Term 0 - Introduction Modules (optional)
ISCTE Business School offers an introductory term consisting of Fundamentals of Computational Finance.
This special module will provide students with several tools so they can tackle some of the more demanding courses within this master programme.
|1st Semester (September - January)||ECTS||2nd Semester (January - May)||ECTS|
|Corporate Finance||6||Corporate Valuation||6|
|Financial Options||6||Elective in Finance area||6|
|Futures, Forwards and Swaps||6||Elective in Finance area||6|
|Quantitative Methods for Finance||6||Free Option||6|
||To be announced|
|Master Project in Finance or Master Dissertation in Finance||54|
Note: The courses below are examples of modules which may be offered; however, the School reserves the right to alter, omit or add optional modules within the overall framework described above:
- Financial Corporate Strategy
- Real Options
- International Finance
- Portfolio Management
- Risk Management
- Forecasting Methods
- Elective courses from other masters
- Business Ethics ( as part of the CFA - Chartered Financial Analyst - program), Greg Dienna, Wealth Manager in the New York office of Manchester Capital Management LLC;
- Markets Manipulation and Abuse, Toni Buric, former MSc Finance student and now Associate in Surveillance Department at Zagreb Stock Exchange;
- Financial Products Regulation, Rui Correia, Independent Senior Consultant and Trainer for Financial Markets;
- Trade Finance, Duarte Pedreira, former MSc Finance student and now Head of trade finance at Crown Agents Bank.
Microstructure, Trading, and Bloomberg Program at the University of Delaware, United States*
A week residential stay at the University of Delaware gives students access to real-time, hands-on professional industry applications and tools.
The Program takes place at the Michael and Rosann Geltzeiler Trading Center, a facility designed to replicate the trading floors in investment banks, brokerage houses and hedge funds on Wall Street. It uses the same hardware, software, networks and market data feeds that are found in every financial institution throughout the world.
Reuters and Bloomberg provide access to historical and real-time data on different securities, including stocks, bonds, commodities, futures, currencies, options and other derivative products. These systems also provide a variety of analysis both fundamental and technical.
The Program also provides the opportunity for students to have direct contact with companies and institutions in the local financial industry. Past editions included visits to the New York Stock Exchange, Bloomberg, and Vanguard Corporation in Philadelphia (The Vanguard Group is the largest provider of mutual funds in the world)
This Program is therefore and unique opportunity for our students to obtain a valuable international experience.
Participation in the training program at the University of Delaware includes**:
1. Round-trip flight tickets Lisbon-Delaware;
2. Accommodation in the US during the training program;
3. 12-hour training in “Market Microstructure";
4. 15-hour training in "Trading";
5. 10-hour training in the "Bloomberg online program";
6. Round-trip train tickets Delaware-New York for a visit to New York's financial district.
*The participation in this program is limited to 30 students and is offered exclusively to the best 30 candidates admitted to the Master (25 places are reserved for the best candidates admitted in admission round 1). Tuition fees account for travel and accommodation for these students.
**Please note that the final program is subject to change
Academic Year 2019/2020 (subject to changes)
|Welcome Day|| September
|Period of Lectures||02-09-2019
|Second Chance Exams||N/A||N/A|
|Period of Lectures||03-02-2020||29-05-2020|
|Second Chance Exams||N/A||N/A|
Note: Some exams may take place out of this period
|Finance Seminars||September and October 2020
|Master Project in Finance or Master Dissertation in Finance||Delivery no later than September 2021|
Note: some changes can be made yet to the calendar. Students should NOT book their flight back before knowing the exact dates of all examinations, including Second Chance exams.
Our world-class faculty has many years of international experience and a uniquely diverse set of research interests. They offer students the opportunity to acquire a first-hand knowledge of cutting-edge developments worldwide. IBS finance faculty members have an outstanding research track record, publish regularly in the world's foremost speciality journals, and are active players in the finance field. IBS has to its credit:
• A full-time faculty with PhDs from well-known universities such as Reading and Warwick (UK), European University Institute (Italy), Vanderbilt University, Carnegie Mellon University, North Carolina and University of Illinois (US), and Lausanne (Switzerland). This diversity confers on the programme an international outlook and state-of-the-art instruction in finance;
• A part-time faculty with professors of finance, who are prominent in the business world and whose experience can better help to connect students to the real world of finance through classes and workshops, giving them an inside view of how the industry really works;
• A shared goal to provide an outstanding learning experience with every course; each learning module is closely supervised and evaluated, to assure our School's reputation for exceptional teaching and curriculum quality.
Master of Finance - Faculty
Dr. Barbosa has a PhD in Industrial Administration (Finance) from the Carnegie Mellon University and currently holds the title of assistant professor of Finance at IBS. His research interests include information economics, asset pricing and market microstructure and he enjoys the theoretical side of finance. 'Seeking inspiration' is often used by Dr. Barbosa as an excuse for mountain biking.
António GOMES MOTA
With a PhD degree in Finance from ISCTE Business School, Dr. Mota was de Dean of IBS from 2003 to 2012. He has extensive experience in the finance industry, as a top executive of several financial institutions. He has also held several non executive board position in large Portuguese public companies. Currently, he is Board Member of the Supervisory Board of EDP and Chairman of the General Council of Fundo de Contragarantia Mútua. He is the author of several books on corporate finance, corporate restructuring and investments.
António FREITAS MIGUEL
António Freitas Miguel is an Assistant Professor of Finance at ISCTE Business School. He is the Director of the MsC in Finance since September 2015. He has a PhD in Finance from ISCTE Business School and a Postdoc in Finance from Cass Business School, London. He had visiting positions at The University of Miami Business School, Florida, and at The University of Sydney Business School. He has a large experience teaching Undergraduate, Postgraduate, MBA and Executive programs, and he was awarded twice the best teacher prize for excellence in teaching. His research interests include mutual funds and international investments and he is a research member of the Business Research Unit - ISCTE-IUL Research Centre, and of the Cass Business School Centre for Asset Management. He gained a Post-Doctoral Scholarship and a Sabbatical Grant, both from the Portuguese Foundation for Science and Technology. He also obtained research grants from the Portuguese Foundation for Science and Technology for the project "Performance Persistence and The Smart Money Effect in Mutual Funds - International Evidence" , and for the project "Mutual fund management, national culture and markets integration" . His research has been published in top tier journals, including the Review of Finance and the Journal of Banking and Finance.
Helena Pinto de SOUSA
Helena Pinto de Sousa holds a Masters in Finance degree from the London Business School (United Kingdom). She is a part-time professor at ISCTE Business School. She has extensive experience as a strategy and finance consultant, both in Portugal and in the UK, helping companies that range from the FTSE100 to small start-ups.
João Pedro NUNES
With a PhD in Finance from the University of Warwick (UK), Dr. Nunes is an associate professor of Finance at IBS, the Chair of the Department of Finance, director of the Executive master's in Financial Markets and Asset Management as well as the director of the master in Mathematical Finance. His current research interests include term structure modeling and option pricing. He has published in Mathematical Finance, Journal of Financial and Quantitative Analysis, Review of Derivatives Research, Journal of Derivatives and the Journal of Futures Markets.
José Carlos DIAS
Dr. Dias holds a PhD degree in Finance from ISCTE-IUL Business School. He is currently Assistant Professor of Finance and Director of the Master in Finance at ISCTE-IUL Business School. His current research interests include option pricing, exotic options, real options, and credit risk. He has published in the Journal of Banking and Finance, Quantitative Finance, European Journal of Operational Research, European Journal of Finance, and Journal of Futures Markets.
José DIAS CURTO
Dr. Dias Curto is currently Associate professor in the Quantitative Methods department and Director of the Master in Management at ISCTE-IUL Business School. His research is broadly on statistics and econometrics applied to finance and accounting. He has published his work on the International Statistical Review, Journal of Business Ethics, Statistical Papers, Journal of Applied Statistics, Nonlinear Dynamics, European Management Journal, Journal of International Financial Markets, Institutions and Money, Review of Quantitative Finance and Accounting, European Accounting Review and Australian Accounting Review. He has got his Ph.D. in Quantitative Methods for Management from ISCTE-IUL.
José Paulo ESPERANÇA
With a PhD in Economics from the European University Institute (Italy), Esperança is a professor of Finance and the chairman of AUDAX, the IBS Centre of Entrepreneurship, which is aimed at promoting, assisting and financing start ups. His research interests include corporate governance, capital structure of SMEs and entrepreneurial finance and his research has been published in leading finance journals.
Dr Laureano is an assistant professor at IBS- ISCTE Business School. He holds a PhD in Finance from ISCTE-IUL. His research interests are in the areas of corporate finance and financial markets. He has published in the Journal of Financial Economics.
Dr Alpalhão holds a PhD degree in Finance from ISCTE Business School. He is a part-time professor. He is currently the CEO of FundBox, a leading real estate fund management company and was formerly the CEO and an executive board member of several financial companies in Portugal.
Dr. Sebestyén holds a PhD in Economics from the University of Alicante (Spain). He is currently an Assistant Professor in the Department of Finance of ISCTE-IUL Business School. His research interests include financial econometrics, empirical asset pricing, term structure modeling, credit markets and monetary policy.
In the scope of this programme, ISCTE Business School provides a Welcome Day to its students, which consists in a Welcome Session with the Dean of the School, all of the Directors of masters, and a presentation from ISCTE Junior Consulting, ending with a guided visit to ISCTE’s facilities.
The best and most memorable programmes are distinguished from the first moment. ISCTE Business School organizes the first day of classes for team building activities that since the beginning of his academic life, the true freshmen create team spirit and friendship.
These activities will allow the student to:
- Get to know your colleagues in a relaxed and friendly environment enabling contact and networking;
- Discover IBS reality, the environment, infrastructures and support services;
- Start the process successfully of changing a high school student to an undergraduate student mind-set;
- Realize the new challenges that expecting a student of Masters and their professional opportunities and contact with the testimonials from alumni.
IBS Mentoring Programme is a personal development project, reserved for our best Masters Students. Through this programme, they can contact a former IBS Student.
The aim of this programme is to allow students to complement their academic background and training at ISCTE Business School with a better knowledge of the economic and business reality where they will integrate in the near future.
With their mentors, students have the opportunity to discuss their academic progress and career prospects, and benefit from their recognised professional experience that will help them clarify many of the most pressing issues.
For more information about IBS Mentoring Programme, contact email@example.com
Tiago Gonçalves, IBS Mentor
Manager planning and controlling management at EDP innovation and EDP ventures
BSc in Management 2006
"On a personal level has been truly rewarding to contribute in some way, through my career, experience and knowledge for a whole new generation of managers. It is certainly an enriching experience for Mentors, forcing them to resume contact with life and academic difficulties and concerns that students face today.
The Master in Finance Program and ISCTE Business School provide several scholarships to recognize academic excellence that our candidates and students can apply to:
* Master in Finance Admission Awards
* ISCTE Business School Admission Awards
* Teaching and Research Assistant Program
* Best Student Award
Master in Finance Admission Awards
The Master in Finance admission awards offer the following scholarships (all scholarships are deducted from the tuition fees):
- Top Candidate Scholarship - rewards the 10 best candidates admitted and registered to the Program in admission round 1:
- Best student - full tuition fees (1st and 2nd Years);
- 2nd and 3rd best students - 50% of the tuition fees (1st and 2nd Years);
- 4th to 10th best students – 20% of the tuition fees (1st and 2nd Years).
- Top International Candidate Scholarship - rewards the 5 best international candidates admitted and registered to the Program in admission round 1. (International student status).
o Tuition fees equal to the EU students - corresponds to a reduction in the tuition fees of € 1,900 (1st and 2nd Years) in the 2019/2020 academic year. Colocar link para tuition EU students
Click below for detailed information
Master in Finance Admission Awards
The ISCTE Business School strives to promote and develop a culture of merit. In order to highlight and reward the best students, and to value their individual effort and performance, the School has created incentives and goals for our students to strive towards.
ISCTE Business School Admission Awards *
Students who have concluded a Undergraduate Degree in an international or national university with at least one of the three international “Triple Crown” accreditations (AACSB, AMBA or EQUIS) and with a GPA (Grade Point Average) of between 15 and 20, on a scale of 0-20 are eligible to the Admission Award.
The Admission Award is indexed to the GPA as per the following table:
Undergraduate Degree GPA**
15 (on a scale of 0-20)
20% of the 1st year's tuition fee
16 (on a scale of 0-20)
40% of the 1st year's tuition fee
17 (on a scale of 0-20)
Full tuition fee of the 1st year’s Master Programme
** Students from International universities should submit their final classification to the conversion rule between ECTS echelons and the classification scale of the ISCTE Business School (from 0 to 20), according to the following:
“A” – Final classification between 16 and 20; “B” – Final classification between 14 and 15; “C” – Final classification of 13; “D” – Final classification between12 and 11; “E” – Final classification of 10; “F” – Final classification of 9 or below. Students whose evaluation on the above scale places them between two points should be given the award indexed to the lower evaluation.
To be eligible for the Admission Award, students must be accepted for a Full-time Master Programme managed exclusively by IBS.
The information here in is additional o the general rules of ISCTE-IUL which should also be read carefully.
See the regulations here.
*Subject to approval
Teaching and Research Assistant Program
This program is aimed at the best students of the 1st Year of the Master's Program. The 3 best candidates to the Teaching and Research Assistant Program will be offered a 10-month tutoring contract with a total remuneration of € 5,237.80 (10 months x € 523.78) for a total of 198 hours of work. Key responsibilities of a teaching and research assistant include supporting faculty in their academic research, marking exams and assignments, and academic assistance to students.
Click below for further information
Teaching and Research Assistant Program
Best Student Award
The ISCTE Business School awards a prize of €1,500 to the best student in each IBS Masters Programme.
EY rewards the best student of the MSc in Finance
For further information, please contact the IBS Masters Programmes office: firstname.lastname@example.org
Tuition Fees for National Students 2019/2020
|1st Year||€ 5.950|
|2nd Year (dissertation/project)||€ 1.950|
During the first year the tuition fee can be paid either in one lump sum or spread over nine instalments.
For the 1st Year:
|1st installment||€ 750||in enrollment|
|2nd installment||€ 650
||Until 15 October 2019|
|3rd installment||€ 650||Until 15 November 2019
|4th installment||€ 650||Until 15 December 2019|
|5th installment||€ 650||Until 15 January 2020
|6th installment||€ 650||Until 15 February 2020
|7th installment||€ 650||Until 15 March 2020
|8th installment||€ 650||Until 15 April 2020|
|9th installment||€ 650||Until 15 May 2020|
Tuition Fees for International Students* 2019/2020
|1st Year||€ 7.000|
|2nd Year (dissertation/project)||€ 2.800|
International students are expected to pay the whole fee for each year in a single lump sum at enrolment.
This tuition fees include:
- Travel and accommodation for the best 30 candidates (25 from admission round 1) admitted to the Master for the Microstructure, Trading, and Bloomberg Program at the University of Delaware, United States;
- Free access to all IBS facilities and general services.
*The international student status is applied to students who:
- Are not nationals of a Member State of the European Union;
- Have foreign nationality different from that of a Member State and are legally resident in Portugal for less than two years, uninterrupted, on August 31 of the year in which they wish to join the ISCTE and children residing with them legally **;
- The nationality is not an African Portuguese speaking country, PALOP (As Deliberation of the Board of Management of ISCTE-IUL).
International Students must pay the whole tuition fee each year in a single lump sum at the enrolment.
** For residence time score effects in Portugal, does not fall time with a residence permit for study.
The application of international students to the masters of ISCTE-IUL is done online through the same portal as national students acess.
European Union (EU) and EEA (Iceland, Liechtenstein and Norway) citizens have the right to move to another EU Member State to live, study and work, but should contact the Department of Immigration and Border Control (SEF) after arriving in Portugal. Evidence will have to be provided of enrolment at ISCTE, as well as proof of health insurance coverage and sufficient financial resources.
Nationals of non-EU or non-EEA countries must apply for a study visa, which is a special permit granted to foreign students coming to Portugal. This visa must be obtained from the consular section of the Portuguese embassy or consulate in the country of residence. Should you have any doubts, please check with your local Portuguese embassy or consulate. The study visa may be granted on a multiple entry basis and is valid for one year.
The Portuguese Public Health System covers students from the EU holding a valid document issued by the health authority of the country of origin.
If you have private health insurance, ask your insurance company if it can provide extra medical coverage for your stay abroad. Be sure that your current health insurance policy is valid until the end of the programme. If you are not an EU citizen, check what documents you need to receive assistance in Portugal on your current health care plan. You must be sure you have appropriate medical coverage for the duration of your studies in Portugal.
The MSc in Finance has an employment rate of 100% up to 6 months after completion of Programme.
The vast majority of our students find a job after completing the first academic year. Many begin to work even before finishing their first year.
IBS Career Forum presentations in class by companies contribute in a decisive way to these results. The IBS Career Forum is a job fair targeted for ISCTE Business School students, which takes place annually at the ISCTE-IUL Campus. This event is organized by IBS Career Services and is established as a privileged way to foster the relationship between IBS students and key recruiting companies. IBS Career Services is a leader in recruitment at universities.
The sectors most represented in the recruit of masters’ graduates are the Industry & Energy, Consulting & Audit and Information Technology. In this range of sectors, some of the major recruiters are Deloitte, EY, Galp Energia, Novabse and REN.
Some of the companies that hire masters students of IBS:
Getting a job
Students from European Union member states don't need, in most cases, a work permit and have better chances finding work, especially with Portuguese language skills.
Students from outside the European Union holding a study visa, may do complementary work while pursuing the studies for which the visa was granted. A work contract might be requested. For further information, please check the site of the Portuguese Service for foreigners and border affairs SEF (Serviço de Estrangeiros e Fronteiras).