Semester Course Guide

for exchange students

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Exchange opportunities at: The Faculty for Accounting, Finance and Marketing

The Faculty for Accounting, Finance and Marketing, better known as FEF, offers students the opportunity to follow course from two different programs. Students can choose courses from the Accounting and Finance program, or from the Marketing program. These courses are taught by experienced lecturers with close relation to, and experience in the work field. As an international exchange student, you can plan your courses by combining various courses offered by FEF, or combine these with courses offered at the other faculties at the University of Aruba. Courses offered at the FEF are not limited to students in a Business program, but it is highly recommended for students to have previous knowledge in the field of Accounting & Finance and/or Marketing to be able to successfully complete the chosen courses at our faculty. Students’ experience at the FEF is not limited to the classroom setting, but includes engagement with the Aruban professional work-field, local and international guest lecturers, company visits and real-life assignments.

Courses at the FEF are offered in English and Dutch.

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Courses offered in the first semester: English taught courses in the first year

Code Course Name ECTS FP-AE-11 Economics 4 FP-EN-15 English Proficiency and Business Communications 3

English taught courses in the second year

Code Course Name ECTS FAFB-MA1-16 Management Accounting 1 3 FMAB-AD-16 Advertisement and Design 4 FMAB-MM-16 Marketing Management 3 FEFB-EN1-16 English Proficiency and Business Communications 1 2 FEFB-OP-16 Operations Management 3 FEFB-OTD-16 Organization, Theory and Design 2

English taught minors in the fourth year

Code Course Name ECTS * Advanced Advertisement and Design 30 * International Financial Management 30 * International Sustainable Entrepreneurship ** 30 * New Media Marketing and Communications ** 30 * Health, Aging and Pensions ** 30

* Each minor consists of various modules. Each module has its own code. A student can choose to mix the modules from different minors. It is recommended to discuss this with the lecture first. ** These minors will be launched in Fall 2019

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Courses offered in the second semester: English taught courses in the first year

Code Course Name ECTS FP-EN-15 Organizational Behavior 3 FP-EN-15 English Proficiency and Business Communications 2

English taught courses in the second year

Code Course Name ECTS FMAB-CB-16 Consumer Behavior 4 FMAB-MST1-16 Marketing Strategies 1 3 FEFB-EC-16 Economics 4 FEFB-EN2-16 English Proficiency and Business Communications 2 2 FEFB-STM-16 Strategic Management 3

English taught courses in the third year

Code Course Name ECTS FAFB-MA2-16 Management Accounting 2 3 FMAB-DM-16 Digital Marketing 3 FMAB-IMM-16 International Marketing Management 4 FMAB-MR2-16 Marketing Strategies 2 3 FEFB-EN3-16 English Proficiency and Business Communications 3 2 FEFB-WIMD-16 Web and Interactive Media Design 2

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Course descriptions

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Description of courses in the first year Economics (a first semester course) Credits 4 Hours 3 Course Description The students get acquainted with the basic principles and

the functioning of an economy. The student can handle some economic models and apply these to different situations. This course is an introduction to micro- and macro- economics. Students are introduced to topics in micro-economic which focuses on scarcity, markets, supply and demand theory and applications. Moreover, students receive a brief introduction to macro-economic with a focus on topics such as the economic cycle, gross domestic product and gross domestic income, economic growth and inflation.

English Proficiency and Business Communications (offered in both semester) Credits 3 (1st semester)/ 2 (2nd semester) Hours 2 (1st semester)/ 1 (2nd semester) Course Description This course seeks to improve student’s English language

skills. We review common problem areas related to spelling, grammar and sentence structure, and practice reading comprehension and vocabulary expansion through contemporary economics, finance and marketing-related texts. The first semester focuses on the production of short written communications (letters, emails, memos) that are correct, clear, and professional, while the second semester integrates oral skills development.

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Organizational Behavior (a second semester course) Credits 3 Hours 3 Course Description First year students familiarize with insights, theories and

concepts of self-knowledge. The course prepares students to organize themselves as future professionals, to execute tasks in an efficient and effective manner to realize personal and organizational goals. The focus of this course is on students’ emotional intelligence, encouraging them to initiate their self-discovery journey, which is components of attitudes, with the objective to aim at fruitful professional relationships. This is important for their future, strengthening their assertiveness and leadership skills for successful careers.

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Description of courses in the second year Management Accounting 1 (a first semester course) Credits 3 Hours 3 Course Description The student acquires knowledge of and skills in the field

of Management Accounting in the broadest sense. This involves the provision of data on costs and revenues for decision-making purposes within organizations. The learning objectives are: • Understanding of the purpose of management accounting and its structure. • Understanding of the role management accounting plays or can play in supporting organizations and managers in making planning and control decisions. • Obtaining knowledge of general cost terms and the different classifications of costs. • Understanding of the different types of allocation methods to assign costs to cost objects. • Understanding of the meaning of budgeting and how to prepare the different components of a master budget. • Acquiring insights in the different levels of variance analysis (actual vs. budget) of costs and revenues. • Understanding the different approaches for valuing inventory and how to prepare an income statement based on the methods of variable and absorption costing. Content: Management accounting provides key data to managers for planning and controlling, as well as for costing products, services and customers. The central focus of the

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course is to comprehend how cost accounting helps managers make better decisions. Students are taught to understand the different management accounting terms and practices, and are trained to apply these concepts in organizational contexts where financial and economic decision-making is required. Different concepts will be covered in this course, including the understanding of basic cost terms and concepts and consideration of cost allocation methods. Furthermore, students will learn how to prepare budgets, perform variance analysis, and to present income statements based on different inventory costing methods.

Advertisement and Design (a first semester course) Credits 4 Hours 3 Course Description In this course the student will gain knowledge about the

practice of advertisement and design through a mixture of practice and theory-based learning. This course fuses creative design and advertisement concepts, allowing students to explore the many facets of visual communication, including: color theory, typography, message strategy, advertising copywriting, and digital design. You will be taught how to communicate through the various media channels used for advertisement. Students will develop their design skills using project-based activities and processes related to industry standards. Content: The following topics are part of the module: - The process of thinking creatively

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- Formulating an advertisement idea - Advertisement concepts and design - Strategy and branding - Designing across media - Ethical and legal issues in advertisement - The Basics of designing with Adobe Illustrator and Photoshop

Marketing Management (a first semester course) Credits 3 Hours 3 Course Description A Marketing Manager is able to control the entire

marketing planning process. In this module the focus is on the knowledge of marketing planning process as a whole, and its various components, as well as the various techniques used to reach the end goal. After completing this course a student is able to look at every marketing component separately, and apply the correct strategy accordingly. The student will analyze and solve various cases, this will grant the student a greater insight of the complexities in marketing. At the end of the module the student will be able to better analyze, assess and describe market situations and formulate sound strategic plans. The following topics are part of the module: - What is marketing management? - How do you gain marketing insight? - How does one create a strong client relationship? - How does one create strong brands? - How does one shape their marketing offering? - How do you communicate and supply value? - How do you create successful long term growth?

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English Proficiency and Business Communications 1 (a first semester course) Credits 2 Hours 2 Course Description This semester focuses on good business communication

practices. Students will explore how effective writing goes beyond correct grammar and spelling by learning and applying strategies for audience adaptation as well as techniques to improve clarity and conciseness, express courtesy and confidence, and avoid biased language.

English Proficiency and Business Communications 2 (a second semester course) Credits 2 Hours 2 Course Description The focus this semester is on employment

communication: students shall learn and apply strategies for creating effective résumés, cover letters and LinkedIn profiles. Students will practice how to prepare for a successful interview. Class discussion will also revolve around internship and job search strategies.

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Operations Management (a first semester course) Credits 3 Hours 2 Course Description Operations Management is a course which focuses on the

management of key resources required to produce products and services within the framework of an organizational structure. The operations function consists of the core wealth creation processes of a business and helps an organization to efficiently achieve its mission while constantly increasing productivity and quality. The principles of operations management and strategy, innovation and design of processes, products and services, forecasting and management of capacity, and operations improvement and risk management are covered. On successful completion of the course, the student will be able to: • To gain a general understanding and appreciation of the principles and applications relevant to the design, planning and operations of manufacturing/service firms. • Select and apply relevant concepts and tools to optimize the process/ production system of an organization; • Explain the objectives of operations management and characterize how operations management meets the requirements of maximizing profits/efficiency whilst minimizing costs; • Demonstrate the skills needed to design and manage change in an organization using a set of models tools and frameworks, with due consideration for impact on human resources;

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• Optimize and improve operations using qualitative and quantitative techniques in the areas of capacity management and supply chain management.

Organization, Theory and Design (a first semester course) Credits 2 Hours 2 Course Description Organization Theory & Design is a continuation of the first

year subject organizational behavior. During this semester, 3 specific theories are discussed providing students basic knowledge of; organization structures, organization effectiveness and the Anticipatory Organization Model. The semester starts with a discussion of a technology driven changing environment causing disruptions. The afore-mentioned, based on the organization configurations of Henry Mintzberg, McKinsey’s 7-S Framework and Daniel Burrus’ hard and soft trends (the AO-model).

Consumer Behavior (a second semester course) Credits 4 Hours 3 Course Description Marketing revolves around the consumer. The consumer

has the power to choose from the offer. There is interaction between consumer behavior and marketing strategies. Therefore, a marketer needs to gain insight into the behavior of consumers in order to formulate a good marketing strategy. At the end of the module the student

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will know how consumer behavior is at the heart of planning, development and implementation of various marketing aspects. Content: The following topics are part of the module: - What is consumer behavior; - Consumers in the Marketplace; - Consumers as Individuals; - Consumers as Decision Makers; - Consumers and Subcultures.

Marketing Strategies 1 (a second semester course) Credits 3 Hours 3 Course Description Marketing students will sooner or later be confronted with

strategic marketing choices. Either while working for an organization or as an entrepreneur. After this course the student will be able to analyze, interpret and make strategic choices on market situations in order to take full advantage of market opportunities. Content: The following subjects will be covered: - Strategic marketing planning - Marketing ethics and social responsibility - Analyzing the market environment - Developing competitive advantage - Strategic use of the marketing mix - Marketing strategy implementation - Developing customer relationships - Case studies

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Economics (a second semester course) Credits 4 Hours 3 Course Description The student has the knowledge of the different market

forms and can use micro-economic models to independently analyze micro-economic related issues. Furthermore, the student has sufficient knowledge of the important macro-economic models and can use these to critically analyze practical macro-economic issues. Content: Students will further delve into the micro- and macro- economics. Topics covered are: perfect competition, monopoly, monopolistic competition, oligopoly and game theory, the money markets, the AD-AS model, and the model of loanable funds are discussed. A company commonly visited during this course is, student will visit the Central Bank of Aruba.

Strategic Management (a second semester course) Credits 3 Hours 2 Course Description After completing this course, the student is able to

understand the basics principles of strategic management, and can apply the model process of strategic management. In this course the student will delve in the following topics: • Ethics & corporate social responsibility; • Model of the process of strategic management; • SWOT analysis and EFAS- / IFAS-matrix

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• Porter’s five forces model; • TOWS-matrix; • Introduction to change management

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Description of courses in the third year Management Accounting 2 (a second semester course) Credits 3 Hours 3 Course Description The student acquires knowledge of and skills in the field of

Management Accounting in the broadest sense. This involves the provision of data on costs and revenues for decision-making purposes within organizations. The learning objectives are: • Obtaining knowledge of cost-volume-profit analysis methods. • Understanding of the concepts relevant and irrelevant costs/revenues and learning how these are evaluated when performing analysis for decision-making. • Understanding of key approaches to determine (sales) prices and how pricing decisions are made. • Obtaining knowledge of generic strategies that are adopted by companies and how strategic decisions impact a company’s operations. • Understanding how the Balanced Scorecard (BSC) can be used to better communicate a company’s strategy to organization members. • Acquiring insights in the different approaches to determine cost allocation rates and the three methods to allocate interdepartmental costs. • Understanding the different approaches to allocate joint and separable costs to final products.

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• Understanding how capital budgeting assists managers in long-run planning decisions in investment projects and acquiring insights in capital budgeting methods. • Obtaining knowledge of how to develop management control systems to support planning and control activities in an organization. • Understanding of the term ‘transfer pricing’ and obtaining knowledge of three generic methods to determine transfer prices between sub-units. Content: Management accounting provides key data to managers for planning and controlling, as well as for costing products, services and customers. The central focus of the course is to comprehend how cost accounting helps managers make better decisions. Students are taught to understand the different management accounting terms and practices, and are trained to apply these concepts in organizational contexts where financial and economic decision-making is required. In Management accounting 2, the emphasis is not just placed on the application of costing methods, but special attention is also given to other aspects of contemporary management accounting practices: • Management control (responsibility accounting): producing key information to manage business processes; • Accounting for decision-making: creating key information to support operational and strategic decision-making. Different concepts will be covered in this course, including break-even analysis, decision-making based on information of relevant costs and revenues, pricing decisions, strategy and Balanced Scorecard (BSC), interdepartmental cost allocation, process costing, management control systems and transfer pricing.

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Digital Marketing (a second semester course) Credits 3 Hours 3 Course Description The rapid change in technology has revolutionized the

world of marketing, shifting the balance power from the business environment to the consumers. This course explores the different aspects of the digital marketing environment such as analytics, SEO and SEM, social media marketing, use of smartphones and other devices. Another aspect of this course is, exploring the new possibilities of micro markets and micro economies (crowd funding, crowd sourcing, inside out marketing) ), looking at the changing landscape with maker labs and fab labs (3D printing, open source markets). The consumer behavior in online environments will be discussed, analyzed, monitored and tested with simulated and real-life marketing campaigns. After completing this course, the student will have a richer understanding of the digital marketing landscape, and practical knowledge of its use. The following topics are part of the module: • Introduction to digital marketing • Digital marketing channels landscape • The role of digital marketing in integrated marketing campaigns • Developing concrete digital marketing campaigns • Content strategy and management • Online reputation management • Use of analytics to make marketing decisions • Growth hacking with digital marketing

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• Marketing psychology • Digital buying and sharing behavior • SEO and SEM implementation

International Marketing Management (a second semester course) Credits 4 Hours 3 Course Description During the course IMM the characteristics and

determinants of a company performance in relation to their marketing activities within a global environment are discussed. The practical aspect of this course covers the opportunity for students to analyze international business environment of a number of internationally known companies, which will help the students gain insight into international relations, economics, politics, culture, import and export. After completing this course, a student is able to develop policy trade-offs around international marketing management. The following topics are part of the module: • the international business environment • analyze and choose international market opportunities • analyze international business environment of companies • assessing international market positioning • decision making on the international marketing strategy of businesses • setting up international marketing programs

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Marketing Strategies 2 (a second semester course) Credits 3 Hours 3 Course Description Marketing students will sooner or later be confronted with

strategic marketing choices. Either while working for an organization or as an entrepreneur. After this course the student will be able to analyze, interpret and make strategic choices on market situations in order to take full advantage of market opportunities. Content: The following subjects will be covered: - Strategic marketing planning - Marketing ethics and social responsibility - Analyzing the market environment - Developing competitive advantage - Strategic use of the marketing mix - Marketing strategy implementation - Developing customer relationships - Case studies

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English Proficiency and Business Communications 3 (a second semester course) Credits 2 Hours 2 Course Description Students will continue to develop their English language

oral and written communication competencies, but at a more advanced level. In this final semester of English language instruction, students will tackle literature searches and case studies in order to develop their research, critical thinking and in-depth analysis skills.

Web and Interactive Media Design (a second semester course) Credits 2 Hours 2 Course Description This engaging course, challenges participants to take ideas

and conceptualize these into functional and interactive media. Through the exploration of key principles and methodologies, one will be able to develop a working knowledge of dynamic media systems like websites, interactive platforms, and mobile device applications. At the end of the course the participant must be able to present a complete concept to the end user of a screen-based media. Part of the course includes case analysis, comprehensive design and development of interactive platforms for various business types. Content: The following topics are part of the module: Understanding human interaction - The interactive media landscape

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- Design thinking - Usability for interactive media and accessibility - Principles of web design - Website development and SEO - Sensory design - Design for emotion - Interaction design - Gamification - Psychology of interaction - Concept, storyboard, flowchart, wireframes, mock up and prototype

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FEF minors Offered in the first (Fall) semester

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Description of the minors offered in the fourth year Note: all FEF minors are offered in the first semester. Each minor consists of various modules. Each module has its own code. A student can choose to mix the modules from different minors. It is recommended to discuss this with the lecture first. All minors consists of various modules and total 30 ECTS. The following minors are offered: • Advanced Advertisement and Design (ADAM) • International Financial Management (IFM) • International Sustainable Entrepreneurship (ISE) • New Media Marketing and Communications (NMMC) • Health Aging and Pensions (HAP)

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Advanced Advertisement and Design Code Module ECTS FCEB-NMST-18 New media strategies and techniques 4 FCEB-SCCM-18 Storytelling, copywriting and content management 4 FCEB-APS-18 Advanced presentation skills 2 FCEB-BEC-18 Behavioral Economics 5 FCEB-ADAM-18 Advertising design across media 5 FCEB-BMNM-18 Budgeting, Metrics & ROI for New Media 2 FCEB-MSEPI-18 Message strategy, ethics & psychological impact 3 FCEB-PCE-18 Promotional campaign effectiveness 5

*Note: There may be updates and module changes for Fall 2019

Minor description Advanced Advertisement and Design: In this minor, students will develop advertising campaigns, examine strategies, advertising techniques and psychological appeals, as they relate to the good practice of advertisement design. Block 1: • New media strategies and techniques • Storytelling, copywriting and content management • Advanced presentation skills • Behavioral Economics Block 2: • Advertising design across media • Budgeting, Metrics & ROI for New Media • Message strategy, ethics & psychological impact • Promotional campaign evaluation

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Modules New media strategies and techniques This module focuses on the need for a dynamic online presence, as well as strategies and techniques necessary to achieve this goal. Modern organizations will be examined on their use and techniques of social networks, and other online media for their business. This course will allow the participant to gain insight into how new media influences the business, the brand, goals and outcomes. Storytelling, copywriting and content management This module is designed to provide participants with the necessary skills for managing the various phases within which the narrative of a brand, product or service is articulated. This includes the content production and methods that support narrative. The participant will focus on the art of narration for promotional and positioning purposes, by producing content that communicates with stakeholders and prospectives. Advanced presentation skills To get the idea across, when it comes to creative advertising strategy, one must learn to speak customer oriented, knowledgeably and persuasively in a challenging environment. The participant in this module will focus on developing client and customer communications skills, and improve their presentation skills, by focusing on key methods that create an engaging, persuasive and winning speech. Behavioral Economics This course describes how the use of evidence from psychology can improve the predictive power of standard economic theories. Standard economic theories represent human beings in ways that are often different from the way they actually behave. Evidence suggests that human behavior is often different from standard ideas of economic rationality in predictable ways. Predictions about individual behavior are more accurate and the policies of governments are more effective when this evidence is effectively used. This course seeks to provide a wide-ranging but nontechnical survey of behavioral economics, which is a relatively new but rapidly

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developing field. Experimental evidence on behavior collected by psychologists and, increasingly, economists will be presented. Observed behavior will be compared and contrasted with the behavior assumed in standard economic theory. The ways in which the predictions of economic theory can be improved by utilizing the available evidence on human behavior will be discussed. The course will also discuss how the combination of economic and psychological theory improves the design of government policies and marketing strategies. Advertising design across media The advertising industry requires individuals with innovative, creative and original ideas, as well as technical abilities to develop captivating ads across media. For this module, the participant will learn how to translate marketing objectives into focused media campaigns, assess the strength and weaknesses of different media types, from traditional and emerging platforms. Budgeting, Metrics & ROI for New Media When considering ads on digital platforms, you should proceed with caution and with a very specific budget in mind. In order to secure executive buy-in and budget for your social marketing strategies you need to demonstrate how your efforts are contributing to the business’ goals. Social media, like other channels, must prove its return on investment (ROI). But beyond proving the impact on your organization, measuring and tracking metrics for ROI lets marketers dedicate more time and resources into what’s working, and improve the tactics that aren’t delivering value. In this module, the participants will look at the overall scope of media budgets, metrics and ROI for online campaigns. Message strategy, ethics & psychological impact In this module, the participant will focus on the key elements of a good message strategy, in order to develop a good advertising campaign that targets the intended audience. To effectively understand the importance of message strategies, participants will learn about the advertising appeals and executional frameworks through various examples. There will be significant emphasis placed on the

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importance of good ethical practices in advertising and the potential psychological impact when this is not applied. Promotional campaign effectiveness This module describes techniques to determine the effectiveness of certain promotional activities. During the program students’ will acquire knowledge and skills on how an activity can be tested before it is implemented on a larger scale and how it can be evaluated or monitored during the process of the activity. Furthermore, the module describes ways to determine if an activity was effective in reaching certain objectives of a brand, product or company. International Financial Management Code Module ECTS FEFB-BV-11 Business valuation 4 FBEB-PICD-18 Project corporate deal-making 3 FBEB-SFM1-18 Sustainable Financial Management I 3 FCEB-BEC-18 Behavioral Economics 5 FBEB-CG-18 Corporate Governance 4 FBEB-FM-18 Financial markets 4 FBEB-ALM-18 ALM for Institutional Investors/Assurance 4 FBEB-SFI-18 International Business Skill 3

*Note: There may be updates and module changes for Fall 2019

Minor description International Financial Management: The minor International Financial Management will specifically appeal to students who are interested in finance and investments and to those who aspire to work in a financial position. Financial market is highly globalized, which is why the minor has an international character.

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Block 1: • Business Valuation • Project Corporate Deal-making • Sustainable Financial Management • Behavioral Economics Block 2: • Corporate Governance • Financial markets • Assurance • International Business Skill Modules Business Valuation Students learn how to apply the theories and methods of valuation, both for companies and projects. They can choose the appropriate method for specific valuation task, apply them in simplified settings, calculate fair values, and critically examine and interpret the results. They will know what the important drivers of value creation of growth and learn how to assess risk. Frequently used valuation methods are dividend discount model, relative valuation methods using multiples and the Discounted cash flow method. Project International Corporate Deal-making During the project teams of students will simulate a merger or acquisition with teams of students from the Applied University in Utrecht, The Netherlands. Both teams will represent a company and they will negotiate a corporate deal with each other. Communication will mostly take place via Skype, WhatsApp and email. Important topics to learn are the analyze companies on their strengths and weaknesses and how to value these companies.

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Sustainable Financial Management I The student will have knowledge of, insights in and gain experience with the most modern practices in finance. The course is jointly developed with the Hanze Hogeschool in Groningen and will be offered in close cooperation with Hanze Hogeschool. There is a renewed interest sustainability, especially since the crisis of 2008. During the course, students will look into the crisis and its aftermath. Then they will learn how all kinds of new and innovative sustainable methods came available for financing SME companies. Subjects like sustainable investment, crowd funding, micro finance, impacting investing, financial modelling are important topics. Behavioral Economics This course describes how the use of evidence from psychology can improve the predictive power of standard economic theories. Standard economic theories represent human beings in ways that are often different from the way they actually behave. Evidence suggests that human behavior is often different from standard ideas of economic rationality in predictable ways. Predictions about individual behavior are more accurate and the policies of governments are more effective when this evidence is effectively used. This course seeks to provide a wide-ranging but nontechnical survey of behavioral economics, which is a relatively new but rapidly developing field. Experimental evidence on behavior collected by psychologists and, increasingly, economists will be presented. Observed behavior will be compared and contrasted with the behavior assumed in standard economic theory. The ways in which the predictions of economic theory can be improved by utilizing the available evidence on human behavior will be discussed. The course will also discuss how the combination of economic and psychological theory improves the design of government policies and marketing strategies. Corporate Governance Corporate governance and shareholder activism have gained in importance over recent years. As a consequence of the renewed emphasis on corporate governance spurred by recent legislation boards of public companies are experiencing awareness and pressure to become active and involved with their fiduciary responsibilities.

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Board members must know how to implement major decisions in a company regarding issues like remuneration, appointment and firing of executives and non-executives, mergers and acquisitions, dividend, risk management systems, and selecting the accountants. Not only are companies concerned with putting appropriate mechanisms in place, but boards must adopt new frameworks and new attitudes about their decision-making roles and new ways of fulfilling their obligations. This course will enable students to consider the issues addressed by corporate governance. Some of the recent scandals will be dealt with and regulatory reactions to them. After studying this course, you should be able to: • provide a range of definitions of corporate governance • identify issues usually addressed by corporate governance structures • apply the most recent scandals and abuses and the regulatory reaction • identify the other drivers of corporate governance, such as capital markets, shareholders and rating agencies Financial Markets This finance course is intended for students who want to increase their familiarity with financial market operations and the practical aspects of managing personal finances. It prepares students to work within financial institutions and/or financial consulting. Due to the economic globalization and the modernization of financial assets’ the global understanding of financial markets’ institutional logics and environment has become increasingly complex. In this course the primary intent is to introduce students to institutional environment in which financial transactions take place. In this course the students will learn how to use modern tools like screeners, to pick the right investment titles. Students will also learn to analyze the discerning qualities that make an investor successful or not in the financial markets.

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ALM for Institutional Investors/Assurance Asset Liability Management in its broadest sense refer to the idea that investments should always be made keeping in mind the investment goal (“liabilities”). The reason is that the net performance (return on assets minus return on liabilities) determines the actual financial position of a pension fund, insurance company, bank, trust, (local) government, or any other financial institution. For example, trustees of pension funds face a number of important decisions, including: the investment strategy that is used to invest premium contributions, the funding policy (i.e. fixed or variable premiums), the type of pension scheme (based on final pay or average pay), and the indexation policy Skills for International Business This course consists of a series of three workshops that focuses on your personal opinions and behavior, specifically your communication skills. IN the project, you work together with students from different countries, from different cultures. In learning Skills for International Business, intercultural communication is crucial. As well as acquiring knowledge on how to develop sensitivity for other (business) cultures, including the necessary traits to be effective and successful in international business. International Sustainable Entrepreneurship Code Module ECTS FEFB-SE-18 Social Entrepreneurship 5 FEFB-BM-18 Business Models 5 FBEB-SFM1-18 Sustainable Financial Management I 3 FBEB-SFM2-18 Sustainable Financial Management II 2 FEFB-SFI1-18 Skills for International Business 1 3 FEFB-SFI2-18 Skills for International Business 2 2 FEFB-PR-ISE-18 Project 1: International Sustainable Entrepreneurship &

Innovation 5

FEFB-PR-RA-18 Project 2: Research Assignment 5

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Minor description International Sustainable Entrepreneurship: This minor is about learning and doing sustainable business in an international environment. A mix of classes, projects and research assignments will be offered. Via blended learning you will get the latest insight on important topics related to sustainability, entrepreneurship, business models and finance. Block 1 • Social Entrepreneurship • Sustainable Financial Management I • Skills for International Business 1 • Project 1: International Sustainable Entrepreneurship & Innovation Block 2 • Business Models • Sustainable Financial Management II • Skills for International Business 2 • Project 2: Research Assignment Modules Social Entrepreneurship The course steers students through the intricate world of competing and interlocking approaches & perspectives in relation to social enterprise initiatives. Furthermore, the course equips students with the essential insights into the practice of social entrepreneurship. At the same time students learn to measure social return on investment and the impact of social enterprises in the broader social economy. The course aims to inspire students to engage in the field of social entrepreneurship by giving them a comprehensive introduction to the social enterprise sector. Business Models In this course, new business models and their interrelation with modern trends in society are the main topic of study. Nowadays business models are becoming more and more dependent on ICT. Next, the opinion among economists is changing towards sustainable models too, indicating concepts as cradle-to-cradle, circular economy

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amongst others. In this way both generic models for the business context and specific models like CSR and PPP are being discussed. Management of new business models is another theme where the organisations are being seen more and more as open systems with the internal ability of transition and accountability as important focus points. Sustainable Financial Management I In this introduction course, different types of modern finance methods, like crowd funding, micro finance, fin tech etc. will be topic of discussion. These finance methods are especially applicable for incubator companies and start-ups. Attention will be given to the causes for these recent innovative developments, as well as the technical innovations that are taking place behind it. The aim is to get an in-depth knowledge of modern types of financing methods, and to be able to evaluate the methods in terms of durability and reliability. The course content will be of use in the project International Entrepreneurship and Innovation. Sustainable Financial Management II In this continuation course the focus is on established companies and how they can implement and evaluate Corporate Social Responsibility policies. After an introduction of SFM for mid-sized companies their current CSR policies and methods will be explored. Auditing and valuation of CSR policies are specific topics that also will be discussed during the course. The aim is to get an in-depth knowledge of CSR policies within mid-sized companies, and to be able to evaluate CSR-methods. The course content will be of use in the Research Assignment. Skills for International Business 1+2 This course consists of a series of three workshops that focuses on your personal opinions and behavior, specifically your communication skills. IN the project, you work together with students from different countries, from different cultures. In learning Skills for International Business, intercultural communication is crucial. As well as acquiring knowledge on how to develop sensitivity for other (business) cultures, including the necessary traits to be effective and successful in international business.

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Project 1: International Sustainable Entrepreneurship & Innovation This international project has a duration of 7 weeks in which you will work in teams on a sustainable business project and connecting this business venture with your personal mission towards innovation and sustainability. International guest lecturers will provide the theoretical background focusing on different aspects of a business start-up, such as new business concepts (Business Model Canvas) and modern and alternative financing opportunities (microfinance, crowd funding etc.) Therefore, several workshops, guest lectures and master classes will be organized during the project. Students also do research about sustainable business practices and innovative thinking like long-term food supplies, energy savings methods etc. Project 2: Research Assignment During a period of 7 weeks you will work together with your (international) class mates on a research project for a specific business client that wants / needs to innovate or make its business more sustainable. As a team, you need to execute a consulting advice that should give concrete solutions on the problem at hand. In order to succeed in delivering a good, solid advice you should analyse the current and ideal situation with a tactical and/or strategic focus. Also, you should apply theories, conceptual frameworks and/or models and present alternative solutions based on the literature and theoretical framework chosen. New Media Marketing and Communications Code Module ECTS FCEB-NMST-18 New media strategies and techniques 4 FCEB-SCCM-18 Storytelling, copywriting and content management 4 FCEB-APS-18 Advanced presentation skills 2 FCEB-BEC-18 Behavioral Economics 5 * Advanced communications strategies 5 FCEB-BMNM-18 Budgeting, Metrics & ROI for New Media 2 FCEB-MSEPI-18 Message strategy, ethics & psychological impact 3 FCEB-PCE-18 Promotional campaign effectiveness 5

*Note: There may be updates and module changes for Fall 2019

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Minor description New Media Marketing and Communications: Marketing practices is a rapidly changing environment, which presents new opportunities & challenges for marketers. By using new media technology such as social media, and mobile marketing, students will learn how to create informative and interactive platforms, while reaching their customers. In this minor, students will experience the challenges of maintaining a brand's promise across a growing array of new-media channels. Through a combination of case studies, marketing research, best practice examples, and new media marketing strategy plans and projects, the student will learn the key elements of digital strategy, and how they can work together with traditional media to attract customers. Block 1: • New media strategies and techniques • Storytelling, copywriting and content management • Advanced presentation skills • Behavioral Economics Block 2: • Advertising design across media • Budgeting, Metrics & ROI for New Media • Message strategy, ethics & psychological impact • Promotional campaign evaluation Modules New media strategies and techniques This module focuses on the need for a dynamic online presence, as well as strategies and techniques necessary to achieve this goal. Modern organizations will be examined on their use and techniques of social networks, and other online media for their business. This course will allow the participant to gain insight into how new media influences the business, the brand, goals and outcomes.

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Storytelling, copywriting and content management This module is designed to provide participants with the necessary skills for managing the various phases within which the narrative of a brand, product or service is articulated. This includes the content production and methods that support narrative. The participant will focus on the art of narration for promotional and positioning purposes, by producing content that communicates with stakeholders and prospectives. Advanced presentation skills To get the idea across, when it comes to creative advertising strategy, one must learn to speak customer oriented, knowledgeably and persuasively in a challenging environment. The participant in this module will focus on developing client and customer communications skills, and improve their presentation skills, by focusing on key methods that create an engaging, persuasive and winning speech. Behavioral Economics This course describes how the use of evidence from psychology can improve the predictive power of standard economic theories. Standard economic theories represent human beings in ways that are often different from the way they actually behave. Evidence suggests that human behavior is often different from standard ideas of economic rationality in predictable ways. Predictions about individual behavior are more accurate and the policies of governments are more effective when this evidence is effectively used. This course seeks to provide a wide-ranging but nontechnical survey of behavioral economics, which is a relatively new but rapidly developing field. Experimental evidence on behavior collected by psychologists and, increasingly, economists will be presented. Observed behavior will be compared and contrasted with the behavior assumed in standard economic theory. The ways in which the predictions of economic theory can be improved by utilizing the available evidence on human behavior will be discussed. The course will also discuss how the combination of economic and psychological theory improves the design of government policies and marketing strategies.

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Advanced communications strategies The advertising industry requires individuals with innovative, creative and original ideas, as well as technical abilities to develop captivating ads across media. For this module, the participant will learn how to translate marketing objectives into focused media campaigns, assess the strength and weaknesses of different media types, from traditional and emerging platforms. Budgeting, Metrics & ROI for New Media When considering ads on digital platforms, you should proceed with caution and with a very specific budget in mind. In order to secure executive buy-in and budget for your social marketing strategies you need to demonstrate how your efforts are contributing to the business’ goals. Social media, like other channels, must prove its return on investment (ROI). But beyond proving the impact on your organization, measuring and tracking metrics for ROI lets marketers dedicate more time and resources into what’s working, and improve the tactics that aren’t delivering value. In this module, the participants will look at the overall scope of media budgets, metrics and ROI for online campaigns. Message strategy, ethics & psychological impact In this module, the participant will focus on the key elements of a good message strategy, in order to develop a good advertising campaign that targets the intended audience. To effectively understand the importance of message strategies, participants will learn about the advertising appeals and executional frameworks through various examples. There will be significant emphasis placed on the importance of good ethical practices in advertising and the potential psychological impact when this is not applied. Promotional campaign effectiveness This module describes techniques to determine the effectiveness of certain promotional activities. During the program students’ will acquire knowledge and skills on how an activity can be tested before it is implemented on a larger scale and how it can be evaluated or monitored during the process of the activity. Furthermore, the

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module describes ways to determine if an activity was effective in reaching certain objectives of a brand, product or company. Health Aging and Pensions Code Module ECTS * Healthcare System & Health Economics 5 * Behavioral Economics 5 * Health Aging: Promotion & Prevention 5 * Pension System Design 5 * ALM for Institutional Investors 5 * Labor Economics 5

*Note: This is a new minor. More information will be soon available. Minor description Health Aging and Pensions: One of the great achievements of the twentieth century is the dramatic rise in life expectancy. This goes along aging. What are the implications of an aging population? An older population presents many challenges to healthcare (systems), labor markets and government spending in terms of pensions and benefits. ▪ Population of Aruba is aging at a relative rapid pace; this in combination with

unhealthy lifestyles jeopardize Aruba’s future. ▪ In this minor, the student will analyze and discuss important issues related to

healthcare, labor market and social security.

For more detailed information on all courses, visit the course catalog.

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Admission and registration procedures: International students who would like to spend a semester or more studying at the University of Aruba are invited to apply. Go to http://www.ua.aw/about-the-ua/students/ For students from institutions with which the University of Aruba does not have an Exchange Agreement (check the link above), for tuition fees apply. For more information please contact the Office of International Affairs: oia@ua.aw

University of Aruba