Institute of Graduate Studies and Research
International Banking and Finance (MSc)
Duration
2 Years
Apply
About the Program
The master’s degree in international banking and finance is aimed to prepare students for careers as bankers, financial executives, and lecturers. It also provides theoretical, conceptual, technical, and practical knowledge.
The core banking and finance courses should be completed prior to enrolling in the technical elective courses. The thesis can only be taken upon successful completion of the core banking and finance courses and the technical elective courses. Each semester students can enroll in a minimum of 2 and a maximum of 4 courses. Students who lack adequate foundation in basic banking/finance courses are required to successfully complete the following courses (non-credit) before proceeding with the international banking and finance master’s program;
Education Opportunities
Our program does not only focus on the theories of international banking and finance but also help students to deepen their understanding of the inner workings of banking and finance sector in the real world. Department staff acknowledges the necessity of improving and introducing modern teaching techniques such as term projects and practical application of knowledge and assessment methods designed to develop students’ skills. The class hours in the Finance Laboratory students will observe real life data related to money and capital markets which will help them to learn how the mechanisms of global markets work; students will also gain experiences in analyzing financial data. So, upon completion of this program, our students will be able to confidently invest in the securities market and manage their funds successfully.
Career Areas
Upon completion of the program, our students will be able to gain employability skills to help graduates be preferred in global or national financial institutions such as banks, investment banks, securities companies, asset management firms, insurance companies, and international organizations. So, our graduates will be able to tackle the adversity of the banking and finance sector; will gain a personal understanding on how the sector actually operates thus, they will have an edge over others in their respective fields.
Our program also prepares our students to excel academically and pursue an academic career by continuing to our Ph.D. program.
Contact
Institute of Graduate Studies and Research
Graduate Sciences and Education Center, GE106
Tel: +90 392 671 1111 Extension: 2776
Institute E-mail: ciu-institute@ciu.edu.tr
Compulsory Courses
First Semester
MONETARY POLICY AND ROLE OF CENTRAL BANK
Course code
INBA501Credit
3Theoretical
3Practical
0Ects
8
Financial Markets, Banking, and Monetary Policy provides a comprehensive introduction to the financial system, including the markets, institutions, and mechanisms of finance, as well as the role of the central bank and monetary policy. The economic principles underlying finance are woven through the chapters, and the course includes an insightful introduction into the causes of and responses to the recent financial crisis. After the completion of this course students will have detailed information regarding the following topics; Overview of the Financial System, The Special Role of Commercial Banks, The Pricing of Financial Assets, Factors Affecting Yields, Principles of Portfolio Selection and Efficient Markets, The Money Market, The Bond Market, Securitization, The Mortgage Market, The Equity Market, Central Banking and the Federal Reserve, Monetary Policy: The Basics, Monetary Policy: Challenges Faced by Policymakers.
MODERN THEORY OF BANKING AND FINANCE
Course code
INBA502Credit
3Theoretical
3Practical
0Ects
8
This course discusses financial governance and explains how financial markets and institutions complement each other. It also identifies the economic forces work within financial systems and explores how they determine system organization.This course also offers a theoretical survey of financial activity and its application to numerous practical situations. Course also explains both static financial system organization and the dynamics of financial system evolution. After the completion of this course students will have detailed information regarding the following topics; Financial System Functions, Financial System Governance, Financial System Organization and Change, Market versus Nonmarket Governance, Market Governance,Intermediation and Internal Governance, Terms of Deals, Pricing Stocks and Bonds, Pricing Derivatives by Arbitrage, Markets with Impediments to Arbitrage Securities, Bond and Mortgage Markets, Markets for Trading Risks, Exchange Rates and Markets, Marketable Securities Portfolios, Nonmarketable Securities Portfolios, Principles of Intermediation, Management Practice: Domestic Institutions, International Banking and Banking Markets.
ELECTIVE
Course code
INBA5x1Credit
3Theoretical
3Practical
0Ects
8ELECTIVE
Course code
INBA5x2Credit
3Theoretical
3Practical
0Ects
8Second Semester
THESIS
Course code
INBA500Credit
0Theoretical
0Practical
0Ects
60
Supervised independent research on a topic agreed between the student and the supervisor (a Faculty member) and approved by the Administrative Committee of the Institute.
SEMINAR
Course code
INBA590Credit
0Theoretical
0Practical
0Ects
4
.
ELECTIVE
Course code
INBA5x3Credit
3Theoretical
3Practical
0Ects
8ELECTIVE
Course code
INBA5x4Credit
3Theoretical
3Practical
0Ects
8ELECTIVE
Course code
INBA5x5Credit
3Theoretical
3Practical
0Ects
8Elective Courses
INTERNATIONAL FINANCIAL MARKETS & BANKING
Course code
INBA503Credit
3Theoretical
3Practical
0Ects
The aim of the class is to provide you with an understanding of the financial system and the roles and functions of financial markets and institutions. A particular emphasis is placed on understanding the roles of intermediaries such as banks and investment firms. Will develops an understanding of the various characteristics and roles of fixed income, equity, and foreign exchange markets. While some attention will be given to the global nature of financial markets will be widely discussed. This class aims to equip you with an awareness and understanding of financial markets and institutions in the context of the global economy. Particular emphasis will be placed on the role and contribution of the banking sector. This class covers the reasons for, and nature of, of financial markets and institutions with a particular focus on banking, the global nature of these markets and their regulation.
FINANCIAL STATEMENT ANALYSIS
Course code
ACFN504Credit
3Theoretical
3Practical
0Ects
6
This course is organized to help students to analyze and interpret the financial statements. Students will use the financial statements to decide the capital structure and solvency, profitability and liquidity positions of companies. This course will also teach students comparative analysis, vertical analysis, trend analysis, and ratio analysis to perform the analysis of financial statements. On successful completion of this course, all students will have developed knowledge and understanding of: Measuring and Estimating Costs, Accrual-based Versus Cash-flow-based Performance Measures, Cost of Capital, Credit Analysis, Growth Analysis, Decision Making, vertical analysis, trend analysis, and ratio analysis to perform the analysis of financial statements and Valuation and Accounting Quality.
BANK MANAGEMENT
Course code
INBA507Credit
3Theoretical
3Practical
0Ects
0
This course is an introduction to the modern theory of banking and financial intermediation. Despite their long history and importance, banks do not easily fit into the models that economists typically use. It will examine different modelling approaches, with an emphasis on models based on asymmetric information. We will also study theories of financial instability and regulatory response to instability. After the completion of this course students will have detailed information regarding the following topics; Banking and the Financial Services Industry, Government Policies and Regulation, Analyzing Bank Performance, Managing Noninterest Income and Noninterest Expense, The Performance of Nontraditional Banking Companies, Pricing Fixed-Income Securities, Managing Interest Rate Risk: Earnings Sensitivity, Managing Interest Rate Risk: Duration Gap and Economic Value of Equity, Using Derivatives to Manage Interest Rate Risk, Funding the Bank, Managing Liquidity, The Effective Use of Capital, Overview of Credit Policy and Loan Characteristics, Evaluating Commercial Loan Requests and Managing Credit Risk, Evaluating Consumer Loans, Managing the Investment Portfolio and Global Banking Activities.
PORTFOLIO THEORY AND EQUITY ANALYSIS
Course code
ACFN505Credit
3Theoretical
3Practical
0Ects
6
The aim of the course is to provide students with knowledge of portfolio management concepts such as Markowitz Portfolio Selection Process, Efficient Frontiers, Capital Asset Pricing Model and Arbitrage Pricing Theory. This course will enhance the student’s critical thinking as well as knowledge of specific techniques in the investment process, the global market investment decision, efficient capital market, stock market inefficiencies (anomalies), behavioral finance, variables that forecast stock returns, quantitative optimization methods based on stock return forecasting models and mean-variance analysis, equity style management, transaction costs, quantitative optimization methods based on stock return forecasting models and mean-variance analysis and measuring the performance of active portfolio managers.
RESEARCH METHODS
Course code
ACFN515Credit
3Theoretical
3Practical
0Ects
6
Through theoretical and field based application of modern techniques, this course provides an opportunity for participants to enhance their knowledge in research as well as equipping them to undertake effective research in their respective disciplines. This course will equip our students with the necessary knowledge of variety methods of qualitative data collection and analysis, give practical experience of research and enable them to design and undertake on how to conduct a research paper, projects and /or thesis in future. Through a designed lectures, readings, class and field-based practical SPSS offers both a theoretical and practical introduction to qualitative research. It covers a good selection of the most commonly used qualitative technique. Also, it covers the basic quantitative analysis techniques like; Regression analysis. The module is committed to provide students with ‘hands on' experience of using the techniques as the best means to ensure effective learning.
ADVANCED CORPORATE FINANCE
Course code
ACFN584Credit
3Theoretical
3Practical
0Ects
0
The aim of the course is to analyze the primary issues in modern corporate financial theory and practice. The focus will be on the corporate practice (corporate financial policies) that will create value and maximize the wealth of shareholders. We will be concerned with what financial managers do and why, and how the theory of finance explains these behaviors. The course is designed in line with the subject topics covered in the Chartered Financial Analysts (CFA) Exam (Level I). The course studies the essentials of corporate finance with basic theories. It covers time value of money, financial statement analysis, valuing stocks and bonds, capital budgeting, capital structure decisions and cost of capital estimation.
INVESTMENT APPRAISAL
Course code
ACFN519Credit
3Theoretical
3Practical
0Ects
0
This course is devoted to the techniques of cost-benefit analysis of investment projects. The course covers both the analytical techniques as well as their practical applications in decision-making. The course topics will cover financial modeling of investment projects, alternative investment criteria, the role of discounting the time value of money, pre-feasibility and feasibility studies in project appraisal, sensitivity analysis and maintaining consistency between real and nominal prices, inflation rates, exchange rates and interest rates. It will also cover how to determine the optimal scale and timing of investments and how to construct income statements and balance sheets from cash flow projections.
COST ACCOUNTING
Course code
ACFN503Credit
3Theoretical
3Practical
0Ects
6
In this course, the development, interpretation, and use of relevant cost behavior, control, and tractability concepts for management planning, controlling and decision making are emphasized. This course focuses on corporate decision-making skills for managers by concentrating on the concepts and practices of managerial accounting. The emphasis is on building a general framework for choosing among alternative cost systems for operational control and product cost and profitability measurement. The course covers recent conceptual and analytical developments in the area of management accounting, including study of modern and relevant planning, control techniques and their underlying concepts as applied to various functional areas within the firm, and performance evaluation
INTERNATIONAL FINANCIAL REPORTING STANDARDS
Course code
ACFN507Credit
3Theoretical
3Practical
0Ects
6
This course will provide basic knowledge regarding the international financial reporting standards. Each standard and the concepts within the standards will be analyzed in a detailed way. Students will have the ability to analyze the uniformity of reporting from the international perspectives. Which is describing the organizational structure of the key in setting IFRSs, describe the purpose of a conceptual framework-who uses it and why, explain the qualitative characteristics that make information in financial statement useful, discuss the going concern assumption underlying the preparation of financial statements, define the basic elements in financial statement-assets, liabilities, equity, income, and expenses, distinguish between alternative bases for measuring the element of financial statements, and outline concepts of capital
RESEARCH METHODS
Course code
SOSC501Credit
3Theoretical
3Practical
0Ects
8
Students learn the scientific methods and techniques and develop their competence to evaluate research and prepare research projects. The basis of scientific research, scientific method, quantitative and qualitative research, problem statement, literature review, hypothesis, assumption, limitations, definitions, sampling methods, data collection (validity, reliability, item analysis, questionnaire development procedures, observation, interview), quantitative research methods (descriptive studies, correlational research, casual research, experimental research, single-case studies, meta-analysis), qualitative research (content analysis, case studies, action research, narrative research), reporting (organizing a scientific writing, parts of a scientific writing, general writing rules, showing the source in the text, preparing the list of resources). Students make scientific research about a subject that is related to their fields.
INTERNATIONAL FINANCIAL MARKETS
Course code
ACFN512Credit
3Theoretical
3Practical
0Ects
6
This course develops the principles of international finance to gain an understanding of exchange rate dynamics, international financial flows, and recent events in both developed and emerging economies. The main topics are exchange rates, interest rates, and the derivatives (contingent claims). On successful completion of this course, all students will have developed knowledge and understanding on: options markets, options Valuation, Future markets, Bond prices and Yields, Managing Bond. Monetary Authorities, Risk in investing Mortgages and Financial crises,Equity markets, Commercial banking ,Regulation of banks. Monetary Policy , Money Markets, Capital Markets, Supply and Demand for loanable funds and exchange rates, interest rates, and the derivatives (contingent claims).
INTERNATIONAL ECONOMICS
Course code
BUSN553Credit
3Theoretical
3Practical
0Ects
AUDITING AND ASSURANCE SERVICES
Course code
ACFN509Credit
3Theoretical
3Practical
0Ects
6
The aim of this course is to provide students with knowledge of basic auditing concepts, and teach them the requirements of an audit and assurance system. International auditing standards and the audit procedures will also be analyzed. This course will also provide the detailed knowledge regarding the audit cycle needed to perform a basic accounting audit. On successful completion of this course, all students will have developed knowledge and understanding of: An Introduction to assurance and financial statement auditing, The financial statement auditing environment, Audit planning, types of audit tests and materiality, Risk assessment, Evidence and documentation, Internal control in a financial statement audit, Auditing internal control over financial reporting and Audit sampling e.t.c..
INVESTMENTS MANAGEMENT
Course code
ACFN514Credit
3Theoretical
3Practical
0Ects
6
Develops an understanding of the models and concepts of profitable investing, relying on theoretical development and consideration of observed pricing, market, and participant behavior. Examines the markets through which investment funds are channeled and the motivations of the investing and borrowing communities.On successful completion of this course, all students will have developed knowledge and understanding on: how securities are Traded, Mutual funds and other investment companies, Global Financial Instruments, Efficient Diversification, The efficient market hypothesis, Intentional investing, Taxes. Inflation, and investment Strategies, Investors and the investment process, Behavioral Finance and Technical analysis. Examines the markets through which investment funds are channeled and the motivations of the investing and borrowing communities.
BUSINESS FINANCE
Course code
ACFN203Credit
0Theoretical
0Practical
0Ects
6
The material covered in this course can be summed up as a “Guide Book for New entrepreneurs”. It has seven basic objectives: to introduce the business environment as an important factor in the birth and survival of new businesses, to emphasize the importance of the business idea, to familiarize the student with the sources of initial capital, to review the basic financial tables and tools, to have the student draw up and write his own realistic business plan, and to acquaint the student with the procedures linking businesses with banks and other institutions of the financial markets, help to prepare students with a conceptual frame work for understanding and analyzing decision took by management.
INVESTMENT MANAGEMENT
Course code
INBA513Credit
3Theoretical
3Practical
0Ects
Develops an understanding of the models and concepts of profitable investing, relying on theoretical development and consideration of observed pricing, market, and participant behavior. Examines the markets through which investment funds are channeled and the motivations of the investing and borrowing communities.On successful completion of this course, all students will have developed knowledge and understanding on: how secutires are Traded, Mutual funds and other invesment companies, Global Financial Instruments, Eifficent Diversification, The efficent market hypothesis, Interntional investing, Taxes. Inflation, and invesment Stratages, Investores and the investment process, Behavioral Fianance and Technical analysis. Examines the markets through which investment funds are channeled and the motivations of the investing and borrowing communities.
FINANCIAL MANAGEMENTS
Course code
ACFN516Credit
3Theoretical
3Practical
0Ects
6
Solving issues relating to financial management has become a big problem in our contemporary world for financial managers. To make a difference, this course is purposefully designed to facilitate students’ ability to synthesize and incorporate presented tools into flexible model for curtailing the long existing problem of financial managers. On successful completion of this course, all students will have developed knowledge and understanding of: Project Analysis and Evaluation, Some Lessons from Capital Market History, Return, Risk and the Security Market Line, Cost of Capital, Raising Capital, Financial Leverage and Capital Structure Policy, Dividends and Dividend Policy, Short Term Finance and Planning, Cash and Liquidity Management and Credit and Inventory Management.
FINANCIAL MANAGEMENT
Course code
ACFN204Credit
0Theoretical
0Practical
0Ects
6
This is a two pronged course. The first part covers analyses of the time value of money. This part includes illustrations with specific reference to current cases regarding the management of cash. The second part deals with the procedures and instruments that prevail in the relationship between the firm and money and capital markets. Particular attention is devoted to the stock exchange including regulations pertaining to initial public offerings and listings. Also, this course will give the students detailed information about capital budgeting, capital market line, security market line, risk and return, cost of capital, financial leverage and capital structure policy (i.e. long-term financial policy) and short-term financial planning.
FINANCIAL MARKETS AND INSTITUTIONS
Course code
ACFN310Credit
0Theoretical
0Practical
0Ects
5
.
ACCOUNTING I
Course code
ACFN211Credit
0Theoretical
0Practical
0Ects
6
This course is an introduction to the financial statement which contains theory, practice and application of accounting principles. The objective of this course is to achieve a strong foundation of accounting principle and to ensure the students understand the process of classifying, reporting, evaluating and interpreting financial information. Accounting helps students build a foundation upon which they’ll continue to learn and grow in their study. By the completion of the course the students should be able to do the following: 1-Identify the steps in accounting cycle, 2- Interpret and record the business transactions, 3-Classify the similar transactions into useful reports, 4- Summarize and communicate information to decision makers.
ECONOMETRICS
Course code
ECON503Credit
3Theoretical
3Practical
0Ects
COMPUTER VISION
Course code
ISYE537Credit
3Theoretical
3Practical
0Ects
Image formation. Early processing: low-level vision and feature extraction. Boundary detection. Region growing. Texture. Motion. Two-dimensional and three-dimensional representation. High-level vision: learning and matching.
RESEARCH METHODS
Course code
EMNT525Credit
3Theoretical
3Practical
0Ects
0
This course is designed to be a background pass to graduate studies. The ability to formulate a research question, finding the data relevant to research questions, analyze those data, and presentation of research findings are skills that will be acquired through this course. Scientific thinking skills and methods of research, using library and online archives, experimental design, and presenting quantitative data are modules covered within the scope of this course. Scientific communication, writing research proposals, scientific reporting and thesis writing are also supported. Conference presentations, time management in research projects, ethical issues, plagiarism and skills of working in a group and networking are also highlighted throughout the semester.
ADVANCED MACROECONOMIC THEORY
Course code
ECON502Credit
3Theoretical
3Practical
0Ects
FINANCIAL MANAGEMENT FOR BANKS
Course code
INBA504Credit
3Theoretical
3Practical
0Ects
The course aims to provide you with the knowledge and understanding required for managing the financial aspects of a bank’s business. By studying the management of a bank’s assets and liabilities, will develops a good understanding of the nature of the business of banking. It will develop some of the financial techniques introduced in the core finance classes to consider the decisions and policies of banks. It contributes to the course aims of using financial theory and analysis in understanding the operations of banks. This course provides with an understanding and appreciation of the various financial management techniques used by banks, modern corporate strategy, the portfolıo rısks of bankıng and theır management, bank ınvestment, managıng the bank lendıng functıon, bank capıtal theory management and regulatıon and fınancıal ınnovatıon ınformatıon technology and corporate.
ACCOUNTING-II
Course code
ACFN212Credit
0Theoretical
0Practical
0Ects
6
Students will develop advanced skills that build upon those acquired in Accounting I. Additional accounting skills such as reconciling uncollectible accounts, calculating depreciation on assets, interpreting financial information, and calculating notes and interest will be developed. Computerized accounting will again be incorporated as an essential tool where resources are available. On successful completion of this course, all students will have developed knowledge on how to prepare a bank reconciliation, record merchandising activities in perpetual and periodic inventory systems, account for uncollected receivables, account for marketable securities, calculate depreciation for tangible fixed assets using different depreciation methods, account for short-term and long-term liabilities and stockholder’s equity.
MONEY AND BANKING
Course code
BUSN433Credit
0Theoretical
0Practical
0Ects
INTERNATIONAL FINANCIAL REPORTING STANDARDS
Course code
ACFN345Credit
0Theoretical
0Practical
0Ects
6
INTERNATIONAL FINANCIAL REPORTING STANDARDS
Students who are interested in pursuing advanced graduate studies leading to a master’s, doctoral degree, or professional doctorate degree for the Fall and Spring semesters every year. Applicants can directly apply online to our graduate programs using the application portal.
TRNC Applicants- Required documents:
- Bachelor’s Degree Diploma
- Bachelor’s Degree transcripts for each completed academic term/year.
- Documents to prove English proficiency for English language departments,
- Scanned copy of passport or identity card.
Click for detailed admission requirements information.
Students who are interested in pursuing advanced graduate studies leading to a master’s, doctoral degree, or professional doctorate degree for the Fall and Spring semesters every year. Applicants can directly apply online to our graduate programs using the application portal.
International Applicants- Required documents:
- Bachelor’s Degree Diploma
- Bachelor’s Degree transcripts for each completed academic term/year.
- Evidence of English Language competence: TOEFL (65 IBT) or IELTS (5.5). Students without these documents will take the CIU English proficiency exam on campus following arrival.
- Scanned copy of international passport/birth certificate
- CV
- Fully completed and signed CIU Rules and Regulations document (which can be downloaded during the online application)
Click for detailed admission requirements information.
Cyprus International University provides academic scholarships for its students as an incentive for success, with most students benefiting from 50%, 75% or 100% scholarships or discounted tuition fees. Click for more information.
Tuition Fees are determined at the beginning of each academic year. Candidate students who are entitled to enroll in CIU can learn their fees in line with the Tuition Fee Calculation system.