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Understanding Mutual Funds and Exchange Traded Funds

Summer School of Business, Economics, Trade, Finance, 10 ECTS
Economics, commerce, management and accounting

Institution Aarhus University (AU)
Campus Aarhus
Duration 3 weeks
Tuition per term (Non-EU/EAA/CH) 1700 EUR
Tuition per term (EU/EAA/CH) 680 EUR

For anyone interested in analyzing securities or managing investment portfolios the knowledge of investment companies is essential.  All three type of investment companies, namely open-end (OEFs), closed-end (CEFs) and exchange traded funds (ETFs) are garnering increasing assets under their management and oversight.  

This course will provide you with a good understanding of all three such investment companies. It will include a unique mix of discussion of the theory behind the design of these vehicles and challenges faced by practitioners in the implementation and management of these funds.   Specifically, you will learn how these companies are designed and operated.  We will also study why they are so popular with investors and you will develop an understanding of various strategies undertaken by these companies.

This includes a comparison of passive, aggressive and hybrid (smart beta or rules based) investment strategies.  With respect to ETFs a significant portion of the course will be dedicated to the design and benefits of ETFs.  We will also discuss the peculiarities and special features of sector and leveraged ETFs that investors need to take into account when investing in such securities. 

Learning will take place through quizzes, term paper and presentation of term paper findings and an open book final exam.

About the Degree

This is a summer course that counts 5 or 10 ECTS. 


  • You must be enrolled in a university programme at the time of the AU Summer University
  • If you are applying for admission to AU Summer University courses at the Master level, you must hold a relevant Bachelor's degree (or as a minimum 180 ECTS in your study programme
  • The application deadline is March 15th


The tuition fee varies from course to course. Find the price on the individual course page. Find more information here

For Further Information

You can find more information on the programme here
If you have any questions regarding the programme please write


Application date
Mar 15
Start date
Jul 24


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