Finance MSc

This course seeks to provide you with the specialist financial skills and knowledge needed to pursue a career in a finance-related position, across a variety of businesses, organisations and sectors, including banking and investment.

By offering you the choice of three sector-specific pathways, this course focuses on helping you understand how to practically apply your learning and consider current developments within finance and the wider world.

This course should help you to understand the importance of finance to corporations, banks, stock markets and investors, not just in the UK but overseas as well. The course’s international content is designed to help develop you into a global-ready graduate, able to work effectively in a variety of markets.

Additionally, this course is part of the Chartered Financial Analyst (CFA) Institute’s University Affiliation Program and is designed to help with your preparations for the CFA Program exams.

Modules

• Semester one modules:

  Semester one is common to all pathways and is designed to give you the chance to further develop your understanding of core financial topics.

  Compulsory

• Corporate Finance – 15 credits

  The aim of the module is to examine and critique key corporate finance issues, including financial management, risk and return, corporate financing and asset pricing, capital structure and payout policy. The module will take an international perspective and explore both theoretical models and empirical evidence.

  Compulsory

• Quantitative Methods – 15 credits

  This module will cover some of the quantitative techniques commonly used by financial analysts, economists, accountants as well as individual investors. The aim is to give you the basic grounding in econometric methods used in the analysis of quantitative data.

  Compulsory

• Derivatives – 15 credits

  This module focuses on the major classes of derivatives and on the uses of these instruments in hedging, regulatory arbitrage, price discovery, arbitrage and speculation. You will be exposed to both introductory and advanced aspects of the theory and applications of all major classes of derivative products.

  Compulsory

• Governance, Accountability and Ethics – 15 credits

  The aim of this module is to provide you with a framework to examine the key issues in corporate governance. These include underlying corporate governance theory and associated reporting and regulation, the role of monitors and issues of independence and ethics. It will also develop your ability to critically appraise relevant academic literature and current issues, then integrate and synthesise topics in order to participate in current debates and suggest potential insights for development.

  Compulsory

• Semester two pathways and associated modules*

  In your second semester, you can pick one of three pathways, each of which requires you to study four different mandatory modules. This flexibility aims to allow you to focus on the area of finance that most interests you. The three pathways are Finance, Banking and Investment Management.

  Please note that the final award for this degree will be Finance MSc, regardless of the pathway chosen, which will not appear on the degree awarded.

  Compulsory

• Finance pathway
  • Behavioural Finance – 15 credits
    This module aims to equip you with an understanding of how psychological and sociological factors influence financial decision-making. They should be able to identify possible biases in investment analysis and portfolio management arising from cognitive, affective and social influences. You should be able to use behavioural finance insights in the process of structuring saving and investment schemes.
  • International Risk Management – 15 credits
    The purpose of this module is to introduce you to the international aspect of risk management faced on a day-to-day basis by modern MNCs and especially those of political, financial, operational and regulatory nature. Particular attention and detailed coverage will be placed on the ideas and tools used in identifying exposure to risk inherent in corporate functions such as international trade and money transactions, corporate financing and finally international investment/expansion decisions.
  • Institutional Investments – 15 credits
    During this module, you will develop further knowledge of institutional investments and their relative merits, from the perspective of retail investors. You will gain insights into the operation and management of institutional investments and the specific types of investment funds available.
  • Financial Statement Analysis – 15 credits
    This module is designed to provide you with a comprehensive understanding of the content and purpose of a company’s annual report and published financial statements. The module also considers the accounting treatment of intangible non-current assets, the problems in attaching monetary values to these and how this impacts the usefulness of published financial statements.

  Compulsory

• Banking pathway
  • International Banking – 15 credits
    This module examines the underlying principles and characteristics of banks that are the foundation for understanding both their role and existence in an increasingly competitive global environment. The aim is to equip you with the necessary tools and concepts to be able to explain the role and importance of banks in financial intermediation, their fundamental characteristics as depository institutions, the management of risk involved in their operations, and how regulation addresses some of the risks. In this context, the module will specifically examine the recent developments in international banking and assess the implications of changes in banks' risk management.
  • Credit Risk Management – 15 credits
    This module aims to give you a clear understanding of the issues relating to the roles of credit risk management in financial institutions. You will learn to examine different aspects of the process of credit assessment in relation to the key areas of banking business, i.e. corporate and retail lending. You are expected to be familiar with the techniques for the prediction of corporate bankruptcy, country risk analysis and consumer credit, and to justify how these techniques can be used as practical tools in financial decision making. This module will examine theory and practice, and will draw on contemporary case studies and examples from around the world.
  • Banking Regulation – 15 credits
    This module aims to critically analyse the ways in which regulation seeks to ensure the integrity and stability of banks and the financial sector as a whole. Learning will be evidence-led and practice-based, being structured around critical policy-relevant questions in banking regulation. Upon completion of the module, you should be able to assess both the impact that a variety of regulation mechanisms can have on banks, as well as the potential costs and benefits that may arise from them. You will be required to critically analyse recent developments in regulatory policy across a variety of countries, thereby introducing an international element to the module. You will also be required to assess the recent focus on financial conduct to protect the interests of consumers.
  • Economics of Money and Banking – 15 credits
    This module aims to provide a more detailed discussion of the key issues in the theory and practice of banking, financial market and monetary policy by linking models of money, banking and finance into one generic or foundation view. It also examines how these macro principles can be used to model the interaction among sectors in the economy.

  Compulsory

• Investment Management pathway
  • Fund Management – 15 credits
    The aim of this module is to investigate the nature of fund management in a regulated environment and explore how effective diversification can be achieved. You will learn how to use alternative approaches (active versus passive management) to portfolio/fund construction, and how to measure a fund's performance in a way that accounts for the risks that have been taken.
  • Equity Investment Using Thomson-Reuters Eikon – 15 credits
    This module provides an opportunity for you to gain experience with one of the major financial databases used by investment management professionals⁴. You will use the database to explore equity investment decision strategies using market-timing-based technical analysis techniques and also using stock picking strategies based on elements of fundamental analysis. The use of Thomson-Reuters Eikon real market data will mean that you’ll encounter an environment similar to that experienced by investment management professionals.
  • Bond Market Analysis Using Bloomberg – 15 credits
    This module aims to develop your ability to undertake an advanced analytical study of the bond markets. You will be exposed to both introductory and advanced aspects of the theory and applications of the bond market, which will give you the opportunity to gain experience⁴ with another one of the major financial databases used by investment management professionals.
  • The Foreign Exchange Markets – 15 credits
    This module provides an essential starting point in examining the foreign exchange (FX) markets, the risks arising from uncertainty in foreign exchange rates, and how companies and banks in particular can mitigate foreign exchange risk using a wide range of techniques, including derivatives. It also reviews the economic framework of the FX market, identifies key market players, and explores the importance of liquidity and pricing. This is done not only by exploring the theoretical concepts but importantly, by also applying these ideas using contemporary, practical, real-world case studies.

  Compulsory

• Semester three - Project and the Professional Development modules

  In your final semester, all students must undertake the Project and the Professional Development modules.

  • Dissertation/Consultancy Project – 50 credits
    As part of this module, you can either conduct traditional research on a topic of your choice or pursue a consultancy project in the form of a company internship². You will be expected to draw upon the knowledge acquired, and the intellectual, technical and analytical skills developed during the course.
  • Professional Development Module: Entrepreneurial Practice – 10 credits
    This module aims to provide you with a framework of knowledge and understanding of how to effectively lead and develop people in a strategic and entrepreneurial way whatever the master’s degree of specialisation they elect to follow.
    The module empowers you to reflect critically on your personal learning and development needs and how you work with others, from an ethical and professional standpoint, to encourage your continuing professional development.
    The Professional Development module was developed in partnership with the Chartered Management Institute (CMI). It focuses on consultancy and can lead to a professional qualification upon successful completion. Please see the Accreditation and Professional Recognition Section for further details.
    
    

  Compulsory