This one-year full-time programme is designed to provide rigorous training at the frontier of research, giving you the opportunity to develop the advanced analytical and technical skills that are highly sought after by global employers.
The first of its kind at a global level, MSc Islamic Finance and Management is a cross-disciplinary specialised programme, aiming to provide management-related knowledge and skills to students who, at the same time, specialise in Islamic Finance. This programme requires less quantitative material, knowledge and skills then MSc Islamic Finance.
The programme consists of a set of core and elective modules, culminating in a practice-based business project or a research-based dissertation.
You will study:
You will then choose one elective modules. The list of modules may vary from year to year, but has typically included Decision Making and Business Modelling, Financial Management, Global Business, Islamic Capital Markets, and Strategic Marketing Management.
In the third term, you will complete a 12,000 word dissertation which could be a specific project with an organisation. Supervised by a faculty member with relevant experience, you will investigate in greater detail a subject that you have already studied as part of your programme. A major piece of independent work, the dissertation will enable you to exercise critical judgement and illustrate how economic analysis has relevance to financial decision taking.
International Opportunities
We organise an optional International Study Tour to a European destination, typically Switzerland. This intensive programme takes place over several days, normally in March/April, and offers you a great opportunity to get an ‘inside perspective’ on international business, and to network with key staff within organisations.
We organise and sponsor international conferences on Islamic economics and finance in collaboration with other leading global academic institutions such as the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank; International Shari’ah Research Academy (ISRA), Malaysia; and Kyoto University, Japan.
Guest Speakers
As part of your programme, you have the opportunity to enjoy presentations by academics and practitioners within your chosen area of interest. Past speakers have included leading academics and professional financiers and bankers, providing an ideal opportunity to gain practical knowledge and progressive insight in Islamic finance related areas.
The programme is mainly delivered through a mixture of lectures and seminars. Lectures provide key contents of a particular topic. Occasionally lectures might be delivered by guest speakers who are internationally recognised academic experts or practitioners in their field. Students can also attend the Durham Speaker Series including Islamic Finance Programme’s specialised seminars, providing the opportunity to network with senior business leaders, academics, staff and alumni.
Seminars provide the opportunity for smaller groups of students to solve problems and discuss and debate issues based on knowledge gained through lectures and independent study outside the programme’s formal contact hours. These help students to articulate the knowledge they have developed in the lectures and independent study time.
Students study 7 core modules, and select 1 elective module to study, which enables them to undertake more in-depth study of particular topics. This is followed by a 12,000 word dissertation to allow students to carry out independent research and develop their skills in analysis and scholarly expression, using an appropriate theoretical framework. They are supported in writing their dissertation through the study of research methods, and attending individual meetings with an allocated supervisor, who monitors their progress and provides advice.
Academic Support:
Throughout the year, students may have the opportunity to participate in extracurricular activities, which includes conferences and seminars organised within the programme and also professional conferences organised within the industry. Durham Islamic Finance Summer School in August should also be considered as an extremely valuable opportunity to develop practical knowledge and for networking purpose. They also have the opportunity to attend an International Study Week at an overseas location at the end of Term 2, which gives students the opportunity to learn about the business, economy and culture of another country, gain an ‘insider perspective’ on international businesses and network with key business staff.
Learning Resource:
Outside of timetabled contact hours, students are expected to undertake a significant amount of independent study in preparation for teaching sessions, assignments and other forms of assessment including exams, and general background reading to broaden their subject knowledge. All students have an Academic Adviser who is able to provide general advice on academic matters. Teaching staff are also available to provide additional support on a one-to-one basis via weekly consultation hours.
Students also have access to the facilities available at Mill Hill Lane including dedicated postgraduate working spaces, an onsite library and IT helpdesk.
This one-year full-time programme is designed to provide rigorous training at the frontier of research, giving you the opportunity to develop the advanced analytical and technical skills that are highly sought after by global employers.
MSc Islamic Finance is a specialised taught programme, involving quantitative methods in the analysis of Islamic and conventional finance by making reference to their technical particularities.
The programme consists of a set of core and elective modules, culminating in a practice-based business project or a research-based dissertation.
You will study:
You will then choose one elective modules. The list of modules may vary from year to year, but has typically included Behavioural Finance and Economics, Derivative Markets, Financial Management, International Finance, Multinational Finance, and Portfolio Management.
In the third term, you will complete a 12,000 word dissertation which could be a specific project with an organisation. Supervised by a faculty member with relevant experience, you will investigate in greater detail a subject that you have already studied as part of your programme. A major piece of independent work, the dissertation will enable you to exercise critical judgement and illustrate how economic analysis has relevance to financial decision taking.
International Opportunities
Guest Speakers
As part of your programme, you have the opportunity to enjoy presentations by academics and practitioners within your chosen area of interest. Past speakers have included leading academics and professional financiers and bankers, providing an ideal opportunity to gain practical knowledge and progressive insight in Islamic finance related areas.
Over the past two or three decades or so, Islamic banking and finance has emerged as another viable way of financial intermediation. It has gained credibility and has spread worldwide and is the preferred way of banking for one fifth of the world's population. This taught MBA offers an opportunity to study the structure of the Islamic banking and finance industry, including its theoretical foundations, products, performance, Islamic financial instruments and risk management issues. These and other topics will be studied within the wider context of the banking and finance industry worldwide. The MBA aims to develop executives who will progress quickly to senior management positions in institutions that transact banking business on Islamic principles.
Course Structure
January intake: Taught modules are undertaken in the period of January to June and September to January and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September.
September intake: Taught modules are undertaken in the period of September to June and will involve the study of 120 credits. The dissertation (or equivalent) is valued at 60 credits and is undertaken during the period of June to September.
Compulsory Modules:
Organisations and People: This module examines key issues arising from contemporary research in organisational behaviour (OB) and human resource management (HRM). It provides an integrated analysis of management, organisations and people, developing the conceptual, strategic and practical skills necessary for managers in complex, global organisational contexts.
Management Research: This module analyses the philosophical basis for research in the management sciences, and examines a number of key methodological issues and approaches. Research designs for both quantitative and qualitative research methodologies are developed, including interviews, case studies, focus groups, surveys and experiments.
Islamic Finance: This course provides an insight into topical issues relating to Islamic financial instruments and related risk management issues. The first part of the course examines issues relating to financial contracting, instruments and various intermediation issues. The second part of the course focuses on the role of the capital market in providing Islamic financing and highlights financial engineering issues and well as risk management features of this type of business.
Islamic Banking: This module provides an insight into the key features of Islamic banking business. The first part of the course outlines the theoretical foundations and development of Islamic banking practices. In particular, the main characteristics of various types of Islamic banking products are discussed. The second part of the course examines the operational features of Islamic banks focusing on their performance and how they compete with conventional interest-based banks. The final part of the course outlines contemporary challenges to Islamic banking business.
International Banking: This module examines the origins of international banking, the activities of international banks, the markets in which they participate, and the sources of risk. You will investigate the determinants of the efficiency of international banks, and evaluate the implications for banks' strategic decision-making.
Optional Modules:
International Strategic Management: This module analyses strategic decision-making within business. You will develop a critical understanding of the strategic processes of business management, the interconnections with the functional domains of marketing, human resource management and corporate finance, and the management of knowledge systems.
Marketing Financial Services: This module surveys the tools of modern financial services marketing, focussing on the key methods of financial services marketing in the acquisition of customers and sale and distribution of financial services. The module progresses considering consumer behaviour, the changing customer demands, consumer heuristics and biases and ways in which financial services marketing has succeeded and failed.
Islamic Accounting and Financial Reporting: This module develops a critical awareness of theoretical and practical approaches to Islamic accounting and financial reporting. Islamic accounting standards are compared with IFRS, and the content and impact of academic research in this area is examined.
Contemporary Issues in Management: This module develops several theories and concepts introduced in Organisations and People, critiquing key issues arising from contemporary research in organisational behaviour (OB) and management. It provides a detailed and critical analysis of management, further developing the conceptual, strategic and practical skills necessary for managers in complex, global organisational contexts.
Banking and Development: This module critically evaluates the theory underlying the policy of financial liberalisation, and examines its implementation, primarily in developing countries. The impact of financial liberalisation on the financial systems of developing countries is analysed in depth.
Islamic Insurance: This module analyses the nature and principles of Islamic insurance, and examines the operational modes and practice of Islamic insurance. The structure of Islamic insurance markets is described, and constraints and opportunities for Islamic insurance and Islamic insurance accounting are highlighted.
Marketing Strategy: This module critically evaluates the contributions of various schools of thought in marketing, and examines the relevant analytical models and management practices, with emphasis on the strategic importance of marketing to all organisations.
Merger and Acquisition: This module provides an analysis of incentives and outcomes associated with merger and acquisition deals. It covers the development and execution of an acquisition strategy, the valuation of the target, the conduct of the negotiation, and the implementation of the post-merger integration plan.
In a globalised world, the importance of understanding economic principles and their impact on business is more relevant than ever before. Businesses need highly skilled individuals who are able to understand the nature of the economic environment and the impact this will have on organisations. They need individuals who are able to take economic theory and principles and apply them to real-world business problems.
This Master’s course provides a stimulating and intellectually rigorous programme for individuals who want to respond to these demands. You will have the opportunity to develop a solid understanding of economics alongside subjects which will help enhance your knowledge of business organisations. Key core modules include Macroeconomics, Microeconomics, International Economics and International Business Environment. Additionally, you’ll have an option module choice of one of the following: Economics of Financial Markets, Development Economics or Applied Banking and Financial Modelling.
Employment opportunities for prospective students remain strong in economics, management consultancy, multinational organisations and government agencies. Recent graduates from similar business and finance courses at the University have gone on to work for leading FTSE-100 companies, Government, the media, industry and manufacturing.
Many of our economics tutors are members of the Royal Economic Society (RES)and undertake research in areas such as banking, international economics, international political economy and Islamic finance
This course is ideal if you aspire to a career in the financial services sector or a role in an industry that requires advanced economic analysis skills.
During the course, you will have the option to develop your knowledge and understanding of core economic theories and principles, and apply these to the financial services setting. We aim to help you develop your analytical skills through the study of econometrics and deepen your understanding of the financial services sector.
The course’s core modules look at fundamental aspects of financial economics like Economic Statistics, Econometrics and Economics of Financial Markets. You also have a wide range of option modules in areas such as sustainability, development economics, strategic management, and globalisation and financial crises.
Employment opportunities for prospective students remain strong in economics, management consultancy, multinational organisations and government agencies. Nine of the top ten occupations held by economics graduates employed in the UK are in business, finance or HR professions.
Many of our economics tutors are members of the Royal Economic Society (RES)and undertake research in areas such as banking, international economics, international political economy and Islamic finance.
If you aspire to develop a career in economics, business or finance, our course will help prepare you for a wide variety of careers in sectors which require advanced economic analysis skills.
Throughout this course, we aspire to help you develop your knowledge and understanding of core economic theories and principles, in order to apply these to policy making and resource allocation scenarios. You’ll have the opportunity to develop your analytical skills through the study of econometrics and deepen your understanding of the global economy. The course offers a wide range of option modules, enabling you to pursue particular areas of interest such as sustainability, strategic management, financial modelling, globalisation and development economics.
Many of our economics tutors are members of the Royal Economic Society (RES)and undertake research in areas such as banking, international economics, international political economy and Islamic finance.
Employment opportunities for prospective students remain strong in economics, management consultancy, multinational organisations and government agencies. Nine of the top ten occupations held by economics graduates employed in the UK are in business, finance or HR professions. Recent graduates from similar courses at the University have gone on to work for leading FTSE-100 companies, Government, the media, industry and manufacturing.
The Master in Middle Eastern Studies (MIMES) is specifically tailored for graduates of various disciplines and backgrounds, who are interested in obtaining a better knowledge of the Middle East region, taking into account its social-historical complexity and cultural plurality. The program aims to offer solid historical, political and institutional perspectives of the current domestic, regional and international dynamics affecting the stability of the region, as well as a critical outlook on current debates over the Middle East.
MIMES aims to guide students across this diverse and fascinating region, which, since decades, is at the center of the geostrategic interest of the international system. The program mainly focuses on the contemporary period, through a multi-disciplinary approach ranging over international relations, geopolitics, conflicts and security, economy and energy. Nonetheless, specific sections are devoted to the analysis of the historical and religious foundations of the modern Middle East, from the birth of Islam to the evolution of Islamic thought, law and economy. A dedicated course will offer a linguistic analysis of the political and juridical terminology and a glossary in Arabic. MIMES analyses in details infra-regions and inter-regions peculiarities and relations, from Maghreb to Central-Southern Asia, encouraging a comparative and holistic area studies approach.
MIMES provides graduate students with a detailed, comprehensive knowledge of the wider Middle East, beneficial to under-take a number of different careers, consistently with their previous training and experience, within international institutions, private companies, non-governmental organizations (NGOs), research centers and area studies, media networks, etc.
The Master in Middle Eastern Studies is articulated in five complementary levels, fostering multidimensional training and cross-fertilization, integrating scientific methodologies and operative competences.
1st level - Propaedeutic Phase: history, power and institution. The conceptual foundation of the Middle East
● Methodological introduction: debates on the Middle East
● History of the Middle East
● Religion, society and thought in the Islamic Middle East
● Islamic law and economy
● Study of political and juridical terminology - glossary in Arabic
● Middle East within the 20th century international order
2nd level - In-depth Analytical Phase: sub-regional contexts
● Maghreb
● Mashreq
● Sub-Saharan Africa
● South-West Asia and the Gulf
● Central-Southern Asia
3rd level - Thematic and Contemporary Issues
● Politics in contemporary Middle East and the current International Relations context
● Global security: jihadism, violent activism, conflicts and nuclear proliferation
● Post-conflict institution-building and human security
● Gender, ethno-religious diversity and pluralism in the Middle East
● Energy and geopolitics of resources
● Contemporary economic trends
4th level - Project Work
Students are required to develop a personal research project on a topic related to Middle Eastern affairs, under the supervision of a MIMES professor and/or a professional from a partner institution. The project work will often be connected to the internship experience.
5th level - Internship (or Arabic/ Persian/ Turkish language course)
The Master is completed with an internship in Italy or abroad within an institution whose mission and activities are consistent with the Master’s program. This gives students the invaluable opportunity to test and strengthen the competencies acquired during the Master and it usually lasts three months. As an alternative, students who do not carry out an internship may choose to attend an Arabic language course. Students will receive support and tutoring for their internship research.
The Master in Middle Eastern Studies offers high quality training to students from all over the world. They will take part in team projects with the guidance of important scholars and leading professionals from the Middle East as well as from Europe and the U.S.
Faculty:
● Prof. Riccardo Redaelli - MIMES Director
● Prof. Paolo Branca - Università Cattolica del Sacro Cuore
● Dr. Marina Calculli - American University, Beirut
● Prof. Massimo Campanini - Università degli Studi di Trento
● Prof. Martino Diez - Fondazione OASIS and Università Cattoli- ca del Sacro Cuore
● Prof. Wael Faruq - American University, Cairo
● Prof. Ersilia Francesca - Università degli Studi di Napoli l’Orientale
● Prof. Elisa Giunchi - Università degli Studi di Milano
● Prof. Mehran Kamrava - Georgetown University’s School of Foreign Service
● Prof. Bahgat Korany - American University, Cairo
● Prof. Marco Lombardi - Università Cattolica del Sacro Cuore
● Prof. Maurizio Martellini - Landau Network Centro Volta and Insubria Center on International Security
● Prof. Massimo Papa - Università di Roma Tor Vergata
● Prof. Vittorio Emanuele Parsi - Università Cattolica del Sacro Cuore
● Prof. Paola Rivetti - Dublin City University
● Prof. Mahmood Sariolghalam - Shahid Beheshti University of Tehran
● Prof. Oktay Tanrisever - Middle East Technical University
● Amb. Roberto Toscano - Barcelona Center for International Affairs
● Mr. Franco Zallio - consultant
This Master has been created thanks to the experience of ASERI in the field of graduate education and training. Università Cattolica’s Graduate School of Economics and International Relations combines quality courses with strong connections to the business world. Courses are taught by academic professors, professionals and leaders from all over the world. The high quality of this training is ensured by the presence of an international faculty composed by renowned professors and experts, coming from both Middle East and US/EU universities and research centers.
The strong theoretical basis is combined with a solid knowledge of the contemporary issues, in order to provide students’ with a specific understanding of one of the most important region in the international scenario and help them to convert their knowledge in professional skills.
Thanks to the expertise of its faculty, this innovative program combines several perspectives on the Middle East: international relations, history, economics, law, geopolitics, security and energy. The analysis of the current dynamics, debates and most important topics regarding the role of the Middle East at a regional and international level, as well as dedicated modules on its sub-regions and their peculiarities, are strengthened by the theoretical basis provided during the first part of the program.
