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MSc Financial Economics / Course details

Year of entry: 2020

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
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 19 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