MA in Financial Economics 2017-2018 - Arison School of Business Tiomkin School of Economics
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ARISON SCHOOL OF BUSINESS
TIOMKIN SCHOOL OF ECONOMICS
MA IN
FINANCIAL ECONOMICS
RAPHAEL RECANATI INTERNATIONAL SCHOOL
at IDC HERZLIYA
2017-2018
WELCOME FROM
THE HEADS OF THE PROGRAM
THE MA IN FINANCIAL ECONOMICS IS
DESIGNED TO PROVIDE STUDENTS WITH
TOOLS AND IN-DEPTH KNOWLEDGE
PROF. ZVI ECKSTEIN PROF. YANIV GRINSTEIN ENABLING THEM TO CONTEND WITH THE
DEAN, FINANCE PROFESSOR, ISSUES AND CHALLENGES OF THE GLOBAL
TIOMKIN SCHOOL OF ARISON SCHOOL OF
ECONOMICS BUSINESS BUSINESS-ECONOMIC ENVIRONMENT. THE
PROGRAM COMBINES FIRM THEORETICAL
FINANCE AND ECONOMICS PRINCIPLES
WITH ADVANCED INTERNATIONAL
MACROECONOMIC CONTENT.”
Dear Prospective Student,
The MA in Financial Economics is designed to provide students The MA in Financial Economics is an important stage in the
with tools and in-depth knowledge enabling them to contend academic and research development of IDC Herzliya. The program
with the issues and challenges of the global business-economic is in line with the development of the Arison School of Business and
environment. The program combines firm theoretical finance and the Tiomkin School of Economics as two centers of excellence that
economics principles with advanced international macroeconomic perceive the commonalities of research and teaching as beneficial
content. to the global market and society. Together, we will pave the path
of our program graduates to employment in leading institutions
The program trains its graduates for diverse positions as senior
in the relevant fields, and will achieve IDC’s mission of training
economists and analysts in financial institutions, and for financial
and nurturing the future economic leadership.
management positions in large business companies.
Graduates of the research track who are interested in pursuing
an academic career will have acquired the necessary theoretical Prof. Zvi Eckstein Prof. Yaniv Grinstein
knowledge and research skills for doctoral studies in leading
institutions of higher education in Israel and across the world.
2
PROGRAM HIGHLIGHTS
The MA in Financial Economics is a joint program of the Arison
School of Business and the Tiomkin School of Economics whose
design is based on similar programs in leading international
universities.
The program trains students for diverse positions as senior
economists and analysts in financial institutions and for
financial management positions in business companies,
investment houses, asset management companies, pension
funds, public institutions, regulatory bodies and more.
A rigorous curriculum in economics and finance which is taught
by world-renowned lecturers from Israeli and international
universities with rich academic and research experience.
Internships in leading Israeli and international firms available
for honor students.
Classes consist of both Israeli and international students.
An optional track with an MA thesis is offered.
Merit scholarships available for outstanding students.
Optional study trip to London’s financial center.
Aimee Rawlings
MA Financial Economics
South Africa
DOING THE MASTER’S DEGREE IN FINANCIAL
ECONOMICS AT IDC WAS AN ENRICHING EXPERIENCE.
THE OPPORTUNITY TO NETWORK AND TO LEARN
FROM TOP LECTURERS WERE DEFINITELY THE
HIGHLIGHTS FOR ME.”
3
ADVISORY COMMITTEE
The program has an advisory committee COMMITTEE MEMBERS
comprised of senior personnel in financial
and economic fields in the Israeli and global Prof. Dani Tzidon
Deputy Chief Executive Officer and Head of Capital Markets,
market. The committee assists in the formation Private Banking & Strategy Division, Bank Leumi
of the academic program and advises on how
Prof. Zvi Eckstein
to adapt the curriculum to the ever-changing Dean, Tiomkin School of Economics.
needs of the market. Prof. Eckstein is a world-renowned economist and former Deputy
Governor of the Bank of Israel
Prof. Yaniv Grinstein
Lecturer and Researcher, Arison School of Business.
Professor Grinstein is an internationally recognized expert in
Finance
Ms. Anath Levin
CEO, Canaf - Clal Financial Management Ltd.
Dr. Nadine Baudot Trajtenberg
Deputy Governor of the Bank of Israel and faculty member of the
Tiomkin School of Economics
Mr. Eyal Deshe
Vice President and CFO, Teva Ltd.
Mr. David Woo
Head, Global Rates and Currencies Research, Bank of America
Mr. Neil Corning
CEO Citi Israel
Shawn Bank
MA Financial Economics
Canada
THE CURRICULUM OF THE MA IN FINANCIAL ECONOMICS PROVIDES THE TOOLS FOR
DEALING WITH COMPLEX THEORETICAL ECONOMIC ISSUES, AS WELL AS PRACTICAL
PREPARATIONS TO CONTINUE IN THE FIELDS OF RESEARCH, INVESTING AND ECONOMIC
POLICY. THE PROFESSORS ARE EXPERIENCED, ACCOMPLISHED AND ARE WILLING TO SMOOTH
OUR TRANSITION TO THE NEXT STAGE OF OUR EDUCATION AND CAREER. “
4
ADMISSION
ADMISSION REQUIREMENTS LENGTH OF PROGRAM
• The program is open to graduates of BA programs with a • 14 months (full time)
strong quantitative background. • 26 months (part time)
• The BA program has to include at least two semester-long
courses of undergraduate level calculus and two semester-
long courses of undergraduate level statistics.
SCHEDULE
• Preference will be given to students with undergraduate
• In the full-time program, classes will be held on Monday and
degrees in computer science, economics, business, exact
Thursday afternoons and Friday mornings in six mini-semesters
sciences and engineering.
of six weeks each with two-week exam periods in between.
• Undergraduate grade point average of at least 80. Each mini-semester includes between 4-5 courses.
• No prior work experience is necessary. • Students can choose to study in a part-time format and spread
• All candidates will be interviewed by Prof. Eckstein and Prof. out their studies over a two-year period (26 months). In the
Grinstein. part-time program, each mini semester includes between
• A prerequisite course in master’s-level Mathematics for 2-3 courses.
Economics, provided right before the program starts, is
required for full acceptance unless the student can show
sufficient background. TUITION
• A prerequisite course in Economics, provided right before the Cost of the program is 70,000 NIS. Payment in installments will
program starts, is required for full acceptance unless the student incur additional charges.
majored in Economics in his/her undergraduate studies.
DOCUMENTS SCHOLARSHIPS
• CV Head of Program Merit Scholarship for Outstanding Students
10,000 NIS
• BA transcript
• BA diploma Dean Merit Scholarship for Exceptional Students
• Copy of passport or identity card 17,500 NIS
Scholarships will be offered to suitable students following the
interview stage of the application process.
OFFICIAL DOCUMENTS
Official documents must be formatted in one of the following
manners:
A. Official documents must bear the stamp of the issuing
institution, OR
B. Notarized photo copy of the official document, OR
C. A photocopy of the document may be submitted if the original
is shown to the Admissions Department.
5
PROGRAM CURRICULUM
PREREQUISITES
August - October 2017
Students must pass a prerequisite course in master’s-level If the student is abroad and cannot attend these courses,
Mathematics for Economics, before the program starts. The he/she will have access to the material but is required to be
course is required for full acceptance unless the student present for the final exams in September - October 2017.
can show sufficient background.
Students must pass a prerequisite course in Economics,
before the program starts. The course is required for full
acceptance unless the student majored in economics in
his/her undergraduate studies.
November 2017 – December 2018
REQUIRED COURSES ELECTIVES
• Finance I • Advanced Topics in Econometrics
• Finance II • Economic Growth
• Financial Accounting I • Valuation
• Financial Accounting II • Investments Workshop
• Micro Economics I • Risk Management Workshop
• Micro Economics II • International Macroeconomic Policy & Business Cycles
• Macro Economics I • Advanced Topics in Corporate Finance
• Macro Economics II • Selected Topics in Global Economy
• Econometrics I • Advanced Bond Markets
• Econometrics II • Stress Testing in Banks
• Workshop in Professional Writing • The Economics of Banks, Financial Markets & Regulation
• Bond Markets and Derivatives • Credit Analysis
• Investments
• Economic Strategy FINAL PROJECT / THESIS
• International Finance
• Options and Financial Derivatives
• Practicum in Capital Markets
* The academic administration of IDC Herzliya reserves the right to make changes to the curriculum.
6
OPTIONAL STUDY TRIP TO LONDON
The program includes a week-long study trip to “The
City” where students will have the opportunity to
meet with senior financial personnel in London’s
global financial center. Past trips have included
visits to institutions such as UBS, Deutsche Bank,
Citigroup, Bloomberg, Brevan Howard, Goldman
Sachs, and BOA Merrill Lynch. There are a limited
number of spaces and trip expenses will be paid
by the students.
7
FACULTY
PhD. Orly Idan, PhD, Tel Aviv University Prof. Yaniv Grinstein, PhD, Carnegie Mellon University
Senior Associate Researcher, Psychology of Intergroup Conflict and Co-Head, MAFE Program; Formerly tenured faculty at Cornell
Reconciliation Lab, IDC Herzliya; Martin Springer Center for Conflict University; Associate Editor, Management Science; Visiting Faculty,
Studies, Ben Gurion University Wharton School of Business; Visiting Academic Scholar, Securities
Areas of Expertise language, emotions & intractable conflicts; and Exchange Commission
discourse analysis of “the other’s” narratives; mentalization Areas of Expertise corporate finance; corporate governance
& language development; resilience sources; salutogenic Courses Finance 1; Finance 2; Final Project Seminar
interventions in conflictual settings
Course Academic Writing PhD. Samer HajYehia, PhD, MIT; CFA
Former Senior Executive, GMO, Fidelity, AG, and Deloitte; Board
Prof. Jan Schneider, PhD, University of California, Berkeley Member, Bank Leumi; Chairman, Audit Committee, Hadassah Hospital;
Clinical Assistant Professor, UT Austin consultant in economic strategy, business development, investment
Areas of Expertise asset pricing; option pricing management, banking and capital markets
Areas of Expertise global banking; investment management;
Prof. Jacob Boudoukh, PhD, Stanford GSB capital markets covering multi- assets classes from multidisciplinary
Formerly with Stern School of Business, NYU and the National Bureau perspectives- management, legal, accounting, finance, & economics
of Economic Research Courses Fixed Income and Derivatives; Practicum in Capital
Areas of Expertise asset pricing; investment management; risk Markets
management; fixed income; currencies; derivatives
Courses Advanced Fixed Income; Risk Management Prof. Zvi Hercowitz, PhD, University of Rochester
Former Professor, Tel Aviv University; Former consultant, Research
Prof. Alex Cukierman, PhD, MIT Department, Bank of Israel;
Professor Emeritus Tel Aviv University; Member of the Bank of Israel Visiting Scholar, Federal Reserve Banks of Chicago, Minneapolis
Monetary Committee; Former President, Israeli Economic Association and Richmond
Areas of Expertise macroeconomics; monetary economics; Area of Expertise macroeconomics
political economy; monetary policy & institutions Course Macroeconomics 1
Course Macroeconomics II
PhD. Doron Israeli, PhD, Stanford University
Prof. Zvi Eckstein, PhD, University of Minnesota Expert on financial reporting, stock pricing efficiency & quantitative
Served as Deputy Governor Bank of Israel; Dean, Tiomkin School of methods in finance
Economics; Co-Head, MAFE Program Areas of Expertise role of financial reporting in capital markets;
Area of Expertise macroeconomic policy effects of capital markets frictions & human cognitive constraints
Courses Global Monetary & Financial Stability Policy; Final Project on stock pricing efficiency; corporate investment policy
Workshop Courses Econometrics I; Econometrics II
PhD. Ronel Elul, PhD, Yale University PhD. Shimon Kogan, PhD, University of California, Berkeley
Researcher, Federal Reserve in Philadelphia; Lecturer, Wharton School Former faculty Carnegie Mellon University and the University of
of Business Texas, Austin
Areas of Expertise financial stability in banks Areas of Expertise behavioral finance; empirical asset pricing;
Course Stress Testing in Banks experimental economics
Course Investments
8
Professor Ron Lazer, PhD, New York University PhD. David Woo, PhD, Columbia University
Adjunct Professor of Accounting & Control, INSEAD; Professor and Head, Global Rates & Currencies Research, Bank of America;
Accounting Department Chair, The Academic Center of Law and Researcher, World Business Markets, Merrill Lynch
Science Sha’arei Mishpat, Israel Areas of Expertise macroeconomics; international finance
Areas of Expertise financial accounting & reporting; value Course Selected Topics in Global Economy
relevance of accounting information; analyst forecasts & effects
of regulation, companies’ valuation & voluntary disclosures Prof. Itzhak Zilcha, PhD, The Hebrew University of Jerusalem
Courses Financial Accounting 1; Financial Accounting 2 Professor of Economics, Tel Aviv University and College of Management
Areas of Expertise human capital; growth & income distribution;
Prof. Omer Moav, PhD, The Hebrew University of Jerusalem economics of information; economics of insurance
Former Professor of Economics, The Hebrew University of Jerusalem;
Course Microeconomics 1
Former Head, Advisory Board to the Israeli Minister of Finance;
Professor of Economics, The University of Warwick
Research Areas economic growth & development
Courses Microeconomics; Macroeconomics; Economic Growth
PhD. Yigal Newman, PhD, Stanford Business School
Researcher and portfolio manager in the US asset management industry
Areas of Expertise currencies; options; financial crises; the
practice of portfolio management
Course Practicum in Portfolio Management
Prof. Yona Rubinstein, PhD, The Hebrew University of Jerusalem
Areas of Expertise economics; econometrics
Course Advanced Topics in Econometrics
Prof. Oded Sarig, PhD, University of California, Berkeley
Faculty member at Columbia University, Wharton School of Business
and Tel Aviv University
Area of Expertise corporate finance
Course Corporate Valuation
Prof. Marius Schwartz, PhD, University of California
Professor of Economics, Georgetown University; Served as Chief
Economist, Federal Communications Commission (FCC); Acting
Deputy Assistant Attorney General for Economics and Economics
Director of Enforcement, Antitrust Division, US Department of Justice
Area of Expertise antitrust
Course Economic Strategy
Talia Chriqui
MA Financial Economics
France
Michael Barouka
MA Financial Economics
England 9ACADEMIC SCHEDULE 2017-2018 תשע”ח
Math: August 22, 2017- September 15, 2017
Preparatory Courses Economics: October 15, 2017 - October 27, 2018
(not including exam period for each subject)
Opening Event November 10, 2017
Mini Semester 1 November 13, 2017 - December 22, 2017
Mini Semester 2 January 8, 2018 - February 16, 2018
Mini Semester 3 March 5, 2018 - April 27, 2018
Purim March 1, 2018 - March 2, 2018
Pesach Vacation March 30, 2018 - April 6, 2018
Memorial Day and
April 17, 2018 - April 19, 2018
Independence Day
Mini Semester 4 May 28, 2018 - July 6, 2018
Shavuot May 20, 2018
Mini Semester 5 July 30, 2018 - September 7, 2018
Rosh Hashanah September 9, 2018 - September 11, 2018
Yom Kippur September 18, 2018 - September 19, 2018
Succoth September 23, 2018 - September 30, 2018
Study Trip to London To be announced
Mini Semester 6 November 12, 2018 - December 21, 2018
Dates are subject to change.
10Design Guy Tamir, guy@2plustudio.com
Production Mimi Laufer, Maya Gershon, Jasmin Saydof
Editor Marilyn Koolik
Photography Adi Cohen Zedek, Alon Gilboa, Kobi Zholtack,
Mimi Laufer, Oren Shalev, Ran Yitzhakwww.rris.idc.ac.il/MAFE
CONTACT INFORMATION
Interdisciplinary Center Herzliya
POB 167, Herzliya, Israel 4610101
GRADUATE PROGRAMS NORTH AMERICA
INTERNATIONAL ADMISSIONS OFFICE Tel +1 212 213 5962
rris.us@idc.ac.il
Tel +972 9 960 2801
Fax +1 212 213 6436
rris.mafe@idc.ac.il
Fax +972 9 952 7334
Online Registration
https://www.idc.ac.il/BAMAOnline/register_formMamba.aspx
GRADUATE PROGRAM UK & FRANCOPHONE EUROPE
ISRAELI ADMISSIONS OFFICE Tel +44 (0) 778 384 6852
bannette@idc.ac.il
Tel +972 9 952 7300
master@idc.ac.il
Fax +972 9 960 2770
Online Registration
www.idc.ac.il/RishumOnlineMasterYou can also read
