Le Grand Syllabus 2016/2017
FINANCIAL COMMUNICATION - THE INTERSECTION BETWEEN STRATEGY, CORPORATE FINANCE AND MARKETS
Semester : Spring Number of hours : 24 Language of tuition : English
Required reading : La Communication Financière, Jean-Yves Leger, Dunod ; La communication ﬁnancière : Théorie et pratique, Anne Guimard, Economica ; Using Investor Relations To Maximize Equity Valuation, Thomas Ryan and Chad Jacobs, John Wiley & Sons Inc.
Semester : Autumn Number of hours : 24 Language of tuition : English
Opened to the exchange program
Teachers : Emmanuel TOUZEAU (Direction communication du groupe AXA). Prerequisite : Knowledge of ﬁnancial analysis, accounting. Pedagogical format : Elective Course validation : Credits : 4. Continuous assessment grade. Workload : Continuous assessment : 30%. Group presentation (case study) : 40%. Final exam (case study) : 30%. Pedagogical method : 12 seminars of two hours each (24 h). The course will be based on both theoretical concepts and real-life examples and business cases, leveraging current news & events, with regular participation of external speakers (ﬁnancial analyst, portfolio manager, communication consultant, etc.) to offer real-life insight on main topics. It will require active participation form students. Course Description : The course will provide a comprehensive understanding of strategic inancial communications (FC) and how it can contribute to optimizing shareholders value by providing insight into a strategy and ﬁnancials. It will cover key aspects of FC, from legal requirements to market practice, including main stakeholders (companies, investors, brokers), best practice (annual reports, shareholders meetings, earnings calls, roadshows, press releases), and critical moments (IPO, proﬁt warnings, M&A, ﬁnancing). The course will also review new ﬁelds of FC, from ﬁxed income markets and rating agencies to socially responsible investment, as well as communication with retail shareholders, media and employees, or private equity investors. Last, it will cover FC of non listed institutions and organizations, including cities and countries. Through this course, students will also have the opportunity to learn how to pitch a company — or a project — to investors, leveraging ﬁnancial communication. 2180
Teachers : Guillaume SARRAT de TRAMEZAIGUES (Executive Director of Sciences Po Paris Department of Economics). Prerequisite : Introduction to microeconomics, introduction to macroeconomics, core quantitative methods. Pedagogical format : Lecture alone Course validation : 4 credits Midterm exam (40%) : a 2h individual exam (McQ and course questions), outside class hours. Final exam (60%) : a 3h individual exam (MCQ, course questions and a short dissertation), outside class hours. Workload : Students are required to read course materials ahead of each lecture. Considering the large specter of content reviewed in the course, a high (and motivating) work load is to be anticipated. Pedagogical method : Each lecture starts with a review of last week economic and ﬁnancial issues, then a review of compulsory readings, then the lecture itself. Despite its lecture like course, it is based on core exchange with students and inclass applications/case studies. Course Description : This course offers fundamentals of money, banking and ﬁnance (markets) with focuses on current issues in the banking industry and state/banks dynamics related to economic growth ﬁnance and regulation. Based on practical case studies, it mobilises strong economic history components and low level of mathematic formalism. Content includes : fundamentals of money, interest rates and ﬁnancial instruments, equity, debt, ﬁnancial intermediation, ﬁnancial crises, banking