Financial Management at Utrecht University

Today financial management operates in a highly complex, interconnected and fast-moving international arena. Organisational objectives have to integrate a wide variety of considerations, such as variations in global markets, long-term strategies, corporate social responsibility and stakeholder value; at the same time, short-term financial growth is desired and demanded. Are you interested in the challenge of becoming part of a new generation of financial professionals, who have the knowledge, mindset and skills to ‘future proof’ the financial management of large, SME and start-up businesses? Then the Master’s in Financial Management at Utrecht University School of Economics (U.S.E.) gives you a unique, multidisciplinary and international programme in which you will learn to understand not just a firm’s finances, but also how to deal with  economic, managerial, regulatory, and reporting issues to maximise enterprise value.

Latest economic theory and hard financial skills

The MSc in Financial Management provides students not only with the latest economic and financial theory, but also the hard financial skills and multidisciplinary understanding to put theory into practice in an increasingly complex world. This Master’s programme focuses on all important aspects of modern financial management, including how to raise capital (i.e. issuing shares and bonds), how to allocate capital (capital budgeting, operational budgeting), how to manage short-term resources (working capital management), how to deal with dividend policies, and how to align individual motives to organisational objectives (performance management, compensation systems). In addition, you will learn how to effectively introduce changes in financial management policies in organisations. Importantly, the Utrecht University MSc in Financial Management is geared toward a new generation of financial professionals who are trained to understand and solve trade-offs between short- and long-term objectives, between shareholders and stakeholders, and between financial and social responsibility.

This MSc in Financial Management is geared toward a new generation of financial professionals.
Utz Weitzel, Professor of Finance
 

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Financial Management at Utrecht University: Content

Click here to find out more about the courses within the Financial Management Programme.
 

The Master in Financial Management starts every year in September. The academic year is divided into two semesters. Semester 1 runs from September to January, and semester 2 runs from February to June.
The first semester is divided into two periods. Each period consists of three courses worth 5 EC each. The second semester consists of two electives of 5 EC each, two courses of 2.5 EC and a ?Master’s thesis worth 15 EC. There is a short break over the Winter holidays.

Educational methods

• Lectures
• Guest lectures by professionals from the field
• Interactive tutorials: Tutorials take many forms. Some are used for general discussion of important concepts and topics, some to solve quantitative problems using analysis and mathematics, some to present and discuss case studies or review literature.
• Preparing (group) assignments and presentations: Assignments range from performing a statistical analysis to investigating the validity of an interesting hypothesis using empirical methods, doing a case study on a company’s strategy with respect to M&A or risk management, or writing a country risk report. In many cases, you will present your findings and discuss them with your fellow students and professors.
• Writing academic essays and master’s thesis
• Field trips to organisations and institutes

Examination methods
The assessment typically consists of a mix of:

• written exams;
• written assignments such as an essay, a research proposal, a policy note, or conducting a panel data study; and
• for certain courses your classroom performance will contribute to your overall grade.     

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Financial Management at Utrecht University: Possible Careers

There is a growing need for well-trained young talent able to see ‘the story behind the numbers’ in the financial industry. More than ever before, there is a need for clear financial analysis and sound financial advice. Further, the future of economy and finance will be created by professionals who have a firm grasp on the impact their decisions have upon society and the individual. As a graduate of the MSc in Financial Management, you are prepared to take on a wide variety of financial management positions worldwide, functioning at an excellent practical and academic level, and with a broad perspective that takes all stakeholders into account.

 Graduates of the Utrecht University Master’s in Financial Management have gone on to work in a number of different institutions and sectors including:

• international banks e.g. World Bank, European Central Bank, Dutch Central Bank;
• corporate banks e.g. ABN AMRO, HSBC, ING, Rabobank;
• insurance firms and pension funds  (Delta Lloyd, PGGM)
• financial market regulators (BaFin and AFM)
• start-ups and venture capital firms;
• consultancy firms

Towards a professional career
Positions in the financial industry held by our graduates include:

1. (Junior) consultant financial management: as a financial management consultant, you will advise companies on how to set up their financial management practices.  
2. Financial (management) trainee: as a financial trainee you will be exposed to all facets of financial management. You produce financial reports, direct investment activities, and develop strategies to reach long-term (financial) goals. As such, you are at the root of all major business decisions. Eventually, you will choose a specialisation in one of the financial management functions at the end of the trainee program.
3. Financial analyst: as a financial analyst you perform financial analysis for external or internal clients as a securities analyst, research analyst, equity analyst, investment analyst, or rating analyst.
4. (Assistant) controller: as a controller you supervise the quality of accounting and financial reporting of an organisation, oversee the implementation and monitoring of internal controls, provide management reports on individual and entity performance, and guard the financial health of the organisation.
5. (Assistant) treasurer: as a treasurer you are responsible for cash management, financial risk management (including the use of derivatives), debt management, investment management, and capital structure.      

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Financial Management at Utrecht University: Entry requirements

• A BSc in Economics or Economics and Business Economics preferably with some degree of specialisation in Financial Management. The International Office assesses all international credentials according to the credential evaluation criteria of the Nuffic (the Netherlands Organisation for international cooperation in Higher Education), and advises the Admissions Committee on this subject; and
• A good command of English. Check the specific English proficiency requirements below.
• If you have another university Bachelor’s degree you must have knowledge in the following fields:
  • Principles of Microeconomics
  • Mathematics
  • Econometrics
  • Principles of Macroeconomics
  • Principles of Corporate Finance

The final decision on all applications will be made by the programme Admissions Committee. Applications will be evaluated based on the candidate’s knowledge, insights and skills (as assessed by experts inside and outside of Utrecht University), their motivation and ambition, and their command of English. Candidates should also be able to produce their original degree certificates, if requested.

English proficiency requirements
In order to successfully participate in this programme, you must be proficient in English. The following requirements apply */**:

• IELTS, Academic Module. Minimum score: 7.0 overall band, at least 6.0 for all components.
• TOEFL, iBT. Minimum score: 96, at least 23 for writing and 20 for the other sections. Institutional scores are not accepted (the TOEFL institution code for Utrecht University is 9062).
• Cambridge Certificate in Advanced English, at least a B grade.
• Cambridge Certificate of Proficiency in English, at least a C grade.

Deadline: 1st of June  
 

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Übersicht der Masterstudiengänge - Utrecht University

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Why in Utrecht? - The real world perspective

The statement ‘the real-world perspective’ summarises succinctly U.S.E.’s mission. It indicates a strong awareness of the complex socio-economic reality: human behaviour is not always ‘rational’ and markets are not always in equilibrium. Institutions are important in understanding economic dynamics and so are the dimensions of time and space. The real world perspective leads to a multidisciplinary-economics approach, a research profile that favours crossing borders between academic disciplines, but also – within the economics discipline – between economics and business. U.S.E. aims to contribute to a society where people thrive, by taking a broad view on welfare and all factors involved. Well-being, cooperation, innovation and curiosity are the core values in the academic profile of U.S.E.

In the MSc programme Financial Management in Utrecht you will:

Acquire hard and soft financial management skills
This Master’s programme combines quantitative rigour with a multidisciplinary openness to  diverse  perspectives –   a future-facing educational approach created for a new generation of finance professionals. To ensure you understand the story behind the numbers, your strong theoretical background in economics and finance is applied in a practical, real world way. In addition to working on case studies in which you use your theoretical knowledge,  you will refine your research and analytical skills by working – both individually and in teams - with real-world data obtained from different companies and financial markets. The U.S.E.’s strong connection with financial institutions, their leaders and management enriches this programme. Via guest lectures and internships, you have the opportunity to  build your own connection  with both financial management professionals and their organisations.

Focus on modern financial management with a long-term, sustainable perspective
Financial managers have to deliver short term-results and provide long-term value – not just for shareholders, but for all stakeholders.  In this programme you will gain a thorough understanding of the broad, future-facing financial management expertise you need to tackle complex financial issues in (multinational)  corporations. You will learn how to address these problems and how to  navigate global markets, devise long term strategies and keep an eye on corporate social responsibility in an interdependent, globalised society. You will be trained to understand and solve trade-offs between short- and long-term objectives, between shareholders and stakeholders, and between economic and social responsibility.

Tailor the programme to your ambitions and interests
The programme combines a solid foundation in finance, financial management and business economics with the possibility to gain more specialised knowledge in topics of your choice. It  offers you several optional courses, ensuring that your own interests and career ambitions are reflected in your programme of study.

Be part of a small, international community
The high staff-to-student ratio in tutorials encourages close interaction between you, your peers, and your professors and lecturers in this highly international programme.  Guest lectures from experts in the field, company visits and the option to combine your thesis with an internship all provide you with interesting and challenging opportunities to prepare for your future career. Finally, you will be part of a very active (student) community, with access to a much larger university environment with international students, researchers and lecturers.

 

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Extracurricular opportunities

U.S.E. Academy
As a U.S.E. Master’s student you have the opportunity to attend lectures of fascinating and inspiring people, like CEO’s from large companies, scholars on issues of general interest or politicians on the economic challenges Europe faces today. In the past the U.S.E. Academy has featured guest lectures by, amongst others: Henk Jan Beltman, CCO Tony’s Chocolonely; Herman Wijffels, Chairman Utrecht Sustainable Finance Lab; and Panicos Demetriades, former Governor of the Central Bank of Cyprus.

Young Innovators
Are you curious, entrepreneurial, intellectually versatile, socially responsible? Do you want to get more out of your Master's programme, and learn to work across disciplinary boundaries to both research and actively (co-)create innovative initiatives that will make the world a little bit better? Then the Young Innovators honours programme (15 EC) might be of interest to you!

The programme will focus on exploring and designing innovations in three areas:

• Sustainable innovations in health
• Sustainable innovations in the economy
• Sustainable innovations in urban living

Utrecht University Business Course
Are you inspired and energised by solving complex problems? Do you want to develop your business skills and to experience what it is like to be an entrepreneur? Then the extracurricular Utrecht University Business Course (UUBC) is the honours programme for you! The course is aimed at Master’s students from all disciplines studying at Utrecht University.

The Utrecht University Business Course is a 12-week Master’s honours programme where 30 of Utrecht University’s best students will learn and improve their business skills. During the programme you will participate in workshops, work on projects within a multidisciplinary team of students and network with professors, experts, consultants and entrepreneurs.

The programme
The UUBC kicks off in February with an introductory weekend. You will receive professional training and form a team with which you will be working on assignments and projects throughout the course. The programme consists of 3 main elements:

• Pressure Cooker: valorise a business concept during a 2-week challenge.
• Business Analysis & Consultancy: acquire business analytical skills and build a solution for a current problem of an existing company.
• Entrepreneurship: step into the shoes of an entrepreneur by developing your own idea while being supported and coached by professionals.

Each segment of the programme ends with a team or individual presentation in front of a jury, with a grand finale held in the Academic Building at the end of the programme.
 

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