Paying lifelong investment
HKUST masters programmes in finance are evolving to meet change, reports John Brennan, At a time when the financial services industry has come under increasing levels of scrutiny and regulation...
At a time when the financial services industry has come under increasing levels of scrutiny and regulation, the need for ongoing training of professionals in this field would seem self-evident.
Since their inception in 1996 and 2002 respectively, the Master of Science in Financial Analysis (MSc FA) and the Master of Science in Investment Management (MSc IM) programmes run by the University of Science and Technology (HKUST) have helped satisfy demand.
Professor Peter Ian MacKay is associate head and associate professor in the university's Department of Finance, as well as academic director of both MScs. "The MSc FA programme is designed for executives who are working or planning to work in the finance industry or related functions," MacKay explains. "The MSc IM programme is designed for professionals in finance-related fields interested in acquiring advanced specialist skills in risk and asset management," he adds.
"Both programmes begin with a solid foundation in accounting, economics, quantitative and computing skills, asset valuation and financial derivatives," MacKay says. "After completing the core and required courses, MSc FA students will then have the options of concentrating on either corporate finance or security analysis, or both, by choosing related advanced courses and specialised electives. Likewise, MSc IM students will have the options of concentrating on either asset management or risk management, or both."
The structure of the programmes includes case studies, in-class and online discussions, and projects. The faculty members will also bring the latest market issues that are making the news into the classroom in such forms as class discussions and homework assignments or projects.
"We have also invited, and will continue to invite, market practitioners or field experts to teach our electives," MacKay says. "They will cover practical applications in the context of the courses so that students can apply newly learned knowledge in real business contexts."
He acknowledges that in such a rapidly evolving field the syllabus needs to evolve too. "To keep abreast of changes in the business world, the two master's programmes are subject to ongoing review and new courses are added, or may be added, in the future in response to industry demand."