Program description: The Master of Science in finance and banking provides strong theoretical and empirical training in the tools of finance needed in modern financial institutions and companies. The students will advance through the areas of financial markets and instruments, corporate finance, portfolio analysis and management, financial reporting and analysis and banking management. For each area of interest the emphasis is on building the applied knowledge, analytical and critical thinking skills. Students would learn main finance tools through quantitative methods and use of specific statistical software. The program combines rigorous academic core with tailored practical application designed in consultation with the leading national financial experts. By combining the different elective courses, students will be able to build their own area of expertise in banking, finance or accounting.
Where you can pursue a professional career after the program?
The program offers strong theoretical and empirical foundations to pursue professional career in financial institutions, such as commercial banks, investment banks, pension funds, investment funds, brokerage firms, insurance companies and stock exchanges, as well as in financial departments of companies.
Degree: The program leads to a Master of Science in Finance and Banking.
Course delivery: The courses are delivered through Participant Centered Learning where the focus is on the student (participant). Hence, the delivery is through group and individual case solving and discussion, interaction and class participation, and comprehensive group or individual projects and coursework.
Prerequisites: Knowledge in Business Statistics and Computer Tools. For the applicants without sufficient knowledge in these subject areas (either degree of informally gained knowledge), the University organizes two introductory courses, in i) Calculus and math and ii) Principles of Accounting.
Knowledge and Understanding
Choose and apply tools of mathematical and statistical modeling using spreadsheets, database, software and internet for financial problem solving. Be able to value and evaluate performance of stocks, bonds, contingent claims and entire firms, both individually and in portfolios, using alternative theories and applications of risk and return.
Apply the knowledge to measure and mitigate risk of investment portfolios of individuals and corporations using financial instruments and contracts. Assess the social and ethical implication of financial decisions.
Intellectual /Cognitive Skills
To be capable to synthetize and integrate knowledge, to evaluate proposals to raise and deploy capital, formulate policy of disbursing cash, and structure stakeholder incentives with the goal of creating value in corporate setting. Be able to understand and critically evaluate scientific articles and official reports in the respective area.
Effectively communicate and justify in both written and oral form the results and recommendations of financial analysis to audience having a variety of financial sophistication.
Able to identify the need to acquire further knowledge and is capable use analytically academic papers and business cases to come to scientific conclusions and recommendations.
Assessment: The assessment policy of the University is based on the participant learning principle, where learning and assessments are conducted through a combination of case studies and coursework which assess the application of knowledge, with less focus on formal examination. Some of the courses are based on 100% coursework/home assignments.
Program Structure 3+2: Two-year, English and Macedonian taught program. One part of the program provides theoretical background where mainstream theories in the respective domain are presented. Another part is practical, aimed at firm’ policy making, whereby empirical applications are presented, replicated and discussed. This can be prominent research articles, models and case studies. The third part focuses on analytical tools and heavily relies on software applications where tools like optimization, regression and correlation analysis, etc.
First Year: The first year of the course provides students with important theoretical knowledge that will help them understand financial tenets and their interrelationships and appropriate applications.
Second Year: The second year is concentrated towards practical financial knowledge, technical skills, critical thinking and analytical problem solving skills. Students will become able to grasp facts and concepts and apply them to solve problems, draw conclusions and recognize consequences.
* Only for students who completed their undergraduate studies at the University American College Skopje, and are willing to obtain specialization degree.
Program structure 4+1: One-year, English and Macedonian taught program for students who have earned 240 ECTS Bachelor Degree
One part of the program provides theoretical background where mainstream theories in the respective domain are presented. Another part is practical, aimed at firm’ policy making, whereby empirical applications are presented, replicated and discussed. This can be prominent research articles, models and case studies. The third part focuses on analytical tools and heavily relies on software applications where tools like optimization, regression and correlation analysis, etc.
• Business Communication
• Organizational Behavior
• Research Methods for Business
• Managerial Accounting
• International Finance
• Portfolio Analysis and Management
• Financial Reporting and Financial Statement Analysis
• Bank Risk Management and Stress Testing
• Master Thesis