Master in Financial Management: Specialisation in Urban Infrastructure Finance
Duration
January 2013 - December 2013
Tuition Fee
Euro 26,500
Application deadline
05 October 2012
NFP application deadline
01 May 2012
Language
English
Contact person
Ms. Isidora Markou markou@ihs.nl
MFM:UIF Marketing & Admissions Officer
A joint programme of RSM and IHS
Graduates from the Masters in Financial Management (MFM) programme at Rotterdam School of Management, Erasmus University Rotterdam (RSM) are academically trained and well equipped to analyse and solve complex financial issues.
The combined approach of RSM and IHS prepares ambitious young professionals for a successful career in urban infrastructure finance. The programme focuses on preparing participants for financial decision making from a managerial perspective. This is achieved by providing training in the effective identification, analysis and resolution of a wide range of finance-related issues faced by corporate firms, banks and other financial institutions, but even (semi) government bodies and big utility companies. Knowledge is provided through highly interactive courses, workshops and guest lectures by top financial specialists.
Urban Infrastructure Finance
Urban infrastructure provision ranges from billion dollar metro development programmes to inner city revitalisation, water provision and energy provision. Their finance is complex, requiring a mix of public and private sources and hence a thorough understanding of public and private financial management. This course will enable participants to manage the finances of complex urban infrastructure programmes, including innovative financial instruments for capital investments, project finance, public private finance and financial decision support tools. The course will enable participants to focus on the finance of specific infrastructure sectors through tailored case studies and exercises.
The specialisation period focuses on urban infrastructure finance and integrates private and public finance. This innovative program takes an applied case study approach in the following subject areas:
- Financial instruments for urban infrastructure: fiscal decentralization and intergovernmental transfers; tariff setting; land value capturing; debt borrowing; bonds
- Decision support tools: cost-benefit analysis, economic and financial forecasting; comparative procurement analysis; value for money; multi-criteria decision making
- Project finance tools: risk management; expenditure management, life-cycle costing; asset management
- Public- Private Financial Management: procurement, bidding, contract management
Click here to download the MFM:UIF course brochure.
Objectives
The major objective of the Specialization in Urban Infrastructure Finance is to provide participants with the knowledge and technical competence to become leaders and managers in Urban Infrastructure Finance. Graduates of this program will acquire a specialist abilities of the infrastructure sector at four levels:
- Able to select and apply financial instruments for urban infrastructure capital investments, drawing on public and private finance
- Able to apply financial decision support tools for large infrastructural programmes
- Able to manage complex project finance
- Able to manage financial processes of large public- private vehicles for infrastructure provision
Target groups
The MFM specialisation Urban Infrastructure Finance is intended for individuals with a strong interest in developing their careers in infrastructure finance. The course targets individuals from banks, parastatals, public-private vehicles, consultancies and governments with at least two years' relevant work experience. The admission procedure stresses analytical capacity, communication skills and leadership potential, as well as motivation, maturity and creativity. Excellent bachelor graduates with strong interests in infrastructure finance can also be admitted.
No formal education in finance is required; however a high level of quantitative skills is necessary for entering the programme. Most MFM students are between 24 and 32 years old with at least two years of working experience.
Career Destinations
This programme prepares financial and infrastructure professionals for careers as senior managers, advisers, experts and financial analysts within banks, parastatals, public-private vehicles, consultancies and governments as well as senior managers of large scale urban infrastructure programmes.
Curriculum
The programme consists of four modules, which lasts for twelve months.
Module 1
- Principles of Finance
- Principles of Public Finance
- Principles of Financial Decision-making
- Urban infrastructure financial decision making
- Principles of Computational Finance
- Principles of Decision-making
- Basic Word/ Excel / Powerpoint
- Presentation skills
- Principles of Financial Arithmetic
- Elementary Statistics and Mathematics
Module 2
- Investment & Financial Markets I
- Financial econometrics I
- Investment & Financial Markets II
- Financial econometrics II
- Structuring the Investment Problem
- Optimization for Portfolio Management
- Data Collection and Data Analysis
- Basic Understanding of Econometrics
- Basic Elements of statistics & Mathematics Underlying Derivative Valuation
- Event Studies and their methodology
Module 3
- Derivative I
- Derivative II
- Financial Accounting
- Public Finance
- Financing Public Works and Infrastructure
- Investment Networks
- Analysis of Financial Reports
- Financial Instruments and Decision making Tools for Smart Urban Growth
- Project Finance
- Procurement and Contracts
- Analysis of Future Cash Flows using all available information
- Optimization of Models for Well-structures Problems
- Sources of Information & Technical Tools for the Financial Manager
Module 4
Electives offer an opportunity to acquire more in-depth knowledge of specialized topics such as Private Equity, Public Private Partnerships, Real Options, Risk Management (public sector), Game Theory, Valuation and Mergers and Acquisitions
Module 5
Applied Research in Urban Infrastructure Finance – Internship Period,
This allows participants to gain true professional experience which will bridge the gap between theory and practice.
Training methodology
Through a rigorous comprehensive set of core urban infrastructure finance courses, classroom sessions, simulations, business cases and field visit, participants acquire a sound understanding of infrastructure sector finance and financial management. Building on this foundation, strength in urban infrastructure finance is developed through specifically designed electives. In these courses, key issues in urban infrastructure finance policy development, implementation and management are elaborated. Participants learn to think creatively and make decisions in the complex and ambiguous environment of public / private sector.
In featured exercises and a project course, theory is applied to a current issue within a specific infrastructural sector. Under the guidance of faculty, participants have the option of working on a thesis or working with a public / private or parastatal organization to understand, analyze and influence the resolution of a current problem in urban infrastructure finance policy development, implementation or management.
The professors and lecturers on the specialisation will come from IHS and organisations such as the World Bank, Asian Development Bank, African Development Bank, The regional Office for African and Arab States, etc.
Eligibility & Requirements
To be considered for the Masters in Financial Management programme, candidates need to meet the admission requirements of RSM and submit:
- A completed application form.
- Your GMAT score (institution code is: QK8-CX-79)
(students who have a CFA might be exempted from the GMAT) - An official transcript and certified copy of your diploma from the university where you received your undergraduate or graduate degree.
- 2 letters of recommendation.
- Optional: your TOEFL score report (institution code is: "0798 Rotterdam School of Management").
Candidates whose native language is not English are required to take the TOEFL. Exceptions are made for applicants from China with a NESO certificate (see above) and for those from an English-language university or those have worked in an English-speaking environment for at least 2 years.
The deadline for applications is 05 October, 2012. Applications will be evaluated on a rolling basis. However, please note that in order to qualify for a scholarship or loan from MFM or another institution, you need to apply earlier.
If you wish to begin with your application, please contact Ms. Isidora Markou at markou@ihs.nl.
Tuition fees & Financing
The Programme fee for the one-year full-time MFM programme offered by RSM in conjunction with IHS is € 26,500. This covers both the tuition fee and the lodging and travel expenses for the one –week international study tour. An initial, non-refundable tuition fee deposit of €3,000.- is required upon acceptance into the programme. MFM participants are eligible for various scholarships and loans.
If you are looking for means to finance your study, the Netherlands Fellowship programme can be an option for you.
If you are interested in the MFM:UIF programme and you are looking for means to fund your studies, the Netherlands Fellowship Programme (NFP) could be an option for you. To learn more about the NFP, please visit the Nuffic website. The NFP application deadline for the MFM programme is fast approaching on May 1st 2012.
