In this course, students acquire knowledge about:

• current economic challenges for financial institutions due to the low-interest rate environment, digitalization-driven innovations such as cryptocurrencies and smart contracts as well as social transformation processes with regard to sustainability
• current regulatory challenges for financial institutions such as Basel IV, IFRS 9 and 13, MARisk, EMIR and MiFID
• the impact of these challenges on business models, corporate governance, processes and methods

After successful completion of this course, students will:

• know the regulatory environment of financial institutions
• understand, describe verbally and in writing and critically reflect on the changing regulatory environment
• know, describe verbally and in writing and critically reflect on the impact of digitalization on the business models of financial institutions
• know, verbally and in writing and critically reflect on the impact of sustainability requirements on financial institutions
• analytically and empirically assess the impact of regulatory, economic and social transformation processes on the strategy and risk management of financial institution

M.Sc.:

• Accounting and Finance: Specialization Studies, Elective Studies
• Data Science in Business and Economics: Free Elective Studies
• Economics: Specialization Studies Economics, Econometrics, Finance, Free Elective Studies
• Economics and Finance: Specialization Studies Finance, Free Elective Studies
• European Economics: Specialization Studies Focus Finance, Free Elective Studies
• European Management/ General Management/ International Business: Specialization Banking, Specialization Finance, Free Elective Studies
• Management & Economics: Free Elective Studies

Registration for the exam is done via Alma. If this is not possible, please contact the examination office

In this course, students acquire knowledge about:

• the theoretical foundations of financial intermediation
• the different groups of financial institutions such as banks, asset managers, venture capitalists, broker/dealers, stock exchanges, rating agencies, fintechs and their functions as intermediaries
• the management and governance of financial institutions
• the risks arising from intermediation
• the regulation of financial institutions

After successful completion of this course, students:

• know the theoretical foundations of financial intermediation and the role of different types of financial institutions
• have an overview of the instruments used to provide intermediation services and the associated market volumes and market shares
• identify management and governance problems in financial institutions and formulate solution strategies
• identify different types of risk and calculate risk measures
• understand the regulatory environment of financial intermediaries and the interplay between regulation and innovation

M.Sc.:

• Accounting and Finance: Specialization Studies, Elective Studies
• Data Science in Business and Economics: Free Elective Studies
• Economics: Specialization Studies Economics, Econometrics, Finance, Free Elective Studies
• Economics and Finance: Specialization Studies Finance, Free Elective Studies
• European Economics: Specialization Studies Focus Finance, Free Elective Studies
• European Management/ General Management/ International Business: Specialization Banking, Specialization Finance, Free Elective Studies
• Management & Economics: Free Elective Studies

Registration for the exam is done via Alma. If this is not possible, please contact the examination office

This course explores advanced concepts in asset management and asset pricing, emphasizing independent research and scientific writing. Students will critically engage with academic literature, conduct data-driven analysis, and present their findings. Topics include portfolio choice, market efficiency, asset pricing models, and fixed-income securities

By the end of this course, students will be able to:

• analyze and replicate advanced models in asset pricing and portfolio management
• critically assess and synthesize academic research in asset management
• apply scientific tools (e.g., Python, R) to analyze data and answer research questions
• develop and defend a research thesis with clear empirical findings

This course is ideal for Master's students specializing in Finance or preparing for careers in asset management and research. No prerequisites are required, but familiarity with econometric tools and asset pricing is advantageous.

The seminar can be selected in the following modules: 

• CM5_01 Advanced Topics in Accounting and Finance
• CM5_10 Advanced Topics in Data Science in Business and EconomicsCM5_05 Advanced Topics in European Management (Schwerpunkt Banking)
• CM5_06 Advanced Topics in General Management (Schwerpunkt Banking)
• CM5_07 Advanced Topics in International Business (Schwerpunkt Banking)
• CM5_09 Advanced Topics in Management and Economics

Registration for the exam is done via Alma. If this is not possible, please contact the examination office

The course first explains the fundamentals of sustainable finance and its components, developing a clear definition of the concept. Subsequently, the opportunities and risks arising from climate change are examined. The lecture also addresses regulatory aspects and the role of central banks. Finally, the effects of climate change at the banking level are analyzed. Students complete a written paper in which they critically reflect on and expand upon the concepts learned

After completing the module, you will be able to:

• assess the effects of climate change on the financial industry and financial markets
• critically reflect on and expand upon the concepts discussed through the preparation of a written paper
• describe the opportunities and risks associated with climate change and analyze their macro- and microeconomic impact chains
• understand various approaches to sustainable finance regulation and evaluate methods for integrating ESG risks into bank risk management

This module can be taken within the following degree programs:

Examination Regulations 2023:

• M.Sc. Accounting and Finance: Specialization Area, Elective Area
• M.Sc. Data Science in Business and Economics: Elective Area
• M.Sc. Economics: Free Elective Area
• M.Sc. Economics and Finance: Free Elective Area
• M.Sc. European Economics: Elective Area
• M.Sc. European/General Management/International Business: Specialization Area Banking, Specialization Area Finance, Specialization Area Industrial Organizations, Specialization Area Marketing, Specialization Area HRM and Organization, Specialization Area Managerial Accounting, Free Elective Area
• M.Sc. Management and Economics: Specialization Area, Free Elective Area

Examination Regulations 2018:

• M.Sc. Accounting and Finance: Specialization Area, Elective Area
• M.Sc. Data Science in Business and Economics: Elective Area
• M.Sc. Economics: Free Elective Area
• M.Sc. Economics and Finance: Free Elective Area
• M.Sc. European Economics: Elective Area
• M.Sc. European/General Management/International Business: Specialization Area Banking, Specialization Area Finance, Specialization Area Industrial Organizations, Specialization Area Marketing, Specialization Area HRM and Organization, Specialization Area Managerial Accounting, Elective Area
• M.Sc. International Economics: Free Elective Area
• M.Sc. Management and Economics: Specialization Area, Elective Area

Registration for the exam is done via Alma. If this is not possible, please contact the examination office

The module covers:

• the material for one of the three CFA® levels
• standards of practice as well as detailed finance, accounting, and security valuation tools
• the curriculum, in-class mock exams, and the final exam resemble portions of the respective CFA® level exam
• each level is offered every three years:
  • Summer Semester 2025: Level 1
  • Summer Semester 2026: Level 2
  • Summer Semester 2027: Level 3

After successful completion of this course:

• students complement their German business education with U.S.-oriented business content, gaining a truly international perspective
• they understand that the CFA’s code of ethics and its rigorous, problem-solving-oriented approach provide a competitive edge in the finance industry
• students develop a solid foundation that helps them succeed in the CFA® exams and ultimately earn the CFA® designation, a highly respected professional credential in the field of business

Requirement: at least one of the following classes: B300, B301, B310, B311, B414A, B414B

M.Sc.:

• Accounting and Finance: Specialization Studies, Elective Studies
• Data Science in Business and Economics: Free Elective Studies
• Economics: Free Elective Studies
• Economics and Finance: Free Elective Studies
• European Economics: Free Elective Studies
• European Management/ General Management/ International Business: Specialization Banking, Free Elective Studies
• Management & Economics: Free Elective Studies

Registration for the exam is done via Alma. If this is not possible, please contact the examination office

• the students are provided with the academic tools to participate in the CFA Institute Research Challenge
• the entire class travels to Frankfurt at the CFA institute's expense
• they listen to a high-level analyst-type company presentation
• they are provided with an academic and an industry mentor
• they receive training on a Bloomberg terminal and are introduced to other financial data providers such as Thomson Reuters Eikon in their study
• based on competition with some of the best German universities, the students have a chance to win and participate at an European and global championship
• CFA pays travel costs to all competition venues (which in the past included New York city, for example)
• the course material includes valuation, financial analysis, stock investment, financial statement analysis
• students practice preparing real-world stock analyst reports at a professional quality level
• 6 ECTS credits; course work: independent research; method of assessment: Portfolio

Students:

• extract information from publicly available financial statements and other data for a firm
• learn to interpret the impact of information on stock prices
• learn to use Bloomberg terminals and to analyze data provided by other professional financial data sources
• do real-world practice with financial modeling using Excel for stock valuation
• learn to interpret key value drivers of a firm and its stock price such as unique product position, competition, public relations and relevant marketing and production issues
• learn to write financial analyst reports at an advanced level is also emphasized
• learn how to personally interact with upper management of a firm in an analyst interview type setting and how to ask probing and meaningful questions relevant to stock valuation
• also learn about stock prices, investment in stocks and practical aspects of the stock market

Requirement: at least one of the following classes: B300, B301, B310, B311, B414A, B414B

M.Sc.:

• Accounting and Finance: Specialization Studies, Elective Studies
• Data Science in Business and Economics: Free Elective Studies
• Economics: Free Elective Studies
• Economics and Finance: Free Elective Studies
• European Economics: Free Elective Studies
• European Management/ General Management/ International Business: Specialization Banking, Free Elective Studies
• Management & Economics: Specialization Studies, Free Elective Studies

Registration for the exam is done via Alma. If this is not possible, please contact the examination office