The increasing globalisation and internationalisation within trade and industry have led to a growing demand for managers with an international perspective as well as the ability to evaluate the economic consequences of their decisions.
An MSc in Economics and Business Administration - Finance and International Business not only provides you with the professional qualifications for making strategic decisions concerning difficult and complex financial matters, but also gives you experience and competence in acting in an international context.
The programme in Finance and International Business exposes you to an international educational environment where students come from different countries and thus have different cultural backgrounds.
All exams and courses are carried out in English by members of faculty with an international background.
The programme provides a theoretical framework for advanced academic study of finance and international business that enables you to solve practical problems in the international business community.
The opportunities for participating in exchange and internship programmes either in Denmark or abroad make it a genuinely international education.
The programme is divided into four semesters and has a duration of 2 years.
Here is an overview of the 4 semesters:
1st semester: Prerequisite courses
The first semester creates the necessary foundation both methodologically and theoretically for further studies of finance and international business.
Applied Econometric Methods introduces you to the most widely used quantitative and empirical methods in econometrics, including in particular financial econometrics. The course has two major aims. Firstly, it provides you with tools which enable you to acquire the knowledge published in high quality publications within the areas of empirical finance and economics. Secondly, it equips you with tools for modelling and estimating econometric systems. The methods involved have been chosen with a view towards applications within empirical finance and economics.
Corporate Finance deals with the financial problems of a company and various solution models will be introduced. Further issues are the interactions between the company and the financial markets, with special emphasis on valuation of the company in a capital market perspective.
International Business Methods covers macro level (regional economic integration, e.g. the EU, trade barriers, etc.), company level (internationalisation and export market strategies, management of subsidiary companies, etc.) and individual level interaction between people of different professional and cultural backgrounds.
Internationalisation of the Firm provides you with an in-depth and detailed understanding of theories surrounding the internationalisation of businesses and the practical implications of these theories.
2nd semester: Specialisation courses
The second semester is devoted to more advanced studies within the two areas.
International Financial Accounting focuses on the financial reporting requirements in international environments. An understanding of international business depends on a theoretically grounded, pragmatic knowledge of the international requirements for corporations to report their financial performance and financial position.
Strategy and Management Accounting is a course with different elements of strategy formulation and strategic management accounting will be discussed and analysed. An important element involves the provision of information for the formulation of an organisations' strategy and managing strategy implementation and its importance for management accounting.
Advanced Corporate Finance studies corporate finance under asymmetric information and agency problems. Traditional agency theory and asymmetric information are used to revisit capital structure, dividend and capital budgeting policies. Focus is also on the role of governance systems under different ownership structures.
International Business Finance will introduce you to the multinational firm is confronted with the task of operating internationally. This necessitates an understanding of the markets for products, factors of production, and financial assets. Operating internationally poses unique risks – one of these being the existence of fluctuating exchange rates. More generally, the global integration of money and capital markets implies opportunities as wells as challenges – both of which have to be considered by the multinational firm.
3rd semester: Electives
In the third semester you can choose elective courses within your areas of interest. The courses can either be taken at Aarhus BSS during the semester, at the AU Summer University or at one of our more than 300 partner universities abroad. You can also participate in internship programmes either in Denmark or abroad.
The fourth semester is devoted to the final thesis. You may choose the topic of the thesis freely and in this way get a chance to concentrate on and specialise in a specific field of interest. The thesis may be written in collaboration with another student or it may be the result of your individual effort. When the thesis has been submitted, it is defended before the academic advisor as well as an external examiner.
Internationalisation is a major driving force in todays business for sourcing as well as selling. A wide set of globalisation modes are at hand – from simple export to foreign direct investment or participation in border crossing networks.
This programme deals with the challenge of globalization and ways to handle them. The key concepts throughout the programme are:
The study programme is aimed at providing you with the competences required to take part in the decisionmaking processes in a business with extensive international commitments or a public institution.
This programme has a duration of 2 years and consists of 4 semesters.
1st semester: prerequisite courses
The first semester offers three courses, which provides the student an advanced insight into the theories and topics that are crucial for the understanding, definition and solution of International Business related problems.
The course Emergence of the Global Enterprise gives students a profound understanding of the different theoretical perspectives on the internationalization of firms in order to understand the drivers and decision-making related to the emergence of global enterprises, the operation of the global enterprise, and global business models.
Another course is Emerging markets, their institutions and challenges. The course aims at providing an analytical framework for understanding emerging markets and their institutions. The importance and growth potentials of emerging markets, such as for example the Chinese.
Alongside with the courses above the student will be introduced to methodology in the course Management Research Method. The course focuses on the production of qualified and justified knowledge which lives up to scientific quality criteria. The course introduces a variety of research designs applicable when carrying out research in the area of organisation and management and related areas. These techniques include qualitative as well as quantitative approaches.
2nd semester: specialisation courses
The second semester comprises the following compulsory specialisation courses.
The course Organizing and Managing the Multinational Corporation provides students with an understanding of how multinational corporations are organized and managed, and how the MNC can develop different management practices and organizational capabilities dependent on specific contingencies and circumstances.
In the course Intercultural Competences the student will achieve understanding of how to deal with cultural differences, the role of culture as frameworks for individual and collective actions, and the interplay between cultural structures and individual behavior and train the ability to identify challenges faced by international managers, synthesize the insights gained from the various theoretical fields, and challenge and critically evaluate both functionalist and constructivist, theories and concepts of culture and management.
The course Human Resource Management and Development gives students a fundamental theoretical and practical insight into and understanding of the Human Resource Management (HRM) field – the dynamic interplay of person, job, and organisation.
Finally the course B2B Purchasing Management will teach students how to develop and manage the global purchasing function of an organization. This includes understanding how social buyer-supplier relationships are established, developed, and managed.
3rd semester: Electives or study abroad
On this semester the student has a great possibility to define a professional path for the future based on the choice of electives. Another option is to study abroad at a university in another country. Aarhus BSS - Aarhus University is proud to have more than 300 partner universities around the world.
4th semester: Final thesis
The fourth semester is devoted to the Master thesis. The student may freely choose the topic of the thesis and thereby get a chance to concentrate on and specialise in a specific field of interest. The thesis may be written in collaboration with another student or it may be the result of individual effort. When the thesis has been submitted, it is defended before the academic advisor as well as an external examiner.