There is mounting evidence that people violate many of the "rationality" assumptions of mainstream economics. Behavioural Economics is a relatively new field that studies such violations and proposes theories to explain them. Behavioural Finance is a part of Behavioural Economics that studies important "irrationalities" on financial markets. Key topics include common mistakes people make when deciding how much to save and how to invest, excess volume of trade, equity premium puzzle, bubbles, and predictability of financial markets.
Why study Behavioural Finance
Behavioural Economics and Behavioural Finance have grown tremendously in popularity in recent years. The Nobel Prize in Economic Sciences was awarded to Daniel Kahneman in 2002 for Behavioural Economics and to Robert Shiller in 2013 for Behavioural Finance. There has been increased interest by the public, as evidenced by a spate of popular books in these areas. There has also been increased interest by governments: for example, David Cameron appointed a "Behavioural Insights Team" in 2010 to help design government policies.
The backbone of the programme consists of a first-semester module in Behavioural Economics and a second-semester module in Advanced Behavioural Finance. Apart from these two modules, students can take modules covering more traditional topics in finance.
A thorough knowledge of Behavioural Economics and Behavioural Finance provides students with a deeper and more realistic understanding of financial markets than is offered by mainstream finance alone. Such knowledge also makes students less susceptible to common mistakes in their own lives and careers. A successful completion of the programme would provide students with valuable skills for a wide range of careers in areas such as investment, banking, public service, or academia.
The programme consists of five compulsory modules in semester A as well as two compulsory modules and three electives in semester B. During the summer period students will also have to complete a 30-credit 5000-word dissertation under the supervision of an academic member of staff.
QMUL School of Economics and Finance Scholarships
The School of Economics and Finance is pleased to offer up to 60 scholarships to outstanding applicants. The scholarship value is £5,000 (slightly more for MSc Economics students) and is open to all postgraduate taught courses in the School.As well as the quality of your undergraduate transcript, we take into account additional information outlined below: Preference is given to applications for MSc Economics, MSc Finance, MSc Investment and Finance, MSc Investment Banking , MSc Finance and Econometrics, MSc Behavioural Finance Weight will be given to applicants who are attending or graduated from a top 100 university according to Shanghai Ranking, Top Universities, The Guardian, and Times Higher Education In order to maintain the diversity of our student intakes, students studying in the following countries will be given preference: Egypt, France, Germany, Greece, Italy, India, Indonesia, Malaysia, Thailand, Turkey, USA, and Vietnam.
Value of Scholarship(s)
Scholarships will be awarded on purely on the basis of demonstrated potential for academic excellence on the programme applied. The potential for excellence will be judged to be demonstrated if the application:Shows that it exceeds our minimum entry requirements by a significant margin and/or otherwise outperforms applicants competing for the scholarships under consideration Shows excellent performance on specific modules considered relevant and valuable preparation for the programme applied to, e.g. on quantitative and economics/finance modulesFor full details, please visit the QMUL website
Eligible applicants will be contacted by the school once an offer has been made.Please note, applicants will be required to return the completed scholarship form within a month of receiving it from the School of Economics and Finance. Additionally, due to the high volume of qualified applicants, there may be a delay in application turnaround time and we encourage you to apply early.
QMUL works closely with the Chevening - the UK government’s international scheme aimed at developing global leaders - to provide a large number of full scholarships for study on our one-year Masters courses.Every year QMUL hosts a large cohort of the 1500 Chevening Scholars who come to study at universities all over the UK. In 2016-17 we have a record of 87 scholars joining QMUL from countries across the globe!Chevening Scholarships are available for students from all nationalities.All Chevening awards cover full overseas tuition fees, as well as providing a stipend for living costs, air-fares, and a variety of other expenses. A large number of these awards will be available across all one-year QMUL masters courses.Chevening Scholars also benefit from a year-long programme of events helping you experience the best of British culture and to make the most of your time in the UK.
Value of Scholarship(s)
To be eligible for a Chevening Award you must:- Be a citizen of a Chevening-eligible country - Return to your country of citizenship for a minimum of two years after your award has ended - Have an undergraduate degree that will enable you to gain entry to a postgraduate programme at a UK university. This is typically equivalent to an upper second-class 2:1 honours degree in the UK. - Have at least two years’ work experience For full eligibility criteria, please visit the website
Applications for all scholarships must be made directly to the Chevening: full details on how to apply are available on the Chevening’s webpages.The deadline for applications is Tuesday 8 November 12:00 GMT.Candidates should also apply for their chosen Masters programme at QMUL through our online portal in the normal way.Candidates are encouraged to QMUL as early as possible to ensure that their application can be processed in a time to meet the Chevening’s deadline for the confirmation of their unconditional university offer in July 2017.
QMUL is proud to be working in partnership with the Commonwealth Scholarship Commission (CSC) in the UK to offer a wide range of scholarships for postgraduate study at Master’s and PhD level.In 2017-18 we will be hosting an unprecedented number of Commonwealth Scholars from across the globe.Commonwealth Scholarships at QMUL typically cover full overseas tuition fees, living costs, airfares, and a variety of other expenses. Scholars from developing and developed Commonwealth countries are eligible to apply for these awards.All candidates should apply to QMUL online following our normal application procedures (please be aware that candidates applying for a Commonwealth Scholarship may have an earlier application deadline than normal) and will also need to make an application directly to the Commonwealth Scholarship Commission.You can apply for a Commonwealth Scholarship for Master’s (one-year courses only). All subject areas are eligible, although the CSC’s selection criteria give priority to applications that demonstrate the strongest relevance to development.
Value of Scholarship(s)
To apply for these scholarships, you must: - Be a Commonwealth citizen, refugee, or British protected person - Be permanently resident in a developing Commonwealth country - By October 2017, hold a first degree of at least upper second class (2:1) honours standard, or a second class degree and a relevant postgraduate qualification (usually a Master’s degree) Please visit the website for full eligibility criteria
All candidates should apply to QMUL online following our normal application procedures (please be aware that candidates applying for a Commonwealth Scholarship may have an earlier application deadline than normal) and will also need to make an application directly to the Commonwealth Scholarship Commission.Application deadline: 15 November 2016For full details of the application procedure, please visit the website
At least an upper second class honours degree (2.1) or overseas equivalent in a subject with some quantitative elements.Subjects likely to contain sufficient quantitative elements (i.e. which have at least one mathematics or statistics based module) including Mathematics, Science, Engineering, Economics, Finance, Psychology, Accounting, Business & Management.For our English Language requirements please click here: View Website
Recipient: Queen Mary University of London
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