Certificate in Finance

Purpose of the Certificate in Finance
The Russian economy has been steadily moving toward integration into the world economy. The same holds for capital markets and financial institutions in the country. Before 1998, capital markets (the stock market, GKO trading) were developing very fast. At that time most lucrative jobs were to be found at banks and investment companies. The 1998 crisis hit financial markets severely. Still it was a very important moment that marked the watershed between «wishful thinking finance» and professional and responsible approach to financial decision-making process.

Since then the demand for well-educated financiers has steadily grown. More importantly, now the knowledge of finance in the real sector and at a real enterprise has become in need. AIBEc has been offering courses in finance since its foundation. In recent years, many of them have been reorganized to better reflect the current needs of financial markets in Russia.

Components of the Certificate in Finance
To complete the requirements for the Certificate in Finance, students must complete the following courses:

  • Principles of Corporate Finance
    The course discusses the basic principles of finance (the opportunity cost of capital, the net present value concept, risk and return trade-off, portfolios and diversification), as well as the theoretical basis for financial decision making. It also includes comparisons of the U.S. and the Russian financial systems.

  • Capital Markets and Financial Institutions
    This course is devoted to the nature, role, and functioning of financial institutions. It focuses on ways to alleviate problems caused by private information. Developed and emerging capital markets are compared. Major attention is paid to the interaction between a regular individual and financial institutions in the age of big data, the internet, and social media.

  • Principles of Business Law
    Covers basic US and Russian legal institutions, civil and criminal law, contracts, commercial paper, negotiable instruments, secured transactions, and other topics.

  • Takeovers, Restructuring, and Corporate Governance
    This course examines the process by which takeovers and other corporate control transactions take place and the role of the market for corporate control in leading to economic restructuring and shifts in resource allocation by corporations. Various corporate control battles in the Russian industry are screened against the general theory and Western practice. Of special importance is the discussion of the influence of corporate governance issues on company valuation, especially in emerging capital markets.

  • International Finance and Risk Management
    The course discusses the principles of international finance (economics of the international environment, purchasing power parity, and sources of risk in the international financial markets) and the theoretical background on which the practices of operation of the international financial markets are based.

Optional courses of interest to students in this program include Financial Accounting and Managerial Accounting.

Finance Program Director
The head of AIBEc's finance program is Konstantin Kontor, who holds and MBA from UCLA and has over 20 years of practical experience in capital markets both in Russia and abroad. He is a private consultant in the area of business planning, investments, and strategy. Earlier Konstantin served as Director of Research at RINACO Plus, a major Russian investment company.