Master of Science
MSc Development Finance
Due to high demand for this course, we operate a staged admissions process with multiple selection deadlines throughout the year, to maintain a fair and transparent approach.
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Overview
Course overview
Develop the financial and analytical expertise needed to address development challenges and support sustainable economic growth.
- Prepare for careers in development finance, international financial institutions, investment, consultancy, government and international development.
- Study at a university ranked in the world's top five for Development Studies (QS World University Rankings by Subject 2026).
- Explore how financial systems, institutions and markets can support economic development and poverty reduction.
- Gain specialist knowledge at the intersection of finance, economics and international development.
Our students. Real experiences. Visit the Students Stories page to hear from our students as they share what it's really like to study here.
A study experience that makes a difference
We place social responsibility at the heart of your learning which means you can take advantage of unique ways to make a difference while studying with us, through your course or through extra-curricular activities.
- Complete our Ethical Grand Challenges to learn how you can create a better world and become more socially responsible.
- Work with an external organisation to tackle real-world sustainability problems through our University Living Lab.
- Discover subjects that broaden your horizon with our interdisciplinary learning opportunities.
Explore how you'll make your mark
Every course at Manchester contributes towards the UN's Sustainable Development Goals, so no matter what you're studying you'll be playing an active role in the protection of people and planet.
You will explore the following goals in your course:
- Goal 1: No poverty
Open days
The University holds regular events throughout the year, including webinars and the annual on-campus Master’s Expo, all of which offer the opportunity to find out more about our facilities and courses from our academic and admissions staff.
We also attend a number of education fairs both in the UK and overseas throughout the year.
For more details on how you can meet us, visit out events page: https://www.manchester.ac.uk/study/masters/meet-us/
Contact details
- School/Faculty
- School of Environment, Education and Development
- Contact name
- School of Environment, Education and Development +44 (0) 161 275 2814
- Telephone
- +44 (0) 161 275 2814
- GDI.admissions@manchester.ac.uk
- Website
- http://www.seed.manchester.ac.uk/
- School/Faculty overview
-
See: The School .
Courses in related subject areas
Use the links below to view lists of courses in related subject areas.
Entry requirements
Academic entry qualification overview
We require a UK Honours degree with a First or Upper Second (2.1) classification or the overseas equivalent in Economics or a related discipline. Candidates should demonstrate a background in microeconomics, macroeconomics and statistics and achieve scores of 2.1 or above in relevant modules.
When assessing your academic record we take into account the grades you have achieved and the standing of the institution where you studied your qualification.
English language
For the latest information on demonstrating your English proficiency for those whose first language is not English, please see our language requirements .
This programme also accepts successful completion of the 6- and 10-week pre-sessional English Language course. We accept the following qualifications which must be valid on the start date of the Master's course:
Pre-sessional 6 week course requirement:
IELTS UKVI or Academic 6.5 Overall with 6.5 in Writing and Speaking, and 6.0 in Listening and Reading OR IELTS 7.0 Overall with 6.5 in Writing or Speaking, and no other sub-skill below 6.0
TOEFL iBT 90 Overall with 22 in Writing and Speaking, and 20 in Listening and Reading OR TOEFL iBT 100 Overall with 22 in Writing or Speaking, and no other sub-skill below 20
TOEFL iBT (6-point scale) 4.5 Overall with no sub-skill below 4.5
Pearson PTE Academic UKVI or Academic 70 Overall with 70 in Writing and Speaking, and 65 in Listening and Reading OR Pearson PTE Academic UKVI or Academic 76 Overall with 70 in Writing or Speaking, and no other sub-skill below 65
Pre-sessional 10 week course requirement:
IELTS UKVI or Academic 6.5 Overall with no sub-skill below 6.0
TOEFL iBT 90 Overall with no sub-skill below 20
TOEFL iBT (6-point scale) 4.5 Overall with 4.5 in two sub-skills, and no other sub-skill below 4.0
Pearson PTE Academic UKVI or Academic 70 Overall with no sub-skill below 65
English language test validity
Some English Language test results are only valid for two years. Your English Language test report must be valid on the start date of the Master's course.
Other international entry requirements
Professional entry qualification
Fees and funding
Fees
Fees for entry in 2027 have not yet been set. For reference, the fees for the academic year beginning September 2026 were as follows:
-
MSc (full-time)
UK students (per annum): £15,200
International, including EU, students (per annum): £31,500
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 .
Policy on additional costs
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).
Scholarships/sponsorships
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.
Application and selection
How to apply
Staged admissions
As there is a high demand for our courses, we operate a staged admissions process with selection deadlines throughout the year.
Due to the competition for places and high quality of applications that we receive, we give preference to students from high-ranking institutions and with grades above our minimum entry requirements.
Please ensure you submit all supporting documentation with your application before the application deadline to avoid a delay in processing.
•Stage 1: Application received by 06 December 202 - Application update by 19 February 2027
•Stage 2: Application received by 01 March 2027 - Application update by 02 May 2027
•Stage 3: Application received by 04 May 2027 - Application update by 18 June 2027
•Stage 4: Application received by 04 July 2027 - Application update by 30 July 2027
While we aim to give you a decision on your application by the deadline date, in some instances due to the competition for places and the volume of applications received, it may be necessary to roll your application forward to the next deadline date.
Applications received after our final selection deadline will be considered at our discretion if places are still available.
Please note, all places are subject to availability and if you apply at one of the later stages, some courses may already be reaching capacity or be closed to further applications. We, therefore, recommend that you apply early in the cycle to avoid disappointment.
Advice to applicants
Please submit the following documents with your completed application form:
- copies of official degree certificates and transcripts of your previous study, showing the subjects taken and grades obtained. If these documents are in languages other thanEnglish,please provide official translations;
- copies of English Language Certification,e.g.IELTS, TOEFL iBT or Pearson test score report if available at the time of application;
- your CV.
Ensure that you enclose all the necessary documents, as the delay caused in having to seek any missing documents from you might adversely prejudice your application.
Deposit information
We ask for the deposit as competition for places is high and there is limited availability.
When you have been made an offer, you will be required to pay a £2,500 deposit by the deadline date stated in your offer letterbefore you can beaccepted on this course. The deposit amount will be deducted from your tuition fees when you register on the course.
The deposit is non-refundable, except in the following situations:
- You fail to meet the conditions of your offer.
- You are refused a visa or entry clearance to enter the UK.
- Your application for government funding has been unsuccessful.
Evidence must be provided before a refund will be processed under any of the circumstances above.
If your offer specifies an English Language condition which you do not meet, the Admissions Team will require the official certificate of an English Language test taken after the date of the offer as evidence that you have attempted to meet your offer conditions. The English language test certificate provided with your application documents is not accepted as proof that you have attempted to meet your offer conditions as it will predate the offer.
If your offer specifies an academic condition, the Admissions Team will require official university documentation showing that you have not met the condition from the institution at which you studied as evidence.
The Admissions Team reserves the right to refuse a refund of your deposit that does not meet with the requirements outlined above.
Deferrals
Applications for deferred entry are not accepted for this course. If you receive an offer and wish to be considered for the following year of entry, you will need to place a new application. Please be aware, there is no guarantee of receiving another offer, and offer conditions are subject to change in line with entry requirements.
Re-applications
If you applied in the previous year and your application was not successful you may apply again. Your application will be considered against the standard course entry criteria for that year of entry.
In your new application, you should demonstrate how your application has improved. We may draw upon all information from your previous applications or any previous registrations at the University as a student when assessing your suitability for your chosen course.
Course details
Course description
I decided to study the MSc of Development Finance at the University of Manchester, one of the highest-ranking centres located in an exciting place to live and study.
Studying at this University, the home of the Nobel Prize winner, Sir Arthur Lewis, and becoming a member of the Global Development Institute (GDI) among the top 10 places for development studies was more than enough reasons for me to choose The University of Manchester to study this course.
Shahryar Mahmoodzadeh / MSc Development Finance
Develop the financial knowledge and analytical skills needed to support sustainable development.
MSc Development Finance explores the relationship between finance and development, examining how financial systems, institutions and policies can contribute to economic growth, poverty reduction and wider development goals. The course provides a strong understanding of the role finance plays in addressing global development challenges and creating opportunities for sustainable and inclusive growth.
Delivered within the Global Development Institute, the programme combines insights from development studies, economics and finance. You will examine issues such as financial inclusion, investment, banking, development policy and the role of financial institutions in developing and transitional economies.
Through engagement with contemporary debates and real-world development challenges, you will develop the ability to analyse financial and economic issues, evaluate policy approaches and understand the opportunities and limitations of finance as a driver of development. The course equips you with both conceptual knowledge and practical analytical skills that are valued across a range of sectors.
You will learn from academics whose research addresses poverty, inequality, development policy, finance and economic transformation. Studying within one of the world's leading centres for Development Studies also provides opportunities to engage with an international community of students and researchers.
The programme is suitable for students interested in careers within international development, finance, government, policy, consultancy and development-focused organisations, as well as those considering further academic research.
Aims
On completion of the course, you will have acquired the following skills and capabilities:
- an ability to critically analyse the techniques and procedures for financial sector development, management and accounting;
- an ability to apply these techniques and procedures in a professionally competent manner;
- the ability to undertake independent research, and to present research findings in a form that can be disseminated effectively to users.
Special features
- We're Europe's largest dedicated development research and teaching institute and have been at the forefront of development studies for over 60 years .
- We bring cutting-edge insights from our research into all our postgraduate teaching. Our courses bring different development perspectives and voices to Manchester, from activists from the Global South to the leaders of multinational companies.
- We are home to the internationally recognised Effective States and Inclusive Development and FutureDAMS research centres.
- Students are part of our vibrant research community this includes our public lecture series which brings world experts, former heads of state, and leading development thinkers, to discuss current issues in development.
- We have numerous scholarship opportunities for outstanding applicants.
Coursework and assessment
The taught element of the course, carrying 120 credits overall, is continuously assessed by a variety of methods (eg, project-based reports, essays), involving largely individual submissions, but also elements of group work.
You must also complete a 12,000-15,000-word dissertation on a topic of your choice approved by the Programme Directors.
You are encouraged to base your dissertation on topics of direct professional concern.
Course unit details
A master’s degree is formed of 180 credits.
120 of these credits are made up by a mix of mandatory and optional course units, with 60 credits taken in each semester.
The availability of individual course units may be subject to change. Information that is sent to you in August about registration onto the course will clearly state the course units that are available in the academic year ahead.
The remaining 60 credits are awarded through a compulsory research component in the form of a dissertation. Your dissertation must be within the area of one of the course units you have chosen and you will be assigned an academic dissertation-advisor who is experienced in your chosen field.
Course unit list
The course unit details given below are subject to change, and are the latest example of the curriculum available on this course of study.
| Title | Code | Credit rating | Mandatory/optional |
|---|---|---|---|
| MGDI60301 | 15 | Mandatory | |
| MGDI60362 | 15 | Mandatory | |
| MGDI60711 | 15 | Mandatory | |
| MGDI72121 | 15 | Mandatory | |
| MGDI72162 | 15 | Mandatory | |
| MGDI60031 | 15 | Optional | |
| MGDI60081 | 15 | Optional | |
| MGDI60191 | 15 | Optional | |
| MGDI60202 | 15 | Optional | |
| MGDI60291 | 15 | Optional | |
| Displaying 10 of 22 course units | |||
| Display all course units | |||
What our students say
Disability support
Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service.
For more information, email dass@manchester.ac.uk
Careers
Career opportunities
Graduates develop financial, analytical and policy skills that are valued across international development, government, finance and consultancy.
Potential career paths include:
- Development finance
- International financial institutions
- Development banking
- Financial inclusion and microfinance
- Economic policy
- Government and public sector roles
- Development consultancy
- International development organisations
- Research and analysis
- Doctoral study (PhD)
The programme is particularly relevant for students interested in how financial systems and investment can contribute to economic development, poverty reduction and sustainable growth. It also provides a strong foundation for further academic research.
Careers support
This course supports students interested in careers across development finance, economics, policy, consultancy and international development.
The University has its own dedicated Careers Service that you would have full access to as a student and for two years after you graduate.
At Manchester you will have access to a number of opportunities to help boost your employability .
Careers support for international students
The Careers Service provides specialist resources, advice and events to help with career planning and making the most of your time while studying in Manchester.
- Working in the UK after study
- Working during study
- Professional and alumni networks for international students
Global networks
The University of Manchester is proud to have the largest global alumni community of any campus-based university in the UK.
After your course, you'll join our 10,000 strong alumni network .
We'll keep you up to date with all the new insights and implications from our research.
International alumni groups are a great way to keep in touch with fellow Manchester graduates in your country.
It is an opportunity to build professional and social networks.
You can view the alumni networks already operating across the globe here .
Regulated by the Office for Students
The University of Manchester is regulated by the Office for Students (OfS). The OfS aims to help students succeed in Higher Education by ensuring they receive excellent information and guidance, get high quality education that prepares them for the future and by protecting their interests. More information can be found at the OfS website.
You can find regulations and policies relating to student life at The University of Manchester, including our Degree Regulations and Complaints Procedure, on our regulations website.
