The Hongkong University of Science and Technology（HKUST）
香港科技大学
NYU / STERN
纽约大学
Master of Science in Global Finance
全球金融硕士
Programme Benefits
Program Design
项目设计
One-year program with 7 modules
4 modules in Hong Kong, 2 in New York and 1 in Shanghai
12 courses and 1 Integrative Group Project
40 total class days including 12 days in the weekends
一年制7个模块
香港4个模块，纽约2个，上海1个
12节课和1个整体集体项目
40个总课时，包括周末12天
Course Delivery
Course materials include textbooks, pre-readings, case studies, and in-class materials
Course delivery by lectures, in-class exercises and case discussions
Expect 60 hours of work for a 2-credit course on top of class hours
课程交付
课程材料包括教科书、预阅读、案例研究和课堂材料。
课堂讲授、课堂练习和案例讨论
预计60小时的工作时间为2学分课程
Assessment
Assessments in the form of assignments, in-class exercises, take-home exams and timed tests
Class participation and attendance contribute to final grades
Integrative Group Project
Students form small groups and work on real-life finance issues
Faculty will be assigned as project advisor
Deliverables include project report and presentation
评估
以作业、课堂练习、家庭考试和计时测试的形式进行评估
班级参与和出席有助于最终成绩
互动集体项目和演示
学生组成小组，处理现实生活中的财务问题。
教师将被指派为项目顾问
可交付成果包括项目报告和演示文稿
Course Schedule
上课安排
Module 1
November, Hong Kong
Global Macro and Asian Markets
Foundations of Corporate Finance
Module 2
January, Hong Kong
Foundations of Investments
Asset Allocation
Module 3
March, New York
Derivatives Markets
Fixed Income Instruments and Markets
Module 4
May, Hong Kong
Applied Corporate Finance and Valuation
Behavioral Finance
Module 5
June, Shanghai
Financial Markets and Corporate Finance in China
Module 6
August, New York
FinTech
Risk Management in Financial Institutions
Topics in Financial Markets and Governance
Module 7
November, Hong Kong
Group Integrative Project Presentations
Curriculum
课程
From Class of 2018 onward, we will have a total of 12 taught courses and a Group Integrative Project as follows:
12门课程：
Global Macro and Asian Markets (2 credits)
国际宏观和亚洲市场
This course introduces students to macroeconomic forces that affect global and Asian financial markets. Students will discuss various global macroeconomic concepts, the influences of global finance on long-run economic growth, and the structure/size of foreign exchange markets. This course will also cover recent developments in global/Asian financial markets, macroeconomics in a post-crisis world, and exchange rates.
Foundations of Corporate Finance (2 credits)
公司金融基础
The aim of the course is to provide students with a comprehensive overview of the financing and investment decisions made by firms. It covers capital budgeting, dividend policy, financing policy and managerial incentives.
Foundations of Investments (2 credits)
投资基础
This course provides an introduction to modern asset pricing theory. We begin by briefly reviewing portfolio theory. We then move on to discussing current determinants of asset prices such as cash risk and liquidity. One of the course's goals is to apply asset pricing theories to investment decision-making. A second goal is to prepare students for upcoming courses. A third goal is to build a fundamental knowledge of fixed income and derivatives products.
Asset Allocation (1 credit)
资产配置
The course builds on Foundations of Investments to provide students with tools and knowledge in global asset allocation. Topics include major investable markets and players, asset allocation, performance evaluation, strategies and performance of hedge funds, and factor models.
Derivatives Markets (2 credits)
衍生品市场
This is a course in derivatives markets: structure, valuation and strategies. It builds on the content of Foundations of Investments and combines theory, empirical findings and practical applications. The main applications include the equities, foreign exchange and commodities markets. The key derivatives instruments discussed include forwards, futures and options. Cases and examples include the 1987 crash, LTCM, Metallgesellschaft, Amaranth, etc.
Fixed Income Instruments and Markets (2 credits)
固定收益工具和市场
The course addresses fixed income financial instruments and their derivatives, covering the types of debt instruments, interest rate structures and building the yield curve, the valuation of debt securities, debt default and related topics. There is also consideration of fixed income instruments in portfolio strategies, as well as the role of financial structures, options and derivatives such as credit default swaps.
Applied Corporate Finance and Valuation (2 credits)
应用公司金融和估值
This course focuses on the valuation of companies and the creation of shareholder value by looking at the interplay of corporate strategy and finance. The course exposes participants to valuation frameworks that can readily be applied to improve business and strategic decision-making.
Behavioral Finance (1 credit)
行为金融学
A growing strand of research suggests that the standard economic paradigm—rational investors in an efficient market—does not adequately describe behavior in financial markets. Behavioral finance combines the latest findings of behavioral and cognitive psychological theory with conventional economics and finance to provide alternative explanations of financial market behavior. We will examine how psychology of decision making under conditions of risk and uncertainty affects the traditional paradigm, while paying attention to practical applications for portfolio and investment management.
Financial Markets and Corporate Finance in China (2 credits)
金融市场和中国的公司金融
This course provides an overview of China's financial markets, the reform of financial institutions and corporate risk management. Students will gain an understanding of the recent developments in financial services and corporate practices in China.
Risk Management in Financial Institutions (2 credits)
金融机构的风险管理
The course covers state-of-the-art and new developments in major areas of risk management in financial institutions and business firms in general - credit risk, market risk, liquidity risk, operational risk, sovereign risk, strategic risk, and reputational risk. Emphasis is placed on risk integration.
FinTech (1 credit)
金融技术
The course will introduce the current state of FinTech and discuss how financial institutions and their stakeholders are being affected by new technologies. Students will understand how traditional business models are being impacted by the application of new technologies and how financial innovation impacts money and payment systems. The course offers a combination of case studies, lectures, and guest speaker sessions, and will identify current trends and opportunities within the FinTech ecosystem.
Topics in Financial Markets and Governance (1 credit)
金融市场和监管的主题
A Capstone module covering advanced topics in finance, the selection of which will depend on market developments and students' interests. The course builds on material covered in the other courses in the program, and is taught at the research-driven frontier.
Integrative Project Presentation (4 credits)
整体项目演示
The aim of the project is to enable students to apply what they have learned in each course unit and to draw on their practical experience in the global banking and financial markets. Students work in groups on a team project throughout the year that culminates with a presentation to a panel of faculty.
Admission Requirements
录取要求
Applicants are expected to meet the following requirements to be considered for admission:
have a Bachelor's degree with good GPA results; and
have at least five years of full-time work experience post-qualification
TOEFL/ IELTS (academic): A satisfactory TOEFL/ IELTS result will be required for applicants whose native language is not English and who have not received a university degree from an institution where English is the medium of instruction.
Others: Applicants who are yet to demonstrate sufficient quantitative skills may be required to take a separate assessment on quantitative skills, or to provide a GMAT score after initial review by the Admission Committee.
申请人应符合以下要求：
具有良好的GPA成绩的学士学位；
有五年以上任职资格的全职工作经验
托福/雅思（学术）：对于母语不是英语，并且没有从以英语为教学媒介的机构获得大学学位的申请人，需要有令人满意的托福/雅思成绩。
其他人：申请者如果还没有展示出足够的定量技能，可能需要对定量技能进行单独评估，或者在录取委员会初步审查后提供GMAT分数。
Student Profile
Citizenship
Hong Kong & China (31%)
US & Canada (18%)
Asia Pacific (31%)
Australia, India, Japan, Korea, Singapore, Taiwan, Thailand
Others (20%)
Brazil, British, Germany, Mexico, Nigeria, South Africa, Venezuela
Work Locations
Hong Kong (38%)
US (16%)
China (11%)
Asia (20%)
India, South Korea, Japan, Singapore, Taiwan, Thailand
Others (16%)
Brazil, Seychelles, South Africa, United Arab Emirates, Venezuela
Participant Employers
(examples)
Bank of America Merrill Lynch
Barclays Bank
BNP Paribas
Citigroup
Deutsche Bank
EY
Hang Seng Bank
HSBC Private Bank
KPMG LLP
Macquarie
UBS AG
Australia & New Zealand Banking Group
Bank for International Settlements
Development Bank of Southern Africa
Federal Reserve Bank of New York
Savills Investment Management
Standard Chartered Bank
Tuition Fee
学费
The program fee for the Class of 2019 (starts in Nov 2018) is USD 73,800 / HKD 575,640.
The program fee covers tuition, books, course materials, as well as accommodations for Module 1 and Module 7 in Hong Kong. Lunches for all modules are also covered.
Participants are expected to take care of additional expenses including travel for all modules, and lodging (except for Module 1 and Module 7 in Hong Kong). Please click here for an estimate on the cost of attendance.
PROGRAM FEE
PAYMENT SCHEDULE
Admission Deposit - USD 7,800 / HKD 60,840
First Installment - (Sep 2018) - USD 22,000 / HKD 171,600
Second Installment - (Jan 2019) - USD 22,000 / HKD 171,600
Final Installment - (Apr 2019) - USD 22,000 / HKD 171,600
Total USD 73,800 / HKD 575,640
*Assume USD : HKD = 1 : 7.8
** Program fee is non-refundable
2019班的课程费用（从11月2018开始）为73800美元/港币575640。
课程费用包括学费，书籍，课程材料，以及在香港的模块1和模块7的住宿。所有模块的午餐也包括在内。
参加者预计将承担额外费用，包括所有模块的旅行和住宿（除了模块1和模块7在香港）。
付款时间表
录取押金： 7800美元/港币60840
第一期-（SEP 2018）- 22000美元/港币171600
第二期-（1月2019）- 22000美元/港币171600
最后分期付款-（APR 2019）- 22000美元/港币171600
总额73800美元/港币575640
*假设美元：港币＝1：7.8
**项目不予退还
Application Procedures
申请步骤
Step 1: Preliminary Interview 初步面试
If you are interested in applying to the program, we strongly advise you to go through a Preliminary Interview with our admission team before applying. You will have an opportunity to clarify questions about the program, and get some advice on your candidacy from our admissions staff.
Please complete the Preliminary Information Form online and attach your CV/Resume. The Admissions Office will review your information and follow up with you within one week after submission.
Step 2: Online Application 在线申请
If we find the MSGF program is a right fit for you, you will be invited to submit an online application. Along with the online application form, you will also be required to submit the following:
An updated CV/Resume 更新简历
Three essays 3篇Essays
Official transcripts 官方成绩单
A passport photo 护照照片
Two recommendation forms, one of which should be a work reference 两封推荐信，一封工作推荐人
TOEFL/IELTS results (if applicable) 托福/雅思成绩
A non-refundable application fee on HK$ 1,200 paid by credit card 1200港币申请费
Step 3: Selection Interview 筛选复试
Upon review of your completed application form and materials, you may be invited for a selection interview if shortlisted. The interview is usually conducted face-to-face or via video conference.
Step 4: Admission Results 申请结果
Admission results will usually be released four weeks after the selection interview. Admitted candidates will be required to pay a tuition deposit (around 10% of the program fees) to secure a place. The first module of the program will be held in Hong Kong. Non-Hong Kong residents must allow at least 8 weeks before the program starts to apply for a student visa.
筛选面试后的四周
