This course will appeal to you if you want to specialise in finance and economics – either immediately after completion of an undergraduate degree or as a mid-career professional. Developed to meet the increasing demand for specialists in finance and economics, you will receive rigorous training in financial economics and mathematics. It combines solid education in economic theory with exposure to the field of finance through several specialised options. As a result, this MSc will help you prepare for a range of exciting career possibilities, in roles such as financial economist or quantitative analyst. You have the option of studying full-time over the course of one year or part-time over the course of two years. The Financial Economics MSc aims to help you:
- Gain combined exposure to the regulatory and policy aspects of finance with world-class academic training in theory and quantitative methods
- Develop your critical and analytical abilities in mathematics and economics
- Prepare academically for a career as a financial economist or quantitative analyst
- Acquire an advanced understanding of modern economic theory relevant to financial topics
- Critically interpret current research in financial economics and evaluate its relevance to financial practice
- Recognise the roles and obligations of the major financial institutions, especially as seen from the point of view of financial regulators and policy makers
- Understand financial markets Perform routine financial calculations, using widely available computer software for the purpose of forecasting, regulation and analysis
- Undertake empirical investigations in the field of financial economics, employing appropriate quantitative methods
- Develop a deep understanding of the strengths and weaknesses of the relevant empirical and theoretical research methodology. Should you with to pursue further study, the dissertation track can also serve as a stepping stone to an Economics or Finance PhD.
You will take 180 credits – two 30-credit taught modules, four 15-credit taught modules and 60 extra credits through one of the following routes:
- Dissertation: you will take a dissertation worth 60 credits.
- Literature survey: you will take two extra elective taught modules of 15 credits each and a literature survey worth 30 credits.
- Dissertation route: two core 30-credit modules (Financial Derivatives and Econometrics), four 15-credit electives with at least three from Group 1 modules.
- Two core 30-credit modules (Financial Derivatives and EITHER Quantitative Methods OR Econometrics);
- Six 15-credit electives with at least three from Group 1 modules.
You will be assessed in a variety of ways to ensure that they have met the formal learning objectives: (1) Individual coursework - in most modules, you will be required to undertake an individual written piece of coursework in the form of an essay, report, set exercises or a piece of analysis based upon a case study. (2) Group coursework - in some modules, the coursework will require you to work in teams of between 3 to 5 persons. (3) Presentations: in some modules, you will make formal presentations to the class, either individually or in groups. The presentation will be assessed by the module lecturer and formal feedback will be given to the student. (4) Computer-based exercises: for some modules, you will need to use software packages to solve problems or perform econometric estimations. (5) Tests and examinations: some modules will require you to take a test or an examination which could be instead of or in addition to other forms of coursework. (6) Dissertation or literature survey: You will be required to undertake a dissertation or a literature survey, Assessment Criteria are descriptions, based on the intended learning outcomes, of the skills, knowledge or attitudes that you need to demonstrate in order to complete an assessment successfully, providing a mechanism by which the quality of an assessment can be measured. Grade- Related Criteria are descriptions of the level of skills, knowledge or attributes that you need to demonstrate in order achieve a certain grade or mark in an assessment, providing a mechanism by which the quality of an assessment can be measured and placed within the overall set of marks. Assessment Criteria and Grade-Related Criteria will be made available to you to support you in completing assessments. These may be provided in programme handbooks, module specifications, on the virtual learning environment or attached to a specific assessment task.
To apply for this course, you should have: - Some mathematical background (A-level, IB, AP or any other equivalent secondary school qualification). - An upper second-class degree (or equivalent) undergraduate degree in Mathematics, Economics or a related discipline (e.g. Finance, Physics, Engineering, Computer Science). Students with a good lower second-class undergraduate degree in one of the above disciplines might be considered on a case-by-case basis. If English is not your first language you will need the following qualification: - IELTS with an overall score of 6.5 (with a minimum of 6.0 for each sub-test) OR - A first degree from a UK university or an overseas institution recognised by City as providing adequate evidence of proficiency in the English language, for example, from institutions in Australia or the USA. All applicants that require a Student visa must meet the minimum Home Office English Language ability requirements before City can issue the Certificate of Acceptance for Study (CAS) that is needed to apply for a Student visa.
Fees and funding