In modern finance and capital markets around the world derivatives play an important role through their diverse functions: hedging of market risks, arbitrage, and speculation. Especially when thinking of last financial crisis, it is worth knowing how derivatives work. This course covers evaluation of different derivative types (futures, forwards, and options) and their use in managing financial risks.
APPLIED ECONOMETRICS (ECTS 3)
An overview of the most important statistical tests such as Numerical generation of statistical distributions, Linear regression models (the assumptions of the classical model), Maximum likelihood method, Predictions, Durbin-Watson statistic, Singular Value Decomposition, Multiple regression models, Multiple determination coefficients. The main goal of this course is developing students’ analytical thinking by identifying statistical significance in a specific modeling framework for economic variables, and forecasting their future behavior using econometric methods and new technologies.
PORTFOLIO MANAGEMENT AND INVESTMENTS (ECTS 6)
The course consists of two parts: in the first part students will acquire basic knowledge of the principles of investing, they will analyze the types and characteristics of securities available for investment, and financial markets in which are they traded and investment environment. It will also be considered the valuation of financial instruments and their selection criteria for the investment portfolios of individuals and businesses. The course covers the modern theory of investment as well as traditional approaches to selecting and managing investments.
Financial Reporting and Analysis
Quantitative Methods and Econometrics
Stochastic Processes in Financial Marketing
Business Ethics and Corporate Social Responsibility
FINANCIAL REPORTING AND ANALYSIS (ECTS 6)
The aim of the course is to analyze the application of the International Financial Reporting Standards (IFRSs) through selected case studies. Students will be presented the regulatory framework for financial reporting in the EU and Croatia based on regulations and international standards. The content and structure of the IFRS will be historically reviewed. Special attention will be given to the formulation of the accounting policy in the areas of recognition and measurement of accounting categories as well as of publishing in the accounting reports pursuant to the IFRS.
FINANCIAL STATEMENT AUDIT (ECTS 6)
Auditing course is designed to provide the student with all aspects of auditing profession and modern trends in auditing in the world, in the European Union and in the Republic of Croatia. This course will provide students with knowledge in the field of internal and external auditing, and the application of International Standards on Auditing and the code of professional ethics for auditors. The students will learn about the audit process, including the final completion of audit and the formulation of audit report. This course provides the student with the knowledge on the role of auditors, the importance of audit committees and internal control. The students will learn about the current challenges in auditing profession (in the world and in the Republic of Croatia), and about the future trends in the world that are affecting financial reporting and auditing.
FINANCIAL MANAGEMENT (ECTS 6)
The course is divided into several basic units of crucial importance to financial management such as: basic theoretical concepts of modern finance, valuation and return on investment in securities, portfolio risk securities, valuation of debt and equity options, the theory of capital structure, and analysis of value creation within the company (NPV, IRR, PBP, WACC, EPS …) etc. In modern financial theory this course is dealing with modern analysis of corporate securities in the primary and secondary capital markets and financial strategies.
BUSINESS ETHICS AND CORPORATE SOCIAL RESPONSIBILITY (ECTS 6)
Business ethics is not a clear and unambiguous area; it is exposed to numerous interpretations within the context of “what is the right thing to do”. The course comprises discussions on interrelations between economic, legal, political, social, cultural and ethical issues in the definition of the business policy, managerial decision making at the stage of the business policy implementation, and, finally, as an integral part of business activities. Although CSR is a relatively new term, its roots go back a long time and can be traced to a variety of philosophical, ethical, and environmental discourses. Thus there are a number of different approaches to CSR as well as a number of different definitions of what exactly CSR comprises. Furthermore the concept has been extended to apply not just to corporations but to many other (not necessarily profit seeking) forms of organisation. The concept of CSR is therefore complex. It is the purpose of this course to introduce students to this complexity and to the various components which might comprise socially responsible behaviour. In doing so it is intended to provide a framework both for further study and for planning and evaluating the actions and performance of an organisation in the context of sustainable and socially responsible activity. Particularly: (1) Developing sensitivity to immoral and irresponsible acts in business world. (2) Encouraging proactive behavior in favor of ethical standards. (3) Developing know-how of incorporating ethical standards in business procedures and detecting irresponsible acts in companies.
Professors at ZSEM are great since they resort to several innovative teaching methods, and most of the times I was able to learn from their personal experiences on the market. All of these made me feel very interested in the courses I was taking at the time and made me want to go for further knowledge. Read more...
I like best that it's a small school and also the teaching style - during lectures and seminars we work on real case studies. There's not too much theory and everything is very practice oriented, which is very different from my university back home. Read more...
The Graduate University Program in Financial and Business Mathematics is the final part of the fundamental University education of specialists in financial and business mathematics. Acquired knowledge and skills opened up opportunities in a field of Finance (later and Business), where I started to work from the beginning. In order to acquire further knowledge and skills related to business and economy, on the recommendation of experts, I developed an interest to take the MBA Program in Quantitative Finance at Zagreb School of Economics and Management (ZSEM). My education continued with courses in Financial Management and Statement Analysis, along with Selected Chapters of Financial Mathematics, and very important Quantitative Methods for Managers and Applied Econometrics- through which I received an overview of important statistical tests. Each lecture covered a specific practical problem from the world of finance, which in my opinion, is the best part of learning and preparing for the “real world”. Choosing this MBA program I consider as the best investment both in professional and in private life. I want to thank to all Professors in Program of Quantitative Finance whose expertise and knowledge have enriched my professional and personal growth and development. During this period I gained valuable perspective and further improve the hard work and numerous obligations and deadlines that were natural environment. I want to recommend Program in Quantitative Finance, mostly because that combination of mathematics and economics, which together provide a wide range of possibilities, is certainly among the most respected fields in a business world. The past five years I spent in the one of the largest European Banking Groups – Intesa Sanpaolo. I get the opportunity to work and live in international environment in Intesa’s headcourter in Milan, Italy- International Subsidiary Banks Division. Read more...
From the beginning I had very high expectations about the MBA program at ZSEM, including both the subject courses and the professors. The thing that I liked the most was the way of teaching, especially from the international professors who encourage each lecture to have discussions and where students are encouraged to give their opinions. I also liked that the professors gave real life examples in class. Another thing that I liked about the program is that in both semesters, there were many international students so I had the opportunity to make friends from all over the world. Read more...
Among top 5% of best business schools in the world
ZSEM among 200 of best schools in the world, among 60 of best in Europe