MSc in Advanced Economics and Finance (cand.oecon)
Content and Structure
- The MSc in Advanced Economics and Finance accommodates the need for economists with strong quantitative competencies. The program is a thorough preparation for a variety of careers. Graduates are working in the financial sector, consulting firms or joined a PhD program in economics or finance.
- The program offers you the opportunity to develop your understanding of finance, economics, and quantitative methods at a very high level
- While the first year of the program is balanced between finance and economic courses, you can choose to specialize in further areas of economics and/or finance in your second year
- You are taught to apply and use various well-known models and methods, but also to understand their technical foundations. This deep understanding of economics and finance allows you to adapt the models to new market conditions
Corporate finance, financial markets and corporate governance
In the study of corporate finance, you will investigate the incentives that are fundamental to understanding the different forms of capital structure and payout policies. In addition, this programme discusses the arguments underlying different forms of financing and management compensation.
You will be introduced to advanced topics within the area of financial markets. Areas to be covered include, but are not limited to, an individual’s choice of consumption and portfolio selection, and comprehensive pricing models. These models will be further developed into dynamic multi-period models, which are used in the most quantitative financial institutions.
The ability to create mathematical pricing models will be essential as you progress into more advanced topics, for example, derivatives and credit risk.
You will also learn how to deal with and/or prevent principal-agent problems, such as conflicts in owner-manager relations and the use of appropriate incentive schemes. Through game theory, advanced multi-period and multiple-agent models, you will develop a quantitative approach to solving problems of corporate policy. For instance, when writing contracts, you will deal with asymmetric information, incentive schemes and/or risk sharing in order to ascertain how these agency issues relate to particular governance systems in a corporation.
Economics and econometrics
You will analyze the behavior of economic agents, how they interact in markets and how they are regulated.
Moreover, this programme focuses on the study of macroeconomics, where, for instance, you will be able to explain and derive models of economic growth and business cycles. You will also be able to analyze the impact of fiscal and monetary policies as well as the role of government regulation and institutions.
Using econometric methods, you will be able to test theoretical predictions using economic and financial data. You will learn to select the appropriate data, models, and how to evaluate different econometric models.
This programme is designed for students who have demonstrated particular skills and interests in analytical and quantitative economics and finance.
Students will learn to work independently with economic and financial problems and, thus, obtain qualifications to work as a key analyst in financial institutions and consultancies as well as the business community in general, wherever strong quantitative financial and economic skills are needed.
The program is highly selective and only enrolls a limited number of students per year. Hence, a higher degree of attention will be given to each student. By studying research papers, learning to conduct your own research, and having high-level interactions with professors and fellow students, you will experience a high workload, steep learning curve, high learning output, and elevated expectations concerning your own participation. As some of the courses are mandatory for students in the CBS PhD programmes in Economics and Finance, the presence of PhD students adds further value to this unique learning environment.
Advanced Economics and Finance is a two-year Master’s programme that is divided into 4 semesters. The fall semester runs from September through November with exams in December and January; and the spring semester from February through April with exams in May and June. There are eight mandatory courses in the first year, and four elective courses followed by a Master’s thesis comprising the second year.
There is a high degree of progression between the first and second semester, and you are required to take at least two elective progression courses in the third semester.
|1. Semester||2. Semester||3. Semester||4. Semester|
|Contract, Agency, and Game Theory (7.5 ECTS)||Advanced Industrial Organization (7.5 ECTS)||2 Progression Electives + 2 Electives (30 ECTS)||Master thesis
or Business Project + Short Master thesis (30 ECTS)
|Asset Pricing (7.5 ECTS)||Derivatives and Risk Management (7.5 ECTS)|
|Corporate Finance (7.5 ECTS)||Financial Econometrics (7.5 ECTS)|
|Econometrics (7.5 ECTS)||Macroeconomics - The Global Economy (7.5 ECTS)|
You can find a more detailed description of the courses by following the links in the study regulations of the programme.