Finance Summer School (2023)

  • Advanced Portfolio Management

    Course Overview and Objectives

    This course aims to cover fundamental and advanced concepts in portfolio theory, focusing both on theoretical and practical aspects of the models. Topics will include return predictability, the effect of estimation error on portfolio performance, and various approaches to cope with estimation error and parameter uncertainty in portfolio construction, including recent applications of financial machine learning.

    Course Contents

    1. Modern Portfolio Theory. Mean-Variance optimization. Portfolio constraints
    2. Time variation in returns. Present value formulas and return predictability
    3. Machine learning algorithms for return predictability and portfolio selection
    4. Factor structures and portfolio risk decomposition
    5. Bayesian methods and Black-Litterman model for portfolio choice
    6. Robust optimization, shrinkage portfolios and out-of-sample performance

    Practical Classes

    The course includes a series of practical sessions that will take place in the afternoon. Students will implement in Matlab and Excel the portfolio optimization techniques covered during the morning lectures. Every participant taking this course will receive a time-limited personal free license of MATLAB several days before the start of the Summer School. Practical exercises will include:

    • Estimation and implementation of multi-factor models; portfolio optimization with constraints on factor exposures.
    • Practical implementation of the Black-Littman model to international asset allocation.
    • Out-of-sample performance: Comparison ofplug-in, shrinkage, Bayesian, and machine learning mean-variance portfolios with and without portfolio constraints

    About the Instructor

    Francesco Sangiorgi is Associate Professor of Finance at the Frankfurt School of Finance & Management. He received his Ph.D. in Economics from Universitat Pompeu Fabra. His research interests span asset pricing, market microstructure, credit ratings, and the interplay between financial markets and corporate decision making. His publications have appeared in the Review of Economic Studies, the Review of Financial Studies, Management Science, and the Journal of Economic Theory. He has taught courses in financial economics, asset pricing and investment management in Master of Science, PhD and executive programs at the Stockholm School of Economics and the London School of Economics.

    Finance Summer School (1)

    (Video) Barcelona Finance Summer School

    Frankfurt School of Finance & Management

  • Corporate Finance

    Course Structure

    This is an introductory course in corporate finance with a focus on capital structure, liquidity, payout policy, and capital budgeting. It comprises a mix of lectures and case studies.

    We first analyze the capital structure decision, accounting for the impact of taxes and other frictions to explain the observed differences in capital structure across firms and industries.

    We then shift the attention to liquidity and payout policy and to how these policies are shaped by market imperfections, such as taxes, agency costs, transaction costs, and asymmetric information. We discuss why some firms pay dividends and some do not, and why some firms prefer share repurchases.

    Finally, we discuss the various methods for computing the value of equity in a firm.

    The course is intended for students with an undergraduate background in business or economics. The course includes a series of practical sessions that will take place in the afternoon. The practical sessions are dedicated to the solution of real business cases, which provide a direct application of the theory discussed in the morning. The business cases require calculations and modelling in Excel.

    Course Contents

    • Investments decisions
    • Capital structure choices
    • Leveraged acquisitions
    • Leveraged recapitalizations
    • Dividend and payout policy
    • Liquidity management
    • Techniques for valuing investments and firms

    About the Instructor

    Filippo Ippolito is Associate Professor of Financial Management at Universitat Pompeu Fabra and research affiliate at the Centre for Economic Policy Research (CEPR), London, and Director of the Master in Finance at the Barcelona School of Economics. Professor Ippolito holds a PhD in finance from Said Business School, Oxford, and an MPhil in Russian and Eastern European Studies from the University of Oxford. He has work experience in the financial and consulting sectors. His research focuses on corporate debt, capital structure, corporate liquidity management and private equity. Professor Ippolito has published in the Journal of Finance, Journal of Financial Economics, Journal of Financial Intermediation, Journal of Monetary Economics, Journal of Money, Credit and Banking, and Journal of Corporate Finance.

    (Video) ReThink Finance Summer School Experience (Italy)

    Finance Summer School (2)

    Filippo Ippolito

    UPF and BSE

  • Empirical Corporate Finance

    Course Overview and Objectives

    The course provides an introduction to the most common empirical methods used to address questions in Corporate Finance. This outline describes the econometric topics covered in the course. Each topic will then be illustrated with applications drawn from the broad corporate finance literature, which includes capital structure, corporate governance, banking, and law and finance. When necessary the course will draw from simulated data or from other subjects, such as for example labor economics, for illustration purposes.

    The course is ideally suited for students who aim to pursue a career in central banking and in financial and regulatory institutions, and more generally for students who aim to pursue a career in financial consulting, investment banking, and corporate finance.

    Requirements

    Student need to have a good knowledge of econometrics. Jeffrey Wooldridge's Econometric Analysis of Cross Section and Panel Datais a good reference.

    Course Outline

    (Video) IMF Summer School: Public Financial Management (PFMx)

    1. Introduction
      • The fundamental problem of causal inference in corporate finance
      • Potential outcome framework, randomized evaluations
      • Applications: Capital structure, corporate governance
    2. Causality in a regression framework 1
      • Conditional Independence Assumption (CIA), selection into treatment
      • Heckman selection model
      • Application: Corporate bankruptcy
    3. Causality in a regression framework 2: Differences-In-Differences (DID)
      • Before and after estimator v DID estimator
      • Parallel trend assumption
      • Application: Law and finance
    4. Instrumental Variables (IV) as “Quasi-Experiments”
      • Angrist-Imbens-Rubin causal model and IV mechanics (constant effects case)
      • Local Average Treatment Effect (LATE) and its IV interpretation
      • Application: Family firms
    5. Regression Discontinuity Designs (RDD)
      • Sharp RDD, Fuzzy RDD, Multidimensional RDD
      • Applications: Financial contracting, mergers and acquisitions
    6. Selection on Observables and Matching
      • Selection on observables
      • Estimation of ATT with matching based on propensity score; sensitivity to CIA
      • Application: Diversification discount

    Practical Classes

    The course includes a series of practical sessions that will take place in the afternoon. These sessions will develop STATA codes to replicate some of the results from the articles discussed in the morning sessions. While doing so, the students will be exposed to practical issues that researchers encounter commonly in empirical corporate finance research.

    The practical sessions are optional and are included in the price of the course.

    Every participant taking this course will receive a time-limited personal free license of STATA several days before the start of the Summer School.

    ECTS and Grading

    On request, students may take an exam to earn ECTS credits. The exam will take place during the afternoon session of the last day.

    About the Instructor

    Stefano Rossi is a Professor of Finance at Bocconi University where he holds the Generali Chair in Insurance and Risk Management. He is an IGIER Fellow, a Research Affiliate of the Centre for Economic Policy Research (CEPR), a Research Associate of the European Corporate Governance Institute (ECGI), an Executive Editor of the Journal of Law, Finance, and Accounting, and an Associate Editor of European Financial Management. Stefano holds a PhD from London Business School and an MSc and BA from Bocconi University. Stefano’s research interests include corporate governance, bankruptcy and financial distress, debt financing, international finance, sovereign borrowing, financing of innovations, and quantitative trading. His research has been published or is to appear in top peer-reviewed journals such as The Journal of Finance, The Journal of Financial Economics, The Review of Financial Studies, The Journal of Monetary Economics and The Review of Finance and has been featured in publications such as The Financial Times and The Economist. Stefano's research on the evolution of ownership (with J. Franks and C. Mayer) was awarded two international prizes for Best Paper by the European Corporate Governance Institute.

    Finance Summer School (3)

    Bocconi University

  • Investments

    THIS COURSE IS NOW CLOSED

    Course Objectives

    The course provides a comprehensive introduction to asset pricing models, with a special focus on their implementation and empirical testing.

    Course Outline

    • Introduction
    • Preferences and portfolio choice
    • Mean-Variance Analysis
    • Efficient Portfolios
    • Asset pricing in equilibrium
    • The CAPM
    • Applications
    • The CAPM in practice
    • Empirical evidence
    • Testing the CAPM
    • Anomalies
    • The Arbitrage Pricing Theory
    • Arbitrage
    • The Law of One Price
    • The APT
    • Multifactor models in practice
    • Factor Analysis
    • Macroeconomic variables as factors
    • Fundamentals

    Practical Classes

    The course includes a series of practical sessions that will take place in the afternoon. In these sessions students will be exposed to practical implementation of asset pricing problems in Matlab and Stata. Every participant taking this course will receive a time-limitedpersonal free license of MATLAB several days before the start of the Summer School.

    ECTS and Grading

    On request, students may take an exam to earn ECTS credits. The exam will take place during the afternoon session of the last day.

    About the Instructor

    Javier Gil-Bazo is Associate Professor of Finance at Universitat Pompeu Fabra and Affiliated Professor of the BSE. His research deals with the study of institutional investors and asset pricing modelling. His work has been published in academic journals such as Journal of Finance, Journal of Banking and Finance, Quantitative Finance, Journal of Financial Econometrics, Journal of Business Finance and Accounting, Journal of Economic Behavior and Organization, and Economics Letters. His work has been awarded with the Best Paper Award at the European Conference of the Financial Management Association, the Honorable Mention of the Moskowitz Prize for outstanding research in socially responsible investing and the BME Best Derivatives Paper Award at the Annual Meeting of the Spanish Finance Association.

    Finance Summer School (4)

    Javier Gil-Bazo

    UPF and BSE

    (Video) Finance@Wharton Summer Camp Vlog

    (Video) Summer Classes Financial Aid: Is It Possible?

FAQs

Are summer school programs worth it? ›

A summer school provides a focused academic environment with smaller classes and fewer learning hours. Because the duration of the study is limited, teachers usually set very precise study goals. You will immerse yourself in a subject and gain a solid grounding in the subject matter.

Which short term course is best for finance? ›

Top 5 Short Term Courses in Finance in India
  • Certified Financial Planner (CFP): ...
  • National Institute of Securities Market (NiSM) Certifications and NSE's Certification in Financial Markets (NCFM) ...
  • Financial Modelling: ...
  • Financial Risk Manager (FRM): ...
  • Chartered Financial Analyst (CFA):

Is LSE Summer School prestigious? ›

LSE Summer School is one of the largest and most prestigious globally.

Does New Zealand have summer school? ›

Any domestic NZ student can enrol in Summer School's programmes. Our teachers are on hand to help you succeed - we will work alongside you to help you gain those last few NCEA credits you need for UE.

Does summer school affect GPA? ›

Raise Their GPA

While letting an elective class go and not retaking it is an option, summer school grades replace the failing grade already earned. That will raise your teen's GPA.

What are the disadvantages of summer school? ›

Con: Summer School Courses Move Quickly

This means your professors have to pack more into each day than they would during the spring and fall semesters. Sometimes the classes are longer, and other times the homework is more intense. You will have tests and quizzes with more regularity.

What certifications can I get in 3 months? ›

Top careers with three-month certificate programs
  • Medical billing and coding specialist.
  • Web designer.
  • HVAC technician.
  • Truck driver.
  • Licensed real estate agent.
  • IT support.
  • Brick mason.
  • Personal trainer.

Which job has highest salary in finance? ›

Highest paying finance jobs
  • Investment banker.
  • Information technology auditor.
  • Compliance analyst.
  • Financial advisor.
  • Insurance advisor.
  • Financial analyst.
  • Senior accountant.
  • Hedge fund manager.

Is finance a tough field? ›

While finance requires some mathematics training and some knowledge and skills in accounting and economics, it's not necessarily more difficult than any other field of study, particularly for people with an aptitude for math.

Is LSE harder to get into than Oxbridge? ›

LSE is among the highest ranking and most sought-after universities in the UK for social sciences. The entry requirements for its most popular courses, such as Economics and Economic History (requires AAB), are often lower than those of Oxbridge and UCL, but just as – if not more – competitive.

What is the best summer school in the UK? ›

Top Summer Schools in UK
  • LSE Summer School, London.
  • University of Oxford Summer School, London.
  • Cambridge Summer School, London.
  • Imperial College London.
  • ISSOS Summer Schools, Cambridge, and St. Andrews.
  • ISSET Space and STEM, King's College London.
  • UCL Summer School, London.
  • Queen Mary Summer School.

Is it hard to get into Ivy League summer programs? ›

As with universities, the more popular the summer program, the harder it is to get into. Generally, those offered by an Ivy League school are the most difficult to qualify for yet the most rewarding. That's why it's important to choose programs within your field of interest to increase your chances of getting in.

How long is summer school in NZ? ›

Summer School delivers a selection of undergraduate, postgraduate and General Education courses over 6 weeks from early January to mid-February, using a short, intensive teaching format.

Do kids go barefoot to school in New Zealand? ›

People very often go barefoot in NZ. What the rules are in school varies with the school. Many of them have to arrive and leave in shoes, but can take them off during the day.

What country has the longest summer break for students? ›

Italy gives its students the longest summer break with 13 weeks of vacation, followed by Portugal and Greece with 12 weeks.

Does Harvard Summer School help you get into Harvard? ›

No. However, attending Harvard Summer School and performing well will strengthen your application to any college or university. Additionally, the Pre-College Program offers many opportunities designed to help you navigate the college application process and enhance your performance in a college setting.

Can I raise my GPA over the summer? ›

Take Summer Classes

Taking summer classes may seem like a drag, but it is one of the best things you can do to boost your GPA. When you retake a course during the summer, you are likely to be in a smaller class. That will give you more one-on-one time with the instructor.

Does taking summer classes help you graduate faster? ›

You'll usually graduate faster.

Taking classes over the summer gives you the opportunity to earn more credits, which can bring you that much closer to graduation. If you don't have anything else going on during the summer, why not use that time to be productive and work toward finishing your degree sooner?

Is summer school good in resume? ›

Summer schools are a great way to add more substance to any CV, especially if the course is relevant to the graduate job that will eventually be applied for. It will give new perspectives on the focus of the job, as well as build up soft skills, such as communication, teamwork and leadership.

Does summer school affect university? ›

Universities don't penalize applicants for taking summer school courses, and many students do complete a required course over the summer.

Is 3 summer classes too much? ›

As mentioned previously, I would recommend not taking more than two 8-week or 10-week courses and limiting yourself to one Maymester (2-week) or one 4-week course. However, you can mix and match your summer courses to fit in 3 or even 4 college classes without burning yourself out.

What is the shortest career to study? ›

Following, you'll find some of the best-paying careers with little schooling required. For many, all you need is a simple two-year associate degree.
...
High-Paying Jobs With Little Schooling Required
  • Police Officer. ...
  • Aircraft Mechanic. ...
  • Mechanical Engineering Technician. ...
  • Radiologic (X-Ray) Technologist. ...
  • Welder. ...
  • Diesel Mechanic.
11 Oct 2022

What trade can I learn in 6 months? ›

  • Real Estate Agent. Selling real estate has limitless potential, and you can get started quickly. ...
  • Commercial Truck Driver. Becoming a truck driver isn't as long a road as you might think. ...
  • Phlebotomy Tech. ...
  • HVAC Tech. ...
  • Certified Nursing Assistant (CNA) ...
  • Personal Trainer. ...
  • Emergency Medical Technician (EMT)

What is the easiest certificate to get? ›

Easy certifications to obtain
  • First aid certifications. ...
  • Project management certifications. ...
  • Software certifications. ...
  • Government certifications. ...
  • Notary public certification. ...
  • Forklift operator license. ...
  • Computer programming certifications. ...
  • Marketing certifications.

Why do finance jobs pay so well? ›

In this environment financial institutions have offered a number of highly priced services that companies and investors find worth the cost. This is a very competitive market and clients pay for what they perceive to be higher returns, less risk and reduced capital costs.

Is finance a high income skill? ›

Financial Skills

All can benefit from someone who is having a strong financial skill. Some of the highest-paying jobs in the finance industry are investment banking, brokerages, retail banking and private equity.

Is it better to get a finance or accounting degree? ›

Finance professionals deal with aspects such as return on investment (ROI) and risk management, and accountants focus on items such as balance sheets and income statements. The field of finance offers more career choices but also less predictability. In some cases, careers in finance might offer higher pay.

Is finance harder than accounting? ›

Generally speaking, people consider accounting majors to be more difficult to study and pass than finance majors. And there are a few different reasons for this. The content of accounting majors is, on average, much more technical than for finance majors, and this can make it more difficult.

Is finance a happy career? ›

According to the survey The Secrets of the Happiest Companies and Employees, finance professionals usually have lower levels of workplace happiness in comparison with employees working in other fields.

Is finance a lot of math? ›

Some of the main math-related skills that the financial industry requires are: mental arithmetic (“fast math”), algebra, trigonometry, and statistics and probability. A basic understanding of these skills should be good enough and can qualify you for most finance jobs.

Where do Oxbridge rejects go? ›

Durham University has long been considered the destination of choice for Oxbridge rejects.

WHAT A levels do Oxbridge not like? ›

Like many Russell Group universities, Oxbridge tends to avoid the “soft subjects,” which include Media, Art and Design and General Studies. If more than one of your A Levels is in these subjects, it's unlikely you'll receive an interview, even if your grades are high.

Is Loughborough or Warwick better? ›

Loughborough has been ranked seventh nationally in The Complete University Guide 2019 – three places higher than last year – and remains the highest ranked university in the Midlands, ahead of over 30 other institutions including Warwick, UCL and King's College London.

Is Harvard summer school the same as Harvard? ›

Harvard Summer School, founded in 1871, is a summer school run by Harvard University. It serves more than 5,000 students per year.
...
Harvard Summer School.
TypePrivate
Parent institutionHarvard Faculty of Arts and Sciences, Division of Continuing Education
DeanSandra Naddaff
4 more rows

Are summer schools Expensive? ›

But there's no denying it: summer school is expensive. The reason why the best summer schools are so expensive lies in a variety of factors, from the quality of teaching and extracurricular activities they offer, to the food, pastoral care and accommodation.

Does Harvard have summer school? ›

Harvard Summer School is an academically rigorous experience for learners of all ages. Live on campus or study online. Join an international program or take one of our 300+ courses for college credit. Choose the summer experience that's right for you.

Does Harvard summer accept everyone? ›

Students enrolled at any accredited university are welcome to apply.

Is Harvard Summer School expensive? ›

The total fee for a Harvard Pre-College Program session is $5,300. The program fee includes tuition, room and board, health insurance, and activity costs for the full two weeks.

Can you get into an Ivy with one C? ›

Since all Ivys use a holistic approach to admitting students, it's entirely possible that someone with a good reason could get admitted with a C or multiple Cs.

Is summer school covered by fees free? ›

Domestic students who are eligible for the New Zealand Government's Fees-Free Tertiary Education initiative will be able to participate in the Summer Start Programme at no personal cost. Otherwise, standard international and domestic tuition and student services fees apply to courses within the Summer Start programme.

Can I get a student loan over summer? ›

You can get a Student Loan and Student Allowance for your summer school study, as long as you meet the criteria.

Can you get student loans during summer? ›

Just like fall and spring semesters, lenders will allow you to take out student loans for summer classes. If you plan to attend summer school, you can borrow what you need to pay for tuition, housing, books, fees, and other related school expenses.

Are teachers allowed to touch students NZ? ›

Teachers are only allowed to carry out a search if there are reasonable grounds for suspecting the student is in possession of something that may cause harm. Teachers can't physically touch the student or use force when they conduct a search.

How old are Year 9 students NZ? ›

The education system for schools is made up of 13 Year levels. Your child's primary education starts at Year 1 and goes to Year 8 (around 5–12 years of age). Your child's secondary education goes from Year 9 to Year 13 (around 13–17 years of age).

What grade is a 10 year old in NZ? ›

Intermediate school: Years 7–8 (ages 10–13). Only two non-state intermediate schools exist. Secondary school: Years 9–13 (ages 13–18). Year 7–13 secondary school or Secondary school with intermediate: Years 7–13 (ages 10–18).

What is the shortest summer break in the world? ›

By contrast, kids in South Korea get an average of just 4 weeks off school, the shortest Summer break in the world.

What country has the shortest days of school? ›

Finland School Hours

Typically, the Finnish school day starts anywhere from 9 to 9:45 a.m., and students typically spend only about five hours a day in the classroom. What's more, Finnish students typically have little to no homework.

What country has 3 hours of school? ›

In Finland, children get a 15-minute break every 45 minutes.

This equates to an average of three hours and 45 minutes of educational instruction each day.

Do universities care about summer school? ›

A common myth exists that Universities are less likely to accept applications from students who have summer school in their records. That is not necessarily the case. Universities don't penalize applicants for taking summer school courses, and many students do complete a required course over the summer.

Do summer programs look good for college? ›

Did you know summer activities can push your college application to the “yes” pile? Colleges want to see that you are committed to extracurriculars throughout the school year, but they also love it when you are making the effort to expand and stretch yourself over summer vacation.

Do summer programs matter? ›

Summer programs can give you the opportunity to explore things you're curious about in ways that you can't in school or even through extracurricular activities during the academic year. They can also help you take your work in an area to the next level and clarify your specific areas of interest.

What are the benefits of summer programs? ›

The Benefits Of Summer Schools
  • Develops a Social Understanding. ...
  • Increases Confidence and Social Skills. ...
  • Develops Academic Skills and Learning. ...
  • Summer Education Gives Students An Edge Applying to University. ...
  • Promotes Physical Activity. ...
  • Creates International Friendships. ...
  • ISSOS International Summer Schools.
14 Apr 2022

Is summer school in college usually hard? ›

Not academically harder per se, that's very course-specific, but pacing wise it can be more overwhelming if you are not used to consuming so much information at once or dedicating a lot of time to studying. However, summer classes can be easier too because the semester is shorter.

Does summer break help or hurt students? ›

Along with relaxation, summer break brings unique opportunities to learn and develop social skills. New educational and social experiences can happen at the park, or during family vacations and other outings where children can freely and organically practice appropriate interactions.

Do universities look at grade 11 marks? ›

University Admission Requirements

In some cases, universities will consider your Grade 11 U/M grades for early offers of admission, where Grade 12 U/M grades are incomplete or not available.

Can summer classes raise your GPA in college? ›

Take Summer Classes

Taking summer classes may seem like a drag, but it is one of the best things you can do to boost your GPA. When you retake a course during the summer, you are likely to be in a smaller class. That will give you more one-on-one time with the instructor.

Do summer programs impress colleges? ›

Another advantage of summer programs is that they look great on college applications—they demonstrate a love of learning and show a student's desire to immerse themselves in interesting subjects.

Do Ivy League summer programs help? ›

Working during your summer vacation is also impressive to Ivy League schools. It is not just for financial support; it also shows that you are willing to spend your free time working on skills in your areas of interest. Check out these three work opportunities and internships.

Is Harvard summer selective? ›

The Harvard Summer School study abroad programs seek motivated, independent students who are eager for a unique academic challenge. All programs are selective and have limited enrollment.

Do summer schools help in admissions? ›

Adding a rigorous summer course to your application will also prove to admissions officers that you are serious about your subject and ready to commit. For example, one of the most important things you need in order to apply to medical school is evidence of practical work experience.

Why do most kids go to summer school? ›

Summer school is an academic program that takes place during summer break. It might be purely academic or it might include recreational activities as well. Kids who are behind in basic subjects, at risk of not graduating, or need to work on their executive functioning skills might benefit from summer school.

Why should I join a summer program? ›

But many students choose to take part in special summer learning programs to: Explore their interests. Develop new skills. Get hands-on experience that a classroom doesn't offer.

Videos

1. Introduction to International Finance Summer School
(Economics Department, Oxford University)
2. Durham Islamic Finance Summer School
(DurhamUniversity)
3. ReThink Finance Summer School Experience (Poland)
(RETHINK FINANCE PROJECT)
4. Andrea Eisfeldt from UCLA on Human Capital [Lecture #1 in Macro Finance Society Summer School 2020]
(Macro Finance Society)
5. College Fit & Finance Summer School: Public Service Loan Forgiveness
(CPN Hownikan)
6. Accountancy and Finance Online Summer School - Applying for Roles
(First Intuition)
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