Structure & Calendar

To prepare to access to the MCF, three Online Pre-courses are recommended for those who do not have a strong academic foundation in Economics and Finance:

- Accounting
- Quantitative Methods
- Economics

They are designed to allow all the participants to begin the program at the required common level of understanding of the key methods and concepts that will be applied during the program. All of the three online pre-courses are strongly recommended.

A test for each pre-course is compulsory for all participants after the pre-course phase, on the first day of class, no matter whether or not they purchased the pre-courses.
Those that fail one (or more) of these tests will be required to attend the Classroom Pillars and then take the related pass/fail Pillars Exams. Those that pass the tests will not be required to take the pass/fail Pillars Exams.

Six courses to develop financial knowledge, models and tools. Participants must attend all courses and take compulsory exams on all 6 courses.

1. Financial Analysis:

• Financial Statement analysis
• Financial ratios
• Ex-ante and ex-post cash flows
• Working capital management
• Key tools in financial programming and planning 

2. Financial Management:

• Capital Budgeting and Investment Analysis
• Cost of Equity Capital
• Cost of Debt
• Capital Structure

3. Capital Markets:

• Capital Market Main Features
• Issuing Equity Securities
• The IPO Process
• The Bond Issuing Process
• Derivatives

4. Corporate Valuation:

• Basic Principles in Valuation
• Discounted Cash Flow
• DDM and other Techniques
• Relative Valuation Approaches
• Valuation for M&As

5. Mergers & Acquisitions:

• The Intersection of Strategy and Finance
• Using M&As to Grow, Reconfigure or Harvest
• Designing and Implementing M&A Deals
• VC and LBOs
• Corporate Restructuring

6. Quantitative Methods:

• Statistics review
• Linear Regression
• Time series forecasting
• What if analysis
• Monte Carlo simulation

1. Real Estate Finance: The objective of this course is to introduce the participants to the Real Estate market explaining the key rules, the compensation mechanisms and the role of the main players.
2. Project Finance: This advanced course focuses on understanding the main features, advantages and limits of project finance in realizing infrastructure investment projects.
3. Behavioral Issues in Valuation: The course is aimed at familiarizing students on how behavioral issues may affect valuation and even lead to some counter-intuitive results.
4. Corporate Financial Policies: A practical course designed to prepare students to analyse financial policies and to "read" the behaviour of debt capital markets, both in terms of the capital structure design and dividend policies.
5. Fixed Income & Credit Markets: A course focused on fixed-income markets, investing and treasury management, based on the discussion of case studies and current issues affecting the fixed income markets and its participants, both corporate and financials.
6. Economics: This course covers the macroeconomics of national and international financial markets emphasizing the current hot topics in the European economic policy discussions.
7. Finance Function, Value Creation and Corporate Governance: A course designated to get students acquainted with the function, the organization and the role of the Finance, Administration and Control Department and the CFO in large companies and groups, and their contribution to the value creation process".
8. Negotiation & Leadership: The course aims to prepare students to effective negotiation techniques through rational and persuasion approach and to acknowledge the key elements of leadership through simulations.

1. Ethics, Leadership and Communication (ELC): A course focused on the "soft skills" such as communication and leadership to allow MCF participants to use the hard science of analysis and data with clear and effective thinking and communication. The goal is to create a manager who has hard skills and competencies together with strong and well developed soft skills.
2. Financial Databases: A course on Datastream Advance and Bloomberg designed to provide students with the ability to query and retrieve financial information, and to assess its reliability and meaning.
3. Excel & Powerpoint Course.

Participants must attend all seminars and take compulsory exams on 10 out of 10 of the following Seminars.

1. Equity Derivatives for Corporates (Credit Suisse)
2. Leveraged Finance (Unicredit)
3. Asset Management for Corporates (Generali)
4. Private Equity (NCP)
5. Crisis Restructuring (Pieroni-Cenciarini)
6. Hedge Funds (Lucchini)
7. Financial Modelling Techniques for Corporates (Poli)
8. Entrepreneurial Finance (Etro-Dell’Acqua)
9. Financial Performance Measurement (Dossi)
10. Corporate Social Responsibilities