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The current tumultuous global financial crisis may be the first you have ever experienced in your lifetime, yet less severe financial crises happen every ten or twenty years. Understanding financial modeling, mergers and acquisitions and real options, corporate governance, business ethics and business strategy from a historical and current perspective can be an invaluable asset toward career advancement.
Program Description
A Master of Science (M.S.) in Finance from Webster is designed to provide a quantitative and comprehensive examination of the finance field. Students advance through the topics of corporate finance, investments, and market instruments and institutions. Additionally, students experience a significant exposure to supporting coursework in the closely related fields of accounting and economics. A capstone course ties together the major finance topics and exposes students to literature, and the analysis thereof, pertinent to the field. After a comprehensive examination of the field, students may choose their electives to satisfy their specific career goals.
Webster Vienna is the first and so far only institution in Austria that has been recognized by two world class institutes:
* The CFA Institute has welcomed Webster Vienna Private University in their University Recognition Program. The Master of Science in Finance program has been acknowledged as incorporating at least 70 percent of the Chartered Financial Analyst® (CFA®) Program Candidate Body of Knowledge. Also a limited number of Webster Universitys students are eligible for scholarships for the CFA® program.
* The Institute of Chartered Accountants in England and Wales (ICAEW) has recognized Webster Vienna Private University, as a Partner in Learning.
Webster Vienna has also additional partnerships to support their students to achieve their goals and take their career to the next level:
* In partnership with Kaplan Schweser, Webster Vienna has agreed to include Kaplan Schweser's industry leading knowledge and materials in order to prepare students for the CFA® exam.
* The Bloomberg Institute offers the BAT test which top employers in Investment Banking, Sales & Trading, Asset Management, Insurance, Financial Sales, and Consulting to find best-fit talent. Webster Vienna students can take the test twice a year at our campus so that our graduates get access to these career opportunities.
Learning Outcomes
* Students can determine the value of financial assets.
* Students can analyze the financial decisions of a corporation.
* Students can measure risk and formulate strategies to reduce it.
Degree Requirements
The Master of Science (M.S.) in Finance requires successful completion of 36 US credit hours, including 30 US credit hours of core courses and 6 US credit hours of electives from the field.
The following courses are required for the M.S. in Finance:
* BUSN 6070 Management Accounting (3 hours)
* BUSN 6120 Managerial Economics (3 hours)
* FINC 5000 Finance (3 hours)
* FINC 5210 Investments (3 hours)
* FINC 5810 Capital Budgeting and Corporate Investments (3 hours)
* FINC 5830 Institutions and Financial Markets (3 hours)
* FINC 5840 International Finance (3 hours)
* FINC 5880 Advanced Corporate Finance (3 hours)
* FINC 6290 Financial Strategies (3 hours)
* BUSN 6140 Business Research Analysis* (3 hours)
*) this course can be substituted for Master thesis credit by combining with 3 additional elective credit hours (6 hours for Master thesis).
Program Prerequisites:
* BUSN 5600 Accounting Theory and Practice (3 hours)
* BUSN 5620 Current Economic Analysis (3 hours)
* BUSN 5760 Applied Business Statistics* (3 hours)
*) if not waived, it counts towards elective credit hours
Note: Program prerequisites are to be completed before beginning coursework for the MS in finance for those students who have not completed prerequisite courses (or an appropriate equivalent) within five years of entering the program and having earned a grade of B or better. If the appropriate prerequisite course content was completed longer than five years prior to entering the program, the department will allow a waiver if the student demonstrates their command of the content area by successfully completing a waiver examination. The prerequisite courses BUSN 5600 and BUSN 5620 may not count as electives in the 36-credit-hour MS in finance.
Course Descriptions
BUSN 6070 Management Accounting
The student examines advanced topics in management accounting as these relate to management information needs for planning, control, and decision making. Topics include interpretation of standard cost variances; application of quantitative techniques; evaluation for divisional performance; activity-based costing; and the behavioral impact of accounting systems. Prerequisites: BUSN 5600 and BUSN 5760.
BUSN 6120 Managerial Economics
The student examines the application of microeconomics theory as applied to the managers' responsibilities within the organization. This course should emphasize the quantitative and qualitative application of economic principles to business analysis. Prerequisites: BUSN 5620 and BUSN 5760.
BUSN 6140 Business Research Analysis
The student examines the application of the tools and methods of research to management problems. The course focuses on the nature of research; the use of research in decision making; decision making; research concepts and methods for the collection, analysis, and interpretation of data from surveys, experiments, and observational studies; and the evaluation, use and presentation of research findings. The completion of a substantial research paper will also be required.
FINC 5000 Finance (Requisite Course)
The student examines the general nature of financial management, the American financial system, taxes, and the major financial decisions of corporations. Specific attention is given to present value and capital budgeting; risk and asset pricing; financial analysis and forecasting; financial decisions and market efficiency; and capital structure. Problem-solving methodology is used to illustrate the theories and tools in financial decision making. Prerequisite: BUSN 5600 and BUSN 5760 (BUSN 5200 cannot be substituted for FINC 5000.).
FINC 5210 Investments
Principles and methods of investing in securities of business and government. This course is a study of practical management of portfolios containing both fixed-income and equity investments. The course will examine the issues in and the procedures for security analysis and portfolio management. The emphasis is on the application of analytical techniques and portfolio management theories for individual investors. Prerequisite: FINC 5000.
FINC 5810 Capital Budgeting and Corporate Investments
The student examines the corporate investment decision process which includes working capital management, financial statement analysis, determination of cash flows, risk return analysis, forecasting, and asset investment. Prerequisite: FINC 5000.
FINC 5830 Institutions and Financial Markets
Students develop a unified framework for understanding financial intermediaries and markets. They examine the structure, regulation, and operation of banking and non-banking financial institutions; analyze how central bank operations affect financial institutions; and develop an understanding of money and capital markets, the flow of funds through the economy, and the role of financial and futures markets. Prerequisite: FINC 5000.
FINC 5840 International Finance
Course content focuses on the environment in which the international financial manager operates. Students study the risks of doing business overseas and the tools available to minimize those risks. Foreign exchange risk, political risk, working capital management, long-term investments and financing, and accounting and control are examined within this context. Prerequisites: BUSN 5600, FINC 5000, or equivalents.
FINC 5880 Advanced Corporate Finance
This advanced study of corporate financial analysis and planning includes capital budgeting, cost of funds, and capital structure and valuation. Selected topics that may be covered are leasing, mergers, takeovers, business failure, reorganization, and liquidation. A combination of problem-solving and case study methodologies is used to illustrate theories and techniques helpful in financial analysis and planning. Prerequisite: FINC 5000.
Capstone Course
FINC 6290 Financial Strategies
This course will be a final, comprehensive finance offering that will make use of cases and/ or simulations to enhance the real-world applicability of the finance degree and to integrate all previous coursework. Prerequisite: completion of all other required courses for the MS in fianace
Accreditation
Webster University Vienna is the only dually accredited university in Austria, with both, the US accreditation as well as with Austrian private university accreditation by the local Ministry of Education. Each Webster University degree has the US Accreditation, if a student would also like to receive the Austrian accreditation (dual accreditation of US and Austria), the last year (10 courses around 30 credit hours) has to be completed at the Webster University Vienna campus.
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