IBUS 4125: Global Banking in Europe
Undergraduate Global Enrichment in France and the UKProgram Dates:
This program is closed and not accepting applications for fall 2024/January 2025. Â Applications for January 2026 will open on March 1, 2025.
Class Sessions: Mondays and Wednesdays, 3:45pm - 5:25pm -Â Fall Semester 2024, B-term only
Overseas Program:Â Saturday, January 4, 2025 - Saturday, January 18, 2025, dates subject to change
Program Details
The purpose of this course is to provide students with an understanding of the functions of large, global banking organizations. We will start with a review of the impact of the financial crisis on the regulatory landscape, and identify some of the key differences between U.S., European, and Global regulatory frameworks. We will discuss the different business models adopted by banks in Europe compared to the United States. We will look at how those different business models are reflected in financial statements, and learn how to interpret bank financial statements through ratio analysis. Finally, we will discuss the impact of digital disruption, and how it is forcing banks to consider new strategic directions.
Historically, London has been the banking capital of Europe. However, the 2020 "Brexit" started a shift toward continental Europe and Paris is quickly becoming the epicenter of European finance. Each country boasts long history and deep cultural roots providing students a unique multi-country view of Europe and its banking and financial systems.
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The program hotel(s) will be conveniently located to program activities. Hotel specifics will be provided to participants in the program orientation. Because networking and community-building are essential components of the program, the expectation is that students will share a room with another program participant. If there are other accommodations that would support a student's access and inclusion on the program, there is an opportunity to request such preferences in the Housing Request Form after confirmation in the program. Guests are not permitted during the program. Breakfast will be provided daily at the hotels. A welcome dinner and closing dinner are also included in the program fee.
- 4 credits;Â either 2 Finance (FINA) elective credits or 2 Finance & Risk Management elective credits are allotted
- A-F grading
- Prerequisite: FINA 4121. Students may complete FINA 4121 in A-term immediately prior to start of IBUS 4125 in B-term but must pass the course in order to participate in IBUS 4125.
- Prerequisite FINA 4121. Students may complete FINA 4121 in A-term immediately prior to start of IBUS 4125 in B-term but must pass the course in order to attend IBUS 4125.
- Priority will go to students who have 100+ credits. If you are a student with alternative considerations, such as DRC accommodations for a reduced courseload, please contact the Program Manager to discuss how we can support your application.
- Non Carlson students accepted on a space available basis after the priority deadline
- Students with a GPA below 2.0 will be conditionally accepted pending a conversation with the Program Manager about academic success
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U.S. citizens will need a valid passport to travel to France and the UK. If you already have a passport, you need to check the expiration date and confirm that it is more than seven months after the program ends. If you do not have a passport, or your passport needs to be renewed, you will need to apply for one immediately upon confirmation.
A visa is a document that proves that travel into a particular country has been approved by their governing body. U.S. citizens do not need a visa for visits up to 90 days for tourism in the UK or France. Non-U.S. passport holders should check with the British and French consulates regarding visa requirements and fees. A consulate is a foreign government's official place of residence and representation in a foreign country. While consulates provide passports, birth registration, and many other services, they also have consular sections which issue visas for foreign citizens to visit, study, and work in their country. If you carry a passport other than a U.S. passport and are required to carry a visa into Europe, you will be responsible for securing your visa; you will work closely with the Program Manager (Candice Bonrud) to make sure you have any University-specific documentation that you need.
To apply, please visit the Apply page. Students will be charged a $50 application fee. The application cycle starts on March 1, 2024 and the priority deadline is 12:00 pm (noon) on April 1, 2024. Applications for programs that do not fill by the priority deadline will be accepted on a rolling basis until full. Applications to competitive programs will be selected via lottery. Students will be informed of their application decision in about seven to ten days after the priority deadline.
This tends to be a very competitive program and space is limited. Applications received after the priority noon deadline may not be reviewed if the volume of applications received by the priority deadline is too high.Â
Most financial aid may be applied to study abroad. University of Minnesota students are eligible for education abroad scholarships. Please see Financial Aid and Scholarships for more information.
Up to 30 University of Minnesota undergraduate students.
Classes are Mondays and Wednesdays from 3:45pm - 5:25pm, 2024 Fall Semester B-term. This course will be taught by Jason Turkiela, Senior Lecturer in the Finance Department. The pre-departure classes are a fundamental component of the curriculum. These pre-departure classes are partly discussion-based given the broad range of diverse and complex challenges faced in international business, and therefore the quality of the student experience is dependent upon all students attending and participating in the pre-departure classes.
In order to be eligible to participate in the international portion of this class, students must maintain satisfactory academic performance as determined by the instructor. If your academic performance prevents you from participating in the international component of the course, you will not receive a refund of the program fee. Please bring any concerns about this directly to the Program Manager (Candice Bonrud).
The program starts with a city tour and welcome dinner. The program includes guest lectures, company visits, and cultural activities. Included in the program is time for a small amount of independent exploration.
Please contact Program Manager, Candice Bonrud, if you have additional questions about the schedule.
Cost Estimate (Summary)
Fees are based on estimates and may change due to international economic factors. This information applies to 2024-2025 programs.
* Students should also maintain their U.S.-based health insurance plan while abroad.
** Costs are estimated for U.S. passport holders only. Non-U.S. passport holders should check with the British and French consulates regarding the visa application process and costs.
All costs are subject to change prior to departure.
| 2024-2025 Tuition for 4 academic credits (included in the 13+ credit tuition plateau) | $0 | |||
| Program Fee (including group international flight, lodging, program events, regional transportation, breakfast daily, two group meals, and international health insurance*) | $5,225** to be approved for 2025 | |||
| International airfare to and from Minnesota to Europe (included in Program Fee, above) | $0 | |||
| Hotel Accommodation (included in Program Fee, above) | $0 | |||
| Passport and Photos** | $165 | |||
| Textbooks | $100 | |||
| Daily Living Expenses (local transportation, incidentals, internet, laundry, etc.) | $300 | |||
| Meals (lunch and dinners not included in Program Fee) | $600 | |||
| ETIAS Fee | $7.50 | |||
| Total | $6,272.50 |