Emerging markets finance issues explored in KEDGE Sustainable Finance MSc

The “emerging markets finance” course is a key part of the MSc Sustainable Finance programme that offers a brand new approach to finance. This semester, as part of this module, students worked in groups on a specific country case, a particularly concrete teaching experience to grasp the financial challenges of these markets.

An innovative approach to tomorrow's finance

Through a combination of theoretical models, empirical analysis and a case study, the “emerging markets finance” course, within KEDGE Msc in Sustainable Finance curriculum, helps students become familiar with the macroeconomic and institutional features of fast growing middle-income countries.

This course helps students:

  • understand the analysis of macroeconomic imbalances in this type of markets,
  • develop core basic quantitative skills through data gathering and handling,
  • understand why and how financial crises impacts them,
  • learn how to integrate concepts such as international financial integration and contagion into country risk analysis,
  • discover real-world project screening methods involving the use of macroeconomic and institutional data for emerging countries
  • grasp the dependency issues emerging economies face in the low-carbon transition with respect to developed economies; financial (need for foreign capital in the form of debt, foreign direct investment, bonds, etc) and technological (solar panels, wind power, hydrogen and nuclear facilities, etc.)

Upon completion, the module improves students’ expertise on international economics and finance, while at the same time enhances their research design and data analysis skills.

A closer look at students' work

The 8 student groups chose a developing country on which they agreed a case study with Luis Reyes Ortiz, the programme director. The issues were as follows:

  • What changes are needed in the current textile industry to meet ESG criteria in Bangladesh?
  • Economic Impact of Chile’s Climate Change Strategy.
  • Ghana, from instability to a strong democracy?
  • How is Indonesia trying to stay sustainable while developing?
  • Can Nigeria incorporate ESG criteria in its economic model?
  • Ukraine's energy mix and its potential to move towards a low carbon future
  • Financial risk scenarios in Vietnam
  • What are the implications of Chinese investment in the copper sector for sustainability in Zambia?

Abraham AGUILAR, Marwa BENDAOUD, Quentin BERGER, Ayman GABALLA and Lou RIVIERE worked together to assess the current strategies that the garment industry in Bangladesh is implementing to meet the ESG criteria. They share their feedback on the project:

Developed economies are currently concerned about how sustainable the manufacturing industry is, hence the importance of assessing an emerging market to turn a potential threat to their industry into an opportunity. To achieve sustainable finance in an economy, we have to shift from a microeconomic perspective to a macroeconomic view where all stakeholders of an economy are considered.

Abraham Aguilar Vallejo, current Sustainable Finance MSc student

A pioneer and recognized programme in Sustainable Finance

KEDGE MSc in Sustainable Finance is an expert programme to master the strategies and frameworks for responding to financial risks posed by social and sustainability issues. It offers solid training in the technical aspects of finance as well as sustainability, fintech and digital issues, and all legal aspects.
It includes specific courses such as the "emerging markets finance" module,  particularly recommended for students wishing to pursue their studies at a higher level (PhD), or seeking to join an International Organization (World Bank, International Financial Corporation, NGOs...) or a large investment bank after graduation.

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