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Outline

• A career in Finance
• The BGSE Master in Finance
• Courses
• The Master Project
• Seminars
• Being a graduate student at the Master in Finance
A career in Finance:

• Important sector of the economy


• Ever-evolving industry due to financial innovation,
changes in regulation
• Increasing demand of graduates with analytical skills,
technical training, capable of adapting to changes in
the environment
• Large variety of career paths:
• Commercial Banking
• Corporate Finance
• Asset Management
• Risk Management
• Insurance
• Academic
The BGSE Master in Finance v. other programs

• Deep understanding of theory/methods v. “formulas”


• Limitations of the theory/methods
• Extensions of theories/methods
• General solutions v. solutions to specific problems
• Technical challenges v. routine work
• Long-term edge v. inmediate satisfaction
ASSET MANAGEMENT / TRADING / VC / PE
Fall Term
Course Title ECTS Professor(s)
Mandatory
Stochastic Processes 6 Omiros Papaspiliopoulos
Asset Pricing 6 Javier Gil-Bazo

Elective (Choose 1) - Director's approval required.


Econometrics 6 Javier Gómez Biscarri
José García-Montalvo
Statistics and Econometrics 9 Vasco Carvalho

Winter Term
Course Title ECTS Professor(s)
Mandatory
Corporate Finance Theory 6 Albert Banal
Financial Econometrics 6 Christian Brownlees
Elective (Choose 1)
Continuous-Time Finance 6 Eulàlia Nualart
Financial Institutions Management 6 José-Luis Peydró
Course Title ECTS Professor(s)
Mandatory
Master Project 6  Javier Gil-Bazo
Financial Institutions Seminars - TBA; view past speakers
Electives - Select 18 ECTS (15 ECTS for students enrolled in Statistics and Econometrics in
the Fall Term)
Xavier Freixas
Banking Theory 6 José-Luis Peydró
Systemic Risk and Financial Crisis 3 José-Luis Peydró
Applied Corporate Finance 3 Filippo Ippolito
Investments 3  Angel León
Topics in Asset Pricing 3 Gonzalo Rubio
Ariadna Dumitrescu
Trading and Financial Markets 3 Christian Brownlees
Risk Management 3 Manuel Moreno
Financial Risk Forecasting 3 Jon Danielsson
Numerical Methods in Options Pricing 3 Sebastian del Baño
Derivatives with Stochastic Volatility 3 Elisa Alòs
RISK MANAGEMENT
Fall Term
Course Title ECTS Professor(s)
Mandatory
Stochastic Processes 6 Omiros Papaspiliopoulos
Asset Pricing 6 Javier Gil-Bazo

Elective (Choose 1) - Director's approval required.


Econometrics 6 Javier Gómez Biscarri
José García-Montalvo
Statistics and Econometrics 9 Vasco Carvalho

Winter Term
Course Title ECTS Professor(s)
Mandatory
Corporate Finance Theory 6 Albert Banal
Financial Econometrics 6 Christian Brownlees
Elective (Choose 1)
Continuous-Time Finance 6 Eulàlia Nualart
Financial Institutions Management 6 José-Luis Peydró
Course Title ECTS Professor(s)
Mandatory
Master Project 6  Javier Gil-Bazo
Financial Institutions Seminars - TBA; view past speakers
Electives - Select 18 ECTS (15 ECTS for students enrolled in Statistics and Econometrics in
the Fall Term)
Xavier Freixas
Banking Theory 6 José-Luis Peydró
Systemic Risk and Financial Crisis 3 José-Luis Peydró
Applied Corporate Finance 3 Filippo Ippolito
Investments 3  Angel León
Topics in Asset Pricing 3 Gonzalo Rubio
Ariadna Dumitrescu
Trading and Financial Markets 3 Christian Brownlees
Risk Management 3 Manuel Moreno
Financial Risk Forecasting 3 Jon Danielsson
Numerical Methods in Options Pricing 3 Sebastian del Baño
Derivatives with Stochastic Volatility 3 Elisa Alòs
CORPORATE FINANCE
Fall Term
Course Title ECTS Professor(s)
Mandatory
Stochastic Processes 6 Omiros Papaspiliopoulos
Asset Pricing 6 Javier Gil-Bazo

Elective (Choose 1) - Director's approval required.


Econometrics 6 Javier Gómez Biscarri
José García-Montalvo
Statistics and Econometrics 9 Vasco Carvalho

Winter Term
Course Title ECTS Professor(s)
Mandatory
Corporate Finance Theory 6 Albert Banal
Financial Econometrics 6 Christian Brownlees
Elective (Choose 1)
Continuous-Time Finance 6 Eulàlia Nualart
Financial Institutions Management 6 José-Luis Peydró
Course Title ECTS Professor(s)
Mandatory
Master Project 6  Javier Gil-Bazo
Financial Institutions Seminars - TBA; view past speakers
Electives - Select 18 ECTS (15 ECTS for students enrolled in Statistics and Econometrics in
the Fall Term)
Xavier Freixas
Banking Theory 6 José-Luis Peydró
Systemic Risk and Financial Crisis 3 José-Luis Peydró
Applied Corporate Finance 3 Filippo Ippolito
Investments 3  Angel León
Topics in Asset Pricing 3 Gonzalo Rubio
Ariadna Dumitrescu
Trading and Financial Markets 3 Christian Brownlees
Risk Management 3 Manuel Moreno
Financial Risk Forecasting 3 Jon Danielsson
Numerical Methods in Options Pricing 3 Sebastian del Baño
Derivatives with Stochastic Volatility 3 Elisa Alòs
BANKING
Fall Term
Course Title ECTS Professor(s)
Mandatory
Stochastic Processes 6 Omiros Papaspiliopoulos
Asset Pricing 6 Javier Gil-Bazo

Elective (Choose 1) - Director's approval required.


Econometrics 6 Javier Gómez Biscarri
José García-Montalvo
Statistics and Econometrics 9 Vasco Carvalho

Winter Term
Course Title ECTS Professor(s)
Mandatory
Corporate Finance Theory 6 Albert Banal
Financial Econometrics 6 Christian Brownlees
Elective (Choose 1)
Continuous-Time Finance 6 Eulàlia Nualart
Financial Institutions Management 6 José-Luis Peydró
Course Title ECTS Professor(s)
Mandatory
Master Project 6  Javier Gil-Bazo
Financial Institutions Seminars - TBA; view past speakers
Electives - Select 18 ECTS (15 ECTS for students enrolled in Statistics and Econometrics in
the Fall Term)
Xavier Freixas
Banking Theory 6 José-Luis Peydró
Systemic Risk and Financial Crisis 3 José-Luis Peydró
Applied Corporate Finance 3 Filippo Ippolito
Investments 3  Angel León
Topics in Asset Pricing 3 Gonzalo Rubio
Ariadna Dumitrescu
Trading and Financial Markets 3 Christian Brownlees
Risk Management 3 Manuel Moreno
Financial Risk Forecasting 3 Jon Danielsson
Numerical Methods in Options Pricing 3 Sebastian del Baño
Derivatives with Stochastic Volatility 3 Elisa Alòs
MASTER PROJECT

GOAL: to evaluate students' success in acquiring new competencies, their


ability to critically evaluate previously published research using the
acquired knowledge, and their creativity and skillfulness in addressing
research questions in Finance

More specifically, the ability:


• to develop hypotheses,
• to carefully design empirical tests of the hypotheses, and
• whenever data availability makes it possible, to implement such
tests and interpret the results
• Master projects will be evaluated according to the extent to
which they demonstrate the aforementioned competencies.

Standards of academic writing in terms of rigor, technical correction,


clarity, accuracy, honest attribution of ideas and thoughts (that is, clear
distinction between someone else's thinking and that of the authors, total
avoidance of plagiarism), full justification of claims, and avoidance of
irrelevant contents.
MASTER PROJECT

• All professors participating in the Master will be asked to suggest


possible research topics.
• Students will work in groups of three to four people.
• Students will choose a topic from the list and will receive initial
guidance from supervisor.
• Students will be expected to deal by themselves with the specific
problems and technical difficulties that arise in the course of their
work
• The Master project will necessarily follow a given structure (see
guidelines)
• Presentations will take place during the official examination period of
the third quarter.
• The evaluation committee will consist of a panel of 2-3 people,
chaired by the Program Director.
• Grades will be decided after the presentation.
• Databases, programming code, and other materials provided by the
tutor to students will by no means be used for other purposes
without the tutor's explicit authorization.
SEMINARS

• Experienced practitioners from different areas

• Highly specialized, technical training

• Broad range: risk managers, entrepreneurs, mutual fund


managers, hedge fund managers, bankers, central
bankers

• GREAT OPPORTUNITY to get to learn about what the


market demands and career opportunities

• Continuation of the series contingent on


participation
Being a graduate student at the Master in Finance

• Full-time job

• See yourself as a professional, not a student:


• Take responsibilities
• Face challenges (no risk, no reward )
• Think long-term (i.e., beyond the exam)
• Be proactive
• Respect, integrity, honesty are expected

• Don’t forget this is now YOUR program


javier.gil-bazo@upf.edu

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