Cass Business School - Fall 2005

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Cass Business School - Fall 2005

  1. 1. STUDENT REPORT- CASS Business School, Fall 2005 Students on exchange: - Galina Rogova (MSc in Financial Economics) - E-mail: galina.rogova@student.bi.no - Magnus Kvinge (Master in Business and Economics) - E-mail: magnus@kvinge.com - Razvan Lungeanu (MSc in Management) - E-mail: razvan.lungeanu@student.bi.no Study abroad programme: http://www.cass.city.ac.uk/undergrad/studyabroad/index.html Web site for the MSc programme: http://www.cass.city.ac.uk/masters/index.html General Information on the School *Describe the school and its surroundings – very short CASS Business School is situated close to Moorgate and Liverpool Street underground stations on the edge of the City, the financial district in London. The main campus (City University) is situated a 10-15 minutes walk from the business school, where the exchange students from BI have all their lectures. The Business School is relatively new (opened in 2003) and the facilities are very good. However, the facilities at the main campus are relatively poor. *Current faculty divisions and special areas. Faculty of Finance  Financial Markets  Regulation and Finance  Money and Banking  Investment and Risk Management  Econometric Analysis  Shipping and Transportation  Real Estate Finance Faculty of Management  Strategy  Innovation and Entrepreneurship  Human Resource Management  Governance and Pay  E-Business  Knowledge Management  Professional Services  Voluntary Sector Management  Marketing and Innovation in Services  International Business Faculty of Actuarial Science  Pensions  Social insurance  Life insurance  General insurance  Health insurance and long term care  Mortality and morbidity  Reliability, Maintenance and related topics  Dependability of Computer Based Systems Page 1 of 8
  2. 2. *Number of students - graduate and undergraduate – number of exchange students At the business school there are currently 1800 graduate students, no undergraduate students and six exchange students (the three of us from BI and three from a German university). *Is the school a typical graduate or undergraduate institution? CASS Business School is a graduate institution. The business school has MSc-, MBA- and Executive education programmes. CASS Business School is currently ranked as the number 6 business school in Europe on graduate level studies (Financial Times). CASS is the only one out of the top six business schools to offer a MSc programme. *Study structure on the graduate level The MSc programme is a one year study. The induction courses start in mid-September and the dissertation deadline is August 31st the following year. The students take 210 credits (105 ECTS) over the year. Thus, the programme is quite intensive and the workload for the full time students is relatively heavy. The teaching is distributed over three terms. The MSc students write their dissertation over the summer. Exchange students from BI are at CASS in term 1, which runs from mid-September to mid-December. The exams in Term 1 are in January, but exchange students from BI do not sit exams. The Teaching situation *In which language are the courses taught? Any problems? The courses are of course taught in English. No problems. *How would you evaluate the level of study in relationship to the level at BI? The level of study will depend on which MSc course you choose to take courses from and on the students in your class. Therefore, it is hard to compare the level of teaching to BI. The level of teaching is generally of very high quality, but not all students have a finance background. *Is the teaching primarily practical or theoretical? The teaching is primarily practical, which is very good. *Are the professors using cases, group work or lectures (or a mix)? The professors are using a mixture of the methods mentioned above. *How is the workload compared to that at BI? The workload for exchange students is similar to the workload at BI. *How is the relationship between faculty and students? We presume that it is good. We have had very little contact with the faculties. *What is the relationship between the students in the classroom? The level of noise in class is much higher than at BI. When the Greeks and the Chinese people start talking it is like a henhouse in the auditorium. The breaks are much longer here (can be up to 30-40 minutes) in a 3-hour lecture. And another thing, when the lecture is scheduled to start at 9.00, it may not start until 15 minutes past. Required Literature *Is the literature in English or local language? The literature is in English, and it is similar to the literature at BI. Page 2 of 8
  3. 3. *How do you estimate the level of the literature? High. The literature is similar to what is used at BI. *Is the literature used for detailed knowledge or a broad overview? It depends on the course and the different professors. But as the business school is very practically oriented in general, the literature is primarily used as background material to the lecture notes in order to better understand what is happening in the real world of finance. *Is exam based on the literature or on the lectures? Students from BI do not sit exams, but we would presume that the exams are based on a mixture, just like at BI. Exams *What types of exams were you given? Exchange students from BI do not sit exams. We are assessed on a coursework only basis. *What knowledge level was required to pass the exams? We would presume that it is the same level as at BI. Description of Courses: Galina (NSM BI -MSc in Financial Economics): SMM505 Derivative Securities (MSc in Investment Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Test in the final week Approved as: GRA6535 Derivatives SMM513 Econometric Methods in Investment Analysis (MSc in Investment Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Course work. Approved as: GRA6530 Financial Econometrics SMM516 Fixed Income Securities (MSc in Investment Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Test in the final week Approved as: GRA 6539 Fixed Income Securities SMMxxx Theory of Risk and Insurance Markets (MSc in Insurance and Risk Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Term paper Approved as: Common course Magnus (NSM BI - Master in Business and Economics): SMM102 Introduction to Financial Econometrics (MSc in Banking and International Finance) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Term paper Approved as: GRA6530 Financial Econometrics (Specialisation course) NB! Enrolment problems Page 3 of 8
  4. 4. SMM110 Corporate Finance & Investments (MSc in Banking and International Finance) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Term paper Approved as: GRA6535 Investments (Specialisation course) NB! Enrolment problems SMM111Derivatives and Financial Engineering (MSc in Banking and International Finance) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Course work Approved as: GRA6532 Intro to Derivatives and Risk Management (Specialisation course) NB! Enrolment problems SMM516 Fixed Income Securities (MSc in Investment Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Test in the final week Approved as: GRA 6539 Fixed Income Securities (Specialisation course) Razvan (NSM BI - MSc in Management): SMM501 Portfolio Theory (MSc in Investment Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Term paper Approved as: GRA6531 Portfolio Management SMM505 Derivative Securities (MSc in Investment Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Test in the final week Approved as: GRA6535 Derivatives SMM513 Econometric Methods in Investment Analysis (MSc in Investment Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Course work. Approved as: GRA6530 Financial Econometrics SMM516 Security Analysis (MSc in Investment Management) Credits: 15 (equivalent to 7,5 ECTS) Assessment: Term paper Approved as: Common course The courses are in general (much) more practically oriented than at NSM BI, however the level of difficulty is about the same. You may experience some enrolment problems in the beginning, but talk to the International Office administration (both at CASS and at NSM BI), and they might work out for you. How is the library? *Do students have easy access to the library and it’s resources? Yes, it is the same system as at BI. The only difference is that you will have to set-up an “Athens account” which will give you to access library’s resources via the Internet. Page 4 of 8
  5. 5. *How is the computer access? The same as at BI. You are given a user name and password with which you may access all the computers in the library area. *How is IT used in the teaching or as information distributor? It is not very much used. You are either given a booklet with all lecture notes in the first lecture or you receive the notes in the relevant lecture. However, CASS has a system similar to Blackboard (Web-CT). Here you may find information about courses, lecture slides and important messages. But this system is not used as frequently by the professors as at BI. Information before you went *When did you receive the information package from the University? The information is received within one month starting the date your application is sent to CASS. You may choose to receive it in Norway or in your home country. If you are an international student it is probably better to specify that you would like to receive it in your home country. *Any difficulties? No difficulties. Visa Procedure and travel experiences *Do you have any particular advice for prospective students? Visa for students is not a problem. *What problems, if any did you encounter? None. *How did you order your ticket – any problems? Travel agent (Razwan) or online (Magnus and Galina). No problems. Academic Calendar *Arrival date – introductory week 14th of September – arrival date. There are two introductory weeks (started 19th September) in which you either have induction courses or just spend time to get to know London and take part in the five or six different events that CASS organises for exchange students. *First day of the semester? Monday 3rd of October *Last day of classes? Friday 9th of December *Examination period? 2nd- 13thof January, but BI exchange students will not sit for the exams. *Any special events? No. Page 5 of 8
  6. 6. Reception *What type of reception did you receive at the school? There were five or six events for exchange students in order to learn about facilities, etc. But these are primarily for undergraduate students who will study at the main campus. *Was the administration and faculty well prepared for your arrival? It can be discussed. Chriselia de Vries is the Study Abroad Officer. She was relatively well prepared to deal with any possible problems. But the administration at the business school was not prepared at all, and that created several problems. *Did the school’s students participate in the reception of the exchange students? No. Housing * Did you have housing at your disposal or did you have to find your own housing? CASS does not provide housing. You will have to find a place on your own. The housing situation in London is quite difficult and it is better to look for accommodation in advance, i.e. prior to your arrival in London. * What support did you receive from the school in locating housing? No support, we were just given the names of some websites. * Any special issues or good ideas for prospective students? You should start looking for accommodation in advance. Although the price for one room in the centre of London is higher than in the other zones (6 zones in total), the higher rent will be covered in by what you save in transportation costs. Hence, it is better to look for accommodation in close proximity to CASS. The average time to spent travelling to CASS from; let’s say Zone 3 is between 30 minutes and 1 hour, so there is also a time (and comfort) issue. The best way to look for accommodation is through Internet. Use www.gumtree.co.uk for short- time accommodation. Other websites usually work with a 6 months minimum stay. Costs *Describe the most important expenses such as rent, books, food, etc. Rent is quite expensive, ranging from £90 to £200 per week.. Books are c.25% cheaper than in Norway. A bookstore is situated at the main campus. Food is c.30 % cheaper than in Norway. A pint of beer (c.0,57 litres) cost under £3 in a pub. The International Office *Is there an international office? Yes, there is an international office at the University. But as mentioned, very little help is given to exchange students at the business school (close to none). Be prepared to handle all practicalities on your own. Who is responsible for incoming exchange students? Chriselia de Vries. She has her office in the Parkes building at the University. Page 6 of 8
  7. 7. *How is the international office functioning? It is focused on undergraduate students. MSc students receive very little information or help. *Do you receive all relevant information? No. The information flow is terrible. BI is like heaven in comparison. Bluntly said, nobody at CASS really cares about the MSc exchange students. The exchanges are taken very little care of. Social Activities *How are your relationships with other students? Good. *How are the relationships between other exchange students? As we are only six exchange students at the business school (the three of us from BI + three from Germany) there is not really a cluster of exchange students separated from the full time students. We are more integrated with the full time students at the Business School. *Is there a student organization, and what connection does it have with exchange students? There is a student organisation at the University, but at the business school there are only so- called communities (interest groups). There is no connection with the exchange students. . *Are there any special activities and gathering arranged for exchange students? No. *How do you enjoy yourself at the school? The school itself and the teaching is very good, but lack of organization for exchange students and the absence of help from international office sometimes creates obstacles to study and enjoy the school. Culture and Language *Do you have any language problems with the faculty or other students? Not really, but ca 30 % of the students are from South-East Asia and they are, as you may know, not always the most fluent English-speakers. *How are the possibilities to experience the country and the local culture? There are no limits to what you can do in London. There are plenty of opportunities to travel and experience the country. Paris is also only 2,5 hours away. NB! There is culture in every pub. Cultural and Social Effects from the Exchange Experience *How do you think the exchange experience will affect you from a cultural and social viewpoint? Positive. Spending a semester in London is time well spent. *How do you think the exchange experience influence your future career possibilities? CASS Business School and London is a very good choice if you are interested in working for an investment bank or similar in the City of London (or in the Nordic region). The teaching and the school in itself is very practically oriented, which might be very positive for your career prospects. There are Bloomberg and Reuters terminals available for students at the business school, so you can stay up to date with what is happening in the exciting world of finance. Page 7 of 8
  8. 8. Any additional experiences you would like other students to know about? One piece of advice: Try to get accommodation as close to the school as possible. Taking the tube during the peak hours in the morning is not a pleasant experience. You should also start looking for accommodation in advance. And as mentioned: Although the price for one room in the centre (zone 1 or 2) of London is higher than in the other zones, the higher rent will be makeup for the savings in transportation costs. In the MSc in Investment Management programme all lectures are in the evening (18.15-21) to facilitate participation from part-time students. This means that you may have lectures on Friday evenings. If you have any questions regarding CASS Business School or London in general, please do not hesitate to contact one of us. London, November 27th 2005. Galina Rogova Magnus Kvinge Razvan Lungeanu Page 8 of 8

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