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Masters in Global Finance

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Master of Science in Global Finance (M.Sc.) in Germany

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Why study finance? Higher education as Finance Leader

Finance is one of the most attractive employer markets for business economists. The prerequisite for your career in the capital market, however, is a deep understanding of its interrelationships, processes, and actors. By studying Global Finance (Master of Science), you lay the foundation for your career in international companies and groups. As a manager in senior management, you will acquire in-depth specialist knowledge of finance over four semesters, language skills in English as the language of instruction and another language, as well as competence in team leadership.

Economy meets capital

In the master’s programme “Global Finance” you will acquire in-depth knowledge in business administration and finance. Your university education will focus on seminars on “Business Economics”, “International Investment” and “Values Based Management”.

  • ECTS 120
  • Semester 4
  • Language English
  • Type of Study Full-time
  • Degree Master of Science
  • Campus Cologne
  • Internship Integrated
  • Semester Abroad Optional
  • Start of Studies Cologne Winter
  • Study Fees Cologne* 5.370 €
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RANKINGS & ACCREDITATIONS

Study Course Plan

Some information about the study plan for the study programme Masters in Global Finance:

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

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

Programme specific teaching units

Global Finance3 ECTS ? !
  • Foreign exchange and eurocurrency markets

  • 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 Investment3 ECTS ? !
  • World trade and international monetary system

  • Treasury management of international transactions

  • Cross border capital budgeting

  • Corporate governance and international market for corporate control

Interdisciplinary competencies

Advanced Intercultural Team Leadership2 ECTS ? !
  • Cultural theories and models

  • The influence of culture on behaviour

  • Team typologies

  • Phases of team development

  • Trust and control

  • Emergence and avoidance of conflicts

  • Leadership verses management

  • Leadership styles

Advanced Negotiation & Influencing Skills2 ECTS ? !
  • Positional and principal negotiations – advanced strategies and tactics

  • Identifying the opponent’s negotiation profile

  • Understanding the personal negotiation profile and preferences

  • General persuasion techniques

  • Negotiation maneuvers and tactics for advanced players

  • Techniques for opponent engagment

  • Managing emotions and self- programming for defending your point of view

  • Cialdini’s 6 principles of persuasion

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

International Economics3 ECTS ? !
  • Globalization and income

  • Globalization and international trade

  • Trade and comparative advantage

  • Trade barriers and trade policy

  • Firm location, distance and transport costs

  • Currency crises and exchange rate policy

  • Financial crises, firms and the open economy

Applied 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

Programme specific teaching units

Corporate Tax3 ECTS ? !
  • Different types of taxes

  • Process of taxation

  • Issues in taxation

  • Impacts of taxation

  • Nature of taxation

  • International nature of taxes

  • New developments in the field of taxes

Advanced Financial Accounting3 ECTS ? !
  • Revision of company accounting: Presentation of financial statements and overview of investment accounting standards

  • Business combinations: Types of business combinations, joint ventures

  • Consolidation theories and methods: Consolidation on date of acquisition, impairment

  • Consolidation subsequent to acquisition date

  • Accounting for foreign currency transactions: Hedges

  • Off-balance Sheet Financing: Recognition & Valuation

Empirical Analytics for Finance3 ECTS ? !
  • Brief review of probability theory and statistics

  • Non-linear regression functions

  • Regression with panel data

  • Regression with binary independent variable

  • Time series regression and forecasting

Portfolio Management3 ECTS ? !
  • Identify different categories of common stock

  • Develop a good idea for equity strategy and security selection

  • Develop skills to manage and monitor activities of asset programs

  • Identify efficiencies and savings

  • Identify how returns are generated on preferred stocks

  • Identify and apply portfolio management process

  • Evaluate Value at Risk (VaR) and Expected Shortfall

  • Analytical VaR Models

  • Model complex portfolios

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.

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

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.

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

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

Fixed Income & Securities3 ECTS ? !
  • Fixed income instruments

  • Term structures of rates and yields

  • How are bonds traded?

  • Fixed income risk: Duration and Convexity

  • Corporate bonds: Credit risk

  • Fixed income indexes

  • Yield curve strategies

  • Interest rate scenario analysis

  • Credit strategies

Derivatives & Risk Management3 ECTS ? !
  • Futures and Forwards

  • Options and Swaps

  • Recent developments in OTC and Exchange-traded Derivatives

  • Overview of Market Risk Management

  • Risk measures for different asset classes

  • Portfolio Risk Measures

  • Valuation with Put-Call-Parity

  • Binomial option pricing model and the Black and Scholes model.

  • Risk measures beyond market risk

  • Single name Credit products: Bonds, CDS

  • Market implied default probabilities and correlations

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

Business Simulation Game3 ECTS ? !

In a business simulation game participants have to manage their own virtual company which operates in the same market as other participant-operated competitors. This involves making typical management decisions in realistic environments. Beside the deepening and active examination of subject-specific knowledge the simulation games also include the team environment, where interaction, communication and prioritization are of paramount importance. Participants learn how to manage risk and uncertainty while time is limited and information constrained. Group-reflections help to take over different perspectives and to discuss pros and cons of content- as well as behavior-related actions.

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.

Interdisciplinary competencies

Skills Elective2 ECTS ? !

In the Soft Skills Courses you will improve your social, leadership and project management skills. Additionally to the courses in the first and second semester you can choose another one in the third semester. Decide for yourself which of your personal competences you want to push forward.

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

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.

Programme specific teaching units

Master Thesis24 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.

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Internationally oriented studies

What analyses are required to assess risks? How can optimization potentials be determined in financial processes? These and other questions are dealt with in the seminars “Global Finance” and “International Investment” during your first semester. Starting in the second semester, the focus will be on topics such as Advanced Financial Accounting and Empirical Analytics for Finance.

Core competencies in “Mergers & Acquisitions”

The merger of two companies and the acquisition of business units are typical transactions in the international business environment. The entry into new sales markets and company growth often occurs through such M&A activities. Before this happens, however, it is necessary to evaluate the takeover candidate. During the first three semesters of the master’s programme “Global Finance” you will learn the tools for due diligence in the seminars “Empirical Research Methods” and “Applied M&A and Restructuring”.

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

Graduates with the first degree in business administration can qualify for the master’s programme if they have advanced knowledge of English. Basic knowledge of finance is an advantage.

What can you do with a degree in Finance? Career start made easy

After graduating, you will have many opportunities in the world of finance – from a management position in medium-sized organisations, to investment banks, to multinational corporations. With your master’s degree, you also have the admission requirement for 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

Practical knowledge as an advantage

Do you wish to make business contacts during your studies? At CBS International Business School, this is possible through practice-oriented teaching content such as Business Projects and an eight-week internship at home or abroad. In addition, your lecturers from the private sector will prepare you for the demands of everyday working life. You will deepen your business English skills in foreign language training and apply them during the English lectures. You can write your master’s thesis in the fourth semester as part of a project with a practical partner or at one of over 120 partner universities.

Build up your expertise with a graduate degree

NEED MORE REASONS? FIND OUT WHY CBS IS THE RIGHT CHOICE FOR YOU

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Desheng Zhou

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