Academic director: Duncan FAIRGRIEVE - https://dauphine.psl.eu/recherche/cvtheque/fairgrieve-duncan
The awarding of diplomas from each institution is the recognition of the successful completion of a demanding program known in both the academic and professional worlds. The education complements existing programs at Dauphine by providing the kind of international experience that is highly sought after by recruiters in France, Europe, or abroad.
German and Italian students admitted to this program will take English-language courses in the Magistère in Banking, Finance and Insurance and in the Energy, Finance, and Carbon program.
This new track in the Master’s in Economics and Finance reflects the increasing internationalization of the Master’s program, which has recently instantiated two double degree programs with Goethe University Frankfurt and Ca' Foscari University of Venice. These double degree programs are open to all students enrolled in the first year of the Master’s program in Economics and Finance.
Dauphine students in the Master’s program in Economics and Finance who are admitted to this track can therefore also get a degree from Goethe University Frankfurt or Ca' Foscari University of Venice. We envisage future partnerships in Spanish-speaking countries and in Quebec.
La formation a lieu de septembre à mi-avril.Les cours dispensés à l'université Paris Dauphine - PSL sont uniquement pour les étudiants étrangers venant effectuer leur double-diplôme.Pour les étudiants dauphinois allant dans l'une des universités partenaires, les cours sont à retrouver sur le site de l'établissement.
Admission decisions are made based on application packets.
A specific internal message will be sent to students in the Master’s program in Economics & Finance at the end of the year.
ECTS : 6
Lecturer in charge : Karim JACQUELIN
Language of instruction : French
Teaching hours : 33
Course content:
Session
Skills to be acquired:
At the end of the course the student is familiar with the main principles and tools of market risk analysis and the hedging techniques. She/He is able to design a process of market risk measurement and reporting, and to make market risk management decisions. Risk management will be examined from both a sell-side and buy-side perspective.
Assessment:
The numerical grade distribution will dictate the final grade. The passing grade for a course is 10/20. Class participation: Active class participation - this is what makes classes lively and instructive. Come on time and prepared. Class participation is based on quality of comments,not quantity. Exam policy: In the exam, students will not be allowed to bring any document (except if allowed by the lecturer). Unexcused absences from exams or failure to submit cases will result in zero grades in the calculation of numerical averages. Exams are collected at the end of examination periods.
Bibliography, recommended reading:
1. F. Chauvet, Allocation d'Actifs - Théorie et Pratiques, ch. 5: La Gestion du risque, 2024 2. S. Ross, Return, Risk and Arbitrage, 1976 Additional reading will be provided during the course
ECTS : 3
Lecturer in charge : Jean-Philippe LEFORT (https://dauphine.psl.eu/recherche/cvtheque/lefort-jean-philippe)
Language of instruction : French
Teaching hours : 15
Weighting : 1.00
ECTS : 3
Lecturer in charge : Christelle GANNAGE
Language of instruction : French
Teaching hours : 12
Course content:
- Diagnostic stratégique de l’environnement d’une business unit
- Choix stratégiques pour gagner un avantage compétitif au niveau d’une business unit
- Diversification stratégique et rôle de la holding parentale
- Méthodes pour combler l’écart strategique (croissance organique, alliances, acquisitions)
Skills to be acquired:
Comprendre à l’aide de frameworks et cas pratiques simples les choix stratégiques des entreprises au sein d’un environnement macroéconomique et concurrentiel donné
Assessment:
- Présentations en groupe (70%)
- Participation aux cas pratiques étudiés en cours (30%)
Weighting : 1.00
ECTS : 6
Lecturer in charge : Patrice GEOFFRON (https://dauphine.psl.eu/recherche/cvtheque/geoffron-patrice)
Language of instruction : French
Teaching hours : 36
Course content:
Présentation générale Le changement climatique est principalement lié à un modèle énergétique historiquement basé sur les énergies fossiles (charbon, pétrole et gaz naturel) depuis la première révolution industrielle. Limiter les principaux effets du changement climatique (événements climatiques extrêmes, pollution atmosphérique, élévation du niveau de la mer, ...) et leurs coûts économiques implique de déployer des moyens énergétiques bas carbone (éolien, solaire, ...), d'améliorer l'efficacité énergétique et, plus largement, de transformer l'organisation de nos sociétés. Dans ce contexte, le cours examine : - La théorie économique, les perspectives empiriques et l'économie politique de l'offre et de la demande d'énergie, tant pour les combustibles fossiles que pour les sources d'énergie renouvelables. - Les politiques publiques affectant les marchés de l'énergie, y compris la taxation, la régulation et la dérégulation des prix, l'efficacité énergétique et le contrôle des émissions. - Une attention particulière sera accordée aux politiques économiques telles que les taxes sur le carbone et les permis d'émission négociables, ainsi qu'aux problèmes liés au remplacement des combustibles fossiles par de nouvelles technologies énergétiques.
Skills to be acquired:
Compétences en économie du changement climatique
Assessment:
Projet final en groupe (70%) et fiche d'analyse d'un texte théorique (30%)
Weighting : 2.00
Bibliography, recommended reading:
Tous les matériaux sont fournis dans le cadre du courts
ECTS : 6
Lecturer in charge : Anna CRETI (https://dauphine.psl.eu/recherche/cvtheque/creti-anna)
Language of instruction : French
Teaching hours : 36
Course content:
Fondamentaux des marchés électricité et gaz Modélisation empirique des marchés de l'électricité et du gaz Analyse des principales source d'information pour la modélisation empirique des marchés de l'électricité et du gaz
Skills to be acquired:
Compétences en modélisation empirique des marchés de l'électricité et du gaz
Mandatory prerequisites
Economie Industrielle
Recommended prerequisites
Econométrie
Assessment:
Examen écrit
Weighting : 2.00
Bibliography, recommended reading:
Creti-Fontini, 2019, Economics of Electricity: markets, competiton and rules
ECTS : 6
Lecturer in charge : Jan-Horst KEPPLER (https://dauphine.psl.eu/recherche/cvtheque/keppler-jan-horst)
Language of instruction : French
Teaching hours : 27
Course content:
- Economie de l'énergie et de l'environnement - Transmission de connaissances fondamentales en économie de l'énergie et de l'environnement The class will provide students with an overview of key concepts in both environmental economics and energy economics. It should enable students to apply these concepts to basic policy analysis. 1. Externalities, Fixed Costs and Information (Private, public goods, club goods and externalities, informational complexity, transaction costs and the Coase theorem) 2. The Optimal Internalisation of Externalities (The Pigouvian approach, instruments for internalisation (taxes, standards, emission trading etc.), efficiency considerations of different internalisation measures, the distributional impacts of different measures) 3. Dimensions of Social Cost (Categories of social costs, risk, uncertainty and real option value) 4. The Measurement of Externalities (Measuring abatement cost, methods to measure social costs I + II) 5. Special Topics: Distribution and Energy Efficiency (Compensating vs. equivalent variation: the impact of distribution on social costs; Energy efficiency and the rebound effect) 6. Electricity Markets I + II (Sustainable development in the energy sector, the functioning of electricity markets and price formation, working with screening curves, the investment challenge according to Joskow, capacity remuneration mechanisms (CRMs), storage and demand response) 7. The Full Costs of Low Carbon Electricity Systems (Projected costs of generating low carbon electricity, full costs and system costs of different generation technologies 8. The Interaction of Carbon and Electricity Markets (Carbon prices and electricity prices: theories of price formation in the carbon market, causality between CO2 prices and different energy variables, rents of electricity producers due to carbon pricing: grandfathering vs. auctioning)
Skills to be acquired:
Compétencess en économie de l'énergie et de l'environnement
The class will provide students with an overview of key concepts in both environmental economics and energy economics with a special focus on the performance of European electricity markets. The class will develop those notions in a framework alternating between private and social utility maximisation.
Mandatory prerequisites
Admission au Master EFC
Recommended prerequisites
Microéconomie
Assessment:
Mémoire sur un de dix sujets proposés en intégrant les acquis du cours
Weighting : 2.00
Bibliography, recommended reading:
Bibliographie
Arrow, Kenneth J. (1970). “The Organization of Economic Activity: Issues Pertinent to the Choice of Market versus Non-Market Allocation”, in Robert H. Haveman and J. Margolis ( eds.), Public Expenditure and Policy Analysis. Chicago.
Barde, Jean-Philippe (1991), Économie de l’environnement, Presses universitaires de France, Paris.
Baumol William and W. Oates (1988). The Theory of Environmental Policy. New York: Cambridge University Press.
Coase, Ronald (1997), The Firm, the Market and the Law, Chicago: University of Chicago Press.
Coase, Ronald H. (1960). “The Problem of Social Cost”, Journal of Law and Economics 1(1): 1-21.
http://www.ecosystemvaluation.org/dollar_based.htm
Freeman, Myrick (1979). The Benefits of Environmental Improvements: Theory and Practice. Baltimore: Johns Hopkins University Press.
Hicks, John R. (1932, 1963, The Theory of Wages, London: Macmillan.
Joskow, Paul L. (2006), “Capacity payments in imperfect electricity markets: Need and design”, Utilities Policy (16)3: 159-170.
Joskow, Paul L. (2007), “Competitive Electricity Markets and Investment in New Generating Capacity”, in Dieter Helm (ed.), The New Energy Paradigm, Oxford University Press, pp. 76-121 also at http://economics.mit.edu/files/1190.
Keppler, Jan Horst (2019), The Costs of Decarbonisation: System Costs with High Shares of Nuclear and Renewables, with Marco Cometto, OECD, Paris.
Keppler, Jan Horst (2018), The Full Costs of Electricity Provision, OECD, Paris.
Keppler, Jan Horst (2017), « Rationales for Capacity Remuneration Mechanisms: Security of Supply Externalities and Asymmetric Investment Incentives », Energy Policy 105, 2017, p. 562-570.
Keppler, Jan Horst (2011), Carbon Pricing, Power Markets and the Competitiveness of Nuclear Power, with Claudio Marcantonini, OCDE, Paris.
Keppler, Jan Horst (2010), « Causalities between CO2, Electricity, and other Energy Variables during Phase I and Phase II of the EU ETS » with M. Mansanet-Batailler, Energy Policy 38(7): 3329-41.
Keppler, Jan Horst (2010), « The Impact of the EU ETS on Prices and Profits in the Electricity Sector » with M. Cruciani, Energy Policy 38(8): 3280-90.
Keppler, Jan Horst (2010), « Going with Coase against Coase: The Dynamic Approach to the Internalization of External Effects », in The Economics and Finance of Sustainable Development, Economica, Paris, p. 118-139.
Keppler, Jan Horst (2000), « Prices, Technology Policy and the Rebound Effect » with F. Birol, Energy Policy 28 (6-7), p. 457-469.
Keppler, Jan Horst (1998), « Externalities, Fixed Costs and Information », Kyklos 52 (4), p. 547-563.
Keppler, Jan Horst (1992), « Abgabentariffierung vor dem Hintergrund konkreter Gesetzesvorhaben » with A. Eberhardt, Zeitschrift für Angewandte Umweltforschung 5(3), 1992, p. 360-373.
Léautier, Thomas-Olivier (2013), “The Visible Hand: Ensuring Optimal Investment in Electric Power Generation”, IDEI Working Paper 605, http://idei.fr/display.php?a=22628.
Lind, R. C., Ed. (1982), Discounting for Time and Risk in Energy Policy, Washington, DC: Resources for the Future.
Pearce, D. W. and R. K. Turner (1990), Economics of Natural Resources and the Environment, Baltimore, The Johns Hopkins University Press.
Pigou, Arthur Cecil. 1920. The Economics of Welfare. 2nd Edition. London: Macmillan.
Stoft, Steven (2002), Power System Economics, Piscataway (NJ), IEEE Press.
Viscusi, Kip (2005), “The Value of Life”, Harvard Law School, Discussion Paper No. 517, 06/2005, available at http://law.harvard.edu/programs/olin_center/.
Weitzman, Martin (1974), “Prices vs. Quantities”, Review of Economic Studies 41(4), p. 477-491.
ECTS : 3
Lecturer in charge : Fabien ROQUES
Language of instruction : French
Teaching hours : 18
Course content:
- Evaluation des risques et introduction au financement de projet dans les marchés énergétiques - Transmission de connaissances fondamentales en évaluation des risques et introduction au financement de projet dans les marchés énergétiques
Skills to be acquired:
Compétences en évaluation des risques et introduction au financement de projet dans les marchés énergétiques
Weighting : 1.00
ECTS : 6
Language of instruction : French
Teaching hours : 36
Course content:
Project Finance 1. Introduction to Project Finance (1/2) a. Comparison with corporate finance b. Risks analysis c. Impact on contractual framework d. Overview of the various lenders Debt raising process and syndication 2. Introduction to Project Finance (2/2) a. Introduction to financing documentation b. The investors' perspective c. Job industry Case study: offshore wind financing & refinancing 3. Cashflow modeling a. Introduction to financial model b. Key ratios Modeling exercise on excel 4. Speakers from a developer/bank and/or advisors to present various points of view and perspectives on PF and Q&A sessions Market Finance Chapter I. Introduction and Reminders The aim of this chapter is to (i) review the fundamentals as regards the functioning of financial markets and (ii) take stock of the impact of human activities on the environment, focusing in particular on climate change. Chapter II. The material effect of environmental risks on financial markets The chapter reviews recent studies on the physical and environmental transition risks, socially responsible investment and its motivations (Riedl and Smeets (2017)) and the major challenges of environmental finance, especially regarding regulatory projects and the design of guidelines to good practices (TCFD (2017), HLEG (2018)). The academic literature on companies' cost of capital in relation to their environmental impact is reviewed (Derwall et al. (2005), Renneboog et al. (2008), Sharfman and Fernando (2008), Capelle-Blancard and Laguna (2010), ElGhoul et al. (2011), Chava (2014), Kruger (2015), In et al. (2018), Capelle-Blancard et al. (2019), Zerbib (2020)). Chapter III. Investors' environmental and sustainable practices This chapter deals with the practices of institutional investors of several kinds (Kruger et al. (2018)): insurance companies, pension funds, banks and asset managers (Andersson et al. (2016)). It focuses on various methods of sustainable investment, such as exclusion (Hong and Kacperczyk (2009)), ESG screening, corporate engagement (Dimson et al. (2015) and Hoepner et al. (2018)), and impact investing. It includes an analysis of telecoupling and investors' responsibility in activities with a high environmental impact (Scholtens (2017) and Galaz et al. (2018)) as well as investors' ability to make corporate practices greener (Heinkel et al. (2001)). Chapter IV. Financing green assets Here the focus is on the various securities available for financing green projects: green bonds (Flammer (2018), Paranque and Revelli (2019), Zerbib (2019)), project bonds, sustainable infrastructure, real estate, green funds, and labels. Chapter V. Measuring the environmental impact of investments Presentation of the metrics available, their strengths and limitations: the carbon footprint, carbon intensity, green share, brown share and stranded asset issues (Trinks et al. (2018)), avoided emissions, 2-degree alignment, and the Net Environmental Contribution (NEC). Chapter VI. Central Banking and Green Finance This chapter deals with the reasons why central banks are concerned about the environmental impact of investments and financial markets, their ability to integrate the management of this additional systemic risk into their mandate (see Benoît Coeure's speech at the ECB in November 2018, Campiglio (2016)) and the limitations of this exercise.
Skills to be acquired:
This course is designed to provide students with the tools to understand and support the greening of the financial system by articulating concrete examples, academic papers, and latest regulations.
Skills acquired during the course:
• Understanding the mechanisms at play in project finance applied to green assets
• Understanding of main climate risks underlying financial assets
• Identification of the environmental impact of financial assets
• Knowledge of various methods and practices of environmental investing
• Knowledge of the latest environmental finance regulations
Assessment:
Project Finance To be described Market Finance Essay and Oral presentation Quizz
Weighting : 2.00
ECTS : 3
Lecturer in charge : Denis BEAUDOIN
Language of instruction : French
Teaching hours : 24
Course content:
The course aims at grasping key financial asset management principles and concepts, their goals, major means, common tools & constraints, in a search of a "reasonably optimal" portfolio.
I-A review of investment processes, techniques and models over time
II-Investment Process: investment philosophy, investment universe, asset selection, portfolio construction, risk monitoring, reporting
III-Diversification, factors & risk premia
IV-Risks & return assessment (VaR, CVaR, EVT, major ratios)
V-Directional & non-directional strategies for relative or absolute expected returns
VI-SRI, ESG and other non-financial inputs
VII- Case studies (investment themes & asset managers)
Skills to be acquired:
Understanding asset management's purpose and optimization.
Understanding uncertainty reduction techniques to improve investment decisions over time.
Portfolio construction & risk-return analyses.
Mandatory prerequisites
Prior knowledge of major financial markets instruments (equities, bonds, forex, commodities, derivatives
Recommended prerequisites
Open mindedness
Assessment:
Two team-based class presentations: a first one about a pre-approved theoritical subject, and a second one being a feedback following a meeting with a CIO or a CEO of a Paris-based asset management company (meetings arranged by the lecturer)
Weighting : 1.00
Bibliography, recommended reading:
Not easy: Expected Returns - An Investor's Guide to Harvesting Market Rewards, by Antti Ilmanen, Wiley Finance (2011) Bedside reading: The Intelligent Investor, subtitled "The definitive book on value investing", by Benjamin Graham, Harper Business Essentials (2006) Easier and entertaining: Fooled by randomness, subtitled "The hidden role of chance in life and in the markets" by Nassim Taleb, Penguin Books (2007)
ECTS : 6
Lecturer in charge : Mathias GARCIA REINOSO
Language of instruction : French
Teaching hours : 24
Course content:
The course is structured around four interconnected pillars: stress management, presentation skills, active listening, and decision-making with its inherent unconscious biases. These themes are not treated in isolation; they are explored in an integrated, iterative manner, reflecting the way they interrelate in real-life professional settings.
We begin with stress, examining its origins through a neuroscientific and evolutionary lens, and move towards concrete strategies for managing it in high-stakes or emotionally charged situations. Presentation techniques build on this foundation, focusing on the impact of voice, body language, and emotional regulation in communicating ideas with clarity and presence. Active listening, feedback, and negotiation are approached through practical exercises that emphasise empathy, clarity, and adaptability. Decision-making and cognitive biases are addressed throughout the course as a thread that runs through all interactions, shaping both what we perceive and how we respond.
A continuous blend of theory and practice shapes the learning experience: scientific insights are immediately tested through discussion, reflection, and real-world application. Depending on the group’s needs and interests, additional topics such as time management, strategic thinking, or intercultural communication may also be explored.
Skills to be acquired:
This course aims to equip students with essential skills in leadership and interpersonal communication, with an emphasis on the practical application of theoretical concepts. Drawing on insights from neuroscience, behavioural science, and the science of learning, the course helps students better understand how people think, decide, and interact (starting with themselves). They will learn to recognise and manage stress, develop more effective communication strategies, and improve their ability to listen, give feedback, and navigate negotiation scenarios. The course also emphasises the importance of adapting and growing, encouraging students to develop habits of self-awareness and continuous learning. Throughout, particular attention is given to decision-making and unconscious biases, which are consistently integrated into the learning process to deepen their understanding of human behaviour in leadership contexts.
ECTS : 3
Lecturer in charge : Florence PISANI
Language of instruction : French
Teaching hours : 24
Course content:
I.Comment les marchés suivent la conjoncture : un cadre d’analyse II. Les marchés de taux d’intérêt III. Les marchés boursiers IV. Les marchés des changes Ce cours vise à permettre aux étudiants de faire le lien entre les évolutions macroéconomiques et celles des marchés financiers.
Skills to be acquired:
À la fin du cours les étudiants devront avoir une meilleure compréhension des interactions entre les marchés financiers et les évolutions macro-économiques dans les économies avancées.
Assessment:
Un exposé et éventuellement un devoir sur table permettent aux étudiants de travailler sur leur capacité de synthèse et leur capacité à analyser la conjoncture en lien avec l'actualité des marchés.
Bibliography, recommended reading:
- Brender A. et F. Pisani (2001), Les marchés et la croissance, Economica, Paris. - Brender A. et F. Pisani (2010), Global imbalances and the collapse of globalised finance, CEPS, Brussels. - Gurkaynak R., B. Sack et E. Swanson (2004), « Do Actions Speak Louder Than Words? The Response of Asset Prices to Monetary Policy Actions and Statements », Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System. - Kozicki S. et G. H. Sellon Jr. (2005): “Longer-Term Perspective on the Yield Curve and Monetary Policy”, Economic Review, Federal Reserve Bank of Kansas city, Fourth Quarter - Wright J. H. (2007): “The yield curve and predicting recessions”, Staff working papers in the Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System.
ECTS : 6
Lecturer in charge : Adrien HUSSON
Language of instruction : French
Teaching hours : 24
Weighting : 2.00
ECTS : 3
Lecturer in charge : Jerome LEPAGNOL
Language of instruction : French
Teaching hours : 21
Weighting : 1.00
ECTS : 3
Language of instruction : French
Teaching hours : 15
Course content:
Analyse des mécanismes de l'accumulation patrimoniale des ménages et ses interactions avec l'économie
Etude en profondeur du marché de l'épargne hexagonal et du rôle de chaque produit existant pour le financement de l'économie
Skills to be acquired:
Théorie de l'épargne
Recommended prerequisites
Théorie de l'épargne (Keynes, Brown, Modigliani, Friedman etc..)
Assessment:
exposés et examens écrit
Weighting : 1.00
ECTS : 3
Lecturer in charge : Sylvain BENOIT (https://sites.google.com/site/sylvainbenoit87/)
Language of instruction : French
Teaching hours : 12
Course content:
Sujet 1 : Mesures de risque de marché (Volatilité, Value-at-Risk et Expected Shortfall) – modèles ARCH/GARCH univariés
Sujet 2 : Tests de validation des mesures de risque (couverture non-conditionnelle, conditionnelle, test d’indépendance, super exception)
Sujet 3 : Risque systémique et régulation macroprudentielle (Absorption ratio, MES, SRISK, Delta CoVaR et établissements bancaires d’importance systémique) – modèles ARCH/GARCH multivariés (CCC, DCC, BEKK)
Skills to be acquired:
Ce cours a pour objectif de développer les compétences techniques des étudiants (applications sous Python) afin qu'ils soient capables de manipuler facilement des séries de rendements financiers. A la fin du cours, l'étudiant est donc capables d'identifier un processus sous-jacent sur les rendements financiers lui permettant de construire une mesure de risque de marché comme le demande le comité de Bâle dans ses accords éponymes qui règlementent le secteur bancaire. Au-delà, des aspects pratiques, ce cours développent les différents aspects de la réglementation prudentielle.
Recommended prerequisites
Programmation en Python. Cours de séries temporelles (modèles SARIMA).
Assessment:
Examen final en salle machine.
Weighting : 1.00
Bibliography, recommended reading:
Hull, J. C., 2015, Risk Management and Financial Institutions, 4th Edition, Wiley Finance. Jorion, P., 2011, Financial Risk Management Handbook, Wiley Finance Roncalli, T., 2009, La gestion des risques financiers (2e edition).
ECTS : 3
Lecturer in charge : Karim JACQUELIN
Language of instruction : French
Teaching hours : 18
Course content:
Rétrospective historique des Modèles de Risque et Théories sous-jacentes
Concepts et Mathématiques des indicateurs de risque généraux avec APT (Volatilité - Tracking Error - Beta - Corrélation...)
Concepts et Mathématiques des indicateurs de risque avancés avec APT (VaR Monte Carlo - Attribution de risque - Stress Testing...)
Cas pratiques d'utilisation des indicateurs de risque pour analyser et gérer les risques de portefeuilles en société de gestion
Evaluation des risques et des performances des fonds
Cas pratiques d'utilisation du risque pour gérer, optimiser et construire des portefeuilles : gestion quantitative avec des préférences explicites, intégration de critères ESG...
Skills to be acquired:
Suite à la formation l'étudiant aura acquis une compréhension du modèle de risque et de la méthodologie APT.
Le cours vise aussi à montrer l'intérêt de l'approche multifactorielle statistique APT pour:
- comprendre, analyser et gérer les risques de portefeuilles d'actifs financiers.
- utiliser les concepts de risque pour gérer des portefeuilles en société de gestion avec une approche quantitative.
Recommended prerequisites
Théorie Moderne de Gestion de Portefeuille (MEDAF, Volatilité, Frontière efficiente...)
Assessment:
Participation
Travail en groupe
Examen sur table
Weighting : 1.00
Bibliography, recommended reading:
Allocation d'Actifs - Théorie et pratiques (Chapitre 6 - Gestion du risque)
ECTS : 3
Lecturer in charge : Sylvain BERTHELET
Language of instruction : French
Teaching hours : 24
Course content:
Raison d'être of commodity futures markets : three different approaches. Relationships with cash commodity markets and other asset classes. Examples, hedging and trading strategies.
Skills to be acquired:
Market mechanisms, instruments (futures and options) and the basis (difference between the cash price and the future price).
Recommended prerequisites
Economics basics.
Assessment:
Written exam following the lecture.
Weighting : 1.00
ECTS : 3
Language of instruction : French
Teaching hours : 21
Weighting : 1.00
ECTS : 3
Language of instruction : French
Teaching hours : 18
Weighting : 1.00
ECTS : 3
Language of instruction : French
Teaching hours : 12
Weighting : 1.00
ECTS : 3
Lecturer in charge : Christophe LAHON
Language of instruction : French
Teaching hours : 18
Course content:
Pratiquer la modélisation financière en matière de financement de projet appliqué aux énergies renouvelables.
- Bref rappel des concepts de financement de projet
- Principes généraux de modélisation financière
- Etude détaillée d'un modèle de ferme solaire photo-voltaïoque
- Pratique des étudiants sur un modèle financier d'une ferme éolienne
- Etude de cas et jury
Practice project finance modelling applied to renewable energy projects.
- Overview of project finance concepts
- General principles of financial modelling
- Detailed study of a PV solar farm financial model
- Student practice on a wind farm financial model
- Case study and jury
Skills to be acquired:
Proposer une introduction à la modélisation financière en matière de financement de projet.
Provide a general overview on financial modelling in a project finance context.
Mandatory prerequisites
Aucun
None
Recommended prerequisites
Cours de financement de projet de BFA3- 1er semestre
Project Finance Course proposed in BFA3 - Semester 1
Assessment:
Etude de cas présentée devant jury.
Case study with presentation to jury.
Weighting : 1.00
Bibliography, recommended reading:
Pour une introduction à la modélisation financière: Pierre Vernimmen, Finance d'Entreprise
For a general introduction on financial modelling: Pierre Vernimmen, Corporate Finance (English version available)
ECTS : 3
Lecturer in charge : Anna CRETI (https://dauphine.psl.eu/recherche/cvtheque/creti-anna)
Language of instruction : French
Teaching hours : 18
Course content:
Students will be able to critically evaluate the complex drivers and consequences of global environmental problems for different societal groups, applying academic concepts and theories. They will develop in-depth knowledge in specialist areas of environment and sustainability and gain critical thinking skills. Finally, attendees will be able to assess the effectiveness, equity and trade-offs of different sustainability goals and policies.
Skills to be acquired:
Global warming and the related environmental and social issues raise serious concerns for the welfare of our current and future generations. Such changes require to develop new approaches and solutions to address these key issues so that they can become and remain sustainable. The course Environment and Sustainability will introduce students to key theories and models related to the environment, sustainability, biodiversity, natural resource preservation and the just transition.
Assessment:
Individual homework
Weighting : 1.00
Bibliography, recommended reading:
Dasgupta, Sir Partha. "The Economics of Biodiversity The Dasgupta Review Abridged Version." (2021).
Richard S. J. Tol, Climate Economics: Economic Analysis of Climate, Climate Change and Climate Policy Edward Elgar Publishing, 2019 - 234 pages
Selected Videos from https://rtol.github.io/ClimateEconomics/video/
ECTS : 6
Language of instruction : French
Weighting : 2.00
ECTS : 3
Language of instruction : French
Teaching hours : 18
Weighting : 1.00
ECTS : 6
Lecturer in charge : Rene AID (https://dauphine.psl.eu/recherche/cvtheque/aid-rene)
Language of instruction : French
Weighting : 2.00
ECTS : 3
Lecturer in charge : Guilhem BENTOGLIO
Language of instruction : French
Teaching hours : 16
Weighting : 1.00
ECTS : 24
Language of instruction : French
Weighting : 4.00
ECTS : 24
Language of instruction : French
Weighting : 4.00