Student Handbook 2018 Master of Science in Finance (MSF) is one of the two master’s programs under the umbrella of the Department of Banking and Finance, Business School, Chulalongkorn University. The program was established in October 1996 in response to rapid changes in both the domestic and international financial markets. Over the past two decades, the curriculum has been under constant revision to keep the MSF Program full of innovation, academic rigor, and new challenges. Our excellence is confirmed by the EFMD’s EPAS initial 3-year accreditation granted in early 2015 and 5-year re-accreditation in 2018

The MSF Program offers graduate students the latest advanced knowledge in the field of finance. The program’s lecturing staff consists of Chulalongkorn University’s own faculty and experts in the financial services industry. Students admitted to the Program will be provided with cutting-edge knowledge and facilities. Upon completion of the course, students will be able to work throughout the financial services fields, such as corporate treasury, banks, investment banks, and other financial institutions.

This handbook provides you with information on the nature and structure of the MSF Program. It covers program details, course list, course structure, graduation requirements, teaching calendar, teaching and administrative arrangement; as well as, regulations and policies. It also contains information about student support services, department and university facilities; as well as, student exchange opportunities. The handbook will help guide you through some of the day-to-day issues involved during your study.

2 MSF | Chulalongkorn University 4 MSF | Chulalongkorn University MSF | Chulalongkorn University 5 Message from the Program’s director

I would like to welcome you to our Master of Science in Program Finance (MSF) Program, the first and finest Master Program in finance in . Since established in 1996, the MSF Program has been producing high quality graduates to Objectives the finance industry and business world. We are proud to see many of our MSF graduates become leaders in global finance firms and major corporations. With A-list faculty Master of Science in Finance Program at members recruited from world-renowned universities, together with visiting professors from top universities around Chulalongkorn Business School strives to the world and leading practitioners from various fields of finance, our program continues to provide students with produce graduates with high proficiency in areas comprehensive finance education, providing a unique blend of finance. Graduates from the Program will be of academic theories, practical applications, and the latest cutting-edge knowledge. well equipped with both academic theories and MSF Program is granted the EPAS accreditation by the applications in various fields of finance. internationally-recognized accreditation body EFMD, and Chulalongkorn Business School is awarded the world-class accreditation AACSB. This is solid proof of our highest standard of teaching and research quality, and we will continue to play an active role and strive for excellence in the global stage.

We look forward to having you as part of our MSF family. We are certain that the time you spend with us in our MSF Program will prove to be one of your most rewarding times.

Asst. Prof. Anirut Pisedtasalasai (Ph.D.) MSF Program Director

MSF | Chulalongkorn University 7 Program Committee Faculty Members

Assoc. Prof. Manapol Ekkayokkaya (Ph.D.) University of Durham Assoc. Prof. Thaisiri Watewai (Ph.D.) University of California, Berkeley Assoc. Prof. Thanyaluk Vichitsarawong (Ph.D.) Oklahoma State University Assoc. Prof. Vimut Vanitcharearnthum (Ph.D.) University of Chicago Asst. Prof. Anirut Pisedtasalasai (Ph.D.) University of Exeter, MSF Program Director Asst. Prof. J. Thomas Connelly (Ph.D.) College of Management Asst. Prof. Kanis Saengchote (Ph.D.) Northwestern University – Kellogg School of Management Asst. Prof. Tanakorn Likitapiwat Jananya Sthienchoak Asst. Prof. Pornpitchaya Narapong Srivisal (Ph.D.) (Ph.D.) Kuwalairat (Ph.D.) (Ph.D.) Asst. Prof. Natchanont Komutputipong (Ph.D.) Lancaster University Associate Director Associate Director Associate Director Associate Director Asst. Prof. Pornpitchaya Kuwalairat (Ph.D.) Oklahoma State University Asst. Prof. Ruttachai Seelajaroen (Ph.D.) Australian National University Asst. Prof. Sira Suchintabandid (Ph.D.) Columbia University Asst. Prof. Tanakorn Likitapiwat (Ph.D.) University of Memphis Asst. Prof. Visarut Sribunnak (Ph.D.) University of California, Berkeley Anant Chiarawongse (Ph.D.) University of Chicago Narapong Srivisal (Ph.D.) University of Chicago Peerapong Dhangwatnotai (Ph.D.) Stanford University

Asst. Prof. Nathridee Asst. Prof. Ruttachai Seelajaroen Roongkiat Ratanabanchuen (Ph.D.) London School of Economics Suppakitjarak (Ph.D.) (Ph.D.) (Ph.D.) Committee Committee and Secretary Suparatana Tanthanongsakkun Australian National University Tanawit Sae-Sue (Ph.D.) Carnegie Mellon University

Supporting Staff Visiting Professors

Prof. Christian C.P. Wolff (Ph.D.) Research Professor, Luxembourg School of Finanace (Luxembourg) Prof. Jurgen Huber (Ph.D.) Professor of Finance, University of Innsbruck (Austria) Prof. Krishna N. Paudyal (Ph.D.) Professor of Finance, University of Strathclyde (UK) Prof. Nuttawat Visaltanachoti (Ph.D.) Professor of Finance, Massey University (New Zealand) (Ph.D.) Chanthima Boonthueng (Pla) Alisa Khuarunyasunthon (Bee) Titipron Duangthong (Eve) Prof. Paul H. Malatesta Norman J. Metcalfe Faculty Fellow in Finance, University of Washington (USA) General Administrator General Administrator General Administrator Prof. Phil R. Holmes (Ph.D.) Professor of Finance, University of Leeds (UK) [email protected] [email protected] [email protected] Prof. Russell R. Wermers (Ph.D.) Professor of Finance, University of Maryland at College Park (USA) Prof. Steen Thomsen (Ph.D.) Professor and Chairman of the Center for Corporate Governance, Copenhagen Business School (Denmark)

MSF | Chulalongkorn University 9 COURSE LIST Core Courses Program of study Plan A 16 credits Plan B 16 credits

Master of Science in Finance (MSF) offers two different Full-time program Both Plan A and Plan B students must enroll all following core courses. programs: Full-time and Flexible programs. The Full-time 2604639 Finance Theories 3 (3-0-9) program is a one-year program while Flexible program – – Study on Monday Friday (9.00 16.00) 2604643 Derivatives and Risk Management 3 (3-0-9) is two-year program. Students in both programs have and (depending on the availability of individual lecturers) two options to choose: Plan A (Thesis option) and Plan on Saturday – Sunday (9.00 – 17.00) 2604647 Financial Statement Analysis 3 (3-0-9) B (Special project option). Students who have less than 2604674 Financial Econometrics 3 (3-0-9) one-year work experience are compulsory to choose 2604680 Ethics in Finance 1 (1-0-3) Plan A and to enroll in Full-time program according to Flexible program the Chulalongkorn University guideline. Students who 2604697 Financial Markets, Institutions, and Instruments 3 (3-0-9) have more than one year work experience can choose Study on Saturday – Sunday (9.00 – 17.00) either Plan A or Plan B and can enroll in either Full-time or and (depending on the availability of individual lecturers) Flexible program. on Monday – Friday (18.00 – 21.00) Elective Courses Plan A 8 credits

The class schedule of each course will be announced on the MSF Program’s Plan B 14 credits Plan A - Thesis option website (http://msfin.acc.chula.ac.th/) and in front of the classroom. The class schedule is subject to change due to the needs of both instructor and Plan A students must enroll the below elective courses for at least 8 credits and for Plan B students 14 credits. students. Please always check the class schedule. This plan is available in both the Full-time and Flexible 2604662 Alternatives and Innovations in Investment 2 (2-0-6) programs. Students who have less than one year work experience are required to enroll in this plan according 2604663 Corporate Finance 2 (2-0-6) to the Chulalongkorn University guideline. The study The MSF Program requires 36 credit hours 2604664 Strategic Portfolio Management 2 (2-0-6) plan consists of 24 credits of coursework and a thesis to complete and the maximum study period 2604665 Portfolio Performance Evaluation and Attribution 2 (2-0-6) research project (a total of 12 credit hours over two of both full-time program and flexible terms). Students who choose this option are required to 2604666 Foundations of Behavioral Finance 2 (2-0-6) submit their thesis proposal and get approval within program is 4 years. 2604667 Market Microstructure 2 (2-0-6) 2 years otherwise the students’ status would be 2604668 Corporate Governance and Compliance 2 (2-0-6) terminated. Credit requirements in both Plan A and 2604669 Selected Topics in Risk Management 2 (2-0-6) Plan B are depicted below. 2604670 Equity Analysis and Valuation 2 (2-0-6) Plan B - Special project option 2604678 Macro Issues in Finance 2 (2-0-6)

This plan is available in both Full-time and Flexible Program Structure Plan A Plan B 2604687 Financial Programming 2 (2-0-6) programs. Students must have at least one year of 2604688 Financial Engineering 2 (2-0-6) work experience to be eligible for this plan. The plan Total required credits 36 36 consists of 30 credits of coursework, a research project 2604690 Fixed Income Securities 2 (2-0-6) (totaling 6-credit hours over two academic terms) and Coursework credits 24 30 2604692 Special Topics in Finance 2 (2-0-6) a comprehensive examination (in the term following the 2604694 Emerging Capital Markets 2 (2-0-6) completion of coursework and the research project). n core course credits 16 16 2604695 Financial Risk Management for Pension Plans 2 (2-0-6) All MSF Program courses are taught in English. The n elective course credits 8 14 2604696 Practical Corporate Financial Modeling 2 (2-0-6) Program operates on a trimester basis (three terms per one academic year). Each term is 4 months long. Term 1 Thesis credits 12 - is August-November, Term 2 December-March and Term Thesis 3 April-July. Classes of the Full-time program and the Special research project credits - 6 for Plan A 12 credits Flexible program are arranged differently as follow. 2604811 Thesis 12 credits

Tuition and Preterm Course Program Tuition Graduate College Fees Graduate College Fees Special project Fees (Up to 5 courses) (Thai Citizen) (Non-Thai Citizen) for Plan B 6 credits

80,000 Full-Time Program 15,000 baht/course 91,000 baht/term 23,000 baht/term 2604711 Special Project I 3(0-0-12) baht/term 2604712 Special Project II 3(0-0-12) 80,000 Flexible Program 15,000 baht/course 46,000 baht/term 23,000 baht/term baht/term Note: A(X-Y-Z) is the structure of credits in each course. “A” stands for the number of credits of that course. “X” is the number of lecture hours, “Y” is the number of laboratory hours and “Z” is the number of self-study hours.

MSF | Chulalongkorn University 11 Study Track for Full-Time Program (Plan A) Course-Term Offered for Full-Time Program Plan A (Thesis) Term 1 Term 2 Term 3 Total Track Term 1 Term 2 Term 3 Courses 1. Corporate Core Courses Corporate Governance and Corporate Finance - Core 13 3 16 Finance Compliance - Track 4 2 6 Practical Corporate Financial Modelling - Elective 2 2 Thesis 3 9 12 2. Asset Core Courses Equity Analysis Strategic Portfolio Management and Valuation Management 36 and Investment Portfolio Performance Evaluation and Attribution Study Track for Full-Time Program (Plan B) Plan B (Special Project) Term 1 Term 2 Term 3 Total Courses 3. Risk Core Courses Financial Programming Selected Topics in Risk Management Management - Core 13 3 16 - Track 4* or 2** 2* or 4** 6 Financial Risk Management for - Elective 2* or 4** 6* or 4** 8 Pension Plans Special Project 3 3 6 Comprehensive Exam S/U 36 Course-Term Offered for Flexible Program 36 * For Corporate Finance Track Year 1 Year 2 **For Other Tracks Track Term 1 Term 2 Term 3 Term 4 Term 5 Term 6 Study Track for Flexible Program 1. Corporate Core Courses Core Courses Corporate - Practical - Plan B Term 1 Term 2 Term 3 Term 4 Term 5 Term 6 Total Finance Finance Corporate Financial Courses Modelling - Core 7 6 3 16 Corporate - Track 6 Governance Corporate Finance 2 4 and Compliance Asset Management and 4 2 Investment 2 . A s s e t Core Courses Core Courses - Equity - Portfolio Management Analysis Performance Risk Management 2 2 2 and and Valuation Evaluation - Elective 8 Investment and Strategic Attribution Corporate Finance 2 4 2 Portfolio Asset Management and 4 4 Management Investment Risk Management 2 4 2 3. Risk Core Courses Core Courses Financial Risk - Financial Selected Management Management Programming Topics Special Project 3 3 6 for in Risk Comprehensive Exam S/U Pension Plans Management 36

Note: The numbers shown in the tables are the credit hours Flexible Program students normally choose to study in Plan B.

MSF | Chulalongkorn University 13 COURSE DESCRIPTION 2604674 Financial Econometrics 3(3-0-9) FIN ECONOMETRICS Statistical techniques and econometrics for financial research; linear regression analysis; hypothesis testing; large sample 2604639 Finance Theories 3 (3-0-9) statistical theory; relaxing assumptions of classical linear regression models; univariate time series analysis. FINANCE THEORIES Financial theories related to investment and consumption decisions under certainty and uncertainty; risk preferences; 2604678 Macro Issues in Finance 2(2-0-6) application of expected utility theory in investment analysis; perfect asset markets; complete asset markets; portfolio MACRO ISS FIN theories; asset pricing theories; analysis of key corporate finance issues; capital structure; dividend policy; ownership Financial system and institutions; aggregate demand and supply; money creation; roles of expectation on markets and structure; asymmetric information policy; monetary and fiscal policies; economic indicators. 2604680 Ethics in Finance 1(1-0-3) 2604643 Derivatives and Risk Management 3(3-0-9) ETHIC FIN DERIV RISK MGT Code of ethics; standards of professional conduct; ethics in the investment profession. Derivative markets; options and trading strategies; option pricing models; option price sensitivities; futures and trading strategies; swaps; forward rate agreements; interest rate options; value at risk (VaR) approaches; real options. 2604687 Financial Programming 2(2-0-6) FIN PROG 2604647 Financial Statement Analysis 3(3-0-9) Introduction to programming; data manipulation techniques; software project management; spreadsheet application. FIN STATEMENT ANAL Techniques for financial statement analysis and their interpretation for decision making; uses of financial statement 2604688 Financial Engineering 2(2-0-6) information in practices; demand and supply of financial statement information; quality of financial statement information; FIN ENG credit analysis; security analysis; risk analysis; corporate valuation. Financial modeling; portfolio optimization; exotic derivatives; structured products; simulation and numerical methods for derivative valuation; financial innovation; cases in financial engineering. 2604662 Alternatives and Innovations in Investment 2(2-0-6) ALT INNOVATION INV 2604690 Fixed Income Securities 2(2-0-6) Alternative investment strategies: hedge funds, real estate, and private equity; risk-return characteristics of various FIX INC SEC alternative investments; use of alternative investments to enhance portfolio risk-return trade offs. Fixed income securities and markets; bond valuation; risk measurement of bonds; term structure of interest rate; yield curve fitting; bond portfolio management; interest rate derivatives. 2604663 Corporate Finance 2(2-0-6) CORP FIN 2604692 Special Topics in Finance 2 (2-0-6) Condition: Prerequisite 2604631 and 2604632 SPEC TOP FIN Initial public offerings; seasoned equity offerings; rights offerings; private placement of equity; debt offerings; convertible Financial planning and assessment of financing needs; cost of capital estimation and capital budgeting; weighted average debt; venture capital financing; mergers and acquisitions; corporate diversification; securities market regulations and cost of capital model; adjusted present value model; corporate financial decisions and their impact on firm valuation corporate governance; event-study methodology. 2604694 Emerging Capital Markets 2 (2-0-6) 2604664 Strategic Portfolio Management 2(2-0-6) Emerg Cap Mkt STRAT PORT MGT Development of emerging capital markets; cross-border capital flows; governance and regulations; valuation challenge in Concepts, process and construction of investment portfolios; portfolio management strategies and diversification; portfolio emerging markets; risk analysis and assessment; issues in emerging equity and bond markets. performance evaluation; portfolio management for individual and institutional investors; asset allocation. 2604695 Financial Risk Management for Pension Plans 2 (2-0-6) 2604665 Portfolio Performance Evaluation and Attribution 2(2-0-6) FIN RISK MGT PEN PORT PERF ATTR Condition: Prerequisite 2604631 or 2604639 Basic and advanced portfolio performance evaluation models; applications of performance evaluation and attribution Fundamentals of pension plans; pension plan valuation concepts; pension funding concepts; solvency concepts; asset techniques; measuring portfolio performance without knowledge of the proper model; measuring market timing; measuring and liabilities management of pension funds; optimal asset allocation and risk management for pension plans; capital hedge fund performance. requirements and economic capital.

2604666 Foundations of Behavioral Finance 2(2-0-6) 2604696 Practical Corporate Financial Modeling 2 (2-0-6) FDN BEHAV FIN PRAC CORP FIN MOD Theoretical foundations of behavioral finance; overconfidence; representative heuristic; attribution theory; anchoring; Condition: Prerequisite (2604631 and 2604632) or 2604639 prospect theory; limits to arbitrage; market anomalies; corporate behavior. Financial planning and assessment of financing needs; cost of capital estimation and capital budgeting; discounted cash flow valuation model; weighted average cost of capital; adjusted present value model; corporate financial decisions and 2604667 Market Microstructure 2(2-0-6) their impact on firm valuation\ MKT MICROSTRUC Market microstructure models; order types; order submission strategies; trader types; behavior of informed traders; 2604697 Financial Markets, Institutions, and Instruments 3 (3-0-9) probability of informed trading; price discovery; origins of liquidity and volatility; transaction cost measurement. Fin Mkt Inst Instr Roles of financial markets; structure of financial markets: money and capital markets; primary and secondary markets; 2604668 Corporate Governance and Compliance 2(2-0-6) types and roles of various financial institutions in intermediation process; determination of interest rates; roles of regulators; CORP GOV COMPL central banks; commercial banks; money supply process; debt markets; equity markets; foreign exchange markets; Corporate governance; compliance and other related issues; strategic compliance management; integration of corporate financial instruments; efficient market hypothesis; financial markets in international context. governance, risk management and compliance.

2604669 Selected Topics in Risk Management 2(2-0-6) 2604711 Special Project I 3(0-0-12) SEL TOP RISK MGT SPECIAL PROJECT I Condition: Prerequisite 2604643 Research in finance topics; presenting the proposal. Advanced tools of financial risk management; credit derivatives; credit risk modeling; credit scoring; option-based models; credit migration models; reduced form models; applications of risk management for financial institutions; developments and 2604712 Special Project II 3(0-0-12) current issues in risk management. SPECIAL PROJECT II Condition: Prerequisite 2604711 or by consent of the faculty 2604670 Equity Analysis and Valuation 2(2-0-6) Completing the proposed research topic; presenting the research result. EQUITY ANAL VAL Market efficiency and valuation; discounted cash flow valuation; relative valuation; residual income valuation and economic 2604811 Thesis (THESIS) 12 credits value added; option application for stock valuation; technical analysis. 2604896 Comprehensive Exam

MSF | Chulalongkorn University 15 COURSE STRUCTURE Full-Time Program (1-year program) Plan A (Thesis option) Plan B (Special project option) Term 1 Term 1 Course Code Course Title Required Elective Credits Course Code Course Title Required Elective Credits 2604639 Finance Theories • 3 2604639 Finance Theories • 3 2604647 Financial Statement Analysis • 3 2604647 Financial Statement Analysis • 3 2604674 Financial Econometrics • 3 2604674 Financial Econometrics • 3 2604680 Ethics in Finance • 1 2604680 Ethics in Finance • 1 2604697 Financial Markets, Institutions, and Instruments • 3 2604697 Financial Markets, Institutions, and Instruments • 3

Term 2 Term 2

Course Code Course Title Required Elective Credits Course Code Course Title Required Elective Credits 2604643 Derivatives and Risk Management • 3 2604643 Derivatives and Risk Management • 2 2604811 Thesis • 3 2604711 Special Project I • 3 Select 3 elective courses Select 3 elective courses 2604662 Alternative and Innovations in Investment • 2 2604662 Alternative and Innovations in Investment • 2 2604667 Market Microstructure • 2 2604667 Market Microstructure • 2 2604668 Corporate Governance and Compliance • 2 2604668 Corporate Governance and Compliance • 2 2604670 Equity Analysis and Valuation • 2 2604670 Equity Analysis and Valuation • 2 2604678 Macro Issues in Finance • 2 2604678 Macro Issues in Finance • 2 2604687 Financial Programming • 2 2604687 Financial Programming • 2 2604690 Fixed Income Securities • 2 2604690 Fixed Income Securities • 2 2604692 Special Topics in Finance • 2 2604692 Special Topics in Finance • 2 2604694 Emerging Capital Markets • 2 2604694 Emerging Capital Markets • 2 2604696 Practical Corporate Financial Modeling • 2 2604696 Practical Corporate Financial Modeling • 2

Term 3 Term 3 Course Code Course Title Required Elective Credits Course Code Course Title Required Elective Credits 2604811 Thesis • 9 2604712 Special Project II • 3 Select 1 elective course Select 4 elective courses 2604663 Corporate Finance • 2 2604663 Corporate Finance • 2 2604664 Strategic Portfolio Management • 2 2604664 Strategic Portfolio Management • 2 2604665 Portfolio Performance Evaluation and Attribution • 2 2604665 Portfolio Performance Evaluation and Attribution • 2 2604666 Foundations of Behavioral Finance • 2 2604666 Foundations of Behavioral Finance • 2 2604669 Selected Topics in Risk Management • 2 2604669 Selected Topics in Risk Management • 2 2604692 Selected Topics in Finance • 2 2604692 Selected Topics in Finance • 2 2604695 Financial Risk Management for Pension Plans • 2 2604695 Financial Risk Management for Pension Plans • 2

MSF | Chulalongkorn University 17 Flexible Program (2-year program) Plan B (Special project option)

Year 1 Term 1 Year 2 Term 2 Course Code Course Title Required Elective Credits Course Code Course Title Required Elective Credits 2604639 Finance Theories • 3 2604711 Special Project I • 3 2604680 Ethics in Finance • 1 Select 2 elective courses 2604697 Financial Markets, Institutions, and Instruments • 3 2604662 Alternative and Innovation in Investment • 2 2604667 Market Microstructure • 2

Year 1 Term 2 2604668 Corporate Governance and Compliance • 2 Course Code Course Title Required Elective Credits 2604670 Equity Analysis and Valuation • 2 2604647 Financial Statement Analysis • 3 2604678 Macro Issues in Finance • 2 2604674 Financial Econometrics • 3 2604687 Financial Programming • 2 2604690 Fixed Income Securities • 2 2604692 Special Topics in Finance • 2 Year 1 Term 3 2604694 Emerging Capital Markets • 2 Course Code Course Title Required Elective Credits 2604696 Practical Corporate Financial Modeling • 2 2604643 Derivatives and Risk Management • 3 Select 2 elective courses

2604663 Corporate Finance • 2 Year 2 Term 3 2604664 Strategic Portfolio Management • 2 Course Code Course Title Required Elective Credits 2604665 Portfolio Performance Evaluation and Attribution • 2 2604712 Special Project II • 3 2604666 Foundations of Behavioral Finance • 2 Select 1 elective courses 2604669 Selected Topics in Risk Management • 2 2604663 Corporate Finance • 2 2604687 Financial Programming • 2 2604664 Strategic Portfolio Management • 2 2604692 Selected Topics in Finance • 2 2604665 Portfolio Performance Evaluation and Attribution • 2 2604695 Financial Risk Management for Pension Plans • 2 2604666 Foundations of Behavioral Finance • 2 2604669 Selected Topics in Risk Management • 2 Year 2 Term 1 2604688 Financial Engineering • 2 Course Code Course Title Required Elective Credits 2604692 Selected Topics in Finance • 2 Select 2 elective courses 2604695 Financial Risk Management for Pension Plans • 2 2604664 Strategic Portfolio Management • 2 2604670 Equity Analysis and Valuation • 2 2604692 Selected Topics in Finance • 2

MSF | Chulalongkorn University 19 Calendar 2018 Administrative ArraNgement Term 1 (August - November 2018) First day of classes Tuesday 14 August 2018 Midterm Examinations (if any) Monday 1 October - Friday 5 October, 2018 & Regulations Last day of classes Friday 23 November 2018 Final Examinations Monday 26 November - Friday 30 November 2018 Close of first term Saturday 1 December 2018 Administrative Arrangement Attendance

Term 2 (December 2018 - March 2019) The MSF Program is run by the Program Class attendance is compulsory. Attendance of at First day of classes Tuesday 11 December 2018 Committee, with Asst. Prof. Anirut Pisedtasalasai least 80% of the total class hours (per course) is (Ph.D.) as the Program Director. The Program required by the university’s rules and regulations. Midterm Examinations (if any) Monday 28 January - Friday 1 February 2019 Committee is primarily responsible for the Attendance will be checked and recorded in every Last day of classes Friday 22 March 2019 administration and delivery of the courses. The class session. An extended period of absenteeism Committee is keen to do everything possible to could result in a termination of the student’s Final Examinations Monday 25 March - Friday 29 March 2019 make your study period at MSF academically enrollment in the course. For exchange students, Close of second term Saturday 30 March 2019 fruitful and enjoyable with the excellent mental and frequent or chronic absence will be reported to physical environment. their home university. Students should consult their instructor if they need to be absent in some sessions. Term 3 (April - July 2019) If you need any information or have difficulties, you can Whether class attendance will be taken into account First day of classes Tuesday 9 April 2019 contact our supporting staff any time. As for consulting in the course assessment or not totally depends about the study that is beyond our supporting staff’s on the instructor and will be explicitly declared in Midterm Examinations (if any) Monday 27 May - Friday 31 May 2019 judgment, the Program Committee members are ready the syllabus. See each course syllabus for further Last day of classes Friday 19 July 2019 to discuss any issue related to your studies including information. academic guidance. Final Examinations Monday 22 July - Friday 26 July 2019 Close of third term Saturday 27 July 2019 The MSF Program’s supporting staff is always Regulations available at the program office, th10 Floor, Mahitaladhibesra Building, on Monday to Friday, 8.30 All graduate students must comply with Chulalongkorn Last Day of Academic Year Friday 9 August 2019 – 17.00. When there is an evening class, the staff is University Graduate Studies Regulations, 2008. present until 21.00. On weekends in which a class Details of the Regulations as well as other related for the flexible program is conducted, the staff will be notifications can be downloaded from the website of around to facilitate the teaching until the class ends. the Graduate School (http://www.grad.chula.ac.th/ eng/academic-regulations).

Regarding examinations, students need to comply Graduate School Office The Office of the Registrar with Chulalongkorn University Regulation on the (Building No.8 in the Map) (Building No.5 in the Map) Means of Conduct for Students in an Examination B.E. 2525 (1982 A.D.). Please refer to MSF’s Apart from the MSF Program office that you will be The Office of the Registrar is one of the website for the full document. mostly in contact with, the Graduate School Office is places you would visit periodically even after another destination that you need to visit from time your graduation. All issuance of transcripts, The Graduate School Office also put guidelines about to time especially when you are engaged with the certificate of enrollment and other important course registration, status maintenance, and graduation thesis submission. Detailed information about the request on the Graduate Student Handbook available documents will be exclusively done through scholarships for graduate students is also available for all newly enrolled students or students can also there. The Office is located independently behind this office. You may be asked to visit the download a soft copy from the Graduate School the Office of the Registrar’s building. To facilitate Office if you are involved with late registration Office’s website (www.grad.chula.ac.th). nd all graduate students, a one-stop-service booth is and so on. The Office is located on the 2 situated on the first floor. floor of Chamchuri 5 Building.

MSF | Chulalongkorn University 21 Assessment

The form of assessment varies from course to course and is specified in the course syllabus provided in the first class of the course. Assessment of each course is usually composed of various methods ranging from class attendance and participation, test or quiz, assignment, term paper, and examination.

Assessment Methods Marking Scheme Comprehensive Examination

*The assessment method of a course covers various all cases a medical certificate will be required for any The marking scheme which is used to assess all The comprehensive examination, which is one of assessment aspects depending on its learning absence from the mid-term examination and the final submitted work and examinations depends on the graduation requirements for students of Plan objectives. The written examination is commonly examination. You may arrange to see the campus doctor the lecturer. For example, it may be based on B in the Full-Time program and students in the employed by almost all courses to assess students’ for treatment and a medical certificate at the CU Health definite mark ranges, for instance, “A” for 90-100% Flexible program, consists of 4 subjects: Derivatives understanding of the course materials. In addition, Service Center, 2nd fl., Chamchuri 9 Building (Building scores; or, grading on a curve, say, “A” for the and Risk Management; Financial Econometrics; some courses require students to do term paper, No.48 in the map), free of charge. In more extreme best performing group of students in the class. Financial Markets, Institutions, and Instruments; and assignments, homework, project (individual/group) cases, you can go directly to Chulalongkorn Hospital on Nevertheless, the MSF program strives to provide Finance Theories. Students must choose to answer in order to evaluate students on problem solving the corner of Henry Dunant Road and Rama 4 Road. an appropriate feedback to students as per their the questions from 3 out of 4 subjects. If students skill, analytical skill, or other skills suitable to the study performance. The general definition of grading answer more than 3 subjects, the subject in which the learning objectives of the course. Students are also letters used by the Program is as follows. student receives the highest score will be dropped encouraged to participate in the class activities in order Assignments from consideration. To obtain the S (Satisfactory) to show their corresponding or presentation skills, thus grade in the comprehensive exam, students must some courses also give scores on class participation If a class requires an assignment to be handed in, it receive a Pass grade from at least 2 subjects. The as part of the course assessment scores. The detail should be submitted directly to the instructor by the comprehensive examination is arranged once a information of assessment methods will be provided in date predetermined. A failure to meet the assignment Performance Grade term around the 12th week of each term. The exam the course syllabus. deadline may result in a lower grade or students may schedule will be announced at the beginning of the be required to submit a new assignment. Computer Outstanding A academic year. problems such as file loss due to virus infection cannot Examination be considered an acceptable explanation for missing the Excellent B+ submission deadline. The examination, whether it is a mid-term examination Very good B or a final examination, is normally 3 hours long for a 3-credit course and 2 hours long for a 2-credit course. Plagiarism [YOU MUST READ THIS Good C+ For full-time program courses, a final examination is certain but availability of mid-term exam depends SECTION] Satisfactory C on the instructor. For flexible program courses, the instructor tends to assess students on class participation Plagiarism is basically the presentation of someone else’s Moderate D+ (discussion), assignments and term papers instead of a work as your own work. It has become a very serious final examination. problem in universities all over the world. Whether it is Marginal D an assignment, term paper, special project or thesis, Rules and regulations on examination must be strictly plagiarism is unacceptable and students found guilty on Fail F followed. Students must follow the Chulalongkorn academic plagiarism may result in “F” grade or may be University Regulation on the Means of Conduct for required to withdraw from the course. In the extreme Students in an Examination B.E. 2525 (1982 A.D.) case, it may result in dismissal from the Program.

With Turnitin program, the thesis or special project’s Medical Absences originality will be checked through its plagiarism detection function. Check Turnitin’s guidline at If you feel unwell and are unable to attend a class www.car.chula.ac.th/gotoweb/GuideTiiMay2011.pdf. test or examination, you must inform your instructor immediately or contact our supporting staff as early More information on plagiarism is available at as you can before the test or examination starts. In www.grad.chula.ac.th/download/files/Plagiarism.pdf.

MSF | Chulalongkorn University 23 Student Exchange Student Life opportunities University life can give you wonderful and pleasant social experiences. University friendship can last long for your whole life. Apart from the time you study together inside Outbound program and then contact the University’s Office of and outside class, you can spend time doing off-curricular activities and some other International Affairs (www.inter.chula.ac.th) (Building During their study period, students can take advantage No.1 in the Map). leisure with your friends at the facilities that the Department and the University provide. of being a student of the Chulalongkorn Business School, Chulalongkorn University, by means of spending time as an exchange student at one of the Inbound partner universities. Chulalongkorn Business School Faculty Facilities University Facilities has a number of academic agreements with renowned The MSF Program accepts incoming exchange universities around the world, for instance, New York students and free mover students from the University’s University, University of North Carolina at Chapel Hill, and the Faculty’s partner universities around the world Faculty Library Center of Academic Resources (Central University of Wisconsin-Madison, Michigan State to create a more international learning environment. The financial lab is a learnig and research center Library) (Building No.9 in the Map) University, and University of Maryland. The MSF Most of them are from European universities, namely, for financial analysis. The lab provides the world- Center of Academic Resources (Central Library) Program has also initiated and renewed agreements University of ESCP Europe, University of St.Gallen, leading financial softwares (e.g. Reuters, Bloomberg, is located near the Graduate School Office. It is with various universities around the world, for instant, Frankfurt School of Finance and Management, Morningstar), databases for class lecture and comprised of 6 units: the central library; the national Copenhagen Business School, WU Vienna University University of Zurich, and Aalto University School of research (e.g. Datastream, IBES, SDC Platinum, documentary center; the audio-visual center; the of Economics and Business, Strathclyde Business Business. WRDS), trading data from the Stock Exchange of international information resources service; the School, HEC Lausanne, Waseda University, Frankfurt Thailand (SET) and the Thai Bond Market Association art gallery; and distance learning network (CU- School of Finance and Management, and Goethe (ThaiBMA). In addition, the financial lab also provides GDLN). Students automatically become a member University of Frankfurt. Student exchange and internship Study Trip essential statistical software, (e.g. STATA, SAS, of the Chulalongkorn University Library Network opportunities are also available at Luxembourg School MathLab) and trading simulation software (FTS, or CHULALINET when they first enroll. Graduate of Finance, University of Luxembourg. More information The Program also arranges study trips to visit our Rotman Trading Simulation) to offer a unique, students can borrow up to 7 books for two weeks. about the student exchange program can be found at partner universities and financial institutes. For example, dynamic and realistic learning experience. The fine of three baht is applied for every one- the MSF website. The full list of partner universities are in the past years, the study trip destinations were Hong day late return. Students also have access to the available at the Faculty’s website (www.cbs.chula.ac.th). Kong and Japan. All students are welcome to join this database of international journals in almost all fields Students who are interested in being an exchange trip. The MSF Program however will partially support Financial Laboratory of study including finance via www.car.chula.ac.th. student through the Faculty’s agreements, please a certain number of students’ expenses. If applications The service hour of the Center is 9:00 – 21:00 from The financial lab is a learnig and research center contact the MSF program and the Faculty’s International are more than the predetermined number, students will Monday to Friday and 9:00 – 16:00 on Saturday. for financial analysis. The lab provides the world- Affairs Office. The university-level academic agreements be chosen based on their academic performance and leading financial softwares (e.g. Reuters, Bloomberg, are more manifold and cover a wider range of countries. are responsible for all expenses themselves. After the Morningstar), databases for class lecture and MSF students, if interested, can contact the MSF trip, students must write a group report. Chamchuri 9 Building research (e.g. Datastream, IBES, SDC Platinum, (Building No.48 in the Map) WRDS), trading data from the Stock Exchange of A new academic learning center is a six-story building Thailand (SET) and the Thai Bond Market Association well equipped with academic friendly facilities and (ThaiBMA). In addition, the financial lab also provides full Wi-Fi access. The first floor houses CU Savings essential statistical software, (e.g. STATA, SAS, Cooperative Headquarter, post office and coffee MathLab) and trading simulation software (FTS, shops; while, the second floor houses CU Health Rotman Trading Simulation) to offer a unique, dynamic Service Center. The third through sixth floors are the and realistic learning experience. area for the academic learning center. Students can do self learning (read books or do homework), or book a room for group discussion or to do a group Computer Rooms assignment. It is open everyday, Monday – Friday The Faculty provides high-performance personal 7.00 – 23.00, Saturday 8.00 – 20.00 and Sunday computers and printers in the computer rooms. 8.00 – 16.00. During one month before the There are currently 7 computer rooms housing more final examination period, it is open 6.00 – 24.00. than 300 personal computers which are linked to Students are required to have their student ID card the internet through Local Area Network (LAN). All scanned upon entering the academic learning center computers are well equipped with properly licensed (the third floor and above). software applications such as ORACLE, SPSS and SAP. The computer rooms are also used for class teaching. Students are refrained from using the computer room when there is an on-going class.

MSF | Chulalongkorn University 25 Health Service Center CU Bookstore CU Cooperative Sports Facilities (Building No.48 in the Map) (Building No.75 in the Map) (Building No.75 in the Map) (Building No.10-12 and 47 in the Map)

The University provides a medical service, campus Chulalongkorn University has three branches of its CU Cooperative, run by the Student Committee, is a shop Chulalongkorn University offers a number of sports doctor, at the CU Health Service Center, 2nd fl., bookstore. On-campus bookstore is located at Sala where students can buy stationery and other necessities facilities including a stadium, indoor sport gymnasium, Chamchuri 9 Building, free of charge. CU Health Phra Keio Building (near the Faculty of Economics). at a reasonable price. University uniform, accessories tennis court, swimming pools, fitness, weight training Service Center provides preventive care, health The other two branches are located at Siam Square and souvenirs are also available here. The Cooperative room, physical fitness testing room, and CU sports shop. promotion, medical treatment and physical rehabilitation (1st fl., Wittayakit Building) and Chamchuri Square. has two branches: Sala Phra Keio (main branch) and See more information about those facilities, services and from 8:30 – 15:30, Monday through Friday. The Center Students get a 10% discount (except for certain items Barommarajakumari Building (Faculty of Arts). membership at Chulalongkorn University Sports Center’s is supervised by general practitioners and specialists such as magazines) when showing a student ID card. website (www.cusc.chula.ac.th). from Chulalongkorn Hospital. Sala Phra Kieo branch: Sala Phra Kieo branch: Monday – Friday 7:45 – 18:00 Monday – Friday: 8:00 – 19:00 Saturday 9:00 – 14:00 Saturday: 9:00 – 16:00 Siam Square branch: Barommarajakumari branch: Monday – Friday: 9:00 – 20:00 Moday – Friday 7.45 – 17:00 Saturday – Sunday: 8:30 – 20:00

Chamchuri Square branch: Monday – Friday: 11:00 – 20:00 Saturday – Sunday: 10:30 – 20:00

MSF | Chulalongkorn University 27 ACCOMMODATION

ON-CAMPUS OFF-CAMPUS Pathumwan district BAAN WORACHAT RUANGSIRI APARTMENT ACCOMMODATION ACCOMMODATION Soi Petchburi 6, Petchburi Rd. 401 Soi Petchburi7 @Soi Thung Phyathai, Ratchathewi Petchburi Rd., Ratchathewi 29/1 Soi Rongmuang2 10400 Bangkok 10400 CU Dormitory (Building No.18, 19, 22, 27 and 28 in (Information on off-campus the Map) accommodation below is obtained from Rongmuang Rd., Rongmuang Tel. 0-2612-9061 Tel. 0-2612-1296 Pathumwan Chulalongkorn University provides university-run on- the Graduate School Handbook.) Bangkok 10330 CHINA MANSION SUTHIRA MANSION campus dormitory facilities basically for Thai students There exist a large number of apartments Tel.0-81441-7981, 0-2214-5068 Soi Petchburi5, Petchburi Rd. 222 Soi Petchburi7 who are from the regions outside Bangkok. For around the campus. The rent may Thung Phyathai, Ratchathewi Petchburi Rd., Ratchathewi graduate students, only male students are allowed BLUE SMILE TRAVEL Bangkok 10400 Bangkok 10400 for application. Check for more information at its vary from 4,000 to 20,000 baht/room/ 36/44 Soi Kasemsan1, Rama I Rd. Tel. 0-2208-9030 Tel. 0-2612-1000 website (http://www.rcu.sa.chula.ac.th/apply/index. month depending on the location and Pathumwan, Bangkok 10330 php). amenities. The apartments in the list Tel. 0-2612 5005 CHITNARONG APARTMENT VENEZIA RESIDENT 50 Soi Petchburi5, Petchburi Rd. 890/93 Soi Petchburi18 below are gathered for your information KIJDAMRONG MANSION Thung Phyathai, Ratchathewi Petchburi Rd. Ratchathewi Puang Chomphu Dormitory (U-Center) 59/1 Soi Thanon Charasmuang Bangkok 10400 Bangkok 10400 (Building behind Chamchuri 9 building) but the Program or the University cannot guarantee the room quality and services. Rongmuang, Pathumwan Tel. 0-2612-2045 Tel. 0-2656-5177 U-Center is a privately-run dormitory under the Bangkok 10330 supervision of Chulalongkorn University. It is located Students are free to contact the Tel. 0-2252-5582 L.A. MANSION Bangrak district opposite to Chulalongkorn University Secondary apartment themselves and responsible 205-207 Soi Petchburi5 Demonstration School and Chamchuri 9 Building. For for all arrangements with the apartment. R.S. COURT Petchburi Rd. AUSILI-UM WOMEN’S more information, please contact the Office of Student 76/1 Soi Kasemsan3, Rama I Rd. Thung Phyathai, Ratchathewi APARTMENT Affairs, Chula Chakarabongse Building, nd2 fl., Tel. Pathumwan, Bangkok 10330 Bangkok 10400 124 Saladaeng Rd., Bangrak 0-2218-7043 and 0-2218-7055, or directly contact Tel.0-2216-3492 Tel. 0-2216-7381 Bangkok 10500 U-Center at www.ucenterchula.com, tel. 0-2216-3424. Tel. 0-2233-3430 RAMA 4 CITY COURT MANSIN WOMEN’S APARTMENT Soi Plukchit, Rama IV Rd., Lumphini 173/15 Rama XI Rd., Soi 2 SIPHRAYA DORMITORY (behind Suksit Nives International House Pathumwan, Bangkok 10330 Thung Phyathai, Ratchathewi 347/1 Siphraya Rd., Bangrak Building No.56 in the Map) Tel. 0-2654-3201-4 Bangkok 10400 Bangkok, 10500 As a residence for foreign students, Suksit Nives Tel. 0-2612-0641-9 Tel. 0-2617-5858 International House is a 8-floor dormitory with 97 SENAKIJ APARTMENT fully-furnished rooms, located at Soi Chula 6. Room Phyathai Rd., Pathumwan PHYATHAI LIEU APARTMENT SONG PHRA APARTMENT rents are from 5,000 baht/month for a twin room Bangkok 10330 Phyathai Rd., Ratchathewi 240 Mahaprutharam with no cleaning service to 10,000 baht/month Tel. 0-2612-0234 Bangkok 10400 Bangrak, Bangkok 10500 for a single room with cleaning service. For more Tel. 0-2612-1539 Tel. 0-2633-0140 information, please contact Tel: 0-2216-0040 to 6, SRIPHAN 0-2612-4600 to 9. 916 Phyathai Rd., Wangmai RAMPHAI APARTMENT Phyathai district Pathumwan, Bangkok 10330 124, Soi Petchburi, Petchburi Rd. Tel.0-2215-4021 Ratchathewi, Bangkok 10400 EK-YOTHIN APARTMENT (opposite to Building No.14 in the map) CU i-House Tel. 0-2215-7812 941/1 Soi Paholyothin1 A 26-storey new international house is located SUWANNA APARTMENT Paholyothin Rd. Samsennai between Soi Chula 7 and Soi Chula 9. The building 70 Rama I Rd., Pathumwan RATCHATHEWI APARTMENT Phyathai has 846 rooms and each room is 24 square meter Bangkok 10330 488 Soi Petchburi18, Petchburi Rd. Bangkok 10400 in size. For more information, please contact Tel: Tel. 0-2214-1941 Thung Phyathai, Ratchathewi Tel. 0-2270-1684-5 0-2216-0040 to 6, 0-2612-4600 to 9. Bangkok 10400 Ratchathewi district Tel. 0-2644-9061 PRATUANGSUK WOMEN’S APARTMENT AVENUE MANSION RATCHATHEWI COURT 779/4 Soi Luecha 70/29 Soi Petchburi7, Petchburi Rd. 57 Soi Kolit, Phyathai Rd. Paholyothin Rd., Phyathai Ratchathewi, Bangkok 10400 Ratchathewi, Bangkok 10400 Bangkok 10400 Tel. 0-2219-7393 Tel. 0-2251-9743 Tel. 0-2278-1652-3

MSF | Chulalongkorn University 29 Student Support Services

The University’s Office of Student Affairs is the main body which supports students for the whole period of their study, ranging from supporting all student activities, arranging development programs to improve students’ capacity; as well as, providing information about scholarships, student loan, further education and career opportunities. Information about scholarships specifically for graduate students and scholarships related to thesis and special projects is available at the Office of Graduate School.

The Office of Student Affairs also provides counseling service by psychologists and psychiatrists. Students who face difficulties in both personal life and university life can arrange to see the psychiatrist everyday from Monday to Friday, 8.00 – 17.00, 3rd fl., Chula Chakrabongse Building (Building No.59 in the Map). See the psychiatrists’ list and schedule at the Office of Student Affairs’ website (http://www.sa.chula.ac.th). Students can also consult those psychologists and psychiatrists via phone at 0-2251-1558 or via webboard at http:// www.custars.chula.ac.th/httpdocs/webboard/.

All registered students are insured with life and accidental insurance with no additional payment since the premium is included in the tuition and fees. Students are covered in case of injury or accidental death for 24 hours worldwide throughout their enrollment at Chulalongkorn University. See more information about coverage and benefits at the Office of Student Affairs’ website (http://www.sa.chula.ac.th/2010/th/subpage/ welfare5.php).

CAREER ADVICE

Although the MSF Program and the Chulalongkorn Business School do not provide their own career services, students or graduates can consult Careers & Educational Guidance Services at the Office of Student Affairs, 3rd fl., Chula Chakrabongse Buidling near Chula bookstore and Cooperatives. They administer and publicize job postings for both students (part-time jobs) and graduates (full-time jobs).

STUDENT COMMUNITY AND POSTGRADUATE COMMUNITY

Students, both current and graduated, actively communicate through social network platforms and the MSF Program’s student webmail service. They share information about school work and personal life. The MSF program has the facebook account “MSF Chula” as a channel where both current students and alumni can share information.

STUDENT COMPLAINTS

The MSF Program has put its great effort on course delivery and building up an environment that is educationally supportive, fair, and friendly to students. Problems however can occur from time to time. When you encounter problems or feel unsatisfied with what we have acted in accordance with our policies and standards, you should inform us as soon as possible. Problems related to the course teaching and arrangements should be directly discussed with the instructor. In case the issues cannot be resolved, the matter should be raised to the Program Committee directly or through our supporting staff. If the Program Committee cannot satisfy you or help you solve the problems, you can arrange to see the Dean of the Chulalongkorn Business School. Further complaints can be done through the University’s formal complaint procedure. See more information at the Office of Student Affairs’ website (http://www.sa.chula.ac.th).

30 MSF | Chulalongkorn University MSF | Chulalongkorn University 31 MAP

MSF | Chulalongkorn University 33 THE MASTER OF SCIENCE IN FINANCE 10th Floor, Mahitaladhibesra Building, Chulalongkorn Business School Chulalongkorn University, Phayathai Road, Patumwan, Bangkok 10330, Thailand

Tel: +66 2-218-5674-5 Fax: +66 2-218-5676 Email: [email protected]