Contribution for the career guide

by Prof. Dr. Petra Gruner

Training financial experts for Europe's medium-sized companies

The challenges confronting corporate finance have never been so great and this applies both to practice as well as theory.

In the last few years the financial markets have experienced radical changes and financial instruments have been further developed. The media reports daily on initial share issues, financial restructuring measures, ratings, company takeovers, currency exposure and new financial instruments just to mention some of the relevant topics. More recent developments like the introduction of the euro and the expansion of the EU to Eastern Europe - with all the opportunities and risks bound up in these ventures - also bring with them new and additional challenges for the financial management sector.

The time when these developments only affected large concerns is over and in the meantime small and medium-sized companies have begun to recognise the increasing significance of efficient financial management in the success of their business. There is only one problem with this concept. It is often the small and medium-sized companies that lack suitable staff capable of coping with these new challenges. The course of studies offered by FH Coburg, university of applied sciences, leading to a masters degree in "Financial Management" has been designed to help fill this gap.

New Master course of studies “Financial Management”

The aim is to train financial experts that are particularly able to tackle the problems especially facing small and medium-sized companies. This is why the subject content of the Master's degree has been assembled around those topics relating to the financial management area that are currently relevant and will continue to remain so in the future, with especial emphasis placed on the specific tasks and demands of small and medium-sized enterprises. A further feature is the inclusion of an international perspective, and here, above all, the specific situation prevailing in the Central European states.

The Course

The major objective of the Master's course of studies at FH Coburg, university of applied sciences, is to train financial experts that are specially equipped to deal with the current challenges confronting small and medium-sized companies, and this is reflected in the course of studies offered. Small and medium-sized companies tend to require the generalist with detailed expertise and a pronounced range of competence. For this reason the course content has been devised, on the one hand, to encompass a broad base, and, on the other, to undertake a sensible and necessary detailed study of specific problems, assuring that the transition from theory to practice is sufficiently rehearsed by employing suitable teaching methods such as project work.

The course of studies can be subdivided into five broad areas. The lectures and seminars comprising the first block (approximately 25% of the entire course of studies) contain the core subjects involved in Financial Management, such as, for example, Asset and Liability Management, Treasury Management, Risk Management and Corporate Finance. The focus of the lectures and seminars in the second block is on key areas relevant to Financial Management such as, for example, Accounting, Taxation and Law. As it is no longer possible to conceive of financial management without the aid of EDP, the third block of studies centres on the area of information technology (e.g. Information and Communication Systems for Financial Management). Apart from conveying subject matter relating to the financial management problematic, equal emphasis is placed on the development of social competences. This is why the lectures and seminars comprising the fourth block are devoted to the subject of "Personal, Social and Management Competences". The supplemental course components such as project management, business management games, foreign languages and other optional subjects make up a fifth block. The course of studies is complimented by excursions and guest lectures. It goes without saying of course that an internationally focused course of studies will also include foreign guest lecturers.

Who do we want to appeal to?

The MBA is a higher degree with an international focus. It is designed to appeal, firstly, to graduates from German and non-German universities keen to extend their knowledge in the financial management field and who would like to improve their social and methodical competence further and, secondly, to those people that are both interested in obtaining an internationally recognised degree and who aspire to a management position in the commercial world.

To take up studies or to enter professional life often involves an "either/or decision", but this need not apply to the Master's course of studies at FH Coburg, university of applied sciences! The course of studies has been designed so that the MBA can be followed both as a full-time course or as part-time course for those already working in their chosen field. This means that the study can either be taken up directly after a first degree or, however, can be taken after several years of professional experience.

How is the course of studies organised?

The term begins on 1st October each year. The full-time course lasts two years. It is divided up into four terms, one term of which is conceived as a term spent in industry. If the course is taken as a part-time course by somebody already engaged in a profession, the three theoretical full terms are spread over six terms. The lectures and seminars take place every second weekend (Friday from 4 o'clock and the whole day Sunday). In addition, a block week is held (lasting the whole day - Monday to Saturday). A fundamental component of the course is a term abroad. Once the course of studies has been successfully completed, the successful student is awarded the title of "Master of Business Administration/MBA".

Who can study?

The precondition for participation in the Master's course of studies is either a first academic degree in an economics-related subject (bachelor or higher) or another academic qualification and several years professional experience. For an internationally-based course of studies it is clear that some of the lectures and seminars will be held in the English language. This is why sufficient language knowledge is generally assumed. All those interested must also attend a selection interview.

What does it cost?

According to the regulations of the State of Bavaria there will be a tuition fee of 300 Euro for the Summer Term 2007. For the Winter Term 2007/2008 400 Euro and then 500 Euro for each following semester. An internship semester will be tuition free. Therefore, a student starting Winter Term 2006/2007 and completing the study program within 2 years will have to pay a total tuition of 800 Euro for the entire program. An additional enrolment / renrolement  fee of 85 Euro has to be paid every semester.

What benefit does it bring to the degree holders?

First of all it is an internationally recognised qualification, but that alone would not be a sufficient reason to embark on the course. A special feature of the MBA as studied at Coburg Polytechnic is its specific focus. The requirement for support in the financial management field is expected to rise dramatically in smaller and medium-sized companies in particular over the next few years, and Eastern Europe must certainly be considered as an interesting market.

The conveying of sound and up-to-date specialist knowledge is an important aspect at a time during which specialist knowledge is being superseded at an ever increasing rate, but it is equally important to promote and develop methodology. Relatively small groups and a corresponding high degree of guidance are the best preconditions for project work, which can be used to hone the student's ability to apply scientific methods and findings in resolving financial management problems and to generate innovative solutions that can find practical application. The mix of participants spanning young and old students, those with a lesser or higher level of professional experience gathered from different fields both in Germany and abroad is bound to be an enriching experience for those participating. This will also foster the ability to work in a team and social competence as well as intercultural understanding.

What can you do with it?

The field of activity for the successful student spans, in particular, finance management at medium-sized firms operating on the international market. Moreover, employment in a bank or savings bank (here, particularly, activities involving corporate customers), consultancy companies as well as the insurance sector or a capital investment company also represent feasible and possible openings. In view of the broad-based application of the qualification in an increasingly important field, the professional opportunities available to successful students of the course of studies as it is conceived are to be assessed as very good.

Contact address and more information:
Should you require more information, please consult our internet site
http://www.fh-coburg.de/mbafm

send us an e-mail

fm@fh-coburg.de  or contact

Fachhochschule Coburg
University of applied sciences
Faculty of Business Studies
Master of Financial Management
Friedrich-Streib-Str. 2

96450 Coburg

Tel.: +49 9561- 317 325