(Mauritius ) (France )

Transcription

1 UNIVERSITÉ DES UNIVERSITÉ DE MASCAREIGNES LIMOGES (Mauritius ) (France ) Faculty of Business and Management Faculté d Economie et de Gestion Department of Banking and Finance Département Banque et Finance MASTER : BANQUE ET FINANCE specialisation Financement des entreprises 1

2 1.0 DESCRIPTION DE LA FORMATION Ce programme en 1 année à temps plein, a pour objectif d assurer aux étudiants une maîtrise des fondamentaux de la Finance aux étudiants titulaires d'une licence dans un domaine compatible. La gestion financière de l'entreprise, les activités bancaires et l'environnement international sont au cœur de la formation. L'accent est particulièrement mis sur l'acquisition de méthodes et sur le développement d'une véritable culture financière permettant d'appliquer les instruments d'analyse à la réalité de la recherche et/ou de la pratique financière à Maurice. Il contient un mélange optimal de compétences théoriques et pratiques qui rendent les titulaires du MASTER 1/ MSc immédiatement employables. 2.0 CONDITIONS D ADMISSION Les candidats doivent satisfaire aux conditions d entrée décrites pour le DULT/ DULP/ BSC Banque et Services Financiers/ Comptabilité et Finance ou tout autre Licence/ BSC en sciences économiques, assurance. 3.0 PERSPECTIVES DE CARRIERES Officier des services bancaires Conseillers de clientèle dans des entreprises d investissements et globale. Officier des missions transversales, type gestion et encadrement. Officier d audit interne. Recherche en Banque et Finance Chargé d affaires entreprise ; Analyste financier ; Directeur d agence ; Conseil banque de réseau, banque d investissement ; Trésoriers. Secteur(s) d'activité(s): Finances, Comptabilité - Finance - Bourse 4.0 EVALUATIONS 2

3 L évaluation de l étudiant se fait en général par une combinaison de contrôles continus et de devoirs surveillés si possible, sauf pour certains modules qui ont leurs propres spécificités. Le nombre de crédits accordé à chaque module dépend à la fois du nombre total d heures passées par les étudiants à la faculté et chez eux. Stage en entreprise La première année se termine par un stage obligatoire de 6 semaines en entreprise du secteur concerné par la formation. Un rapport doit être soumis et pour lequel il y aura une soutenance. Local professionals from the finance sector can be called upon to assess the student in a panel composed of both these professionals and academic staff of the department where the presentation of the work can be conducted in either English or French language. The report (rapport de stage) can be written in either French or English language. 5.0 POURSUITE D ETUDES Des parcours de poursuites d études sont possibles pour ceux qui veulent entrer en Master 2 et aussi pour ceux qui veulent faire de la recherche dans les domaines spécifiques de la banque et des services financiers. 6.0 VOLUME HORAIRE GLOBAL semestre L T P Total Contact crédits C TD TP hours Hours Sem Sem * TOTAL Total hours include hours students spend in class, plus hours needed for students to master the module in terms of reading, research and preparation before and after the class. Contact hours means hours in class, including lectures, tutorials, practicals, classwork, group work and in class assessments. 3

4 YEAR I SEMESTER 1 MODULE Lecture Tutorial Language/IT Total Contact Credits Lab Hours Hours UE 11 : Accounting and Finance Financial Reporting Management Accounting Total UE UE 12 : Environnement Economique et Financier Strategic Bank Management Risk Management Techniques Total UE UE 13 : Techniques et méthodes Financial Mathematics and Information Technology Total UE TOTAL SEM

5 SEMESTER 2 MODULE Lecture Tutorial Language/IT Total Contact Credits Lab Hours Hours UE 21 : Environnement économique international International Economics Total UE UE 22 : Environnement financier Introduction to Financial Modelling Law Relating to Electronic Finance and Internet Banking Total UE UE 23 : Stage (6 weeks) 24 Total UE TOTAL SEM

6 Module Total hours Semester 1 Financial Reporting 30 L 15 T UE11 To provide students with the basic mechanics of Financial Management. Meaning, Objective and scope, Role of financial manager, Finance functions - Investment, financing and dividend decisions, Financial goal- Profit Maximization vs. Wealth Maximization, Agency problem.source of Finance: Short term and long term Source of Finance, Leasing as a Source of Finance, Cost of Capital: Concept and its significance, Measurement of cost of capital of various source of funds, Weighted average cost of capital, Capital structure decision: theories of Capital Structure, Optimum Capital Structure,Capital budgeting: Meaning and Process, Methods of analyze capital budgeting decisions, Capital rationing, Capital decision under risk and uncertainty Working Capital: Concept and significance, Determining working capital requirements, Management of Inventory, debtors and cash, Financing of working capital needs, Management of surplus: Retained earnings and dividend policy, Theories of dividend, Forms of dividend and corporate dividend behavior, Risk and return analysis: Risk Measurement, port folio theory, Capital Asset Pricing Model. Skills Familiar with figures Assessment Internal course assessment 30% Final exams 70% 6

7 Module Total hours Semester 1 Management Accounting 25 L 20 T UE11 This module aims at providing students with an understanding of techniques used to assist management in carrying its function of planning, controlling and making decisions. Prerequisites None Role of Management Accounting in an organisation. Elements of costs. Overheads. Marginal and Absorption costing. Break Even Analysis. Relevant costing for Decision Making. Budgeting. Variance Analysis. Assessment 70% written exams and 30% internal course assessment. 7

8 Module Total hours Semester 1 Strategic Bank Management 30 L 15 T UE 12 To enable students to examine bank strategy in a global economy To enable students to deal with strategic side of international banking To enable students to understand how banks acquire loan books and enter new marketsl Prerequisites None Financial Intermediation: Dynamics and Governance Mechanisms Strategic Drivers of Structural Change in Global Banking Strategy and Strategic Positioning Acquisition and use of funds Banks international M&A deals Business models and systemic risk Regulatory and Compliance Issues Assessment 30% internal course assessment : Assignment, Case Studies, ClassTest 70% Exam 8

9 Module Total hours Semester 1 Risk Management Techniques To enable students to: 30 L 15 T UE 12 outline the most important strategies of risk management explain how stocks and bonds can contribute to the risk and return of a financial portfolio discuss the key principles of diversification of financial investment Correctly measure the risk of financial portfolios explain the risk profile involved in financial derivatives, such as futures and options discuss the importance of Value at Risk and scenario analysis define and use the principles of credit risk analysis Prerequisites None Introduction to Risk Management Portfolio Analysis Management of Bond Portfolios Futures Markets Options Markets Risk Management with Options Value at Risk Credit Risk Assessment 30% internal course assessment : Assignment, Case Studies, ClassTest 70% Exam 9

10 Module Total hours Semester 1 Financial Mathematics and Information Technology 30 L 15 T 15 CL UE 13 To enable students to master the basic financial mathematical formula To enable students to interpret the basic financial mathematical formula To enable students to perform the basic financial mathematical formula using Excel Pre-requisites (optional) Sound knowledge of the Advanced Business Statistics, Excel, Principles of Investment Depreciation Interest - Cash Flow Investments Annuities Coupons Securities - Dollar Price Conversions - Treasury Bill Skills Financial Basics Skills IT skills (Excel) Assessment Continuous Assessment ClassTest Computer Lab Test Specific requirements to run module 1. Excel Enough PCs for all students 3. Computer Projector 10

11 Module Total hours Semester 2 International Economics To enable students to: 30 L 15 T UE 21 demonstrate how to apply economics principles to a wide range of issues in international economics demonstrate how to apply economic reasoning to global policy issues in a critical manner demonstrate knowledge of the current issues in economics, an appreciation of how economists address international economic issues and be familiar with current research issues in international economics Prerequisites None Importance of trade in the world economy and overview of current policy issues; The gains from trade; What determines specialisation? Ricardian and Heckscher-Ohlin-Samuelson models of comparative advantage; Empirical tests of the Hecksher-Ohlin-Samuelson model; Current policy issue: trade, labour markets and wages; Current policy issue: Off-shoring and labour markets 'New' trade theory: trade with imperfect competition Trade policy: reasons, extent and effects of trade policy protection; Measurement and instruments of protection; Trade liberalisation and the WTO; New issues in trade policy analysis: (i) strategic trade policy; New issues in trade policy analysis: (ii) trade and the environment; Regional trading arrangements Foreign Direct Investment Environmental economics 11

12 Module Contact hours Semester 2 Introduction to Financial Modelling 30 L 15 T 15 CL UE 21 To grasp basic financial math and models To grasp spreadsheeting To develop good basic financial models Pre-requisites (optional) Sound knowledge of the English language. 1. What is a financial model, steps in creating a model, how to build good models 2. Review of theory and concepts of finance : compounding and discounting, valuation of cash flows, zero s, forwards, and the term structure, fx spot and forwards, 3. Introduction to financial spreadsheets, Excel as a modeling tool Skills Financial Markets IT skills (Excel) Assessment Project-based Specific requirements to run module 1. Excel Enough PCs for all students 3. Computer Projector 12

13 Module Contact hours Semester 2 Law Relating to Electronic Finance and Internet Banking To enable students to: 30 L 15 T UE 22 define and distinguish the concepts of 'electronic finance', 'internet banking' and 'electronic banking' identify and critically discuss the legal problems relating to the completion of cross-border electronic funds transfers and securities transactions critically discuss the impact of economic and financial globalisation on the development and current state of traditional jurisdictional principles of international law critically discuss the impact of regulatory measures of consumer and investor protection on the development and current state of electronic commerce in financial services analyse the key issues and challenges relating to the regulation of securities activities via the internet explain the criteria used to determine the applicable law to cross border banking contracts for the provision of online services. Identify the environmentally friendly aspects of e-banking. Prerequisites None Introduction to Electronic Finance and Internet Banking Basic Legal Concepts and Foundations of Electronic Banking and Financial Activities Electronic Finance and the Globalisation of Financial Markets Prudential Regulation and Supervision of Electronic Finance and Banking Law of Electronic Banking Regulation of Securities Activities over the Internet Cross-Border Electronic Contracts Assessment Assignment and Case Studies Class Test Exam 13

14 MASTER 2: Financement des entreprises DESCRIPTION DE LA FORMATION Ce programme de 2eme année à temps plein, a pour objectif de former des généralistes capables d occuper les postes de toute la chaîne de financement des banques Il contient un mélange optimal de compétences théoriques et pratiques qui rendent les titulaires immédiatement employables. To adopt a more student-centred approach, a flexible form of teaching will be conducted in English and French where most appropriate to improve understanding. VOLUME HORAIRE GLOBAL semestre L T P Total crédits C TD TP hours Sem Sem 2 30* TOTAL * Hors stage de 6 mois 14

15 YEAR 1 SEMESTER 1 MODULE Lecture Tutorial Language/IT Total Credits Lab Hours UE 11 : Evaluation et gestion d actifs Financial Derivatives Total UE UE 12 : Gestion des risques financières Assets and Liabilities Management Total UE TOTAL SEM YEAR 1 SEMESTER 2 MODULE Lecture Tutorial Language/IT Lab Total Hours Credits UE 21 : Stage 30 Total UE TOTAL SEM 2 30 STAGE 6 mois :- Rédaction d un rapport de stage avec soutenance. Module Financial Derivatives To enable students to: Contact hours 30 L 15 T Semester 1 UE 11 price various credit instruments and evaluate critically their usefulness in risk reduction applications using MS Excel and Financial Calculators. understand the forms of basic derivative contracts and important hedging strategies understand the theoretical analysis of the Black and Scholes model, and its relationship to the Binomial Option Pricing Model price financial options using both analytical and numerical techniques 15

16 understand some popular interest rate option products and how they can be priced including all kinds of fixed and variable SWAPs and other fixed income instruments Forward Markets and Contracts Futures Markets and Contracts Option Markets and Contracts Swap Markets and Contracts Interest Rate Derivative Instruments Using credit derivatives to enhance return and manage risk General Principles of Credit Analysis Solving the Liquidity Conundrum Term Structure and Volatility of Interest Rates Valuing Bonds with Embedded Options Mortgage-Backed Sector of the Bond Market Europe's whole loan sales market burgeoning as mortgage credit market comes of age Asset-Backed Sector of the Bond Market Valuing Mortgage-Backed and Asset-Backed Securities Assessment Assignment and Case Studies Class Test Exam 16

17 Module Assets and Liabilities Management To enable students to: Contact hours 30 L 15 T Semester 1 UE 12 Learn how to assess the strengths and weaknesses in your current Asset and Liability Management process Dramatically enhance your practical understanding of strategic balance sheet management issues such as the impact of Basel II and IAS requirements on ALM decision making Appreciate the conflicts that can arise at the ALCO level in the application of both earnings and valuation methodologies to bank balance sheet management Gain a comprehensive understanding of symmetric and asymmetric hedging techniques and develop effective balance sheet hedging strategies banking and credit management Sample Banks Static Risk Assessment Strategic Liquidity Management Strategic Capital Management Funds Transfer Pricing GAP Analysis Valuation and Price Risk Static Risk Evaluation Hedging in ALM Value at Risk vs. Earnings at Risk Advanced Analysis Monte Carlo Overview and Application Assessment Assignment and Case Studies Class Test Exam 17

18 Objectifs Module Total hours Semester 2 Stage en entreprise 6 mois UE 21 Les étudiants effectuent un stage en entreprise d une durée moyenne de 6 mois. La mission de stage est en conformité avec l orientation de la formation et est validée, en coordination avec l entreprise, par l équipe pédagogique. A l issue du stage, un rapport est présenté et soutenu par l étudiant. Le rapport doit montrer comment la mission confiée au stagiaire s articule avec les enseignements reçus lors de la formation. Pré requis Une formation académique dans la filière Banque et Services Financiers assurée dans la formation de l étudiant au niveau M1/ MSc. 18