours 23 hrs.

Preparations of classes, mandatory reading

15 hrs.

Preparation for examinations/of seminar papers/presentations

29 hrs.

Post processing of the lecture 23 hrs.


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Module: Global Management Foundations - Fundamentals of Financial Management (continued)

Sub module 2 Business Ethics

Sub module responsibility Prof. Dr. Margo Bienert

Semester 1. - 3. Semester


Work load 90 hrs



Understanding moral and ethical concepts and conduct options;

Improving the quality of (business) decisions and enhancing long-term business success through understanding ethical dilemma, moral philosophy, social responsibility, organizational culture, and special issues in a global economy; communicative ethics and modern practical philosophy

Learning Outcomes Students will be able to recognize and (re-)evaluate the ethical dimensions of business decisions in our competitive global business world. By applying various ethical theories and processes of decision making, students are able to understand, structure and to evaluate the complexity of typical ethical dilemmas in business decisions of our global and multicultural business world. Students are trained to present and evaluate complex topics and sophisticated theories in oral presentation and in written form. They are able to answer questions on this matter comprehensively and can explain relevant interrelationships.

Module Content The course covers the following topics: Definition of “good” as a basis concept of all moral discussions (as discussed by Plato, Aristotle, Kant, Descartes, Moore) Ethics in Business:

Globalization and the role of Business Ethics

Corporate social responsibility, Corporate Accountability and Corporate Citizenship

Ethical theories: Teleological, Deontological, Meta, Descriptive, Normative and other ethical theories; alternative perspectives and pragmatic use of ethical theory

Ethical decision making – example model

Ethical Model of discursive and communicative ethics

Managing Business ethics – codes of ethics, social accounting, organizing for ethics, codes of conduct

Managing stakeholder relations

Corruption and bribery

Didactic Concept Introductory lectures, group works and presentations of students, classroom discussions and joint evaluations of ethical dilemmas. Students work out the presentations of the various topics of the lecture and are assisted here by lecturer in individual group by group coachings.

Case studies (as suitable) will be applied throughout the class to further access and understanding

Type of Examination Exam (60 min) and Presentation (20 min) (weight 50:50)

Prerequisites None

Literature (Excerpt) Crane, A./Matten, D.: Business Ethics, 3rd ed., Oxford 2010.

Plato; Kant; Descartes; Mill; Moore; Rorty; Lay; Enderle

further literature by own research

9

Module: Global Management Foundations - Fundamentals of Financial Management (continued)


Contact Hours 22hrs.


28 hrs.


Tutorials


30 hrs.


10

Module: Corporate Valuation and Value Based Management

(Unternehmensbewertung und wertorientierte Unternehmensführung)

Module responsibility Prof. Dr. Dirk Honold

Semester 1., 2. or 3. semester


Total Workload 180 hrs

Language of instruction WS in German, SS in English


Provision of advanced knowledge and analytical capabilities in valuation of companies as a whole and on a periodical level including aspects of risk and the view of capital market.

Learning Outcomes Students can describe the theoretical and practical fundamental components of valuation and value based management. They understand and are able to explain the complexity of valuation and the specific related problems. Course participants are able to analyse companies and their value in order to draw practice oriented conclusions from their analysis. They can evaluate qualitatively and quantitatively and present the relevant information. They are able to answer questions on this matter comprehensively and can explain relevant relationship and claims between the different views on value of companies.

Module Content The course covers the following topics:

Analysis and evaluation of shareholder and stakeholder approaches

Description and differentiation of corporate valuation and value based management

Foundation of the theoretical background of valuation

Foundation of the theoretical background of financial planning for valuation and its practical application

Theoretical and practical determination of cost of capital incl. risk and taxes

Comparison of the different valuation approaches and their obstacles in applying on different kind of companies

Application of value based management on practical examples and their limits with the extension of future potentials

Application of corporate valuation on practical examples

Cases

Didactic Concept This module consists of a lecture part and an independent research part. In the lecture part the students will be endowed with the necessary knowledge and analytical tools in valuation and value based management. Additionally topics on current issues and case studies will be provided for independent research by the students. Students have to present their findings in an oral presentation.

Type of Examination Exam (90)/Presentation (weight 50:50)

Prerequisites None

Module Type Elective (Finance) for students who started BEFORE WS 2015-16

Mandatory for students who started IN/ AFTER WS 2015-16

11

Module: Corporate Valuation and Value Based Management (continued) (Unternehmensbewertung und wertorientierte Unternehmensführung)

Literature (Excerpt) Brealey/Myers: Principles of Corporate Finance

Copeland/Koller/Murrin: Corporate Valuation

Coenenberg/ Salfeld: Wertorientierte Unternehmensführung

Damodaran, Aswath: Damodaran on Valuation

Damodaran, Aswath: Investment Valuation

Daves, Philipp R./ Ehrhardt, Michael C./ Shrieves, Ronald E. (2004): Corporate Evaluation; South Western

Stewart, G. Bennett III: The Quest for Value, Harper

Rappaport: Shareholder Value

Richter/ Honold: Das Schöne, das Unattraktive und das Häßliche an EVA & Co., in FB, S. 265-274, 2000

Honold, Dirk; Fülbier, Rolf Uwe; Weese, Andreas; Schmusch, Matthias; Meyer, Konrad; Brand, Björn (2017): Internationaler Vergleich der Marktwert-Buchwert-Gegenwartswert-Lücke im Zeitablauf. In: CORPORATE FINANCE, 01-02/2017, S. 44-51

Honold, Dirk; Fülbier, Rolf Uwe; Weese, Andreas (2016): Zukunftspotentiale aus Kapitalmarktsicht - Marktwert-Buchwert-Gegenwartslücke am Beispiel der DAX-Unternehmen. In: Corporate Finance, 7-8 2016, S. 249-264

Ross/Westerfield/Jaffe/Jordan: Modern Financial Management

Case Studies + additional reading for special topics.




30 hrs.

Postprocessing of the lecture 18 hrs.

Tutorials

Preparation of presentations 45 hrs.

Preparation of exam 45 hrs


12

Module: International Capital Markets

Module responsibility Prof. Dr. Felix Streitferdt




Language of instruction WS in English


Understanding international capital markets and capital market models.

Learning Outcomes Students will be familiar with the most important institutions and participants on the international capital market. Moreover, they understand and are able apply the most broadly used capital market models. They have a deep understanding of the way capital market participants analyze different economic settings and they will be familiar with basic statistical analysis of capital market data.


Capital market institutions and participants

Portfolio management

The CAPM and the tax CAPM

Applying the CAPM

Risk neutral valuation

Information efficiency and capital markets

Behavioural finance and capital market bubbles

Didactic Concept This module consists of lectures and case studies. In the lecture, students will be introduced to different theoretical economic concepts that they will apply at home on real world cases. The case preparation will take place in three steps: Individual preparation at home, a small group discussion in a group of students and a classroom discussion that is moderated by the teacher.

Type of Examination Exam (90 min.)

Prerequisites None


Literature (Excerpt) Brealy, R.A./Myers, S.C/Allen, F.: Principles of Corporate Finance, 10th edition, 2011, McGraw-Hill.

Chisholm, A.A.: An Introduction to international capital markets, 2nd edition, 2009, Wiley 6 Sons.

Fabozzi, J.F./Modigliani, F.P./Jones, F.J.: Foundations of Financial Markets and Institutions, 2007, Pearson.

Forbes, W.: Behavioural Finance, 2009, Wiley & Sons.

Shleifer, A.: Inefficient Markets, 2000, Oxford University Press

Wiersema, U.F., Brownian Motion Calculus, 2008, Wiley & Sons.




30 hrs.


Tutorials


60 hrs.


13

Module: Global Financial Management - Global Financial Institutions & Investment Banking

Sub module Global Financial Institutions & Investment Banking

Module responsibility Prof. Dr. Andreas Weese




Language of instruction WS in English


Understanding of types and business models of global financial institutions, with a particular focus on Investment Banking activities, and knowledge of regulatory requirements for banks and insurance companies

Learning Outcomes Seminar participants will be familiar with the most important types and business models of global financial institutions such as banks, insurance companies and asset managers. They understand the institutional setup, purposes and challenges of these global financial institutions. Students are able to critically discuss benefits, constraints and problems regarding each single business model. In particular, students will gain an in-depth understanding of the areas of investment banking and capital markets activities of banks. Furthermore, seminar participants will have a broad understanding of different capital concepts for financial institutions and the respective impacts on their business decisions. In particular, students will gain a profound knowledge of regulatory requirements for banks under Basel III and get an overview of new capital requirements for insurance companies under Solvency II.


Banking business: retail banking, commercial banking and investment banking

Insurance business: life insurance and non-life insurance

Asset management business

Capital concepts: IFRS capital, regulatory capital and economic capital

Bank capital requirements under Basel III and capital requirements for insurance companies

Equity & Debt Capital Markets

Financial Advisory: M&A and Corporate Restructuring

Sales & Trading and Research

Didactic Concept This module consists of a lecture part and an individual research part. In the lecture part, students will be introduced to the most important activities of global financial institutions and to regulatory requirements according to Basel III and Solvency II. In the individual research part, students will work on current issues related to banking, insurance business and regulatory capital requirements. Seminar participants have to produce a presentation and discuss their findings in a classroom presentation.

Type of Examination Exam (90 min); Presentation (weight 51:49)

Prerequisites None


14

Module: Global Financial Management - Global Financial Institutions & Investment Banking (continued)

Literature (Excerpt) Bodie, Z., Kane, A., Marcus, A. (2011): Investments and Portfolio Management

Choudhry/Landuyt: The Future of Finance: A New Model for Banking and Investment

De Weert, F. (2011): Bank and Insurance Capital Management

Hull, J. (2012): Risk Management and Financial Institutions

Iannotta: Investment Banking – A Guide to Underwriting and Advisory Services

Liaw: The Business of Investment Banking: A Comprehensive Overview

Mishkin,F., Eakins, S. (2012): Financial Markets and Institutions (Global Edition)



Preparations of classes 20 hrs.

Post processing 22 hrs.

Preparation exams/ presentations 90 hrs.


15

Module: Applied Quantitative Methods

Module responsibility Prof. Dr. Seebens






Provision of advanced knowledge and analytical capabilities in applied quantitative methods and research.

Learning Outcomes This course will provide an introduction to quantitative methods in use in modern finance and economics. Emphasis will be placed on the practical use of empirical tools. This applied focus will be complemented by the investigation of assumptions and proofs that contribute to the understanding of empirical results.

Students will examine design issues in research, conduct hands on data analysis and apply descriptive and inferential procedures to test hypotheses. After completion of the course students are able to perform statistical and econometric research by using the software STATA.


Introduction to Stata

Simple and multiple regression

Hypothesis testing

Model building

ARIMA

GARCH

Limited dependent variables

Didactic Concept This module consists of a lecture part and on hands on computer exercises using the statistical software package STATA.

Type of Examination Written exam, duration: 90 minutes, Weight: 100%

Prerequisites Basic statistics


Literature (Excerpt) J. M. Wooldridge Introductory Econometrics: A Modern Approach, International Edition, Thomson.

James Stock and Mark Watson.Introduction to Econometrics, Pearson.

Chris Brooks: Introductory Econometrics for Finance, Cambridge University Press.

G. S. Maddala: Introduction to econometrics, Wiley, 3rd edition

R. Sollis: Empirical Finance for Finance and Banking

R. Tsay: Analysis of Financial Time Series




30 hrs.


Tutorials

Preparation exam 90 hrs.


16

Module: International Economics

Module responsibility Prof. Kähler.




Language of instruction English, in WS


Provision of advanced knowledge and analytical capabilities in international economics.

Learning Outcomes Solid knowledge of the institutional framework of international financial markets

Understanding the historical development of exchange-rate systems and exchange-rate determination

Evaluation of political and economic indicators of country risk

Identification of opportunities and risks of international investment strategies

Analyzing financial instruments from the perspective of hedging, arbitrage and speculation

Academic reflection of the current state of international economics

Module Content The course examines issues of international financial markets and financial management from an economic and business perspective.

1. The Foreign Exchange Market

2. Interest Rate Parity

3. Purchasing Power Parity

4. Exchange Rate Determination and Forecasting

5. Exchange Rate Systems

6. International Debt Financing

7. International Equity Financing

8. Political and Country Risk

9. Foreign Currency Futures and Options

Didactic Concept This module consists of a lecture part and an independent research part. In the lecture part, the students will be endowed with the necessary knowledge and analytical tools in international economics. Additionally topics on current issues in international economics will be provided for independent research by the students. Students are to present their findings in a seminar paper.

Type of Examination Exam (60 min.) (weight 50%), Seminar paper (weight 50%)

Prerequisites None


Literature (Excerpt) M. Melvin and S.C. Norrbin, International Money and Finance, Elsevier, 2013

G. Bekaert, R. Hodrick, International Financial Management, 2nd edition, Pearson, 2011


Contact Hours 22,5 hrs.


30 hrs.


Tutorials

Preparation for examinations/of seminar papers

112,5 hrs.


17

Module: Applied Research Project - Applied International Research Project

Module responsibility Prof. Dr. Birgit Eitel

Semester 1.or 2. Semester





Provision of applied research capabilities in international finance and economics.

Learning Outcomes Develop skills on how to search for, evaluate and analyse primary and secondary information with the aim of arriving at meaningful, objective results for a realistic project, with a focus on finance and economics. Students work in small teams, with an emphasis on understanding how to structure and carry out the project within the team, including managing their own deadlines.

Module Content Students carry out independent and applied research on a specific topic in the area of international finance and economics. The exact contents depend on the specific research stream selected but will include a critical review of the state of art information/literature sources on the chosen topic.

Didactic Concept Guided independent research on a small group basis

Type of Examination Group report and presentation/discussion (weight 60:40)

Prerequisites Module “Applied Quantitative Methods”


Literature (Excerpt) Literature on research and academic writing: • Bailey, S. (2011) Academic Writing: A Handbook for

International Students, Routledge. • Müller, S. (2012) Leitfaden zum wissenschaftlichen Arbeiten,

TH Nürnberg • Ghauri, P and Gronhaug (2010) Research Methods in

Business Studies, FT Pearson • Additional topic specific literature will be discussed in class




Post processing of the lecture

Tutorials


155 hrs.


18

Module: Electives – Mergers & Acquisitions

Module responsibility Prof. Dr. Matthias Fischer




Language of instruction WS: German, SS: English


Provision of knowledge and application of actual concepts and theories for mergers and acquisitions.

Learning Outcomes Application of actual concepts and theories on mergers and acquisitions. The seminar participants are capable to evaluate a transaction with fundamental methods, to build the process of M&A-transactions with case examples and to critically evaluate the success of M&A-transactions. They can present and evaluate relevant information in written form. Students are able to answer questions on this matter comprehensively and can explain relevant interrelationships.


Strategies and process planning in M&A

Valuation of companies in M&A

Financing of M&A-transactions

M&A with Management Buyout and Private Equity

Legal and tax restrictions for M&A

Success factors for M&A

Post Merger Integration

Private Equity and Venture Capital

Case Studies for M&A-transactions in different industry sectors

Didactic Concept This module consists of a lecture part and an independent research part. In the lecture part the students will be endowed with the necessary knowledge and analytical tools for the M&A process. Additionally topics on current issues in M&A will be provided for independent research by the students. Students are to present their M&A case analysis in a written presentation with academic referencing.

Type of Examination Exam (90 min.); Presentation (weight 50:50)

Prerequisites Knowledge in principles of corporate finance. It will be expected that the basic principles of financing and investments learned from a bachelor class are known by the students and can be applied by the participants.

Module Type Elective

19

Module: Electives – Mergers & Acquisitions (continued)

Literature (Excerpt) Brealey/Myers/Allen: Principles of Corporate Finance

Bruner: Cases in Finance, Managing for Corporate Value Creation

Copeland/Koller/Murrin: Valuation – Measuring and managing the value of companies

Damodaran, A.: Investment Valuation

Damodaran, A.: Applied Corporate Finance

Ennew, C./Waite, N.: Financial Services Marketing

Ernst, D./Haecker, J.: Applied International Corporate Finance

Fischer, M.: Handbuch Wertmanagement in Banken und Versicherungen

King Brett: Bank 2.0 – How customer behaviour and technology will change the future of financial services

Picot, G.: Handbook of International Mergers & Acquisitions

Seppelfricke, P.: Handbuch Aktien- und Unternehmensbewertung: Bewertungsverfahren, Unternehmensanalyse, Erfolgsprognose

Voigt, K.-I./Fischer, M.: Genossenschaftsbanken im Umbruch, De Gruyter Oldenbourg Berlin 2016.




30 hrs.


Tutorials


90 hrs.


20

Module: Electives – Equity Financing and Private Equity

(Eigenkapitalfinanzierung und Venture Capital)

Module responsibility Prof. Dr. Dirk Honold

Semester 1., 2. or 3. Semester



Language of instruction WS (englisch) und SS (deutsch)


Erklärung und Anwendung von Konzepten und Theorien zur Eigenkapitalfinanzierung aus Sicht der Unternehmen unter besonderer Berücksichtigung von Risikoaspekten, sowohl bei der Finanzierung am Kapitalmarkt als auch für Private Equity finanzierte Wachstumsunternehmen.

Learning Outcomes Fachkompetenz:

Die Studierenden können Konzepte und Instrumente zur Finanzierung aus Sicht der Unternehmen unter besonderer Berücksichtigung von Risikoaspekten erläutern, sowohl bei der Eigenkapitalfinanzierung am Kapitalmarkt als auch für Private Equity. Sie durchdringen Verfahren und Modelle zur Quantifizierung von Eigenkapitalfinanzierungen und können deren Ergebnisse hinterfragen. Die Studierenden können die Bedeutung einer risikoadäquaten Finanzierung und deren Ausgestaltungsparameter erläutern und die Finanzierungsmöglichkeiten mit Eigenkapital einordnen und auch quantitativ beurteilen. Die Studierenden können wichtige Methoden und Instrumente bei der Akquise und dem Management von Eigenkapital analysieren und können deren Wirkung auf Risiko und Return-Profile der einzelnen Parteien quantifizieren.

Lern- bzw. Methodenkompetenz:

Die Studierenden sind in der Lage, Fragestellungen zur Anwendung von Konzepten und Theorien zur Eigenkapitalfinanzierung aus Sicht der Unternehmen unter besonderer Berücksichtigung von Risikoaspekten zu beantworten, sowohl bei der Finanzierung am Kapitalmarkt als auch für Private Equity finanzierte Wachstumsunternehmen. Dazu erarbeiten sich die Studierenden auf Basis der einschlägigen Literatur die inhaltlich-methodischen Aspekte, können diese systematisch präsentieren und kritisch analysieren. Sie sind in der Lage, Entscheidungen zu unterschiedlichen Fragestellungen zu Public und Private Equity auf Basis geeigneter Fallstudien vorzubereiten und deren Wirkungsweise zu reflektieren.

Selbstkompetenz:

Individuelle Handlungsziele können die Studierenden vor dem Hintergrund der Einstellungen und Werte des Unternehmens sowie der Gesellschaft reflektieren und verknüpfen. Sie können die Wirkungsweise getroffener Entscheidungen im Hinblick auf unternehmens- und gesellschaftsbezogene Werte hinterfragen.

Sozialkompetenz:

Die Studierenden können in Gruppen Lösungsstrategien entwickeln und kritisch reflektieren. Sie sind in der Lage, Ergebnisse zielgruppengerecht zu präsentieren. Die Studierenden hinterfragen die präsentierten Lösungen und bringen sich durch konstruktives Feedback in die Diskussion ein.

21

Module: Electives – Equity Financing and Private Equity (continued)

Module Content Analyse und Bewertung des Shareholder und Stakeholder Value Ansatzes

Ausgestaltungsmöglichkeiten von Corporate Governance und deren Wirkung auf den Kapitalmarkt

Übersicht und Analyse der Eigenkapitalarten unter Berücksichtigung von Wachstumsoptionen und Insolvenztatbeständen

Finanzierungsstrategien und Analyse der Eigenkapital-finanzierung unterschiedlicher Geschäftsmodelle/ Branchen in Abhängigkeit der Unternehmensphase mit Wirkungen auf die Entscheidungs-, Kontroll- und Informationsprozesse

Analyse und Ausgestaltung der Eigenkapitalfinan-zierung von Technologieunternehmen von der Idee bis zum Markt

Ausgestaltung von Finanzierungsverträgen mit Wirkungen auf die Entscheidungs-, Kontroll- und Informationsprozesse inklusive Exit-Optionen und Rechteverteilung

Fallstudien

Didactic Concept Dieses Modul besteht aus einem Vortragsteils und eigenen Erarbeitungen im Rahmen der Präsentation. Im Vortrag werden sowohl die wesentlichen Konzepte zur Eigenkapitalfinanzierung aus Sicht der Unternehmen unter besonderer Berücksichtigung von Risikoaspekten, sowohl bei der Finanzierung am Kapitalmarkt als auch für Private Equity vorgestellt sowie Praxisfälle und –erkenntnisse kritisch beleuchtet und an Fallstudien veranschaulicht. In dem Präsentationsteil werden die Kenntnisse zur Problemlösung oder Simulation einer praxisnahen Fragestellung genutzt, ggf. erweitert und diskutiert.

Type of Examination schrP (90) + Ref; Gewichtung 1:1

Prerequisites Kompetenzen und Kenntnisse vergleichbar jenen aus dem Fach Finanz- und Investitionswirtschaft des Bachelor Betriebswirtschaft der TH Nürnberg


Literature (Excerpt) - Metrick, Andrew / Yasuda, Ayako (2010): Venture Capital & the Finance of Innovation, 2e, Wiley

- Gompers, Paul Alan (2002): Entrepreneurial finance. New York: Wiley.

- Gompers, Paul Alan; Lerner, Joshua (2004): The venture capital cycle. 2. ed. Cambridge, Mass.: MIT Press.

- Smith, Richard L. / Smith, Janet Kilholm (2004): Entrepreneurial Finance 2e, Wiley

- Kaplan, Steven N.; Strömberg, Per (2003): Financial Contracting Theory Meets the Real World. An Empirical Analysis of Venture Capital Contracts. In: Review of Economic Studies, Jg. 70, H. 2, S. 281–315.

- Vries, H.F. de / Loon, M.J. van (2005): Venture Capital Term Sheets, Reed

- Honold, D. (2014): Wagniskapitalfinanzierung durch den High-Tech Gründerfonds (HTGF), in CORPORATE FINANCE, Heft 5 S. 220-236

- Honold/Weese (2017): Investor Relations: Erwartungs-management durch zukunftsorientierte Werttreiberkommunikation, in CORPORATE FINANCE, S. 274-286.

- Case Studies + additional reading for special topics

22

Module: Electives – Equity Financing and Private Equity (continued)




30 hrs.

Postprocessing of the lecture 18 hrs.

Preparation of presentations 45 hrs.

Preparation of exam 45 hrs


23

Module: Electives – Equity and Bond Investments

Module responsibility Prof. Dr. Andreas Weese



Total Workload 180 hours

Language of instruction SS 2018: in English


Knowledge of approaches for the management of financial investments and application of investment analysis

Learning Outcomes Seminar participants will gain a profound understanding of equity and bond investments from an (institutional) investors’ perspective. They will be able to apply basic valuation and management techniques for the professional selection of individual equity and bond investments. Furthermore, students will be able to discuss investment decisions in a well-founded manner. In particular, they become also sensitive to the risks related to equity and bond investments.


Equity investment analysis and valuation approaches applied in practice

Management and valuation of bonds in theory and practice

Discussion of return and risk against the background of the most recent financial crisis

Investment process in the institutional asset management business

Discussion of benefits and limits of theoretical valuation models as well as discussion of the impact of market psychology

Case study: preparation of own (simplified) equity investment analysis by the students and following presentation in the form of a simulated investor meeting (= part of the examination mark)

Didactic Concept This module consists of a lecture part and an individual research part. In the lecture part, students will be introduced to the most important concepts regarding equity and bond investments. High importance is given to discussions of risks and issues in the real world of equity and bond investments. In the individual research part, students will conduct an own analysis of a selected stock and discuss their findings in a classroom presentation.

Type of Examination Exam (90 min); equity investment analysis & presentation (Weight 51:49)

Prerequisites None


Literature (Excerpt) Fabozzi: Fixed Income Analysis

Pinto et al.: Equity Asset Valuation

Bodie/Kane/Marcus: Investments and Portfolio Management

Brealey/Myers/Allen: Principles of Corporate Finance

Damodaran: Investment Valuation

Iannotta: Investment Banking





Preparation exams/ analysis 90 hrs.


24

Module : Electives – Case studies in Finance and Capital Markets

Module responsibility Prof. Dr. Matthias Fischer

Semester 1., 2. or 3. semester



Language of instruction WS: German, SS: English


Knowledge and application of actual concepts and theories regarding corporate finance and capital markets with the help of case studies.

Learning Outcomes Application of basic concepts for the valuation of financing and investment decisions in case studies. The participants of the seminar shall apply fundamental analytical methods for investment and financing decisions in case studies. They should be capable to critically evaluate capital market models in their application. Participants should be capable to discuss actual challenges in the financial and banking markets.

Module Content Various Case studies on valuation, financing strategies and capital markets products are used as basis for the discussion of the financial concepts

Basic concepts of evaluation of investments with NPV, DCF, DDM, Multiples, NAV-Methods

Calculation of costs of capital and CAPM

ETFs and Investment Advisory

Interest Rate Risk and Basel III

Portfolio Theory and Asset Management

Concepts for Equity and Debt financing

Value Based Management Concepts and EVA

Actual challenges for the financial and capital markets

Digital banking solutions

Didactic Concept Discussion of Case Studies, student case analysis and presentations, group work

Type of Examination Exam and Presentation (Weights 50:50)

Prerequisites Knowledge in Principles of Corporate Finance and Capital Markets learned in bachelor classes in financing and investments.


Literature (Excerpt) Brealey / Myers / Allen: Principles of Corporate Finance

Bruner: Cases in Finance

Bodie, Kane and Markus: Investments

Copeland/Koller/Murrin: Valuation – Measuring and managing the value of companies

Damodaran, A.: Investment Valuation

Damodaran, A.: Applied Corporate Finance

Ennew, C./Waite, N.: Financial Services Marketing

Ernst, D./Haecker, J.: Applied International Corporate Finance

Fischer, M.: Handbuch Wertmanagement in Banken und Versicherungen

King, Brett: Bank 2.0 – How customer behaviour and technology will change the future of financial services

Voigt, K.-I./Fischer, M.: Genossenschaftsbanken im Umbruch, De Gruyter Oldenbourg Berlin 2016.

25

Module: Electives – Case studies in Finance and Capital Markets (continued)


Contact Hours 48 hrs

Preparations of classes 22 hrs

Post processing 10 hrs

Group work/ tutorials 35 hrs

Preparation of presentation 35 hrs

Preparation exams/ analysis 30 hrs


26

Module: Electives – Financial Risk Management

Module responsibility Prof.(em.) Dr. Günter Eckstein





Contribution to the goals of the program

Provision of advanced knowledge and analytical capability in financial risk management, i.e. controlling stock prices, interest rates and exchange rates via futures, options and swaps.

Prerequisites None


Learning Outcomes Designing, using and communicating a practical risk management approach to derivatives for the investment generalist.

The students are able to design and realize quantitative strategies in the field of financial risk management and expand their knowledge base independently.

The students are able to reflect their strengths and weaknesses in the field of risk management as well as to scrutinize their self-management and efficiency.

The students are able to work and learn together with people with different nationalities and cultures.

Module Content Why Risk Management

Measuring Risk: Value at Risk (VaR)

Future strategies

Options strategies

Swap strategies

Didactic Concept Expository teaching, problem solving, self-test exercises, sample exam

Type of Examination Exam (90 min); 100%

Literature Chance, Brooks: An Introduction to Derivatives and Risk Management, 10th ed. 2013, South Western, Mason Chance (2003): Analysis of Derivatives for the CFA Program, AIMR, Charlottesville





Tutorials

Exam preparation 90 hrs.


27

Module: Electives - Portfoliomanagement und Risiko

Module Responsibility

Semester

Prof. Dr. Andreas Weese

1., 2.or 3. Semester



Prerequisites Kompetenzen und Kenntnisse vergleichbar jenen aus den Fächern Finanz- und Investitionswirtschaft, Wirtschaftsmathematik I und II sowie Statistik I und II des Bachelor Betriebswirtschaft der TH Nürnberg



Language of instruction WS in German


Die Studierenden haben umfassende Kenntnisse zu Asset Allocation, Portfoliomanagement in den Asset-Klassen Aktien und Fixed Income sowie Portfoliorisiko und -performance. Sie sind in der Lage, grundlegende Denkweisen und Methoden anzuwenden.


Die Studierenden können Fragestellungen zur Anwendung von Konzepten und Theorien zu Asset Allocation, Portfoliomanagement sowie Portfoliorisiko und -performance beantworten. Dazu bearbeiten die Studierenden eigenständig Übungsaufgaben auf Basis der erläuterten theoretischen Grundlagen. Zudem bearbeiten sie eigenständig Fallstudien, bei denen Microsoft Excel und Thomson Reuters angewendet werden.

Selbstkompetenz:

Die Studierenden sind in der Lage, Ansätze zu Asset Allocation, Portfoliomanagement sowie Portfoliorisiko und -performance fundiert zu diskutieren. Sie können ihre Arbeitsweisen und methodischen Ansätze reflektieren. Sie können ihre Arbeitsergebnisse zielorientiert präsentieren und kritisch diskutieren.

Sozialkompetenz:

Die Studierenden sind fähig, gemeinsam in einer Gruppe zu arbeiten und zu diskutieren.

28

Module: Electives - Portfoliomanagement und Risiko (continued)

Module Content

- Bildung von Kapitalmarkterwartungen - Risikoaversion und Kapitalallokation - Optimierung risikobehafteter Portfolios - Ansätze zum Management von Aktien- und

Bondportfolios - Indexmodell und Multifaktormodelle im Aktien Portfolio

Management - Zinsänderungsrisiken und Konvexität - Performance-Messung und Performance-Attribution

Didactic Concept Das Modul basiert auf seminaristischem Unterricht kombiniert mit der selbständigen Bearbeitung von Fallstudien. Im Rahmen des seminaristischen Unterrichts erfolgt die Diskussion wesentlicher Konzepte zu den Themenbereichen Portfoliomanagement und Risiko. Die erlernte Theorie wird durch die Studierenden unmittelbar durch das Lösen von Aufgaben angewendet und vertieft. In diesem Zusammenhang sind mithilfe von Excel auch umfangreichere Aufgaben basierend auf realen Kursdaten zu lösen. Darüber hinaus bearbeiten die Studierenden selbständig mehrere Fallstudien unter der Verwendung von Thomson Reuters und Excel. Die Ergebnisse werden im Rahmen von Kurzpräsentationen vorgestellt und diskutiert.

Type of Examination schrP(90) + Ref; Gewichtung 51:49

Prerequisites

Literature (Excerpt) - Bodie, Z., Kane, A., Marcus, A. (2014): Investments - Maginn, J., Tuttle, D., McLeavey, D., Pinto, J. (2007):

Managing Investment Portfolios. A Dynamic Process - Mondello, Enzo (2015): Portfoliomanagement: Theorie

und Anwendungsbeispiele, 2.Auflage, Wiesbaden 2015

tewart, S., Piros, C., Heisler, J. (2011): Running Money – Professional Portfolio Management




Post-processing of lectures

18 hrs

18 hrs

Preparation of seminar papers/presentations

Group work/ tutorials

30 hrs

24 hrs

Preparation for examinations 42 hrs


29

Module: Electives - Bank and Credit Risk Management / Bank- und Kreditrisikomanagement

Module responsibility Prof. Dr. Norbert Schiele




Language of instruction WS in English / SS in German


Verständnis von Methoden und Instrumenten des Bankmanagements; Verständnis, Anwendung und kritische Reflexion von Modellen und Instrumenten zur Messung und Steuerung von Kreditrisiken


Die Studierenden können Methoden und Instrumente zur ertrags- und risikoorientierten Steuerung einer Bank erläutern und anwenden. Sie durchdringen Verfahren und Modelle zur Quantifizierung von Kreditrisiken und können deren Ergebnisse hinterfragen. Die Studierenden können die Bedeutung einer adäquaten Risikomessung für die Risikotragfähigkeit der Bank erläutern und die einschlägigen bankaufsichtsrechtlichen Anforderungen einordnen und beurteilen. Sie können sowohl bankinterne als auch aufsichtsrechtliche Kapitalanforderungen für Kreditrisiken zu quantifizieren. Die Studierenden analysieren wichtige Methoden und Instrumente zum aktiven und passiven Management von Adressenausfallrisiken und können deren Wirkung auf die Risikotragfähigkeit und Performance der Bank quantifizieren.


Die Studierenden können Fragenstellungen zur Quantifizierung und Steuerung von Kreditrisiken eigenständig beantworten, indem sie sich auf Basis der einschlägigen Literatur die daten-technischen und inhaltlich-methodischen Aspekte erschließen, systematisch präsentieren und kritisch analysieren. Sie sind in der Lage, Entscheidungen zum Einsatz unterschiedlicher Absicherungsinstrumente auf Basis geeigneter Fallstudien vorzubereiten und deren Wirkungsweise zu reflektieren.

Selbstkompetenz:

Individuelle Handlungsziele können die Studierenden vor dem Hintergrund der Einstellungen und Werte des Unternehmens sowie der Gesellschaft reflektiert und verknüpft werden. Die Wirkungsweise getroffener Entscheidungen können sie im Hinblick auf unternehmens- und gesellschaftsbezogene Werte hinterfragen.

Sozialkompetenz:

Die Studierenden können in Gruppen Lösungsstrategien entwickeln und kritisch reflektieren. Sie sind in der Lage, Ergebnisse zielgruppengerecht zu präsentieren. Die Studierenden reflektieren die präsentierten Lösungen und bringen sich durch konstruktives Feedback in die Diskussion ein.

30

Module: Electives - Bank and Credit Risk Management / Bank- und Kreditrisikomanagement (continued)

Module Content - Kreditrisikomanagement als Teil einer risikobezogenen Gesamtbanksteuerung

- Risikotragfähigkeitskalkül

- Wertorientierte Risiko/Ertrags- Betrachtung

- Definition, Kategorisierung und Messung von Kreditrisiken

- Erwartete und unerwartete Verluste

- Bankaufsichtliche Regelungen zur Eigenkapitalunterlegung von Kreditrisiken

- Ökonomischer und regulatorischer Kapitalbedarf

- Instrumente zum Management von Kreditrisiken

- Bewertung der Instrumente

Didactic Concept Das Modul besteht aus einem Vorlesungsteil und einem individuellen Forschungsteil. Im Vorlesungsteil werden die Studierenden in zentrale Konzepte des Bank- und Kreditrisikomanagements eingeführt. Dabei wird den regulatorischen Anforderungen an ein modernes Bank- und Risikomanagementsystem hohe Bedeutung beigemessen. Im Rahmen ihrer individuellen Researuchaufgabe führen die Studierenden eine eigenständige Analyse einer Fragestellung aus dem Bereich des Kreditrisikomanagements durch. Die Ergebnisse werden im Rahmen einer Präsentation vorgestellt und im Kurs diskutiert.

Type of Examination schrP(90) + Ref; Gewichtung 1:1

Prerequisites Kompetenzen und Kenntnisse vergleichbar jenen aus dem Fach Finanz- und Investitionswirtschaft des Bachelor Betriebswirtschaft der TH Nürnberg


Literature (Excerpt) - Hartmann-Wendels, T.; Pfingsten, A.; Weber, M.: Bankbetriebslehre, 6. Auflage, Berlin 2014.

- Rolfes, B.: Gesamtbanksteuerung, 2. Auflage, Stuttgart 2008.

- Schierenbeck, H.: Ertragsorientiertes Bankmanagement, Band 1: Messung von Rentabilität und Risiko im Bankgeschäft, 9. Auflage, Wiesbaden 2014.

- Schierenbeck, H.: Ertragsorientiertes Bankmanagement, Band 2: Risiko- Controlling und integrierte Rendite-/Risikosteuerung, 9. Auflage, Wiesbaden 2008.







31

Module: Electives - Derivatives

Module responsibility Prof. Dr. Streitferdt




Language of instruction SS in English

Contribution to the goals of the program

Students are introduced to pricing techniques on financial markets and will develop a deep understanding of financial engineering and structuring as well as economic models of decision making

Prerequisites


Learning Outcomes Students will gain knowledge in the most important financial derivatives like security lending, Forwards, Futures, Swaps and options. They will be able to understand the connection between binomial models and the Black-Scholes model and they understand the difference between different pricing models.

Moreover, the student’s will be able to evaluate the prices of financial derivatives and to develop arbitrage strategies to exploit mispricing on international capital markets. They will be able to analyse structured products and to price newly structured derivatives.

Students will develop a deep understanding for the assumptions underlying different pricing models.

The students will also work in groups to develop strategies for solutions and to defend their solutions to challenges from other students

Module Content Basic discounting Security lending Forwards Futures Swaps Options Put-Call-Parity Binomialbäume trees and delta hedging Stochastic processes Black/Scholes/Merton-Valuation Delta Hedging Risikoneutrale Valuation Valuing structured products Interest rate options

Didactic Concept - Presentations from the teachers

- Working in groups on problems given by the teacher

- Presentation of their results

32

Module: Electives – Derivatives (continued)

Type of Examination Written exam (90 minuites)

Literature - Brealy, R.A./ Myers , S.C. und F. Allen (2008): Principles of Corporate Finance, 9. Auflage, McGraw Hill.

- Choudry, Moorad, (2009): The Money Markets Handbook, Wiley & Sons.

- Choudry, Moorad, (2003): The Bond & Money Markets: Strategy, Trading, Analysis, Butterworth.

- Hull, John C. (2008): Options, Futures and other Derivatives, 7. Auflage, Prentice Hall.

- Ross, S.A., Westerfield, R.W. und J.F. Jaffe (2004): Corporate Finance, McGraw Hill.


Preparations of classes 20 hrs

Post processing 22 hrs

Tutorials 20 hrs

Exam preparation 70 hrs


33

Module: Electives - Economics of Emerging Markets and Development

Module responsibility Prof. Dr. Seebens

Semester 1, 2. or 3. Semester





Provision of advanced knowledge on current issues in international economic development and policies with a focus on financial sector development. The analytical tools provided enable students to critically assess policies and projects carried out to foster economic development.

Learning Outcomes Students are familiar with current issues in international development and policy making with a focus on financial sector development. They can critically assess projects and national policies and are familiar with challenges involved. They can explain how development finance works, what sources of finance are available to countries’ policy makers and private actors and how effectively funds are being used.

Module Content

What is development?

Poverty and inequality

Theories on growth and development

The setting – household decision making

Financial sector development

Microfinance: credit, savings and insurance

Didactic Concept Active paper discussion. For each week students have to prepare papers on the respective issues. These papers will be discussed and major lessons bill be drawn from the discussion.

Type of Examination Written essay (100%), eligibility to receive a grade includes the participation in group works that will be distributed during the lectures.

Prerequisites Intermediate macroeconomics and microeconomics, applied quantitative methods.


Literature Reading list of articles.




55 hrs.


Tutorials

Preparation for examinations/of seminar papers

65 hrs.


34

Module: Electives - Behavioral Economics

Module responsibility Prof. Dr. Robert Jäckle

Semester 1st, 2nd or 3rd Semester



Language of instruction English, Summer Semester


This course aims at creating awareness of how rational and irrational behaviour shape economic decisions.

Learning Outcomes Based on the awareness of rational and irrational behaviour the student will learn what it means to make “better” (economic) decisions. Additionally, we will discuss why people may stick with an irrational choice even though they could do better. The course will also provide a brief introduction on how to conduct and analyse experiments.

Module Content In contrast to the public awareness, economists are working for decades to expand the standard rational choice model. Traditional approaches in this regard are e. g. the investigation of strategic interactions (game theory) and decision making under asymmetric information (information economics). Even more popular is the field of behavioural economics which tries to describe why people behave irrationally.

The focus of this course is threefold: 1) We repeat the most important features of rational decision making as well as more sophisticated approaches including game theory and decisions under uncertainty; 2) We explain some of the basic principles, ideas and reasons for irrational decision making and 3) we briefly discuss the methodological basics necessary to conduct experiments.

Didactic Concept Seminar, case studies and presentations

Type of Examination Presentations/ Written Exam (Weight 40:60)

Prerequisites Knowledge of microeconomic and statistical principles


Literature (Excerpt) Angrist, Joshua D. und Jörn-Steffen Pischke: Mostly Harmless Econometrics – An Empiricist’s Companion, Princeton University Press, Princeton, 2009.

Ariely, Dan: Predictably Irrational – The Hidden Forces That Shape Our Decisions, Harper, New York, 2010.

Ariely, Dan: The Upside of Irrationality: The Unexpected Benefits of Defying Logic, Harper, New York, 2011.

Babby, Earl: The Practice of Social Research. 13th edition, Cengage Learning, Wadsworth, 2013.

Cartwright, Edward: Behavioral Economics, Routledge, Oxford, 2011.

Frank Robert H. and Edward Cartwright: Microeconomics and Behavior, McGraw-Hill, New York, 2013.

Just, David R.: Introduction to Behavioral Economics – Non economic Factors That Shape Economic Decisions, Wiley, 1 edition, 2013.

Thaler, Richard H. und Cass R. Sunstein: Nudge – Improving Decisions About Health, Wealth, and Happiness, Yale University Press, New Haven & London, 2008.

35

Module: Electives - Behavioral Economics (continued)




30 hrs.


Group work/ Tutorials 15 hrs


60 hrs.


36

Module: Electives - Strategic Management in a Global Context

Module responsibility Prof. Dr. Rogers, Prof. Dr. Fees

Semester 1., 2, or 3. Semester





Provision of analytical and application skills in global strategy.

Learning Outcomes Students will be able to successfully apply the contents of strategy (tools/techniques) learned in introduction courses to international settings. They will competently analyze global contexts and assess MNC options. Students will be capable of applying academic models to real-life or case-simulated international business situations.

In separate seminars based on current key readings the students will become well versed in the art of scientific writing using original source as opposed to standard textbook material.

Module Content The course covers:

A global perspective: fitting the firm’s strategies and products and dealing with ethical and social/cultural responsibilities.

Leading and innovation in an international setting.

Review of strategy theories and international expansion.

Managing M&As including strategic negotiations

Key readings concerning current issues in global strategy from top academic journals.

Didactic Concept Lectures; Group work; presentations, cases, written assignment

Type of Examination Exam 90 min. (50%);

Presentation (20 min) on Key Reading Topic or Case Study (50%); mandatory to attend the 2-days off-site „Wild West Show“ Planned date: May/June (compensation for non-attendance: 2000 words academic paper)

Prerequisites A successfully completed introduction course to Strategic Management


Literature (Excerpt) Holt and Wigginton International Management. Original journal articles (English and German articles) as required. All literature available in Intranet.




20 hrs.


Tutorials

Preparation for examination and presentations

45 hrs.

Preparation of written assignment 35 hrs.


37

Module: Electives - Controlling I (Internationales Unternehmenscontrolling)

Module responsibility Prof. Dr. Klaus Stemmermann

Semester 1., 2. oder 3. Semester

Credit points 6


Language of instruction German

Structure Initialpräsentationen des Dozenten zur Herstellung des grundlegenden Verständnisses von zentralen Aufgaben im Controlling international agierender Unternehmen

Erarbeitung der Besonderheiten in der Planung, im Reporting sowie in der Identifikation von managementrelevanten Sachverhalten im operativen Controlling international agierender Unternehmen.

Erarbeitung branchentypischer Besonderheiten in der Steuerung von international agierenden Unternehmen in Wachstums- und Krisenphasen.

Erarbeitung von Kennzahlensystemen zur Steuerung international agierender Unternehmen

Erarbeitung der typischen Ansatzpunkte im Kosten-management international agierender Unternehmen

Bearbeitung von Fallstudien

Diskussion von Praxisbeispielen

Reflexion und Feedback zu Erkenntnissen aus der Projektarbeit


Die Teilnehmer der Lehrveranstaltung kennen die typischen Herausforderungen in der operativen Steuerung von international agierenden Unternehmen. Sie können einen fundierten Beitrag im Hinblick auf die Entwicklung operativer Planungs-, Kennzahlen- und Reportingsysteme in international agierenden Unternehmen leisten und diese mit gezielten Programmen zum Kosten- und Leistungsmanagement ergänzen.


Die Teilnehmer der Lehrveranstaltung können die eigenen Lernprozesse selbständig gestalten.

Selbstkompetenz:

Die Teilnehmer der Lehrveranstaltung können ihre eigenen Fähigkeiten im Bereich der operativen Steuerung internationaler Unternehmen kritisch hinterfragen und einordnen.

Sozialkompetenz:

Die Teilnehmer der Lehrveranstaltung können komplexe Analysen zielgruppenorientiert kommunizieren und argumentativ vertreten.

38

Module: Electives - Controlling I (Internationales Unternehmenscontrolling) continued

Module Content Grundlagen des operativen Controllings in international agierenden Unternehmen

Entwicklung von finanziellen Spitzenkennzahlen in internationalen Unternehmensstrukturen

Besonderheiten in den Planungs- und Reportingsystemen international agierender Unternehmen

KPI in internationalen Unternehmen

Steuerungsanforderungen international agierender Unternehmen in Wachstums- und Krisenphasen

Kostenmanagement und Leistungssteigerungsprogramme in international agierenden Unternehmen

Fallstudien

Didactic Concept Seminaristischer Unterricht / Fallstudien/ Projekt

Type of Examination Kl (90)

Prerequisites Sicherer Umgang mit den klassischen Instrumenten der Kosten- und Leistungsrechnung sowie grundlegende Kenntnisse im Bereich des operativen Controlling; Kompetenzen und Kenntnisse vergleichbar jenen aus dem Fach Kosten- und Leistungsrechnung des Bachelor Betriebswirtschaft der TH Nürnberg.


Literature (Excerpt) Weber, J./Schäffer, U.: Einführung in das Controlling, 12. Aufl., Stuttgart 2014

Hoffjan, A.: Internationales Controlling, Stuttgart 2009

Klein, A. (Hrsg.): Kostenmanagement in Krisenzeiten, München 2009

Weitere Literatur abhängig von jeweils im Semester gesetzten Schwerpunkten






Preparation presentation 12 hrs



39

Module: Electives - Controlling II (Internationales Konzerncontrolling)

Module responsibility Prof. Dr. Klaus Stemmermann

Semester 1., 2. oder 3. Semester

Credit points 6


Language of instruction German

Structure Initialpräsentationen des Dozenten zur Herstellung des grundlegenden Verständnisses von zentralen Aufgaben im strategischen Controlling international agierender Unternehmen

Erarbeitung des grundlegenden Aufbaus von Geschäftsmodellen und deren Steuerungsanforderungen anhand von Fallbeispielen

Bearbeitung von Fallstudien zur strategischen Planung und integrierten Finanzplanung

Bearbeitung von Fallstudien zu grundsätzlichen Fragen in der Ausrichtung der Absatz-, Produktions-, Beschaffungs- und Entwicklungsprozesse in internationalen Unternehmens- und Konzernstrukturen

Gastvorträge

Diskussion von Praxisbeispielen

Reflexion und Feedback zu Erkenntnissen aus der Projektarbeit


Die Teilnehmer der Lehrveranstaltung kennen die typischen operativen und strategischen Herausforderungen in der Steuerung von international agierenden Konzernen. Sie können einen fundierten Beitrag insbesondere im Hinblick auf die Entwicklung strategischer Steuerungssysteme in international agierenden Unternehmen bzw. Konzernen leisten.


Die Teilnehmer der Lehrveranstaltung können die eigenen Lernprozesse selbständig gestalten.

Selbstkompetenz:

Die Teilnehmer der Lehrveranstaltung können ihre eigenen Fähigkeiten im Bereich der strategischen Steuerung internationaler Konzerne kritisch hinterfragen und einordnen.

Sozialkompetenz:

Die Teilnehmer der Lehrveranstaltung können komplexe Analysen zielgruppenorientiert kommunizieren und argumentativ vertreten.

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Module: Electives - Controlling II (Internationales Konzerncontrolling) (continued)

Module Content Grundlagen des strategischen Controllings in international agierenden Unternehmen und Konzernen

Grundlagen von Geschäftsmodellen, deren internationaler Ausrichtung und Weiterentwicklung sowie deren Führung und Steuerung

Entwicklung von finanziellen Steuerungs- und Reportingsystemen in international agierenden Unternehmen und Konzernen

Effektive und effiziente Gestaltung der Absatz-, Produktions-, Beschaffungs- und Entwicklungsprozesse in internationalen Unternehmens- und Konzernstrukturen

Internationales Preismanagement und -controlling

Branchentypische Fragestellungen im strategischen Controlling

Fallstudien

Didactic Concept Seminaristischer Unterricht / Fallstudien/ Projekt

Type of Examination Kl (90)

Prerequisites Sicherer Umgang mit den klassischen Instrumenten der strategischen Planung und des Controlling von Unternehmen; Kompetenzen und Kenntnisse vergleichbar jenen aus dem Fach Kosten- und Leistungsrechnung des Bachelor Betriebswirtschaft der TH Nürnberg


Literature (Excerpt) Alter, R.: Strategisches Controlling, München 2011

Behringer, St.: Konzerncontrolling, Berlin 2011

Osterwalder, A./Pigneur,Y.: Business Model Innovation, New Jersy 2010

Weitere Literatur abhängig von jeweils im Semester gesetzten Schwerpunkten






Preparation presentation 12 hrs



Documents

Module Catalogue - Technische Hochschule Nürnberg · PDF fileModule Catalogue (SPO 2012) WINTER SEMESTER ... 10 Module: Corporate Valuation ... Language of instruction English