Core Competencies in Investment and Finance

This microdegree programme is designed for individuals who already possess prior knowledge of finance and accounting and wish to deepen their competencies in investment management and corporate finance. The programme focuses on making strategic and responsible financial decisions, integrating investment analysis, corporate financial management, and financial ethics and law into a coherent and comprehensive learning pathway.

Throughout the studies, participants develop the ability to assess risk–return relationships, analyse cash flows and investment projects, design capital structures, and understand the role of financial markets and institutions in value creation. In addition, the programme strengthens understanding of the regulatory environment and ethical principles that are integral to professional practice in the financial sector.

The programme is structured in a practical and analytical manner, combining lectures, case analyses, independent assignments, and examinations. It supports the development of critical thinking, financial reasoning, and informed decision-making skills.

The microdegree consists of finance and accounting specialisation courses from the International Business Administration curriculum and is part of a programme that has received the prestigious EFMD international accreditation.

Investment Management -  24 ac/h in classrooom - 3 ECTS
The course gives participants with essential knowledge and analytical tools for making sound investment decisions. It covers key concepts in portfolio formation, risk-return relationships, asset allocation, and investment strategies, with a strong emphasis on practical application. The course also explores equity and fixed-income management, alternative investments, risk assessment, and portfolio performance evaluation. Delivered through classroom sessions and independent work, assessment is based on assignments and exam. Basic knowledge of finance is required: time value of money, risk and return, financial instruments, capital budgeting
Lecturer: Juan R. Sáenz-Diez

Upon completion of the course the student:
- Understands the principles and process of investment management (Knowledge)
- Applies appropriate methods and tools to form, manage and evaluate investment portfolios (Application)
- Discusses diverse approaches to investment management to make responsible financial decisions (Social)
- Recognises the methods and tools to refine the process of making investment decisions (Individual)
- Assesses risk-return tradeoff and its implications on investment decisions (Transferable)

Corporate Finance - 24ac/h in classrooom - 3 ECTS
The Corporate Finance course provides knowledge and skills for making financial decisions in a business environment. It covers investment and financing decisions, risk and return relationships, capital pricing, and cash flow analysis. The course enhances understanding of strategic financial management and develops practical skills in financial forecasting and investment decision-making. Assessment is based on assignments and an exam. Suitable for students with prior basic financial knowledge.
Lecturer: Taivo Reintal (Nordea)

Upon completion of the course the student:
1. Develops a conceptual understanding of the theory and principles in corporate finance (Knowledge)
2. Applies appropriate methods and tools for financial forecasting, risk management and corporate investment decisions (Application)
3. Discusses social, environmental and ethical implications of corporate financial decisions (Social)
4. Appreciates the knowledge and skills in corporate finance for a managerial career in business (Individual)
5. Acquires reasoning skills applicable in a wide range of industries and roles (Transferable)

 Finance Ethics and Law - 24ac/h in classrooom - 3 ECTS
Covering ethical standards and legal regulations in the financial industry, this course is based on the CFA Institute's Code of Ethics and Standards of Professional Conduct. Topics include insider trading, conflicts of interest, and legal frameworks in Estonia and the EU. Through case studies and practical examples, students learn to analyze and apply ethical principles in financial decision-making. 
Lectures and seminars, independent work with assigned reading and video materials. The emphasis is on the thorough preparation of assigned materials, active participation in discussions, and case analysis. Some sessions start with a short quiz, and the course content is systematically reviewed in preparation for the final exam.
Lecturers: Juan Saenz Diez and Felipe Mohando

Upon completion of the course the student:

1. Understands the principles and guidelines outlined in the CFA Institute's Code of Ethics and Standards of Professional Conduct as well as the general regulations applicable to the financial industry in the European Union. (Knowledge)
2. Demonstrates critical thinking to make informed financial decisions that align business goals, ethical standards and legal requirements. (Application)
3. Discusses the legal and ethical dilemmas in finance industry. (Social)
4. Considers ethical and legal aspects of financial decision making in pursuit of personal and professional goals. (Individual)
5. Analyses the legal and ethical implications of financial decisions. (Transferable)