Financial Economics MSc

The goals of the Programme

The demand for highly skilled experts in financial economics continues to increase rapidly in the modern economy. This demand exists in the public sector (central banks, international organisations, academic institutions) and especially in the private sector (commercial banks and insurance companies). This course is designed to meet this demand for those students who seek a quantitative degree in financial economics, by combining a solid training in microeconomic and macroeconomic principles, as well as the quantitative methods and theory needed for the analysis of financial markets.

The subject of Financial Economics

Financial Economics is a fascinating area, having a history marked by outstanding achievements. A remarkable feature of this discipline is that its theoretical highlights (such as the Black-Scholes formula) turned out to be extremely important in practice. Fundamental ideas and tools of Financial Economics that were developed at the interface between Mathematical Economics and Finance created new markets essentially based on concepts suggested by academics. A central goal of the course is to demonstrate the use of these ideas and tools in contexts where they are indispensable and widely exploited. The course will expose students to quantitative techniques and theory that will be useful to any actor in the financial industry - a portfolio manager, risk management consultant, or financial analyst.

The program offers four core units in Semester 1 (Macroeconomics, Microeconomics, Econometric Methods, Mathematical Economics or Mathematical Methods in Economic Analysis) and in Semester 2 three core units (Mathematical Finance, Financial Economics, Financial Econometrics or Applied Macroeconometrics or Cross Section Econometrics) plus one optional module from a list of choices (e.g., Monetary Economics, Public Economics, and Economic Growth).  Click for course unit information Such modules as Mathematical Finance and Financial Economics not only contain the material which is a recognised classic in the field, but also reflect new trends in the area (e.g. elements of Behavioural Economics and Finance).

Academic entry qualification overview:

2:1 hons degree in Economics, Finance or related subject (eg Maths, Stats) or overseas equivalent. Candidates should have studied econometrics, microeconomics & macroeconomics, with at least one of these subjects in their final year of u/g studies. Students who do not meet these entry criteria may be eligible for the MA in Economics.

In addition to the normal supporting documents, applicants for the MSc Financial Economics must also supply the following:

- A brief description of any econometrics/macro/micro economics/mathematics and statistics courses taken on their undergraduate degree, detailing core texts used. This does not have to be an official document. A paragraph for each course unit taken will be sufficient. Go to the Files to Download tab for an example of what is required.

MATHEMATICS AND STATISTICS PREPARATION FOR THE MSc

1. Please visit our pre-session maths website where you will find information about the minimum level of knowledge of mathematics and statistics that you should possess from your current or previous training.

2. On the same website, please look at the details and content of our Pre-Session course on mathematics and statistics which builds on the knowledge resumed in (1) and which is designed to equip you with further tecnhical skills that you will require before starting the MSc. You are strongly advised to attend this course which is offered, free of charge.  The course will run during induction week and we recommend that you spend some time between now and September 2013 studying and familiarising yourself with the course material on the website, especially if you might not be able to attend the course.

English language:

IELTS - overall score of 7, including 7 in writing with no further component score below 6.0

TOEFL IBT - overall score of 100 with 25 in each section.

TOEFL code for Manchester is 0757

Scores are valid for 2 years.

For students who require a Tier 4 visa to study in the UK, your test score is valid for 2 years preceding the date that your CAS (Confirmation of Acceptance for Studies) is issued.  CAS statements will be issued from June-September 2013.

For example;

Test taken on or after 1 June 2011 - CAS issued June 2013 = Score is VALID

Test taken before 1 June 2011 = Score is INVALID

Please note that CAS statements are issued only when all conditions of the offer have been satisfied, PDF copy of passport received and the offer accepted.

Applicants from certain countries MAY be exempt from having to provide an IELTS or TOEFL score.  Please email us for advice.

IMPORTANT NOTE ON PART-TIME STUDY

Part-time students complete the full-time programme over two years.  There are NO evening or weekend course units available on the part-time programme.  

You must first check the schedule of the compulsory modules and then select your optional modules to suit your requirements.  

Updated timetable information will be available from mid-August and you will have the opportunity to discuss your module choices during induction week with your Course Director

Employment opportunities for students in Financial Economics are traditionally very good. The high reputation of the University of Manchester, and especially its Economics division having rich historical traditions, will serve as an excellent recommendation for job applicants. The high-quality training obtained in the course of the study within the MSc in Financial Economics Programme will facilitate the future career of those who have got this degree.

School of Social Sciences

See: School Disciplines

Contact name: Janet Smith

Telephone: 0161 275 4471

Facsimile: 0161 275 2450

Email: pg-soss@manchester.ac.uk

Website: www.socialsciences.manchester.ac.uk/disciplines/economics/postgraduate/

• UG_Example_-_Course_module.pdf (PDF, 10 KB)