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1、WISE 学生培养方案 1厦门大学王亚南经济研究院 学生培养方案 新加坡管理大学应用金融硕士（SMU-MAF）培养方案.2（一）培养目标.2（二）培养要求.2（三）专业介绍.2（四）课程设置.2（五）课程介绍.3WISE 学生培养方案 2新加坡管理大学新加坡管理大学应应用金融用金融硕硕士（士（SMU-MAF） ）培养方案培养方案（一）培养目标（一）培养目标培养具备现代金融理论、熟悉金融市场运行规则、掌握现代金融工具的高级应用型金融专门人才。中国经济的快速发展和经济全球化呼唤中国建立一个健全、统一、高效并与国际接轨的开放性金融市场，其中最为关键的是需要相关人才的培养。该项目专业课程非常贴近注册金
2、融分析师（CFA）资格考试的要求，有利于学员在CFA 资格考试中取得出色成绩。所有课程考试合格修满规定学分后即可获得SMU 应用金融硕士学位。通过一年国内学习准备，学生在WISE 严格细致的教学指导下，将奠定坚实的英语、数学及经济学、金融学等基础。这十分有利于学生第二年在短时间内适应新加坡的留学生活与学习，按时以优异成绩完成学业。（二）培养要求（二）培养要求学习年限：学习年限：两年，第一年在国内，第二年在新加坡学员所有课程考试合格修满学分后即可获得SMU应用金融硕士学位（三）专业介绍（三）专业介绍SMU 应应用金融用金融硕硕士士项项目目专业专业方向：方向： 风险管理（Risk Manageme
3、nt） 金融工程 (Financial Engineering) 公司理财 (Corporate Finance) 投资银行 (Investment Banking) 商业银行管理 (Commercial Banking Management)（四）课程设置（四）课程设置SMU 应应用金融用金融硕硕士士项项目目课课程程设设置（包括准置（包括准备备与与选选修修课课程）程）中文名称中文名称英文名称英文名称商务英语IBusiness English I商务英语IIBusiness English II财务报表分析IFinancial Statement Analysis IWISE 学生培养方案 3
4、财务报表分析IIFinancial Statement Analysis II经济分析Economic Analysis数量方法与统计学Quantitative Methods & Statistics股权分析Equity Analysis固定收益分析Fixed Income Analysis衍生工具分析Derivatives Analysis组合管理Portfolio Management财务报表分析IIIFinancial Statement Analysis III高级数量与经济分析Advanced Quantitative & Economic Analysis高级股权分析Advanc
5、ed Equity Analysis高级固定收益分析Advanced Fixed Income Analysis高级衍生工具分析Advanced Derivatives Analysis高级组合管理Advanced Portfolio Management银行风险管理Bank Risk Management公司理财Corporate Finance公司风险管理Corporate Risk Management企业战略与财务状况Corporate Strategy & Financial Performance金融风险管理Financial Risk Management对冲基金管理Hedge
6、Fund Management投资咨询服务与财富管理Investment Advisory Service & Wealth Management私人证券与风险资本投资Private Equity & Venture Capital Investing结构化产品Structured Products技术、电子商务与金融Technology、e-Commerce & Finance（五）课程介绍（五）课程介绍FNCE601 Corporate Finance Analytical techniques and tools are the focus of this course to answe
7、r the three key questions facing every business. These questions involve investment, financing and dividend decisions. Topics covered in this course will examine the concepts of hurdle rates, valuation, capital structure, dividend payout and share buyback as well as corporate restructuring, divestit
8、ures and mergers & acquisitions. WISE 学生培养方案 4FNCE603 Equity AnalysisIn this course, valuation models such as discounted cash flow models, P/E multiples, and alternative-pricing models will be covered. Financial ratios as a measure of risk will be discussed. Implication of efficient market theory on
9、 fundamental and technical analysis will also be examined. Global and local equity market features will be incorporated to add depth to the module.FNCE604 Fixed Income AnalysisThis course focuses on the fixed-income markets and basic analytical tools used in analyzing fixed income securities. Featur
10、es of fixed-income securities and credit rating will be covered in detail. Topics on basic analytical tools include: interest rates and yield-curve mathematics, duration analysis and convexity. Theories on the term structure of interest rates will also be discussed.FNCE605 Derivatives Analysis This
11、module introduces the concept of derivative pricing based on the idea of an arbitrage-free market. Basic derivative instruments such as forwards, futures, options, and swaps will be covered. Valuation models for forwards and the Black-Scholes model for options will be studied. The difference between
12、 forwards and futures will be discussed. The module contents will also address the hedging issue and the trading issue. From a hedging perspective, option Greeks, interest rate and currency swaps versus exposures, and forward-spot basis risks will be studied. From a trading perspective, arbitrage op
13、portunities, violations of parities such as put-call parity, and other options strategies will be reviewed.FNCE607 Portfolio Management This module covers the basic concept of investment in financial markets. Equity portfolio investment is studied in detail. Concepts of risk and return are analyzed
14、in the context of formal pricing models such as the Capital Asset Pricing Model and the Arbitrage Pricing Theory. Aspects of efficient market theory and anomalies are considered. The concept of portfolio diversification and the construction of optimal portfolios such as mean-variance efficient portf
15、olios are studied. The syllabus extends to the consideration of international diversification and investments where currency risks and interest rate risks need to be evaluated.FNCE609 Financial Risk Management This module focuses on risk management in multinational corporations and financial institu
16、tions. Module covers major areas such as foreign exchange, money market instruments, Euromarkets exchange, traded instruments versus O-C-T products, derivative products, understanding the corporations risk exposure , issues in measurement of exposure, risk management in treasury operations and asset
17、/liability management in financial institutions.FNCE611 Private Equity and Venture Capital InvestingThe elective explores topics and issues in private equity and venture capital investing from both the point of view of the investors as well as the entrepreneurs. The course is suited for those who ar
18、e interested to pursue a career in the private equity and venture capital industry. It will give an overview of the private equity and venture capital industry in Asia and US and also provides the foundation on general investment terms and structure, equity and debt classes, valuation approaches, du
19、e diligence processes and exit/divestment strategies. It will be taught with a combination of case studies, lecture-discussions including visiting entrepreneurs.WISE 学生培养方案 5FNCE612 Hedge Fund Management This course will provide an overview and a framework for hedge fund management. Topics will incl
20、ude hedge fund objectives, institutional features, statistical and econometric concepts, hedge fund strategies , fund of hedge funds , risk management , performance measurement and compensation issues.FNCE615 Corporate Strategy & Financial PerformanceTodays financial analysts need to appreciate the
21、impact that a strategy-focused organization will have on the bottom line. This course will concentrate on building strategy maps and the know-how of translating strategy to operational terms. Different corporate strategies will be examined and a model developed to measure the performance of effectiv
22、e strategic planning. This will result in some appreciation of the balanced scorecard and the linking of metrics with goals.FNCE617 Economic Analysis This module covers the principles of micro- and macroeconomic analysis, with particular reference to economic management and the financial markets. Ou
23、r aim is to learn theories in order to apply them in analysis. Topics in microeconomics include supply and demand, competition and monopoly, externalities and the new IT economy. Topics in macroeconomics include growth, trade, cycles and the recent developments in the rational expectation theory. FN
24、CE621 Advanced Quantitative and Economic AnalysisThis module builds on and extends the coverage of the earlier modules of ECON601 Economic Analysis and STAT602 Quantitative Methods and Statistics. Some advanced topics in analysis of economic data are covered, including multiple regression model, tim
25、e series and econometric modeling, nonparametric statistics, multivariate analysis. Applications of these techniques in portfolio management, economic forecasting, term structure modeling, asset pricing theories, performance measures and interest rate management will be examined.FNCE622 Advanced Equ
26、ity AnalysisThis course is the continuation of FNCE605 Equity Analysis. In this module, various equity valuation models are revisited together with option pricing models. Risk-return relationship and asset pricing models will be introduced. Empirical evidence on asset pricing theories as well as the
27、 effect of corporate announcements (e.g. bond rating changes, going private transactions, public and private equity placements) on stock prices will be discussed. Equity portfolio management strategies will also be examined.FNCE623 Advanced Fixed Income AnalysisThis course is the continuation of FNC
28、E606 Fixed Income Analysis. This module focuses on fixed-income derivatives and risk management. Valuation models on fixed-income securities with embedded options, such as callable and convertible bonds, will be discussed in detail. Issues in securitization, asset-backed securities and options prici
29、ng theory with applications to fixed-income market will be covered.FNCE624 Advanced Derivatives AnalysisWISE 学生培养方案 6This module builds on and extends the coverage of the basic module FNCE607. The basic concepts will be reinforced with some degree of modeling skills including the building of simple
30、PDEs using Itos lemma. Some ideas of extension of Black-Scholes and other adaptations to different commodities and financial instruments will be provided. More sophisticated theories such as forwards versus futures pricing, and interest rate swaps versus interest rate futures will be covered. Intere
31、st rate derivatives such as caps, floors, and others will be studied. The use of derivatives in risk management will also be analyzed.FNCE625 Advanced Portfolio ManagementThis module builds on and extends FNCE608 Portfolio Management. The module covers the complete investment process from constructi
32、ng investment objectives and policies to broad class asset allocation, portfolio selection, revisions, monitoring, and performance measurement and attribution. Practical issues relating to investment management philosophy and style, and active and passive management will be discussed. Advanced techn
33、iques in portfolio construction involving the use of single index, multi-factor and Arbitrage Pricing Theory models are studied.FNCE626 Investment Advisory Service & Wealth ManagementInvestment advisory service is a part of financial planning for individuals. The course will start with a review of t
34、he financial planning process, tools of financial planning, which include liquidity and credit planning. Tax planning, insurance planning, retirement planning and estate planning are key areas for servicing high net worth and high income clients. The course will include the construction of a written
35、 financial plan with a focus on recommendation of products offered by private banks and other financial institutions to meet the investment objectives of up-market clients. This elective is recommended for students who are contemplating client relationship and business development roles in the fast-
36、changing financial services industry.FNCE627 Bank Risk ManagementCome 2007, banks in many countries will have to start embracing a new approach to risk management. Commonly termed Basel II, it requires banks to move away from unvalidated human judgments to testable and verifiable empirical methods i
37、n assessing risk, especially credit risk. Countries that cannot meet with the deadline may have a few years of grace period but would eventually have to adopt this new approach. Basel II prescribes specific definitions and parameters that banks have to use for risk measurement. The module will cover
38、 these plus the immense challenges that they pose to banks. style, and active and passive management will be discussed. Advanced techniques in portfolio construction involving the use of single index, multi- factor and Arbitrage Pricing Theory models are studied.FNCE628 Corporate Risk ManagementThis
39、 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 corporations risk exposur
40、e, issues in measurement of exposure, risk management in treasury operations and asset/liability management in financial institutions.FNCE639 Structured Products WISE 学生培养方案 7This course will cover the use of structured products by fund managers for investment. These products include convertible bon
41、ds, mortgaged-backed securities, option-embedded bonds, equity- linked notes, dual currency options, reverse floaters and similar forms of innovative financial instruments. Participants will obtain a good understanding of the risk and return of these products, and their use in portfolio management.
42、ACCT601/602 Financial Statement Analysis I & IIThis module provides an introduction to key accounting concepts and knowledge. Accounting objectives, conventions and standards, and the rules that govern disclosure are examined. Other topics include ratio and cash flow analysis, analysis of inventorie
43、s and analysis of long-lived assets. There will be also be coverage on the analysis of financing liabilities, analysis of off- balance sheet activities, accounting for pensions and income taxes, and international accounting differences and their effect on financial statements. ACCT603 Financial Statement Analysis IIIThis module builds on and extends the coverage of the earlier module FNCE620 Financial Statement Analysis I and II. Advanced topics in financial statement analysis that include corporate restructuring, accounting for inter-corporate investments, me