MSc Financial Economics

Year of entry: 2020

Overview

Degree awarded
Master of Science (MSc)
Duration
1 year (full-time); 2 years (part-time)
Entry requirements

A UK 2:1 honours degree (or overseas equivalent) in economics, finance, mathematics or a related subject with economic theory, mathematics and econometrics studied at a high level.

When applying, please submit these supporting documents, in addition to the on-line form:

  • copy of transcript from undergraduate degrees (interim transcripts are acceptable if you have not yet finished the degree);
  • English language evidence (for applicants from non-native English speaking countries.

Full entry requirements

How to apply
Apply online

Course options

Full-time Part-time Full-time distance learning Part-time distance learning
MSc Y Y N N

Course overview

  • Apply your interest and skills in economics to the study of financial markets
  • Benefit from a combination of rigorous training in core economics with a solid introduction to the key theoretical techniques used in finance
  • Learn the skills to work as a portfolio manager, risk management consultant, or financial analyst

Open days

The University holds regular open days, where you will have the opportunity to tour the campus and find out more about our facilities and courses.

On this day, you will find out more about the School of Social Sciences and our resources, and meet academics and admissions staff who will be able to answer any questions you have.

For more information, see open days and visits .

Fees

For entry in the academic year beginning September 2020, the tuition fees are as follows:

  • MSc (full-time)
    UK/EU students (per annum): £13,000
    International students (per annum): £21,500
  • MSc (part-time)
    UK/EU students (per annum): £6,500
    International students (per annum): £10,750

The fees quoted above will be fully inclusive for the course tuition, administration and computational costs during your studies.

All fees for entry will be subject to yearly review and incremental rises per annum are also likely over the duration of courses lasting more than a year for UK/EU students (fees are typically fixed for International students, for the course duration at the year of entry). For general fees information please visit: postgraduate fees . Always contact the department if you are unsure which fee applies to your qualification award and method of attendance.

Self-funded international applicants for this course will be required to pay a deposit of £1000 towards their tuition fees before a confirmation of acceptance for studies (CAS) is issued. This deposit will only be refunded if immigration permission is refused. We will notify you about how and when to make this payment.

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

For details of funding opportunities, visit our website .

The Manchester Alumni Scholarship Scheme offers a £3,000 reduction in tuition fees to University of Manchester alumni who achieved a first-class Bachelor's degree and are progressing to a postgraduate taught master's course.

For more information, see fees and funding or search the University's postgraduate funding database .

Contact details

School/Faculty
School of Social Sciences
Contact name
Janet Smith
Telephone
+44 (0) 161 275 4471
Email
Website
http://www.manchester.ac.uk/economics
School/Faculty

Courses in related subject areas

Use the links below to view lists of courses in related subject areas.

Entry requirements

Academic entry qualification overview

A UK 2:1 honours degree (or overseas equivalent) in economics, finance, mathematics or a related subject with economic theory, mathematics and econometrics studied at a high level.

When applying, please submit these supporting documents, in addition to the on-line form:

  • copy of transcript from undergraduate degrees (interim transcripts are acceptable if you have not yet finished the degree);
  • English language evidence (for applicants from non-native English speaking countries.

English language

  • IELTS - overall score of 7, including 7 in writing with no further component score below 6.5.
  • TOEFL IBT 103 with 28 in writing and no further score below 25 in each section. TOEFL code for Manchester is 0757.
  • Pearson - 73 overall with 73 in writing and no mark below 66.

Scores are valid for 2 years.

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. For further advice, email pg-soss@manchester.ac.uk .

Pre-Sessional English Courses

If you are eligible to do a pre-sessional English course (either 6 weeks or 10 weeks, depending on your English score), you will need to successfully complete the course at the required level before you are permitted to register on your academic course.

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 course.

Application and selection

How to apply

Advice to applicants

Due to high demand for this course, we operate a staged admissions process with selection deadlines throughout the year;

  • 1 November (decision by 8 December, accept offer by 15 January) 
  • 7 January (decision by 14 February, accept offer by 16 March)
  • 2 March (decision by 8 April, accept offer by 8 May)
  • 1 May (decision by 1 June, accept offer by 1 July)

If we make you an offer, you will have approximately 4 weeks to accept (conditional and un-conditional offers). Any offers not accepted by the deadline will be withdrawn so that an offer can be made to another candidate.

All conditional offer holders will have until 1 August to satisfy the conditions

Due to competition for places, we give preference to students with grades above our minimum entry requirements. 

You need to ensure that you submit your supporting documents with your online application as it may delay us processing your application before the deadline. Whilst we aim to give you a decision on your application by the decision date, in some instances due to the competition for places, your application may be rolled forward to the next deadline date. If this is the case, we will let you know after the deadline date.

We can accept your application before you complete your studies; please submit your latest transcripts with your online application. Please note: 

  • all places are subject to availability and if you apply for one of the later dates, some courses may already be closed, we recommend that you apply early in the cycle to secure your place;
  • meeting the minimum entry requirements does not guarantee an offer;
  • if you are a current undergraduate student at The University of Manchester, you may be eligible to apply via the Fast-Track scheme, email pg-soss@manchester.ac.uk for further information.

For a copy of the postgraduate prospectus, email pg-soss@manchester.ac.uk .

International applicants who require a visa to study in the UK can obtain up-to-date information on the latest student visa advice and guidelines.

Email pg-soss@manchester.ac.uk to request a copy of the postgraduate prospectus.

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

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 of you who seek a quantitative degree in financial economics, by combining a solid training in financial economics and macroeconomic principles, as well as the quantitative methods needed for the analysis of financial markets.

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 you to quantitative techniques and theory that will be useful in the financial industry - a portfolio manager, risk management consultant, or financial analyst.

Special features

Quantitative methods preparation for the MSc:

1. Please visit our Introduction to Quantitative Methods in Economics 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 Introduction course on Quantitative Methods in Economics which builds on the knowledge resumed in (1) and which is designed to equip you with further technical skills that you will require before starting the MSc.

3. 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 July 1 and September studying and familiarising yourself with the course material on the website, especially if you might not be able to attend the course. The significance of this course is illustrated by the fact that the obtained marks contribute 10% to the final marks of the Maths Methods and Econometrics compulsory units of semester one.

Teaching and learning

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

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

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

Coursework and assessment

Assessment is usually by written examination at the end of each semester in which a course unit is taught.

Some units may require a course work element that may be assessed. Progression to the summer dissertation element requires completion of the taught element at least at pass-level.

Course unit details

The program offers four core units in semester one:
  • macroeconomic theory;
  • financial economics I;
  • econometric methods, and;
  • mathematical methods in economic analysis.

In semester two, three core units:

  • financial economics II;
  • financial econometrics or applied macro econometrics or cross section econometrics;
  • plus two optional modules from a list of choices (eg monetary economics, public economics, and economic growth).

The sequence of financial economics I and II not only contain the material, which is a recognised classic in the field, but also reflect new trends in the area (eg elements of behavioural economics and finance).

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.

TitleCodeCredit ratingMandatory/optional
Mathematical Methods in Economic Analysis ECON60081 15 Mandatory
Macroeconomic Analysis ECON60111 15 Mandatory
Financial Economics I ECON60401 15 Mandatory
Introduction to Quantitative Methods in Economics ECON60901 0 Mandatory
Econometric Methods ECON61001 15 Mandatory
Financial Economics II ECON61262 15 Mandatory
Dissertation ECON63000 60 Mandatory
Development Microeconomics ECON60022 15 Optional
Micro Econometrics ECON60052 15 Optional
International Macroeconomics ECON60132 15 Optional
Public Economics ECON60202 15 Optional
Poverty, Inequality and Government Policy in Less Developed Countries ECON60212 15 Optional
Financial Econometrics ECON60332 15 Optional
Topics in Applied Economics ECON60482 15 Optional
Political Economics ECON60492 15 Optional
Econometric Theory ECON60502 15 Optional
Applied Macroeconometrics ECON60522 15 Optional
Mathematical Economics ECON60562 15 Optional
Economic Growth ECON60662 15 Optional
Advanced Topics in Development Economics ECON61212 15 Optional
Displaying 10 of 20 course units

Disability support

Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service. Email: dass@manchester.ac.uk

Careers

Career opportunities

Employment opportunities for students in financial economics are traditionally very good. Whether you are looking to work as an economist, portfolio manager, risk management consultant, or financial analyst, this course will expose you to quantitative techniques that are highly useful in the financial industry.

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 within the MSc Financial Economics course will facilitate your future career.