MSc Development Finance

For entry in the academic year beginning September 2027, the tuition fees are as follows:

• MSc (full-time)
  UK students (per annum): £16,000
  International, including EU, students (per annum): £33,100

The fees quoted above are fully inclusive of tuition, administration and computational costs.

Fees for entry are subject to yearly review. The University reserves the right to increase your tuition fee by up to 7% each year for courses lasting more than one year, including to reflect rising costs associated with delivering our educational and wider student experience. Postgraduate fees information .

Always contact the admissions team if you are unsure which fee applies to your qualification award and method of attendance.

International student CAS deposit

Self-funded international applicants are required to pay a deposit of £2500 towards their tuition fees before a confirmation of acceptance for studies (CAS) is issued. Some applicants will be required to pay a higher deposit. More information on tuition fee deposits .

All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).

We know that student finance can be complicated. The links below provide further information to help guide you.

• Learn more about - student finance options for UK students .
• Learn more about - fees and finance for international students .
• Graduates of The University of Manchester and Manchester Metropolitan University can receive a 10% discount on their master's degree tuition fees as part of our Manchester Alumni Loyalty Discount scheme.

This module provides students with an understanding of the history of microfinance and challenges faced by the industry. It explores the theoretical base and practices of microfinance, and major debates in the area. It also helps students develop a critical thinking on the effectiveness of microfinance as a poverty reduction tool in less-developed countries.

During the last four decades, a `microfinance industry' has developed that seeks to provide low-income people with micro-financial services while being financially self-sustaining. The literature on microfinance has been characterised by different trends during this period and this module aims to analyse these trends in detail, particularly in developing countries and to explore key contemporary issues in the sector. This is done by exploring the history, theoretical base, development and challenges in the sector.

On completion of this course unit, students will be able to

• demonstrate the awareness of current issues and debate in the field of microfinance
• analyse and evaluate microfinance experiences and case studies, and critically assess proposals for microfinance initiatives.

introduction to microfinance

macro aspects of microfinance

microfinance and poverty

microfinance and gender empowerment

microfinance innovation and micro insurance

regulation of microfinance

microfinance and financial inclusion

governance of microfinance institutions

performance of microfinance institutions

 impact assessments of microfinance

Identify the supplementary methods used in the provision of teaching and learning on this course unit.

This is additional to that identified by the Scheduled Activity Hours and Assessment Methods fields.

The major teaching and learning strategies for this course are lectures, discussions and independent learning. Lectures will be used mainly for the exposition of concepts and methodologies thereby contributing to the primary objective of providing students with an in depth knowledge of the major issues in microfinance. Students are expected to go through some of the reading materials before the lectures in order to benefit during the discussion. In-class discussion is an important part of the teaching and learning strategy and the students will have an opportunity to consolidate, develop and apply the knowledge acquired from the lectures and independent learning. In independent learning students are encouraged to broaden and deepen their understanding of the module by studying on their own main, and utilise and snowball the resources mentioned and discussed in the classes.

obtain the knowledge of the origin and development of microfinance, develop an understanding of the theoretical base and different models of microfinance, and obtain a comprehensive understanding of empirical evidence of microfinance’s impact on poverty reduction.

•           Critically demonstrate the awareness of current issues and debate in the field of microfinance

•           Analyse, and evaluate microfinance experiences and case studies and critically assess proposals for microfinance initiatives

Critical thinking

Presentation, teamwork, essay writing

Written feedback will be given through Turnitin.

Specific readings are given at individual lectures. It is important that you read them before going to the classes.

General readings on microfinance

• David Hulme and Thankom Arun (2009), Microfinance - A Reader, Routledge.
• Beatriz Armendariz and Jonathan Morduch (2010), The Economics of Microfinance (second edition), MIT Press.
• Ditcher Thomas and Malcolm Harper (2007) What’s wrong with Microfinance?, Practical Action Publishing.
• Roodman, D. (2012), Due Diligence: An Impertinent Inquiry into Microfinance, CGD Books.