Teaching experience

2023 -, University of Luxembourg

Financial Management (Master in Information System Security Manager)

Statistics (Master in Finance and Economics)

Equities (Master in Wealth Management)

Macroeconomics and Business Analysis (BA in Accounting)

1995 –, Corvinus University of Budapest

Corporate Finance (BA)

Financial Calculations (Bachelor in Finance and Accounting)

Case Studies in Finance (Bachelor in Finance and Accounting)

Investments (Master in Finance, Master in Actuarial and Financial Mathematics)

Financial Risk Management (Master in Finance, Master in Actuarial and Financial Mathematics)

Development of Financial Literacy (BA and MSc)

Corporate Finance II. (Doctoral program of Business Administration)

2016 – 2018, Eötvös Loránd University, Faculty of Law

Money and Capital Markets

1994 – 2003, Central European Foundation for Brokers' Training

Stock and Bond markets

Corporate Finance

Derivative Pricing

1994 – 2008, International Training Centre for Bankers

Preparatatory course for the exam of the Stock Exchange 

Teaching statement

There is nothing more practical than a good theory.

During my academic career, I have been involved in the design and development of various programs and courses. Instead of frontal teaching, I prefer problem-based learning, group work, and discussion of case studies, and often use flipped classroom techniques. I lay an emphasis on talent management, exploiting synergies between education and research, and promoting student autonomy. In adapting to the Covid crisis, I have made significant progress in online teaching methods, which students have rated as excellent. In the following, I present the most important courses, their aim, content, and methodology.

Corporate finance (BA): This course is compulsory in all business-related undergraduate programs. The difficulty and the beauty of teaching the subject is that you have to engage students who have inherently different interests and usually weaker mathematical skills. We can do this by setting financial problems in a broader context, discussing many practical issues, and covering current affairs. We use selected chapters from the book of Brealey and Myers “Principles of Corporate Finance” and have developed a very rich set of examples for seminars and home practice. We place great emphasis on problem-based learning.

Financial calculations (BA): This course is compulsory for finance and accounting students. We rely on the book of Bodie, Kane, and Marcus “Investments” and we have the opportunity to go into great detail. In addition to acquiring thorough theoretical knowledge, the course also aims to develop students' quantitative skills and their ability to routinely use Excel and VBA to solve complex financial problems. The course is accompanied by a large number of intellectually challenging exercises and case studies. This is where students start working in teams, earning their Bloomberg certificate, and trading in real-time through the StockTrak application.

Case studies in finance (BA): This course is compulsory for all finance students in the final year. Here we do not want to teach new methods and theories but rather build on their existing knowledge to improve their ability to understand, process, and analyze very complex and challenging real-world cases. Emphasis is placed on aspects beyond narrow economic rationality: behavioral biases, value choices, ethical issues, and sensitivity to intractable social problems. Students work in teams, debate, write essays, argue, play games, present, etc., hence developing their soft skills as well. Students also find that tasks are not always well defined, sources have to be handled critically, there can be several good solutions to a problem, or on the contrary, there is no good solution at all and you have to choose one of the bad alternatives. This is the course where we experiment the most with teaching methods, giving room for creativity for both teachers and students.

Investments (MSc): Among the many courses I have developed and taught over the past decades, “Investments” stands out. This course is compulsory for students in the Finance Master program and covers all the important areas of mathematical finance such as asset pricing, arbitrage, hedging, speculation, trading strategies, portfolio optimization, and derivatives. We rely on selected chapters from two standard textbooks: Bodie-Kane-Marcus “Essentials of Investments” and Hull “Options, Futures, and Other derivatives” which are complemented with our practice examples, case studies, and teaching aids. I am particularly proud of the creation of the Financial Laboratory and the integration of the Bloomberg and Refinitive into teaching.

Financial risk management (MSc): This is also a compulsory course in the Finance Master program which is perhaps the most practice-oriented. Student find the curriculum extremely useful. Most of the knowledge acquired here is needed for successful job interviews in the financial sector and will be heavily used in later work. Based on the book of John C. Hull “Risk Management and Financial Institutions”, we trace the history of Basel regulation, with a strong focus on current regulation, and explore the various tools for classifying, measuring, managing, and mitigating risk. The course covers the key issues of market, credit, liquidity, operational and systemic risk enhancing also the programming skills of the students. We do our best to keep the course material relevant and up to date. For the lectures, we regularly invite business partners and practitioners.

Causality in finance (data analysis) (MSc): This is a new course where we rely on the book of Békés-Kézdi “Data Analysis for Business, Economics, and Policy”, especially the fourth part dealing with causality. The book provides excellent case studies, rich databases, and programming guides, which we complement with selected seminal papers in finance dealing with cause-and-effect analyses. During the course, students use R for data analysis, and they are required to initiate their own research projects.  I believe that mastering basic causality methods (diff-in-diff, RDD, panel regression, matching, instrumental variables) is important for both researchers and practitioners. Students can apply these methods to a wide range of finance-related questions, for which I am happy to provide research consultancy and/or thesis supervision.

Development of financial literacy (elective, Ba, MSc): This elective course is a new initiative that proved to be very successful in the Spring semester of 2022. This is our most open and creative course, in which students work in teams of 2-3 to design and implement their own project with the sole requirement of improving the financial literacy of disadvantaged people. We trainers only offer inspiration and consultation, but we do not give detailed instructions and especially, and we do not limit the content or methods. Students come up with a wide variety of projects (higher education strategies, digitalization, sports betting, fake news, personal finance, etc.), travel to mostly rural, disadvantaged secondary schools, design amazing games, distribute prizes, and make lots of new contacts. At the end of the course, we discuss their experience together. In recent years, students exceeded all our expectations in terms of ideas, implementation, and engagement.

Corporate Finance II (Ph.D.): The aim of this course is to get Ph.D. students used to reading and processing top financial academic articles. These are selected by looking for high-impact, highly cited papers that cover many different fields and methods and preferably relate to the research topics of the participating students. The focus is on empirical corporate finance and corporate governance relying on the book of Jean Tirole "Theory of Corporate Finance".


Books

Thesis supervision

Topics:

financial markets, corporate sustainability, student loan, crisis management, financial inclusion

Professional service

2015 – 2020, Member of Doctoral School in Economics

2014 – 2020, Academic leader of the Finance Master program

2012 – 2022, Organizer of the “Corvinus Lectures in Finance” academia-meets-industry program

2013 –, Organizer and Academic leader of “Financial Laboratory”

2010 – 2011, Head of Investment Analyst Specialization (Master level)

2010 –, Organizer of the “Annual Financial Market Liquidity” conference series

2009 – 2020, Member of Faculty Committee

2009 – 2017, Head of Finance Specialization (Bachelor level)

2008 – 2021, Head of Corporate Finance Specialization (Ph.D. program)

2008 – 2021, Member of Doctoral School in Business Administration

2005 – 2010, Head of Corporate Finance Specialization (Master level)