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Masters in Financial Management

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Financial Management Master's Degree (M.A.) in Germany

controlling-und-finanzmanagement

English-taught master of finance

Finance is the backbone of the economy of every country and every company. This is where you see your future. You have discovered your talent for finance and are now ready for the next step: a four-semester master’s degree programme in financial management at CBS International Business School qualifies you for higher management tasks in international corporations. Here you acquire the skills that employers are looking for: along with outstanding expertise, this especially means being highly motivated, multilingual, and capable of leadership, integration, and teamwork.

Specialize in Finance in your Master’s Degree

In addition to special finance seminars and courses, this includes everything from a modern Master’s in Business Administration – from business economics to corporate governance to value-based management and sustainable supply chain management. Elective subjects offer you the possibility to set your own priorities.

What are the contents of the master of finance? Ready for mergers & acquisitions

Mergers & acquisitions are an essential means for growing or opening up new markets, especially in an international business environment. Here, your analytical skills are needed when going through the books of an interesting candidate for takeover. In the first semester, you will deepen your knowledge about empirical methods, the second semester will be about empirical finance and in the third semester, you will get to the bottom of the success factors underpinning mergers, acquisitions and restructuring.

  • ECTS 120
  • Semester 4
  • Language English
  • Type of Study Full-time
  • Degree Master of Arts
  • Campus Cologne | Mainz | Potsdam
  • Internship Integrated**
  • Semester Abroad Integrated**
  • Start of Studies Cologne Summer + Winter
  • Study Fees Cologne* 5.310 €
  • Start of Studies Mainz Winter
  • Study Fees Mainz* 4.950 €
  • Start of Studies Potsdam Winter
  • Study Fees Potsdam* 4.950 €
FINANCIAL AID
RANKINGS & ACCREDITATIONS

Study Course Plan

Some information about the study plan for the study programme Masters in Financial Management:

General business teaching units

Business Economics3 ECTS ? !
  • Demand analysis & estimating demand

  • Supply and market equilibrium

  • Production economics

  • Cost analysis

  • Estimating cost functions and production functions

  • Economies of scale

  • Prices, output and strategy in different markets

  • Game theory models of oligopoly

  • Pricing techniques and analysis

  • Government regulation

Empirical Research Methods3 ECTS ? !
  • Quantitative and qualitative methods

  • Development of a research question

  • Steps of research process

  • Methods of data collection

  • Sampling

  • Data analysis using statistical software programs (SPSS or R)

  • Writing a research report

Strategic Analysis & Management3 ECTS ? !
  • Strategy making process and strategic reasoning

  • Cultural and institutional context of strategic management

  • Network-level strategies

  • Corporate development and configuration

  • Strategic change and corporate restructuring

  • Strategy evaluation and strategic controls

Innovation Management & Digital Transformation3 ECTS ? !
  • Dynamics of innovation & their implications for change management

  • Individual creativity and invention

  • Corporate creativity & intrapreneuring

  • Technology management

  • Innovation and technology strategies

  • Managing innovations

  • Diffusion of innovations

  • Cultural differences in innovation capability

  • Contemporary trends in innovation management

Programme specific teaching units

Corporate Finance3 ECTS ? !
Global Finance3 ECTS ? !
  • Introduction to Multinational Finance

  • Foreign Exchange and Eurocurrency Markets

  • Rationale for hedging currency risk

  • Managing operating exposure to currency risk

  • Foreign market entry and country risk management

  • Multinational capital structure and cost of capital

  • Real options and cross-border investment strategy

  • International capital markets

International Financial Accounting3 ECTS ? !
Management Accounting3 ECTS ? !
  • Managerial accounting and global business environment

  • Cost term, terms and classifications

  • Systems design: Job-order costing

  • Systems design: Process costing

  • Cost-volume-profit relationships

  • Sustainability and ethics in accounting decision making

Interdisciplinary competencies

International Project Management2 ECTS ? !
  • Social competence: Communication, motivation, groups and team structures, leadership, conflict management

  • Methodological competence: Structural aspects, time management, cost management, human resource management, creativity and problem solving

  • Organisational competence: Quality management, documentation, risk management, project start and closure

Language & Communication Skills2 ECTS ? !

The “Advanced Critical Thinking & Writing Skills” course is offered for German native speakers. Non-native speakers of German can choose between the “Advanced Critical Thinking & Writing Skills” course taught in English and German as a foreign language.

General business teaching units

Corporate Social Responsibility3 ECTS ? !
  • Cornerstones of sustainable management

  • CSR as management approach

  • Practical approaches of organizational effectiveness

  • Tools for CSR implementation

  • CSR and financial performance

  • Life cycle assessment

Corporate Governance3 ECTS ? !
  • Historical developments around the world

  • Directors and board structures in different parts of the world

  • Family business governance

  • Role of institutional investors

  • Corporate governance in mergers and acquisitions

  • Socially responsible investments

  • Corporate governance in different regions

Value Based Management3 ECTS ? !
  • Financial measurement of corporate strategies: the principles

  • Traditional value-based systems and their link with financial models

  • Cash flow return on investments (CFROI)

  • Customer life-time value

  • Corporate financial & compensation design

Sustainable Supply Chain Management3 ECTS ? !
  • Defining a sustainable supply chain

  • Discussion of various theoretical concepts and their implications for sustainable supply chain management

  • Green marketing

  • Green logistics

Programme specific teaching units

Applied M&A & Restructuring3 ECTS ? !
  • Corporate strategy evaluation and development of strategic options

  • Emergent and prescriptive approaches

  • Gap closing strategies

  • Buy strategies: Mergers and Acquisitions

  • Build strategies: Strategic renewal, organic corporate development strategies

  • Ally strategies

Experience Lab3 ECTS ? !
Business Project6 ECTS ? !

The overall objective of this course is to provide students with possibility of applying their business knowledge on concrete business situation, related to the field of their specialization.

By the end of the module students should be able to:

  • Define project goals for the “client”.

  • Work under the set timeframe and agreed project scope.

  • Cooperate in the international project teams.

  • Evaluate markets/ industries/ competitive landscapes.

  • Develop possible strategic directions for the “client” business.

  • Formulate recommendations.

Elective area

Business Elective3 ECTS ? !

By choosing Business Electives in the second and third semester you can personalize your degree course and extend your management knowledge. The following are examples of the types of courses on offer:

  • Corporate Strategy and Renewal

  • Digital Network Economy

  • Digital Leadership

  • Portfolio Theory

  • Power Pricing

  • Finance & Growth

  • Advanced Portfolio Management

  • Branding

  • International HRM

  • Start-up Management & Business Modeling

  • Trader in Capital Markets

Interdisciplinary Elective3 ECTS ? !

By choosing Interdisciplinary Electives in the second and third semester you can personalize your degree course and extend your management knowledge. The Interdisciplinary Electives usually include subjects like:

  • Chat Bot Design

  • International Competitiveness

  • Omni-Channel Commerce

  • International Trade and Emerging Markets

  • Bitcoin and the Market of Cryptocurrencies

  • Business Process Modeling

  • Design Thinking & Adobe Creative Cloud

  • SAP S/4 Hana in Controlling and Finance

  • App Development in JavaScript

  • East Asian Culture and Business

  • Cultures of Consumption

  • SPSS

Interdisciplinary competencies

Financial Fraud and Ethics2 ECTS ? !
  • Financial fraud and its manifestations

  • Ethics in finance

  • Alternative Banking Models like those of Triodos and GLS Banks

  • Alternative business models like those of KIVA and BOVESPA

  • Alternatives to growth models

  • Alternative investment products like Social Impact Bonds

  • Impact Finance and Micro Finance

  • Understanding the alternative Indices and their shortcomings

  • Rating Agencies and soft factor scores.

Programme specific teaching units

Empirical Analytics for Finance3 ECTS ? !
  • Brief review of Probability theory and Statistics

  • Linear regression with one regressor

  • Linear regression with single regressor – hypothesis tests and confidence intervals

  • Multiple regression

  • Non-linear regression functions

  • Regression with Panel Data

  • Regression with Binary independent variable

  • Time series regression and forecasting

Risk Management in Capital Markets3 ECTS ? !
Advanced Corporate Finance and Valuation3 ECTS ? !
Portfolio/Asset Management3 ECTS ? !
Start-up/Innovation Lab - Business Plan Writing & Pitching4 ECTS ? !
Mini Capstone Project (incl. Comprehensive Assessment)3 ECTS ? !
Capestone - Simulation Game3 ECTS ? !
Master Thesis Tutorial2 ECTS ? !

During the Master Thesis Tutorial you will learn the fundamentals for your Master thesis: Defining the topic as well as structuring the thesis and you will learn the theoretical knowledge for scientific working.

Elective area

Business Elective3 ECTS ? !

By choosing Business Electives in the second and third semester you can personalize your degree course and extend your management knowledge. The following are examples of the types of courses on offer:

  • Corporate Strategy and Renewal

  • Digital Network Economy

  • Digital Leadership

  • Portfolio Theory

  • Power Pricing

  • Finance & Growth

  • Advanced Portfolio Management

  • Branding

  • International HRM

  • Start-up Management & Business Modeling

  • Trader in Capital Markets

Interdisciplinary Elective3 ECTS ? !

By choosing Interdisciplinary Electives in the second and third semester you can personalize your degree course and extend your management knowledge. The Interdisciplinary Electives usually include subjects like:

  • Chat Bot Design

  • International Competitiveness

  • Omni-Channel Commerce

  • International Trade and Emerging Markets

  • Bitcoin and the Market of Cryptocurrencies

  • Business Process Modeling

  • Design Thinking & Adobe Creative Cloud

  • SAP S/4 Hana in Controlling and Finance

  • App Development in JavaScript

  • East Asian Culture and Business

  • Cultures of Consumption

  • SPSS

Interdisciplinary competencies

Programming & Modelling 2 ECTS ? !
  • Introduction to Python (modulisation)

  • Coding in Python (data assignment/updates, data types, )

  • Solving iterative problems (understanding and creating loops)

  • Making decisions (understanding and creating selection statements)

  • Working with structured data (strings, lists)

  • Documenting

  • Testing

  • Debugging

Programme specific teaching units

Master Thesis18 ECTS ? !

During your 4th semester you are working on your Master thesis. You have 19 weeks to complete your thesis and the subject is freely selectable. A supervisor from CBS will support you and you can write the thesis in collaboration with a company as well. Or you can write your thesis in connection with a stay abroad.

Internship or Study Abroad10 ECTS ? !

In the fourth semester, you work on your Master's thesis. You can choose whether you write your Master's thesis in cooperation with a company during an internship or during a semester abroad at one of our partner universities.

controlling-und-finanzmanagement_student

Finance expertise on an international level

Weigh up opportunities and risks by utilizing analyses and financial design models to find potential for optimization – your future knowledge shall determine the success of your company. In the first semester, you will begin with the subjects Global Finance and International Investment. In the second semester, you will be dealing with risk management and the many influencing factors in transnational business, taking into account the challenges of the international financial markets such as exchange rates, parities and trade restrictions.

Experience practically the real thing

In order to be able to best apply your knowledge after graduation, the practical reference during your studies at CBS provides a unique advantage and not only thanks to the subjects of instruction and lecturers from the private enterprise sector. A business project, a business simulation game and an  internship at a company in Germany or abroad prepare you for a career in the real world.

You will learn how to convince investors, partners and managing directors in the Innovation Lab - Business Plan Writing and Pitching and advance skills in the Capstone Simulation Game. In this digital business game, you take business decisions with your team and put your business know-how into practice.

Your excellent English skills will be of great importance for your future career, which you will improve thanks to English being the study language – reinforced by additional language courses. For many of our students, the practical relevance is also of interest when composing their Master’s thesis. This is because the work you write in the fourth semester is often written within the framework of an internship. Alternatively, you have the opportunity to write your thesis as part of a semester abroad.

What are the requirements for a master's degree in finance?

You must have successfully completed a first degree in Business Administration (e.g. a Bachelor’s degree in International Business at CBS) and be completely fluent in English. We also recommend sound basic knowledge in the subjects finance and accounting.

Master of Finance - What are the job opportunities? 

Your Master’s degree in Finance from one of Germany’s most prestigious business schools offers you the opportunity to take up professional and managerial positions at home or abroad, in small and medium-sized organisations or with multinational corporations, investment banks, insurance companies or financial advisory firms. The Master’s degree also allows you to continue your academic career, including a doctorate.

Alumni Testimonials_Oliver Kiderle

"The focus on internationality and practical skills have had a very positive influence on my development at Google. Especially the structured and very versatile project work, which is often found at a private school, was extremely helpful."

Oliver Kiderle

EMEA Regional Product Expert
Google Inc.
Alumni Testimonials_Patrick Stein

"The strongly practice-oriented studies and the international orientation of the CBS, as well as the lectures held in English, were an absolutely necessary basis for starting a career with a renowned, international company."

Patrick Stein

Head of Human Resources
Boston Consulting Group
Alumni Testimonials_Katrin Rieger

"The practical learning in small groups prepared me optimally for today's project and team work. The CBS provided me with the decisive soft skills and current knowledge from the world of business."

Katrin Rieger

Bereichsdirektorin Reisevertrieb Deutschland / Vice President Sales
HanseMerkur Krankenversicherung
Alumni Testimonials_Kalle Kenkel

"My studies at CBS prepared me for a career in today's dynamic, global work environment. As one's origin and physical location become less and less decisive, it has become increasingly important to have a multinational network and adapt quickly to various cultures and environments."

Kalle Kenkel

Trainee Performance Marketing
RTL Mediengruppe

"Above all, practice-oriented learning and soft skills made it easier for me to enter the professional world and I still benefit from this today. Internationality, learning in small groups and soft skills were then and still are my main reasons for choosing the CBS."

Henriette Hellwig-Stieger

Senior Consultant
Compass GmbH
Alumni Testimonials_Philip Kollmann

"Especially the soft skill courses have been of great help for my performance in job interviews. Through my work in the Finance and Business Club I have built up a broad network and acquired project management skills that have enabled me to score points with companies."

Philip Kollmann

Projektmanager
Wayne´s Coffee Deutschland
Alumni Testimonials_Julia Hack

"My studies at the CBS have given me a very good basis, which helps in many ways with a start-up - be it with financial planning or marketing strategy."

Julia Hack

Gründerin
Green for me
Alumni Testimonials_Florian Schuhmacher

“In addition to an excellent academic education CBS provides its students with all the necessary tools and instruments they need to allow them to take responsibility and shape their future in an international environment.”

Florian Schumacher

Programme Director and Senior Consultant
KCIG GmbH
Alumni Testimonials_Christoph Rosenbaum

"The Management Studies programme prepares you thoroughly for the tasks of a consultant. In particular, the development of presentation techniques as well as analytical thinking is of enormous importance in the everyday life of a consultant."

Christopher Rosenbaum

Manager
Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft

"The CBS taught me the essential professional basics for this with realistic and up-to-date lectures."

Christian Böhmer

Strategic Analysis Manager
Oman Oil Company S.A.O.C
Alumni Testimonials_Britta Jansen

"The CBS is an internationally oriented and very practically orientated university which prepared me very well for the professional world through the compulsory internship, the courses offered and the required project/group work."

Britta Jansen

HR Business Partner
HRS Group
Alumni Testimonials_Neil Jordaan

"Many professors shared their professional business experience with us in class and were able to illustrate dry theory with practical examples. I also enjoyed the international atmosphere on campus."

Neil Jordaan

Global Content Manager
Bayer AG

Build up your expertise with a graduate degree

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