How to Manage Finance in a Crisis
Professor Elena Rogova, Dean of the HSE St. Petersburg School of Economics and Management, Academic Director of the ACCA-accredited Master in Finance programme shares her vision on modern education in the area of financial management and building a successfull career in the times of turbulent economy.
As Professor Rogova states, the programme looks forward to enrolling people who have their sights set on an international career, are interested in finance, and able to evaluate risks. These are the people who have the potential to become leading figures in the Russian economy.
The financial expert’s profession is unique in that it is always in demand. Investment experts are in demand during an upturn, and those who are able to find cheap funding and manage risks are also needed in a crisis. Moreover, finance is a truly international field, since, despite particular features of the Russian market, financial managers all over the world use the same tools and speak one language.
That’s why the master’s programme in Finance at HSE St. Petersburg is implemented as a programme aiming at people who will work internationally. Since 2016, the programme has been fully English-taught. It also has ACCA* accreditation, boasts international mobility programmes, and has been accepted onto the IMESS consortium (International Masters in Economy, State and Society) headed by University College London. From 2017 students under this consortium will have an opportunity to gain two degrees, and being part of IMESS means that our students are part of an international educational environment (for application procedure to IMESS programme please click here).
So, what do we teach? Besides courses in corporate finance, theory of finance, investment and financial analysis that are common features of these programmes, and in addition to advanced courses in econometrics, our programmes focus on risk management, primarily for non-financial companies. Many of our graduates work in risk management departments today, since the tools they learn and the skills they master during internships and while working on their theses are in demand in this sector.
Risk management is not the only area of employment for our graduates. We are proud that they work on serious positions in banks (Central Bank of Russia, Sberbank, St. Petersburg Bank), leading Russian companies (Gazprom, MTS, VimpelCom, Megafon, AVTOVAZ), and international corporations (Nissan, JTI, Heineken, Maersk, DHL). They also start their own businesses.
International students can study in the Master's in Finance programme under regular admission (with tuition fee) or under the Russian State Scholarship (quota). Scholarship applications for 2016 are no longer accepted but it is possible to use this opportunity next year – applications will be accepted until June 30, 2017. Application deadline for tuition-based studies for the coming academic year is August 10, 2016.
The admission to this programme is quite selective and requires great motivation, advanced skills in Math and Economics and high proficiencey in English. In return, our graduates benefit from a widely recognized degree, high rates of employability and inernational student body of this programme that allows for establishing great network of professional contacts around the world for future business and professional career.
*АССА (the Association of Chartered Certified Accountants) is the world’s largest professional accountants’ association. Employment in the Big Four companies is impossible without ACCA certification.
The Chartered Financial Analyst Institute (CFA Institute) has recognised the HSE online Master of Finance as part of its University Affiliation Program. The status was assigned this year based on the long-standing cooperation between the CFA Institute and the HSE Banking Institute and the confidence international experts have in the quality of education at HSE.
The HSE Banking Institute is launching a new Master of Finance programme on Coursera. The online programme is English-taught and based on the CFA certification requirements. Professor Vasily Solodkov, the director of the Banking Institute and the academic supervisor of the programme is discussing the programme features.
Graduate of HSE University and University of Luxemburg Tobi Oladiran from Nigeria reflects on his experience and takeaways from the Master’s programme in Strategic Corporate Finance and the double track it offers.
‘The Rich Networking Experience That HSE University Offers Is No Less Important Than Grades And Knowledge’
Why do international students choose HSE University, and what is it like to move to another country? Arslan Shakhnazarov, second-year undergraduate student at ICEF, shared his story and talked about how he, just an ordinary guy from Bukhara, Uzbekistan, chose a university on his own, passed the entrance test to HSE accidentally, found himself in the top 10 of the student ranking, started working at Tinkoff, and still hasn’t stopped dreaming big.
Alexandre Dumas reveals some causes of economic crises, Ernest Hemingway explores financial decision-making, and Fyodor Dostoevsky offers his reader a glimpse into the minds of stock market players. IQ.HSE continues to read fiction from an economists' perspective: HSE Assistant Professor Henry Penikas takes a fresh look at some literary classics.
Researchers from HSE University and London Business School have carried out research into the dynamics of the prices for Russian companies’ stocks and depositary receipts. The research indicates that, thanks to their price differences, there are opportunities for profitable trading with zero or, at least, minimum risk.
The European Foundation for Management Development (EFMD), one of the world's largest professional associations in the field of business and management, has awarded the Master’s Programme ‘Finance’ at the HSE in St. Petersburg an accreditation for a period of three years. This is the first Master’s programme in Russia to be accredited by the EFMD.
Economists of the School of Finance of the Higher School of Economics Victoria Dobrynskaya and Yulia Kishilova analysed secondary market prices of the world-famous toy construction sets released from 1987-2014.
According to international studies, values can impact corporate performance and the bottom line either directly or indirectly. In the paper 'Corporate Values and Profits of Commercial Banks: Correlation with Profits', Elena Prosvirkina and Nikolai Prosvirkin have examined the corporate values commonly declared by Russian banks and found that the widely held values of customer focus and efficiency can bring competitive advantage, but do not impact financial performance directly.