BBA + Master in International Finance

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The Bachelor in Business Administration + Master in International Finance and Banking is intended to train professionals capable of working in the fields of management, consultancy and appraisal at any type of organisation. During their university course, students develop an in-depth understanding of how every area of an enterprise operates and is organised. Knowledge which is supplemented by developing the necessary skills while at university to identify and anticipate opportunities, assign resources, organise information, select and motivate people, reach decisions, achieve the targets that have been set, and evaluate results.

As a differentiating element, CUNEF has added the Master In International Finance and Banking, which is the only programme of its kind on the market, with a totally practical approach designed to train students who wish to focus their professional career on international companies, corporate banking, investment banking, private banking, fund management and financial services companies. The aim is to equip the student with the knowledge associated with the work carried out in each department of a bank and their fundamental products. In turn, these products are those used by multinational companies which are clients of those banks.

This is a practical programme, analysing real operations, where the name of each subject corresponds to the specific department where the content of the teaching programme would be used.

The material is taught by expert lecturers who have worked in the departments corresponding to that subject and in an international environment. The training has a definite international orientation, therefore the graduates in this master specialise in the financial business from a global and multilateral perspective. In the final year, the student will know which area of a bank or international company best suits their skills and interests and will be able to specialise in one of the following areas:

  • Commercial and Investment Banking
  • Corporate Finance
  • Asset Management and Private Wealth

Qualification title: Bachelor in Business Administration + Master in International Finance and Banking

Centre Responsible: CUNEF

Academic year of launch: 2018-2019

Minimum number of ECTS per enrolment and teaching period

Full-time students

Part-time students

First Year

  • Minimum ECTS: 60
  • Maximum ECTS: 60

Other Years

  • Minimum ECTS: 60
  • Maximum ECTS: 90

First Year

  • Minimum ECTS: 60
  • Maximum ECTS: 60

Other Years

  • Minimum ECTS: 30
  • Minimum ECTS: 90

The Bachelor in Business Administration + Master in International Finance and Banking has the following hallmarks:

  • Programme intensity. This is an intensive programme that requires a full-time commitment by the students.
  • Two degrees in 5 years (300 ECTS).
  • Two professional placements abroad during terms 8 and 10.
  • All students complete the course with a high level of English, equivalent to C1 (they must demonstrate this level through an internal or external exam).
  • Mentors from the very first year who will accompany them during their time at the centre and whose mission it is to provide them with the resources to successfully develop their career within the institution and then during their professional placement.
  • Incorporating distinguishing elements, the Degree in BAM + Master in International Finance and Banking has all the ingredients so that the road to success is clear and reinforced for students having studied at CUNEF.


The CUNEF Bachelor in Business Administration + Master in International Finance and Banking pursues the following teaching goals:

  • First of all, students acquire a sound knowledge of enterprises, how they work and how they relate to the national and international economic context.
  • They secondly explore in greater depth the methods and techniques of business administration and management, giving them a thorough knowledge of how every area of an enterprise operates and is organised, allowing them to perform management and consultancy tasks at any type of firm. The training required to hold senior positions at national and international company departments in industry, trade, banking, insurance, development cooperation, etc.
  • Thirdly, students acquire knowledge in the field of the quantitative methods needed in business practice: basic elements of linear algebra, calculus, financial mathematics, statistics and econometric models.
  • Furthermore, the participants also gain familiarity with the processes of decision-making, analysis and summary skills, communication and teamwork. They likewise develop the abilities required to apply knowledge in practice, to receive and convey information in other languages, and to use information and telecommunications technologies.
  • To supplement all this, students have the chance to complete their academic training with a practical placement at a company, through educational cooperation programmes and international training periods on exchange programmes established with a wide range of universities worldwide.
  • Lastly, the aim is to raise students’ awareness of ethical principles and values in the course of their work and in society at large.


The skills acquisition process takes place through the modules and subjects that make up the Degree course. How aptitudes are acquired will of course depend on the student’s stage on the Degree course, with skills being learned at initial, intermediate and advanced levels, as is standard practice within the European university system.

The horizontal and specific skills acquired by students focus on preparing them to engage in professional pursuits corresponding to the qualification offered.

The way the skills are designed likewise complies with the provisions of the ‘MECES’ framework for higher education qualifications in Spain.

General skills

GS1: Capacity to solve problems. Description: Find solutions and reach a fixed and decisive determination to resolve a query or problem.

GS2: Capacity for analysis and summary. Description: Study a topic, problem, case, article, exercise, etc. in detail, and summarise and compile the key elements.

GS3: Capacity for organisation and planning. Description: Understand how to plan the steps to be followed and/or structured to reach an objective, appropriately allocating the available material and human resources by assigning specific functions to each.

GS4: Capacity for communication and teamwork. Description: Understand how to convey information verbally and/or in writing. Collaborate and cooperate with others, giving the best of their skills to achieve team results. Accept and value the abilities of others, and aim for synergy with colleagues. Value differences and build relationships of respect and growth.

Horizontal skills

HS1: Capacity for research and information gathering Description: Aim to locate or find information using different sources (databases, media, manuals, etc.) and study this information in depth.

HS2: Capacity to receive and convey information in other languages, above all English. Description: Use and master other languages, fundamentally English.

HS3: Capacity to work under pressure. Description: Have little difficulty working in complex situations when subject to coercion, intimidation, etc.

HS4: Capacity to apply knowledge in practice. Description: Understand how to use the knowledge acquired to achieve a specific goal, such as resolving an exercise or the discussion of a case study.

HS5: Use information and telecommunications technologies. Description: Use and master the technological resources available (virtual campus, Internet, IT applications, etc.).

Specific Skills

SS1: Manage and administer an enterprise or organisation, understanding its competitive and institutional positioning, and identifying its strengths and weaknesses. Description: Know how to lead and govern an enterprise to achieve the maximum profit, taking into account the resources available to the organisation and the characteristics of the context and/or market within which it operates.

SS2: Integrate within any functional area of a large or medium-sized enterprise or organisation, and comfortably perform any management task entrusted there. Description: Be comfortable operating in any department of an enterprise (production, marketing, human resources, finance, etc.), reaching and implementing decisions. Specifically, the ability to perform diagnoses and proposals for organisational improvement, to make proposals to improve working methods and working time studies, design production incentives plans, understand and successfully perform the functions and activities inherent at human resource departments (job analysis and appraisal, recruitment, remuneration, etc.); use marketing tools and techniques to give consumers what they need and/or want at any given time, while simultaneously gaining the maximum profit for the company; know how to analyse and plan investments, forecasting expectations, interrelationships and financing; ability to manage and oversee the company’s financial plan, representing and communicating economic and financial information through accounting statements, verifying and ensuring that economic and financial information is compliant with the legislation in force, etc.través de los estados contables, verifica y controla la información económico financiera según la legislación vigente, etc.

SS3: Identify sources of relevant economic information and their content. Description: Understand the different resources or sources of information providing key data for corporate decision-making.

SS4: Derive relevant economic information from the data. Description: Identify and compile data from different information sources, in order then to convert this into useful economic information for decision-making.

SS5: Use the relevant information records to appraise a company’s position and foreseeable evolution. Description: Use relevant information to analyse, diagnose and predict the economic, financial, commercial, accounting or administrative position of companies, corporate groups and sectors, and the branches to which they belong.

SS6: Issue consultancy reports on a specific company and market situations. Description: Draw up economic and financial studies and documents concerning companies and/or markets, valid for use at any central, local or quasi-state governmental body and other regional agencies, and at any court body.

SS7: Draw up plans for overall management and for individual functional areas of a company. Description: Ability to draw up detailed plans for companies and organisations in accordance with preset goals, at different levels from the most comprehensive (strategic plans) to the most specific, corresponding to an individual department for functional area.

SS8: Understand the fundamental elements of the national and international economic context within which the company performs its activities. Description: Understand national and international economic institutions, the basic phenomena of the Spanish and international economy, the tax system and the basic economic laws affecting the company.

First term

012802260Business LawSpanish6BasicPDF
012802262Fundamentals of Business ManagementBilingual6BasicPDF
012802263History of EconomicsBilingual6BasicPDF
012802261Introduction to EconomicsBilingual6BasicPDF
012802264Business Mathematics IBilingual6BasicPDF
MasterFinance, Technology and GlobalizationBilingual3MandatoryPDF

Second term

012802266Financial Accounting IBilingual6BasicPDF
012802268Business Statistics IBilingual6BasicPDF
012802267Fundamentals of Financial Administration of a BusinessBilingual6BasicPDF
012802269Business Mathematics IIBilingual6BasicPDF
Banking and FinanceBilingual3MandatoryPDF
Total first year66

First term

012802275Financial Accounting IIBilingual6MandatoryPDF
012802273Commercial Law ISpanish3MandatoryPDF
012802271International Economic ContextBilingual6MandatoryPDF
012802272Financial MathematicsBilingual6MandatoryPDF
012802274Industrial and Enterprise SociologyBilingual3MandatoryPDF
Financial Information TechnologyBilingual3MandatoryPDF

Second term

012802276Accounting ManagementBilingual6MandatoryPDF
012802278Spanish EconomySpanish3MandatoryPDF
012802280Business Statistics IIBilingual6MandatoryPDF
012802281Organisation and DesignBilingual6MandatoryPDF
012802277Economic PolicyBilingual6MandatoryPDF
012802279Tax System ISpanish3MandatoryPDF
Currency MarketsBilingual3MandatoryPDF
Total second year66

First term

012802282Accounting Analysis and ConsolidationBilingual6MandatoryPDF
012802286Human Resources ManagementBilingual6MandatoryPDF
012802285Fundamentals of MarketingBilingual6MandatoryPDF
012802284Decision-making MethodsBilingual6MandatoryPDF
012802283Asset Valuation and Investment AnalysisBilingual6MandatoryPDF

Second term

012802288Financing DecisionsBilingual6MandatoryPDF
012802291Production ManagementBilingual6MandatoryPDF
012802290Commercial ResearchBilingual6MandatoryPDF
012802287Tax System IISpanish6MandatoryPDF
Global Structured FinanceBilingual3MandatoryPDF
Total third year63

First term

012802301Data AnalysisSpanish4ElectivePDF
012802292Financial Planning and AnalysisBilingual6MandatoryPDF
012802293Consumer BehaviourBilingual6MandatoryPDF
012802296Consolidation of Financial Statements*Bilingual4ElectivePDF
012802294Strategic ManagementBilingual6MandatoryPDF
012802304National and International Financial Markets*Bilingual4ElectivePDF
012802300National and International Financial Markets*Spanish4ElectivePDF
012802320Practical Placements*Spanish12ElectivePDF
Firm Valuation and Financial ModellingBilingual3MandatoryPDF

Second term

012802306Company Accounting**Spanish4ElectivePDF
012802318Enterprise Creation**Bilingual4ElectivePDF
012802313Commercial Law II (Banking and Stock Market Law)**Spanish4ElectivePDF
012802310Banking Management and Economics**Bilingual4ElectivePDF
012802309Company Governance, Social Responsibility and Sustainability**Spanish4ElectivePDF
012802311Banking and Stock Market Operations**Bilingual4ElectivePDF
012802308Spanish Financial System**Spanish4ElectivePDF
012802321Final Degree ProjectSpanish6MandatoryPDF
Total fourth year66

First term

Risk Management and Value in Banking and InsuranceBilingual6MandatoryPDF
Taxes and International Business StrategyBilingual6MandatoryPDF
Investment BankingBilingual4MandatoryPDF
Regulation in Financial Markets and InstitutionsBilingual3MandatoryPDF
Alternative InvestmentsBilingual4MandatoryPDF
International Portfolio ManagementBilingual4MandatoryPDF
Master Thesis and DissertationBilingual3MandatoryPDF

Second term

Internship in international financeBilingual6MandatoryPDF
Master Thesis and DissertationBilingual3MandatoryPDF
Total fifth year39


Degree SummaryMaster Summary
First Year60First Year6
Second Year60Second Year6
Third Year60Third Year3
Fourth Year60Fourth Year6
Fifth YearFifth Year39
Total ECTS:240Total ECTS:60
Total ECTS:  Degree + Master300

CUNEF sets out below information on the Lecturers who teach this qualification (academic and professional CVs for all of them), demonstrating that CUNEF has the optimal academic staff required in order to deliver the teaching scheduled for the Bachelor in Business Administration + Master in International Finance and Banking.

The academic, research and professional qualifications of the lecturers teaching this qualification at CUNEF are therefore appropriate.
The academic, research and professional qualifications of the lecturers teaching this qualification at CUNEF are therefore appropriate.

Spheres of knowledge

No. of Professors



Business Management

Finance and Accounting27203
Quantitative Methods13115
Overall Total827227

Students on the Bachelor in Business Administration + Master in International Finance and Banking will have the opportunity to work at all manner of organisations, enterprises or institutions in industry, consultancy, banking and finance, the insurance sector, etc., and in the different departments of national and international enterprises and public administrations.

  • Professionals in management, consultancy and evaluation at any type of organisation (public or private, for-profit or not-for-profit).
  • Professionals in the production area.
  • Professionals in the human resources area.
  • Professionals in the finance, marketing or investment area.
  • Professionals in the administration area.
  • Professionals in the accounting area.
  • Teaching and research.

There are two formats of external academic placement:

  • Curricular: forming part of the Course Curriculum. The Practical Placement subject corresponds to this mode.
  • Extracurricular: undertaken by students on a voluntary basis during their education, without forming part of the corresponding Course Curriculum. This will however be covered by the European Complement to the Degree, as established in the regulations in force.
Number of ECTS:12 ECTS
Nature of the subject:Elective
Duration300 hours
RequirementsEnrolment on any educational course delivered by CUNEF. Students must be enrolled at CUNEF throughout the duration of the practical placement.
Students that have any fourth examination session subject pending will not be able to sign the Agreement until this has been passed.
Where do I find practical placement offers?CUNEF students can find practical placement offers through:
CUNEF Career Centre 
CUNEF International Career Centre
When are practical placements performed?Once all Year 1, 2 and 3 subjects have been passed. In other words, from the summer of Year 3 onwards.
Teaching Guide for practical placementsPDF
Specific CUNEF regulationsFPDF
Educational cooperation agreement formatPDF
Student appendixPDF
Final report formPDF

Article 31 of the Spanish Universities Act reform (Act 4/2007) addresses Quality Assurance, laying down the need to establish quality assurance criteria to facilitate evaluation, certification and accreditation, viewing quality assurance as an essential purpose of university policy. The new organisational structure for universal education established by Royal Decree 1393/2007, and the subsequent amendment in Royal Decree 861/2010, includes quality assurance as one of the basic elements that a course curriculum must include.

Spanish Universities Act 6/2001, of 21 December 2001, and the reform applied to this by Act 4/2007, of 12 April 2007, Article 31 of which addresses Quality Assurance, lays down the need to establish quality assurance criteria to facilitate evaluation, certification and accreditation, viewing quality assurance as an essential purpose of university policy. Royal Decree 1393/2007, of 29 October 2007, amended by Royal Decree 861/2010, of 2 July 2010, establishing the regulations governing official university education, clearly indicates that “Quality Assurance Systems, which form a part of the new course curricula, likewise provide the basis for the new educational structure to function efficiently and to generate the trust on which the process of qualification accreditation relies”. The establishment of a Quality Assurance System is thus included in the new official university education regulations as a condition of the process of qualification verification and accreditation.

CUNEF has defined the structure of its Internal Quality Assurance System, (IQAS) and the procedures governing this function, in accordance with the demands of Royal Decree 1393/2007, amended by Royal Decree 861/2010.

The IQAS allows CUNEF to ascertain the development of its official qualifications, in support of transparency, the inclusion of continuous improvement strategies and the systematic organisation of actions effectively contributing to qualifications quality assurance and efficiency in processes to appraise verification, monitoring and renewal of mandatory official qualifications accreditation.

The CUNEF IQAS has the following structure: Degree Quality Committee, Master’s Programme Quality Committee and Doctorate Quality Committee, Technical Quality Unit, Academic and Management Unit.

The Quality Committees are responsible for monitoring the implementation of the degree, master’s and doctorate programmes taught at CUNEF. These Committees analyse and appraise the development of the qualifications, making proposals for review and improvement that will be submitted to the Academic Committee and CUNEF Management to be taken into account where applicable.

These committees have the following responsibilities:

  • Manage and coordinate the Internal Quality Assurance System and monitor this process.
  • Monitor and evaluate the quality targets, external practical placements and mobility programmes.
  • Draw up the regulations governing the functioning of the Quality Committees, and make the corresponding proposals to the Academic Committee and the Director of CUNEF for approval.
  • Gather information and evidence as to the development and application of the training programme for the qualification (objectives, development of teaching and learning, methodology, etc.).
  • Manage the Information System for the qualification (information, support and guidance for students, coordination of teaching staff, qualification course resources, mobility programmes, external practical placements, etc.).
  • Supervise fulfilment of the quality policy for the qualification in accordance with the CUNEF quality policy and the UCM quality policy.
  • Promote specific actions to encourage the use of new teaching methodologies and to disseminate and raise awareness of good practice in the field of quality.
  • Draw up guidelines for the development of information systems as to objectives, available resources, management and results of the qualifications course intended for lecturers, students and admin and support staff.

The Academic Committee (see composition in Table 1) is responsible for coordinating improvement proposals connected with qualifications and for decision-making in this regard. The Director of CUNEF is ultimately responsible for validating the decisions reached by the Academic Committee. Each Quality Committee comprises:

  • The coordinators/directors of the applicable official qualifications in each case (degree, master’s and doctorate programme),
  • The representatives (at least one per qualification) of the lecturers teaching each qualification,
  • The representatives (one per qualification) of students sitting for the qualification as candidates,
  • Up to a maximum of three representatives from the professional sphere of university qualifications delivered by CUNEF (where there are alumni among these representatives, they will be selected from this group), and a representative of admin and support staff.

The Degree Quality Committee is currently in operation (see composition in Table 2). It oversees the proper development of official CUNEF qualifications, and can be sent any comments connected with the quality of qualifications via the suggestions box.

The Quality Committees meet at least twice per year and are governed by the Quality Committee Functional Regulation approved on 24 November 2014.

Degree Quality Committee

Full nameCategory and/or group
Mercedes Gracia DíezDegree Director (President)
José Javier Galán RuizDegree in Law Director
Guillermo Velasco FabraAcademic Staff Representative
Francisco Javier Sosa ÁlvarezAcademic Staff Representative
Javier Sánchez HernándezAdmin and Support Staff Representative (Secretary)
Begoña Menéndez RodríguezAdmin and Support Staff Representative
Pablo Romanillos Pardo de SantayanaStudent Representative
Felipe Julián Vázquez SánchezStudent Representative
Cecilia de la Rosa GonzálezAlumni Representative




















Demand rate (pre-registered/places)337,78%335,56%311,67%530,00%
ICM-1 – New enrolment places offered (authorised by the UCM)200211180180180180160
ICM-2 – New enrolment205205182169285154165
ICM-3 – Percentage cover102,50%97,16%101,11%93,89%85,56%91,67%178,13%
ICM-4 – Qualification performance rate90,64%89,67%85,93%87,10%89,84%90,84%86,33%
ICM-5 – Degree dropout rate12,8%7,8%7,32%3,35%6,59%Not applicable8,08%11,640,1123
ICM-6 – Teaching Evaluation Programme participation rate100%100%100%100%100%100%100%100%100%
ICM-7 – Alumni Efficiency rate100%100%100%94,81%95,05%91,93%93,02%
ICM-8 – Graduation rate92,15%90,37%Not applicableNot applicableNot applicable96,55%81,81%82,09%79,44%
IUCM-1 – Success rateNo procede90,03%91,16%86,78%
IUCM-2 – First choice degree demand rate85%107,22%186,25%
IUCM-3 – Second and subsequent choice degree demand rate58,33%58,89%39,38%
IUCM-4 – Degree suitability rate84,71%88,41%51,58%
IUCM-6 – Teaching Evaluation Programme participation rateNot applicableNot applicableNot applicable96,75%95,09%95,05%93,02%91,93%92,39%
IUCM-13 – Student satisfaction with the qualification7,767,627,126,946,577,097,21
IUCM-14 – Lecturer satisfaction with the qualification997,98,51
IUCM-15 – Centre Admin and Support Staff satisfaction5,037,96,826,767,337,5

IUCM-16 – Qualification Appraisal Rate


*ICM – Madrid Regional Government Indicators
*IUCM – Universidad Complutense de Madrid Indicators

CUNEF is a highly specialised university education institution focused on the world of business management, finance and financial markets and instruments, and law. Our Degree and Postgraduate programmes set the standard in their respective fields.

To maintain this prestigious standing, CUNEF is committed to the continuous improvement of the teaching, research and services it provides as part of its quality commitment.

In accordance with its equality policy, CUNEF aims to fulfil the reasonable needs and expectations of its students, lecturers, admin and support staff, governing bodies and society at large. To this end the Centre defines the following quality objectives:

  • Pursue excellence in the education given to its students, combining cutting-edge knowledge with an eminently professional focus.
  • Offer its students the very best lecturers for their specialist qualifications in each operational sphere, combining knowledge and educational vocation with lengthy professional management experience in their respective fields.
  • Consolidate its image as a University Centre of acknowledged standing.
  • Underpin its professional network of lecturers, students, graduates/alumni and partner companies to generate benefits in the professional and managerial performance of its graduates/alumni.
  • Achieve an employability rate among graduates/alumni of close to 100%.
  • Commit to the internationalisation of its students, lecturers and programmes.
  • Ensure that the quality policy is understood and accepted by all CUNEF staff and is publicly available.
  • Ensure that the CUNEF Internal Quality Assurance System remains effective and is periodically revised. As the figure responsible for this institution, I undertake to develop and implement this quality policy in order to achieve the highest possible level of performance among our students.

Ana Isabel Fernández Álvarez

CUNEF Director

The Degree Quality Committee meets periodically over the course of the academic year, and at least twice per year. These meetings analyse information regarding the implementation of degree studies and the data revealed by the functioning of the quality assurance system. This review and study of information serves to identify areas for improvement that the Quality Committee conveys to CUNEF Management for approval and execution together with the tasks to be undertaken to eliminate any shortcomings.

The Degree Quality Committee maintains a register of quality improvements and strengths which it reviews and updates at least once per term, in accordance with the tasks being performed and the assessment of their impact.

Numerous improvement actions have been conducted since 2013 covering a wide range of aspects, resulting in managerial improvements and enhanced satisfaction among students and other stakeholders, alongside the public information made available about CUNEF itself and its academic offering, etc. Particular mention should be made by way of example of efforts to increase teaching coordination, to incorporate diploma supplements within the degree courses, to review and enhance the website and the information published there, etc.

For more specific and detailed information about how the Degree Quality Committee functions and the improvement proposals made, you may contact the email address .

The employability of CUNEF alumni represents a variable which is analysed by the Quality Committees, serving to assess professional interest in the qualification while likewise ascertaining whether alumni have acquired the skills initially defined for the course.This analysis will allow proposals to be made to improve the qualification, or to eliminate it if the figures are below 20% for 5 consecutive years. To this end CUNEF conducts yearly surveys of alumni, asking them directly, as set out in the SIGC, whether the training they received has or has not proved useful in the pursuit of their profession, and their professional position before (if any) and after completing the qualification.CUNEF  uses this information to conduct a study of whether the study curricula are appropriate or not, as well as the employability or professional prospects of alumni.

If you have any words of suggestion, complaint or acknowledgement that you would like to pass on to us about the Degree in Business Administration and Management, you may use this platform

Suggestions, complaints and acknowledgements box.Degree in Business Administration and Management (BAM)


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