The Programme
The four-year programme comprises eight semesters, the first two of which form the first (propedeuse) year. The courses taught in the first year are partly similar to those offered in the Dutch HES departments BE, BI, L&E, FSM and AC, and partly to those of the first year of the International Business and Management Studies department. The difference is the emphasis on the subjects on International Financial and Management Accounting in the IFM- study programme. The programme offers you the opportunity to study at one of our ninety partner institutes abroad, or instead follow a minor at HES.
Umesh Rijal
Student International Financial Management
I chose for Economics & Management / HES because it is an internationally oriented school with a multinational and diversified culture.
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Foundation year
The first year is divided into two semesters, which are largely independent of one another. You attend lessons in several different modules including sports, and together with fellow students you complete one integrated project in each semester. The first semester programme of IFM is the same as that of IBMS. After that semester you may decide to aim to get two propedeuse certificates: that of IFM as well as of IBMS. English as a foreign language is compulsory, except for native speakers of English. The second foreign language can be either Dutch, or Spanish, or Portuguese or French. Examinations take place at the end of each semester, and projects on each module (case studies and learning projects) have to be completed and are assessed in the course of the semester. You must have passed the first year examinations to be able to continue with the main phase of the following six semesters.
Second year
During the second year the subject matter is expanded and explored more thoroughly. Focussing on the international content of the course becomes more important. In the second year you make important decisions regarding the third year of the programme: Around this time you must decide where you wish to study abroad for half a year. In the second semester of this year the selection procedure for study abroad takes place.
Necessary information regarding study programmes offered by the Partner Institutes is available to students, and information sessions are organised. Economics & Management / HES offers Exchange Programmes with some 90 institutes worldwide. During the second year students submit an application outlining exchange programme and partner institute preferences. This is taken into consideration as much as possible when allocating the places available. However, the results of both the first and the second year examinations are the main determining factors. The final decision rests with the Head of the IFM Department.
After completing the IFM programme you are, for example, able to:
- write a business plan;
- give a description of the administrative organisation;
- create a business Balanced Score Card and flow charts;
- give a strategic management recommendation;
- make annual accounts and report;
- calculate tax returns;
- give management information for the making of decisions;
- give a risk analysis of the organisation's costs structure;
- make a cost control plan, investment selection plan and a risk report on existing investments;
- set up a liquidity plan.
Third year
During the third year you will be able to make a personal study plan. You will choose your minor at one of our partner institutes in Europe, the USA or South America and you go abroad for a one semester exchange. After that you will do an internship with a company based abroad.
The exchange
While students are abroad, the coordinator for that particular country keeps in regular contact and visits them when possible. Furthermore, the International Relations Office can provide students with additional information regarding exchanges, such as possible grants.
The placement
Economics & Management / HES has an efficient and helpful Placement Office staff, which works hard to maintain existing contacts and to acquire new contacts with corporations, government, semi-government and non-profit organisations.
As a company placement abroad is mandatory for IFM students, the department has a coordinator who looks after the specific requirements of the department; this entails maximising contacts abroad and organising the programme. However, it is the responsibility of the student to find a suitable placement abroad. The coordinator will, of course, make every effort to advise and assist. Members of the IFM staff are assigned a number of students to supervise and will visit them where possible. Students are required to submit a series of interim reports to their advisors and to prepare a comprehensive final report on the placement. Assessment is based upon these reports.
Fourth year
The fourth year is the final year. Students sit their final examinations and have to write their dissertation.
The dissertation
The dissertation is a criterion for successfully completing the study programme. A dissertation is a problem-solving assignment conceived and written by the student. The basis for such a dissertation is a problem or opportunity, international in scope, in the field of finance and management. Using knowledge, skills, and experience gained over the previous three and a half years, the student is expected to explore and analyse relevant data and provide concrete recommendations for the solution of the problem or suggestions for a future line of approach.
A qualified and experienced member of the IFM teaching staff supervises the student throughout the process. The student and the client organisation choose the dissertation subject, which must be approved by the IFM staff member. The supervisors make the final evaluation, and the student must successfully defend the dissertation during an oral examination.