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新加坡管理大学应用金融硕士（SMU-MAF）培养方案（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融分析师（CFA）资格考试的要求，有利于学员
2、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SMU 应用金融硕士项目专业方向： 风险管理（Risk Management） 金融工程 (Financial Engineering) 公司理财 (Corporate Finan
3、ce) 投资银行 (Investment Banking) 商业银行管理 (Commercial Banking Management)（四）课程设置SMU 应用金融硕士项目课程设置（包括准备与选修 课程）中文名称 英文名称商务英语I Business English I商务英语II Business English II财务报表分析I Financial Statement Analysis IWISE 学生培养方案 3财务报表分析II Financial Statement Analysis II经济分析 Economic Analysis数量方法与统计学 Quantitative Met
4、hods & 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III Financial Statement Analysis III高级数量与经济分析 Advanced Quantitative & Economic Analysis高级股权分析 Advanced Equity Analysis高级固定收益分析 Advanced Fixed Income Analysis高级衍生工具分析 Advanced De
5、rivatives 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 Fund Management投资咨询服务与财富管理 Investment Advisory Service & Wealth Mana
6、gement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FNCE601 Corporate FinanceAnalytical techniques and tools are the focus of this course to answer the three key questions facing every business. These questions involve
7、 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, divestitures and mergers & acquisitions. WISE 学生培养方案 4FNCE603 Equity AnalysisIn
8、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 fundamental and technical analysis will also be examined. Global and lo
9、cal 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. Features of fixed-income securities and credit rating will be covered in detai
10、l. 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 module introduces the concept of derivative pricing based on the idea of
11、 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 forwards and futures will be discussed. The module contents will also a
12、ddress 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 opportunities, violations of parities such as put-call parity, and other o
13、ptions 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 in the context of formal pricing models such as the Capital Asset Pricin
14、g 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 portfolios are studied. The syllabus extends to the consideration of internat
15、ional 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 institutions. Module covers major areas such as foreign exchange, money market
16、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/liability management in financial institutions.FNCE611 Private Equity a
17、nd 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 are interested to pursue a career in the private equity and venture capita
18、l 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, due diligence processes and exit/divestment strategies. It will be taught
19、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 include hedge fund objectives, institutional features, statistical and econo
20、metric 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 impact that a strategy-focused organization will have on the bottom line
21、. 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 effective strategic planning. This will result in some appreciation of the balan
22、ced 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. Our aim is to learn theories in order to apply them in analysis. Topics in
23、 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. FNCE621 Advanced Quantitative and Economic AnalysisThis module builds on a
24、nd 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, time series and econometric modeling, nonparametric statistics, multivariat
25、e 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 Equity AnalysisThis course is the continuation of FNCE605 Equity Analysis.
26、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 effect of corporate announcements (e.g. bond rating changes, going priv
27、ate 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 FNCE606 Fixed Income Analysis. This module focuses on fixed-income derivati
28、ves 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 pricing theory with applications to fixed-income market will be covered.FNCE6
29、24 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 PDEs using Itos lemma. Some ideas of extension of Black-Scholes and othe
30、r 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. Interest rate derivatives such as caps, floors, and others will be studied. Th
31、e 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 constructing investment objectives and policies to broad class asset allocation, p
32、ortfolio 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 techniques in portfolio construction involving the use of single index, multi
33、-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 the financial planning process, tools of financial planning, which includ
34、e 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 financial plan with a focus on recommendation of products offered by pr
35、ivate 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-changing financial services industry.FNCE627 Bank Risk ManagementCome 20
36、07, 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 in assessing risk, especially credit risk. Countries that cannot meet wit
37、h 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 these plus the immense challenges that they pose to banks. style, and a
38、ctive 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 module focuses on risk management in multinational corporations and fina
39、ncial 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 exposure, issues in measurement of exposure, risk management in treasury operati
40、ons 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 bonds, mortgaged-backed securities, option-embedded bonds, equity-linked not
41、es, 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. ACCT601/602 Financial Statement Analysis I & IIThis module provides an int
42、roduction 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 inventories and analysis of long-lived assets. There will be also be coverage on the
43、 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 ear
44、lier module FNCE620 Financial Statement Analysis I and II. Advanced topics in financial statement analysis that include corporate restructuring, accounting for inter-corporate investments, mergers and acquisitions, distress analysis, accounting for global corporations and the use of financial statements as a tool for valuation and forecasting will be covered.
