Code
MGFE FIN 6205
Niveau
M2
Discipline
Finance
Langue
Anglais/English
Crédits ECTS
2
Heures programmées
20
Charge totale étudiant
40
Coordonnateur(s)
Département
- Data analytics, Économie et Finances
Equipe pédagogique
Introduction au module
The aim of this course is to familiarize you with the tools and instruments of structured finance and credit derivatives as well as the business contexts in which they are frequently used.
Bloc de compétences
- 6. Concevoir et/ou piloter des solutions de gestion innovantes en veillant à garantir une création de valeur soutenable pour toutes les parties prenantes
Compétences du bloc
- 6.2 - Optimiser l'usage d'outils adaptés aux différents domaines de gestion, et définir et interpréter les KPI pertinents, afin de mesurer et garantir une création de valeur durable et soutenable pour toutes les parties prenantes.
Objectifs d'apprentissage du cours
At the end of this PGE M2 course, students are expected to
* characterize structured finance transactions and explain its role in financing both financial and non-financial corporations
* define credit risk and describe the approaches to estimate credit risk
* characterize the main features of credit derivatives, their cash flows and explain the principles of credit derivative pricing
* describe the securitization process and assess the cash flow structure of securitized assets
* Discuss the role of structured finance/credit derivatives in the 2008 financial crisis
Contenu : structure du module et agenda
• Course Introduction
• Time Value of Money, Bonds, Options
• Structured Finance & Credit Risk
• IRS, FRN and Asset Swaps
• Credit Default Swaps (CDS)
• Securitization & Collateralized Debt Obligations (CDO)
• Leveraged buyout (LBO)
Contribution à l'atteinte des ODD (Objets du Développement Durable)
This Structured Finance course incorporates a critical discussion of the 2008 financial crisis to highlight the systemic social responsibilities of financial institutions.
By examining governance failures, risk-taking incentives, and the broader social consequences of financial instability, the course fosters students’ awareness of the role of finance in supporting sustainable, inclusive, and responsible economic development.
The course contributes in particular to SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure).
Nombre d'ODD abordés parmi les 17
3
Apprentissage
Mixte
Méthode pédagogique
The course rests on lectures and in-class exercises to introduce fundamental notions and to allow the students to put the concepts to work (Case studies).
Système de notation et modalités de rattrapage
FinalienableExam（50%）+ Assignments (40%) + Attendance (10%)
(CF2) : Onsite resit exam (2h) in case of failing.
The attendance is mandatory for this class. 20% of the grade will be taken in case of non justified absence.
INDICATE IF EACH EXAM IS INDIVIDUAL OR GROUP AND THE SUBJECT OF EACH EXAM
ATTENDANCE = 10% OR 20%?
IF CF2: FINAL GRADE = 100% CF2 OR CF2 + ATTENDANCE...?
Règlement du module
Professor-Student Communication
● The professor will contact the students through their school email address (IMT-BS/TSP) and the Moodle portal. No communication via personal email addresses will take place. It is the student responsibility to regularly check their IMT-BS/TSP mailbox.
● Students can communicate with the professor by emailing him/her to his institutional address. If necessary, it is possible to meet the professor in his office during office-hours or by appointment.
Students with accommodation needs
If a student has a disability that will prevent from completing the described work or require any kind of accommodation, he may inform the program director (with supporting documents) as soon as possible. Also, students are encouraged to discuss it with the professor.
Class behavior
● Out of courtesy for the professor and classmates, all mobile phones, electronic games or other devices that generate sound should be turned off during class.
● Students should avoid disruptive and disrespectful behavior such as: arriving late, leaving early, careless behavior (e.g. sleeping, reading a non-course material, using vulgar language, over-speaking, eating, drinking, etc.). A warning may be given on the first infraction of these rules. Repeated violators will be penalized and may face expulsion from the class and/or other disciplinary proceedings.
● The tolerated delay is 5 minutes. Attendance will be declared on Moodle during these 5 minutes via a QR code provided by the teacher at each course start.
● Student should arrive on time for exams and other assessments. No one will be allowed to enter the classroom once the first person has finished the exam and left the room. There is absolutely no exception to this rule. No student can continue to take an exam once the time is up. No student may leave the room during an examination unless he / she has finished and handed over all the documents.
● In the case of remote learning, the student must keep his camera on unless instructed otherwise by the professor.
Honor code
IMT-BS is committed to a policy of honesty in the academic community. Conduct that compromises this policy may result in academic and / or disciplinary sanctions. Students must refrain from cheating, lying, plagiarizing and stealing. This includes completing your own original work and giving credit to any other person whose ideas and printed materials (including those from the Internet) are paraphrased or quoted directly. Any student who violates or helps another student violate academic behavior standards will be penalized according to IMT-BS rules.
Références obligatoires et lectures suggérées
_Corporate Finance by Jonathan Berk and Peter DeMarzo, Pearson
_Options, Futures and Other Derivatives by John C Hull, Pearson
_Introduction to Structured Finance by Frank J Fabozzi, Henry A Davis and Moorad Choudhry, Wiley Finance
_Understanding Credit Derivatives and Related Instruments by Antulio N Bomfim, Academic Press
Mots-clés
KEY WORDS
Prérequis
Basic notions of stock and bond markets and pricing as well as options and derivatives