Master of Banking And Applied Finance

BANKING COURSES

Bank Accounting

Course Objectives: This course aims to set the fundamental basis for the future accounting courses by covering the bookkeeping process and the reporting of the basic financial statements as the balance sheet, income statement, the statement of cash flows, and the statement of retained earnings. Topics covered include funding structures of a bank and other financial institutions and accounting process of them, bookkeeping process of credit loaning and exchange services depending on the uniform accounting system, comparison of the uniform accounting system and other systems, explanation of documents used by accounting offices in banks.

Bank Asset -Liability Management

Course Objectives: This course aims to set the fundamental basis for the strategic management of bank balance sheet and funding structure and its cost, the relationship between profit and asset-liability management, off-balance-sheet items of the banks, risks for banks, interest rate and foreign exchange management tools- ,hedging techniques for derivatives to manage interest rate risk , duration analysis and transfer pricing, cost calculation and pricing and their applications

Banking Operations and Techniques

Course Objectives: Topics covered include fundamental basis for deposit and credit, corporate and consumer loan services, credit cards and electronic banking services, letter of credits and an international bill receiving, collateral and letter of assurance.

Risk Management in Banking

Course Objectives: This course aims to give students an insight into financial markets which is changing immediately, The basic topics to be covered in this course are: risk management techniques in banks, asset and liability risk management, decision-making process in banking.

Fund Management in Banking

Course Objectives: To acquaint the graduate students with the very basics of fund management (treasury management) at commercial banks, help them understand market risks, and capital and liquidity adequacy for commercial banks, develop their own interpretations on BASEL I, II, and III.

Liquidity Management in Banking

Course Objectives: This course aims to provide the basis for liquidity management and provide information about Baumol and Miller models for determining optimum cash balance and practicing these models. Also, the topics to be covered in this course are role of minimum requirements into liquidity management and methods for compensating capital requirements

ECONOMICS AND FINANCE COURSES

Financial Statements Analysis

Course Objectives: This course examines financial statement analysis, stressing the business and industrial analysis. The course explains financing, investing, and management activities in Financial statement analysis, and discusses the reporting and interpretation of financial reports.

Economics of Financial Markets

Course Objectives: This course aims at teaching monetary theory to be able to understand the functioning of the financial system and hence create the necessary economic foundation for the student. Mainly issues concerning money, banking, and finance markets will be undertaken. The focus will be on money and monetary policy issues. Also, the role of the central bank in the economy and its conduct of monetary policy will be discussed in addition to the relationship of money with inflation. Moreover, the functioning of the international financial system will be undertaken.

Monetary Theory and Policy

Course Objectives: This course will explore the theoretical and empirical analysis of the effect of money on the economy. The effect of money, credit, and liquidity on income, employment, economic growth and inflation will be analyzed. The goals of monetary policy, the methods used to obtain these goals, and the effects of these methods will be discussed. Moreover, issues such as the functioning of monetary policy in an international financial system; the relationship of the financial system with the real economy, monetary policy channels (money, bank credit, and balance sheet channels), and reasons and outcomes of inflation will be undertaken.

Economics of Risk and Institutional Risk Management

Course Objectives: The course focuses on the fundamentals of risk management and its evolution over time. It focuses on how to define, measure and manage risk by taking the students through a historical journey and introducing the heroes that contributed to the profession, from Bernoulli to Laplace, to Keynes, Kenneth Arrow, the father of risk management and derivatives. Later in the semester, the course focuses on modern allocations of risk management with specific emphasis on company balance and bank balance sheets, operations of insurance companies etc. It concludes with tools to manage risk.

Portfolio Management

Course Objectives: Topics covered are: investment environment, market players, securities markets, portfolio risk and return, efficient diversification, CAPM and APT, Efficient market hypothesis and Behavioral Finance and Technical Analysis.

Financial Institutions and Markets

Course Objectives: The content of this course will be comprised of mainly examining the structure of financial institutions and markets in developed countries and in Turkey as well as their interactions. The basic topics to be covered in this course are; the evolution of financial institutions, their role within the financial system, the operation of financial markets, their impact on the economy, their future role and possible development strategies for Turkish financial markets.

QUANTITATIVE METHODS COURSES

Quantitative Methods

Course Objectives: The course starts with static optimization and continues with dynamic optimization methods, both in deterministic and in a stochastic world. the course illustrates how these methods are useful in various applications, drawing on many economic examples. the last part of the course focuses on the simulation of a basic macroeconomic model by using a software platform.

Statistics

Course Objectives: This course provides an introduction to statistics with financial applications. statistical estimation and analysis techniques are provided and illustrated with financial problems.

Monte Carlo Simulation

Course Objectives: The topics covered in this course include the definitions and the classifications of stochastic processes, Poisson process, renewal theory, Markov chains and processes, Martingales and Brownian motion process.

Financial Econometrics

Course Objectives: The course will mostly be based on Time Series econometric methods. While this is the ideal approach for an introduction to the fundamental methods of quantitative finance, the student should keep in mind that the range of econometric methods that can be used to answer questions related to finance and financial economics spans almost the entire spectrum of econometrics. The course starts by reviewing basic tools of statistics and econometrics and makes brief introductions to regression analysis, least squares methods, and some extensions of these topics. Then, numerous time series methods are discussed, including the estimation and forecasting of ARMA and ARIMA models, models of conditional heteroscedasticity (ARCH/GARCH), vector autoregressions, and cointegration. Each topic is discussed along with its applications in finance, keeping in mind the peculiarities of financial data and methods that are designed to work with such data.

Scientific Computation and Simulation in Finance

Course Objectives: Scientific computation and simulation in finance is a cross-disciplinary area which relies on mathematical finance, numerical methods and computer simulations to make trading, hedging and investment decisions, as well as facilitating the risk management of those decisions.

Financial Modelling

Course Objectives: The course develops economic and financial models using EXCEL. The most widely used financial calculations will be performed in a spreadsheet format using simulated and real-world data. An econometric analysis will be undertaken using the regression tool pack in EXCEL. At the end of the course, you will have several financial models in a spreadsheet format that you can modify for future use. Topics covered include NPV, IRR, Bond pricing, duration, option pricing, Black-Scholes and binomial option pricing models, value at risk, the value of the firm, portfolio risk.

Optimization Techniques

Course Objectives: The topics covered in this course include linear programming: modeling, solution methods, duality in linear programming; the simplex algorithm, dual problem and marginal costs using duality theorem nonlinear programming: first and second order optimality conditions for unconstrained problems, lagrange multipliers, convexity in mathematical programming, the kuhntucker theorem; discrete optimization.

Stochastic Processes in Finance

Course Objectives: The topics covered in this course include the definitions and the classifications of stochastic processes, Poisson process, renewal theory, Markov chains and processes, Martingales.

Term Project

Course Objectives: The aim of this course is to guide students in writing the term project which is a requirement for obtaining the MA degree in financial economics that demonstrates the expertise and knowledge the student has gained throughout her graduate work. Students prepare a 60-page research paper under the guidance of faculty on current theories and topics in financial economics. The student is responsible for finding a suitable topic and after approval of the topic by her advisor, will prepare a research outline. The term project will need to develop an analysis that is rooted in theory and makes use of data and statistical techniques

Application Requirements for International Students

Who can apply?

• Foreign nationals
• Blue Card holders (Turkish citizens by birth, but released from citizenship by the Ministry of the Internal Affairs, and who can certify that their minor children who are registered in that permit are eligible for the rights stated in Law No. 5203)
• Foreign nationals who became Turkish citizen afterward/dual citizens in the same status
• Turkish nationals who completed the last three years of their secondary education (high school) in a foreign country excluding Turkish Republic of Northern Cyprus, (including those who completed their entire secondary education (high school) at Turkish schools in the presence of Ministry of National Education in a foreign country excluding Turkish Republic of Northern Cyprus) before 01 February 2013.
• Turkish nationals who completed their entire secondary education (high school) in a foreign country excluding Turkish Republic of Northern Cyprus, (including those who completed their entire secondary education (high school) at Turkish schools in the presence of Ministry of National Education in a foreign country excluding Turkish Republic of Northern Cyprus) after 01 February 2013.
• Turkish Republic of Northern Cyprus nationals who reside there and completed their secondary education there having a GCE AL certificate, and those, who registered to high schools in other countries between 2005-2010 and hold or will hold GCE AL certificate.

Who cannot apply?

• Turkish nationals, who completed their entire secondary education in Turkey or in Turkish Republic of Northern Cyprus.
• Turkish Republic of Northern Cyprus nationals (excluding the ones who completed their entire secondary education there having a GCEAL certificate, and those, who registered to high schools in other countries between 2005-2010 and hold or will hold GCE AL certificate)
• Dual citizens who have a Turkish citizenship by birth. (excluding the ones who completed their entire secondary education in a foreign country excluding Turkish Republic of Northern Cyprus/ those who completed their entire secondary education at Turkish schools in a foreign country excluding Turkish Republic of Northern Cyprus)
• Dual citizens who have a Turkish Republic of Northern Cyprus citizenship (excluding the ones who completed their entire secondary education there having a GCEAL certificate, and those, who registered to high schools in other countries between 2005-2010 and hold or will hold GCE AL certificate)
• Turkish nationals or dual citizens, who have a Turkish citizenship by birth, that attend schools affiliated to the embassies in Turkey, and foreign high schools located in Turkey.