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International Financial Markets and Culture - The Portuguese Context


IFM&C Intensive Programme courses are full time and consist of 8 core modules and 2 additional modules that correspond to the final assessment: 30 hours in total, where each module has 3 hours of lectures more the final assessment. Lecturing will be from 9:30-12:30 and 14:00-17:00, each day. In addition, each day of classes (5 days) students will have an activity and 20 hours of self-study. At the end of the IFM&C Intensive Programme the student attended a total of 81 hours corresponding to 3 ECTS credits (81 hour/27 ECTS/h = 3 ECTS).
All the material will be available for students through e-learning system of IPB and Bibliographic material to support the classes will be available for the students.

Topic: Economic Structure of the Portuguese Economy
Lecturer: Alcina Nunes (PhD)

Module 1. Portuguese economy in the context of economic, financial and monetary integration: Evolution of national accounts; Evolution of public finance macroeconomic indicators; Evolution of labour market macroeconomic indicators; Evolution of international macroeconomic indicators.
Module 2. Financial integration and Portuguese financial structure; Structural reforms and economic and financial policies: recent developments.
Bibliography: OECD (2012). OECD Economic Surveys: Portugal 2012. OECD Publishing. http://dx.doi.org/10.1787/eco_surveys-prt-2012-en
Banco de Portugal (2009). The Portuguese Economy in the Context of Economic, Financial and Monetary Integration. Banco de Portugal: Lisbon. Complete%20publication.pdf.

Topic: Financial Management and Behaviour of Financial Markets
Lecturer: Ana Paula Monte (PhD)

Module 3. Financial institutions and markets: functions, classification, organization, structure and functioning; theory and structure of interest; determination of the price of the financial assets (bonds and stocks).
Module 4. The psychology of markets: Conventional view of portfolio theory - the Efficient Markets Hypothesis; Heuristics and Behaviour deviations; the investor sentiment and the effect of behavioural theories on corporate finance.
Module 5. Establishment of a company and project appraisal: the business plan; funding and the capital structure decisions (Debt versus Equity).
Module 6. Establishment of a company and project appraisal: Appraisal Methods/Techniques.
Bibliography: Bodie, Z., Kane, A., & Marcus, A. (2004). Investments. McGraw-Hill Higher Education, 6th ed., (ISBN-13: 978-0072934144).
Fabozzi, F. & Modigliani, F. (2002). Capital Markets: Institutions and Instruments. Prentice-hall International Edition, 3rd ed., (ISBN-13: 978-0130673343).
Ross, S., Westerfield, R., & Jaffe, J. (2006). Fundamentals of Corporate Finance. McGraw-Hill International Editions, 6th edition.
Shleifer, A. (2000). Inefficient Markets: An Introduction to Behavioral Finance (Clarendon Lectures in Economics). Oxford University Press. (ISBN-13: 978-0198292272).

Topic: Culture & Organization
Lecturer: Paula Odete (PhD) and Maria do Carmo Neves (MSc)

Module 7. The concepts of Culture and Organizational Culture.
Module 8. Consumer behavior: Consumers in the Marketplace; Consumers as decision-makers.
Bibliography: Geert Hofstede (Cultures and Organizations: Software of the Mind: 2010), Richard Gesteland (Cross-Cultural Business Behavior: 2012) and various current sources.
Solomon, M., Bamossy, G., Askegaard, S., & Hogg, M. (2013). Consumer Behaviour: A European Perspective. Pearson Education Limited, 5th ed., (ISBN: 978-0-273-77272-9).

Topic: Examination
Module 9 & 10. Presentations and Evaluation.

Teaching Methodology: Interactive lectures with active breaks involving students, case studies, simulations and small group work. For the practical application of the concepts will be used the statistical and econometric software. A variation of theoretical lecturing and visits at public institutions, financial institutions and companies which can be related to the theoretical lecturing.

Form of Examination
- 24 hours take home case, to be presented for opponent group of other students - pass/fail
- Proposal of case study: (i) efficiency analysis of the Portuguese stock market; (ii) comparison of the Portuguese financial system and the country of origin; or, (iii) investment project in Portugal and it economic and financial evaluation.
The students will have 24 hours to prepare the case assignment, after which they will present their findings to a panel of teachers and an opponent group of students. PPT slides must be submitted as documentation and will be taken into consideration for assessment of each group’s work.
Each group will have 30 minutes: 15 minutes for presentation and 15 minutes for discussion with the opponent group and assessment by the teachers.

 
IP Coordinator
Paula Odete Fernandes
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Department: Economics and Management
School of Technology and Management
Campus de Santa Apolónia
5300-253 Bragança - Portugal
Phone: +351 273 303 103
Fax: +351 273 313 051
Key Dates
IP Date:
02/11/2013 to 15/11/2013
Arrival to Bragança:
02/11/2013
Departure from Bragança:
16/11/2013

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Campus de Santa Apolónia - 5300-253 BRAGANÇA * Tel: (+351) 273 303 200 / (+351) 273 331 570 - Fax: (+351) 273 325 405 * E-mail: suporte@ipb.pt