Programutvalget for masterutdanningen

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1 Møtebok: Programutvalget for masterutdanningen ( ) Programutvalget for masterutdanningen Dato: Sted: S218 Notat:

2 Saksliste Vedtakssaker 52/15 Godkjenning av møteprotokoll og møteinnkalling PMU 3 53/15 PMU - kurstilbudet våren 2016 tentativt høsten /15 Oversikt over begrunnelser og klager på master våren /15 Opptaksrapport høst /15 Innføring av veiledningskontrakt - 3. behandling /15 Progresjon/spesialisering innenfor hovedprofiler /15 Analyse kursstørrelser /15 Budsjettinnspill 2016 fra PMU /15 Dekanen orienterer - PMU /15 Eventuelt PMU 136 Orienteringssaker

3 GODKJENNING AV MØTEPROTOKOLL OG MØTEINNKALLING PMU Saksbehandler Marianne Eskeland Arkivreferanse 15/ Utvalg Møtedato Utvalgsnr Programutvalget for masterutdanningen Forslag til vedtak: Møteprotokoll for 6/15 og møteinnkalling til 7/15 godkjennes. 1

4 PMU - KURSTILBUDET VÅREN 2016 TENTATIVT HØSTEN 2016 Saksbehandler Torill Husebø Arkivreferanse 15/ Utvalg Møtedato Utvalgsnr Programutvalget for masterutdanningen Forslag til vedtak: 1. Det framlagte undervisningstilbudet for våren 2016 blir godkjent. Det tentative tilbudet for høsten 2016 blir tatt til orientering. 2. Følgende nye kurs blir godkjent: Vår 2016: US45x Corruption Incentives, Disclosure and Liability (RRR) US45x IFRS II: Financial Reporting (RRR) BUS45x Enterprise Risk Management: Principle and Methods (FOR) ECN43x Applied Data Analysis of Firm Strategy and Competition (SAM) ENE4xx Seminar: ENE Value Chains Learning by Serious Games (FOR) FIE4xx Financial Engineering (FIN) Til orientering: BUS451 Økonomisk styring i endring (RRR) Nytt kurs våren 2016, innmeldt tidligere og godkjent på fullmakt av dekan. 3. Følgende nye kurs blir godkjent som innvalgskurs i andre profiler: BUS45x Corruption Incentives, Disclosure and Liability: Flere profiler 4. Navneendring på følgende kurs blir godkjent: BUS420 Økonomisk styring i praksis. Tidligere: Strategisk økonomistyring (blir gjeldende fra vår 2016). 5. Følgende kurs får godkjent endring i vurderingsform: ECN401 Applied Microeconomic Theory: From 100% 4-hour school exam to 70% 3-hour school exam and 30% two written assignments. FIE437A Valuation: From Group Based Reports (40%), Multiple Choice Tests (30%), Presentations (20%), Class Participation (10%) to Group Based Reports (40%), Multiple Choice Tests (40%), Presentations (20%), Class Participation/Attendance (Pass/Fail). 1

5 2 FIE443 M&A: From 40% class participation and 60% term project to 40% class participation, 50% term project and 10% peer evaluation. STR421 Competitive Strategy: From a 100% group-based course paper to 50% 3-hour school exam and 50% course paper. 6. Følgende kurs får innvilget søknad om adgangsbegrensning: FIE4xx Financial Engineering: 30 studenter (vår) FIE443 M&A: 40 studenter (vår) FIE435 Financial Modelling: 50 studenter (vår) STR433 Etisk handling: Individ, organisasjon og samfunn: 35 studenter (vår) ENE432 Measuring Sustainability in Accounting and Finance: 40 studenter (høst) 7. Følgende kurs får innvilget ønske om å få gå intensivt våren 2016: BUS45x Enterprise Risk Management: Principles and Methods 8. Følgende kurs får godkjent endring i undervisningssemester: BUS447 Financial Reporting IFRS. Flyttet fra vår til høst. 9. PMU orienteres om redusert eksamenstid fra og med høst 2015: FIE402N/E Corporate Finance søker om redusert eksamenstid fra 4 til 3 timer. Det foreligger godkjenning fra dekan. 10. Liste over CEMS-kurs godkjennes. Dekan gis fullmakt til å vurdere ytterligere forslag. 11. Øvrige endringer i kursbeskrivelser (vedl.5) godkjennes. Dekan får fullmakt til å godkjenne endringer i kursbeskrivelser som ikke foreligger per i dag, men som vil bli ettersendt fra instituttene. 12. Ytterligere vedtak blir fattet i møtet. Bakgrunn: 1. I sammenheng med innhenting av undervisningstilbudet for våren 2016 og det tentative for høsten 2016 er instituttene bedt om å sende inn ønsket tilbud. En samlet oversikt over kurstilbudet for master er lagt ved (vedl.1). De viktigste punktene for våren 2016 er trukket fram under. 2. Nye kurs Vår 2016: o Institutt for Regnskap, Revisjon og Rettsvitenskap ønsker å tilby tre nye kurs: US45x Corruption Incentives, Disclosure and Liability, BUS45x FRS II: Financial Reporting

6 BUS451 Økonomisk styring i endring. Det siste kurset er godkjent av dekan på fullmakt. Nye kursbeskrivelser og uttalelser fra profilkoordinator er lagt ved for de to første kursene (vedl.2, vedl.3 og vedl.4) o Institutt for Foretaksøkonomi ønsker å tilby to nye kurs: BUS45x Enterprise Risk Management: Principle and Methods ENE4xx Seminar: ENE Value Chains Learning by Serious Games Kursbeskrivelser og uttalelse fra profilkoordinator ettersendes så snart dette er klart. o Institutt for Samfunnsøkonomi ønsker å tilby ett nytt kurs: ECN43x Applied Data Analysis of Firm Strategy and Competition Kursbeskrivelse er lagt ved (vedl.2), med uttalelse fra profilkoordinator (vedl.6) o Institutt for Finans ønsker å tilby ett nytt kurs: FIE4xx Financial Engineering Kursbeskrivelse er vedlagt (vedl.2), med uttalelse fra profilkoordinator (vedl.7) 3. Nye innvalgskurs Profilkoordinatorene har blitt forelagt kurstilbudet for våren 2016 og tentativt høsten 2016 og fått anledning til å gi innspill på kursporteføljen. o Profilkoordinator for ECO-profilen stiller spørsmål ved at BUS45X Corruption Incentives, Disclosure and Liability er lagt til i flere profiler uten at dette er forelagt profilkoordinatorene. Det opplyses fra RRR at det vil bli søkt til senter for etikk om godkjennelse som etikk-kurs. 4. Navneendring Følgende kurs ønsker å bytte navn: o BUS420 Økonomisk styring i praksis. Tidligere: Strategisk økonomistyring. Kurset skal fortsette å gå på norsk. Behandling utsatt fra våren Blir gjeldende fra Endringer i vurderingsformer Følgende kurs ønsker endring i vurderingsform: o ECN401 Applied Microeconomic Theory: Ny kursbeskrivelse vedlagt (vedl.5), samt begrunnelse (vedl.12) o FIE443 M&A: Ny kursbeskrivelse vedlagt (vedl.5), se også (vedl.8) o FIE437A Valuation: Ny kursbeskrivelse vedlagt (vedl.5), samt kommentarer fra kursansvarlig (vedl.9) o STR421 Competitive Strategy: Ny kursbeskrivelse (vedl.5), samt begrunnelse (vedl.11) 6. Adgangsbegrensede kurs våren 2016 Følgende kurs har søkt om adgangsbegrensning 2016: o FIE4xx Financial Engineering: 30 studenter. Inkludert i kursbeskrivelse som er godkjent av dekan. 3

7 4 o FIE443 M&A: 60 studenter (vedl.8) PMU har tidligere forespurt mulig dublering av faget. Institutt for Finans stiller seg positivt, men gjennomføring er ikke mulig i 2016 grunnet forskningstermin. o FIE435 Financial Modelling: 50 studenter Reduksjon fra 60 til 50 studenter grunnet romressurs og pedagogisk opplegg. o ENE432 Measuring Sustainability in Accounting and Finance: 40 studenter (høstkurs, foreligger ikke søknad, men inkludert i kursoversikten (vedl.1)) o STR433 Etisk handling: individ, organisasjon og samfunn: 35 studenter (vedl.13) 7. Intensive kurs våren 2016 Følgende kurs har søkt/markert ønske om å få gå intensivt høsten 2015: o BUS45x Enterprise Risk Management: Principles and Methods. Markert i kursoversikten (vedl.1). Kursansvarlig ikke bestemt ennå. 8. Endring av undervisningssemester o BUS447 Financial Reporting IFRS. Flyttet fra vår til høst. 9. Redusert eksamenstid: o FIE402N/E Corporate Finance søker om redusert eksamenstid fra 4 til 3 timer (vedl.10). Det foreligger godkjenning fra dekan. 10. CEMS-kurs o Tilbud av ønskede CEMS kurs finnes i vedlegg14. Gjennomgått av CEMS academic director i forkant av utsendelse til PMU. Vedlegg: 1. Undervisningstilbudet Vår 2016 og tentativt Høst Kursbeskrivelser nye masterkurs 3. Nytt BUS-kurs Corruption uttalelse fra profilkoordinator 4. Nytt BUS-kurs IFRS II uttalelse fra profilkoordinator 5. Samledokument kursbeskrivelser med endringer 6. Nytt kurs i ECN-profilen uttalelse fra profilkoordinator 7. Nytt FIE-kurs Financial Engineering uttalelse fra profilkoordinator 8. FIE443 begrunnelse for adgangsbegrensning 9. FIE437A kommentarer til vurderingsendring 10. FIE402N/E søknad om reduksjon av eksamenstid 11. STR421 begrunnelse for vurderingsendring 12. ECN401 begrunnelse for vurderingsendring 13. STR433 Søknad om adgangsbegrensning 14. Liste over CEMS-kurs

8 SAMLET KURSTILBUD MASTERSTUDIET VÅR 2016 OG TENTATIVT HØST 2016 Kode BUS Kursnavn (kjernekurs Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk eller valgbart) BUS400E Management Control S. Juranek FOR X Mindre endringer i kursbeskrivelse, oppdatert Engelsk versjon vedlagt BUS400N Styring av større foretak Kjernekurs I. Bragelien FOR X Norsk BUS401 / MRR415 Strategiske lønnsomhetsanalyser og prising Kjernekurs Trond Bjørnenak (høst) / Kenneth Fjell og Kari Nyland (vår) RRR X X Gis både høst og vår BUS403E Supply Chain Management Kjernekurs S.-L. Nonås / P. Agrell FOR X Engelsk BUS420 Økonomisk styring i praksis Bino Catasus RRR X Nytt kursnavn, Professor II Norsk X 40 studenter BUS422 Investeringsanalyse J. Bengtsson FOR X Norsk BUS423 Simulation of Business Processes E. Bjørndal FOR X Engelsk BUS427 Advanced Management Accounting Bjørnenak, Fjell, Kaarbøe RRR X Engelsk Advanced BUS428 Økonomisk organisasjonsteori O. Kvaløy FOR X Professor II Norsk X BUS429 Dynamic Pricing and Revenue Optimization Z. Pang FOR X Professor II Engelsk X BUS432 Operasjonell planlegging E. Bjørndal / M. H. Bjørndal FOR X Foreleserne har planer om å endre kursbeskrivelsen. Ettersendes. BUS438 Strategisk outsourcing og franchising Ø. Foros FOR X Norsk BUS441 Konkurranseanalyse Kurt Brekke SAM x norsk BUS442 Konkurranserett Frode Steen, Erling Hjelmeng SAM/FOR x Lars Sørgaard skal bidra noe norsk BUS443 Advanced Auditing: Fraud Detection Iris Stuart RRR X Engelsk Advanced BUS444 Økonometri for regnskap og økonomisk styring A. O. Hopland FOR X Norsk BUS446 Sustainable Business models Sveinung Jørgensen (v) J.T. Pedersen (h) Lars RRR X X Sveinung.jorgensen@hil.no BUS448 Auctions and Procurement M. E. Arve FOR X Engelsk BUS449 Multivariate analysis J. Lyhagen FOR X Professor II Engelsk X BUS450 Risikostyring i bedrifter H. A. Nordahl FOR X II 'er Norsk X BUS451 Økonomisk styring i endring Katarina Kaarbøe, Anita Meidell RRR X BUS45X Enterprise Risk Management: Principles and Methods N.N. FOR X Nytt kurs, kursbeskrivelse tidligere sendt inn - godkjent av dekan på fullmakt. Planlagt tilbud, avklaring ultimo oktober, kursbeskrivelse ettersendes ENE432 Measuring Sustainability in Accounting and Finance Sabina Du Rietz RRR X Koding også som kurs i etikk, maks 40 stud. Engelsk 40 studenter FIE441 Taxes and Business Strategy Dirk Schindler/ Guttorm Schjelderup RRR/FOR X Engelsk STR435 Personalpolitikk og incentiver Kjell Gunnar Salvanes, Susanna Steen Gahmberg BUS45X Corruption - Incentives, Disclosure and Liability Tina Søreide RRR X BUS45X IFRS II: Financial reporting Wei Shi RRR X Norsk Norsk Engelsk Norsk Engelsk SAM x norsk Nytt kurs, kursbeskrivelse vedlagt, mangler kurskode. Det vil bli søkt til senter for etikk om godkjennelse som etikk-kurs Nytt kurs, mangler kurskode, kursbeskrivelse vedlagt Antall støttekurs i BUS Hvilende BUS430 Avansert rekneskapsanalyse og verdivurdering Kjell Henry Knivsflå/ Leif Atle Beisland RRR Vil ikke bli tilbudt høst 2016 Norsk Advanced Kurs som utgår ECO401 Optimization and microeconomic theory Morten Sæthre, Thomas de Haan SAM x Methodology ECO420 Corporate Governance T. E. Olsen / E. Kristiansen FOR/SAM X Engelsk Advanced ECO422 Advanced Corporate Finance T. Stamland FIN x ECO427 Næringsøkonomi Hans Jarle Kind, Kurt Brekke SAM x norsk BUS45X Corruption - Incentives, Disclosure and Liability Tina Søreide RRR X Nytt kurs, kursbeskrivelse vedlagt, mangler kurskode. Det vil bli søkt til senter for etikk om godkjennelse som etikk-kurs Antall støttekurs i ECO Hvilende BUS430 Avansert rekneskapsanalyse og verdivurdering Kjell Henry Knivsflå/ Leif Atle Beisland RRR Vil ikke bli tilbudt høst 2016 Norsk Advanced ECO437 Topics in Stochastic Methods: Stochastic Analysis with Applications in Economics G. di Nunno FOR Gis annet hvert år, sist gang våren 2015 Engelsk X Advanced Kurs som utgår ECN420 Petroleum economics Linda Nøstbakken SAM x engelsk ECO401 Optimization and microeconomic theory Morten Sæthre, Thomas de Haan SAM x x ENE420 Decision Modelling in Business M. Guajardo FOR X Engelsk ENE421 The Energy, Resource and Environmental Industrial Sector S. I. Steinshamn FOR X Engelsk ENE422 Financial Aspects of Energy and Commodity Markets P. Bjerksund FOR X Engelsk ENE423 Environmental Economics G. Eskeland FOR X Engelsk ENE424 Design and Operation of Deregulated Electricity Markets M. H. Bjørndal FOR X Engelsk ENE425 Alternative Energy Sources in Physical, Environmental and Economical Perspectives J. P. Hansen FOR X Engelsk ENE426 Economics of Climate Change G. Eskeland FOR X Engelsk ENE427 Land use and natural resources Roger Bivand SAM x engelsk ENE429 Topics in Applied Management of the Environment and Natural Resources S. I. Steinshamn FOR X Engelsk ENE430 Commodity trade & transport Roar Os Ådland SAM x Endringer merket i kursbeskr. engelsk ENE431 Shipping & offshore markets SAM x Roar Os Ådland, Siri Pettersen Strandenes engelsk ENE432 RRR Koding også som kurs i etikk (ETI), maks 40 X Measuring Sustainability in Accounting and Finance Sabina Du Rietz stud. Engelsk ENE451 Seminar: Risk Management and Safety J. K. Lillestøl FOR X Engelsk Seminar ENE452 Seminar: Global Aspects of Climate Change and Ethical Challenges S. Kvamsdal FOR X Engelsk Seminar ENE456 Seminar: Environmental Responsibility: The Role of NGOs and Large Corporations S. Kvamsdal / S. I. Steinshamn FOR X Engelsk Seminar x litt usikkert om SAM gir dette seminaret høst Seminar ENE458 Seminar :The economics & politics of international agriculture & trade Rolf Brunstad, Erling Vårdal SAM 2016 engelsk x ENE459 Seminar: Energy Challenges and Energy Production in the 21st Century E. Lillestøl FOR X Engelsk Seminar ENE4XX Seminar: ENE Value Chains - Learning by Serious Games M. Rönnqvist FOR X Nytt seminar, under utarbeidelse, Engelsk Seminar kursbeskrivelse ettersendes FIE445 Project Finance A. Adam-Müller FIN x Fjermet adgangsbegrensning. adammueller@uni-trier.de Engelsk x x MBM427 Business-to-business marketing and management Sven A. V. Haugland SOL X Engelsk STR404 Strategic Analysis Lasse B. Lien SOL X Engelsk Antall støttekurs i ENE Hvilende ENE454 Seminar: Communicating in the Energy Sector Gisle Andersen/Trine Dahl FSK Kurs som utgår ENE461 Seminar: Optimization Models for Exploitation of Petroleum Fields Utgår grunnet forskningstermin; neste gang antakelig v 2017 Research Mandatory Adgbegr Intensivt distinction Empirisk attend. course ECN402 Econometric techniques Ragnhild Balsvik, Øivind Anti Nilsen SAM x engelsk x ECN430 Empirical methods and applications in macroeconomics and finance Øivind Anti Nilsen, Gernot Doppelhofer SAM x engelsk x Nytt kurs / Ny kursbeskrivelse. Godkjenning fra FIEXXX Financial Engineering N. Friewald FIN x dekan. NB: Trenger undervisning i computerlab! Engelsk FIE400E Investments Kjernekurs F. Santos FIN x Engelsk FIE400E Investments Kjernekurs Xunhua SU FIN x Engelsk FIE401E Empirical Methods in Finance C. Bienz FIN x Engelsk x 80 stud. FIE401E Empirical Methods in Finance T.Hull/L. Brunt FIN/SAM x Engelsk x 80 stud. FIE401E Empirical Methods in Finance Carsten Bienz, Liam Brunt SAM/FIN x engelsk x x FIE402E Corporate Finance Kjernekurs T. Hull FIN x Engelsk FIE402EA Corporate Finance Kjernekurs M. Kisser FIN x Engelsk FIE402EB Corporate Finance Kjernekurs K. Raff FIN x Engelsk FIE402N Corporate Finance Kjernekurs T. Johnsen FIN x Norsk Tar sikte på å gi kurset både vår og høst, i 2016 FIE403 Business cycle analysis Kjernekurs Øystein Thøgersen, Jan Tore Klovland SAM x engelsk begge ganger, fra 2017 norsk på vår, engelsk engelsk på høst FIE403 Business cycle analysis Kjernekurs Øystein Thøgersen, NN SAM x engelsk FIE420 Pengemarkeder og bankvesen Jan Tore Klovland SAM x norsk FIE421 Long-Term Macroeconomic Analysis Øystein Thøgersen, Ingvild Almås SAM x engelsk FIE422 Internasjonale finansmarkeder og fin. stabilitet Jan Tore Klovland, Rolf Brunstad SAM x norsk FIE425 Derivates and Risk Management S-A Persson FIN x FIE426 Kapitalforvaltning Døskeland/Høegh-Krohn, Mjøs/Santos FIN/FOR x epost Høegh-Krohn: jhk@argentum.no Norsk/Eng. FIE431 Krakk og kriser Ola H. Grytten SAM x FIE434 Behavioural Finance and Wealth Management T. Hens FIN x thorsten.hens@bf.uzh.ch. FIE435 Financial Modelling R. Harris (vårsemesteret) x Redusert adg. begrensning til 50 stud. R.D.F.Harris@exeter.ac.uk Engelsk x x 50 stud. FIE437A Valuation E. Bakke FIN x FIE443 M&A K. Thorburn FIN x FIE445 Project Finance A. Adam-Müller FIN x BUS45X Corruption - Incentives, Disclosure and Liability Tina Søreide RRR X Antall støttekurs i FIE Hvilende Kurs som utgår Rev kursbeskr med kommentarer til karakterfastsetting. Fjernet adgangsbegr. einar.bakke@gmail.com BUS400E Management Control S. Juranek FOR X Engelsk BUS403E Supply Chain Management S.-L. Nonås / P. Agrell FOR X Engelsk Engelsk Engelsk Engelsk Engelsk Engelsk Engelsk Mandatory attend. Mandatory attend. Intensivt X Intensivt Engelsk x x x Adgbegr Research Mandatory Adgbegr Intensivt distinction attend. course BUS427 Advanced Management Accounting Trond Bjørnenak RRR X Engelsk Advanced BUS428 Økonomisk organisasjonsteori O. Kvaløy FOR X Professor II Norsk X BUS429 Dynamic Pricing and Revenue Optimization Z. Pang FOR X II 'er Engelsk X BUS448 Auctions and Procurement M. E. Arve FOR X Engelsk Advanced Adgbegr 40 stud 30 stud Engelsk x 40 stud. Engelsk x x ECN402 Econometric techniques Ragnhild Balsvik, Øivind Anti Nilsen SAM x engelsk x ECN420 Petroleum economics Linda Nøstbakken SAM x engelsk ENE431 Shipping & offshore markets Roar Os Ådland, Siri Pettersen Strandenes FIE402E Corporate Finance T. Hull FIN x Engelsk FIE402EA Corporate Finance K. Raff FIN x Engelsk FIE402EB Corporate Finance M. Kisser FIN x Engelsk INB400 International Organization and Management Kirsten Foss SOL X Engelsk INB422 International Strategy Tina Saebi SOL X adgangsbegrensning opprettholdes Engelsk 55 studenter INB423 International Marketing Aksel Rokkan SOL X INB428 Topics in International Economic History in the 19th and 20th Century Stig Tenold SAM x INB429 EU-Law Erling Hjelmeng RRR X MBM420 Brand Strategy Lars Erling Olsen (lars.olsen@mh.no) SOL X Engelsk STR404 Strategic Analysis Lasse B. Lien SOL X Norsk Nytt kurs, kursbeskrivelse vedlagt, mangler BUS45X Corruption - Incentives, Disclosure and Liability Tina Søreide RRR X kurskode. Det vil bli søkt til senter for etikk om Engelsk godkjennelse som etikk-kurs SAM x Engelsk engelsk Mandatory attend. Intensivt Oppdatert kursbeskr. Opprettholder adgangsbegrensn. på 40 stud. (Begrunnelse vedlagt.) Fjernet adgangsbegrensning / adammueller@uni-trier.de Nytt kurs, kursbeskrivelse vedlagt.. Det vil bli søkt til senter for etikk om godkj som etikk-kurs Adgbegr Research distinction course Advanced Research distinction course Research distinction course Empirisk Empirisk Empirisk Empirisk Etikk Etikk Etikk Etikk Etikk BUS402 / MRR412 Finansregnskap Kjernekurs Terje Heskestad RRR X Kurset overlapper BUS447 Norsk BUS424 Strategic Financial Statement Analysis Mattias Hamberg RRR X Engelsk BUS425 / MRR413B Regnskapsanalyse og verdsettelse Finn Kinserdal RRR X Norsk BUS426E / MRR411 Auditing Iris Stuart RRR X Engelsk BUS426N / MRR411 Revisjon Aasmund Eilifsen, Ellen Kulset RRR X Norsk BUS435 Regnskap og budsjettering i offentlige organisasjoner Norvald Monsen RRR X Norsk BUS440 / MRR413A Regnskapsanalyse og verdsettelse Kjell Henry Knivsflå RRR X Norsk BUS442 Konkurranserett Lars Sørgard/ Erling Hjelmeng RRR/SAM X Norsk BUS445 Cases in Management Accounting Rafael Heinzelmann RRR X Kurset er endret. Ny kursbeskrivelse vedlagt Engelsk BUS447 Financial Reporting, IFRS Tzu-Ting Chiu RRR X Flyttet til høst, Tzu-Ting Chiu gir kurset alene Engelsk ENE420 Decision Modelling in Business M. Guajardo FOR X Engelsk STR402 Methodology for master thesis Karen M. Olsen SOL X Engelsk Methodology course STR405 Metode for masterutredningen Alexander M. Sandvik SOL X Norsk Methodology course Antall kjernekurs i BUS Vår: 1 Høst: 4 BUS437 Valuation, Financial Analysis and Accounting Mattias Hamberg RRR Engelsk ECO Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk ECN402 Econometric techniques Kjernekurs Ragnhild Balsvik, Øivind Anti Nilsen SAM x engelsk Methodology x ECN430 Empirical methods and applications in macroeconomics and finance Øivind Anti Nilsen, Gernot Doppelhofer SAM x engelsk Advanced ECO400 Decisions, Strategy and Information Kjernekurs Eirik Gard Kristiansen, Trond Olsen SAM/FOR x engelsk Methodology ECO403 Time Series Analysis and Prediction Kjernekurs Y. Li / J. Andersson FOR X Engelsk Methodology x ECO421 Asset Pricing J. Haug/T. Stamland FIN x Engelsk Advanced ECO423 Principles of Derivatives Pricing and Risk Management J. Haug FIN x Engelsk Advanced ECO425 International macroeconomics NN, Gernot Doppelhofer SAM x NN= vikar for Krisztina Molnar engelsk Advanced ECO426 Globalization, firm behavior, and public policy Hans Jarle Kind, Kothenburger SAM x engelsk delvis Advanced ECO433 Empirical methods for causal analysis Aline Butikofer SAM x Endringer merket i kursbeskr. engelsk Advanced ECO439 Resource Economics Linda Nøstbakken, Po Yin Wong SAM x Ny kursbeskrivelse engelsk Advanced ECO440 Økonomi og usikkerhet: Forsikring og finans K. K. Aase FOR X Norsk ECO441 Skatt, beslutningsatferd og økonomisk politikk Lars Erik Borge, Jørn Rattsø SAM/FOR begge er prof 2 fra NTNU norsk intensitvt ENE420 Decision Modelling in Business M. Guajardo FOR X Engelsk Methodology FIE421 Long-Term Macroeconomic Analysis Øystein Thøgersen, Ingvild Almås SAM x engelsk Antall kjernekurs i ECO Vår: 1 Høst: 2 ENE Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk ECN402 Econometric techniques Ragnhild Balsvik, Øivind Anti Nilsen SAM x engelsk x ECO439 Resource Economics Linda Nøstbakken, Po Yin Wong SAM x engelsk x ENE428 Empirical Energy Economics A. Neumann FOR X Professor II Engelsk X ETI450 Corporate social responsibility Ivar Kolstad SAM x ivar.kolstad@cmi.no engelsk x FIE439 Empirical Analyses of Finance and Resource Markets O. Gjølberg FIN x ole.gjolberg@nmbu.no Engelsk x Antall kjernekurs i ENE Vår: Høst: FIE Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk ECO420 Corporate Governance: Eierstyring og ledelse Eirik G. Kristiansen, Trond Olsen SAM/FOR x engelsk x ECO421 Asset Pricing J. Haug/T. Stamland FIN x Engelsk Advanced course ECO422 Advanced Corporate Finance T. Stamland FIN x Engelsk Advanced course ECO423 Principles of Derivatives Pricing and Risk Management J. Haug FIN x Engelsk Advanced course ECO425 International macroeconomics NN, Gernot Doppelhofer SAM x NN= vikar for Krisztina Molnar engelsk x FIE400N Finansmarkeder Kjernekurs P. Bjerksund / S.-A. Persson FOR/FIN X Norsk FIE423 Renteinstrumenter P. Bjerksund / G. Stensland FOR X Norsk FIE432 Personlig økonomi G. Schjelderup / T. M. Døskeland FOR X Norsk FIE433 International Finance M. Kisser FIN x Engelsk FIE435 Financial Modelling E. Stoja (høstsemesteret) FIN x adress: E.Stoja@bristol.ac.uk Engelsk x x 60 stud. FIE436 Venture Capital, Private Equity and IPOs C. Bienz FIN x Engelsk x 70 stud. FIE437 Valuation B. Wright FIN x Brian.Wright@xjtlu.edu.cn Engelsk x FIE438 Applied Portfolio Management B. Wright FIN x Engelsk x FIE439 Empirical Analyses of Finance and Resource Markets O. Gjølberg FIN x ole.gjolberg@nmbu.no Engelsk x FIE441 Taxes and Business Strategy Dirk Schindler/ Guttorm Schelderup RRR/FOR X Engelsk FIE442 Growth and architecture of financial systems Liam Brunt SAM hviler engelsk Antall kjernekurs i FIE Vår: 4 Høst: 5 FIE444 Banking A. Mjøs FIN Sabbatical 2016 Engelsk FIE428 Corporate Financial Management A. Mjøs FIN Sabbatical 2016 Engelsk x 50 stud. INB Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk ECN422 International Economics Torfinn Harding, Ragnhild Balsvik SAM x engelsk ECO426 Globalization, firm behavior, and public policy Hans Jarle Kind, Kothenburger SAM x engelsk delvis x ETI450 Corporate social responsibility Ivar Kolstad SAM x ivar.kolstad@cmi.no engelsk x FIE433 International Finance M. Kisser FIN x Engelsk FIE435 Financial Modelling R. Harris FIN x Redusert adg.begrensning til 50 studenter Engelsk x x 50 stud. FIE435 Financial Modelling E. Stoja FIN x Engelsk x x 60 stud. INB421 Int. Business and Non-Business Accounting Norvald Monsen RRR X INB425 Chinese Challenge Eirik Vatne SAM x engelsk INB427 Globalisation and Integration Jan Haaland, Linda Orvedal SAM x engelsk STR402 Methodology for master thesis Karen M. Olsen SOL X Engelsk Methodology course Side 1

9 Antall kjernekurs i INB Vår: Høst: Antall støttekurs i INB Hvilende BUS437 Valuation, Financial Analysis and Accounting Kurs som utgår INB431C Global Management Practice FSK MBM401B Consumer Behavior kjernekurs Håvard Hansen (havard.hansen@uis.no) SOL X Engelsk MBM402B Brand Equity and Pricing kjernekurs Leif Hem SOL X Engelsk MBM420 Brand Strategy Lars Erling Olsen (lars.olsen@mh.no) SOL X kursbeskrivelse redigert Engelsk MBM422 Social Media Marketing Ingeborg A. Kleppe SOL X kursbeskrivelse redigert Engelsk MBM424 Integrated Marketing Communication Leif Hem SOL X Engelsk MBM427 Business-to-business marketing and management Sven A.V. Haugland SOL X kursbeskrivelse redigert Engelsk MBM429 Service Innovation Tor W. Andreassen SOL X kursbeskrivelse redigert Engelsk STR402 Methodology for master thesis kjernekurs Karen M. Olsen SOL X Engelsk STR404 Strategic Analysis Lasse B. Lien SOL X Engelsk Antall støttekurs i MBM Hvilende Kurs som utgår MRR BUS401 / MRR415 Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk Strategiske lønnsomhetsanalyser og prising Trond Bjørnenak (høst) / Kenneth Fjell og Kari Nyland (vår) MRR443 Verdsettelse Frøystein Gjesdal, Michael Kisser, Bjarne Møller, Are Oust MRR445 Topics in auditing Aasmund Eilifsen, Bill Messier, Tom McKee, Tina Søreide m.fl. MRR452 Finansregnskap Kjell Ove Røsok, Anne-Cathrine Bernhoft, Signe Moen m.fl. Antall støttekurs i MRR Hvilende Kurs som utgår ECN401 Applied Microeconomic Theory Fred Schroyen, Eirik G. Kristiansen, Mathias Ekstrøm RRR X X Gis både høst og vår Norsk RRR X Norsk RRR X Eng./Norsk RRR X Norsk SAM x Endringer merket i kursbeskr. engelsk ECN420 Petroleum economics Linda Nøstbakken SAM x engelsk ECN421 Behavioral Economics Mathias Ekstrøm SAM x Endringer merket i kursbeskr. engelsk ECN422 International Economics Torfinn Harding, Ragnhild Balsvik SAM x engelsk ECN423 Development economics Kjetil Bjorvatn, Po Yin Wang SAM x engelsk ECN425 Labour Economics Aline Butikofer SAM x engelsk ECN426 Velferdsstatens utfordringer Karl Rolf Pedersen SAM x norsk ECN427 Samfunnsøkonomisk prosjektvurdering Karl Rolf Pedersen SAM x norsk ECN428 Økonomisk politikk og historie Bjørn Basberg SAM x norsk ECN429 The Economics of Aquaculture and Fisheries Management Linda Nøstbakken, Jack Li SAM x Ny tittel, ny kursbeskrivelse engelsk ECN43X Applied Data Analysis of Firm Strategy and Competition Kurt Brekke, Morten Sæthre SAM x Nytt kurs (innmeldt tidligere som Industrial organization: theory and empirics) Tar sikte på å gi kurset både vår og høst, i 2016 FIE403 Business cycle analysis Øystein Thøgersen, Jan Tore Klovland SAM x engelsk begge ganger, fra 2017 norsk på vår, engelsk engelsk på høst FIE403 Business cycle analysis Øystein Thøgersen, NN SAM x engelsk FIE421 Long-Term Macroeconomic Analysis Øystein Thøgersen, Ingvild Almås SAM x engelsk Nytt kurs, kursbeskrivelse vedlagt, mangler BUS45X Corruption - Incentives, Disclosure and Liability Tina Søreide RRR X kurskode. Det vil bli søkt til senter for etikk om Engelsk godkjennelse som etikk-kurs Antall støttekurs i ECN Hvilende ECN424 Konkurransepolitikk Sissel Jensen, NN SAM hviler engelsk Kurs som utgår ECO438 Health Economics utgår utgår STR Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk INB422 International Strategy Tina Saebi SOL X adgangsbegrensning opprettholdes Engelsk 55 studenter STR404 Strategic Analysis Lasse B. Lien SOL X Engelsk STR425 Forhandlinger Jørn K. Rognes SOL X X 2 grupper vår 2016 Norsk 32 studenter STR428 Konsernstrategi Lasse B. Lien SOL alterneres fra vår 2017 med STR452 Norsk STR432 Strategiske allianser og nettverk Sven A.V. Haugland SOL X Norsk STR433 Etisk handling: individ, organisasjon og samfunn Knut O.J. Ims SOL X søkes adgangsbegrensning - 35 studenter; Norsk x kursbeskrivelse redigert STR435 Personalpolitikk og incentiver Kjell Gunnar Salvanes, Susanna Steen SAM x Gahmberg norsk STR436 Ledelse og organisasjonsbeslutninger Marcus Selart SOL X Norsk STR437 Team og teamledelse Vidar Schei SOL X Norsk 30 studenter STR444 Innovaton Management and Entrepreneurship Tor A. Aase Johannessen SOL X Engelsk STR445 Human Capital, Mobility and Diversity in Firms Astrid Kunze SAM x engelsk STR446 Prosess- og kvalitetsledelse Jon Iden SOL X flyttes til høst semester fom høst 2016 Norsk STR447 Human Resource Managment Karen M. Olsen SOL X kursbeskrivelse redigert Norsk STR450 Risiko Therese Kobbeltvedt SOL X X Norsk 44 studenter STR451 Managerial decision making Marcus Selart SOL X kursbeskrivelse redigert Engelsk STR452 Strategy with Finance Lasse B. Lien, Eirik S. Knudsen SOL X alterneres fra vår 2017 med STR428 Engelsk Nytt kurs, kursbeskrivelse vedlagt, mangler BUS45X Corruption - Incentives, Disclosure and Liability Tina Søreide RRR X kurskode. Det vil bli søkt til senter for etikk om Engelsk godkjennelse som etikk-kurs Antall støttekurs i STR Hvilende STR422 Implemantation of strategic change and learning in organizations Rune Lines SOL hviler - kursansvarlig er på forskningstermin STR442 Cases in Change Management Inger G. Stensaker SOL Hviler - kursansvarlig er dekan for etterutdanningen. Prosess- og kvalitetsledelse samt Team og teamledelse er flyttet til høst for å konpensere. Kurs som utgår STR449 ERP systems and organisatonal effectiveness SOL kurset går ut ved overgang til pensjon - siste gang høst 2015 Kurs som utgår Kursholder Institutt Vår 2016 Høst 2016 Merknader Frittstående støttekurs ELE Kursnavn Kursholder Institutt ELE426 Norwegian Language III Norsk samfunns- og næringsliv Klara Sjo FSK X GRU Kursnavn Engelsk Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk GRU401 Forkurs for Gründerskolen Tor A. Aase Johannessen SOL X kursbekrivelse redigert Norsk Mandatory attend. Mandatory attend. Mandatory attend. Mandatory attend. Mandatory attend. Mandatory attend. Intensivt Intensivt Intensivt Intensivt Intensivt Intensivt Adgbegr Adgbegr Adgbegr Adgbegr Adgbegr Adgbegr Research distinction course Research distinction course Research distinction course Research distinction course Research distinction course Research distinction course Empirisk Empirisk Empirisk Empirisk Empirisk Empirisk Etikk Etikk Etikk Etikk Etikk Etikk FIE428 Corporate Financial Management A. Mjøs FIN x Sabbatical 2016 Engelsk x 50 stud. MBM Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk INB423 International Marketing Aksel Rokkan SOL X Engelsk MBM400A Research for Brand Decisions kjernekurs Einar Breivik SOL X Engelsk Methodology course MBM421 Managing Corporate Reputation Siv Skard SOL X Engelsk Advanced course MBM428 Product Development and Design Herbjørn Nysveen SOL X kursbeskrivelse redigert Engelsk STR448 Economic organization and theory of the firm Kirsten Foss SOL X Engelsk Advanced course Antall kjernekurs i MBM Vår: 0 Høst: 4 BUS402 / MRR412 Finansregnskap Terje Heskestad RRR X Kurset overlapper BUS447 Norsk BUS425 / MRR413B Regnskapsanalyse og verdsettelse Finn Kinserdal RRR X Norsk BUS426E / MRR411 Auditing Iris Stuart RRR X Engelsk BUS426N / MRR411 Revisjon Aasmund Eilifsen, Ellen Kulset RRR X Norsk BUS440 / MRR413A Regnskapsanalyse og verdsettelse Kjell Henry Knivsflå RRR X Norsk MRR416 Foretaksrett Ole Baalsrud m.fl. RRR X Norsk MRR417 Skatt og avgift Ole Baalsrud m.fl. RRR X Norsk MRR446 Juss Ole Baalsrud m.fl. RRR X Norsk MRR451 Revisjon Aasmund Eilifsen, Roger Kjelløkken, m.fl. RRR X Norsk Antall kjernekurs i MRR Vår: Høst: ECN Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk BUS442 Konkurranserett Lars Sørgard/ Erling Hjelmeng RRR/SAM X Norsk ECN400 Macroeconomic Theory and Policy Gernot Doppelhofer, NN SAM x NN=vikar for Krisztina Molnar engelsk ECN402 Econometric techniques Ragnhild Balsvik, Øivind Anti Nilsen SAM x engelsk x ECN430 Empirical methods and applications in macroeconomics and finance Øivind Anti Nilsen, Gernot Doppelhofer SAM x engelsk x ECO401 Optimization and microeconomic theory Morten Sæthre, Thomas de Haan SAM x x ECO425 International macroeconomics NN, Gernot Doppelhofer SAM x NN= vikar for Krisztina Molnar engelsk x ECO427 Næringsøkonomi Hans Jarle Kind, Kurt Brekke SAM x norsk x ECO433 Empirical methods for causal analysis Aline Butikofer SAM x engelsk x ECO439 Resource Economics Linda Nøstbakken, Po Yin Wong SAM x engelsk x ECO441 Skatt, beslutningsatferd og økonomisk politikk Lars Erik Borge, Jørn Rattsø SAM/FOR begge er prof 2 fra NTNU norsk intensitvt ETI450 Corporate social responsibility Ivar Kolstad SAM x ivar.kolstad@cmi.no engelsk x Antall kjernekurs i ECN Vår: Høst: BUS441 Konkurranseanalyse Kurt Brekke SAM x norsk ETI450 Corporate social responsibility Ivar Kolstad SAM x ivar.kolstad@cmi.no engelsk x STR402 Methodology for master thesis kjernekurs Karen M. Olsen SOL X Engelsk Methodology course STR405 Metode for masterutredningen kjernekurs Alexander M. Sandvik SOL X Norsk Methodology course STR420 Business Location Decisions Eirik Vatne SAM x engelsk STR421 Competitive strategy Sissel Jensen, Chiara Canta SAM x Endringer merket i kursbeskr. engelsk STR448 Economic organization and theory of the firm Kirsten Foss SOL X kursbeskrivelse redigert Engelsk Advanced course Antall kjernekurs i STR Vår: 1 Høst: 1 CEMS Kursnavn Kursholder Institutt Vår 2016 Høst 2016 Merknader Und.språk Hvilende Kursholder Institutt Vår 2016 Høst 2016 Merknader Vår 2016 Høst 2016 Merknader Und.språk Side 2

10 NYE MASTERKURS VÅREN 2016: BUS451 - Økonomisk styring i endring Godkjent av dekan på fullmakt. BUS45X Corruption Incentives, Disclosure and Liability Program of study: Master Lecturer: Tina Søreide Department: Department of Accounting, Auditing and Law Study points: 7,5 Semester: Spring Teaching language: English Course description: This course aims at enhancing students understanding of the phenomenon of corruption the problem s persistence, its consequences, and the strengths and weaknesses of various strategies to deal with it. It is a course in applied economics with an emphasis on criminal law, and students will learn about corruption risks, institutional challenges, legal regulation and the role of compliance systems. The course is relevant for the private and the public sector future leaders, advisers, external and internal auditors, accountants, board members, investigators and researchers alike. The lectures will describe empirical results, economic theory and criminal law with a heavy use of examples and facts about law enforcement problems at the national and international level. Learning outcome: By the end of this course students will be able to - distinguish different forms of corruption - explain why corruption distorts markets and hinders development - gauge corruption risks in a market, government sector or organization - examine the causes of suspected corruption - describe the landscape of anticorruption strategies and institutions and judge their strengths and weaknesses - explain the function of criminal justice systems in controlling corruption - understand and apply the concept of compliance systems in private and public organizations - debate the role of international players in corruption and anticorruption Literature: Søreide, T Corruption and Criminal Justice: Bridging Economic and Legal Perspectives, Edw. Elgar Publishing. Alternative readings: Rose-Ackerman, S. and B. Palifka Corruption and Government. Causes, Consequences and Reform. 2nd edition. Cambridge: Cambridge University Press. Recommended reading: There will be recommended reading specified for each lecture. The selected literature will be downloadable free of charge. Teaching: 20 lectures with discussion in class (Tina Søreide holds all lectures, two of them jointly with guest lecturers: an invited experienced investigator (name TBC) and an expert on whistleblowing and company law, Birthe Eriksen) Deadline for exam registration: xx. April, 2016? Requirements for course approval: Exam (4 hours) and three assignments passed with the grade D or better Assessment: Exam 70%, assignments 30%. Grading scale A-F Further comments: This course is registered under the BUS profile, but relevant and made possible to attend for all master profiles.

11 BUS45X IFRS II: Financial Reporting Program of study Master Lecturer Wei Shi, Assistant Professor, Department of Accounting, Auditing and Law Department Department of Accounting, Auditing and Law Study points (credits) 7.5 Semester Spring Teaching language English Prerequisites BUS447 (Financial Reporting IFRS) or equivalent courses serve as a prerequisite for this course. Course description Accounting is a process of mapping economic transaction into financial report by applying rules. The past few decades witness the evolution of economic transactions as well as the change in accounting standard, with IFRS gaining more and more popularity across the world. The objective of the course is to provide a foundation for students to understand the accounting rules (IFRS) for transactions related to financial instrument, merger and acquisitions, and operation in foreign areas. Learning outcomes After the completion of the course, students are expected to: Understand the IFRS rules to account for the transactions related to financial instrument, merger and acquisitions and operation in foreign areas. Analyze the effect of transactions on financial report. Be able to read the annual report by listed companies to identify how the rules are applied in real life. Topics / Content Financial Instruments (IFRS 7, IFRS 9, IAS 32, IAS 39) Business Combinations (IFRS 3, IFRS10, IAS27, IAS 28) Foreign Currency Translation (IAS 21) Literature Tan, P., L. Yeong and P. Lee Advanced Financial Accounting 2E. Singapore: McGraw- Hill Education. Picker, R., K. Leo, J. Loftus, V. Wise, K. Clark, and K. Alfredson Applying International Financial Reporting Standards, 3rd Edition. Wiley. International Financial Reporting Standards. (Free access via subscription to eifrs at Online IFRS resources from Deloitte, PwC, EY, and KPMG:

12 Other supplementary materials will be available on itslearning. Computer requirements / tools itslearning Teaching Lectures, cases, and group work Requirements for course approval Group project (pass/fail) Assessment Four-hour written exam Grade scale A-F BUS45x Enterprise Risk Management: Principle and Methods Kursbeskrivelse ettersendes ENE4xx Seminar: ENE Value Chains Learning by Serious Games Kursbeskrivelse ettersendes

13 ECN43x - Applied Data Analysis of Firm Strategy and Competition Program Master Department: SAM Course responsible Kurt Brekke and Morten Sæthre Learning outcomes This course will prepare you for analyzing data from real-world markets. You will learn to use a combination of economic models and econometric tools to generate highly useful inputs for strategic business decisions, competitive strategies, competition policy, and market regulation. After attending this course as a student, you will know central economic models of market behavior and imperfect competition know how to estimate supply and demand in markets with imperfect competition understand the relationship between models, data, and econometric analysis be able to independently apply econometric techniques to analyze market data, for instance as part of a master thesis, or in your future professional career understand the strengths and weaknesses of the models and econometric techniques taught be able to use STATA to perform and keep track of the necessary analysis, produce professional tables and figures, and replicate your results at a later time Topics As an analyst, manager or economist, there are many important problems you can only address by analyzing market data. For instance, if we increase the price of one product by 5%, what is the likely effect on demand for this and other products in our portfolio, as well as competitors products?, how will a proposed tax or subsidy affect a given company, consumer welfare and firms' investment?, what is the likely impact of a merger between two companies?, or should we apply government intervention against a highly concentrated industry?. Even if you know a model that is suitable in a given context, the relevant effects often depend on unknown moments, such as price sensitivity, level of fixed costs, and substitutability, which you typically have to obtain estimates on. This course will introduce you to methods suited for this purpose, as well as provide you with sufficient knowledge to interpret the results and teach you the necessary skills to convey the information in professional settings.

14 Course schedule 1. Review of competitive versus imperfectly competitive markets, game theory, basic regression techniques, and STATA preliminaries 2. Estimation of demand and supply in competitive markets and instrumental variable methods Case: Adjusting prices faster for cost increases than cost decreases? The example of gasoline prices 3. Product differentiation and discrete choice Case: Maximum or minimum differentiation? Empirical analysis of firms location choices. 4. Merger analysis and merger simulation Case: Merging to reduce price competition? Predicting the effects of a merger 5. Randomization, experiments and difference-in-difference estimation Outside views: In-firm experiments A practical perspective (Telenor) Case: How effective is search engine marketing? A large-scale experiment on Google's paid search advertisement 6. Market structure, barriers to entry and deterrence Case: Can we keep competition out? Evidence from patent expirations Prerequisites It is recommended that you have prior knowledge about econometrics equivalent to ECN402. Familiarity with basic calculus will be assumed. In some cases, familiarity with the concepts introduced in BUS441 or ECO427 will be helpful; however, such knowledge is not assumed, and the important points will be covered in class. Literature Davis, P. and E. Garces, Quantitative Techniques for Competition and Antitrust Analysis, Princeton University Press, Selected articles. Teaching 14 lectures and 4 sessions in PC-lab where you will learn to perform empirical analysis using the methods taught. There will be two assignments, which will have to be passed for course approval. The assignments are designed to make you familiar with the economic models, and have you apply them using real-world data. Exam Empirical assignments (50%) and term paper (50%). Grading scale A F. Computer tools Econometric software package STATA.

15 FIE4xx Financial Engineering Godkjent av dekan på fullmakt. Program of study: Master Lecturer: Nils Friewald Department: Finance Study points (credits): 7.5 Semester: Spring Teaching Language: English Prerequisites: programming skills (e.g. R, Matlab, Visual Basic); basic knowledge in linear algebra (in particular matrix operations, vector spaces and linear mappings, linear programming, orthogonal projections); basic knowledge in analysis (in particular simple calculus); basic knowledge in statistics (in particular expected value, variance); basic knowledge in finance (in particular compounding, NPV calculation). Learning outcome: This course provides students with the principals of derivatives pricing using Monte-Carlo simulation. This course is related to ECO423 Principles of Derivates Pricing and Risk Management and FIE425 Derivates and Risk Management but contrary to these courses Financial Engineering s primary focus is on the pricing of interest rate derivaties using Monte-Carlo techniques. After completing this course the student will have the ability to: recall the principles of derivatives pricing and Monte Carlo techniques; bootstrap a discount curve from actively traded financial instruments; price Exotic options by means of Monte Carlo simulation; price Bermudan options by means of random-tree and regression-based methods; assess the advantages and limitations of the random-tree and regression-bases approaches; implement and simulate a Libor Market Model; calibrate a Libor Market Model to interest rate caps; price interest rate derivatives with the Libor Market Model. Topics / Content: principles of derivatives pricing; principles of Monte Carlo simulation; building the risk-free discount curve; pricing of Exotic options; pricing of Bermudan options; pricing of interest rate derivatives. Literature: Lecture notes Financial Engineering. Paul Glasserman, Title: Monte Carlo Methods in Financial Engineering, Springer, Damino Brigo and Fabio Mercurio, Title: Interest Rate Models - Theory and Practice, Springer, 2006.

16 Salih N. Neftci, Principles of Financial Engineering, Academic Press, John C. Hull, Options, Futures and Other Derivatives, Pearson Prentice Hall, Mark S. Joshi, The Concepts and Practice of Mathematical Finance, Cambridge University Press, Recommended readings: Paul Glasserman, Title: Monte Carlo Methods in Financial Engineering, Springer, Damino Brigo and Fabio Mercurio, Title: Interest Rate Models - Theory and Practice, Springer, Computer requirements / tools: Excel, R. Teaching: This course is taught using a combination of (i) regular lectures elaborating relevant topics and (ii) examples illustrating and deepening various aspects of a certain topic. The lectures are aimed at providing the core information about the principles of financial engineering. The examples will partly be worked out and discussed in class and should give students the opportunity to apply theoretical knowledge to practical problems and help to comprehend the key ideas of the lecture. Any unfinished example should be completed independently at home. A regular homework assignment will help students to consolidate and expand their knowledge and understanding by developing solutions to applied problems. Deadline for exam registration: Requirements for course approval: Students have to successfully complete the assigned homework problems and lecture examples. Assessment: The course yields one overall grade which is based 80 percent on the final exam, 10 percent on homework assignment and 10 percent on class participation. The final exam is four-hour long and written in the computer lab. The exam consists of specific practical problems which need to be implemented and solved using Excel/R. The homework assignment consists of a particular practical problem which needs to be solved using Excel/R. The assignment can be worked out in groups. The assessment of the homework assignment and exams will be based on the correctness of the results, the clarity and persuasiveness of each bit of work and the recognizable effort made. It is the express policy of the course that late homework assignments will not be accepted by any circumstances. Class participation means to actively participate in discussions and, in particular, solving the numerous examples during class on their own. If the examples cannot be finished during class they should be finished at home until the next lecture. Students will be randomly selected to show whether they have solved the examples correctly. The overall performance will be graded on a standard scale from A to F. Other remarks: Due to the interactive lecture and the work in the computer lab the number of students in the course shall be limited to 30 students.

17 From: Endre Bjørndal Sent: 22. september :49 To: Trond Bjørnenak; Maren Dale-Raknes Cc: Tina Søreide Subject: RE: Corruption Kursbeskrivelse Hei Trond & Maren, Det er ønskelig at det nye kurset til Tina inngår som ett av de kursene BUS-studentene kan velge for å oppfylle etikk-kravet i MØA. Siden denne saken ikke ligger på dekanens bord enda sender jeg ikke noen melding til ham. Kan dere indikere tydelig i planene som leveres inn at kurset skal godkjennes som etikkkurs, så tar PMU stilling til det når de får undervisningsplanen til behandling? Endre From: Endre Bjørndal Sent: 17. september :29 To: Trond Bjørnenak <Trond.Bjornenak@nhh.no>; Bjørn Daniel Johanson <Daniel.Johanson@nhh.no> Cc: Maren Dale-Raknes <Maren.Dale-Raknes@nhh.no>; Aasmund Eilifsen <Aasmund.Eilifsen@nhh.no> Subject: RE: Corruption Kursbeskrivelse Hei, Dette er et spennende kurs som passer godt inn i BUS, veldig bra! Endre From: Trond Bjørnenak Sent: 16. september :05 To: Endre Bjørndal <Endre.Bjorndal@nhh.no>; Bjørn Daniel Johanson <Daniel.Johanson@nhh.no> Cc: Maren Dale-Raknes <Maren.Dale-Raknes@nhh.no>; Aasmund Eilifsen <Aasmund.Eilifsen@nhh.no> Subject: FW: Corruption Kursbeskrivelse Hei Daniel og Endre, Her er kursbeskrivelsen for et nytt kurs som vi gjerne vil at Tina skal gi til våren. BUS profil eller hvor? Det bør i alle fall kunne inngå i BUS hva med MRR Aasmund? Ha det fint! Trond From: Tina Søreide Sent: 13. september :01 To: Maren Dale-Raknes <Maren.Dale-Raknes@nhh.no> Cc: Trond Bjørnenak <Trond.Bjornenak@nhh.no> Subject: Corruption Kursbeskrivelse

18 Hei Maren, Vedlagt er kursbeskrivelsen som vedlagt. Jeg prøvde å omformulere siste setningen slik du foreslo, men er litt usikker på formuleringen. Vil du sjekke at ok/eventuelt endre? Merk også jeg har laget markedsføringsvideo for kurset. Det skyldes egentlig en misforståelse. Jeg trodde Aasmund ba meg lage en videosnutt for en økt på tirsdag der alle 2016 kursene skal presenteres. Men, den økten skulle visst handle om masteroppgaven/det selvstendige arbeidet. Min video var dermed en bommert. Jeg må visst sende ham noen oppgaveforslag i stedet. Nå har jeg ikke tid til å danse dem inn på en video (er ikke på kontoret i morgen), men det er mulig han kobler forslagene med å vise videoen så får jeg kanskje markedsført kurset likevel. Hvis vi vi har en webside med kursinfo kan jo videosnutten ligge der, men om det var helt bortkastet går det også bra. Her er linken (varer kun 2 minutter) : Jeg drar til Romania. Er tilbake på kontoret 22. sept. Skal til Oslo 23. sept, men deretter på kontoret torsdag og fredag 24 og 25 september. Tina

19 From: Endre Bjørndal Sent: 22. september :43 To: Maren Dale-Raknes Cc: Trond Bjørnenak Subject: RE: Nytt kurs - BUS Hei, Jeg snakket med Trond nettopp, og jeg synes dette er ok som BUS-kurs. Jeg forstod på Trond at kurset skal gis som fordypningskurs, ikke videregående. De andre kursene vi har som videregående er godkjent som stjernemerkede kurs innenfor RDT, så for å unngå misforståelser bør kanskje tittelen endres. Endre From: Maren Dale-Raknes Sent: 21. september :51 To: Endre Bjørndal <Endre.Bjorndal@nhh.no> Subject: Nytt kurs - BUS Hei Endre, Wei Shi ønsker å gi dette kurset fra våren av. Jeg antar at det må ha godkjennelse fra deg for å kunne bli kodet som et BUS-kurs. Kan du se på saken? Hilsen Maren

20 KURSBESKRIVELSER MASTER - ENDRINGER VÅREN 2016: BUS400E - Management Control Mindre endringer Course responsible Steffen Juranek, Department of Business and Management Science. Learning outcomes: The course cannot be combined with the course BUS400N "Styring av større foretak", which is a very similar course in Norwegian. When companies reach a certain size it will become difficult for owners or leaders to give all employees detailed instructions on how to perform certain tasks. Manage-ment control mechanisms are then important to guide the managers in the company, so that they contribute in the best possible way to the total value creation of the company. In this course we discuss, for example, what responsibilities each unit in the organization should have, what goals to set for the units, how to measure the value creation of the units, how to use incentives in the organization, principles of transfer pricing, and different tools such as budgeting, rolling forecasts and balanced scorecard. After completing the course the students should: - Understand the basic mechanisms for management control in large companies and how the companies could be organized to increase value creation - Be able to use different performance measures, with the weighted average cost of capital as base line, and understand the limitations of the measures - Understand the consequences of alternative incentive systems and be able to select appropriate ones for a particular company - Master various methods for planning and control, such as traditional budgeting, rolling forecasts and balanced scorecards - Understand the motivation for transfer pricing and the consequences of different schemes. - Understand how the different management tools may work together (or against each other) in a company Prerequisites Students are expected to have followed basic courses in microeconomics and management accounting at the bachelor level. Literature To be announced. Teaching Two lectures a week of 2x45 minutes. The course starts in the beginning of February 1

21 Requirements for course approval 4 individual online assignments (pass/fail). 1 group assignment (pass/fail) Note: There might be compulsory activities in the course prior to the registration deadline. Exam 4 hour written examination. The exam can only be written in English. Grading scale A - F. Computer tools Students are expected to be familiar with Excel. Computer tools None in particular. 2

22 BUS445 Cases in Management Accounting Kurset er endret Course responsible Rafael Heinzelmann, Dep. of Accounting, Auditing and Law Prerequisites None. The course is an advance course in the master program and it is expected that students study independently and groups. Topics Performance management Costing Balanced Scorecard Budgeting Beyond Budgeting Forecasting Risk management Role of IT/ERP-Systems Role of management accountants Teaching language English, including the presentations, assignments and the exam. Literature Compendium of articles is provided on itslearning. Teaching The course looks into in management accounting and control studying cases of implementing solutions for performance management, risk management and ERP systems in companies. It draws the organizational dimension of using management accounting to the fore by mobilizing research cases published in top management accounting journals. First of all we recapitulate the main idea, assumptions and operationalization of the techniques used, then we discuss a research paper dealing with the respective technique in a specific case. Within this part deal with management accounting across different sectors, i.e. manufacturing, oil industry, banks, public sector and NGOs with a special emphasis performance measurement, risk management, budgeting and forecasting, the role of IT-technologies in management accounting. The course is taught in an interactive manner. Students are expected to actively participate in class, i.e. discussions, group work etc. Learning outcomes By the end of the course, the students are expected to be able to: understand contemporary issues in management accounting and performance measurement in different sectors. 3

23 account for the social and organisational context in which these techniques are embedded and used. Requirements for course approval 40 % of the grade is given to in class participation (presentations, preparation of cases, participation in discussions, group assignment, presence). The exam accounts for 60 % of the final grade. Please note that students to achieve at least 50 % in both parts (in class participation and exam) in order to be evaluated positively. Exam 4 hours written exam with open questions. Grading scale A-F Computer tools Standard PC. SUMMARY Study points: 7,5 Teaching language: English Semester: Spring Program of Study: MASTER (BUS-PROFILE) 4

24 BUS447 - Financial Reporting IFRS Endret undervisningssemester Kurset overlapper BUS402 / MRR412 Program of study Master Lecturer(s) Tzu-Ting Chiu, Assistant Professor, Department of Accounting, Auditing and Law Department Department of Accounting, Auditing and Law Study points (credits) 7.5 Semester Fall Teaching language English Prerequisites BED020 Finansregnskap or equivalent courses serve as a prerequisite for this course. Students who have taken BUS402/MRR412 Finansregnskap or other similar courses are not accepted to the course. Course description The globalization and integration of the world capital markets have called for a single set of high-quality global standards for financial reporting. Starting in 2005, listed companies in European Union member states are required to report consolidated financial statements based on International Financial Reporting Standards (IFRS). Today, more than 100 countries around the world have shifted to the use of IFRS. Due to the worldwide acceptance and use of IFRS, the need to understand these standards increases. The ability to interpret and analyze financial statements prepared under IFRS also becomes one of the necessary professional skills for working in global business environments. This course will cover critical topics in IFRS. Students will learn the conceptual framework and guiding principles behind IFRS. The objective of the course is to enhance students understanding of the economic substance underlying the transactions, the application of IFRS to accounting transactions, and the financial reports from an international perspective. The course content will be delivered via lectures. Real-world cases will be used to supplement the lectures for illustrating and applying the concepts of accounting standards. Learning outcomes After the completion of the course, students are expected to: Have an understanding of the framework, concepts, and principles of IFRS. Understand how to apply IFRS to recognize, measure, and disclose accounting transactions in real business situations. Realize the discretion and judgment by management in applying accounting standards. Be able to interpret and analyze financial statements prepared under IFRS. 5

25 Develop the ability to make informed decisions across a broad range of accounting challenges faced by multinational enterprises. Topics / Content IFRS Overview and Introduction The Conceptual Framework for Financial Reporting Presentation of Financial Statements (IAS 1) Inventories (IAS 2) Property, Plant and Equipment (IAS 16) Investment Property (IAS 40) Intangible Assets (IAS 38) Impairment of Assets (IAS 36) Leases (IAS 17) Provisions, Contingent Liabilities and Contingent Assets (IAS 37) Revenue from Contracts with Customers (IFRS 15) Income Taxes (IAS 12) Literature Picker, R., K. Leo, J. Loftus, V. Wise, K. Clark, and K. Alfredson Applying International Financial Reporting Standards, 3rd Edition. Wiley. International Financial Reporting Standards. (Free access via subscription to eifrs at Online IFRS resources from Deloitte, PwC, EY, and KPMG: Other supplementary materials will be available on itslearning. Computer requirements / tools itslearning Teaching Lectures, cases, and group work Requirements for course approval Group project (pass/fail) Assessment Four-hour written exam Grade scale A-F Computer tools None. 6

26 ECN401 Applied microeconomic theory Endringer i vurderingsform Andre endringer også i bold Course responsible and department: Mathias Ekström, Eirik G Kristiansen, and Fred Schroyen, Department of Economics Semester: Spring Credits: 7.5ECTS Teaching language: English Prerequisites (recommended/needed): Students should be familiar with the material covered in the undergraduate mathematics course MET020 and the undergraduate microeconomics courses SAM010 and SAM020 (for a description, see the Student Handbook 2013/2014). The lecture series will be preceded by two lectures brushing up skills and knowledge of mathematical and statistical tools that will be used in later lectures. These two lectures are supplementary and not part of the ECN401 lectures. Objectives: This course will cover a range of useful microeconomic tools for investigating firm and consumer decisions, market outcomes, and public policies. In the first part of the course, students will acquire further insight in models of consumer behavior, general competitive market equilibrium and public good provision. These insights and tools will then be used to find the answer to a range of empirical and theoretical questions. The second part will introduce students to game theory and equilibrium concepts. We use game theory to analyze different situation where buyers, firms or countries interact. Students will be able to use game theory tools to examine how the performance of markets and firms depend on strategic interaction and information about other players actions and characteristics. To enhance students understanding of the models, special attention will be paid to connecting theory and relevant applications. In addition, classroom experiments will give students first hand experience of the strengths and weaknesses of microeconomic models. The course will provide a solid background to attending any course using microeconomic tools. Examples include industrial economics, behavioral economics, labor economics, public economics, corporate finance and international trade. Learning outcomes: By the end of the course, the student 7

27 - will have acquired the skill to apply a theoretical model to economic situations; - will be able to use the theoretical model to interpret the empirical evidence; - will have acquired the knowledge to formulate a theoretical model to address a microeconomic problem; - will understand how one can test the theoretical model using economic experiments Topics (and examples of applications) A non-exhaustive list of topics covered in the course include: - consumer preferences and demands (Do people make consistent choices? Do Giffen goods really exist?); - expenditure functions and welfare measurement (Is Santa Claus an economist? What is the efficiency loss of the US food stamp programme?); - general equilibrium and the welfare gains of shared information (What are the efficiency gains of mobile phone coverage along the coast of Kerala?); - the demand for insurance and the welfare losses of asymmetric information (Unravelling of insurance markets); - public goods and other market failures (why no one wants to pay for a new road, but everyone will use it); - basic concepts in game theory (with applications on oligopoly, trade and tariffs, voting, tennis, law enforcement); - dynamic games and reputation models (with applications on advertising, limit capacity, price guarantees, collusion); - incomplete information (with applications on contract design, signaling, incentives, and auctions). Literature The course will be based on a selection of articles. Students are also expected to read up on relevant chapters in Samiran Banerjee (2015) Intermediate microeconomics: a tool-building approach (London: Routledge) and in Joel Watson (2013) Strategy An introduction to game theory, 3th ed (New York: W.W. Norton) Teaching Regular lectures and four classroom experiments. Requirements for course approval 8

28 There will be two compulsory problem sets. Handing in of these sets is required to obtain credit for the course. In addition, students should participate in at least three of the four classroom experiments. Evaluation There is a three hour written exam consisting of problems related to both parts of the course. The final evaluation will be based for about 70% on the exam (5.3 ECTS) and for about 15% on each of the compulsory exercise sets (together 2.2 ECTS). Grading scale A - F. 9

29 ECN421 Behavioral Economics Endring i kursansvarlig Course responsible Mathias Ekström, Department of Economics. [Lars-Ivar Oppedal Berge has been removed as course responsible] Objectives The objective of the course is to introduce students to the theoretical toolbox, and contemporary empirical research in behavioral economics. This will be done by using the standard economic model of choice as a benchmark and extend it with insights from psychological research. Following this approach will allow us to provide a better understanding of financial decision-making, labor market outcomes, and consumer behavior. We will then discuss implications for marketing, public policy and management practices. Topics We will cover the workhorse models of behavioral economics, biased beliefs, and the importance of how alternatives are presented. A non-exhaustive list of topics include: - Social preferences - Reference dependent preferences - Time inconsistent preferences - Projection bias - Self-serving bias - Social learning - Mental accounting - Limited attention - Menu effects - Social pressure - Emotions In addition we will discuss different empirical methods that are commonly used in the study of behavioral economics. Focus will be on the pros and cons of laboratory experiments, field experiments, and observational studies. Learning outcomes Students will after completing the course: - Understand the basic premises and models of behavioral economics - Have the ability to analyze human behavior based on these insights - Be able to suggest interventions (policies, campaigns, offers, etc.) rooted in behavioral economics - Be able to critically evaluate these interventions to typical interventions based on standard economic theory - Be familiar with different empirical methods that are suitable to test behavioral hypotheses Prerequisites An undergraduate course in behavioral economics is no prerequisite; on the other hand, students that have taken such a course are highly encouraged to enroll to deepen their knowledge. Literature - Wilkinson and Klaes (2012), An Introduction to Behavioral Economics (2nd edition) - DellaVigna (2009), Psychology and Economics: Evidence from the Field, Journal of Economic Literature - Selected articles Teaching Regular lectures. 10

30 Requirements for course approval Students must pass a written assignment in order to take the exam. Exam The final grade will be based on assignments (30%) and a final exam (70%). Grading scale A - F. 11

31 ECN429 The Economics of Aquaculture and Fisheries Management Ingen synlige endringer Course responsible Linda Nøstbakken, Department of Economics. Learning outcomes: This course examines the production, management, and markets for captured and farmed fish. Students will learn the fundamentals of fisheries bioeconomics, why there is a need for fisheries management and regulation, and how different types of regulations affect economic behavior. Furthermore, students will obtain an understanding of the production process in intensive and extensive aquaculture. They will learn about externalities in both aquaculture production and fisheries, and how to value them. Topics Topics the course addresses includes: Overview of world fisheries, aquaculture, and markets for fish. The law of the sea and its historical development. National and international institutions dealing with fisheries management. The history of fisheries and aquaculture in Norway Bioeconomic analysis of fisheries: o How nature limits the production of fish. o The inefficiencies and need for management arising from fish stocks as common property. How to resolve these issues. o The role of property rights. o Community-based management. o Spatial analysis and marine reserves. o Multi-species interaction, by-catches and discards. Modeling aquaculture production: o Modeling the production process for salmon o Salmon farming and the rotation problem. Fisheries and aquaculture in developing countries: o Current situation and challenges. o Extensive aquaculture production. o Resource shocks and the general economy. Non-market valuation of eco-system goods and services: Methods and applications. Seafood markets and ecolabels: o Seafood labels. Ecolabels related to seafood products, such as MSC, dolphinsafe, and Ocean Wise. How do they help? o Mislabeling of seafood. Do you actually get the type of fish you meant to buy? Financial markets and financial products of fish: o Theories of financial contracts. Can financial contracts help fishing firms and fish farmers? How? o Financial products of fish. Fish Pool Index, forward prices, OSLO Seafood Index (OSLSFX), etc. 12

32 Prerequisites The students must have a basic knowledge of economics (bachelor level), calculus, and regression analysis. Literature Selected textbook chapters and papers from academic journals. Teaching Plenary lectures. Requirements for course approval Satisfactory answers to homework assignments. Exam 4-hour final exam. Grading scale A-F 13

33 ECO433 - Empirical Strategies for Causal Analysis Kursansvarlig Endring i litteratur Course responsible Aline Bütikofer, Department of Economics. Learning outcomes: The course introduces causal analysis - empirical techniques that are frequently used in management and economics - and teaches students how to apply these methods to actual observational and experimental data. The goals of this course are to equip master level students with the intuition and skills necessary to understand and estimate causal effects and to enable students to use these methods for their master thesis and later professional career. Relevant topics and data sets for master projects as well as potential uses in business, marketing and policy analysis will be discussed. Examples from the literature and step-bystep tutorials offer hands-on experiences in utilizing the methods. At the end of the course students - are able to formulate a research questions - are able to critically assess reports discussing associations between variables and interpret causal effects - are able to independently estimate causal effects for instance as a part of a master thesis or in future professional careers - understand the assumptions necessary to estimate causal effects - know how to write and run do-files with relevant commands and produce tables and figures in STATA Topics In most of economics, marketing and business management, we are interested in causal relations between variables, rather than mere correlations. For example, it is not the correlation between marketing expenses and sales that is of interest, but the effect of increasing marketing expenses for a product on the sale volume of the same product. In this course, we study methods for estimating and identifying such causal effects. First, the course provides a short review of basic regression techniques. Second, we introduce the topic of causal analysis. We will define causal effects based on the potential outcomes framework, encounter the fundamental problem of causal analysis, and discuss what separates association from causation. In the third part of the course, we discuss randomized experiments as the predominant way for establishing causality. Last, we use the potential outcomes framework to discuss designs and methods for data from observational studies. In particular, designs and methods covered include instrumental variables, difference-in-difference, regression discontinuity design, and synthetic control method. 14

34 Preliminary course outline: - Short review of basic regression techniques (inference, asymptotics and dummy variables) - Causal inference using potential outcomes - Randomized experiments - Regression and causality - Instrumental variables (LATE) - Fixed effects and panel data - Differences-in-differences - Regression discontinuity design - Synthetic control method Prerequisites From Fall 2015 the following prerequisites will apply: We assume familiarity with linear regression at the level of the courses ECO402, or equivalent. Literature Angrist and Pischke (2014): Mastering Metrics - The Path from Cause to Effect, Princeton University Press. Teaching Plenary lectures, STATA labs sessions, case proposal/assignment and oral presentations. Requirements for course approval Students must pass the written assignments and the presentation in order to take the exam. Exam The final grade will be based on assignments and class presentations in groups (40%) and a final exam (60%). Grading scale A - F. Computer tools STATA 15

35 ECO439 - Resource Economics Ingen synlige endringer Course responsible Linda Nøstbakken, Department of Economics. Prerequisites The course makes use of mathematical optimization methods and microeconomic theory. Students should have skills similar to those obtained from ECO401. Learning outcomes This course examines the operation of markets for natural resources including minerals, fossil fuels, fish, forest resources, and water. Physical processes determine natural resource abundance, and the course will introduce students to such processes. Students will learn that this link to natural processes is what sets natural resource economics apart from other fields. The course will make students familiar with economic theories of exploitation of renewable and non-renewable resources, especially the inter-temporal aspect of resource extraction and strategic issues arising from competition among a limited number of agents. Examples of the latter include strategic interaction in resource markets, sharing of common resource stocks among individuals or countries, and environmental problems such as climate change. The course also deals with natural resource regulations and the implications of various regulations on economic behavior. The course will enable students to: - Set up and solve static and dynamic optimization problems. - Formulate, analyze and interpret economic models of resource markets and extraction analytically using differential and integral calculus. - Formulate, analyze and interpret economic models of resource markets and extraction numerically using Excel s Solver or similar tools. - Use and understand simple biological models for studying fishery and forest resources, geological concepts for examining oil and minerals, and hydrological concepts for examining groundwater. - Understand various incentive margins that affects behavior in resource extraction and resource markets, and how regulations affected them. Topics The course addresses the following topics: - Static and dynamic optimization methods - Non-renewable resources in an inter-temporal perspective o The competitive Hotelling model o Imperfect competition, exploration - Theoretical and applied models of common property resources, especially fisheries, including: o Management of common property resources o The role of property rights o Over-exploitation and extinction - The economics of water resources - The economics of forestry resources o The Faustmann model, results and applications 16

36 o Forestry resources and land use o Carbon sequestration o Deforestation and economic development - The economics of biodiversity: measures, models and applications - Valuing ecosystem goods and services: o Non-usage value o One time/continuous development of an ecological landscape o The production method - Trade and resource use - The resource curse - Various special topics, such as regulatory enforcement and compliance in resource industries, social norms and resource use, economic growth and sustainability, stochastic optimization and real options, the economics of global warming, and pollution control under uncertainty. Text resources - Textbook: Conrad, J.M. "Resource Economics." 2 nd edition. Cambridge University Press, Journal articles: Selected papers from academic journals. Teaching Plenary lectures. Course requirements - Homework assignments: Students must submit several assignments on time and be awarded a "pass." - Term paper: Students must, alone or in groups, write a paper on a topic related to the course and present their findings in class. Course assessment - Exam (70%): A three-hour, written exam. Grading scale: A-F. - Term paper (30%) 17

37 ENE 430 Commodity Trading and Transport Krav til besvarelser på engelsk Professor Roar Ådland, Department of Economics Credits 7,5 Teaching language English Prerequisites Basic knowledge in finance (discounting, net present value, options), microeconomics (supply functions, demand, elasticity) and statistics (probability distributions, expectation, standard deviation, variance, and regressions). Learning outcomes The objective of the course is to give students in-depth knowledge about the global trade of commodities, both physical and financial, with a focus on the operational real-life business decisions that affect the profitability and risk exposure of traders, consumers, suppliers and shippers of commodities. The course is practically oriented and focuses on understanding key business terms, instruments, risks and markets used in commodity trading. The lectures may include examples from a broad range of commodity markets, both agricultural (soybeans and grains), steel, iron ore, coal, gas, crude oil and freight. The emphasis is on how to manage uncertain market conditions and make a calculated choice between different options relating to the sourcing, delivery and transportation of commodities. A central theme is also the interdependence between the various commodity markets and the ocean transportation market, in particular how freight management affects the profitability and competitiveness of companies. Completing the course should produce the following learning outcomes for the candidate: Knowledge the candidate. Can analyze the key drivers of supply and demand for the major commodity groups. Has thorough knowledge of the financial markets for commodities, including price indices, exchanges and instruments. Has thorough knowledge of why prices for certain commodities share particular patterns (mean reversion, seasonality, shape of the forward curve). Has thorough knowledge of the physical trading of commodities such as shipping terms, ship types, port issues and the transfer of physical risk and property. Can analyze the risks of commodity trading (both price risk and physical risks) and how some risks can be managed, but also appreciate why hedging instruments can be imperfect or ineffective given the complexities of these markets. Skills/competencies the candidate. Can analyze and deal critically with the strategic and operational choices faced by companies operating within the commodity space. 18

38 Can use relevant methods for finding data on the commodities markets and use the sources of information to structure scholarly arguments in practical decision making related to the transport and trade of commodities Can communicate with industry people about key issues in the trade and transportation of commodities by mastering the language and terminology of the business Topics The following topics will be addressed: The geography of global commodity trade: Areas of production and consumption, the reasons for changing trading patterns and volumes, an overview of the different types of commodities and the players involved. The principles of trading: Fixed and floating prices regimes, terms of sale, quality differences, the impact of storage, the role of exchanges and clearing houses The physical shipment of commodities: ship technology and shipping terms, functioning of the freight markets, freight contracts and voyage calculations, port issues Risk management: What are the risks? Hedging instruments and insurance, mismatch between physical and financial positions, the risk management process Teaching Each lecture will start with a real-life question from the topic to be covered in class and each such short case will be discussed in plenum towards the end of the lecture. Guests from the industry will also lecture on selected topics. The curriculum includes selected academic papers as detailed in the course schedule below, some of which are recommended reading only. Computer tools PC: Word, PowerPoint, Excel. Requirements for course approval Two mandatory assignments, evaluated on a Pass/Fail basis, must be submitted on time in order to obtain course approval. Assignment 1 is a group-based written assignment. Assignment 2 is a group-based presentation on a chosen topic to be presented in class. The assignments will be evaluated based in part of the correct use of terminology and the quality of the written language and presentation. In all cases the group size should be 4 students. The assignments can only be answered in English. Attendance at guest lectures and student presentations is mandatory. It is also expected that students are present in the other lectures and participate actively in discussions, particularly of case studies. Evaluation There is a single grade for the course given on the basis of a group home exam (4 students). Grading scale A - F. Late submissions will receive a Fail. The exam can only be answered in English. 19

39 FIE402N/E - Corporate Finance Reduksjon i eksamenstid Instructors Professors Thore Johnsen (fall), Tyler Hull (fall), Konrad Raff (spring), and Michael Kisser (spring), Department of Finance and Management Science. Objectives The focus of this course is how to make optimal corporate financial decisions. Having finished the course, students will have a better understanding of the principles and tools for evaluating the firm s investment and financing decisions. They will be able to analyze complex investment decisions by using techniques such as discounted cash flow (DCF) valuation and real options. They will better understand the various trade-offs involved in making financing decisions such as the firm s choice of capital structure (i.e. debt and equity mix) and dividend policy, and they will comprehend how financial decisions may affect the firm s cost of capital and value. In addition, students will gain an understanding of and institutional knowledge in areas related to equity and debt issues. Topics The course is built around the following three main topics: (i) Valuation and value creation: project analysis, pricing of shares, cost of capital (ii) Options in corporate finance: real options, equity as an option, convertible debt (iii) Financial strategy: capital structure, dividend policy, issuing of securities Prerequisites None. Students may take this course either before or after FIE400 and FIE403. Literature Berk and DeMarzo, Corporate Finance, Pearson Global Edition, 3rd edition. A course package containing additional readings and case assignments is sold by the Compendium Office. Note that the content in this course package may change from term to term. All written materials are in English. Teaching Lectures in Norwegian/Swedish (402N) or in English (402E). All power points are in English. Students should be prepared to discuss case assignments in class. Requirements for passing the course Students have to successfully complete 50% of the assigned homework problems in MyFinanceLab on time. These problems involve basic calculations and concepts related to the materials covered in class. Each home work set carries equal weight. That is, if you miss one practice problem set, you need 100% of the answers correct on the next practice problem set. In addition, there will be five case or exercise assignments during the term, to be solved either individually or preferably in groups of three to four students. At least one of these assignments must be handed in and approved. Each approved hand-in will give 4 points towards the final grade on the exam, for a maximum of 20 points. The write-ups are graded as either approved (4 points) or not approved (0 points). Approval requires that the hand-in demonstrates an ability to analyze the material with a reasonable degree of judgment and independent thinking. Note that (i) the assignments will not be returned to students; and (ii) they will only count towards the exam in the term that they are handed in. 20

40 Exam There is a three-hour long written final exam. The final exam will have a maximum score of 100 points. The exam will be written in English. Students may respond in Norwegian or English for the course offered in Norwegian whereas for the course offered in English students have to respond in English. Students are allowed to bring a calculator with empty memory. In the term case credits are earned, the total grade is based 80 percent on the final exam and 20 percent on the case write-ups. In any subsequent term, the final grade will be based 100% on the final exam. The overall performance will be graded on a standard scale from A to F. Computer tools Knowledge of Excel. Access to the internet and MyFinanceLab. For students who wishes to not buy the course book (Berk and DeMarzo), a license to MyFinanceLab can be purchased directly from the internet. 21

41 FIE433 International Finance Endriger markert i gult Course Responsible: Associate Prof. Michael Kisser, Department of Finance Semester: Spring 2016 Credits: 7.5 ECTS Teaching Language: English Learning Outcomes The course introduces students to the conceptual framework in which financial decision making of international firms takes place. Students will learn to assess the riskiness of a currency from a firm s perspective and how to manage this exposure. In addition to the theoretical underpinnings of international finance we will cover the practical side of international financial decision making - the investment and funding problem. Thus, typical problems of global funding and international investment strategies as well as capital budgeting and capital structure issues will be analyzed from an international perspective. The course provides a basic understanding of international financial markets and institutions and aims particularly on international risk assessment (currency risk, political risk) and management. Knowledge and understanding After completing this course, the student will have Gained insights into the financial risks and opportunities of a multinational company Learned how to assess and manage financial risks Familiarity with typical international financial instruments An understanding of the application of these instruments in a global context Cognitive and subject specific skills Students on completion of the course will have The understanding how current international monetary systems function The ability to apply tools for measurement and management of currency risks The knowhow to make use of financial instruments available for internationally operating firms: equity instruments, debt instruments and derivatives The skills for investment-decision making in an international context The ability to conduct a financial analysis The ability to analyze situations dealing with problems of international firms Topics The course is built around the following main topics: Introduction to Foreign Exchange Markets and Risks International Parity Conditions and Exchange Rate Determination 22

42 International Capital Markets International Corporate Finance Foreign Currency Futures Literature Textbook: International Financial Management, by Geert Bekaert and Robert Hodrick, Second Edition (Pearson) Additional reading assignments will be handed out in class. Prerequisites There are no formal prerequisites for the course but students are expected to be familiar with basic finance concepts (e.g. time value of money; capital asset pricing model; project valuation) typically covered in most bachelor-level finance courses (or, alternatively, in FIE402 or FIE400). Teaching Lectures, Tutorials and Class Discussions. Exercises / Case Studies There will be up to 5 homework assignments during the term, which students have to solve individually. Exam There is a four-hour long written final exam. The exam will be written in English and has to be answered in English. Final Grade The course yields one overall grade, which is based 80 percent on the final exam and 20 percent on the homework assignments. 23

43 FIE437A - Valuation Endring i vurderingsform (vekting) Endring i beskrivelse av karakterfastsetting Course responsible Einar Bakke, Department of Finance. Learning outcomes: The course covers advanced valuation techniques used for thorough modeling of a firm's value. The aim is to provide students with advanced knowledge and in-depth understanding of the concepts behind fundamental value, and the underlying assumptions in order to sensibly apply their existing theoretical understanding of valuation. The course will be relevant for students seeking a career in equity research, investment banking, highlevel consultancy management consulting, and larger corporations in Norway and internationally. Upon completion of the course, the candidate shall: - have obtained an advanced and integrated understanding of fundamental drivers of value, and valuation techniques. - have implemented and understood the use of this knowledge in practical settings. - be able to apply the main valuation techniques to real companies, to form an informed opinion as to the fair value of a company. - have increased competence in presenting and discussing complex corporate valuation issues in a challenging context. - be able to take complex financial information and distil from this the information important for valuation. - have confidence in conducting clear, written analyzes and presentation of fair value of a corporation or project towards investors, top management and board of directors. - have completed demanding case work and presentations as constructive members of a student group. - understand the need for a substantial effort and high precision needed to excel in a demanding roles of equity research analysts, management consultants or investment bankers. Topics The main course topics are: Fundamentals of Value Creation Relative Valuation the Link to Fundamental Value Corporate Portfolio Strategy M&A transactions implication on Acquirer s value Reorganizing Financial Statements Analyzing Historical Performance Forecasting Future Performance Estimating Continuing Value Sensitivity and Scenario Analysis Foreign Currency Cost of Capital o Cost of Equity o Cost of Debt Debt & Taxes Minorities & Debt Equivalents Getting to Price Per Share In addition, the students will be given feedback on their Presentation, Writing and Typography skills in relation to their reports and presentations of their case company. The final report and presentation will partly be graded on how convincing, understandable and well argued the report and presentation are. Communication efficiency is therefore essential. 24

44 Prerequisites Students taking this course are required to possess a good understanding of corporate finance, as documented through either a prior completion of the course FIE402(E) or equivalent courses at other institutions. This is an advanced course in Corporate Valuation and students are expected to have a basic grasp of valuation prior to taking the course. Students not meeting these requirement will need the instructor's approval. The course is equal to FIE437B and students will not get credit for both courses. Literature Koller/Goedhart/Wessels ("The McKinsey Book"), Valuation, 6th Edition, McKinsey & Co (2015). The whole book, but in particular Parts I-II & V (and any other chapter applicable to your case). Additional Texts: (some of the lecture material draws on these texts - not required reading) Greenwald & Kahn, Competition Demystified: A Radically Simplified Approach to Business Strategy, (2007) [Strategic Analysis] Damodoran, Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, 3rd Edition (2012). [In particular Relative Valuation]. Penman, Financial Statement Analysis and Security Valuation, 5th Edition (2012). [An accounting oriented approach to valuation]. Teaching Students will work in groups of three. The only exception would be if the number of students is not divisible by 3, which would result in one or two groups consisting of two students. This course is an advanced and applied corporate valuation course. In order to achieve maximum learning potential, the course is entirely case based, which means extensive casework on the part of the students. One or more industries will be selected, depending on the number of students/groups. The number of industries will be restricted to a minimum of 3 or more groups working in the same industry in order to enable comparable analysis within industry, and induce interest for in class discussions of their casework. An industry covered the previous year is not accessible the following year (exception may apply). Each student group will work on one listed company throughout the course, and will share their model(s) with other groups also covering that industry towards the end of the course in order to create an opportunity to conduct comparable analysis between case firms within industries. A firm covered the previous year by a student group is not accessible the following year. All teaching will be conducted intensively, and followed up by an online multiple choice test of the material covered in the lectures, available for a limited time following each of the lectures. These tests will carry points towards the final grade, but are not individually mandatory. They are strictly there to incentivize students to review the lecture material before working on their case. The student groups will have to hand in multiple reports and spreadsheet models (with 'user manuals'), as well as conduct discussions (within industry group) of modeling issues. Students will twice present their casework. Finally, each group will issue an "Analyst Report" and "Pitch" (present) their "Investment Case" (BUY/HOLD/SELL) to "investors" (the class). To increase the effectiveness of class discussions, the number of students is limited to 45 and priority is given to FIE students if the limit is reached. Read more about the course here: Requirements for course approval The success of a case based course depends on student participation, and therefore class attendance is crucial. Absence from class affects the "class participation and presentation"-grade negatively and students may also fail the course for this reason. 25

45 Group work, in groups of 3 people (the only exception being that one or two group have to consist of 3 students due to the student numbers not being a multiple of 3). All Percentage given in [brackets] below represents percent of the total grade. Each group will hand in the following work (Graded on a Group Basis): [40 percent of the total grade] 1. ("Buy-side") Firm/Industry Report - Relative Valuation [10 percent] 2. Spreadsheet Model with User Manual: Reorganizing the Financial Statements & Historic Analysis [10 percent] The following revisions will be required: a. Reorganizing the Financial Statements [5 percent] b. Analyzing Historical & Forecasting Performance [5 percent] 3. Fundamental Valuation (of the Operating Assets) [10 percent] Including the "Final" Model/Manual (distributed to the "Industry Group"). 4. (Polished) Sell-Side Analyst Report (incl. Non-Ops) [10 percent] Individually graded: - 4 (online) Multiple Choice Test [each 10 percent] (minimum 10 percent in total to pass) - 2 Presentations (with the group) of the Reports [10 percent each] - 2 Workshop (presentation of preliminary results) [Pass/Merit/Distinction] - Actively engage in class discussions [Pass/Fail] All elements are graded using Pass/Merit/Distinction to indicate performance during the course. Pass indicates meeting the minimum requirements. Merit reflect a solid performance, and should be the expected grade. Distinction is only awarded for outstanding work (and restricted to a maximum of a third of the class per assessment). An overall Merit will suffice for an A or B final grade if the multiple choice test reflects these grades. The Multiple choice tests are graded based on the following thresholds (percent for E to A): 30/40/50/75/90 All Elements will be graded on a 1-9 Scale with the following conversions to ECTS Grades: 2 = E, 3 = D, 4 = C, 5-6 = B, 7-9 = A. The Multiple Choice Tests will convert as follows to grades 2 (pass) through 9 at the following thresholds (percent): 30/40/50/65/75/85/95/100. Mandatory Attendance: Attendance in all classes is mandatory for this course. Exemptions for not attending a specific class can be obtained from the lecturer on a case by case basis. Exam The course grade will comprise of 4 Elements: Group Based Reports (40%), Multiple Choice Tests (40%), Presentations (20%), Class Participation/Attendance (Pass/Fail). All Elements Must be passed. There is no final exam. Grading scale A - F. Computer tools Excel, Word, Powerpoint (or equivalent) and relevant data-sources will suffice. 26

46 FIE443 Mergers and Acquisitions Endring i vurderingsform Summary Study points: 7.5 Teaching language: English Semester: Spring Program of study: Master Course responsible Professor Karin Thorburn, Department of Finance Learning outcomes Students will acquire skills that are necessary to structure a deal or form an opinion about a proposed transaction. Upon completion of the course, students shall: Have obtained a deep understanding of pertinent issues in M&A Be able to build simple models to value a target Have a basic understanding of the implications of different payment methods Understand the incentive effects of various deal financing Be able to identify, structure and pitch an M&A transaction to a potential acquirer Be able to present and defend your financial analysis of a case Topics Value creation in mergers Choice of payment method Accretion/dilution Valuation of contingent payments Incentive effects of deal financing Deal protection devices Governance issues in M&A Merger arbitrage Bidding strategies Merger negotiations Leveraged buyouts Hostile takeovers and defensive tactics Minority buyouts Prerequisites Students are required to have taken a master-level course in corporate finance, such as FIE402 or equivalent, and be familiar with excel and words. Literature Mergers, acquisitions, and corporate restructurings by Patrick A. Gaughan, 5 th ed., John Wiley & Sons, Course package, containing articles and cases. Teaching 27

47 This is a case based course, supported by lectures and visitors. While the readings are extensive, the emphasis of the course is on the analysis of the assigned cases. Students have a responsibility to be well prepared and to participate actively in the classroom discussion. You should be ready to discuss your analysis of the assigned case and to show your calculations. I encourage voluntary participation but may call on any student to discuss the assignment. While you are encouraged to work in groups when preparing for class, all class participation is individual effort. The course will be taught relatively intensively from mid-january to early March. The final presentation of the term project will be scheduled for late May. Requirements for course approval Hand-in of one case write-up due in January (individual assignment). Class attendance and participation is mandatory. Exam Contribution to the class discussion (40% of grade). Presentation and hand-in of written term paper (50% of grade). Peer evaluation of the other students in the team (10% of grade) Class participation is individual effort while the term paper is a group assignment. All classroom discussion and the term paper should be in English. Grading scale A-F. Class size restriction The class is limited to 40 students. However, all interested students are welcome to attend the first week of class. For a complete course outline and case materials for the first two weeks of class, see the finance department s website or karin.thorburn@nhh.no. 28

48 MBM420 - Brand Strategy Endringer markert Course responsible Professor Lars Erling Olsen, Department of Strategy and Management Learning outcomes: The students will develop in-depth skills in understanding, developing and executing brand strategy, and become familiar with methodological tools useful for developing brand strategy. After completing the course, student should: 1. Be familiar with the most central processes and constructs in brand strategy 2. Be able to utilize central theories from brand management, and consumer behavior to effectively design brand strategy for products, services and corporate brands. Topics Brand strategy is an important part of corporate strategy and key to developing competitive advantages. One reason for this is that the brand strategy approach has general applicability, and the relevance of brand strategy is not restricted to traditional consumer markets, but is equally important in services and industrial markets. Another reason is that brand strategy and -management explicitly deals with how to differentiate a company's offering from its competitors, and consequently brand management is a key component in corporate strategy. The course focuses on contemporary topics in brand strategy including positioning brands in the marketplace, brand extensions, brand alliances, international brand strategy and brand portfolio management. In addition the students will get practical training in brand strategy by playing a computer-based simulation game. Themes: Brand Positioning Brand Extensions Brand Alliances Brand Placements International brand strategy Brand Portfolio Management Computer-Based Brand Positioning Simulation Game Designing Brand Marketing Programs Prerequisites Basic knowledge on consumer behavior and brand equity. We recommend students to take the course in Brand Equity prior to the course in Brand Strategy, but that is not a formal requirement. Literature Keller, K.L. (2012). Strategic Brand Management: Building, Measuring and Managing Brand Equity. Fourth Edition. Selected articles. 29

49 Teaching Primarily plenary sessions, including in-class cases and a student home assignments (group term paper). Requirements for course approval Submitted term paper in class. Mandatory assignments in class. Exam Three hour written exam and group term paper. Group term paper counts 40% of total grade. The exam counts 60%. The three hour written exam can be answered in either English or Norwegian. The group term paper must be submitted in English. Grading scale A - F. Computer tools NHH uses ItsLearning as the online teaching platform. Lecture notes, announcements, resources, and other related material will be posted on ItsLearning. Each student has the responsibility to regularly check and download material from ItsLearning. Summary Study points: 7.5 The exam in this course is divided into several parts: MBM420EKS 4.5 MBM420OPPG 3 Teaching language English. Semester: Spring. Program of Study: ENE IB MASTERUTV MASTER MBM MRR08 30

50 MBM422 - Social Media Marketing Endringer markert Course responsible Professor Ingeborg Astrid Kleppe, Department of Strategy and Management. Learning outcomes: Social media platforms such as Facebook, YouTube, Twitter, Pinterest, Flickr, blogs, and collaborative platforms such as k Kickstarter, Uber, AirbnbBnB have irrevocably changed the way consumers communicate, understand, organize, and influence the world. In this course we will unpack new business concepts such as social brand engagement; word-of-mouth marketing; the sharing economy; crowdsourcing; and crowdfunding. transmedia storytelling; and content marketing. These new business concepts all play on the social interaction among consumers sharing, chatting, co-creating, inspiring and mobilizing new ideas and practices in the marketplace. The key for market strategists is therefore to understand this interaction. Social media offers fantastic opportunities to directly observe and record data from authentic online conversations and marketing projects. You will learn how to apply Netnography - a method designed to study social media content. data to help you to make exciting discoveries in consumer online interactions. By the end of this course you should Be familiar with key concepts to describe consumer interaction both online and in the real world. Be able to describe and analyze content and interaction Be able to reflect on the practical business and marketing implications of brand social media interactions and communities. across a wide set of industries. Be able to use key concepts in social media consumption and marketing. Be able to reflect on theoretical and practical implications of social media consumption and marketing. Identify new relevant ethical issues in social media marketing. Topics Netnography textual and visual analysis of social media content Consumer content production Social brand engangement and company engangement strategies Consumer influence and opinion leaders blogger and entrepreneurs Collaborative economy: sharing, crowdsourcing and crowdfunding projects Online consumer interaction and co-creation in consumer communities, tribes, cults, crowds, swarms, hives Word-of-Mouth Marketing strategies; Crowdsourcing; Gamification; Transmedia storytelling Prerequisites Students must have completed a Bachelor degree to attend. Literature 31 Teaching Course text book: Kozinets, Robert V. (20150), Netnography. Redefinied, 2 nd editions, Sage Publications Ltd, London: UK Doing Ethnographic Research Online, Sage Publications Ltd, London: UK. Top tier course papers from past semesters Cutting edge scientific articles available on the course homepage on it's learning Lecture style presentations will introduce topics and develop ideas. Topical workshops. Student exercises and case presentations. Invited social media experts from academia and industry.

51 Requirements for course approval In order to complete this course successfully, students must meet the following minimum criteria: 1) Submit course paper drafts and final course paper on time; 2) Do the class assignments well and participate in class discussions. 3) Be active on course Twitter #, the NHH-social media Facebook group, and do the quizzes. on the course App. Exam Final Grade (grade system A-F) is will be based on the following assessments, weighted as indicated: 20% - individual score based on four quizzes distributed throughout the course and individual course engagement 80% - grade on course paper written in groups of three students Class presentation and report 20% and Course paper 80. The two components are aggregated into one grade. One aggregated grade will be given on the class presentation and the course paper. Students who wish to retake the course has to retake both parts in the same semester. Grading scale A-F. Computer tools NHH uses it s learning itslearning as the online teaching platform. Lecture notes, announcements, resources, and other related material will be posted on it s learning itslearning. The course also has a Facebook group. Summary Study points: 7.5 Teaching language English. Semester: Spring. English title: Social Media Marketing Program of Study: ENE IB MASTERUTV MASTER MBM 32

52 MBM427 - Business-to-business marketing and management Endringer markert Course responsible Sven A. Haugland, Nasun Moadmuang, Ganesh Neupane, Department of Strategy and Management. Learning outcomes: The students should acquire knowledge about industrial marketing decisions, especially how firms establish develop and maintain profitable relationships to other firms. The students should after completing the course: understand how companies can cooperate and coordinate activities from production to use have knowledge in how to manage long-term business relationships and networks understand how relations and alliances between buyers and sellers develop over time be able to apply theories and models on practical problems that are relevant for companies be able to communicate the knowledge in written and oral form Topics Business or industrial markets are characterized by products having a substantial technological component, high level of service and complex financial solutions. The relationships between buyers and sellers will be different from relationships in consumer markets. A small number of customers and a high degree of dependence upon each specific customer often result in relationships between sellers and buyers that over time have a substantial impact on firms' competitiveness. The products are often tailored to each specific buyer and require a high level of interaction between seller and buyer. Different forms of cooperation and alliances become important even for companies operating in highly competitive markets. The course focuses on the design and development of profitable relationships throughout value chains from producer to final consumer. A value chain is an inter-organizational system that makes products and services available for purchase. Focus in the course is on how companies (institutions) can efficiently interact in order to transfer products and services from production to use and consumption. We will analyze business-to-business relationships both from an economic and behavioral perspective. We draw attention to how companies can cooperate and coordinate activities throughout the value chain. We will here address the benefits that can be realized by cooperation, and how long-term cooperative relationships can be developed and managed. Specific themes: Value creation and value capturing Vertical integration and outsourcing Contracts, incentives and relationships Organizational buying decisions Industrial brands Benefits companies can realize from long-term relationships Organization and management of long-terms relationships Prerequisites None. 33

53 Literature Collection of articles and Markstrat participant handbook Teaching The course is organised as a combination of lectures, and simulations. The simulation program Markstrat B2B is used throughout the course. The students work in groups and each group is responsible for operating a simulated company and make a number of strategic marketing decisions within a B2B market. This combination of lectures and simulations emphasizes application of analytical skills on real business decisions. student presentations and invited guest lectures from outside companies/institutions. Requirements for course approval Course approval requires participation in a group, and the group is responsible for participating in the Markstrat simulation and submitting a number of simulation assignments. submitting a number of approved assignments. It is expected that the students are present during the lectures and participate in the discussions. Note: There might be compulsory activities in the course prior to the registration deadline. Exam Three hour written exam (60 %). Two written group-based case reports Written group-based report in relation to the Markstrat simulation (in English) (40 %). Grading scale A - F. Computer tools None. 34

54 MBM428 - Product Development and Design Endringer markert Course responsible Herbjørn Nysveen, Department of strategy and management. Learning outcomes: The students will develop an understanding of critical factors influencing the effectiveness and efficiency of product development and design. After completing the course, students should: 1. Be familiar with perspectives on product development processes. 2. Be able to use these theories to develop strategies for product development and design. 3. Be more competent in writing a course paper. 4. Be more competent in group work. 5. Be more confident in making presentations. Topics Because of rapid changes in technology, competitors positioning, and consumers preferences, continuous product development and innovation is a critical factor for sustainable competitive advantages. Also, consumers are increasingly aware of the self expressive elements of products, thus making visual design (product form and aesthetics) an important factor for market success. Examples of topics covered are product development processes, product development teams, management of product development, product platforms and modules how to use computer systems to support product development, visual design, open innovation and co-creation, and eco-friendly innovation. Main themes: Product development processes Success factors for product development teams Product platforms and -modules Computer supported product development Management of product development processes Visual design (Product form and aesthetics) Open innovation and co-creation Eco-friendly innovation and design This course also has a particular focus on product development as a part of a business model innovation logic. Prerequisites None. Literature Selected articles. Teaching Lectures: Only a few traditional lectures will be held. 35

55 Itslearning lectures: Most of the course will be itslearning lectures. A typical itslearning lecture means that the students read a few articles on a topic. In addition, full text lecture notes will be available to clarify and explain the main topics in the articles. Also, relevant videos and/or links to websites will be available for the students to illustrate and complement the articles and lecture notes. Course paper: You will be working on the course paper throughout the course. The course paper will be supervised and the groups will get feed-back three times on the course paper during the course. Presentation for expert panel: At the end of the course each of the groups should present their course paper. An expert panel will participate and evaluate and give feed-back to the presentation of each of the groups. the work of each of the groups. The course starts with a plenary lecture to give an overview of the course and how we will work. Groups will be formed in lecture 1 and 2. A special (social) session to form the groups will be held in lecture 2. A lot of the work in the course will be done in the groups. As can be seen, this course has a somewhat alternative pedagogical approach. It has a focus on guidance and supervision of students work rather than traditional lecturing. Requirements for course approval Each of the students has to participate actively in a group. Also, there will be smaller assignments tasks during the course that the individual participants or the groups will have to hand in. These tasks will be graded accepted/not accepted. These tasks have to be accepted to get a course approval. Exam Course paper (counting 40 percent of total grade) Presentation (counting 10 percent of total grade) Individual exam (counting 50 percent of total grade) Grading scale A - F. One aggregated grade will be given for the course paper and the presentation. Computer tools None. Summary Study points: 7.5 The exam in this course is divided into several parts: MBM428EKS

56 MBM428OPPG 3.75 Teaching language English Semester: Spring Program of Study: ENE IB MASTERUTV MASTER MBM 37

57 MBM429 - Service Innovation Endringer markert Course responsible Tor W. Andreassen, Department of Strategy and Management. Learning outcomes: After the course, students should have a good general understanding of service innovation, its challenges for large matire companies. They should have a particularly good understanding of service innovation characteristics and service innovation challenges at the firm level. They should be able to apply this understanding to the management and choice of methodologies and principles for stimulating firm level service innovation. Furthermore, they should have operational knowledge and skills in applying a limited set of practical service innovation methodologies (2-5) to facilitate firm level service innovation. Topics Business model innovation. Service innovation characteristics. Service innovation challenges at the firm level. Service dominant logic (service logic). Organizing for service innovation and service innovation processes. Service innovation management. Service design and design thinking as driver for innovation. Customer Journey Mapping to identify various touch points for excellent customer experiences Business model innovation Commercial issues pertaining to adopting innovations. Prerequisites Literature A collection of articles will be used. Teaching Regular lecturers, use of cases to illustrate the theory, and pratical hands-on exercises. Requirements for course approval Mandatory assignments. Exam Class participation: 15%; Three out of four case write-ups: 40%; Individual school exam (4 hours) (in English): 45%. Participants need to pass all elements in the same semester to be awarded a final course grade. Grading scale A - F. Computer tools The course homepage on its learning provides students with updates and messages. 38

58 Summary Study points: 7.5 Teaching language English. Semester: Spring. Program of Study: ENE IB MASTERUTV MASTER MBM MRR08 39

59 STR421 COMPETITIVE STRATEGY Endring i eksamensform Course responsible Chiara Canta and Sissel Jensen Learning outcomes The main topic in this course is strategic interaction between firms, with the objective to acquire an understanding of firms business strategies through a mixture of theory and case studies. We apply some rather simple game theoretic models to study actual behavior by firms. By the end of this course, the students will be able to Apply game theoretical tools to business decisions. Recognize and analyze firms' strategies for creating value and capturing the largest possible share of this value in various contexts. Predict optimal strategies depending on the business environment. Topics: Some of the topics covered are: Why do we observe fierce price competition, and how can firms avoid such an outcome? Will lack of coordination typically lead to excess entry? In which markets do we expect collusive behavior? Can collusion on prices lead to tough competition among other dimensions? How should an entrant behave in a market where it challenges a dominant firm? How may the competition authorities change the rules of the game? There will be case studies from various industries, and there will also be guest lectures. Prerequisites The course is based on a student background of intermediate microeconomics (e.g Pindyck and Rubinfeld) and Business Strategy. Literature The main required text book in the course is: A. M Brandenburger and B. J. Nalebuff: Co-opetition, Currency Doubleday, paperback edition, The course is based on a student background of intermediate microeconomics (e.g Pindyck and Rubinfeld) and students also need to have, or acquire, some basic knowledge on game theory. The following text book can for instance be used: DSR: A. K. Dixit, S. Skeath and D.H. Reiley: Games of Strategy, W.W. Norton & Company, third edition, In addition, we there will be several case studies, shorter notes and articles to be announced at course start. 40

60 Teaching Plenary lectures and student presentations. Requirements for course approval All students must participate in group work and produce a course paper on a given topic. The course paper must be presented in class. Exam Three hours written examination (50% of final grade); course paper (50 % of final grade). Grading scale A-F. Computer tools None. 41

61 STR433 - Etisk handling: Individ, organisasjon og samfunn Kursansvarlig Knut J. Ims, Institutt for strategi og ledelse Mål / læringsmål: Hovedhensikten er at deltakerne skal oppnå moralsk dannelse gjennom refleksjon over etikkmodeller og egne verdier, utvikling av etisk varhet, få trene sin trening i etisk fantasi og utøvelse av etisk skjønn (praktisk klokskap). Kurset søker å påvirke karakterdannelsen og unngå alle former for etisk instrumentalisme, dvs praksiser hvor etiske modeller og teorier brukes som midler for tvilsomme formål. Læringsutbytte til studentene vil bestå i en foredling av den enkeltes etiske skjønn, videreutvikling av empati og evne til å beslutte og handle i kompliserte situasjoner hvor den enkelte er konfrontert med vanskelige og påtrengende etiske dilemma. Studentene vil også få trening i teamarbeid gjennom prosjektarbeidet i kjernegrupper som som går som en rød tråd gjennom kurset. Gjennom de teoretiske modeller som anvendes i kurset vil studentene også få et utvidet perspektiv på enkelte sentrale økonomiske begreper. Studentene vil også få god trening i åpen og tillitsfull kommunikasjon gjennom deltakelse i dialoger og diskusjoner i plenum. De vil også utvikle sine evner til å sette ord på følelser og tanker, og få bekreftelse på at forståelse av og bevisstgjøring av etiske verdier er fundamentale for et godt liv. Erfaringsmessig vil denne spesielle kurskonteksten føre til at mange studenter utvikler vennskap som varer langt utover studenttiden The major purpose is to have the participants attain to moral acculturation development through reflection on ethical models and own values, development of ethical acuteness, training in ethical imagination and the exercise of ethical judgment (practical wisdom). The course aims at influencing the formation of ethical character and to avoid all forms of ethical instrumentalism, i.e. kinds of practice where ethical models and theories are used as pure means to suspect purposes. Innhold Teoretisk støtter kurset seg på dygdsetikk - inspirert av Aristoteles og relasjonsetikk (K. E. Løgstrup og E. Levinas). Det legges stor vekt på at deltakerne tilegner seg et personlig ansvarsbegrep. Kurset kan betegnes Metodemessig er kurset et etikkverksted hvor en veksler mellom studentpresentasjoner, prosjektarbeid i kjernegrupper, gruppe og plenumssamtaler, utvikling av egne rollespill samt etter-refleksjon av rollespillene., som er utviklet i kjernegruppen. Inndeling av studenter i kjernegrupper har til hensikt å skape trygge og gode muligheter for egenutvikling. Formativ evaluering med tilbakemelding på læringsprosessen gir kursdeltakeren muligheten til å justere sitt arbeid i løpet av kurset. Åpenhet og ekthet i plenumsdialog er essensielt. 42

62 Formativ evaluering skjer ved at hver enkelt student leverer inn tenkepapers' underveis i prosessen som det gis tilbakemelding på. Ved formativ evaluering vil lærers rolle som kunnskapsformidler forskyves i retning av rollen som veileder og dialogpartner. Theoretically, the course is based on the ethics of virtue inspired by Aristotle and proximity/relational ethics (K. E. Løgstrup and E. Levinas). Major emphasis is placed on facilitating the development of a personal concept of responsibility. Methodologically the course is a workshop on ethics, where one shifts between student presentations, group discussions and role play exercises. The discussion will revolve around the participants own projects and cases. Through the intended interaction between development of virtue and praxis, the course will to a large extent make use of reflections through dialogues based upon enacted role play activities. The role playing activities will be based on the project work in the core groups. Formative evaluation will be practiced through having each individual student hand in "thinking papers" during the process. In formative evaluation the teacher's role is transformed towards the role as mentor/couch and dialog partner. Emner/Topics: - Etiske posisjoner / Ethical positions - Aristotelisk dydsetikk / Aristotelian virtue ethics - Løgstrups begrep om suverene livsytringer / Løgstrup's conception of spontaneous manifestations of life - Ansvarsbegrepet / The concept of responsibility - Den etiske diamant / The ethical diamond - Moralsk dannelse / Moral 'bildung' - Teorier om moralsk utvikling / Theories on moral development - Rollespill som redskap for å stimulere læring / Role-play as a tool in order to facilitate learning Forkunnskaper Kurset tilsvarer LHR420, og man vil ikke få uttelling for begge disse kursene. Litteratur Kurslitteratur som lages ut fra deltakerens forkunnskaper og ønsker, og gis form i et spesialkompendium. 43

63 Undervisningsopplegg Undervisningsopplegget er delvis intensivt, med minst 3 timers økter. En veksler mellom innspill fra foreleser og studenter som er organisert som kjernegrupper. Alle må arbeide i en prosjektgruppe og utvikle og delta i et rollespill for klassen. Krav til kursgodkjenning Kursgodkjenning gis på bakgrunn av aktiv deltagelse i plenum, gruppearbeid, samt utvikling av og deltakelse i minst et rollespill. To tenkepapers innleveres i kursperioden og må være godkjent før hjemmeeksamen. Tenkepapers kan leveres på teambasis med inntil 2 studenter pr. paper. Dessuten kreves fremmøte på minimum 75%. Merk: Det kan forekomme obligatoriske aktiviteter i kurset før den formelle påmeldingsfristen. Vurderingsform Det er avsluttende skriftlig individuell hjemmeeksamen over en uke som teller 100% av totalkarakter. Karakterskala A - F. Dataverktøy Oppsummering Studiepoeng: 7.5 Undervises på Norsk Semester: Vår Engelsk tittel: Ethical Action: Individual, Organization, and Society. Studieprogram: MASTER MASTER15 MRR 44

64 STR447 - Human Resource Management Kursansvarlig Karen M. Olsen, Department of Strategy and Management Læringsutbytte: Ved fullføring av kurset er studentene forventet å: - få kunnskap om kjerneaktiviteter i Human Resource Management (HRM) som rekruttering, belønning og kompetanseutvikling. - kjenne til hovedutfordringer i HRM generelt og ved bruk av atypisk tilknytningsformer bemanningsløsninger (f eks. innleie av arbeidskraft) spesielt - utvikle forståelse for teoretiske rammeverk og tilnærminger som brukes for å få innsikt i disse utfordringene - bruke disse teoretiske rammeverkene til å analysere cases og/eller data HRM-aktiviteter i virksomheter - utvikle forståelse for hvordan praksiser i HRM henger sammen med institusjonelle forhold, som lovreguleringer og bedriftsnormer Tematisk kan kurset deles i tre: Første delen av kurset handler om strategisk Human Resource Management (HRM). Denne delen belyser hvordan HRM-aktiviteter henger sammen med virksonheters overordnet strategi og hvordan virksomheter kan skape konkurransefortrinn gjennom HRM. Vi fokusere på hvilke HRM-aktiviteter og bemanningsløsninger virksomheter bruker, og under hvilke forutsetninger. Den andre delen av kurset handler om kjerneaktiviteter i HRM; bemanning, talentledelse, rekruttering, prestasjonsmåling, utvikling og belønning. Vi vil analysere formål og utfordringer ved disse kjerneaktivitene. Temaene illustreres blant annet med endringer i arbeidsmarkedet som økningen i andel personer som utfører arbeid innenfor kunnskapsintensive virksomheter. Den tredje delen av kurset tar for seg kjennetegn ved HRM i en norsk kontekst. Basert på litteratur om komparativ HRM vil vi analysere hvordan institusjonelle forskjeller mellom land påvirker organisering av arbeid. Vi vil blant annet diskutere den norske samarbeidsmodellen med fokus på arbeidsmiljøloven, fagforeninger og normer for samhandling i norsk arbeidsliv. For å gi en oppdatert forståelse av disse temaene, vil kurset i hovedsak basere seg på to forskningsretninger; - Human Resource Management (HRM); hvor vi vil vektlegge kjernetemaer som fleksibilitet, bemanning og rekruttering, belønning, kompetanse- og talentutvikling. Disse temaene vil illustreres ved for eksempel endringer i 45

65 arbeidsmarkedet som økningen i andel ansatte med høyere utdanning og personer som utfører arbeid innenfor såkalt kunnskapsintensive virksomheter. Vi vil også fokusere på hva som kjennetegner HRM i en norsk kontekst og hvordan institusjonelle forskjeller mellom land påvirker hvordan virksomheter organiserer arbeid. - Forskning om atypiske tilknytningsformer. Med atypiske tilknytningsformer inkluderer vi blant annet midlertidig ansettelse, innleie av arbeidskraft og tjenester fra konsulentvirksomheter. Bruk av slike atypiske tilknytningsformer innebærer ofte større kompleksitet og usikkerhet. Vi vil analysere slike utfordringer sett fra perspektivet til virksomheten og fra den enkelte ansatte. - Forskning om komparativ HRM som illustrerer kjennetegn ved HRM i en norsk kontekst og hvordan institusjonelle forskjeller mellom land påvirker organisering av arbeid. Kunnskap - Kandidaten... - har avansert kunnskap innenfor Human Resource Management og spesialisert innsikt i et avgrenset område - kan anvende kunnskap på nye områder innenfor Human Resource Management - kan analysere faglige problemstillinger med utgangspunkt i fagområdets historie, tradisjoner, egenart og plass i samfunnet Ferdigheter - Kandidaten... - kan analysere og forholde seg kritisk til ulike informasjonskilder og anvende disse til å strukturere og formulere faglige resonnementer - kan analysere eksisterende teorier, metoder og fortolkninger innenfor fagområdet og arbeide selvstendig med praktisk og teoretisk problemløsning - kan bruke relevante metoder for forskning og faglig utviklingsarbeid på en selvstendig måte Kompetanse -Kandidaten... - kan anvende sine kunnskaper og ferdigheter på nye områder for å gjennomføre avanserte arbeidsoppgaver og prosjekter - kan formidle omfattende selvstendig arbeid og behersker fagområdets uttrykksformer - kan kommunisere om faglige problemstillinger, analyser og konklusjoner Innhold 46 Strategisk Human Resource Management (HRM)

66 Beste praksis HRM Bemanning og fleksibilitet Talentledelse og rekruttering Prestasjonsmåling og kompetanseutvikling Belønning Fagforeninger og medvirkning Komparativ HRM Atypiske tilknytningsformer Talentutvikling, rekruttering og kompetanse Belønning og prestasjonssystemer Fagforeninger og deltakelse Institusjonelle forhold Forkunnskaper Ingen utover å ha fullført bachelor-program Litteratur Mikkelsen, Aslaug og Laudal, Thomas (2014), Strategisk HRM. Cappelen Damm Akademisk. Artikler annonsert ved kursstart. Undervisningsopplegg Kurset vil bestå av en kombinasjon av forelesninger, gruppeprosjekter og diskusjoner av case og problemstillinger i klassen. Krav til kursgodkjenning Det forventes at studentene er aktive i diskusjoner, både i klassen og i arbeid med gruppeprosjekter i forelesningene. I tillegg til deltakelse i klassen skal studentene skal jobbe aktivt med å analysere og presentere prosjekter. Studentene skal gjennomføre 2 gruppeprosjekter i grupper (korte). Gruppene består av tre eller fire studenter. Studentene må oppnå bestått på begge disse prosjektene for å få kursgodkjenning. Disse kan gjøres i grupper på tre eller fire studenter. Studentene skal presentere en gang i løpet av kurset: enten ett av prosjektene eller være opponent på en annen gruppes prosjekt. ett av disse gruppearbeidene i klassen. Studentene må oppnå bestått på begge disse gruppearbeidene for å få kursgodkjenning. Vurderingsform Individuell hjemmeeksamen (100 % av karakter) Karakterskala A-F. Oppsummering Studiepoeng: 7.5 Undervises på Norsk Semester: 47

67 Vår Engelsk tittel: Human Resource Management Studieprogram: MASTER MASTER15 48

68 STR448 - Economic organization and theory of the firm Course responsible Kirsten Foss. Department of Strategy and Management Learning outcomes: The course provides an introduction to the modern microeconomics of firm organization. It covers central concepts such as asymmetric information, efficiency, incentive conflicts, property rights, asset specificity etc., and shows how these central concepts provide insights into the understanding of firms as economic organizations. Knowledge - the candidate will acquire knowledge of a set of basic concepts, theories and tools that can usefully be applied to new areas within the academic field of organizational economics. The candidate will be able to understand how different incentives structures work both within firms as well as across markets. Moreover, the candidate will be able to assess cost and benefits of outsourcing activities versus maintaining activities with the firm. the questions addressed in the different theories as well as the limits of their applicability to empirical settings. Skills - The candidate can apply theories of economic organization to empirical settings and evaluating outcomes of different types of incentive schemes and contractual designs. understand the use of efficiency as a criterion for evaluating various organizational outcomes. This implies that the candidate is able to use the comparative static method as an analytical tool in theory and in practice. Competence - The candidate can transform empirical problems into research questions that can be analyzed using the theories and method taught in the course. This implies that candidate can identify different solutions to problems and apply the comparative static method and the efficiency criterion in order to evaluate these outcomes. The candidate can apply the method to analyze relevant academic and professional problems. The candidate also can apply his/her knowledge and skills in new areas in order to carry out advanced assignments and projects. Topics Comparative analysis and efficiency Complete and incomplete contracts Principal agency problems in organizational design Property rights and self-enforcing contracts Transaction cost economics and the theory of the firm. Prerequisites 49

69 Microeconomics. Courses that improve the foundation for the advanced course: The course makes use of the comparative static method of analyzing economic problems. Moreover, the course develops the skills in students to transform empirical problems into research questions that can be analyzed using the method and theories taught in the course. Thus, students will benefit from the methodological skills acquired in the following courses: ECO 400 and STR 402. Literature George Hendrikse2003 Economics and Management of Organizations, McGraw-Hill supplemented by classic articles in the field. Teaching Lectures and exercises. Exam Students must submit two term papers based on problems/exercises defined by faculty. Grading scale: A - F. Summary Study points: 7.5 The exam in this course is divided into several parts: STR448HEKS 3.8 STR448OPPG 3.7 Teaching language English Semester: Spring Program of Study: ECN ENE FIE IB MASTERUTV MASTER MASTER15 50

70 MBM STR 51

71 STR451 - Managerial Decision Making Course responsible Prof. Marcus Selart, Department of Strategy and Management, NHH Learning outcomes: Based on insights into current theories and relevant cases, the students will develop skills in understanding, monitoring, and managing situations requiring careful judgment at all levels of the corporate ladder. In any organization, this constitutes a critical human resource for the firm. Students will be trained in creating an awareness of the decision-making process and will be offered strategies for improving decision processes so that these become part of their permanent behavior. By making use of the theories, students will be able to make sustainable improvements to future decisions. Students will also learn about different research strategies and how to design and conduct research into the area. Moreover, they will be able to discuss conceptual and methodological problems related to research in managerial decision making. Knowledge-the candidate Has advanced knowledge within the academic field and specialized insight in managerial decision making Has thorough knowledge of the scholarly theories and methods in managerial decision making Can apply knowledge to new areas within managerial decision making Can analyze academic problems on the basis of the history, traditions, distinctive character and place in society of managerial decision making Skills-the candidate Can analyze and deal critically with various sources of information and use them to structure and formulate scholarly arguments Can analyze existing theories, methods, and interpretations in the field and work independently on practical and theoretical problems Can use relevant methods for research and scholarly analyses in an independent manner Competence-the candidate Can analyze relevant academic, professional, and research ethical problems Can apply his/her knowledge and skills in new areas in order to carry out advanced assignments and projects Can communicate extensive independent work and master the language and terminology of the academic field Can communicate about academic issues, analyses, and conclusions in the field, both with specialists and the general public Can contribute to new thinking and innovation processes 52

72 After completion of the course the student will: Understand the concept of managerial decision making Understand the broader set of factors that influence managerial decision making Be able to develop strategies for managerial decision making Be able to test relevant research hypotheses regarding managerial decision making Be able to improve the quality of managerial judgment Be able to create an awareness of the decision-making process Understand strategies that can be used to improve decision processes Be able to deal with assumptions of rationality and bounded rationality Be able to distinguish between normative and descriptive theories Understand how managers perceive and process information Understand how managers make decisions under uncertainty Topics The primary objective of this course is to survey the major theoretical perspectives and issues in managerial decision making. These perspectives are applied to the study of executives, the decision making process, and its context. The perspectives derive from disciplines such as psychology, sociology, and economics. In addition, the course offers the opportunity to develop a research proposal and advance a new theoretical perspective. Approaches rooted in qualitative and quantitative methods are welcome and interdisciplinary research is encouraged. The course provides the students with an overview of current decision models, illustrated through theoretical analyses and empirical studies. It also focuses on important methodological problems in studying managerial decision making. Methodologies that are used in research on managerial decision making are discussed, as well as how to design and conduct research into this area. Themes: Heuristics and biases Judgment under uncertainty Bounded rationality Decision making in management teams Strategic decision making and conflict Groupthink Structured and unstructured decision processes Strategic choices Organizational decision making as a political process Prerequisites From Fall 2015 the following prerequisites will apply: The course requires some basic notions of research methodology for the social sciences in order to facilitate effective reading/comprehension of the course material and for preparing the course paper. In NHH terms, this includes STR402/STR405, but another introductory master level course in social science research methodology will normally cover these requirements. Literature Selected articles 53

73 Teaching Class preparation and contribution (50%): Each participant is required to come prepared to class. Absence and lack of preparedness are unacceptable. Attendance in all classes is therefore mandatory for this course. Exemptions for not attending a specific class can be obtained from the professor on a case by case basis. Preparation will always involve reading all the assignments. In addition, each article will be assigned to a class members who will prepare a short review PowerPoint presentation to be ed to all class members by the day of the class meeting. Individual research proposal (50%): Participants will also need to write a research proposal that relates to topic(s) covered in class and also to their own research interests. The proposal should identify a research question, review and critique the literature on the topic, develop a few testable hypotheses, and offer a possible design for testing the proposed hypotheses. Proposals spanning to other disciplines such as accounting, finance, marketing, strategy can be acceptable, with prior approval on the subject. Requirements for course approval Having passed the requirements for class preparation and contribution Exam Class preparation and contribution (50%) and individual research proposal (50%) Grading scale A - F. Computer tools None Summary Study points: 7.5 The exam in this course is divided into several parts: STR451DEL 3.8 STR451PRO 3.7 Teaching language English Semester: Spring Program of Study: ECN ENE FIE IB 54

74 MASTERUTV MASTER MASTER15 MBM STR 55

75 From: Marianne Eskeland Sent: 7. oktober :12 To: Torill Hatlebrekke Husebø Cc: Jan Tore Klovland Subject: FW: nytt kurs i ecn profilen Attachments: course_description.pdf; course_description.odt Hei Torill, Videresender meldingen nedenfor fra Kurt R. Brekke til deg. Vennlig hilsen Marianne From: Kurt Richard Brekke Sent: 6. oktober :26 To: Marianne Eskeland Cc: Ragnhild Balsvik; Morten Sæthre Subject: nytt kurs i ecn profilen Hei Marianne, Vedlagt følger kursbeskrivelse for det nye kurset i ECN profilen, kalt Applied Data Analysis of Firm Strategy and Competition. Kurset har vært «varslet» av Ragnhild Balsvik i innmeldingen av undervisningsplanen (tror det da het empirical IO eller noe slikt). Som profil-koordinator er jeg positiv til dette (ikke minst siden jeg selv skal undervise en del av det ). Fint om dette kan tas med på neste PMU møte. Mvh Kurt

76 ECN431 Applied Data Analysis of Firm Strategy and Competition Course code and title: ECN431 Firm strategy and competition: applied data analysis Program (Master) Department: SAM Course responsible Kurt Brekke and Morten Sæthre Learning outcomes This course will prepare you for analyzing data from real-world markets. You will learn to use a combination of economic models and econometric tools to generate highly useful inputs for strategic business decisions, competitive strategies, competition policy, and market regulation. After attending this course as a student, you will know central economic models of market behavior and imperfect competition know how to estimate supply and demand in markets with imperfect competition understand the relationship between models, data, and econometric analysis be able to independently apply econometric techniques to analyze market data, for instance as part of a master thesis, or in your future professional career understand the strengths and weaknesses of the models and econometric techniques taught be able to use STATA to perform and keep track of the necessary analysis, produce professional tables and figures, and replicate your results at a later time Topics As an analyst, manager or economist, there are many important problems you can only address by analyzing market data. For instance, if we increase the price of one product by 5%, what is the likely effect on demand for this and other products in our portfolio, as well as competitors products?, how will a proposed tax or subsidy affect a given company, consumer welfare and firms' investment?, what is the likely impact of a merger between two companies?, or should we apply government intervention against a highly concentrated industry?. Even if you know a model that is suitable in a given context, the relevant effects often depend on unknown moments, such as price sensitivity, level of fixed costs, and substitutability, which you typically have to obtain estimates on. This course will introduce you to methods suited for this purpose, as well as provide you with sufficient knowledge to interpret the results and teach you the necessary skills to convey the information in professional settings.

77 Course schedule 1. Review of competitive versus imperfectly competitive markets, game theory, basic regression techniques, and STATA preliminaries 2. Estimation of demand and supply in competitive markets and instrumental variable methods Case: Adjusting prices faster for cost increases than cost decreases? The example of gasoline prices 3. Product differentiation and discrete choice Case: Maximum or minimum differentiation? Empirical analysis of firms location choices. 4. Merger analysis and merger simulation Case: Merging to reduce price competition? Predicting the effects of a merger 5. Randomization, experiments and difference-in-difference estimation Outside views: In-firm experiments A practical perspective (Telenor) Case: How effective is search engine marketing? A large-scale experiment on Google's paid search advertisement 6. Market structure, barriers to entry and deterrence Case: Can we keep competition out? Evidence from patent expirations Prerequisites It is recommended that you have prior knowledge about econometrics equivalent to ECN402. Familiarity with basic calculus will be assumed. In some cases, familiarity with the concepts introduced in BUS441 or ECO427 will be helpful; however, such knowledge is not assumed, and the important points will be covered in class. Literature Davis, P. and E. Garces, Quantitative Techniques for Competition and Antitrust Analysis, Princeton University Press, Selected articles. Teaching 14 lectures and 4 sessions in PC-lab where you will learn to perform empirical analysis using the methods taught. There will be two assignments, which will have to be passed for course approval. The assignments are designed to make you familiar with the economic models, and have you apply them using real-world data. Exam Empirical assignments (50%) and term paper (50%). Grading scale A F. Computer tools Econometric software package STATA.

78 ECN431 Applied Data Analysis of Firm Strategy and Competition Course code and title: ECN431 Firm strategy and competition: applied data analysis Program (Master) Department: SAM Course responsible Kurt Brekke and Morten Sæthre Learning outcomes This course will prepare you for analyzing data from real-world markets. You will learn to use a combination of economic models and econometric tools to generate highly useful inputs for strategic business decisions, competitive strategies, competition policy, and market regulation. After attending this course as a student, you will know central economic models of market behavior and imperfect competition know how to estimate supply and demand in markets with imperfect competition understand the relationship between models, data, and econometric analysis be able to independently apply econometric techniques to analyze market data, for instance as part of a master thesis, or in your future professional career understand the strengths and weaknesses of the models and econometric techniques taught be able to use STATA to perform and keep track of the necessary analysis, produce professional tables and figures, and replicate your results at a later time Topics As an analyst, manager or economist, there are many important problems you can only address by analyzing market data. For instance, if we increase the price of one product by 5%, what is the likely effect on demand for this and other products in our portfolio, as well as competitors products?, how will a proposed tax or subsidy affect a given company, consumer welfare and firms' investment?, what is the likely impact of a merger between two companies?, or should we apply government intervention against a highly concentrated industry?. Even if you know a model that is suitable in a given context, the relevant effects often depend on unknown moments, such as price sensitivity, level of fixed costs, and substitutability, which you typically have to obtain estimates on. This course will introduce you to methods suited for this purpose, as well as provide you with sufficient knowledge to interpret the results and teach you the necessary skills to convey the information in professional settings.

79 Course schedule 1. Review of competitive versus imperfectly competitive markets, game theory, basic regression techniques, and STATA preliminaries 2. Estimation of demand and supply in competitive markets and instrumental variable methods Case: Adjusting prices faster for cost increases than cost decreases? The example of gasoline prices 3. Product differentiation and discrete choice Case: Maximum or minimum differentiation? Empirical analysis of firms location choices. 4. Merger analysis and merger simulation Case: Merging to reduce price competition? Predicting the effects of a merger 5. Randomization, experiments and difference-in-difference estimation Outside views: In-firm experiments A practical perspective (Telenor) Case: How effective is search engine marketing? A large-scale experiment on Google's paid search advertisement 6. Market structure, barriers to entry and deterrence Case: Can we keep competition out? Evidence from patent expirations Prerequisites It is recommended that you have prior knowledge about econometrics equivalent to ECN402. Familiarity with basic calculus will be assumed. In some cases, familiarity with the concepts introduced in BUS441 or ECO427 will be helpful; however, such knowledge is not assumed, and the important points will be covered in class. Literature Davis, P. and E. Garces, Quantitative Techniques for Competition and Antitrust Analysis, Princeton University Press, Selected articles. Teaching 14 lectures and 4 sessions in PC-lab where you will learn to perform empirical analysis using the methods taught. There will be two assignments, which will have to be passed for course approval. The assignments are designed to make you familiar with the economic models, and have you apply them using real-world data. Exam Empirical assignments (50%) and term paper (50%). Grading scale A F. Computer tools Econometric software package STATA.

80 From: Carsten Gero Bienz Sent: 28. september :53 To: Vigdis Sæterdal Subject: Fwd: New Course on Financial Engineering Begin forwarded message: From: Øystein Thøgersen Subject: RE: New Course on Financial Engineering Date: 24 Sep :20:26 CEST To: Carsten Gero Bienz Hi Carsten, I have considered the course plan for the new course in Financial Engineering. This is no doubt a solid course which adds quality to our course portfolio in the FIE profile. (It seems in particular to add to the FIE profile s number of somewhat more advanced courses, and in that respect it is a particularly valuable addition to the profile s overall portfolio.) I approve the course plan and recommend PMU to include the course in the FIE profile. Best, Øystein Øystein Thøgersen Professor, dr. oecon Dept. of Economics, NHH Norwegian School of Economics Phone: (+47) Cell: (+47) oystein.thogersen@nhh.no From: Carsten Gero Bienz Sent: 24. september :12 To: Øystein Thøgersen Subject: New Course on Financial Engineering

81 HI Øystein we would like our new faculty member Nils Friewald to teach a course on Financial Engineering. In order to submit this course to PMU I would need your approval for the course. I attach the course description below. Best, Carsten

82 From: Vigdis Sæterdal Sent: 29. september :46 To: Vigdis Sæterdal Subject: FIE443_Begrunnelse for adgangsbegrensning From: Karin S. Thorburn Sent: 29. september :17 To: Vigdis Sæterdal Cc: Torill Hatlebrekke Husebø Subject: RE: Revidert kursbeskrivelse i FIE443 Hej Vigdis, Jag noterade just att det ar en andring i karaktarsattningen till nasta ar: I 2015 var det 40% class participation / 60% term project ar det 40% class participation / 50% term project / 10% peer evaluation. Se bifogad kursbeskrivelse. Begrundelsen for adgangsbegransning ar denna: FIE443 is a case based course, where students present and discuss their analysis of the case in the classroom. Class participation makes up 40% of the total grade. To provide generous opportunity for each student to contribute to the class discussion, class size needs to be limited at 40 students. Tack och hej! Karin

83 From: Vigdis Sæterdal Sent: 29. september :20 To: Vigdis Sæterdal Subject: FIE437A Course description and Comments to the description_einar Bakke Attachments: 2016 Course Description FIE437A.docx From: Einar Bakke Sent: 23. september :08 To: Vigdis Sæterdal Subject: Re: New and revised course descriptions for spring 2016_Deadline Wednesday 23 September Her er revidert kursbeskrivelse. Rødt er "det nye" og gjennomstreket er det "gamle". Når det gjelder karaktersettingen så har jeg følgende kommentar/forklaring: [Presenter dette gjerne for PMU] Først bør det nevnes at studentene som tar dette kurset på NHH er meget sterke faglig og de er ekstremt motivert. Problemstillingen er derfor ex ante i hovedsak å "skille A og B kandidater". Dette gjøres enklest ved å ha individuelle multiple choice tester. Gruppearbeidene er ofte så gjennomarbeidet at det som skiller gruppene er marginalt. Jeg bruker Pass/Merit/Distinction i stedet for A/B/C eller 1-9 fordi "kjente" karakterer generelt gir en "forventning". Det medfører mye "masing om A vs B" og "hva må jeg gjøre bedre" samtaler/mailer som ikke øker læringen i kurset. Samtidig gir tre "karakterer" de gruppebaserte vurderingsformene insentiver til innsats, men unngår "inflasjon" i endelig karakter til svakere studenter på en god gruppe. I praksis vil multiple choice testene være det som driver den endelige karakteren for motiverte kandidater. Disse kommer "mellom" forelesninger og case innleveringer, og er derfor et sterkt insentiv til å jobbe med stoffet (før man anvender det på caset). De som ikke gjøre en god jobb her vil også ha vanskeligere for å løse case på en god måte (altså oppnå Merit). Om det skulle være store innvendinger mot dette kan jeg benytte A/B/C, men det medfører et karakterfokus som ikke er ønskelig. Mvh Einar

84 FIE437A - Valuation Back Course responsible Einar Bakke, Department of Finance. Learning outcomes: The course covers advanced valuation techniques used for thorough modeling of a firm's value. The aim is to provide students with advanced knowledge and in-depth understanding of the concepts behind fundamental value, and the underlying assumptions in order to sensibly apply their existing theoretical understanding of valuation. The course will be relevant for students seeking a career in equity research, investment banking, highlevel consultancy management consulting, and larger corporations in Norway and internationally. Upon completion of the course, the candidate shall: - have obtained an advanced and integrated understanding of fundamental drivers of value, and valuation techniques. - have implemented and understood the use of this knowledge in practical settings. - be able to apply the main valuation techniques to real companies, to form an informed opinion as to the fair value of a company. - have increased competence in presenting and discussing complex corporate valuation issues in a challenging context. - be able to take complex financial information and distil from this the information important for valuation. - have confidence in conducting clear, written analyzes and presentation of fair value of a corporation or project towards investors, top management and board of directors. - have completed demanding case work and presentations as constructive members of a student group. - understand the need for a substantial effort and high precision needed to excel in a demanding roles of equity research analysts, management consultants or investment bankers. Topics The main course topics are: Fundamentals of Value Creation Relative Valuation the Link to Fundamental Value Corporate Portfolio Strategy M&A transactions implication on Acquirer s value Reorganizing Financial Statements Analyzing Historical Performance Forecasting Future Performance Estimating Continuing Value Sensitivity and Scenario Analysis Foreign Currency Cost of Capital

85 o Cost of Equity o Cost of Debt Debt & Taxes Minorities & Debt Equivalents Getting to Price Per Share In addition, the students will be given feedback on their Presentation, Writing and Typography skills in relation to their reports and presentations of their case company. The final report and presentation will partly be graded on how convincing, understandable and well argued the report and presentation are. Communication efficiency is therefore essential. Prerequisites Students taking this course are required to possess a good understanding of corporate finance, as documented through either a prior completion of the course FIE402(E) or equivalent courses at other institutions. This is an advanced course in Corporate Valuation and students are expected to have a basic grasp of valuation prior to taking the course. Students not meeting these requirement will need the instructor's approval. The course is equal to FIE437B and students will not get credit for both courses. Literature Koller/Goedhart/Wessels ("The McKinsey Book"), Valuation, 6th Edition, McKinsey & Co (2015). The whole book, but in particular Parts I-II & V (and any other chapter applicable to your case). Additional Texts: (some of the lecture material draws on these texts - not required reading) Greenwald & Kahn, Competition Demystified: A Radically Simplified Approach to Business Strategy, (2007) [Strategic Analysis] Damodoran, Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, 3rd Edition (2012). [In particular Relative Valuation]. Penman, Financial Statement Analysis and Security Valuation, 5th Edition (2012). [An accounting oriented approach to valuation]. Teaching Students will work in groups of three. The only exception would be if the number of students is not divisible by 3, which would result in one or two groups consisting of two students. This course is an advanced and applied corporate valuation course. In order to achieve maximum learning potential, the course is entirely case based, which means extensive casework on the part of the students. One or more industries will be selected, depending on the number of students/groups. The number of industries will be restricted to a minimum of 3 or more groups working in the same industry in order to enable comparable analysis within industry, and induce interest for in class discussions of their casework. An industry covered the previous year is not accessible the following year (exception may apply). Each student group will work on one listed company throughout the course, and will share their model(s) with other groups also covering that industry towards the end of the course in order to create an opportunity to conduct comparable analysis between case firms within industries. A firm covered the previous year by a student group is not accessible the following year. All teaching will be conducted intensively, and followed up by an online multiple choice test of the material covered in the lectures, available for a limited time following each of the lectures. These tests will carry points towards the final grade, but are not individually mandatory. They are strictly there to incentivize students to review the lecture material before working on their case. The student groups will have to hand in multiple reports and spreadsheet models (with 'user manuals'), as well as conduct discussions (within industry group) of modeling issues. Students will twice present their casework. Finally, each group will issue an "Analyst Report" and "Pitch" (present) their "Investment Case"

86 (BUY/HOLD/SELL) to "investors" (the class). To increase the effectiveness of class discussions, the number of students is limited to 45 and priority is given to FIE students if the limit is reached. Read more about the course here: Requirements for course approval The success of a case based course depends on student participation, and therefore class attendance is crucial. Absence from class affects the "class participation and presentation"-grade negatively and students may also fail the course for this reason. Group work, in groups of 3 people (the only exception being that one or two group have to consist of 3 students due to the student numbers not being a multiple of 3). All Percentage given in [brackets] below represents percent of the total grade. Each group will hand in the following work (Graded on a Group Basis): [40 percent of the total grade] 1. ("Buy-side") Firm/Industry Report - Relative Valuation [10 percent] 2. Spreadsheet Model with User Manual: Reorganizing the Financial Statements & Historic Analysis [10 percent] The following revisions will be required: a. Reorganizing the Financial Statements [5 percent] b. Analyzing Historical & Forecasting Performance [5 percent] 3. Fundamental Valuation (of the Operating Assets) [10 percent] Including the "Final" Model/Manual (distributed to the "Industry Group"). 4. (Polished) Sell-Side Analyst Report (incl. Non-Ops) [10 percent] Individually graded: - 4 (online) Multiple Choice Test [each 10 percent] (minimum 10 percent in total to pass) - 2 Presentations (with the group) of the Reports [10 percent each] - 2 Workshop (presentation of preliminary results) [Pass/Merit/Distinction] - Actively engage in class discussions [Pass/Fail] All elements are graded using Pass/Merit/Distinction to indicate performance during the course. Pass indicates meeting the minimum requirements. Merit reflect a solid performance, and should be the expected grade. Distinction is only awarded for outstanding work (and restricted to a maximum of a third of the class per assessment). An overall Merit will suffice for an A or B final grade if the multiple choice test reflects these grades. The Multiple choice tests are graded based on the following thresholds (percent for E to A): 30/40/50/75/90

87 All Elements will be graded on a 1-9 Scale with the following conversions to ECTS Grades: 2 = E, 3 = D, 4 = C, 5-6 = B, 7-9 = A. The Multiple Choice Tests will convert as follows to grades 2 (pass) through 9 at the following thresholds (percent): 30/40/50/65/75/85/95/100. Mandatory Attendance: Attendance in all classes is mandatory for this course. Exemptions for not attending a specific class can be obtained from the lecturer on a case by case basis. Exam The course grade will comprise of 4 Elements: Group Based Reports (40%), Multiple Choice Tests (40%), Presentations (20%), Class Participation/Attendance (Pass/Fail). All Elements Must be passed. There is no final exam. Grading scale A - F. Computer tools Excel, Word, Powerpoint (or equivalent) and relevant data-sources will suffice.

88 From: Vigdis Sæterdal Sent: 9. oktober :14 To: Vigdis Sæterdal Subject: FIE402_Revidert kursbeskrivelse samt Søknad om reduksjon av eksamenstid_høst 2015 Attachments: FIE402 description Fall.doc; FIE402_Application to reduce from 4 to 3 hours the Exam in FIE402.docx From: Michael Kisser Sent: 6. oktober :28 To: Vigdis Sæterdal Subject: FW: For your information_forespørsel om skoleksamen - Reduksjon av eksamenslengde vigdis, just to double check. we did not make any changes to FIE402E but, given that FIE402 switched to a 3h exam, here is the current description. thanks Michael Kisser, PhD Associate Professor of Finance Norwegian School of Economics (NHH) Homepage: Twitter: mkisser81 SSRN:

89 FIE402N/E - Corporate Finance Instructors Professors Thore Johnsen (fall), Tyler Hull (fall), Konrad Raff (spring), and Michael Kisser (spring), Department of Finance and Management Science. Objectives The focus of this course is how to make optimal corporate financial decisions. Having finished the course, students will have a better understanding of the principles and tools for evaluating the firm s investment and financing decisions. They will be able to analyze complex investment decisions by using techniques such as discounted cash flow (DCF) valuation and real options. They will better understand the various trade-offs involved in making financing decisions such as the firm s choice of capital structure (i.e. debt and equity mix) and dividend policy, and they will comprehend how financial decisions may affect the firm s cost of capital and value. In addition, students will gain an understanding of and institutional knowledge in areas related to equity and debt issues. Topics The course is built around the following three main topics: (i) Valuation and value creation: project analysis, pricing of shares, cost of capital (ii) Options in corporate finance: real options, equity as an option, convertible debt (iii) Financial strategy: capital structure, dividend policy, issuing of securities Prerequisites None. Students may take this course either before or after FIE400 and FIE403. Literature Berk and DeMarzo, Corporate Finance, Pearson Global Edition, 3rd edition. A course package containing additional readings and case assignments is sold by the Compendium Office. Note that the content in this course package may change from term to term. All written materials are in English. Teaching Lectures in Norwegian/Swedish (402N) or in English (402E). All power points are in English. Students should be prepared to discuss case assignments in class. Requirements for passing the course Students have to successfully complete 50% of the assigned homework problems in MyFinanceLab on time. These problems involve basic calculations and concepts related to the materials covered in class. Each home work set carries equal weight. That is, if you miss one practice problem set, you need 100% of the answers correct on the next practice problem set. In addition, there will be five case or exercise assignments during the term, to be solved either individually or preferably in groups of three to four students. At least one of these assignments must be handed in and approved. Each approved hand-in will give 4 points towards the final grade on the exam, for a maximum of 20 points. The write-ups are graded as either approved (4 points) or not approved (0 points). Approval requires that the hand-in demonstrates an ability to analyze the material with a reasonable degree of judgment and independent thinking. Note that (i) the assignments will not be returned to students; and (ii) they will only count towards the exam in the term that they are handed in.

90 Exam There is a three-hour long written final exam. The final exam will have a maximum score of 100 points. The exam will be written in English. Students may respond in Norwegian or English for the course offered in Norwegian whereas for the course offered in English students have to respond in English. Students are allowed to bring a calculator with empty memory. In the term case credits are earned, the total grade is based 80 percent on the final exam and 20 percent on the case write-ups. In any subsequent term, the final grade will be based 100% on the final exam. The overall performance will be graded on a standard scale from A to F. Computer tools Knowledge of Excel. Access to the internet and MyFinanceLab. For students who wishes to not buy the course book (Berk and DeMarzo), a license to MyFinanceLab can be purchased directly from the internet.

91 Application to reduce from 4 to 3 hours the Exam in FIE402 Corporate Finance A course approval requires the students to successfully complete at least 50% of a large number of assigned homework problems in a web based system MyFinanceLab related to the text book. In addition, at least one of five case or exercise assignments must be handed in and approved, typically done in a group. Each approved hand-in will give 4 points towards the final grade on the exam, for a maximum of 20 points. Typically, all students get the maximum points. The final grade for the course is therefore based 80 percent on the final exam and 20 percent on the case/exercise write-ups. This elaborate testing system does reduce the need for a full 4 hour written exam, and we therefore apply for a reduction to three hours. We enclose the Course Description and the Syllabus for respectively the Norwegian and English language section of the course. Bergen, Thore Johnsen Tyler Hull

92 STR421 COMPETITIVE STRATEGY CHANGES IN THE COURSE DESCRIPTION As highlighted in the course evaluation for the spring 2015, previous experience has shown that the main problem of the course is that students tend not to attend the lectures. This is particularly problematic, since the course is case-based and participation in the discussion should be an important part of the learning experience. The main reason that the students indicate for the scarce attendance was that the case-studies were not perceived as relevant for the final evaluation, which was based on a course paper. In order to make cases more relevant we will reorganize the course, so that the cases are better integrated with the theory. However, we also wish to align the lectures with the evaluation, by introducing a three hours written exam. This would incentivize students to participate and learn all topics, not only the ones that they will use in the course report Thus, we would like to change the exam form from a group-based course paper (counting for 100% of the grade) to the following form: A three hours school exam counting for 50% of the grade A course paper counting for 50% of the grade. The requirements for the course paper (number of pages, complexity of the topics to be covered) will be lowered accordingly. Chiara Canta Sissel Jensen

93 Motivation for a new evaluation procedure in ECN401 The course was offered for the first time during the spring of Students were required to hand in and pass two assignments in order get credit for the course. The evaluation was entirely based on a 4-hour final exam. For next spring, we propose to have two assignments (related to the two parts of the course) which each count for 1.1 ECTS, i.e., both for 2.2 ECTS or about 30% of the final mark. The remaining 70% comes from the performance in a three-hour final exam. This change has three advantages. First, it gives a stronger incentive to students for working with the course material during the term. Second, two midterm evaluations provide the students with useful information about their own performance. Third, it allows us to test the students on problems that take a bit more time or that require longer calculations. Both these features could easily lead to stress situations at the exam, leading to trivial mistakes that accumulate and result in a poor answer, even for students that know the material well. Mathias Ekström, Eirik Kristiansen, Fred Schroyen

94 NHH, 27.08, 2015 Studieadministrasjonen her, Vedr adgangsbegrensing i og samfunn». kurset «STR 433 Etisk handling individ, organisasjon Herved søkes om adgangsbegrensning med maksimalt antall 35 studenter i kurset «STR 433 Etisk handling individ, organisasjon og samfunn». Vi har flere ganger gjennomført kurset med mer enn 35 studenter, men det viser seg da at det oppstår problemer med balansen mellom teori og framføring av rollespill i klassen. Dette er et prosessorientert kurs med basis i prosjektarbeid i kjernegrupper som leder fram til rollespiliframføring, og våre erfaringer tilsier at flere enn trettifem studenter fører til at den pedagogiske kvaliteten i kurset reduseres i for stor grad. Med dette håper jeg søknaden tas til følge. sen Knut Ims (kursleder)

95 CEMS-kurs 2015/16 Side 1 Til: PMU Fra: Jan I. Haaland, CEMS Academic Director Dato: CEMS-kurs 2015/2016 CEMS-kurs for studieåret 2015/16 ble besluttet i juni 2015, og er annonsert på både på NHH.NO og CEMS.ORG. Ved semesterstart kom det noen justeringer i listen for kurs for høsten 2015; disse er innarbeidet i listen under. Det kan også være aktuelt med noen justeringer for våren Her gis først en oversikt over tilbudet slik det står per nå, og deretter en kort liste med forslag til tillegg for våren Høst 2015 faktisk kurstilbud CEMS Course name Lecturer Profile Department Note Mandatory INB422C International Strategy Tina Saebi SOL Electives BUS403E Supply Chain Management S.-L. Nonås / P. Agrell BUS / INB FOR BUS429 Dynamic Pricing and Revenue Optimization Z. Pang BUS / ECO FOR ECN420 Petroleum economics Linda Nøstbakken ECN / ENE/INB SAM ECN423 Development economics Lars Ivar Berge ECN SAM ECO400 Decisions, strategy and information Trond Olsen ECO SAM/FOR ELE426 Norwegian Language III Norsk samfunns- og næringsliv Klara Sjo Frittstående FSK ENE423 Environmental Economics G. Eskeland ENE FOR Exclusive for CEMSstudents from autumn ENE431 Shipping & offshore markets Roar Os Ådland ENE/INB SAM Corporate Financial FIE428 Management A. Mjøs FIE/INB FIN Restricted admission (50) INB400 International Organization and Management Kirsten Foss INB SOL INB423 International Marketing Aksel Rokkan MBM / INB SOL Håvard Hansen MBM401B Consumer Behavior (havard.hansen@uis.no) MBM SOL MBM402B Brand Equity and Pricing Leif Hem MBM SOL MBM421 Managing Corporate Reputation Siv Skard MBM SOL NOR10 Norwegian Language for Foreign Students level I Klara Sjo/ Karin Tysdal FSK STR404 Strategic Analysis Lasse B. Lien STR / MBM/INB/ENE SOL ECN400 Macroeconomic Theory and Policy Gernot Doppelhoer, Øystein Thøgersen ECN SAM ENE432 Measuring sustainability in accounting and finance Sabina Du Rietz ENE, BUS RRR FIE421 Long-term macroeconomic analysis Øystein Thøgersen, Ingvild Almås FIE, ECN, ECO SAM STR444 Innovation management and entrepreneurship Tor Aase Johannessen STR SOL

96 CEMS-kurs 2015/16 Side 2 Høst 2015 og vår 2016 (dublerte kurs) CEMS Course name Lecturer Profile Department Note Electives BUS446 Sustainable Business models Lars J.T. Pedersen / Sveinung Jørgensen BUS RRR FIE400E Investments NN/F.Santos FIE FIN M. Kisser/K. Raff/Tyler FIE402E Corporate Finance Hull FIE/INB FIN Vår 2016 kurs som allerede er besluttet og annonsert CEMS Course name Lecturer Profile Department Note Mandatory CEMS BP CEMS Business Project CEMS Global Management INB431C Practice Anne Kari Bjørge CEMS FSK Electives BUS400E Management Control S. Juranek BUS FOR ECN401 Fred Schroyen, Eirik G. ECN SAM Applied Microeconomic Theory Kristiansen, Mathias Ekstrøm Financial Aspects of FOR Energy and Commodity M. Chronopoulos ENE ENE422 Markets ENE426 Economics of Climate G. Eskeland ENE FOR Change ETI450 Corporate social Ivar Kolstad STR/ENE/ SAM responsibility ECN/INB FIE433 International Finance Kisser INB/FIE FOR FIE436 Venture Capital, Private Equity and IPOs C. Bienz FIE FIN INB427 Globalisation and SAM Integration Haaland, Orvedal INB MBM420 Brand Strategy Lars Erling Olsen MBM SOL (lars.olsen@mh.no) MBM429 Service Innovation Tor W. Andreassen MBM SOL NOR10 Norwegian Language for FSK Foreign Students level I Klara Sjo NOR11 Norwegian Language for FSK Foreign Students level II Klara Sjo STR421 Competitive strategy Chiara Canta, Sissel STR SAM Jensen Exclusive for CEMSstudents from spring 2016 Restricted admission (70) Tilleggsforslag til CEMS-kurs, utover de som allerede er vedtatt, for våren ENE430 STR452 Commodity trading and transport Roar Os Ådland ENE SAM Lasse B. Lien, Eirik Strategy with finance Sjåholm Knudsen STR SOL Bakgrunn for forlagene: ENE430 har tidligere vært CEMS-kurs, men synes å ha falt ut av listen for våren 2015, av ukjent grunn. Det foreslås tatt inn igjen. STR452 er foreslått av foreleserne som CEMS-kurs. Kurset er en videreføring fra kurset Strategisk analyse, og synes å være velegnet for CEMS-programmet.

97 CEMS-kurs 2015/16 Side 3

98 OVERSIKT OVER BEGRUNNELSER OG KLAGER PÅ MASTER VÅREN 2015 Saksbehandler Inger Dagestad Eikeland Arkivreferanse 15/ Utvalg Møtedato Utvalgsnr Programutvalget for masterutdanningen Forslag til vedtak: PMU tar saken til orientering. Bakgrunn: På oppdrag fra Utdanningsutvalget i Universitets- og høgskolerådet ble det vinteren 2011 gjennomført en kartlegging av klagesensuren ved 40 universiteter og høgskoler. 23 institusjoner praktiserte forvaltningsmodellen, mens 17 institusjoner praktiserte blind sensur. Undersøkelsen som ble gjennomført viste at klagesensur etter forvaltningsloven førte til endring av karakter i 22,5 % av klagesakene. Tilsvarende tall for blindsensur var 34 %. (Prop. 59 L 5.3 Gjennomføring av klagesensur, ) NHH praktiserte tidligere klagebehandling etter «forvaltningsmodellen», der klagekommisjon fikk tilsendt opprinnelig karakter, sensors begrunnelse for denne og studentens begrunnelse for klagen. Dette fordi en mente at en klagesensur skulle være så godt opplyst som mulig. Under blindsensur mottar klagekommisjonen kun eksamensbesvarelse, oppgavetekst og eventuelt sensorveiledning. Norsk Studentorganisasjon (NSO) ba Kunnskapsdepartementet i 2013 om at regelverk for klagesensurering ble endret. NSO mente at det var viktig med likebehandling ved klagesensur, og at det var uheldig at det var ulik praksis ved utdanningsinstitusjonene. De mente også at blind sensur ville sikre en helt nøytral vurdering og ville forhindre at det oppsto et inntrykk blant studentene om at vurderingene i klagesensuren var påvirket av lojalitet til førstegangssensorene. PMU var under høring skeptisk til at undervisningsinstitusjonen ble fratatt anledning til å velge hvilken klagesensur de ville bruke. Kunnskapsdepartementet mente at en felles ordning for klagesensur ville verne om rettsikkerheten til studentene i større grad, særlig med hensyn til likebehandling og forutsigbarhet. Mange av høringsinstansene var positive til en felles ordning for klagesensur i sektoren, og argumenterte med at dette ville føre til likebehandling. 1

99 Med bakgrunn i dette kom det en lovendring i universitets- og høyskoleloven som trådte i kraft Denne fastslår at ved ny sensur (klagesensur), skal ikke sensorene motta opprinnelig karakter, sensors begrunnelse for denne eller studentens begrunnelse for klagen. NHH har dermed praktisert blind klagesensur fra høstsemesteret Fra høsten 2014 skal alle kurs ved NHH ha sensorveiledning, og denne skal være tilgjengelig samtidig som sensuren blir lagt ut. Det er ikke laget noen mal for hvordan denne skal se ut. Departementet mener at sensorveiledningen utfyller læreplanen og er ment som hjelp i sensors vurderingsarbeid. Den skal sikre at de ulike sensorene legger samme retningslinjer til grunn for sine vurderinger. (Prop. 59 L 5.3 Gjennomføring av klagesensur, ) Klagebehandling våren 2015 I tabellen nedenfor er oversikt over antall begrunnelser og klager fra høsten 2012 til og med våren Antall begrunnelser Antall klager Opp Opp % Ned Ned % Endring av karakter V % % 44 % H % % 39 % V % 12 5 % 17 % H % 0 0 % 20 % V % 0 0 % 14 % H % 0 0 % 19 % Studieadministrativ avdeling har mottatt 279 klager på sensur på masterstudiene vårsemesteret av disse klagene er pr i dag ikke ferdigbehandlet og derfor ikke med i statistikken. Det har dermed vært en nedgang i antall klager på masterstudiene fra 324 til 279 fra høstsemesteret 2014 til vårsemesteret Hele 44 % av klager på masterstudiene fikk endret karakter etter klagebehandling vårsemesteret 2015, i høstsemesteret 2014 var det 39% som fikk endret karater. Av de som fikk endret karakter våren 2015 fikk 30 % behandlet klagen sin til gunst. Av 74 studenter som fikk bedre karakter, var det en student som gikk opp to karakterer. De andre gikk opp én karakter (se vedlegg). 14 % av klagene fikk våren 2015 behandlet klagen sin til ugunst, og denne andelen var lik som forrige semester. Av 35 studenter som fikk dårligere karakter var det 5 som gikk ned to karakterer. De andre gikk ned én karakter (se vedlegg). Etter forvaltningsmodellen var det tilnærmet ingen som gikk ned i karakter. Selv om antall klager har gått ned fra høsten 2014 til våren 2015, er det enda for tidlig å si noe om innføring av blind klagesensur har noen effekt på antall studenter som klager. Våren 2015 fikk 44 % av de som klaget endret sin karakter, og andelen av studenter som får bedre karakter gått noe opp fra forrige semester. Dette bekrefter at blindsensur medfører større sjanse for at den opprinnelige karakteren blir endret etter klagebehandlingen. 2

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101 OVERSIKT OVER KLAGER OG BEGRUNNELSER - Master vår 2015 Det mangler resultat for 34 klager. Det totale antall klager er derfor 279. Kun de 245 klagene med resultat er med i statistikken over endring av karakter. Kun vurderinger (eksamener o.l.) der det er framsatt klager eller anmodning om begrunnelse, er inkludert i denne oversikten. antall Antall # begrunnelser # klager per # Opp en Opp to emnekode emnenavn sensurert begrunnelser antall klager til gunst kand.nr. til ugunst kand.nr. uendret per # møtt møtt karakter karakterer BUS400E Management Control % 3 % BUS420HEKS Strategisk økonomistyring - i teori og praksis % 3 % 1 BUS420OPPG Strategisk økonomistyring - i teori og praksis % 0 % BUS422 Investeringsanalyse % 1 % , , , BUS428 Økonomisk organisasjonsteori , % 12 % 4 BUS432 Operasjonell planlegging % 0 % Regnskap og budsjettering i offenlige BUS435 organisasjoner % 4 % BUS440 Regnskapsanalyse og verdivurdering % 10 % BUS444 Økonometri for regnskap og økonomisk styring , , , , , , , , % 22 % 8 1 BUS445 Cases in Management Account % 0 % BUS447 Financial Reporting IFRS % 0 % BUSTHE Selvstendig arbeid 109 ukjent , % 2 ECN401 Applied Microeconomic theory , % 4 % 2 ECN421EKS Behavioural Economics % 0 % ECN421OPPG Behavioural Economics % 0 % ECN424 Konkurransepolitikk % 0 % ECN426EKS Velferdsstatens utfordringer % 11 % ECN426OPPG Velferdsstatens utfordringer - gruppearbeid % 0 % ECO403 Time Series Analysis and Prediction % 2 % 1 ECO423 Principles and Derivatives Pricing and Risk Management % 5 % ECO427 Næringsøkonomi % 4 % ECO433 Empirical Strategies for Causal Analysis % 8 % 1 1 ECO439OPPG Resource Economics % 5 % 1 ECO441 Skatt, beslutningsatferd og økonomisk politikk % 5 % ENE425EKS Alternative Energy Sources in % 0 % ENE426HEKS Economics of Climate Change % 0 % ENE427 Land Use and Natural Resources , , % 27 % 3 ENE429 Topics in applied management % 0 % ENE430 Commodity Trading and Transport , 35, 6, % 7 % 4 ETI450 Corporate Social Responsibility % 0 % FIE400E Investments , 40146, 40188, 40191, % 2 % 1 4 Ned en karakter Ned to karakterer

102 FIE401E Empirical Methods in Finance , % 6 % 2 FIE402EA Corporate Finance , 52, 66, 67, 82, 130, 153, 158, 162, % 11 % 10 1 FIE402EB Corporate Finance % 10 % 1 FIE403 Business Cycle Analysis , % 8 % 1 2 FIE422 Internasjonale finansmarkeder og finansiell stabilitet % 11 % 1 FIE423 Renteinstrumenter % 7 % 1 FIE426 Kapitalforvaltning % 5 % 1 FIE433 International Finance , , , , , , , , , , , , , % 23 % 14 FIE434 Behavioural Finance and Wealth Management % 9 % 1 FIE435 Financial Modelling , 116, 117, 121, , 123, 137, 148, 157, % 16 % 5 6 FIE437A Valuation % 0 % FIE441 Taxes and Business Strateguy % 6 % 1 FIE442EKS Growth and Architecture of Fin % 0 % FIE443 Mergers and Acquisitions % 0 % FIETHE Masterutr FIE 126 ukjent % 1 mangler resultat av 4 klager INB422EKS International Strategy % 0 % INB427 Globalisation and Integration % 4 % INB428 Topic in International Economic History % 4 % INB431 Global Management Practice % 0 % INBTHE Master thesis INB 19 ukjent % MBM420EKS Brand Strategy % 6 % MBM420OPPG Brand Strategy % 0 % MBM422 Social Media Marketing % 7 % MBM427EKS Business-to-business marketing and management , % 25 % 2 MBM427OPPG Business-to-business marketing and management % 0 % MBM428EKS Product Development and Design % 4 % 1 MBM429 Service Innovation , % 15 % 2 MBMTHE Selvstendig arbeid 22 ukjent % MRR413A Regnskapsanalyse og verdivurdering % 2 % MRR441 Revisjon % 0 % mangler resultat av 1 klage MRR442 Regnskap % 0 % mangler resultat av 1 klage MRR443 Verdsettelse % 0 % mangler resultat av 8 klager MRR446 Juss % 0 % mangler resultat av 9 klager MRR451 Revisjon % 0 % mangler resultat av 6 klager MRR452 Finansregnskap % 0 % mangler resultat av 2 klager MRRTHE Selvstendig arbeid 45 ukjent 0 0 % mangler resultat av 2 klager Selvstendig arbeid i hovedprofilen SAMTHE samfunnsøkonomi 15 ukjent % 1 STR405EKS Metode for masterutredningen - eksamen % 4 % 1 1

103 STR405OPPG Metode for masterutredningen - semesteroppgave , 123, % 8 % 3 STR421 Competitive Strategy % 17 % STR422EKS Strategisk endring og læring i o % 0 % STR422OPPG Strategisk endring og læring i o % 0 % STR425 Forhandlinger % 7 % STR432 Strategiske allianser og nettverk , % 8 % 2 STR433 Etisk handling: Individ, organis % 0 % STR435 Personalpolitikk og incentiver % 0 % STR436EKS Ledelse og organisasjonsbeslu % 11 % 1 STR436OPPG Ledelse og organisasjonsbeslu % 0 % STR437 Team og teamledelse , 119, 122, 123, % 24 % 5 STR446HEKS Prosess- og kvalitetsledelse % 12 % STR447 Human Resource Management , % 8 % 2 STR448OPPG Economic organization and the % 0 % STR450 Risikovurdering % 0 % STR451DEL Managerial Decision Making % 0 % mangler resultat av 1 klage STR452 Strategy with finance , % 10 % 2 8, 34, 35, STRTHE Masterutr STR 42 ukjent % 4 TOTAL % 6 % % 30 % 14 % 56 %

104 Antall begrunnelser Antall klager Opp Opp % Ned Ned % Endring av karakter V % % 44 % 0, % H % % 39 % V % 12 5 % 17 % 0, H % 0 0 % 20 % V % 0 0 % 14 % H % 0 0 % 19 %

105 OPPTAKSRAPPORT HØST 2015 Saksbehandler Marianne Eskeland Arkivreferanse 15/ Utvalg Møtedato Utvalgsnr Programutvalget for masterutdanningen Forslag til vedtak: PMU tar opptaksrapporten for høsten 2015 til orientering. Bakgrunn: Opptaksrapporten høst 2015 var oppe i Styret 10/9-15. Styret vedtok i sitt møte , sak nr. 63/14, følgende opptaksrammer for høsten 2015: 450 for studenter som møter til studiestart i bachelordelen av den femårige siviløkonomutdanningen. 770 studenter totalt som møter til studiestart på masterstudiene. Styresaken er vedlagt, men nedenfor refereres noen nøkkeltall fra rapporten. Totalt antall møtt på master: 771 studenter møtte. 70 av disse var internasjonale gradsstudenter. 114 begynte på MRR. Av disse tar 66 ettårig løp. 48 tar toårig løp. Masterstudiet i økonomi og administrasjon (MØA) Antall eksterne søkere til MØA fortsatte å gå opp. Antall interne søkere gikk noe ned. 246 eksterne kandidater og 341 interne kandidater møtte til studiestart. Inntaksgrensen ble satt til 4,0 for eksterne søkere. I tillegg ble det tatt inn studenter fra venteliste internasjonale kandidater søkte om opptak. Antall søknader økte med 10% fra (16,8%) fikk tilbud. 58% av disse takket ja. 70 møtte. Dette er en oppgang på 27,3 % fra 2014, men under måltallet for 2015 på 110 kandidater. Masterstudiet i regnskap og revisjon (MRR) Antall eksterne søkere til MRR økte med 22% fra møtte mot 75 i Antall interne søkere gikk noe ned. 15 møtte mot 35 i

106 2 Kvinneandel: Måltallet for kvinneandelen til samtlige studier (inkl. bachelordelen av den femårige siviløkonomutdanningen) ble nådd (41,1 %).

107 Vår referanse: Seksjon for opptak Vår dato: 15/ Rapport: Søking og opptak til høyskolens fulltidsstudier i 2015 Bakgrunn Styret vedtok i sak 63/14 følgende: Styret vedtar en opptaksramme på 450 for studenter som møter til studiestart i bachelordelen av den femårige siviløkonomutdanningen høsten Styret vedtar en opptaksramme totalt for masterstudiene i 2015 på 770 studenter som møter til studiestart. Styret delegerer til Programutvalget for masterutdanningen å vedta opptaksrammer for de enkelte opptak, men forventer en vekst i opptaket av internasjonale masterstudenter høsten Resultater fra opptaket 2015 Opptaket 2015 viser at man på et overordnet nivå er nær ved å treffe måltallene ovenfor. Bachelorstudiet i økonomi og administrasjon har 443 studenter møtt, mens masterstudiene har 771 studenter møtt. Kvinneandelen til samtlige studier viser dessuten at måltallet er nådd for fulltidsstudiene samlet sett (41,1 %). Tallmaterialet viser imidlertid at høyskolen fremdeles har utfordringer i opptaket til internasjonale masterprofiler (MSc), hvor antall møtt kun var 70 studenter Antall møtt Kvinneandel Totalt Bachelornivå ,2 % Totalt Masternivå ,7 % MØA ,1 % eksterne 246 interne overganger 341 MSc 70 32,9 % ENE 18 FIN 15 MIB 12 MBM 11 STR 8 ECN 6 MRR ,2 % eksterne 99 interne overganger 15

108 Bachelordelen av den femårige siviløkonomutdanningen Søkingen til bachelorstudiet (Tabell 1) går opp med 9 prosent fra NHH er igjen Norges mest søkte studium. Oppgangen i søkere som hadde NHH som førstevalg var på 9 prosent fra Det ble heller ikke i år gjennomført suppleringsopptak. Poenggrensene etter opptaket økte med 0,4 poeng til 53,4 for førstegangsvitnemålkvoten og steg med 0,3 poeng til 56,5 i ordinær kvote sammenlignet med Møtttallet er færre enn måltallet. Kvinneandelen synker fra 41,3 prosent i 2014 til 40,2 prosent. Også i år later søkerne til å være realistiske i sin tilnærming til søkeprosessen og karakterkravene, de velger å søke på studier der de har mulighet til å kunne komme inn. Tabell 1: Opptak til bachelordelen av den femårige siviløkonomutdanningen Måltall Søkere Endring 2 % 1 % 7 % -4 % -8 % 9 % 1.prioritetssøkere Endring -3 % 2 % 7 % -2 % -10 % 9 % Poenggrenser (F/O) 51,7/54,7 53,0/55,2 52,6/55,8 52,6/56,5 53/56,2 53,4/56,5 Møtt Kvinneandel møtt 43,2 % 37,8 % 47,6 % 39,7 % 41,3 % 40,2 % Masterstudiet i økonomi og administrasjon - norskspråklige kandidater Søkingen til masterstudiet i økonomi og administrasjon (Tabell 2 og 3) fortsetter å gå opp hva angår eksterne søkere og går noe ned hva angår interne. Møtt-tallet for MØA 2015 er 246 eksterne kandidater og 341 interne kandidater, totalt 771 mot fjorårets 805. Inntaksgrensen ble satt til 4,0 for eksterne søkere, og de med 3,9 ble satt på venteliste. Alle som stod på venteliste fikk til slutt plass. Fjorårets karaktergrense på MØA var 3,9. Tabell 2: Opptak av eksterne norskspråklige kandidater til MØA - høst Søkere Tilbud Ja-svar Møtt Kvinneandel møtt 34,8 % 42,2 % 36,3 % 31,0 % 34,2 % 41,0 % Tabell 3: Opptak av interne kandidater til MØA vår og høst Søkere Innvilget overgang Møtt * Kvinneandel møtt 41,5 % 45,1 % 42,1 % 40,0 % 40,5 % *78 møtt våren 2015 og 263 møtt høsten

109 Master i økonomi og administrasjon internasjonale profiler Søkingen av internasjonale kandidater økte med 10 prosent fra 2014, men av disse var det få kvalifiserte, og bare 214 eller 16, 8 prosent fikk tilbud, 58 prosent av disse takket ja og antall møtt ble 70 studenter. Dette er en oppgang fra 2014 på 27,3 prosent. Måltallet for 2015 var satt til 110, så høyskolen ligger 36 prosent under målsetningen. MSc har samlet en kvinneandel på 33 prosent, MIB og MBM trekker opp med hhv. 58,3 prosent og 45,5 prosent. De mest søkte profilene var MIB, FIN og ENE som stod for 63 prosent av søkermassen. Lavt antall kvalifiserte søkere kan ha ulike årsaker. Det kan skyldes sviktende eller utilstrekkelig markedsføring, NHHs internasjonale anseelse, forhold man ikke rår over, f.eks. den finansielle uroen i verden o.a. Det kan også nevnes at blant 1273 søkere var det under halvparten som fullførte søknaden (lastet opp komplett dokumentasjon). NHH arbeider for tiden langs flere spor for å styrke rekrutteringen til de internasjonale profilene. Tabell 4: Opptak av eksterne engelskspråklige kandidater til MSc H09 H10 H11* H12 H13 H14 H15* Antall profiler Søkere Tilbud Ja-svar Møtt Kvinneandel møtt 46,5 % 39,1 % 47,5 % 50,6 % 45,5 % 47,3 % 32,8 % H09: Kun MIB og ENE *H11: MBM tilbudt for første gang *H15: MIB, ENE, MBM + FIN, STR, ECN Tabell 5: MSc - fordeling mellom profiler, Høsten 2015 Søkere Møtt MIB FIN ENE MBM ECN STRAT MIB FIN ENE MBM ECN STRAT 3

110 Master i regnskap og revisjon De eksterne søkertallene til master i regnskap og revisjon økte med 22 prosent fra Høyskolen har 99 møtt mot 75 møtt i fjor. Det er imidlertid en nedgang i antall interne søkere og møtt, 15 møtt i år mot 35 i fjor. Totalt møtte 114 studenter til MRR, 66 av disse skal ta et ettårig løp og 48 skal ta toårig løp. Inntaksgrensen ble satt til 4,0 for eksterne søkere mot 4,3 i fjor. Tabell 6: Opptak av eksterne kandidater til masterstudiet i regnskap og revisjon H09 H10 H11 H12 H13 H14 H15 Søkere Tilbud Ja-svar Møtt Kvinneandel møtt 38,8 % 41,0 % 37,2 % 36,0 % 48,0 % 40,0 % 47,5 % Tabell 7: Opptak av interne kandidater til masterstudiet i regnskap og revisjon H10 H11 H12 H13 H14 H15 Søkere Innvilget overgang Møtt Kvinneandel møtt 36,8 % 38,4 % 47,8 % 33 % 25,7 % 53,3 % Tabell 8: fordeling MRR (tall i parentes inkluderer interne kandidater) 2-årig løp 1-årig løp Søkere 228 (246) 126 Tilbud 77 (93) 96 Ja-svar 43 (58) 68 Møtt 33 (48) 66 Kvinneandel møtt 57,6 % (56,3 %) 41,8 % 4