Banking and Finance

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The Master of Banking and Finance degree courses at Near East University offer you a unique opportunity to study advanced theory, practice and analysical skills for a successful career in the field of banking and finance. Banking and finance are among the most dynamic industries in today’s global economy. Financial institutions are playing an important role in the world economy. The main objective of this programme is to provide a through understanding of the ways in which financial institutions operate, and the structure and functioning of the markets. This programme taught jointly by the Department of Economics and Department of Business (MBA). Participants who end the program successfully will either obtain a Master of Art (MA) in Banking and Finance or Master of Science (MSc.) in Banking and Finance.

The MA in Banking and Finance is a practical and career-oriented program, which is ideal for candidates who wants to expand their knowledge in the area. Candidates for the MA in Banking and Finance are required to complete 14 courses (42 credits) without dissertation. These 14 courses include 3 core (compulsury) courses and 11 optional (electives) courses.

The MSc. in Banking and Finance is a rigorous programme that will provide you the knowledge and analysical skills, which is ideal for candidates who wishes to develop their expertise and further their professinal careers. Candidate for MSc. in Banking and Finance are required to complete 12 courses (36 credits) and Master Thesis (6 Credits). These 14 courses include 4 core courses, 8 elective courses and a project course equivalent to two courses.

A good grounding in the principles of economics, accounting and finance is essential to gain a full understanding of the banking and financial sector of the economy. Students whose undergraduate are not in the field of banking, economics or business backgroound are also acceptable for the master programme. For those students, foundation courses must be completed before students enroll in banking and finance department. These courses are determined by the Committee Meeting of the Department of Banking and Finance. The structure of the programme and course descriptions are given below.

Prof. Dr. Çelik Aruoba
Prof. Dr. Ümit Hassan
Prof. Dr. Aykut Polatoğlu
Assoc.Prof.Dr. Mehmet Aga
Assoc. Prof. Dr. Şerife Eyüpoğlu
Assoc. Prof. Dr. Bülent Evre
Assoc.Prof. Dr. Erdal Güryay
Assoc.Prof.Dr. Zeliha Khashman
Assoc. Prof. Dr. Hüseyin Özdeşer
Assoc.Ptof Dr. Nurcan Özgür
Assoc.Prof.Dr. Mustafa Sağsan
Assoc. Prof. Dr. Tülen Saner
Assist.Prof. Dr. Ali Dayıoğlu
Assist. Prof.Dr. Ahmet Ertugan
Assist. Prof. Dr. Nil Günsel Reşatoğlu
Assist. Prof. Dr. Turgut Türsoy
Dr. Ergin Akalpler
Dr. İlksoy Aslım
Dr. Dilek Latif
Dr. Muhittin Tolga Özsağlam
Dr. Berna Serener

I. Core Courses
FIN 502 Bank Management
FIN 516 Financial Management
FIN 527 Economics of Financial Markets
FIN 534 s Quantitative Methods for Finance (Compulsury for MSc. Degree)

II. Technical Elective Courses
ACC 505 Advanced Topics in Accounting
ACC 506 Financial Reporting and Analysis
BANK 501 International Banking
ECON 501 Microeconomics
ECON 512 International Economics I
ECON 515 Trends in Globalization
ECON 544 Fiscal Policy
ECON 511 Macroeconomics
FIN 501 Mathematics of Finance
FIN 504 International Finance
FIN 517 Investment Analysis
FIN 518 Portfolio Management
FIN 524 Corporate Finance
FIN 528 Financial Statement Analysis
FIN 529 Financial Risk Management
FIN 530 Fund Management
FIN 531 Money Market Analysis
FIN 532 Monetary and Fiscal Policy
FIN 533 Advance Topic in Finance
FIN 537 Financial and Economic Crises
MAN 504 Quantitative Analysis of Business and Economics
MAN 599 Master Thesis (6 Credit)

I. Core Courses
FIN 502 Bank Management
The objective of this course is to provide a conceptual and analytical framework required to manage a modern commercial bank in a rapidly changing environment. Topics include asset and liability management, capital adequacy, bank holding companies, profitability, and bank market structure and regulation.

FIN 516 Financial Management
This course is designed to provide a broad understanding of financial management concepts. The course introduces broad topics and techniques for effective financial decision-making and for assessing the impact of these decisions on the performance of the company. Also in this course, students discover how managers maximize shareholders’ wealth by choosing the optimal allocation of capital and the optimal financial structure of the firm. Therefore, the course covers the following topics: financial statements and their analysis, risk and rates of return, the time value of money, the valuation of stocks and bonds, the cost of capital, capital budgeting, and cash flow estimation and risk analysis, capital structure and dividend policy and working capital management.

FIN 527 Economics of Financial Markets
The reasons of studing money, banking and financial markets; An overviev of the financial system; Understanding interest rates; Portfolio choice; The risk and term structure of interest rates; Economic analysis of financial structure; Economic analysis of banking regulation; The keynesian framework and the ISLM Model; Monetary and fiscal policy in the ISLM Model; Rational expectations: implications for policy.

FIN 534 Quantitative Methods for Finance
The purpose of the course is to introduce a range of quantitative methods that are commonly used in several areas of finance. This course is taught in two parts. In the first part, we will introduce concepts and methods from statistical inference and regression analysis. The second part will include additional topics in regression analysis and time series analysis. Emphasis will be given on applications of the techniques in finance through class examples and assignments. Students will also become familiar with analyzing financial data through quantitative techniques and, more importantly, with interpreting and evaluating results from the quantitative analysis.

II. Technical Elective Courses
ACC 505 – Advanced Topics in Accounting
This course is comprised of the following topics: ethical issues in advanced accounting, partnership: organization and operation, partnership liquidation and incorporation; joint ventures, accounting for branches; combined financial statements, business combinations, consolidated financial statements; on the date of business combination, consolidated financial statements; subsequent to date of business combination, consolidated financial statements; intercompany transactions, consolidated financial statements: income taxes, cash flows, and installment acquisitions, consolidated financial statements: special problems and international accounting : reporting of segments, for interim periods, and to the SEC.
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ACC 506 – Financial Reporting and Analysis
This course is comprised of the following topics: the economics of accounting information, accrual accounting and the income statement, the balance sheet: market value versus historical cost, the cash flows statement and the importance of cash flows, notes receivable, notes payable and the time value of money, timely reporting: recognizing future bad news early, product costs: inventories and cost of goods sold, allocating the cost of property and equipment, investments in intangible assets and other companies.

BANK 501 International Banking
For bankers and professionals who need to understand the role, function, and organization of international banking operations this course addresses the organizing of international banking financial operations; correspondent banking relationships; foreign lending; banks crashes; supervision and regulation; and money laundering. The main objective of the course is to give the students the tools to understand problems/challenges manages face in an international setting and to tackle with these problems.

ECON 501 Microeconomics
This course develops the theories of consumer behaviour and production theory of the firm, and analyses theories of market behaviour and efficiency, policy implications of the theory developed. General equilibrium theory and welfare economics. Supply and demand. Pricing in Competitive and non competitive markets. The theory of profit maximisation.

ECON 512 International Economics I
International trade theory, law of comparative advantage, economies of scale, imperfect competition and international trade, economic growth and international trade, International trade policy, tariffs and non tariff barriers to trade, new protectionism, economic integration (customs union and free trade areas), international trade and economic development, multinational corporations.

ECON 556 Trends in Globalization
This course analyses the historical evolution of the Globalizationand the effects on the society. The important implications of Globalization and the main trends in this process will be studied. The general analysis of the possible impacts on the third world countries will be examined.

ECON 544 Fiscal Policies
In this course definition of fiscal policy and than the role of fiscal policy in history will be explained. Instruments of fiscal policy and why they used by governments. How we can use fiscal instruments for budget deficit and how taxes affect the investment decisions also will be discussed. Expansionary and contractionary fiscal policies.

ECON 511 Macroeconomics
This course primarily attempts to develop a general dynamic model of an open economy which can be used to analyze the response of major macroeconomic variables (like GNP ,inflation rate, investment,consumption, net exports, interest rates, and exchange rate) to policy changes and shocks both in the short-run and the long-run.

FIN 501 Mathematics of Finance
This course objective is to provide students with practical understanding key equation and calculation tools used by financial management environment. Designed to form of master course and it covers the major areas of financial management. The combination of practice and theory supported by computational tools is reflected in the selected topics.

FIN 504 International Finance
This course covers the vital topics related to international financial environments. The main topics included are introduction to exchange rate, the market for foreign currency, exchange rate regimes, international monetary system, balance of payments, prices in the open economy, financial markets in the open economy, managing operating exposure, managing transaction exposure, forward, futures and options markets, international banking, sourcing debt internationally, and sourcing equity internationally.

FIN 517 Investment Analysis
Money Market Securities, The Time Value of Money, Issuing and Trading Securities, Secondary Security Markets , Security Market Indexes , Short Positions, Hedging, and Arbitrage, Total Risk and Risk Factors, Bond Valuation, Common Stock Valuation, Fundamental Analysis, Technical Analysis .

FIN 518 Portfolio Management
Systematic Portfolio Management, Bond Portfolio Management, Futures, Put and Call Options, Portfolio Analysis, Capital Market Theory, Arbitrage Pricing Theory, Portfolio Performance Evaluation, Portfolio Tactics, International Investing.

FIN 524 Corporate Finance
This course focuses on financial decision making in the modern corporation. The basic issues include: capital budgeting/corporate investment, capital structure, corporate sources of funding, dividend policy and corporate contingent claims, international finance, and financial risk management. Some areas of corporate finance that are covered in electives – leasing, mergers and acquisitions, working capital management – will be omitted or covered in less detail than they merit. Course concepts are integrated into the standard theories of risk and return, valuation of assets and market structure (i.e., the concepts developed in the finance core course, Foundations of Finance, will be heavily utilized).

FIN 528 Financial Statement Analysis
This course is designed to allow student to gain financial statement analysis perspectives. The main goal is to provide students with a broad, practical perspective to work on financial statement analysis to determine: A reasonable assessment of the financial condition of the firm, what may be reasonable forecasts of its future position?, Whether the firm is worthy of credit, the operation characteristics of the firm.

FIN 529 Financial Risk Management
This module focuses on risk management in multinational corporations and financial institutions. Module covers major areas such as foreign exchange, money market instruments, Euro-markets exchange, traded instruments versus O-T-C products, derivative products, understanding the corporation’s risk exposure, issues in measurement of exposure, risk management in treasury operations and asset/liability management in financial institutions.

FIN 530 Fund Management
This course will give the students the tools to understand, and manage funds in a real world setting. This course will start with lectures on role of funds, and how to administrate funds. Then there will to an introduction to investment mathematics, portfolio management and performance evaluation.

FIN 531 Money Market Analysis
The objective of this course is to clearly demonstrate all the money market instruments, the various conventions used for money market calculations and to discuss other short-term structured financial products such as asset-backed securities and mortgage-backed securities. Money market instruments are discussed extensively.

FIN 532 Monetary and Fiscal Policies
Monetary theory and policy tools, an overview of financial mechanism, interest rate determination, analysis of the demand of supply of money, monetary transmission mechanism, introduction to fiscal theory and policy, government expenditures budgeting, taxation and subsidies and government finance.
FIN 533 Advanced Topic in Finance (Prerequisite of FIN 634)
This course is the continuation of FIN 634, which provides students with an understanding of issues involved in finance by examination of recent seminals published in selected areas of the finance. The course aims to help student develop a critical perspective on the development of the academic finance discipline and its contribution to the practice of finance; through a written article.

FIN 537 Financial and Economic Crises
As a result of globalization in the world economy the financial and economic crises are becoming a more serious problem for all the countries. So the course is analysing the reasons of economic and financial crises in the world countries and also suggests the required solutions.

MAN 504 Quantitative Analysis of Business and Economics
The objective of the course is to discuss the utilizations of statistical and mathematical methods in decision making. The main topics covered include the characteristics of decision making process, the concepts and criteria used in decision making, decision making techniques under certainty and uncertainty, optimization, model building and simulation.

MAN 599 Master Thesis (6 Credit)
The MSc. in Banking and Finance thesis should be a record of original work and/or a critical exposition of existing knowledge. Writing a Master Thesis involves a distinct contribution to the literature and afford evidence of originality, shown by the discovery of new facts by synthesizing material from a variety of sources, gathering data and analysing it. Students are encouraged to chose their subject and work on it with guidance from a member of staff who is an expert in the field. (Word limit is 10,000 – 15,000 words).