This document contains summaries of 9 courses related to finance: - Fixed Income Securities covers bonds, interest rates, and fixed income derivatives. - Financial Derivatives covers options, futures, forwards, and their valuation and risk management. - Advanced Financial Theory deepens understanding of dividend policy, agency theory, capital structure, efficient markets, and options pricing. - Mathematical Economics applies techniques like differential equations and stochastic processes to economic modeling. - Financial Institutions Management focuses on asset-liability and risk management for banks. - Introduction to Financial Mathematics overview's methods used in finance including interest rates, arbitrage, options, and risk management. - Advanced Financial Mathematics covers bond portfolio immunization, statistical estimators,

1. Fixed Income Securities (FIX)
Course description
This course equips students with the tools required tounderstand theconstruction,the pricing andthe risks of bonds
and fixed income derivatives. The essentialbuilding block for understanding fixed income securities is interest rates.
Interest rates arepaid tothe bond holders in the form of coupons, and interest rates are central tothe present value
concept used for pricing,valuation, andriskmeasurement.Financial institutions alsoissue a range of derivatives with
different types of interest rates as underlying assets.Students of this course learn how touse such derivatives,
including forward rate agreements,interest rate futures, options,andswaps, tomanage the interest rate risk of a
portfolio. They alsolearn how interest rates reflect monetary policy.As fixed incomesecurities involve extensive
materialof quantitative nature,the course includes computer-based exercises and assignments as a complement to
the concepts coveredin lectures.
Financial Derivatives (FID)
Course description
Derivatives,including options, futures andforwards, arefinancialinstruments that can be used for risk management,
speculation,and for arbitrageactivities. This coursecover the cornerstone theory in derivatives valuation and risk
management, anddemonstrates strengths and weaknesses of different models and illustrates and exemplifies how
v aluation models and risk measures are applied in thefinancialindustry.
Contents include:Instrument specifications,market facts and key concepts like the noarbitrageprinciple,Derivatives
pricing in the Binomialmodel,
Stochasticcalculus with application in finance,Derivatives pricing in the Black Scholes,Merton model, Numerical
methods,including Monte Carlo simulation,Risk measures and hedging,
The course consists of lectures,seminars and computer labs. Examination includes a computer based project,a take
home assignment anda finalwritten examination.
Advanced Financial Theory (AFT)
Course description
The course will provide a thorough understanding of mainadvances in the central concepts of
financial theory. The course is designed for those with demonstrated finance skills whowish to
deepen theirknowledge of finance and develop a specialization inone or more sub-disciplines of
finance. The course alsoprovides an appropriate foundation for students intending toproceed tothe
PhD program in Finance.
The course covers thefollowing areas: Dividend Policy,Agency Theory and Corporate Governance,Capit alStructure,
Efficient Capital Markets and Market Microstructure, and Option Pricing Theory.
Mathematical Economics
Description
The course treats ordinary differential equations, calulus of v ariation,Euler equations andgeneralizations in optimal
control,stochastic processes for example the Wiener process, numericalmethods, economicapplications.The
contents of the course may be applied in modelling in for example economy.

2. Financial Institutions Management (FIM)
Course description
The course is designed toprovide students with knowledge and key concepts in the financial
institutions and the banking management with a focusing on the asset liability and riskmanagement.
It is primarily intended for the first years student whostudy the Master programin Banking and Finance.
The course covers thefollowing topics:
- Ov erview of the Financial Institutions andthe financialsystem;
- Financial Infrastructures of the European Central Banks;
- Measuring and Evaluating the performance of Banks;
- Asset-Liability Management: Interest Rate Sensitivity and Duration Gap;
- Hedging with futures and forwards in Asset Liability Management;
- Banking regulations in terms of the deposit insurance and the capitalmanagement.
The course consists of lecturing,assignments, seminars,computer labs, quizand whiteboardexercises.
Introduction to Financial Mathematics
Description
The aim of the course is togivean ov erview over some of the most common mathematicalmethods and models that
are used in the financial sector.There areseveraldifferent kinds of investors in the financialmarket today; not only
companies,banks and other financial institutions but alsomany private investors with money in funds or other
securities. Recently,trade in financialderivatives like options on other securities has increased rapidly.All this has
generated an increased demandfor knowledgeon analyzing allcomplex relationships and questions in a reliable way.
This course is about risk management for financial markets.Concepts treatedare interest rate, arbitrage,forwards,
options including Black-Scholes formula, optimal portfolios, CAPM and Value at risk.
Advanced Financial Mathematics
Description
The course covers immunization of bond portfolios, stability of statistical estimators of parameters,trading strategies
for sev eralassets,optimalportfolios under constraints,rebalancing, performancemeasure, and simplified covariance
structure.