Study program

The Hessen International Summer University Frankfurt offers high quality lectures on current financial and political topics. The program is unique in that it takes place at two different universities in Frankfurt - at the Frankfurt University of Applied Sciences and Goethe University Frankfurt am Main. All courses are taught by professors from Frankfurt UAS or the Goethe University. You will also be given lectures from experts in the field, for example from the European Central Bank.

Classes are taught in a block style and meet daily in the morning and afternoons. Each study track consists of 64 contact hours and is worth 6 ECTS points. You can choose one specialized academic track: European Finance or European Studies. The European Finance track is mainly for undergraduate and graduate students studying Business, Economics, or Finance. The European Studies program is open to undergraduate students studying Humanities and Social Sciences.

European Finance

  • The Challenges of Intercultural Communication

This course features an overview of intercultural studies and the necessity of intercultural competencies for resolving conflicts in business and politics. The following topics will be discussed: types of cultures (national, local, professional, etc.), the pervasiveness and persistence of culture, the important role of values and attitudes, and the process of acculturation. Furthermore, the Hofstede Model, as well as verbal and non-verbal communication will be discussed in detail. Culture shock and cross cultural adjustment will be addressed, as well as cultural profiling, including profiling one’s own cultural styles and competence. Case studies and critical incidents dealing with conflicts in intercultural work situations will be presented.

  • Non-Financial Risk Management in Banks

Risk management is a core competency of banks. Non-financial risks (operational risk, reputational risk and strategic risk) are of growing importance. Nevertheless, the financial crisis has demonstrated that while risk models are fairly advanced at a number of banks, risk culture and risk governance is still not fully developed at many banks. Thus, while presenting some techniques for quantifying non-financial risks, this course is more focused on the qualitative elements of risk management, including case studies on recent examples in the industry.

  • German and European Central Banking

The course will cover the following topics: nature of financial intermediation, overview of the German banking system (three-pillar banking system), changing role of savings banks in Germany and other European countries, and the European debt crisis.

  • Negotiations in Debt Financing

For most entities it is essential to be provided with debt financing. However, it is sometimes a long way from first discussions with the bank about financing needed until the final set of documentation is reached. In this course students will learn the essentials of a term-sheet and how its terms will be integrated into the respective documentation. Students will also learn about the perspectives of entities and banks in this process.

Please download the European Finance Course Outline for more detailed information.

European Studies

  • The Challenges of Intercultural Communication

This course features an overview of intercultural studies and the necessity of intercultural competencies for resolving conflicts in business and politics. The following topics will be discussed: types of cultures (national, local, professional, etc.), the pervasiveness and persistence of culture, the important role of values and attitudes, and the process of acculturation. Furthermore, the Hofstede Model, as well as verbal and non-verbal communication will be discussed in detail. Culture shock and cross cultural adjustment will be addressed, as well as cultural profiling, including profiling one’s own cultural styles and competence. Case studies and critical incidents dealing with conflicts in intercultural work situations will be presented.

  • History of the European Integration

In this course, we will discuss the different approaches of Intergovernmentalism and federalism in the history of European Integration. These historic events, as well as different approaches towards integration and different national cultures, are important to be considered to appropriately analyze the current status of the European Union. Currently, the European Union is at a crossroads, and the choice must be made to develop a deeper integration or revert back to a trade union. Students will discuss the possible role of the Euro and the crisis regarding further cooperation of European states.

  • European Economic and Social Policy

This course will start with an introduction to theories and methods of policy analysis; basic concepts and vocabulary of policy analysis will be explained. It will briefly describe the main EU policy areas (economic policy, agricultural and regional policy, environmental policy, foreign and security policy) and finally, cover European economic and social policies in detail.

  • Introduction to European Central Banking

The seminar on European Central Banking will deal with the main tasks central banks have in the European context, but also compared to other major economies, including monetary policy and price stability, foreign exchange, payments systems issue of legal tender and financial market stability. Moreover, the organization and decision-making processes in field of central banking in the European Union (and with particular emphasis on the European Central Bank) will be discussed and contrasted with other central banks, also from a legal perspective. Furthermore, students will be invited to discuss the work of central banks in relation to the financial crisis and the changes introduced in the light of this crisis, including the Single Supervisory Mechanism where the ECB takes on banking supervisory tasks. The course will focus on the legal aspects, but also cover policy aspects.

  • European Law

This course will give a brief overview regarding the legal foundations, fundamental structural elements, and fundamental rights of European Union law. Moreover, the aim of the course is to present the legal background to harmonization in the field of company law. In addition to presenting the relevant competency clauses of the TFEU and the relevant directives and regulations as instruments of legal harmonization, the course will also deal with the consequences of harmonization for domestic law and the possible consequences of implementing Community standards incorrectly.

Please download the European Studies Course Outline for more detailed information.

German Language Courses

Learn or improve your German while you are here! You will participate in German language courses (3 ECTS points). The courses correspond to different levels of language capabilities and are available for beginning, intermidate, and advanced students.

You will be placed into one of the following courses:

  • German Beginner 1
  • German Beginner 2
  • German Intermediate
  • German Advanced-Business

Please download the German Course Outline for more detailed information.

Credits and Assessment

The study tracks European Finance and European Studies have two units: Unit 1 will take place over the first two weeks and Unit 2 will take place over the last two weeks of the summer course. Each unit has 32 contact hours and is worth 3 ECTS points. By successfully completing the two units within the study track, you will have had 64 contact hours and earned 6 ECTS points. The German language classes are made up of 40 contact hours and worth 3 ECTS points. In total, successful completion of the ISU Frankfurt is worth 9 ECTS points.

Learning will be assessed by an exam following the end of each unit. For example, after the first two weeks, you will take an exam for Unit 1. The exam will last 90 minutes. You will also take a 90-minute exam in the last week of the summer course for Unit 2. German language exams will take place during the third week.

All participants will be issued a Certificate of Participation during the closing ceremony at the end of the ISU Frankfurt. Additionally, all students will receive an official Transcript of Records with their grades and earned ECTS points. The official transcript is signed and stamped by both the Frankfurt UAS and Goethe University. This document can be given to your home university for recognition of credits.

 

Alumni Testimonials

Rocío Domínguez
Universidad de Sevilla
Sevilla, Spain
ISU Frankfurt 2015

"The ISU Frankfurt summer was one of the best experiences of my life. I got to know a beautiful city like Frankfurt, make friends from around the world and increase my knowledge on international finance. The program is very complete, as there are organized activities such as tours through the city, German nights and the great visit to Strasbourg, and also the lectures were really interesting, as they helped me to know better the German and European banking and financial system. This experience has been a great input in my professional career, and opened my eyes, as I am now working on the banking sector. I would highly recommend this program to any young student interested in living new experiences and broadening their knowledge during a great summer."

Anwar Zekhnine
Rotterdam Business School
Rotterdam, The Netherlands
ISU Frankfurt 2014

"What I enjoyed most during my time at ISU was the international vibe. There were so many people from different nations but the staff of ISU managed to make us all feel like home, which I really appreciated! The course content was very up-to-date and relevant which made me really learn a lot about the topic, in my case about the European Union. ISU is a great way to gain lots of knowledge and insights about various topics and meet lots of kind and awesome locals/internationals!"

Matt, Mario, and Meaghan
ISU Frankfurt 2014

"Took a little break from CPA studying today to grab lunch with Mario and Matt! We studied abroad together in Frankfurt at the International Summer University almost 3 years ago. Mario is orginially from Spain and Matt and I went to UMD (University of Massachusetts Dartmouth) together. It's crazy how fast time flies. I'm glad I got to spend a little time with them and catch up!"