Finance

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The Koç Master of Science in Finance program, with its dedicated faculty, innovative curriculum, strong links with the business world, international position, and supporting facilities, is a valuable investment for managers and their companies.

CFA institute is the largest global membership association of investment professionals, with over 100,000 members in more than 130 countries. The institute administers CFA (Chartered Financial Analyst) and CIPM (Certificate in Investment Performance Measurement) curriculum and exam programs worldwide and partners with a limited number of select institutions that cover a significant portion of the CFA Program curriculum in their degree programs. The partner universities are recognized as leaders and serve as role models to other institutions. Koç University is the first partner program in Turkey and one of 40 CFA Program partners in Europe and provides scholarships to its selected students for the CFA exams.

CoursesFinancial Statements & Reporting

Generally accepted accounting principles, concepts, standards, and practices used in recording business transactions in order to prepare major financial statements such as the balance sheet, income statement, and cash flow statement. Overview of financial statements, financial reporting and financial analysis techniques (horizontal, vertical and ratio analysis), analyzing financing, investing and operating activities, cash flow analysis, return on invested capital, profitability, credit and risk analysis.

Financial Econometrics I

Statistical and Econometric tools used in financial research and decision making. Probability theory, random variables, mathematical expectations, distributions of random variables, distributions used in financial research, sampling, sampling distributions, hypothesis testing, estimation theory, and simple linear and multiple linear regression models. Emphasis on application of statistical and econometric techniques to problems in financial economics.

Corporate Finance

Introduction to the fundamental financial issues of the corporation. Basic concepts of debt and equity sources of financing and valuation; capital budgeting methods; cash flow forecasting and risk analysis; and the cost of capital. Rigorous analysis of firm's capital structure and dividend policies, overview of the real-world considerations, constraints and risks facing managers.

Investment Management

Quantitative tools and the conceptual knowledge to analyze investments. Investments in this course is strictly monetary stakes in financial securities, not real assets or projects. How to best combine various financial instruments to fit the risk/return profile. Trade-off between risk and return, and market efficiency. Financial decision making process of an investor to maximize his wealth and/or minimize his risk. Theoretical models to value financial instruments such as stocks and bonds, how to allocate assets efficiently, how to measure and manage risk.

Ethics in Finance

Widely accepted Code of Ethics and Standards of Professional Conduct developed by the CFA Institute. Case studies including well-known finance scandals that markets have been witnessing for decades. Ethical responsibilities of investment professionals and application of ethical codes and standards. Seminar Series About Financial Institutions Asset and liability management with a focus on the financial institutions balance sheets. Analysis of financial risks in the context of financial crisis. The risks on the balance sheets and how to hedge these risks if they are worth hedging. Effects of political and economic developments on financial markets. Behavior of central banks and their importance. Elective Courses

Advanced Corporate Finance

An intensive analysis of the effects of various corporate financial policy decisions on the value of the firm; effects of taxes, bankruptcy costs and agency costs on corporate financial decisions; the interrelation of financing policy with executive compensation, mergers and acquisitions, leasing, hedging and payout policies. Governance of Financial Markets and Institutions The theory of financial intermediation and the structure of financial markets; interest rates and security valuation; central banking system and monetary policy; securities markets including money, capital and foreign exchange markets; commercial banking; investment banks, insurance companies, mutual funds and pension funds.

Change Management in Finance

The evolution of the Turkish banking sector from mid-1850s to today. Projections about potential directions of the banking sector. Case studies and articles from the print media.

Derivative Securities

Managing financial price risk with derivative. The costs and benefits of derivative instruments such as, forwards, futures, options and swap contracts to change the risk exposure of corporations and financial intermediaries with applications in international markets.

Corporate Strategy and Risk Management

Generating insightful understanding of risk at the decision level of budgeting, strategic planning, capital structure, investment/divestments. An approach to and implementation of financial risk management for industrial firms.

Macroeconomic Analysis for Management

Effects of macroeconomic policies such as fiscal, monetary, and foreign exchange on business. Causes and consequences of inflation and unemployment. Economic growth and technological progress. Open economy, international flow of goods and capital, exchange rates.

Valuation and Corporate Restructuring

Creating value through corporate restructuring and examining how various types of restructurings impact creditors, shareholders, employees and other stakeholders. Topics covered include quantitative background on corporate valuation methodologies; application of these methodologies to value creation through restructurings such as mergers and acquisitions, bankruptcy reorganizations and workouts, corporate spin-offs, targeted stock offerings, and employee buyouts.

Portfolio Management

Techniques available to assist the investor in making the risk/return trade-off; principles of modern portfolio theory; asset pricing under the capital asset pricing model and the arbitrage pricing model; asset allocation; use of derivative securities in portfolio insurance; valuation of fixed income securities and interest rate risk management in fixed income portfolios; and assessing investment performance.

Private Equity Finance

The private equity industry and particularly the venture capital market. Applying the theoretical frameworks used in corporate finance to analyze activities and institutions in the private equity market. The key institutional features of the private equity industry. How institutions and contracts are structured to mitigate agency costs and information problems that are endemic to private equity investments. Focus on the structure of contracts and institutions in the venture capital market. Private equity investments in mature and distressed companies. Valuation process in a private equity setting. Valuation techniques used by private equity investors to demonstrate how the value of private equity investments is inextricably linked to the cash flow and control rights provided to investors and entrepreneur/manager of the firms.

Bank Financial Management

Differences between banks, other financial intermediaries, and securities markets as sources of corporate financing; unique aspects of banks as financial intermediaries; bank contracts, their pricing and management with respect to interest rates, inflation and credit risk; measures of interest rate risk and hedging techniques; securitization of bank assets; reasons for the rapidly growing importance of non-bank sources of funds for corporations, and implications for the future of the banking industry.

Turkish Economy

Examination and evaluation of the developments in Turkish economy using the basic economic concepts and tools. Investigation of the post-1980 Turkish economy, with emphasis on current policy issues and future prospects.

The first and foremost condition for joining the Koç MSc in Finance Program is to be a highly motivated and dedicated individual. In addition, applicants must possess the following qualifications: * An undergraduate degree from an accredited institution * Minimum two years of full-time professional work experience * Completed military service (if applicable) or proof of deferment * Proficiency in EnglishIn order to apply to the MSc in Finance Program, the applicants must complete the online application (gradapp.ku.edu.tr) and upload the following; * An official academic transcript from every university attended * Three essays as specified * Application fee payment slip * A written statement of corporate supportTwo Reference Letters should be submitted for the application. The candidate should provide the contact information of those who will fill in the reference letters in the online application. They will be provided with the web link of the reference letter form via e-mail. Selected applicants will be called for an interview by the Graduate School of Business. The candidates will be given a short article to read and study before the interview and will be asked to answer questions related to the article as a part of the interview process. Standardized tests such as TOEFL and GMAT may also be required. Work Experience At least 2 year(s) of work experience is required.

Accreditation

EQUIS accredidation is given to the business and management schools. Its scope covers all programs and activities in this area. Koç University College of Administrative Sciences and Economics, Business Administration, Economics, International Relations BA programs, Graduate School of Business MBA, Exectuvie MBA, MSc. in Finance and PhD in BA programs are evaluated in this scope. EQUIS evaluates a school according to 10 different criteria: 1. Governance and Strategy, 2. Programs, 3. Students, 4. Faculty, 5. Research and Development, 6. Executive Education, 7. Contribution to Society, 8. Resources and Management 9. International Status 10. Corporate Relations

Koç University Business School earned the EQUIS accreditation in March 2009. EQUIS - the European Quality Improvement System - is a leading international system of quality assessment, improvement, and accreditation of higher education institutions in management and business administration administered by EFMD. Its scope covers all programs offered by an institution from the first degree up to the PhD, including non-degree programs.

Koç University Business School prides itself on being the first and only school in Turkey and its neighboring region to obtain EQUIS accreditation. The accreditation is one of the milestones in the School's efforts towards achieving global recognition with its programs, students, alumni and faculty.