Business School

Master of Business Administration - Financial Engineering

39 credits


Research Project
FIM699AFinancial Engineering - Analytical Report
3 credits    |    Pre-requisite: BUS689
A professional report or research paper should be based on the professional mission of an economist or financial expert/engineer. By mobilizing the knowledge that has been acquired throughout your MBA program, the report should highlight the capacity of the student to conduct an analysis in relation to a practical problem or to answer a trending research question to contribute to the development of the investment field. The report should have a point of view and include an analytical dimension, which promotes solutions, offer recommendations and show adapted measures.
Business Core
BUS689Research Methodology in Business
3 credits
This course provides the training needed for understanding, testing, conducting and writing a research paper in social sciences and management. It aims at helping students understand the stakes, the basics and the techniques of research in management by offering the tools for the personal development of their work.
FIM655Artificial Intelligence for Finance
3 credits    |    Pre-requisite: FIM640
This course will cover the major aspects of Machine Learning and Artificial Intelligence for Finance. At the beginning, this course will introduce students to the world of AI by covering the different Machine Learning algorithms from unsupervised learning to supervised learning. We will then explore Deep Learning and neural networks, specifically the Recurrent Neural Networks, which will be used later to deal with financial data. Towards the end of the course, students will learn about the different applications of Artificial Intelligence in Finance and how to apply deep learning methods to solve finance problems such as forecasting, credit rating and others.
FIM640Computational Finance
3 credits    |    Pre-requisite: FIM510
This course will cover the major aspects of Data Science and Artificial Intelligence. At the beginning, the course will introduce students to the world of programming through the Python programming language. We will then explore different Python packages for reading and dealing with data, which will be used later in data science applications. Towards the middle of the course, students will learn about the different applications of Artificial Intelligence (AI) and explore various Machine Learning (ML) algorithms to extract insights from data.
FIM510Financial Econometrics
3 credits
The course begins with a study of the Brownian movement, one of the central schools of thought in random processes. It moves on to an introduction to stochastic calculation, which has proved to be a remarkable tool in the study of stochastic processes for many years. The course introduces major elements, such as essential mathematical aspects of derivative products pricing, hedging, the strategies related to generic rate swaps, accreting, amortizing, rollercoaster, forward rate start, futures, first generation options and exotics, warrants, convertibles, credit linked notes, total return and credit default swap. Finally, the course ends with the study of diffusion described by stochastic differential equations, which model many physical phenomena.
FIM635Financial Products Engineering
3 credits    |    Pre-requisite: FIM590
This course defines the various swap structures (cash swap, accreting, forward, etc.). It develops short term residual assessment and zero coupon methods, as well as FRA series and futures strip arbitrage. Derivative and cash products cover techniques through swaps will be tackled; therefore, shedding light on the ratio of covers. Besides, interest rate swap futures will be at the heart of a particular study, notably in the scope of credit and curve spreads.
FIM590Fixed-Income Markets
3 credits
This course aims at shedding light on rate product structuring with a view to tackling sensible concepts for cover requirements. The course will also deal with duration and convexity concepts and their implication on neutral delta strategies, negative or positive gamma. Thus, it will be essential to introduce short run and long run rate futures with a view to tackle the Base concept. Furthermore, the establishment and follow up of a bondholder portfolio will be at the heart of practical cases.
FIM600Global Macro Analysis
3 credits
The objective of this course is to enable students to integrate economic information within the scope of macroeconomic analysis and deduce the consequences with a view to predicting the main macroeconomic variants (real GDP, inflation, interest rate, exchange rate, etc.). Such an analysis should mainly take into account the evolution of the international economy, especially the American economy as well as monetary and fiscal policies, expectations and education in economic cycles. It consists of an integral and differential calculation which is attached to Brownian movement.
FIM650Options Dynamic Assessment
3 credits    |    Pre-requisite: FIM635
This course is exclusively dedicated to options; thus, it will enable students to better define options of pricing problems within the context of stochastic processes. In addition, the course aims to master implicit volatility concepts through the study of volatility cones. The dynamic follow up of options portfolios will be taken into great account, notably for cover requirements. Acquiring expertise in the evaluation of exotic options (with barriers, digital, Asiatic, etc.) is fundamental for coupon products or guaranteed capital structuring.
FIN655Portfolio Management
3 credits
This course covers the various theoretical and practical aspects of quantitative portfolio management. It sheds light on the concerned theories’ implications, notably in the course of Capitals Market Theory at the level of investment policies and performance measure. Great attention is given to portfolio management active strategies. Furthermore, students will be aware of the themes related to investment policies (objectives, constraints), asset allocation, assessment and performance. Global and mandatory management along with the use of derivative products for insurance and coverage objectives will be examined as well.
FIM520Quantitative Analysis Applied to Finance
3 credits    |    Pre-requisite: FIM510
Due to the important revolution that took place in the financial markets in the past thirty years, new techniques have been invented to counter balance interest and exchange rates instability. The content of this course will provide students with the methodology that enables them to fix the price of many financial contracts. This course facilitates the comprehension of technical instruments through the application of quantitative methods on the financial markets. A full range of topics in probabilistic statistics and financial modelling will be addressed, because financial mathematics is a must for all candidates who want to join dealing rooms as quantitative traders and arbitrageurs. Statistical techniques can be employed to test if and how well securities are correlated and by implication how well suited they are for arbitrage and trading. The curriculum includes regression analysis, estimation approach, forecasting with times series, as well as high frequency pairs trading techniques.
FIM670Structured Products
3 credits    |    Pre-requisite: FIM650
This course aims to familiarize students with the techniques that link traditional business to optional products, and to modify the balance between risk and profitability of investors. In addition, the course introduces a wide vision related to creation possibilities of structured products since it includes in one presentation the products linked to shares, obligations and exchange rate. Finally, this course will enable students to understand and explain the countless products that are accessible to a mass audience.
FIM610Technical Analysis
3 credits    |    Pre-requisite: FIM600
This course aims at analyzing historical data in graphs in order to find tendencies, support and resistance points. In addition, pricing and the future evolution of prices will be tackled. Furthermore, tendency indicators and oscillators will be introduced, as well as the Elliott and Gan theory. An introduction to the economic system as a whole and the way it functions is affected by the behavior of interdependent sectors, which will also be addressed in order for the students to understand and highlight the intrinsic links between financial and macroeconomic cycles.

Learning Goal 1: graduates will have advanced knowledge of concepts in financial engineering.

Learning Objective 1: Apply programming and mathematical tools to complex financial problems.

Learning Goal 2: graduates will have focused decision-making abilities.

Learning Objective 1. Apply econometric theory and software in analyzing and evaluating investment decisions.
Learning Objective 2. Use quantitative tools in testing and implementing trading strategies.

Learning Goal 3: graduates will be ethically and socially responsible.

Learning Objective 1. Identify and analyze the various ethical issues in a business environment.
Learning Objective 2. Propose solutions of ethical issues related in a global business environment.

Learning Goal 4: graduates will have effective communication skills.

Learning Objective 1. Organize, write and execute oral and written professional reports for business in a global environment.
Learning Objective 2. Speak and present using professional communication skills and technology.
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