Master in International Finance (MIF)

uvaMaster in International Finance is a postgraduate programme that offers cutting-edge developments in International Corporate Finance & Valuation, Investment, Financial Modelling, M&A, Asset Management and Risk Management.

  •  The course curriculum aims to prepare students for a professional career in finance rather than an academic career. Nevertheless, high academic standards are maintained and students are introduced to the most recent knowledge in the respective areas.
  • The programme allows you to study full-time over a period of 12 months, part-time over a period of 18-24 months for working students or to study modular. All courses are conducted in English and organized 2-3 evenings during weekdays (Monday-Friday)

Course outlines

Advanced Asset Management (elective)
This course aims at enhancing your understanding of recent developments in asset management. The focus is on advanced asset management techniques, such as dynamic asset allocation strategies, performance measurement, and style analysis. In addition, the latest research on alternative investments, such as hedge funds and private equity, will be reviewed.

Advanced Corporate Finance & Valuation
The first part of this course provides an advanced treatment of corporate valuation methodology (e.g., Pro-forma Forecasting, APV, FTE, WACC, Economic Profit, Multiples). We will apply valuation techniques to a variety of business contexts, including M&A, leveraged buy outs, and international project finance. The second part of the course reviews theories of capital structure and payout policy. It also provides a discussion of recent empirical research on the value impact of capital structure decisions.

Advanced Financial Econometrics (elective)
The aim of this course is to model and explain financial returns and financial risk using advanced econometric techniques that are applied in risk management and portfolio analysis. The main topics are predictability of returns and the efficient market hypothesis, common trends using co-integration methods, and time-varying volatility using ARCH and GARCH.

Financial Analysis and Valuation (elective)
This course covers advanced issues in corporate valuation, accounting, and financial analysis. The focus is on understanding and dealing with the complexities that arise in the implementation of valuation models and analysis of financial statements. Topics covered include, among others: review of enterprise and equity valuation methodology, treatment of pension deficits, minority interests, and leases, advanced issues in pro forma forecasting and cost of capital estimation, valuing M&A, cross-border valuation, and valuation of financial institutions.

Computational Finance with MATLAB (elective)
This course provides an introduction to MATLAB, an interactive programming environment that is widely used in the financial services industry. The course deepens your knowledge and understanding of finance theories by developing MATLAB applications and building financial models in areas such as portfolio management, derivatives pricing, and risk management.

Finance Research Workshop
The aim of this course is to prepare you for the master thesis research project. It reviews key elements of research methodology, empirical research methods, and research design, and provides a structured setting where you develop a successful research project proposal.

Financial Derivatives
Derivative products have a profound impact on financial markets, and there is extensive interaction between academic research and business practice. This course seeks to find a balance between theory and practice by examining the fundamental principles of the valuation of derivative securities and structured products, and discussing a series of case studies and applications.

Financial Econometrics
A working knowledge of econometrics is indispensable in finance, for example in the evaluation of portfolio performance. This course provides a hands-on approach to developing skills for the statistical and econometric analysis of financial models.

Financial Modelling
This course focuses on building financial models with Excel and VBA for corporate valuation, portfolio management, and financial derivatives. The classes will be directed towards applying finance theory to building implementable models that are widely used in practice.

International Financial Management
The aim of this course is to provide you with a deep understanding of financial management issues in an international setting. Topics covered include international debt and equity markets, cross-border capital budgeting and financing, foreign exchange risk measurement and management, international taxation and transfer pricing, and international portfolio investment and global asset allocation.

Investments
This course provides an advanced treatment of modern investment theory, asset pricing, and portfolio management. The course reviews fixed income valuation and portfolio management, optimal portfolio selection and capital asset pricing theories, empirical tests of asset pricing theories, performance evaluation, and market efficiency. It also provides a discussion of recent developments in asset pricing research, including behavioral finance.

M&A, Restructuring, and Corporate Governance
The first part of this course provides in-depth coverage of M&A, bankruptcy, and corporate restructuring. It strikes to seek a balance between theory and practice by reviewing the conceptual underpinnings of M&A and corporate restructuring as well as discussing a number of case studies. The second part provides a discussion of international corporate governance, including the role of large shareholders and boards in governance, the market for corporate control, pyramids and cross-holdings, and protection of shareholder and creditor rights.

Real Estate Finance (elective)
This course analyzes the role of real estate assets for portfolio decision making. It provides a framework to analyze the different vehicles of real estate investments (such as, REITs, CMBS) and their financing, to describe the international real estate marketplace, and to address the challenges of performance measurement for real estate assets.

Risk Management & Financial Institutions
This course examines the role of banks in modern economies, and it provides an analysis of the ways in which risks are quantified and managed by financial institutions. Among the topics covered are the nature and economic role of commercial and dealer banks; the measurement, modelling, and management of market risk, credit risk, and liquidity risk; and regulation of financial institutions (in particular, Basel I – III) and other policy issues of topical interest (e.g., concerning the market for credit derivatives, Dodd-Frank Act, etc.). All major concepts will be directly linked to the 2007-2009 credit crisis and to other major financial crises.

Financial Accounting (Pre-Course Training)
This course provides an introduction to financial accounting. Topics covered include, among others: accounting principles and financial statements, accounts, debits, and credits, income and cost recognition, current assets (accounts receivable, inventory), long-term assets (PPE, investments, and intangibles), current liabilities, long-term obligations, and corporate equity accounting, statement of cash flows, and financial and ratio analysis.

Fundamentals of Finance (Pre-Course Training)
This course provides an introduction to corporate finance and investments. Topics covered include, among others: principles of valuation and financial decision-making, time value of money, interest rates, and loan amortization, investment decision rules, valuation of bonds and stocks, capital budgeting, portfolio selection, pricing of risk, and the Capital Asset Pricing Model, debt and taxes, cost of capital estimation, and capital structure.

Quantitative Methods & Research Skills (Pre-Course Training)
This course reviews probability, inferential statistics, basic econometrics, and provides an introduction to qualitative and quantitative research methodology and design.

  • The Leadership programme is an integral part of the curriculum. It consists of an International Study Trip to Cape Town, South Africa and an workshop “Financial Ethics and Governance”. We also offer a series of workshops devoted to career and job market skills for both full-time and part-time students.
  • Our lectures are from the academic field and from our network of experts from the financial services industry. This guarantees a practical relevance through their involvement in the development of courses and guest lectures. This Advanced Masters of Science programme in International Finance is the key to Leadership and Excellence in Finance.
  • For more information on our Admissions requirements, click on the link below:

Admissions requirements

Bachelor’s or Master’s degree:
Candidates seeking direct admission to the MIF programme are required to hold a recognized Bachelor’s or Master’s degree from a research University (including universities of technology or engineering) in a related field (e.g., business administration, economics, engineering, natural sciences, mathematics, law). Depending on your academic background, you may be required to complete part or all of the MIF Pre-Course Training (summer online course) before the start of the regular course programme. Please find below more information about the MIF Pre-Course Training.

Candidates holding a Bachelor’s or Master’s degree from a “University of Applied Sciences” (HBO) in the field of business may qualify for admission to the MIF programme conditional on successful completition of qualified pre-master programme (“schakelprogramma” in the Netherlands). Please find below more information about the Pre-Master programme for MIF candidates at the Amsterdam Business School.

Work experience:
A minimum of 1-2 year’s of relevant work experience is required (relevant internships are included).

  • Evidence of analytical and conceptual skills, a desire to strive for excellence, a proven capacity for hard work, and willingness to contribute to a highly diverse learning environment in terms of nationalities and backgrounds.
  • The GMAT or GRE is compulsory for all applicants to the full-time programme. We require a minimum GMAT score of around 630 and a minimum analytical writing score of around 4.0. The required minimum GRE score is around 650 (quantitative) and around 4.0 for analytical writing (the combined score should be 1200 or higher). In case the GRE score is based on a 130-170 scale we require a quantitative score above 150 and a total score of at least 307. You can ask the test institutions to send the score report directly to us (please find our institution codes below).
  • ABS The Intellectual Capacity Test (part-time programme): If you apply to the part-time programme you can opt to take our The Intellectual Capacity Test test as a substitute for the GMAT or GRE. The admissions office will provide you with further information and arrange the test with you.

GMAT or GRE:

Candidates with a degree from a University of Applied Sciences (HBO)
Candidates with a Bachelor’s or Master’s degree from a “University of Applied Sciences” (HBO) in the field of business may qualify for admission to the MIF programme conditional on completition of a qualified Pre-Master programme.

Amsterdam Business School offers a Pre-Master programme in Management studies or Pre-Master MIF  for HBO candidates seeking admission for the Master in International Finance Programme:

Pre-Master programme MIF (start September 2014)
The duration of the Pre-Master programme is one year and classes take place on Fridays, please find he schedule of last year below. The Pre-Master programme consists of 4 courses, including an academic project.

This preparatory programme consists of the following courses offered in 1 academic year.

  • Management Research Methods 1 (2×6 weeks)
  • Management Research Methods 2 (2×6 weeks)
  • Fundamentals of Corporate Finance
  • Academic Project

Fee
The fee for the ABS Pre-Master MIF programme is €3500. Candidates who are admitted to the MIF programme after and have completed the ABS Pre-Master MIF are exempted from the MIF pre-course training. (Except possibly the Financial Accounting part which will depend on your academic background or work experience.)

English language proficiency:
We require evidence of English language proficiency. Minimum TOEFL score: 100 or minimum IELTS score: 7.0. You can be exempted from this requirement if 1) you are a native speaker of English, 2) you have at least 2 years of professional experience in an English speaking work environment, 3) you have taken an English-taught Bachelor or Master degree (please note that your diploma or transcripts should mention that the language of instruction was English – if the language of instruction is not mentioned on the transcript or diploma, you will need to submit a letter from your higher education institute stating that the curriculum is completely taught in English), or 4) you obtained a Dutch VWO high school diploma.

MIF Pre-Course Training (Summer On-line Course)

Depending on your academic background, you may be required to complete part or all of the MIF Pre-Course Training (PCT).

  • Candidates with a “matching” research university Bachelor degree or higher will be exempted from the PCT. A “matching” degree is a degree in finance, business, or economics with substantial coverage of corporate finance, investments/asset pricing, financial accounting, and econometrics and/or statistics / quantitative methods.
  • Candidates with a “non-matching” research university Bachelor degree or higher may be partially exempted from the PCT, depending on academic background and/or relevant work experience.

The PCT takes place during the summer months before the start of the regular course programme. It brings you up to speed with Fundamentals of Finance, Financial Accounting, and Quantitative Methods & Research Skills.

The PCT does not require on-campus presence, as courses are facilitated through a tailor-made online learning platform. The examinations for the separate courses are scheduled in Amsterdam at the end of August 2014. There is no additional fee for the PCT.

After applying to the programme our admissions office will evaluate your profile and will let you know if you are required to complete the PCT.

For more information about the MIF Pre-Course Training please follow the link below.

Amsterdam Business School institution codes:

TOEFL = 6739
GMAT = 0500
GRE = 6739

·         Accreditation

A business school’s accreditations form an important indicator of the quality of the school and its programmes. We can proudly report that the Amsterdam Business School is accredited by EQUIS, the world’s leading accreditation for business schools, and our MIF programme is accredited by the Dutch-Flemish accreditation bodyNVAO.

·         Ranking

We are also very proud that the University of Amsterdam, the Amsterdam Business School, and the MIF programme all rank among the best in the world.


MIF Brochure