FEFA - FORDHAM

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Beogradski Fakultet za ekonomiju, finansije i administraciju (FEFA) i Univerzitet Fordam u Njujorku (SAD) uspostavili su saradnju u oblasti master programa iz finansija.

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FEFA - FORDHAM

  1. 1.             The  Master  of  Science  in  Global  Finance  (MSGF)  program  is  a  joint  program  offered  by   Fordham  University’s  Graduate  School  of  Business  and     the  Faculty  of  Economics,  Finance,  and  Administration  (FEFA).      To   obtain   a   Master   of   Science   in   Global   Finance   granted   by   Fordham   University,   New  York,  candidates  need  to:    -­‐   complete   four   (4)   prerequisite   courses   at   FEFA   (or   pass   equivalent   examinations  administered  by  FEFA);    -­‐  complete  additional  six  (6)  courses  delivered  based  on  Fordham  curriculum;  three  (3)  of  these  courses  are  taught  in  Spring  semester  on  FEFA  campus  and  three  (3)  are  taught  on   Fordham   campus   during   intensive   Summer   semester   (month   of   July)   in   New   York  City.      U.S.   News   and   World   Report   of   Best   Graduate   Schools   Ranks   Fordham   Graduate  Business  School  #16  in  Finance,  #21  in  Management  and  #23  in  Marketing.    The   program   enables   FEFA   graduate   students   (and   alumni)   who   have   completed   the  prerequisite   courses   to   obtain   MSGF   degree   in   addition   to   FEFA   Master   in   Management  degree   by   completing   additional   six   (6)   courses.   Note   that   FEFA   also   accepts   transfer  students   to   its   second   year   of   masters   program   provided   that   they   have   completed   a  four-­‐year   accredited   undergraduate   program   in   Economics   or   Management   (other  programs  will  also  be  considered  based  on  course  structure).  These  students  also  need  to  pass  all  the  prerequisite  four  (4)  courses  for  the  MSGF  program.    MSGF  students  gain:   § A  solid  theoretical  foundation  in  all  major  functional  areas  of  finance   § Ability  to  analyze  complex,  globally  traded  equity  and  fixed  income  securities   § Understanding   of   innovative   financing   instruments   for   growth   industries   in   emerging  economies   § Risk  management  and  portfolio  strategies  for  todays  global  investors   § A  competitive  edge  and  enhanced  career  opportunities  in  the  global  job  market   § Access   to   New   York   City,   the   worlds   leading   business   hub,   through   one   of   its   leading  universities   § Membership   in   a   network   of   more   than   150,000   Fordham   University   alumni   worldwide    
  2. 2. The   total   tuition   for   the   6   Fordham   courses   is   based   on   Fordham’s   price/credit   and  currently  totals  $21,582  (€16,700).    Partial  scholarships  are  available  and  preference  will  be  given  to  students  with  high  GMAT  score.  FEFA  tuition  will  be  charged  based  on  the  number   of   courses   taken   at   FEFA   as   prerequisites   for   Fordham   MSGF   program   and/or  FEFA  Master  of  Management  program.    Applications  for  admission  to  the  program  (including  professional  CV,  500  words  letter  explaining   why   you   wish   to   complete   the   program,   two   letters   of   recommendation,   and  GMAT   score),   are   to   be   submitted   to   FEFA   student   services   in   person   or   by   mail)   by  March  1,  2013.  Selected  candidates  will  be  interviewed  for  final  selection.    Applications  for  scholarships  (including  professional  CV,  500  words  letter  explaining  why  you   wish   to   complete   the   program,   two   letters   of   recommendation   and   why   you   are  applying  for  the  scholarship,  and  GMAT  score)  will  be  accepted  by  January  31,  2013.  For  any  questions  please  write  to  fordham@fefa.edu.rs    The  details  of  the  academic  part  of  the  program  are  as  follows:    1. Course  Schedules  The  MSGF  program  requires  a  total  of  thirty  (30)  credits  over  ten  (10)  courses.    The  first  twelve  (12)  credits  are  from  the  FEFA  program  at  Belgrade  and  will  be  accepted  as  transfer  credits  by  Fordham  University.    - These   transfer   credits   are   comprised   of   four   (4)   designated   core   courses:   Managerial   Economics   (cross-­‐registered   at   FEFA   as   Microeconomics   of   Competitiveness),   Financial   Statement   Analysis,   Principles   of   Modern   Finance   (cross-­‐registered  at  FEFA  as  Corporate   Finance),  and  Financial  Modeling  (cross-­‐ registered   at   FEFA   as   Investment   Decisions).   These   four   FEFA   courses   are   foundational   courses   and   are   pre-­‐requisites   for   the   following   six   (6)   Fordham   courses  in  the  MSGF  program.  Students  need  to  earn  a  minimum  of  B  average  in   the   four   courses   (8/10   in   Serbian   higher   education   system)   for   the   courses   to   be   eligible  to  be  transferred.  Eighteen  (18)  credits  will  be  offered  by  Fordham  University,  which  translates  to  six  (6)  courses.       Courses   Time  (Tentative)   Faculty   Global  Financial  Markets     April  2013   FEFA/Fordham   Raising  Capital  and  Investing  in  Global  Financial   April  2013   FEFA/Fordham   Markets   Contemporary  issues  in  Global  Finance   May  2013   FEFA/Fordham   Global  Corporate  Governance   7/15-­‐7/20   Fordham   Global  Equity  Portfolio  Management   7/22-­‐7/27   Fordham   Global  Risk  Management   7/29-­‐8/2   Fordham   Graduation  Ceremony   8/3   New  York  City     2  
  3. 3. All  courses  will  consist  of  a  total  of  thirty  (30)  hours  classroom  time.    The  three  Fordham  courses  offerings  in  Belgrade  will  be  offered  on  weekends  and/or  in  an  intensive  week  format.    The  three  courses  in  the  US  are  offered  from  Monday  to  Thursday  during  the  week,  with  seven  hours  of  lectures  in  each  day.      The  courses  taught  in  New  York  (NY)  will  include  company  visits  as  part  of  the  classroom  time.      Tentatively,  we  are  planning  for  two  (2)  1-­‐hour  company  visits.    Company  visits  will  take  place  on  Fridays.    Students   will   graduate   after   they   have   satisfactorily   completion   the   program   of   study  and  met  all  graduation  requirements.    Upon  graduation,  students  will  receive  Fordham’s  Master  of  Science  in  Global  Finance  (MSGF)  degree.    2. Course  outlines  GFGB  7001  Global  Financial  Markets:  This  course  provides  a  comprehensive  overview  to  the  workings  of  the  global  financial  markets,   the   functions   and   goals   of   the   key   financial   institutions,   and   the   role   played   by  central   banks   and   regulatory   agencies.   It   will   cover   international   money   markets,  international   equity   markets,   the   foreign   exchange   market,   forward   markets   for  commodities  and  financial  instruments,  bond  markets  and  derivative  markets.  GFGB  7002  Contemporary  Issues  in  Global  Finance:  This   course   explores   current   issues   relevant   to   the   global   financial   system,   including  international   commercial   and   investment   banking   and   international   investments.  Emphasizes   the   underlying   conditions   and   fundamental   trends   in   various   sectors   of  international  finance.  GFGB  7007  Raising  Capital  and  Investing  in  Global  Financial  Markets:  The   course   discusses   the   strategies   in   the   going   public   decision   and   the   process   of  securities   issues.   Discusses   the   strategies   and   process   of   corporate   restructuring   and  investing  decisions  such  as  mergers  and  acquisitions,  corporate  diversification,  spin-­‐offs,  carve-­‐outs,  asset  sell-­‐offs,  tracking  stock,  exchange  offers,  and  debt  restructuring.    GFGB  7004  Global  Equity  Portfolio  Management:  The   course   provides   a   comprehensive   overview   of   equity   portfolio   management   in  theory   and   practice.   Examines   portfolio   objectives   and   link   them   to   appropriate  investment   strategies.   Covers   pricing   of   equities,   the   asset-­‐allocation   decision,   return  enhancement/risk   control   techniques,   performance   evaluation,   as   well   as   the   recent  changes  in  international  fund  management.  Analyzes  international  investment  strategy  and  the  relative  merits  of  various  approaches.     3  
  4. 4. GFGB  7005  Global  Corporate  Governance:  This   course   examines   how   modern   publicly   traded   corporations   are   governed   in   the  global   markets.   Discusses   the   roles   of   the   board   of   directors,   corporate   management,  institutional   investors,   and   the   other   shareholders.   Discusses   the   effects   of   the   recent  legislation   and   the   financial   market   development   on   corporate   governance.   Provides  international  comparisons  of  corporate  governance  structures  and  the  issues  arising  in  contests  for  corporate  control.  GFGB  7006  Global  Risk  Management:  This   course   covers   market   risk   and   volatility,   calculation   of   VaR   (Value   at   Risk),   Monte  Carlo  Simulation,  credit  risk  and  use  of  credit  derivatives,  operational  risk,  counterparty  risk,  and  other  topics.  Discusses  risk  regulations,  including  Basel  II,  recent  developments  in  Basel  III,  and  recent  regulations  on  the  banking  industry  in  the  US.      3. Professor  Biographies:    FACULTY  OF  ECONOMICS,  FINANCE  AND  ADMINISTRATION  -­‐  FEFA:    Professor  Katarina  Djulic  Dr  Djulic  is  Assistant  Professor  at  FEFA  and  Senior  Advisor  at  KPMG,  Serbia.  She  holds  a  Bachelor   of   Law   from   the   University   of   Belgrade,   a   Master   of   Law   (LL.M.)   from  Northwestern  University,  a  Master  in  Public  Policy  from  Harvard  University  JFK  School  of  Government,   and   a   PhD   degree   from   the   University   of   Belgrade   Faculty   of   Economics.  Prior   to   KPMG,   Dr   Djulic   served   as   Associate   Operations   Officer   at   the   International  Finance   Corporation,   World   Bank   Group,   working   on   the   Corporate   Governance  Program.   She   also   worked   as   a   legal   adviser   to   firms   in   Belgrade   and   New   York   and  afterwards  at  the  Ministry  of  Finance,  first  as  an  adviser  to  the  Minister  and  then  as  an  Assistant   Minister   in   charge   of   the   Financial   System   Division.   She   also   worked   for   the  European   Bank   for   Reconstruction   and   Development   in   London   in   Office   of   General  Council.  Dr  Djulic  was  a  member  of  Board  of  Directors  in  DDOR,  Novi  Sad,  a  member  of  Supervisory  Board  in  Jubanka,  Beograd  and  Chairwoman  of  Supervisory  Board  in  Central  Securities  Depositary  and  Clearing  House,  Republic  of  Serbia.    Professor  Milan  Nedeljkovic  Milan  Nedeljkovic,  Ph.D.  is  Assistant  Professor  at  FEFA.  He  holds  BSc  from  University  of  Belgrade,  MSc  from  University  of  Essex,  United  Kingdom  and  PhD  in  Econometrics  from  University   of   Warwick,   UK.   His   fields   of   interest   include   theoretical   and   applied  econometrics   with   applications   in   finance   and   macroeconomics.   He   has   published   three  papers  in  peer-­‐reviewed  journals  including  Journal  of  International  Money  and  Finance  and   presented   his   research   in   several   conferences.   His   work   experience   includes:  Advisor  to  the  Vice  Governor,  then  Governor  at  the  National  Bank  of  Serbia,  Belgrade,  2010;  Winter  Internship  at  the  European  Department  of  International  Monetary  Fund,  Washington   DC,   2008;   Research   Associate   at   the   Barclays   Global   Investors/General     4  
  5. 5. Market   Strategies   Group/Currency   Research,   London,   2006-­‐2007;   Bank   privatization  advisor   for   the   Ministry   of   Finance,   Bank   Rehabilitation   Agency,   Belgrade,   2005.   He   is  currently  the  Lead  Research  Economist  at  the  National  Bank  of  Serbia,  Belgrade.    Professor  Goran  Pitić  Dr   Pitić   is   a   Professor   of   Macroeconomics   and   Council   President   of   the   Faculty   of  Economics,   Finance   and   Administration   (FEFA).   He   also   serves   as   President   of   the   Board  of   Directors   of   Societe   Generale   Serbia,   and   is   a   Member   of   the   Board   of   Metalac  Holding  Gornji  Milanovac.  Dr  Pitić  holds  a  PhD  from  the  Faculty  of  Economics,  Belgrade  University  and  two  MA  degrees  –  from  the  Belgrade  Faculty  of  Economics,  and  from  the  University   of   Toronto,   Department   of   Economics.   He   specialized   in   Economics  (postgraduate   program   in   Quantitative   Development   Economics)   at   the   University   of  Warwick,   Great   Britain   in   1991/92.   He   also   received   advanced   training   at   the   London  School   of   Economics,   and   participated   in   a   number   of   specialized   programs   at  universities  in  France  and  USA,  as  well  as  financial  market  institutes.  From  October  2000  to   March   2004,   he   held   the   position   of   the   Minister   of   International   Economic   Relations  in  the  first  democratic  Government  of  the  Republic  of  Serbia.  He  is  Vice-­‐President  of  the  Foreign   Investment   Council   in   Serbia   and   Member   of   the   Presidency   of   the   Serbian  Economists  Association,  member  of  the  Association  of  Corporate  Directors  and  Member  of   the   Board   of   Directors   of   the   Serbian   Banking   Association.   He   has   co-­‐authored   five  books,   and   published   many   articles.   Dr   Pitić   speaks   three   foreign   languages   (English,  French  and  Spanish)  in  addition  to  native  Serbian  language.    FORDHAM  UNIVERSITY  GRADUATE  SCHOOL  OF  BUSINESS:    Prof.  Christopher  R.  Blake  Professor   Blake   holds   the   Joseph   Keating,   S.J.,   Distinguished   Professor   chair   at   Fordham  Universitys  Graduate  School  of  Business  Administration  and  Gabelli  School  of  Business  in  New  York  City.  He  joined  the  Fordham  faculty  in  1991.  Dr.  Blake  has  published  articles  in   The   European   Finance   Review,   The   Journal   of   Banking   and   Finance,   The   Journal   of  Business,   The   Journal   of   Finance,   The   Journal   of   Financial   and   Quantitative   Analysis,   The  Journal   of   Financial   Intermediation,   The   Journal   of   Public   Economics,   The   Review   of  Economics  and  Statistics  and  The  Review  of  Financial  Studies.  He  is  a  co-­‐developer  of  The  Investment   Portfolio,   Windows-­‐based   portfolio-­‐management   software,   and   he   has  consulted   in   the   areas   of   investments   and   portfolio   management   with   major   financial  and   governmental   institutions.   He   has   also   served   on   the   program   committees   of   the  European   Finance   Association,   the   Financial   Management   Association   and   the  Portuguese  Finance  Network.  Prof.  Sris  Chatterjee    Prof.  Chatterjee  is  a  Professor  in  the  Finance  and  Business  Economics  Area  at  Fordham  University’s  Schools  of  Business  and  Associate  Dean  of  Graduate  Business  Education.  He  has   taught   a   variety   of   courses   including   Mergers   and   Acquisitions,   Principles   of   Modern  Finance   and   Behavioral   Finance   for   MBAs,   executive   MBAs,   and   the   undergraduate     5  
  6. 6. business  students.    He  was  the  1995  recipient  of  the  Gladys  and  Henry  Crown  Award  for  Faculty   Excellence   at   Fordham   GBA.     Prof.   Chatterjee   got   his   undergraduate   degree   in  Mechanical   Engineering   from   the   Indian   Institute   of   Technology   (Kharagpur)   and   his  Postgraduate   Diploma   in   Management   from   the   Indian   Institute   of   Management  (Calcutta).     He   received   his   M.   Phil.   and   Ph.   D.   degrees   from   Columbia   University’s  Graduate   School   of   Business.     Prior   to   joining   Fordham   University,   Prof.   Chatterjee  taught  at  SUNY  (Buffalo),  Rutgers  University  and  Columbia  University.     He  has  taught  in  the   Key   Training   Program   at   UBS   Wealth   Management,   where   he   participated   in  curriculum   development   and   in   writing   training   material.   He   has   taught   in   the   executive  MBA  programs  at  other  schools.    Prof.  Chatterjee’s  main  research  interest  is  in  Corporate  Finance.    His  publications  in  the  Journal  of  Banking  and  Finance,  Journal  of  Financial  Economics,  Financial  Management  and   the   Journal   of   Financial   and   Quantitative   Analysis   include   work   on   corporate  debt/equity   ratio,   effect   of   interest   rate   uncertainty   on   the   valuation   of   subordinated  debt,   restructurings   of   firms   in   financial   distress   and   innovative   securities.   Prof.  Chatterjee   maintains   a   secondary   research   interest   in   Futures   and   Options,   and   has  published  several  papers  in  the  Journal  of  Futures  Markets.       Prof.  Chatterjee  is  on  the  Editorial   Boards   of   the   International   Journal   of   Banking,   Accounting   and   Finance,   and  the  International  Journal  of  Behavioural  Accounting  and  Finance.  Prof.  Ren-­‐raw  Chen  Dr.   Chen   specializes   in   modeling   term   structure   of   interest   rates   and   credit   risks,  automating   pricing   models   for   trading   desks   and   rating   agencies,   deriving   closed   form  solutions,   implementing   lattice   and   Monte   Carlo   simulations,   and   complex  calibrations.     He   has   published   papers   across   major   finance   as   well   as   professional  journals.   He   also   has   implemented   pricing   models   for   financial   companies,   including  credit   derivatives   pricing   models   for   Lehman   Brothers,   structural   default   models   for  Moody’s   KMV,   convertible   bond   and   fixed   income   derivatives   models   for   Grand   Cathy  Securities   Corporation,   and   a   two-­‐factor   HJM   model   for   Polypaths   Software.     Dr.   Chen  received  his  Ph.D.  in  Finance  from  the  University  of  Illinois  at  Urbana-­‐Champaign.  He  has  taught  at  Rutgers,  the  State  University  of  New  Jersey,  University  of  Pittsburgh,  National  Taiwan   University,   and   Hong   Kong   University,   and   worked   at   JP   Morgan,   Lehman  Brothers,   Grand   Cathy   Securities   Corporation,   Moody’s   KMV,   Black   Rock,   and   Morgan  Stanley.  Prof.  N.K.  Chidambaran  Professor   Chidambaran   is   an   Assistant   Professor   of   Finance   at   the   Graduate   School   of  Business  and  Co_director  of  MSGF  Program.     Previously,  he  has  been  on  the  faculty  at  Rutgers  University  and  Tulane  University.       He  received  his  doctorate  from  the  Leonard  N.   Stern   School   of   Business,   New   York   University   and   a   B.Tech.   from   the   Indian   Institute  of  Technology,  Bombay.  Professor  Chidambaran  teaches  courses  in  Corporate  Finance,  Corporate  Governance,  and  Risk  Management.     His  research  interests  are  in  the  field  of  Corporate  Finance  and  Financial  Derivatives.       He  has  published  his  research  in  leading  academic   journals   such   as   the   Journal   of   Financial   Economics,   the   Journal   of   Risk   and     6  
  7. 7. Insurance,  the  Journal  of  Derivatives,  and  the  Financial  Analysts  Journal.       His  work  has  also   been   presented   at   major   research   conferences   and   universities,   and   has   been  published  in  books  and  conference  proceedings.    Prof.  Gautam  Goswami  Prof.  Goswami  is  an  associate  professor  of  Finance  at  the  Graduate  School  of  Business  at  Fordham   University.   He   completed   his   Ph.D.   in   Finance   from   Georgia   State   University.  He  also  has  an  undergraduate  degree  in  Chemical  Engineering  from  the  Indian  Institute  of   Technology   at   Kharagpur   and   post-­‐graduate   diploma   in   management   (majoring   in  Finance   and   Marketing)   from   the   Indian   Institute   of   Management   at   Calcutta.   His  previous   academic   experiences   include   teaching   at   Georgia   State   University.   Prior   to   his  academic   position,   Goswami   worked   in   large   multinational   corporations   like   Dunlop  India   Ltd.,   Chloride   India   Ltd.,   and   Larsen   and   Toubro   Ltd.   in   various   management  positions.     Goswami’s   research   interests   are   mainly   in   the   areas   of   corporate   finance,  international   finance   and   experimental   finance.   He   has   done   research   in   the   areas   of  corporate  debt  maturity  choice,  implication  of  different  auction  mechanisms  as  used  in  the   US   treasury   bill   market,   corporate   use   of   hedging   instruments   like   currency   swaps  and   interest   rate   swaps,   and   self-­‐insurance   in   the   corporate   insurance   market.   He   is  currently   working   on   international   asset   pricing,   modeling   exchange   rate   process,   and  real  estate  auction  methods.  Goswami  has  won  research  awards  and  research  grants  a  number  of  times  and  is  published  in  top  rated  journals  like  Journal  of  Finance,  Review  of  Financial  Studies,  and  Economica.    Prof.  Iftekhar  Hasan  Professor  Hasan  is  the  E.  Gerald  Corrigan  Chair  in  International  Business  and  Finance  at  Fordham  Universitys  Schools  of  Business  and  co-­‐director  of  the  Center  for  Research  in  Contemporary   Finance.   Professor   Hasan   serves   as   the   Scientific   Advisor   at   the   Central  Bank  of  Finland  and  as  the  President  of  the  Eurasia  Business  and  Economics  Society.  He  is   the   Managing   Editor   of   the   Journal   of   Financial   Stability.   Professor   Hasans   research  interests   are   in   the   areas   of   financial   institutions,   corporate   finance,   capital   markets,  and   entrepreneurial   finance.   He   has   been   a   past   or   current   Associate   Editor   for   a  number   of   journals,   including   the   Journal   of   Money,   Credit,   and   Banking,   Journal   of  Banking  and  Finance  and  Journal  of  International  Money  and  Finance.  Professor  Hasan  has   over   225   publications   in   print,   including   12   books   and   edited   volumes,   as   well   as  over   145   peer-­‐reviewed   academic   journal   articles   in   finance   and   economics   journals  such  as  the  JFE,  JFQA,  JB,  JME,  FM,  JFI,  JMCB,  JIMF,  JBF,  EFR,  JAAF,  JBFA,  JMIS,  RP,  and  SMJ.  Professor  Hasan  has  presented  his  research  work  at  over  375  professional  meetings  and  institutions   worldwide,   and   he   has   been   a   consultant   for   numerous   international  organizations,   including   the   World   Bank,   the   IMF,   the   United   Nations,   the   Federal  Reserve   Bank   of   Atlanta,   the   Banque   de   France,   and   the   Italian   Deposit   Insurance  Corporation.   Professor   Hasan   is   a   Research   Fellow   at   the   Berkley   Center   of  Entrepreneurial  Studies  at  the  Stern  School  of  Business  of  New  York  University  and  he     7  
  8. 8. serves   on   the   advisory   board   of   the   Center   for   Financial   Studies   at   the   Rensselaer  Polytechnic  Institute.  He  is  a  Fulbright  (Specialist)  Scholar  and  holds  an  honorary  Ph.D.  from  the  Romanian-­‐American  University  in  Bucharest.  Professor  Hasan  has  held  visiting  faculty  positions  at  several  American  and  European  universities,  including  the  University  of   Rome,   Italy,   the   University   of   Strasbourg,   France,   the   University   of   Carlos   III   in  Madrid,   EPFL   at   Lausanne,   Switzerland,   the   University   of   Limoges,   France,   National  Taiwan   University   at   Taipei,   the   University   of   Romania   at   Bucharest,   and   the   Stern  School  of  Business  in  New  York.  Prof.  An  Yan  Prof.   An   Yan   is   Professor   and   Area   Chair   of   Finance   in   the   Schools   of   Business   of  Fordham   University.     He   also   serves   as   the   Director   of   the   Center   for   Research   in  Contemporary   Finance   in   Fordham   University.  Prof.   Yan   received   his   undergraduate  degree   from   Tsinghua   University,   China,   and   his   Ph.   D.   degrees   from   Boston   College.  Prof.   Yan’s   main   research   interest   is   in   theoretical   and   empirical   corporate   finance,  including   IPOs,   mergers   and   acquisitions,   corporate   restructurings,   and   behavior  corporate  finance.  He  has  published  in  scholarly  journals  such  as  the  Review  of  Financial  Studies,   the   Journal   of   Financial   Economics,   the   Journal   of   Financial   and   Quantitative  Analysis,   the   Journal   of   Banking   and   Finance,   the   Journal   of   Financial   Intermediation,  and  the  Financial  Management.     8  

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