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Bachelor of Arts HSG (B.A. HSG) Business Administration Economics International Affairs Law Law and Economics Master of Arts HSG (M.A. HSG) Information, Media and Technology Management Marketing, Services and Communication Management Accounting and Finance Banking and Finance Strategy and International Management Economics Quantitative Economics and Finance International Affairs and Governance Law Law and Economics Organization Studies and Cultural Theory*
*subject to final approval
German German German English English German English English or German German German German
Ph.D. Programmes Management (several areas of specialisation) Economics and Finance International Affairs and Political Economy Organization Studies and Cultural Theory Law Executive School Full- and part-time MBA Several Executive MBAs
Title page: Prof. Dr. Dirk Lehmkuhl, Ph.D. in a lively discussion with students of the Masters in International Affairs and Governance during a seminar.
This brochure focuses on the 4 English-language Master's Programmes. Please consult our website for brochures and information about the other programmes.
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Table of Contents
University of St.Gallen (HSG): Degree Courses Welcome to the HSG The University of St.Gallen (HSG) Living in Switzerland Living in St.Gallen Master of Arts HSG in Banking and Finance Master of Arts HSG in Strategy and International Management Master of Arts HSG in Quantitative Economics and Finance Master of Arts HSG in International Affairs and Governance International Orientation Double Degree Programmes Student Commitment Career Perspectives Financial Information Academic Calendar and Application Process Rankings and Accreditations 2 5 6 10 13
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Internationality, practical relevance and an integrative view have been characteristics of the HSG ever since its establishment more than a century ago.
Professor Ernst Mohr, Ph.D. (second from left)
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Dear Candidate,
Welcome to the University of St.Gallen (HSG)
It gives me great pleasure to introduce the University of St.Gallen, also known as the HSG, in Switzerland to you. We are one of Europes leading Universities for business, economics, law and social sciences. Studies at our University are characterised by the following features:
Student Commitment
Students are organised in nearly 100 associations, initiatives, project teams and the Student Union.
Genuine Internationality
The HSG is linked up with 150 partner universities worldwide and offers exchange and double degree programmes. At the same time, we are part of the CEMS, PIM and APSIA networks. 34% of students come from foreign countries, from a total of 80 nations worldwide.
Tuition Fees
Contrary to general opinion, tuition fees are rather low in Switzerland. Foreign students have to pay CHF 2,340 per year at the University of St.Gallen. These fees are so low because the lion's share of the actual costs (CHF 26,500 per year, per student) is defrayed by the Swiss Confederation and the cantons. In addition, the HSG benefits from numerous sponsorships thanks to its good relations with trade and industry.
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The University of St.Gallen (HSG), Switzerland, was founded as a Business Academy in 1898in the heyday of St.Gallen embroideryand offered its first lectures in 1899. We continue to pursue the goal of providing our more than 6,500 students with a practice-oriented education, guided by an integrative view of business, economics, law and social sciences. With success: the University of St.Gallen has constantly been ranked among the top business schools in Europe. Accreditations by EQUIS and AACSB International underline our commitment to a holistic curriculum that meets the highest academic standards. The HSG aims to develop students both in professional and personal terms by providing them with an education along humanist lines.
Contact Studies
Contact studies consist of lectures and seminars in small groups. Students have to attend programme-specific compulsory courses, core electives and independent electives. Independent electives can be selected from the students own Masters programmes or from other programmes. Thus our students have the opportunity to acquire additional knowledge in other fields of interest.
Independent Studies
Independent studies are multimedia-supported and interactive, and they reinforce students personal responsibility. In terms of subject matter, they complement contact studies.
Master's Thesis
To complete a Master's degree students must write a thesis worth 18 ECTS. The topics of the Masters thesis may derive from any constituent of the Masters degree courses.
Research
Research at the University of St.Gallen is centered around the 40 institutes and research centres, which are an integral part of the
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University. The directors of the institutes double as HSG professors. Bringing theory and practice together, the institutes provide an important input for teaching at the University and play a significant role in furthering the careers of young academics. Our 80 tenured professors, 60 assistant professors and senior lecturers, more than 300 lecturers and 300 assistants and distinguished visiting professors cultivate the scientific discourse with our students.
International Management and in 2nd place with the CEMS Master in International Management. Additionally, the CHE Ranking awards good grades to the HSG, placing it in the top group in German-speaking Europe. The HSG has earned the EQUIS (2001) and AACSB (2003) accreditations and consequently has obtained the two most demanding international seals of approval for business schools. These two awards are evidence of the high standard of education, which is internationally recognised, as well as the HSGs excellent quality of service on campus. www.quality.unisg.ch www.rankings.unisg.ch
Executive Education
The institutes do not only stand for excellence in research, but offer consulting services and act as leading providers of executive education in German-speaking Europe. As such, the portfolio of study options is completed by a full- and parttime MBA and several Executive MBA programmes. www.es.unisg.ch
Campus
The Campus of the University of St.Gallen (HSG) is situated
on a hill on the outskirts of the City of St.Gallen. The town centre can be reached on foot in about 15 minutes. Our Campus offers a beautiful view of the Alps and of Lake Constance.
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The Academic Structure at the University of St.Gallen (HSG) Three levels - three pillars (3x3)
Contact Studies
Independent Studies
Contextual Studies
Ph.D. Programmes
Electives
Cultural Awareness
Critical Thinking
Leadership Skills
Business Administration
Freshman Week
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Coaching Programme
Business Administration
Law or Mathematics
Economics
Economics
Law
Law
Mentoring Programme
Electives
Mentoring Programme
The University of St.Gallen offers the latest facilities and services to support individual and collaborative learning, including web-based communication platforms and wireless LAN. The library contains around 460,000 books, 70,000 e-books, some 1,400 journals and some 16,000 e-journals.
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Living in Switzerland
"The University of St.Gallen provides a setting which marries the promise of the future with the foundations of traditions - and an absolutely essential link between academic work and the practical world."
Kofi Annan
Former UN Secretary General Freedom Prize of the Max Schmidheiny Foundation University of St.Gallen, 18 November 2006
As a federal republic with a system of direct democracy, Switzerland enjoys a high degree of political stability. Its position as a neutral country allows it to play an important humanitarian role in world affairs and to act as a mediator between conflicting parties. Switzerland is the home of various international organisations such as the Red Cross (ICRC), the United Nations (UN) and the World Trade Organization (WTO). Switzerlands economy is based on a highly qualified labour force. The main areas include micro-, hi- and biotechnology and pharmaceuticals, as well as banking and insurance know-how. Swiss companies are extremely competitive in world markets. The best-known export items are watches, chocolate and cheese, but in fact mechanical and electrical engineering and chemicals together account for over half of Swiss export revenues. Consultancy, banking, insurance and tourism are also a significant part of the export trade. Political stability and a flourishing economy allow for a high standard of living (e.g. security, lifestyle and employability) at affordable prices. Contrary to general opinion, the cost of living is lower than in, say, London, Paris or Rome.
An increasingly large number of companies are moving their European headquarters to Switzerland to take advantage of the favourable business and living environment.
Switzerlands international reputation as a research centre is beyond dispute. The high standard of the two Swiss Federal Institutes of Technology, of the 10 cantonal universities and of research institutes in Switzerland attracts many scientists and students from overseas.
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St.Gallen is situated in the German-speaking part of Switzerland, close to the German and Austrian borders. Zurich International Airport can be reached by train in an hour.
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View of the campus (front), the historic centre of St.Gallen and the Alpstein Mountains
Living in St.Gallen
St.Gallen offers its approximately 75,000 inhabitants a historically valuable old town. The narrow streets with their many shops, cosy restaurants and bars at every corner create an atmosphere you cant help falling in love with. The Abbey District with the baroque cathedral and the Abbey Library is a UNESCO World Heritage Site and thus of international significance. Further cultural highlights are provided by performances in the City Theatre, the Concert Hall, the St.Gallen Festivals, as well as by exhibitions in numerous museums. One event that is particularly popular with many students is the St.Gallen Open Air, during which the Sitter Valley is transformed into Switzerlands biggest tent city for three days. There are many foreign restaurants in the area of St.Gallen: Chinese, Thai, Japanese, Mexican, Argentinian, Lebanese, Greek, Turkish, Indian, Spanish, Italian and American chefs are not the only ones by far to offer their countries specialties. In addition, foreign nationals often set up clubs and associations in order to cultivate their home countrys culture and language together. As a rule, they also sell local foodstuffs in shops of their own.
History
St.Gallen became affluent through the textile trade. Although textile production has since moved to other parts of the world, St.Gallen is still the centre for textile design and prototype development. Once 90% of worldwide embroidery production was traded by St.Gallens merchants. The need for professional education soon became evident. In 1898, St.Gallen merchants founded a commercial school: the University of St.Gallen was established.
Accommodation
The University of St.Gallen does not offer on-campus housing. Generally, students share a large apartment or rent a small one. The Student Union has a housing market on its website. The HSGs International Exchange Service also offers a limited number of rooms in a student residence against a brokerage fee. Interested parties should contact the Exchange Office: exchange@unisg.ch as early as possible. www.myunisg.ch
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The Master's in Banking and Finance is a great programme because it offers a broad range of lectures and seminars and because it allows us to design our individual curriculum according to our interests. The programme fosters the exchange between students, faculty, and financial institutions. This guarantees a focus of our lectures on the practitioners needs and leads to an optimal preparation for a professional career.
Alex Simic
Switzerland, MBF
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With a challenging curriculum, the Master's in Banking and Finance (MBF) is one of the leading international finance programmes. In the fields of financial markets, financial institutions, corporate finance and quantitative finance, the programme offers high-quality education in both theory and application. It is designed to train our students in the critical reflection of the different concepts and approaches used in financial theory and practice.
This acknowledges that the MBF programme covers more than 70% of the Candidate Body of Knowledge for all three levels of the CFA programme. Additionally, this partnership allows us to award CFA fellowships each year to five outstanding MBF students entering the programme.
Educational Goals
The programmes educational goals encompass three dimensions:
Functional Dimension
1. An understanding of the function and importance of financial intermediation in the context of the present and future development of economic systems and its integration in the social, legal and political sphere.
Compulsory Subjects
The three demanding compulsory courses, Financial Markets, Financial Institutions, and Quantitative Methods, to be attended in the first semester, emphasise the holistic concept of the programme.
Instrumental Dimension
2. Knowledge of the theory and application of financial markets, characteristics and implementation of modern financial instruments, and the core functions of modern financial management.
Core Electives
In the second and third semester, students may design their individual curriculum according to their preferences and choose to focus on financial markets, corporate finance, institutions or methods. Of course, our students are absolutely free to choose from our long list of core electives.
Institutional Dimension
3. Knowledge of the core functions of planning, steering and supervision of financial institutions and their strategic business units.
Research Seminar
In the research seminar, our students are required to write a seminar paper with a research focus and have to present their findings. Therefore, in combination with the Masters thesis, the MBF provides a thorough preparation for a Ph.D.
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Core Electives
Markets Corporate Finance Institutions Methods
Derivatives Advanced Derivatives Real Estate Finance Market Microstructure Institutional Asset Management Alternative Investments Energy Finance Pension Finance Fixed Income Instruments International Finance Behavioural Finance Secondary Markets for Credit Risks Entrepreneurial Finance and Venture Capital
Corporate Finance and Governance Leveraged Buyouts Mergers and Acquisitions Corporate Valuation Corporate Financial Management Business Forecasting Business Performance Management Tax Planning and Tax Accounting Advanced Corporate Finance
Asset Liability Management for Insurance Companies Financial Services Management Topics in Private Banking and Wealth Management Bank Treasury Management Ethics of Financial Services Financial Regulation and Risk Management Topics in Investment Banking Banking Game Theory of Risk and Insurance Economics and Policy in Central Banks Pension Systems Cases in Financial Institutions Management Theory of Financial Intermediation
Computational Finance Financial Econometrics Financial Modelling Workshop: Asset Allocation Financial Modelling Workshop: Derivatives Financial Risk Management Quantitative Risk Management Time Series Econometrics Microeconometrics
The core electives may be divided into four possible tracks: Markets, Corporate Finance, Institutions and Methods. These tracks should give the students some guidance for their individual course selection. However, our students are free to combine core electives from all the four tracks.
Independent Electives
Independent electives create additional choices: students may either attend further core electives of the MBF or courses of other Masters programmes. A third option is to attend courses of the Department of Management.
Bankers guarantee an early contact with potential employers and support the MBF in many ways. Our industrial partners award fellowships for the best students entering the programme. At the end of the programme they award prizes. Thanks to their ongoing support, the MBF invites visiting professors from internationally renowned universities on a regular basis. Doing internships and collaborating with the financial industry when writing the Masters thesis is simplified thanks to the Partners of the MBF.
Industrial Partners
The MBF encourages the exchange between students, faculty and the financial industry. The 'Partners of the MBF' with Credit Suisse Group, Bank Sarasin, UBS and Wegelin Private
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At university, I was hardly able to imagine how much influence the MBF programme would have on my future. The knowledge gained in lectures such as Derivative Instruments, Corporate Finance, Pension Finance and Financial Services Management affects essential parts of my daily business nowadays. I got convinced that the conceptual content of the lessons taught at the HSG is absolutely in step with actual practice. I am glad that I was able to enjoy such an effective education.
Career Perspectives
The MBF guarantees a successful career start in the world of banking, insurance, asset management, financial consulting, or other areas related to finance. At the same time, the rigorous and research-oriented approach ensures a thorough preparation for further academic studies, especially a Ph.D. Admission criteria for foreign nationals: international test (GMAT: a minimum of 650; or GRE: a minimum of 740; or LSAT: a minimum of 161) or admission test of the University of St.Gallen (available in German only) Proficiency in the English language
Variety Management
Special Variety Management criteria are applicable for students from countries outside the European Union and the European Economic Area (EEA). If these criteria are fulfilled, students may be admitted with a minimum GMAT score of 600 points, a minimum GRE score of 700, or a minimum LSAT score of 156 points. Please note that the admission criteria are subject to change. Please consult our website for the latest admission criteria. www.admissions.unisg.ch www.mbf.unisg.ch For specific questions: admissions@unisg.ch
Admission Requirements
Recognised Bachelors degree in business administration, economics (or equivalent) or a recognised Master's or Licentiates degree in any academic field.
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Curriculum
Compulsory Subjects Core Studies
3rd sem.
Examples:
Financial Services Management Banking Game Financial Regulation and Supervision
Independent Electives
2nd sem.
Derivative Instruments Computational Finance Behavioural Finance Management of Risk and Insurance Pension Finance
1st sem.
Credits
15 ECTS
27 ECTS
12 ECTS
18 ECTS
6 ECTS
Leadership Skills
Masters Thesis
Research Seminar Corporate Finance Research Seminar Finance Research Seminar Financial Services and Institutions Research Seminar Quantitative Finance Research Seminar Management of Insurance Companies
12 ECTS
Profile
Class of 2010 Class size: 189 (divided up into small groups of students) Average age: 24 Male / female ratio: 75% / 25% Nationalities represented: 26 International students: 54% Average GMAT: 660 points / GRE: 740 points Job offers before graduation: 2.2 Average starting wage: CHF 97,000* Average salary range: CHF 91,000 - CHF 115,000**
*Average of all international Master's Programmes 2008 **Range of all international Master's Programmes 2008 (Source: HSG 2008)
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Faculty
Prof. Dr. Manuel Ammann (Academic Director of the MBF) Prof. Dr. Walter Ackermann Prof. Dr. Jrg Baumberger Prof. Dr. Beat Bernet Prof. Dr. Urs Bertschinger Prof. Dr. Karl Frauendorfer Prof. Dr. Andreas Grnbichler Prof. Dr. Andreas Grner Prof. Dr. Christian Keuschnigg Prof. Dr. Gebhard Kirchgssner Prof. Matthias Lutz, D.Phil. Prof. Dr. Hato Schmeiser Prof. Paul Sderlind, PhD Prof. Dr. Klaus Spremann Prof. Dr. Hans-Jrgen Wolter
Contact
For any questions regarding the contents and the structure of the Master's Programme in Banking and Finance, please contact:
Roman Frey MBF Assistant More information on our faculty members and their fields of research can be found on: www.alexandria.unisg.ch
The SIM programme offers much more than a degree. Behind these three letters lies a vast and breathtaking community, as well as new friendships and experiences. The programme offers a unique insight into diversity and interpersonal skills. Being part of the SIM programme is like becoming part of a large multicultural family.
Lucy Jane Baumgartner
United Kingdom, SIM
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The mission of the Masters Programme in Strategy and International Management (SIM) is to provide students with the advanced knowledge of general management necessary for a successful career as respected and responsible managers, entrepreneurs or business consultants. The programme offers an integrative and interdisciplinary approach, because only an approach of this nature is capable of conveying the ability to cope with the complex management challenges of our time. The aspiration to act independently of all interests and the commitment to upholding high ethical and academic standards serve as the basis of the SIM. The SIM programme offers a graduate education in strategy and international management. The programme builds upon the disciplines of strategy, leadership, finance, marketing, organisational behaviour and international management. Advanced courses in these majors are complemented by so-called SIM Integratives, which explore major management challenges of our time by taking a holistic approach to the relevant management disciplines. A carefully selected choice of SIM Integratives addresses issues at the heart of a company's success. The SIM curriculum unites the best of both worlds. It combines the academic rigour of a Master of Arts with the interactive nature and practice-oriented approach found in leading MBA programmes. This demanding curriculum also reflects the confidence the programme has in its students' abilities and potential.
Placed 4th in the Financial Times Global Masters in Management Ranking 2010 !
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Before I participated in the SIM double degree programme at the HSG in St.Gallen and at the Nanyang Business School Singapore, I graduated as an engineer from the Federal Institute of Technology in Zurich and worked in the consulting industry for two years. The SIM double degree programme was an excellent choice to pursue my Master's studies in a challenging and international environment. The insights I gained during my time in Asia are a great asset in today's business world.
Independent Electives
Students may choose from a range of different independent electives, offered both by the SIM programme and other Master's programmes. Thus students have the opportunity to acquire additional knowledge of specific fields of interest. In the course of the three semesters, courses to the equivalent of 12 ECTS must be chosen.
Educational partnerships provide SIM students with the following opportunities: Double degree programme with the Nanyang Business School in Singapore. The Nanyang Business School is one of the top business schools in Asia. It is committed to excellent teaching, an innovative curriculum and quality research. It is the only business school in Singapore and the fifth in Asia to achieve full EQUIS accreditation. An exclusive double degree programme provides our students with the unique opportunity to gain both Asian and European perspectives on business. Students simultaneously earn themselves an MBA at the Nanyang Business School in Singapore and a high-profile SIM Master's degree at the University of St.Gallen. CEMS Master in International Management Double degree programmes with ESADE, Barcelona, Spain; HEC, Paris, France; RSM Erasmus University, Rotterdam, Netherlands; Universit Commerciale Luigi Bocconi, Milan, Italy; and FGV-EAESP, Fundaao Getulio Vargas, So Paulo, Brazil Exchange programmes with 150 partner universities worldwide
Corporate Partnerships
The SIM programme has close ties to the business world. Internationally operating companies, which are among the leaders in their fields, support the SIM programme as corporate sponsors, such as McKinsey & Company, Deloitte or Novo Nordisk. This cooperation includes interactive workshops, lectures and invitations to visit their offices as well as attractive international internships.
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Career Perspectives
The rigorous curriculum, which fosters academic excellence, intercultural and linguistic skills, as well as an interdisciplinary problem-solving approach, optimally equips SIM students for top international management positions. Many find interesting positions in consultancy firms. Others start a career in the consumer goods industry, in the financial services sector, pharmaceuticals or in academia. Subject to a students grades, this Masters degree will also enable him/her to pursue a promising academic career as it provides access to Ph.D. programmes.
International Management
Strategic Management
Financial Management
Alliance & Network Strategy Corporate Brand Management Corporate Strategy & Governance Corporate Entrepreneurship Mergers & Acquisitions Professional Service Firms Organising for Sustained Corporate Growth Corporate Governance
Admission Requirements
Recognised Bachelors degree in management, business administration (or equivalent) or a recognised Master's or Licentiates degree in any academic field. Bachelors grade average GMAT: a minimum of 650 points Proficiency in the English language CV Letter of motivation Extracurricular activities The admission criteria may be subject to change. Please consult our website for the latest admission criteria. Detailed information regarding admission criteria: www.admissions.unisg.ch www.sim.unisg.ch For specific questions: admissions@unisg.ch
Research in Management
Strategic Leadership
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Curriculum
Compulsory Subjects Core Electives
Core Studies
3rd sem. Integratives Alliance & Network Strategy Corporate Brand Management Corporate Strategy & Governance Corporate Entrepreneurship Mergers & Acquisitions Professional Service Firms Organising for Sustained Corporate Growth Corporate Governance (choose 2 out of 8)
Independent Electives
2nd sem.
Advanced Management Courses II Marketing & Consumer Behaviour Organisational Behaviour & Change (choose 1) Advanced Management Courses I Strategic Management International Management Strategic Leadership Financial Management Research in Management
1st sem.
Credits
24 ECTS
12 ECTS
18 ECTS
6 ECTS
12 ECTS
Profile
Class of 2010 Class size: 40 students Average age: 25 Male / Female: 66% / 34% Nationalities represented: 14 International students: 70% Average GMAT: 680 points Job offers before graduation: 2.6 Average starting wage: CHF 97,000* Average salary range: CHF 91,000 - CHF 115,000**
*Average of all international Master's Programmes 2008 **Range of all international Master's Programmes 2008 (Source: HSG 2008)
Exchange rate (Sept. 2010): CHF 1.00 = EUR 0.75 / CHF 1.00 = USD 0.98
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Diversity in Action
Leadership Skills
Masters Thesis
Faculty
Dr. Omid Aschari, MBA Prof. Dr. Heike Bruch Prof. Steven Floyd, PhD Prof. Dr. Peter Gomez Prof. Dr. Martin Hilb Dr. Markus Kreutzer Prof. Dr. Christoph Lechner Dr. Markus Menz Prof. Dr. Gnter Mller-Stewens Prof. Dr. Sven Reinecke Prof. Dr. Winfried Ruigrok Dr. Torsten Schmid Prof. Dr. Marcus Schoegel Prof. Dr. Chris Steyaert Prof. Dr. Thorsten Tomczak Dr. Thorsten Truijens Dr. Alexander Zimmermann
Contact
For any questions regarding the contents and the structure of the Master's Programme in Strategy and International Management, please contact:
More information on our faculty members and their fields of research can be found on: www.alexandria.unisg.ch
CH-9000 St.Gallen Switzerland Phone +41 (0)71 224 23 67 Fax +41 (0)71 224 23 55 E-Mail: sim@unisg.ch www.sim.unisg.ch
I chose the MiQE/F programme because it uniquely combines quantitative methods with finance and other economic subjects. Students benefit from close contact with an international faculty. When questions and new challenges arise, professors are always ready to help at short notice. People who are looking for an academically demanding programme in a familiar atmosphere will be in the right place.
Audrius Mozuras
Lithuania, MiQE/F
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The Masters Programme in Quantitative Economics and Finance (MiQE/F) offers a high-quality graduate education in economic theory, finance, and quantitative methods. Apart from a common set of core courses, our students select from a larger menu of optional courses to specialise in economics, finance, or a combination of both. The unique feature of the programme is to combine rigorous economic and finance theory with quantitative empirical methods to analyse and solve challenging practical problems in economics, finance and the private sector. Being equipped with rigorous statistical and econometric methods and an expert knowledge of economics and finance, our graduates are uniquely positioned on the job market to successfully compete for the most challenging career opportunities in science, the private sector and national and international policy institutions. The curriculum consists of eight compulsory courses with three or four credits each, a menu of core and independent electives, and a variety of courses for contextual studies. During the first semester students acquire basic methods and a theoretical knowledge of economics, finance and econometrics, as well as of mathematics and statistics. This intensive first semester establishes a common basis for all the students with different backgrounds. The second semester involves advanced application-oriented work and problemsolving in the student's field of specialisation. The third semester is devoted to writing the Master's thesis and applying the acquired skills to explore a concrete research topic. There is some overlap with the courses offered in the Ph.D. programme in Economics and Finance (PEF), which underlines the high academic standard of the MiQE/F programme.
We encourage our students to acquire practical experience and to establish contacts for their future career start. For this reason practice credits are awarded for qualified internships, which are credited to curricular courses.
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To extend the choice of courses, the University of St.Gallen and the University of Constance (Germany) have agreed upon cooperation at the Master's Level. MiQE/F students thus have the opportunity to choose certain courses from the Master's Programme in International Economic Relations at the University of Constance, and vice versa. Exchange programmes with 150 partner universities worldwide
prepares participants for ambitious careers that require a good education in economics, finance and quantitative methods. The competitive advantage of MiQE/F graduates on the job market is the combination of quantitative methods and expert knowledge of economics and finance. The analysis of complex real world problems in international economic policy making, financial sector developments and private industry increasingly requires the use of rigorous quantitative and theoretical methods and thereby creates a rising demand for our alumni. In addition, MiQE/F is an ideal preparation for demanding Ph.D. programmes in Economics, Econometrics and/or Finance.
Reasons for Enrolling in the Masters Programme in Quantitative Economics and Finance
Competitive advantage on the job market: because nowadays, good jobs for economists, in economics as well as in finance, require a profound knowledge of the methods of empirical research and analysis. Flexibility: make your own decision as to whether you want to specialise in Econometrics, Economics or Finance. Faculty: work with a comparatively young and internationally recognised faculty that is an active part of the scientific community.
Career Perspectives
Graduates with an economics degree often lack an in-depth education and extensive training in quantitative methods, whereas mathematicians and statisticians often lack the necessary background in economics or finance. MiQE/F
High educational standard: the MiQE/F adheres strictly to the highest international economic standards. Benefit from small class sizes. International setting: work with students and lecturers from different countries all over the world and from
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What distinguishes MiQE/F most from other Masters Programmes in economics is its focus on quantitative methods. MiQE/F provides students with sound analytical skills that are very essential in todays working life. In particular, students acquire the ability to understand what is actually behind the models commonly used for instance in the financial world. In my job in hedge fund selection it is important to fully grasp a variety of trading and investment styles; the rigorous multidisciplinary training has provided me with a good basis!
different cultural backgrounds. All lectures and examinations are in English. Ph.D: a successful completion of MiQE/F will be an ideal preparation for our demanding Ph.D. programme in Economics and Finance (PEF). Student participation: faculty members and students often meet informally in order to discuss further improvements, so students actually have the possibility of actively contributing to and participating in the development of the programme.
Variety Management
Special Variety Management criteria are applicable for students from countries outside the European Union and the European Economic Area (EEA). If these criteria are fulfilled, students may be admitted with a minimum GRE score of 700 points. The admission criteria may be subject to change. Please consult our website for the latest admission criteria. www.admissions.unisg.ch www.miqef.unisg.ch For specific questions: admissions@unisg.ch
Admission Requirements
Recognised Bachelors degree in Economics (or equivalent) or a recognised Master's or Licentiates degree in any academic field.
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Curriculum
Compulsory Subjects Core Electives
Core Studies
3rd sem. Field Courses: Finance/Econometrics (2 of 4) Quantitative Risk Management Asset Pricing Microeconometrics Time Series Econometrics Economics (1 of 3) Public Economics Labour Economics Industrial Organisation Other core electives courses to the amount of 4 ECTS 1st sem. Mathematics Statistics Advanced Macroeconomics I Advanced Microeconomics I Econometrics I Theory of Finance
Contextual Studies
Independent Electives
Credits
30 ECTS
16 ECTS
8 ECTS
18 ECTS
6 ECTS
Leadership Skills
2nd sem.
12 ECTS
Profile
Class of 2010 Class size: 30 Average age: 24 Male / female: 70% / 30% Nationalities represented: 7 International students: 50% Average GRE: 760 points Job offers before graduation: 2.2 Average starting wage: CHF 97,000* Average salary range: CHF 91,000 - CHF 115,000**
*Average of all international Master's Programmes 2008 **Range of all international Master's Programmes 2008 (Source: HSG 2008)
Exchange rate (Sept. 2010): CHF 1.00 = EUR 0.75 / CHF 1.00 = USD 0.98
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Masters Thesis
Faculty
Prof. Dr. Francesco Audrino Prof. Dr. Stefan Bhler Prof. Enrico De Giorgi, Ph.D. Dr. Eva Deuchert Prof. Simon J. Evenett, Ph.D. Prof. Dr. Matthias Fengler Prof. Dr. Manfred Grtner Dr. Philipp Guyer Prof. Dr. Christian Keuschnigg Prof. Dr. Gebhard Kirchgssner Prof. Dr. Martin Kolmar Prof. Dr. Michael Lechner Prof. Dr. Heinz Mller Prof. Paul Sderlind, Ph.D. Prof. Dr. Uwe Sunde
Contact
For any questions regarding the contents and the structure of the Master's Programme in Quantitative Economics and Finance, please contact:
More information on our faculty members and their fields of research can be found on: www.alexandria.unisg.ch
What I particularly like about the Masters Programme in International Affairs and Governance is the linkage between theory and practice. We are able to cooperate with experts from international organisations, such as the World Bank or the WTO and gain insights into the problems and challenges of our future professional lives. This project work shows how important the integrative approach of the University of St.Gallen is since problems always have to be viewed from several perspectives.
Cileia Rufino dos Santos
Brazil, MIA
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The Master of Arts in International Affairs and Governance (MIA) is designed for students who seek a professional career in business, government, non-profit organisations and international agencies. MIA graduates are trained as generalists and are skilled at integrating the specialist knowledge required to address todays pressing political, economic, and social problems. Combining interdisciplinary study with a resultoriented approach, the MIA programme prepares graduates for a world in which leaders and professionals must increasingly be able to work across borders, disciplines and sectors. The MIA programme is based on an interdisciplinary curriculum that covers economics, political science, business administration and law. Compulsory courses provide the conceptual foundations, research methods and in-depth knowledge needed for a thorough understanding of complex international affairs issues. Core electives such as specific courses, tutorials and practical projects enable students to choose and refine their areas of specialisation, thus developing a professional portfolio of their own. Writing a Masters thesis permits students to concentrate on a research question in a subject area of their choice. Our programme is particularly strong in the fields of trade and development, peace and security, as well as democracy and governance. The curriculum skilfully merges St.Gallens proven expertise in economics and business with the analytical study of practical issues pertaining to politics and society as a whole.
Linking theory to practice is a top priority in the MIA programme. There are several ways of bringing theoretical analysis to bear on the solution of distinctly practical problems. Our students participate in projects with experts from international organisations such as the World Bank or the World Trade Organization (WTO). They may earn credits towards their final degree through internships in companies and in public institutions. The University of St.Gallen has a longstanding commitment to provide its students with a rigorous practical training so as to facilitate their smooth transition from university life to professional life as much as possible.
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The MIA allowed me to come to terms with a variety of topics such as European integration, international trade, political theory and the reform of public institutions. The courses were very demanding and the instructors were stimulating and easily accessible. The joint diploma programme with Sciences Po afforded me the opportunity to spend a year in Paris. Finally, the MIA led to my obtaining a much sought after position in the private sector.
Career Perspectives
The MIA programme opens the door to a great variety of careers in the public, private and non-profit sectors. For the past ten years, our graduates have gone on to work in banking and financial institutions, insurance companies, consulting firms and other multinational corporations, federal, state and local governments, development agencies, international organisations and diplomacy, the media, political parties, NGOs, non-profit organisations, as well as universities and research centres. Moreover, the MIA programme prepares students for St.Gallens Ph.D. programme in International Affairs and Political Economy.
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Admission Requirements
Recognised Bachelors degree in International Affairs (or equivalent) or a recognised Master's or Licentiates degree in any academic field Admission criteria for foreign nationals: international test (GMAT: a minimum of 650; or GRE: a minimum of 740; or LSAT: a minimum of 161) or admission test of the University of St.Gallen (available in German only) Proficiency in the English language Letter of motivation Reference letter by academics
Variety Management
Special Variety Management criteria are applicable for students from countries outside the European Union and the European Economic Area (EEA). If these criteria are fulfilled, students may be admitted with a minimum GMAT score of 600 points, a minimum GRE score of 700, or a minimum LSAT score of 156 points. The admission criteria may be subject to change. Please consult our website for the latest admission criteria. www.admissions.unisg.ch www.mia.unisg.ch For specific questions: admissions@unisg.ch
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Curriculum
Compulsory Subjects Core Electives
Core Studies
3rd sem.
Contextual Studies
Tutorials
Classics and Major Works of: Political Science Economics Business Administration Public International Law
Independent Electives
2nd sem.
Practical Projects
Development Cooperation Public Management World Bank Projects Public Affairs Management
1st sem.
Interdisciplinary Core Course Political Theory Research Methods International Business Regulation and Firm Strategy
Credits
27 ECTS
19 ECTS
8 ECTS
18 ECTS
6 ECTS
12 ECTS
Profile MIA
Class of 2010 Class size: 76 students Average age: 26 Male / female: 58% / 42% Nationalities represented: 10 International students: 38% Average GMAT: 720 points Job offers before graduation: 1.9 Average starting wage: CHF 97,000* Average salary range: CHF 91,000 - CHF 115,000**
*Average of all international Master's Programmes 2008 **Range of all international Master's Programmes 2008 (Source: HSG 2008)
Exchange rate (Sept. 2010): CHF 1.00 = EUR 0.75 / CHF 1.00 = USD 0.98
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Leadership Skills
Masters Thesis
Faculty
Prof. Daniele Caramani, Ph.D. Prof. James W. Davis, Ph.D. Prof. Simon Evenett, Ph.D. Prof. Dr. Christoph Frei Prof. Dr. Dr. Roland Kley Prof. Dirk Lehmkuhl, Ph.D. Prof. Dr. Kerstin Odendahl Prof. Dr. Kuno Schedler
Contact
For any questions regarding the contents and the structure of the Master's Programme in International Affairs and Governance (MIA), please contact:
In addition, the MIA programme draws on a distinguished faculty of scholars from all the Universitys departments as well as on practitioners and experts from international institutions and the private sector: Prof. Dr. Anne van Aaken; Prof. Dr. Jrg Baumberger; Prof. Dr. Thomas Eberle; Prof. Dr. Bernhard Ehrenzeller; Prof. Dr. Carsten Fink; PD Dr. Michael Graff; Prof. Dr. Heiner Hnggi; Dr. Urs Heierli; Prof. Dr. Miriam Meckel; Prof. Dr. Philippe Mastronardi; Prof. Dr. Silvano Moeckli; Prof. Dr. Peter Moser; Prof. Dr. Isabella Proeller; Dr. Roland Scherer; Prof. Dr. h.c. Wolfgang Schrer; lic.rer.pol. Pietro Veglio, Prof. Dr. Martin Kolmar, Prof. Dr. Ren Schaffhauser, Prof. Dr. A. Ziegler
International Orientation
The University of St.Gallen (HSG) encourages and enables its students to supplement their academic curriculum with international experience. Double degrees, exchange programmes, students from all over the world, an international faculty, internationally orientated curriculum and networks give students the opportunity to experience foreign cultures and perspectives at first hand.
Networks:
The Global Alliance in Management Education (CEMS) Partnership in International Management (PIM) Association of Professional Schools of International Affairs (APSIA)
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International exchange programmes give students firsthand, personal experience in foreign countries. In this photo, HSG student Christoph Schleiffer (right) and some other students visited the colonial village of Barichara during his exchange semester in Bogot.
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CEMS MIM students are able to apply their knowledge in business projects with corporate partners.
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Our SIM and MBF students have the opportunity to apply for a double degree programme at the excellent FGV-EAESP in Brazil.
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Student Commitment
I chose the University of St.Gallen (HSG) because it is one of Europes top business schools. This is shown by the various rankings and by the EQUIS and AACSB International accreditations. Also, I love Switzerland because of its landscape with mountains, lakes, historic towns and the snow in winter. Thanks to the HSG, I found a very rewarding job at a global company based in Switzerland.
entrepreneurial environment and the interfaces between business, politics and civil society. www.stgallen-symposium.org The oikos Model WTO is an international event with 60 students simulating the regular WTO minister conferences. www.modelwto.org More than 110 firms of international significance participate in the HSG TALENTS Conference and present themselves on the HSG Campus. www.hsgtalents.ch
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University of St.Gallen students enjoy taking advantage of the many outdoor sports activities in the Swiss Alps.
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Career Perspectives
The St.Gallen Programmes will offer you an unprecedented proximity to practitioners. The University of St.Gallen has always maintained very close ties to the European business communities, enabling it to benefit fully from the prevalence and the expertise of the surrounding international companies.
HSG TALENTS Online: CV publication, event sign-up, jobs and internship postings, company profiles, newsletter subscription Application Guidebook: consolidated know-how and practical support for your career planning process Career Library: Career Management literature Furthermore, we assist you with specific information about the work permit regulations in Switzerland for your respective nationality. While international students can work part-time during their studies, the regulation foresees a priority to Swiss and EU-nationals after graduation. The Career Management Team would be glad to speak to you to move you closer to your career objectives.
Career Management International Students Career Services Center (CSC-HSG) University of St. Gallen (HSG)
Dufourstrasse 50 CH-9000 St. Gallen Phone: +41 (0)71 224 39 51 E-Mail: csc@unisg.ch www.csc.unisg.ch www.unisg.ch
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The HSG TALENTS Conference is the University of St.Gallens official recruiting event, and as such one of the biggest in the German-speaking area. Our students are offered the excellent opportunity to establish contacts with more than 110 companies, to market themselves and to extend their network. www.hsgtalents.unisg.ch
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Labour Market
The labour market puts a premium on HSG degrees. On average, graduates are able to choose from 2.2 job offers. Search for employment: more than 80% of graduates already have a job at the time of graduation. The average salary of the first permanent job for holders of a Masters degree is CHF 95,000. The quota of HSG alumni in Swiss top management is outstanding. The HSG has the greatest placing power in Business Administration and is the runner-up with regard to Law.
(Source: Master Graduate Survey, 2008, University of St.Gallen)
HSG Alumni
HSG Alumni is the official organisation of former students of the University of St.Gallen. With more than 19,000 members and 90 Alumni Clubs on 4 continents, it is one of Europes leading associations of this type. It reinforces the alumnis lifelong bonds with the University, as well as the networks among its members, by means of numerous events and information platforms. www.alumni.unisg.ch
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Financial Information
upwards. In the fast-food outlets such as McDonalds and kebab stands, menus are more favourably priced.
Health Insurance
Various items of information about moving to St.Gallen and about health insurance schemes for foreign students can be found on the website of the City of St.Gallen. Students are required to take out a Swiss health insurance unless the Swiss authorities accept their original one. Costs start at around CHF 100 per month. www.stadt.sg.ch
Tuition Fees
Studying at the University of St.Gallen costs about CHF 26,500 per year, per student. A student's annual contribution amounts to less than 10%. The large remainder is defrayed by third parties in the form of sponsorship and by the Confederation and the cantons. Students will still have to pay the following tuition fees: application fee: CHF 250 tuition fees per semester of a regular degree course: CHF 1,170 (CHF 2,340 per year).
Travelling
In Switzerland, travelling by public transport is very convenient and is encouraged. Students are advised to obtain the Swiss Federal Railway halffare card in order to save 50% on all tickets. It is available for CHF 150 and valid for one year.
Accommodation
Prices for accommodation vary greatly depending on location, size and furnishings. If students share an apartment, they can obtain a single bedroom from CHF 450 upwards per month. Rents for small private studios range from CHF 650 upwards per month.
Swiss Grants
Switzerland also offers grants to international students. Interested parties should contact both the Swiss Embassy in their home country and Helen Obrist, the Federal Grant Officer of the University of St.Gallen at helen.obrist@unisg.ch. Swiss Embassy: www.eda.admin.ch www.studyfunding.unisg.ch
Food
A regular menu at the on-campus cafeteria costs about CHF 9. Students can find all kinds of restaurants and snack bars in town. Regular lunch menus are priced from around CHF 15
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Please check our website and contact Nadine Ballmer, Head of the Advice Center for Study Funding for further information on the above-mentioned or other options. www.studyfunding.unisg.ch E-Mail: studyfunding@unisg.ch
Money-Earning Opportunities
International students can apply to work 15 hours a week and full-time during the mid-term break. There are very few formalities on the part of the government. The university and its institutes are always looking for students to work on some project or do regular work. It is customary for a relatively high percentage of students to work at the University. Information for International Students can be found at: www.csc.unisg.ch
Expenses (CHF) Tuition Class Materials Rent (including utilities) Health Insurance (compulsory) Personal Liability and Home Insurance Radio, TV, Telephone, Internet Transport, Culture, Sport Food Miscellaneous (Household, Clothing) Total Expenses (CHF)
Annual 2,340 660 6,000 1,200 480 1,200 3,000 7,200 2,820 24,900
Exchange rate (Sept. 2010): CHF 1.00 = EUR 0.75 / CHF 1.00 = USD 0.98
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Autumn Semester Application Deadline Start of Semester Mid-semester Break End of Semester Exams
April 30 Calendar week 38 Calendar weeks 44/45 Calendar week 51 Calendar weeks 37
Spring Semester
November 30 Calendar week 8 Calendar weeks 14/15 Calendar week 21 Calendar weeks 2529
Application Process
Applicants will have to fill in an online form and send various documents to the Admissions and Crediting Office of the University of St.Gallen. You can find the online form and all the necessary information under www.admissions.unisg.ch The online form can only be filled in during the application time windows. Application Time Frame: to start in September (Autumn Semester): 1 February to 30 April of the current year to start in February (Spring Semester): 1 September to 30 November of the preceding year
2. If you are unsure that you satisfy the admission criteria for a degree course at the University of St.Gallen, please send your certificates and an overview of your previous subjects/majors to the Admissions and Crediting Office for a pre-check by E-Mail: admissions@unisg.ch. This Office will establish whether you possess the necessary academic background. 3. If the Admissions and Crediting Office gives you a positive reply, you should sit an international test and possibly a language test if you have not done so already. You must submit the results of these tests by the end of the application deadline. 4. Apply online for the course in good time. During this process you will be told what documents you have to submit. Prepare these documents, send them to us, and pay your application fee. Once you have done that, you have completed the application for a degree course at the University of St.Gallen. If your application is accepted, you may take up your studies at the beginning of the following semester.
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Accreditations
The University of St.Gallen is committed to maintaining its high standard of education, which is internationally recognised, as well as its excellent quality of service on campus - these two aspects are considered to be ongoing for the HSG. It is for this reason that the HSG has introduced comprehensive measures of quality assurance and development. It also subjects itself to the scrutiny of the highest international quality standards by independent experts for the purpose of accreditations. Thus the HSG has earned the EQUIS (2001) and AACSB (2003) accreditations and consequently has obtained the two most demanding international seals of approval for business schools.
CHE Ranking
Excellence Ranking Economics Masters Programmes Business administration: top group in European, German-speaking countries Economics: top group in European, German-speaking countries International relations: top group in European, German-speaking countries
EQUIS
The European Quality Improvement System (EQUIS) is a seal of approval that has been awarded by the Foundation for Management Development (EFMD, Brussels) ever since 1997 to institutions that meet its standards of quality. These standards include general criteria such as national ranking and resources, internationality and links to the business world.
Handelsblatt Ranking
Business research: 2nd place in European, German-speaking countries Economics research: 8th place in European, German-speaking countries www.rankings.unisg.ch
AASCB
The International Association to Advance Collegiate Schools of Business (AACSB International) was founded in 1916 as a special agency designed to advance B.A. and M.A. programmes. Besides leading American business schools, the best international business schools have also been granted accreditation since 1997. www.quality.unisg.ch
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Useful Weblinks
Studying in Switzerland
www.swissuniversity.ch www.crus.ch www.eda.admin.ch www.sbf.admin.ch www.swissworld.org
This brochure contains information about the four English-language Masters Programmes of the University of St.Gallen (HSG). Please consult our website for information about the German-language Masters Programmes, as well for information about the Bachelors Level, the Ph.D. Programmes and the Executive School. The relevant brochures can also be ordered on or downloaded from our website.
University of St.Gallen (HSG) 2010: The information in this publication is correct as of Sept. 2010, but the University of St.Gallen reserves the right to make changes affecting policies, fees, curricula, or any other matter announced in this publication without further notice. Editorial office: Marketing and Communication. Photos: Hannes Thalmann, University of St.Gallen.
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General Questions
University of St.Gallen (HSG) Office of Students Affairs Dufourstrasse 50 9000 St.Gallen Switzerland www.unisg.ch E-Mail: info@unisg.ch Phone: +41 (0)71 224 21 12
International Exchange
www.exchange.unisg.ch E-Mail: exchange@unisg.ch