Curriculum for the Master of Science (MSc) in Economics and Business Administration (Finance), 2020

1: Preface

Pursuant to consolidation Act 778 of August 7, 2019 on Universities (the University Act), the following is established.

The programme also follows the Examination Policies and Procedures for Aalborg University.

2: Basis in Ministerial Orders

The Master’s programme is organised in accordance with the Ministry of Higher Education and Science’s Order no. 1328 of November 15, 2016 on Bachelor’s and Master’s Programmes at Universities (the Ministerial Order of the Study Programmes) with subsequent changes and Ministerial Order no. 1062 of June 30, 2016 on University Examinations (the Examination Order) with subsequent changes. Further reference is made to Ministerial Order no. 106 of February 12, 2018 (the Admission Order) and Ministerial Order no. 114 of February 3, 2015 (the Grading Scale Order).

3: Campus

The programme is offered in Aalborg.

4: Faculty affiliation

The Master’s programme falls under The Faculty of Social Sciences, Aalborg University.

5: Study board affiliation

The Master’s programme falls under Study Board of Business Economics.

6: Affiliation to corps of external examiners

The Master’s programme is associated with the external examiners corps on Business Economics.

7: Admission requirements

Applicants with a legal right of admission (retskrav):

  • Bachelor (BSc) in Economics and Business Administration from Aalborg University.

Applicants without legal right of admission:

  • Bachelor (BSc) in Economics and Business Administration from Copenhagen Business School (CBS).
  • Bachelor (BSc) in Economics and Business Administration from Roskilde Universitet (RUC).
  • Bachelor (BSc) in Economics and Business Administration from Syddansk Universitet (SDU).
  • Bachelor (BSc) in Economics and Business Administration from Aarhus Universitet (AU).

Applicants are being evaluated and prioritized individually based on their concrete and unique situation.

8: The programme title in Danish and English

The Master’s programme entitles the graduate to the Danish designation Kandidatuddannelsen i erhvervsøkonomi, cand.merc. (finansiering). The English designation is: Master of Science (MSc) in Economics and Business Administration (Finance).

9: Programme specifications in ECTS credits

The Master’s programme is a two-year, research-based, full-time study programme. The programme is set to 120 ECTS credits.

10: Rules concerning credit transfer (merit), including the possibility for choice of modules that are part of another programme at a university in Denmark or abroad

The Study Board can approve that passed programme elements from other educational programmes at the same level replaces programme elements within this programme (credit transfer).

Furthermore, the Study Board can, upon application, approve that parts of this programme is completed at another university or a further education institution in Denmark or abroad (pre-approval of credit transfer).

The Study Board’s decisions regarding credit transfer are based on an academic assessment.

11: Exemptions

The Study Board’s possibilities to grant exemption, including exemption to further examination attempts and special examination conditions, are stated in the Examination Policies and Procedures published at this website: https://www.studieservice.aau.dk/Studielegalitet/

12: Rules for examinations

The rules for examinations are stated in the Examination Policies and Procedures published at this website: https://www.studieservice.aau.dk/Studielegalitet/

13: Rules concerning written work, including the Master’s Thesis

In the assessment of all written work, regardless of the language it is written in, weight is also given to the student's formulation and spelling ability, in addition to the academic content. Orthographic and grammatical correctness as well as stylistic proficiency are taken as a basis for the evaluation of language performance. Language performance must always be included as an independent dimension of the total evaluation. However, no examination can be assessed as ‘Pass’ on the basis of good language performance alone; similarly, an examination normally cannot be assessed as ‘Fail’ on the basis of poor language performance alone.

The Study Board can grant exemption from this in special cases (e.g., dyslexia or a native language other than Danish).

The Master’s Thesis must include an English summary. If the project is written in English, the summary can be in Danish. The summary is included in the evaluation of the project as a whole.

14: Requirements regarding the reading of texts in a foreign language

It is assumed that the student can read academic texts in English and use reference works, etc., in English and other European languages.

15: Competence profile on the diploma

The following competence profile will appear on the diploma:

A Candidatus graduate has the following competency profile:

A Candidatus graduate has competencies that have been acquired via a course of study that has taken place in a research environment.

A Candidatus graduate is qualified for employment on the labour market based on his or her academic discipline as well as for further research (PhD programmes). A Candidatus graduate has, compared to a Bachelor, developed his or her academic knowledge and independence so as to be able to apply scientific theory and method on an independent basis within both an academic and a professional context.

16: Competence profile of the programme

The purpuse of the Master of Science (MSc) in Economics and Business Administration (Finance) is that the candidate has the following comptence profile after graduation:

Knowledge:

  • Must possess knowledge of finance which is based on the state-of-the-art international research within the subject area.
  • Must be able to understand and scientifically reflect on the knowledge of the subject area as well as be able to identify scientific issues.

Skills:

  • Must master the scientific methodologies and tools of the subject area as well as master general skills related to work within finance.
  • Must be able to evaluate and select among the scientific theories, methodologies, tools and general skills of the subject area, and scientifically set up new analysis and solution models.
  • Must be able to communicate research-based knowledge and discuss professional and scientific issues with both peers and non-specialists.

Competencies:

  • Must be able to manage work situations and developments that are complex, unpredictable and require new solution models.
  • Must be able to independently initiate and carry out discipline-specific and interdisciplinary collaboration and assume professional responsibility.
  • Must be able to independently take responsibility for their own professional development and specialisation.

 

The employer can expect that the candidate will be able to:

  • independently organise and conduct analyses of key issues within finance and translate this knowledge into solutions.
  • compare complex theoretical and practical issues within finance and argue for the pros and cons associated with different solution suggestions.
  • lead and in constructive ways support that group processes function in professional ways that add value to the core of the business.
  • activily contribute to professional and interdisciplinary team processes in relation to finance.
  • independently, and in cooperation with others, apply finance theoretical knowledge to concrete solutions.
  • assume a professional responsibility to lead people and processes within finance from idea phase to implementation.
  • provide strategic and operational sparring in relation to finance of commercial importance.
  • translate abstract finance theoretical and professional practical knowledge and insights into understandable communication for different audiences.

At the Master of Science (MSc) in Economics and Business Administration (Finance) there is great emphasis on the student's development and learning. These expectations are expressed in the knowledge, skills and competencies the student acquires throughout the programme and in the respective modules.

The program is anchored in a problem-based approach to learning (PBL), where the student’s abilities in identifying, analysing and presenting solutions to actual and concrete business challenges is supported thorugh independent and team-based activities both in courses and project work.

Hence, PBL is an integrated aspect of both projects and course activities, such as lectures, case work, exercises and business cooperation.

The programme values highly interdisciplinary work, teamwork, individual learning, and progression of PBL competencies. A supportive learning environment ensures that the student, alone and in teams, gradually strengthens his or her ability to build and bring together practical and theoretically anchored competences in reflexive ways.

Furthermore, the student manages to argue and transform these competences into concrete solutions.

The programme supports PBL progression by empowering the student’s problem-oriented, interpersonal, structural and reflective skills. The student achieves this by testing and gaining experience with various issues, cooperative relationships, project forms and reflection processes.

The aim is to make sure that the student's curiosity, motivation and interest in the business economics core disciplines within the Master of Science (MSc) in Economics and Business Administration (Finance) have optimum possibilities to be succesful.

17: Structure and Contents of the programme

The Master of Science (MSc) in Economics and Business Administration (Finance) provides knowledge, skills, and competencies within financial theory and methods that enable the student to act on and manage potential financial risks, valuate potential external companies for acquisition, and implement and estimate models for use in asset pricing and portfolio management. Insight into and a thorough understanding of financial theory and methods are important for pricing, valuation, and risk decisions but also important as a realm of understanding that the student can draw on later in the career.

During the MSc in Finance, the student will develop team skills based on course work and student projects. The purpose is to support the candidate in establishing the basis for making informed decisions about difficult and complex financial decisions in (international) companies, financial institutions and consulting businesses. Therefore, financial theories and methods are introduced in a learning environment characterized by real world cases, in-class discussions, and projects based on identified problems in companies and institutions.

The program is offered in English.

The program is based on a combination of professional, problem-oriented and multidisciplinary approaches. It is organised on the following forms of work and evaluation, which combine skills and academic reflection:

  • lectures
  • class teaching
  • project work
  • workshops
  • problem solving (individually and in groups)
  • teacher feedback
  • peer review
  • digitally supported learning
  • academic reflection
  • portfolio work

The student must at least accumulate 90 ECTS in the chosen MSc Economics and Business Administration programme. The student has the option to choose elective courses for maximum 30 ECTS. The elective courses may be followed in the first, second and/or third semesters.

If, during the third semester, the student wishes to travel abroad to attend a specialisation course or another 30 ECTS course, which has been pre-approved by the Study Board of Economics and Business Administration, the student must follow the elective courses offered within the chosen MSc Economics and Business Administration programme in the first and second semester.

18: Overview of the programme

Offered as: 1-professional
Specialisation: Finance
Module name Course type ECTS Applied grading scale Evaluation method Assessment method
1 Semester
Principles of Finance Course 10 7-point grading scaleInternal examinationWritten exam
Quantitative Methods in Finance Project 10 7-point grading scaleInternal examinationOral exam based on a project
Electives 1st and 3rd semester 10
2 Semester
Advanced Corporate Finance Project 10 7-point grading scaleExternal examinationOral exam based on a project
Financial Derivatives Course 5 Passed/Not PassedInternal examinationWritten or oral exam
Empirical Finance Course 5 7-point grading scaleInternal examinationWritten or oral exam
Electives 2nd semester 10
3 Semester
1st version
Business Cooporation Project 15 7-point grading scaleInternal examinationOral exam based on a project
Risk Management Course 5 7-point grading scaleInternal examinationWritten exam
Scientific Challenges in Finance Project 10 7-point grading scaleInternal examinationOral exam based on a project
3 Semester
2nd version
Business Cooporation Project 15 7-point grading scaleInternal examinationOral exam based on a project
Risk Management Course 5 7-point grading scaleInternal examinationWritten exam
Electives 1st and 3rd semester 10
3 Semester
3rd version
New Venture Creation/Corporate Entrepreneurship Project 30 7-point grading scaleInternal examinationOral exam based on a project
3 Semester
4th version
Commodity Economics Project 30 7-point grading scaleInternal examinationOral exam based on a project
3 Semester
5th version (innovation and societal challenges)
Contemporary Issues in Innovation and Entrepreneurship Course 5 7-point grading scaleInternal examinationWritten or oral exam
Innovation and Societal Challenges Project 15 7-point grading scaleInternal examinationOral exam based on a project
Advanced Innovation Management Course 10 7-point grading scaleInternal examinationWritten or oral exam
3 Semester
6th version (1st semester on international business)
International Business Theory: Trade, Investment and the MNE Project
International Entrepreneurship Project 10 7-point grading scaleInternal examinationOral exam based on a project
International Strategic Management Project
International Management Functions Project 10 7-point grading scaleInternal examinationOral exam based on a project
Electives 1st and 3rd semester 10
3 Semester
7th version (1st semester on marketing)
Customer Value, Marketing Strategy, and Sales Management Course
Foundations of Customer Buying Behavior Course
Foundations of Marketing, Value Creation and Sales Management Project 20 7-point grading scaleExternal examinationOral exam based on a project
Electives 1st and 3rd semester 10
3 Semester
8th version (social data science)
M1: Applied Data Science and Machine Learning Course 5 7-point grading scaleInternal examinationOral exam
M2: Network Analysis and Natural Language Processing Course 5 7-point grading scaleInternal examinationOral exam
M3: Deep Learning and Artificial Intelligence for Analytics Course 5 7-point grading scaleInternal examinationOral exam
M4: Applied Social Data Science Capstone Project Project 15 7-point grading scaleExternal examinationOral exam based on a project
4 Semester
Master's Thesis Project 30 7-point grading scaleExternal examinationMaster's thesis/final project

In addition to the above options, the student will in the third semester have the option to choose “specialisation modules within the academic key areas”. This choice gives the student an opportunity to expand his/her knowledge, abilities and skills within the field of economics and business administration by following the first semester of one of the other MSC in Economics and Business Administration programmes offered by Aalborg University.

Alternatively, the student may attend a semester at a Danish or foreign university. The “specialisation modules” must be pre-approved by the Study Board of Economics and Business Administration and evaluated as specified in the host’s curriculum. The Social Data Science (SDS) semester in the curriculum for the Master's Programme in Economics at Aalborg University is by default preapproved the by The Study Board.

This choice is an opportunity for students who have followed the elective modules offered within their chosen MSc in Economics and Business Administration programmes in the first and second semester. For the Master of Science (MSc) in Economics and Business Administration (Finance) these electives are: "Portfolio theory and financial applications" and "International finance" at the first semester and "Mergers and acquisitions" and "Topics in asset management " at the second semester.

 
Electives 1st and 3rd semester
Module name Course type ECTS Applied grading scale Evaluation Method Assessment method
Portfolio Theory and Financial Applications Course 5 Passed/Not Passed Internal examination Written or oral exam
International Finance Course 5 Passed/Not Passed Internal examination Written or oral exam
Sustainability in Organisations Course 5 7-point grading scale Internal examination Written and oral exam
Business Design Course 5 7-point grading scale Internal examination Written or oral exam
Strategic Brand Management Course 5 7-point grading scale Internal examination Written or oral exam
Customer Experience Management and Value Co-creation Course 5 7-point grading scale Internal examination Written or oral exam
Financial Accounting Course 5 7-point grading scale Internal examination Written or oral exam
Accounting Information Systems Course 5 7-point grading scale Internal examination Written or oral exam
Internationalisation of Diverse Organisational Forms Course 5 7-point grading scale Internal examination Written exam
MNCs and Ecosystems: Innovation and Value Co-creation for Sustainable Development Course 5 Passed/Not Passed Internal examination Written or oral exam
Advanced Innovation Management Course 10 7-point grading scale Internal examination Written or oral exam

 
Electives 2nd semester
Module name Course type ECTS Applied grading scale Evaluation Method Assessment method
Mergers and Acquisitions Course 5 7-point grading scale Internal examination Written and oral exam
Topics in Asset Management Course 5 Passed/Not Passed Internal examination Written or oral exam
Strategic Management Course 5 7-point grading scale Internal examination Written and oral exam
Technology Literacy and Digitalisation in Organisations Course 5 7-point grading scale Internal examination Written or oral exam
Sales Enablement Course 5 Passed/Not Passed Internal examination Oral exam
Contemporary Issues in Marketing Course 5 7-point grading scale Internal examination Written or oral exam
Performance Measurement and Rewarding Course 5 7-point grading scale Internal examination Written or oral exam
Internationalisation in Emerging Product and Geographic Markets Course 5 7-point grading scale Internal examination Written exam
Global Environmental Dynamics and Firm Responses Course 5 7-point grading scale Internal examination Written or oral exam
Promoting Innovation and Entrepreneurship Course 10 7-point grading scale Internal examination Written or oral exam

Prior to each registration period, the Study Board informs the students about which electives from the curriculum that will be offered in the coming semester.

The Study Board reserve the right not to provide elective subjects if the number of students signed up do not meet the minimum requirements. If an elective course is not provided, the students will be offered other options.   

19: Additional information

For further information please visit the programmes website: (følger senere, da uddannelsen er helt ny).

Regulations regarding written products are to be found here:

Regulations regarding the master thesis are to be found here: https://www.studieservice.aau.dk/studielegalitet

20: Commencement and transitional rules

The curriculum is approved by the Dean and enters into force as of 1 September 2020.

21: Amendments to the curriculum and regulations