Masters Degrees in Financial Economics

Understanding modern financial economics, which includes asset pricing, risk management, monetary policy and financial regulations for pursuing careers at, for example, banks, capital funds and finance ministries.
The spectacular growth of international capital markets is creating great opportunities. But, as the latest financial crisis has shown, this also entails major challenges for financial decision-makers and regulators of financial markets. The academic Master’s specialisation in Financial Economics is ideal for students who want to understand the workings of global financial markets, from asset pricing and risk management to monetary policy and financial regulation. It provides you with the necessary knowledge and skills set for careers in not just banks, investment funds, and financial exchanges, but also finance ministries or other governmental or non-governmental bodies of financial market oversight.

See the website http://www.ru.nl/masters/fe

Why study Financial Economics at Radboud University?

- You will be part of a new generation of finance professionals, who not only understand traditional approaches in financial economics but who can also integrate modern behavioural and institutional aspects. This gives you a good understanding of the highly volatile behaviour of financial markets, including bubbles, crashes and crises.

- Besides offering a sound theoretical foundation, there is also plenty of attention for applying these concepts to real-world situations.

- You will be trained to think independently and critically about the way in which financial economics can be applied in your professional field and you will develop skills that will make a difference in the highly competitive global labour market.

- The specialisation pays special attention to global aspects of corporate finance, preparing students for an international career.

- Our lecturers are active in academic and applied research which allows them to incorporate the latest academic developments and applied issues. This will also enable you to actively participate in academic research in your Master’s programme.

- Professors and students interact in small groups, thus strengthening the academic atmosphere.

- Radboud University offers ‘Economics Plus’. Traditional economic models and business approaches are expanded with relevant knowledge from related disciplines such as psychology, teaching more in-depth knowledge that can be applied in today’s globalised world.

Ground breaking ideas

One of the most important aspects of this specialisation is to fully understand how financial markets work and what the possible implications are of measures taken to regulate them. How are asset prices of stocks, bonds, derivatives and other financial assets determined? How do markets deal with financial risk and how can we manage it? You are challenged to go further than simply understanding the concepts and to think creatively about ground breaking ideas of how to regulate constantly developing financial markets and new financial instruments. It’s about trying to get financial markets to work more efficiently, without exuberant bubbles and catastrophic crashes, and in support of a prospering world economy.

Career prospects

Employers are increasingly looking for a new generation of financial professionals, who understand more than the traditional concepts in financial economics and who can integrate this knowledge with institutional and behavioural insights to tackle a wide variety of problems. This Master’s specialisation will provide you with in-depth knowledge in asset pricing, risk management, monetary policy and financial regulations as well as behavioural finance. With this specialisation you will get the best possible understanding of how financial markets work and how to use your analytical skills to deal with today’s problems in financial markets.

Job positions

Our graduates have the necessary knowledge and skills to work for commercial banks, investment banks, and various types of stand-alone investment funds, as well as financial exchanges. Furthermore, careers in finance ministries or other governmental or non-governmental bodies of financial market oversight, such as central banks, the IMF and the World Bank, are also well within your reach. Due to our international approach, and by choosing the relevant electives, this Master’s can also prepare you for financial careers in multinational enterprises or large national companies.

Our approach to this field

The Master’s specialisation in Financial Economics primarily looks at financial markets, their behaviour, their regulation, and monetary policies. In this specialization we take a bird’s eye view and investigate global financial markets as a whole, for example, stock markets, commodity markets or derivative markets. But we also analyse the different classes of market participants, for example, banks, insurances, pension funds, activist investors and hedge funds. There are many topics that will be studied including bubbles and crashes in financial markets, exchange rate policies between countries and how they affect economic growth. But also measures that a government can take to minimise the risks that banks take, or financial innovations and how they can help to improve economic growth.

- Much more than traditional financial economics
We want to educate a new generation of finance professionals; ones who not only understand traditional financial economics, but can also work with modern institutional and behavioural insights. Financial markets are internationally integrated and often truly global. That is why at Radboud University, we also teach students how to be aware of the different institutional, cultural and psychological aspects in various financial markets. At Radboud University, we also know that psychological biases and emotions play a role in financial decisions. Therefore, a good understanding of financial economics includes knowledge about behavioural finance. Behavioural finance is a modern field in finance that uses psychology-based theories to explain financial decisions of individuals and how these can influence financial markets and create anomalies.

- Other specialisations of Economics
This specialisation looks at Finance from a market perspective and how financial markets can be regulated takes a broad view on markets. If you are more interested in Finance from a firm’s perspective and at its positioning within financial markets, we suggest you take a look at our Master's in Corporate Finance and Control. And for those wanting to know more about the trade relations between countries should take a look at our specialisation in International Economics and Business.

See the website http://www.ru.nl/masters/fe

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You can start this MSc Economics degree in September or January. It can be tailored to two specialist fields: International Economics or Business and Financial Economics. On successful completion of this programme, you will graduate with one of the following degrees:

• Master of Economics
• Master of Economics (Business and Financial Economics)
• Master of Economics (International Economics).

Graduate market

There is increasing demand for economics graduates in business and public sector decision making. This demand is evident in national and international institutions, including:

• Central banks 
• Ministries and governmental departments
• International governmental and non-governmental organisations (NGOs)
• Commercial and investment banks
• Rating agencies
• Research institutes and think-tanks
• Economics and business media
• Business and civil society organisations. 

All these employers increasingly look for high-quality, evidence-based decision makers with an ability in applied economics and advanced data analysis. Our Master's degree will enable you to respond to this increasing demand. 

What you'll learn

The programme combines solid training in theory and method with stimulating exposure to economics and financial data sources. We will prepare you to contribute to an international global economy and to respond to its policy changes. 

Our courses weave a three-way linkage between alternative theories of economics and finance, data analysis, and application of theory and method to policy and strategy issues in the world of economics, business and finance.

Our Master's degree has a number of distinctive features to enable you to combine theory and real word examples to develop evidence-based answers to economic and business problems. 

Outcomes

The aims of this degree are:

• Equip you with a sound knowledge of international economics, financial economics and business economics, improving your analytical and problem-solving skills
• Enable you to tackle problems creatively by helping you to think outside conventional boundaries
• Develop skills to seek deeper meaning of a theory or finding in a pluralistic fashion comparing theories and their policy implications
• Equip you with methods to analyse economic issues relevant to the real world
• Enable you to respond to the increasing demand for economics graduates by developing your skills and competence in economics.

Rankings

In 2015, Greenwich was named by The Economist as one of four institutions in the country leading the way on curriculum change.

We are proud to say that our economics subjects were ranked:

• First in London for student satisfaction in both the Guardian University Guide 2016 and the Complete University Guide 2017.
• Top 10 in the UK for student satisfaction by the Complete University Guide 2017.

Greenwich is one of the top two most globally diverse universities in the UK, US, Australia and New Zealand, by Hotcourses Diversity Index.

We have also been named as one of the "most international" universities on the planet by Times Higher Education magazine.

What you'll study

Full time

Students are required to study the following compulsory courses.

• Introduction to Economic Analysis and Quantitative Methods (20 credits)
• Applied Econometrics (30 credits)
• Microeconomics 1 (15 credits)
• Macroeconomics 1 (15 credits)
• Dissertation (40 credits).

Option courses

Students are required to choose 4 courses from this list of options.

• Microeconomics 2 (15 credits)
• Macroeconomics 2 (15 credits)
• Economics of International Development (15 credits)
• Economics of European Integration and the UK (15 credits)
• Economics of Finance and Investment (15 credits)
• International Financial Markets (15 credits)
• Microfinance in International Development (15 credits).

For a Business and Financial Economics specialisation, you study the following courses in addition to the compulsory courses listed above.

• Microeconomics 2 (15 credits)
• Economics of Finance and Investment (15 credits)
• International Financial Markets (15 credits).

Students are required to choose 15 credits from this list of options.

• Microfinance in International Development (15 credits)
• Economics of International Development (15 credits)
• Macroeconomics 2 (15 credits)
• Economics of European Integration and the UK (15 credits).

For an International Economics specialisation, you study the following courses in addition to the compulsory courses listed above.

• Macroeconomics 2 (15 credits)
• Economics of International Development (15 credits)
• Economics of European Integration and the UK (15 credits).

Students are required to choose 15 credits from this list of options.

• Microfinance in International Development (15 credits)
• Microeconomics 2 (15 credits)
• Economics of Finance and Investment (15 credits)
• International Financial Markets (15 credits).

Part time

The courses listed above will be split across two years.

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The course is designed to give you a thorough background in the latest advances in theoretical and mathematical financial economics.

Who is it for?

This course is designed for anyone who wants to undertake rigorous training in financial economics and mathematics, either immediately after completion of an undergraduate degree or as a mid-career professional.

You have the option of studying full-time over the course of one year or part-time over the course of two.

Objectives

The aim of this course is to develop your critical and analytical abilities in mathematics and economics and to prepare you academically for a career as a financial economist or quantitative analyst.

The dissertation track also serves as a stepping stone to an Economics or Finance PhD.

Teaching and learning

The Financial Economics MSc course is delivered through a flexible combination of lectures, seminars and computer lab sessions. Lectures introduce you to the key theories, concepts and economic models. In seminars you have the opportunity to solve applied problems, analyse case studies and make presentations of research published in leading academic journals.

The computer labs provide you with practical experience of using computer software to perform calculations and conduct realistic simulations. In addition, econometric methods are taught in lab sessions, so you have the opportunity to apply econometric software to empirical research and financial market estimations.

When appropriate, "practitioner slots" - such as research seminars conducted by external financial experts, presentations by invited academics etc. - will be incorporated into module delivery.

We also offer pre-sessional induction courses on economic analysis for students who need to build up their background in the fundamental aspects of financial economics.

Teaching takes place over two terms, from September to June. Full-time students who pass all the taught modules during the main exam sessions finish the programme at the end of September when they submit their dissertation or literature review. Full-time students who successfully complete the taught modules in the August resit exam session submit their dissertation or literature review in December.

Part-time students complete there modules over the course of four terms from September to June before undertaking their dissertation or literature review.

Assessment

Assessments are a combination of unseen written examinations (70% for each module) and coursework (30% for each module).

Modules

You will take two 30 credit taught modules, four 15 credit taught modules and will accrue 60 extra credits through one of the following routes:
-Literature survey: two extra elective taught modules of 15 credits each and a literature survey (Economics Literature Survey) worth 30 credits
-Dissertation: a 60 credit dissertation (Economics Research Project).

Note: It is not possible to give exact hours per week because these can vary from one term to the other depending on which electives the students choose.

Dissertation route modules
Core modules:
-Financial Markets (30 credits)
-Econometrics (30 credits)
-Economics Research project (60 credits)

Literature survey route modules
Core modules:
-Financial Markets (30 credits)
-Quantitative Methods (30 credits)
-Economics Literature Survey (30 credits)

Elective modules:
-Economics of Regulation and Competition (15 credits)
-The Economics of Micro-Finance (15 credits)
-Economics and Business Strategy (15 credits)

Electives
On the dissertation route you will choose two modules from group one and one module from group two. On the literature survey route you will choose two modules from group one, two modules from group two and two further electives from either group or from the route specific electives.
Group one
-Financial Derivatives (15 credits)
-Asset Pricing (15 credits)
-Corporate Finance (15 credits)

Group two
-Quantitative Finance with Matlab (15 credits)
-International Macroeconomics (15 credits)
-Corporate |nvestment under Uncertainty (15 credits)

Career prospects

On completing the Masters in Financial Economics course you will have a range of employment possibilities, to some extent determined by the electives you choose.

For example, you may work in the financial industry as a consultant, banker, quantitative analyst, or in the health industry as a financial analyst, or in any industry that requires a financial or industry analyst.

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Our specialised MSc Financial Economics and Econometrics includes in-depth theoretical and applied aspects of econometrics to complement subjects in financial markets and corporate finance.

Our course equips you with the right combination of skills for rigorous analysis to underpin high-level policy advice or decision making in the fast moving financial sector. You master mathematical techniques and statistical analysis, and acquire a deep knowledge of how financial markets work and how to analyse them.

You investigate topics including:
-The theoretical foundations of econometrics
-The analysis of financial market data
-The economics of financial markets

We are top 5 in the UK for research, with over 90% rated as “world-leading” or “internationally excellent”. Much of this world-class research is related to policy, and we have particular strengths in the areas of:
-Game theory and strategic interactions
-Theoretical and applied econometrics
-Labour economics

The quality of our work is reflected in our stream of publications in high-profile academic journals, including American Economic Review, Econometrica, and Review of Economic Studies.

Professional accreditation

Our University is one of only 21 ESRC-accredited Doctoral Training Centres in the UK.

This means that our course can form part of a prestigious 1+3 funding opportunity worth up to £21,575.

Our expert staff

Study and work alongside some of the most prominent economists of our time.

Our researchers are at the forefront of their field and have even received MBEs, with students coming from across the globe to study, research or work with us.

Many of our researchers also provide consultancy services to businesses in London and other major financial centres, helping us to develop research for today's society as well as informing our teaching for the future.

Specialist facilities

Take advantage of our wide range of learning resources to assist you in your studies:
-Extensive software for quantitative analysis is available in all computer labs across the university
-Access a variety of economics databases and multiple copies of textbooks and e-books in the Albert Sloman Library

Your future

After completing your masters, you may wish to extend your knowledge with a research degree – many Essex graduates decide to stay here for further study.

Alternatively, our course also prepares you for employment; recent surveys have shown that higher degree graduates are more likely to obtain jobs at professional or managerial level.

With the skills and knowledge you acquire from studying within our Department of Economics, you will be in demand from a wide range of employers. We have excellent links with the research community, both in the UK and worldwide, and strong ties with the business/consultancy world, especially in London and other major financial centres.

Our graduates find employment in roles such as business and financial analysts, management consultants, government officials, and economists for banks and other financial organisations.

We also work with the university’s Employability and Careers Centre to help you find out about further work experience, internships, placements, and voluntary opportunities.

Example structure

-Dissertation
-Economics of Financial Markets
-Estimation and Inference in Econometrics
-Time Series Econometrics
-Topics in Financial Economics
-Economic Development Theory (optional)
-Economics of Incentives, Contracts and the Firm (optional)
-Game Theory and Applications (optional)
-International Finance (optional)
-International Trade (optional)
-Macroeconomics (optional)
-Mathematical Methods (optional)
-Microeconomics (optional)
-Microeconometrics (optional)
-Monetary Economics (optional)
-Panel Data Methods (optional)
-Political Economy (optional)
-Theory of Industrial Organisation (optional)
-Applications of Data Analysis (optional)
-Banking (optional)
-Behavioural Economics I: Individual Decision Making (optional)
-Behavioural Economics II: Games and Markets (optional)
-Computational Agent-Based Macro-Economics, Financial Markets and Policy Design (optional)

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Our MSc Economics programmes are intended to deepen your knowledge and understanding of economics as an academic discipline. Each programme draws upon the internationally-rated research undertaken within the department and the experience of our academics in developing economic policy at organisations such as such as the Bank of England, the Organisation for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF), and the United Nations.

A central objective of all of the programmes is to provide you with insight into the latest thinking in economics. You will attend a series of research seminars, during which you can discuss and present current research papers. You can also participate in the departmental seminars, which attract external academics and provide you with the opportunity to gain insight into current research in economics and econometrics.

Our postgraduate economics degrees form part of the ESRC South West Doctoral Training Centre – a hub of world-class social sciences research. For UK and EU students, this means you can apply to the ESRC for funding assistance with both tuition fees and living expenses if you are intending to progress to a PhD. More information about SWDTC at http://www.exeter.ac.uk/doctoralcollege/fundedcentres/swdtc/

This programme is a springboard into a career as an economist. Whether you are looking to work in the Civil Service, a leading bank, a multinational organisation or an insurance company, this programme can help you achieve your aims. It is also an ideal choice for anybody who sees his or her future as an analyst for a major investment company. The programme is designed to provide an understanding of economic and financial theory, together with specialist econometric and mathematical techniques. It provides a platform for economics students with a particular interest in finance and will also be of interest to applicants who are already practicing economists or have work experience in the financial sector.

Completion of the MSc in Financial Economics is an excellent foundation for progression onto a research degree. At the heart of the programme are core modules in financial theory, plus a choice of further options in Finance, Economics or Econometrics. Alongside the formal lecture programme, you will be able to participate in the Economics Seminar Series. The summer dissertation represents your chance to carry out original research in financial economics.

Study abroad and gain a second Masters qualification

The double degree option enables you to gain a second Masters qualification by studying for a year with one of our prestigious partner universities. Specific to this programme is a Double Degree opportunity with Fudan University School of Economics. For more information on this and other postgraduate study abroad opportunities, visit the Business School’s Study Abroad webpages at http://business-school.exeter.ac.uk/programmes/postgraduate/studyabroad/.

Programme structure

During the programme you will study modules (including the dissertation) totalling 180 credits.
Please note that programme structures may be subject to change.
• Descriptions of the individual modules are given in full on the Business School postgraduate module list at http://business-school.exeter.ac.uk/programmes/postgraduate/modules/

Compulsory modules

Recent examples of compulsory modules are as follows; Research Design and Dissertation; Fundamentals of Financial Management; Optimization Techniques for Economists; Topics in Financial Economics; Macroeconomic; Microeconomics; Quantitative Research Techniques; Economics of Corporate Finance and Financial Econometrics

Optional modules

Some recent examples are as follows; Advanced Econometrics; Banking and Financial Services; Domestic and International Portfolio Management; Economics of Banking; Game Theory and Industrial Organisation; International Trade and Regional Integration and Experimental and Behavioural Economics.

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Are you interested in finance and its economic foundations? The emphasis of our MSc Financial Economics is on the ways that economic reasoning can inform and illuminate the financial decision-making of investors and the financial choices made by firms.

You gain a broad and comprehensive understanding of financial economics. In particular, you explore topics including:
-Notions of risk and return in equity markets, both in the context of asset pricing and in the management of equity portfolios
-Optimisation theory
-How economic arguments work
-The role of equilibrium

We are top 5 in the UK for research, with over 90% rated as “world-leading” or “internationally excellent”. Much of this world-class research is related to policy, and we have particular strengths in the areas of:
-Game theory and strategic interactions
-Theoretical and applied econometrics
-Labour economics

The quality of our work is reflected in our stream of publications in high-profile academic journals, including American Economic Review, Econometrica, and Review of Economic Studies.

Professional accreditation

Our University is one of only 21 ESRC-accredited Doctoral Training Centres in the UK.

This means that our course can form part of a prestigious 1+3 funding opportunity worth up to £21,575.

Our expert staff

Study and work alongside some of the most prominent economists of our time.

Our researchers are at the forefront of their field and have even received MBEs, with students coming from across the globe to study, research or work with us.

Many of our researchers also provide consultancy services to businesses in London and other major financial centres, helping us to develop research for today's society as well as informing our teaching for the future.

Specialist facilities

Take advantage of our wide range of learning resources to assist you in your studies:
-Extensive software for quantitative analysis is available in all computer labs across the university
-Access a variety of economics databases and multiple copies of textbooks and e-books in the Albert Sloman Library

Your future

After completing your masters, you may wish to extend your knowledge with a research degree – many Essex graduates decide to stay here for further study.

Alternatively, our course also prepares you for employment; recent surveys have shown that higher degree graduates are more likely to obtain jobs at professional or managerial level.

On our MSc Financial Economics you will gain key skills in the analysis of complex financial data. In addition you will develop key employability skills like mathematical techniques, statistical analysis and computer skills and acquire a deep knowledge of how financial markets work and how to analyse them.

Our recent graduates have gone on to work for a range of high-profile organisations:
-Santander
-Ernst and Young
-Amba Research
-Indicus Analytics

More generally, our graduates find employment in roles such as business and financial analysts, management consultants, government officials, and economists for banks and other financial organisations.

We also work with the university’s Employability and Careers Centre to help you find out about further work experience, internships, placements, and voluntary opportunities.

Example structure

-Dissertation
-Econometric Methods
-Economics of Financial Markets
-Mathematical Methods
-Topics in Financial Economics
-Applications of Data Analysis (optional)
-Computational Agent-Based Macro-Economics, Financial Markets and Policy Design (optional)
-Economic Development Theory (optional)
-Economics of Incentives, Contracts and the Firm (optional)
-Game Theory and Applications (optional)
-International Finance (optional)
-International Trade (optional)
-Macroeconomics (optional)
-Microeconometrics (optional)
-Microeconomics (optional)
-Panel Data Methods (optional)
-Political Economy (optional)
-Theory of Industrial Organisation (optional)
-Time Series Econometrics (optional)

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-Are you keen to apply your interest and skills in economics to the study of financial markets?
-Do you want to combine a rigorous training in core economics with a solid introduction to the key theoretical techniques used in finance?
-Do you plan to work as a portfolio manager, risk management consultant, or financial analyst?

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 students who seek a quantitative degree in financial economics, by combining a solid training in microeconomic and macroeconomic principles, as well as the quantitative methods and theory 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 students to quantitative techniques and theory that will be useful to anyone in the financial industry - a portfolio manager, risk management consultant, or financial analyst.

Teaching and learning

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

You must first check the schedule of the compulsory modules and then select your optional modules to suit your requirements.
Updated timetable information will be available from mid-August and you will have the opportunity to discuss your module 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 the pass-level.

Career opportunities

Employment opportunities for students in Financial Economics are traditionally very good. 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 in the course of the study within the MSc in Financial Economics Programme will facilitate the future career of those who have got this degree.

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Overview
The Master's in Monetary and Financial Economics (MEMF) is an international-level programme that follows the best European practices in the area. As such, the selection criteria of applicants are demanding and this exigency level is kept along the course. Thus, the MEMF is not compatible with a weak background and with a low-effort profile, as we expect students to be prepared to spend a minimum of 3200 effort hours in 2 years.
The effort required from MEMF students is strongly valued in the labour market. Employers especially recognise to MEMF graduates a strong background in econometrics and quantitative methods, competence in macroeconomics and monetary economics, and a large capacity to face new challenges.
Exigency, competence, and rigour. These have been the leading principles of the MEMF for more than two decades and so they will be.

Objectives
The aims of the MEMF are: (i) providing advanced knowledge in the monetary and financial fields, based upon the most relevant results achieved by the scientific community; (ii) initiating its students in scientific research, by practicing the appropriate techniques and methodologies; and (iii) preparing the senior staff in monetary and financial institutions linked to financing the economy and to monetary policy issues.

History
The MEMF started in 1992/93, after being a specialisation area of the Master's in Economics, which had been created in 1981. From its beginning until 2010, it was directed by Vitor Constancio, who had also been the coordinator of the above-mentioned specialisation area in Monetary and Financial Economics. Luis Costa joined the directing team in 2003/04 and Miguel St. Aubyn officially joined it in 2010/11 after Vitor Constancio left it to become the Vice-President of the European Central Bank. Nevertheless, Vitor Constancio kept his relation to the MEMF as the non-executive Scientific Adviser.
In 1996/97 the programme was reformulated and in 2000/01 it was reformulated once again, jointly with other M.Sc. programmes in the scientific field of Economics. A new and profound upgrade would take place in 2007/08 in order to adapt the course to the Bologna Process.
The MEMF has worked continuously since its first edition in 1992/93. In this period amost four hundred students were enrolled and more than one hundred graduated. MEMF graduates work in several firms, both in the financial sector (banking, insurance, and other financial institutions) and in the non-financial sector, in public institutions (central banks, ministries, and international organisations), and in the academy, both in Portugal and abroad. Some opinions of former students are available online.

Designed for
The MEMF is intended to complement and to deepen first-cycle education provided by a Bachelor's in Economics or Finance. The main objective is that students learn how to analyse problems in a rigorous and constructive way, developing their ability to assess the contribution of research in Monetary and Financial Economics to solve the problems in the area, and to use advanced empirical and theoretical tools in Economics and Finance.

Employment
A master in Monetary and Financial Economics is prepared to work as an economist, financial analyst, researcher and teacher, senior staff member in financial institutions, central banks, international organisations, and public departments. The programme is also an intermediate step to obtain a Ph.D. in the areas of Economics and Finance.

Operational Regime
Full time. Compulsory courses and elective-option courses with origin in MEMF are taught after 18:00 h.

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Gain both accountancy skills and a deeper understanding of economics in the context of modern finance. Split between our Department of Economics and Essex Business School, you graduate with the academic and business skills needed for a career in the financial sector.

You gain in-depth knowledge of the use of accounting information in organisational control and decision making, plus the use of financial statements and the problems of measurement and disclosure, and explore topics including:
-Optimisation theory
-How economic arguments work
-The role of equilibrium
-Notions of risk and return in equity markets
-Asset pricing and the management of equity portfolios

We are top 5 in the UK for research, with over 90% rated as “world-leading” or “internationally excellent”. Much of this world-class research is related to policy, and we have particular strengths in the areas of:
-Game theory and strategic interactions
-Theoretical and applied econometrics
-Labour economics

The quality of our work is reflected in our stream of publications in high-profile academic journals, including American Economic Review, Econometrica, and Review of Economic Studies.

Our expert staff

Study and work alongside some of the most prominent economists of our time.

Our researchers are at the forefront of their field and have even received MBEs, with students coming from across the globe to study, research or work with us.

Many of our researchers also provide consultancy services to businesses in London and other major financial centres, helping us to develop research for today's society as well as informing our teaching for the future.

For a full list of research interests, see our Department’s staff pages.

Within Essex Business School, you are taught by a highly qualified, enthusiastic team with wide-ranging research interests and proven academic track record.

Our staff specialise in areas including: accounting and economic development in the public and third sectors; regulation and corporate social responsibility; finance and banking; accounting and finance in developing economies; and contemporary financial markets and their participants.

Specialist facilities

Take advantage of our wide range of learning resources to assist you in your studies:
-Extensive software for quantitative analysis is available in all computer labs across the university
-Access a variety of economics databases and multiple copies of textbooks and e-books in the Albert Sloman Library

Our landmark new Essex Business School building on our Colchester Campus is the first zero carbon business school in the UK. Set around a lush winter garden, the Eden-style dome gives the building its own micro-climate. Our new building provides you with a stunning new work environment, offering:
-A virtual trading floor with Bloomberg Terminals offering direct use of Bloomberg data, information and analytics
-A light and spacious lecture theatre, with seating for 250 students
-Study pods and innovation booths for group working
-Dedicated office space for student entrepreneurs
-Networking opportunities with visiting businesses
-A café with an adjacent sun terrace

Your future

After completing your masters, you may wish to extend your knowledge with a research degree – many Essex graduates decide to stay here for further study.

Alternatively, our course also prepares you for employment; recent surveys have shown that higher degree graduates are more likely to obtain jobs at professional or managerial level.

Graduates will be well placed for success in decision making in the interface between economics and accounting. Key skills include analytical reasoning, mathematical techniques, research and the evaluation of business accounts. One recent graduate of MSc Accounting and Financial Economics is now a finance officer for Save the Children China programme.

Our graduates find employment in roles such as business and financial analysts, management consultants, government officials, and economists for banks and other financial organisations.

We also work with the university’s Employability and Careers Centre to help you find out about further work experience, internships, placements, and voluntary opportunities.

Example structure

Postgraduate study is the chance to take your education to the next level. The combination of compulsory and optional modules means our courses help you develop extensive knowledge in your chosen discipline, whilst providing plenty of freedom to pursue your own interests. Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field, therefore to ensure your course is as relevant and up-to-date as possible your core module structure may be subject to change.

MSc Accounting and Financial Economics
-Dissertation
-Economics of Financial Markets
-Issues in Financial Reporting
-Management Accounting
-Mathematical Methods
-Econometric Methods (optional)
-Economic Development Theory (optional)
-Economics of Incentives, Contracts and the Firm (optional)
-Game Theory and Applications (optional)
-International Finance (optional)
-International Trade (optional)
-Macroeconomics (optional)
-Microeconometrics (optional)
-Microeconomics (optional)
-Political Economy (optional)
-Topics in Financial Economics (optional)
-Theory of Industrial Organisation (optional)

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The MSc Managerial and Financial Economics program at HEC Paris is a unique Master’s programs combining rigorous training in quantitative and analytical skills with essential knowledge in economics and finance. Students are prepared perfectly with the essential reflexes for a career in many diverse business sectors, such as in the banking and finance industry, in consulting, as well as in the corporate strategy or corporate finance departments in multinational companies.

AN INTENSIVE AND SELECTIVE MASTER PROGRAM

Admission to the MFE program (http://www.hec.edu/Masters-programs/Master-s-Programs/One-Year-MSc-MS-Programs/MSc-Managerial-and-Financial-Economics/Admission) is highly selective. Only students with a proven track record from a recognized international institution will be admitted. HEC’s expectations regarding the performance of students are very high and students should expect to put in considerable effort during the program.

A BALANCED COMBINATION OF THEORY AND APPLICATIONS

The objective of the program is not to produce theoreticians but to train students to become top corporate executives by equipping them with the capacity to apply economic concepts and methods to their work and by enhancing their understanding of the economic forces shaping the business and financial environment. A solid basis in economics and its applications is an invaluable asset for solving problems in all areas of management.

8 CERTIFICATES TO ENHANCE YOUR EXPERTISE

With 8 certificates (http://www.hec.edu/Masters-programs/Master-s-Programs/One-Year-MSc-MS-Programs/MSc-Managerial-and-Financial-Economics/Program-Details#block-35194) to choose from, students are able to deepen their knowledge in a specific area of their choice, and hence boost their added-value on the job market. The certificates are chaired by some of the top leading global companies.

AN INTERNATIONAL PROGRAM WITH LOCAL CONNECTIONS

MFE students (http://www.hec.edu/Masters-programs/Master-s-Programs/One-Year-MSc-MS-Programs/MSc-Managerial-and-Financial-Economics/Meet-the-Students) follow the same program as the students enrolled in the Managerial and Financial Economics specialization of the Grande Ecole and benefit from the same access to both our powerful local and international networks. Interactions with French students will also enhance their understanding of the local culture and business practices.

STRONG CONNECTIONS WITH THE BUSINESS AND FINANCIAL COMMUNITY

Students will have many opportunities to meet business leaders and top executives from financial institutions through consultancy projects, seminars, internships and career fairs organized on campus.

Program details

http://www.hec.edu/Masters-programs/Master-s-Programs/One-Year-MSc-MS-Programs/MSc-Managerial-and-Financial-Economics/Program-Details

Careers

http://www.hec.edu/Masters-programs/Master-s-Programs/One-Year-MSc-MS-Programs/MSc-Managerial-and-Financial-Economics/Career-Paths

FAQs

http://www.hec.edu/Masters-programs/Master-s-Programs/One-Year-MSc-MS-Programs/MSc-Managerial-and-Financial-Economics/FAQ

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The MSc in Economics and Financial Economics is a high quality taught graduate course in economics which has ESRC recognition under its "1+3" awards system. The course is specifically designed to train students in the use of analytic and quantitative methods in examining economic issues, and to provide research training of the level required to proceed to a PhD programme in Economics. Building on the core Economic Theory, the MSc in Economics and Financial Economics provides specialist modules on financial economics and econometric modelling. Students will be equipped with core skills and techniques for analytical work on financial markets.

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This MA will enable you to master key tools used for the financing of individual companies - derivatives, investment appraisal and risk management - and provides an in-depth study of financial issues affecting the broader economic environment, such as crises and bubbles in the international economy. It offers an opportunity to develop the key analytical skills necessary for carrying out research on contemporary issues in financial economics.

Key features
This course offers a good preparation for work with a range of public and private institutions in the area of applied financial economics, including banks and insurance companies; firms dealing with the reporting and evaluation of financial information; and domestic and international regulatory agencies focusing on the financial sector.

Lectures are supplemented by seminars, giving an opportunity for regular feedback and discussion.
The University's Economics department is actively engaged in research and publication on financial topics, and you will benefit from regular staff seminars and workshops.

What will you study?

You will study core aspects of macro- and microeconomic theory, of applied econometrics and economic policy, and of the long-term historical and conceptual context of the contemporary issues and debates. Consequently, you will master a range of economic analysis, key analytical skills and empirical background necessary to participate in discussions on financial economic issues.

You will work individually with a member of staff to choose a topic for your dissertation, research this topic and write up your conclusions. Your topic will be a contemporary issue relating to a microeconomic or macroeconomic aspect of financial economics. You will work on your dissertation with a member of the Economics department who specialises in and pursues research in the field of financial economics.

Assessment

Graded problem sets, practical coursework, essays, examinations, thematic case studies, policy briefs, and dissertation.

Course structure

Please note that this is an indicative list of modules and is not intended as a definitive list.

Core modules
-Applied Econometrics and Microeconomic Analysis
-Economic Change and Ideas
-Economics Dissertation
-Financial Economics
-Macroeconomic Theory and Policy

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If you want to train as an economist then our Financial Economics diploma will provide you with all you need while offering the greatest flexibility in your future career choices, a great option for those attracted by the opportunities in the financial sector. The skills you will acquire will provide you with an excellent foundation for your future life and career.

Why study the Diploma in Financial Economics at Dundee?

This course is designed to help students understand the principles behind important financial decisions that will prepare them for working in the financial services industry; handling the commercial financial decisions as well as every-day personal finances. These skills are essential as financial economics encompasses a number of aspects of personal and professional life, including insurance, savings and investment.

Gaining this diploma can lead to entry onto the MSc Scottish Graduate Programme in Economics.

What's so good about Economics at Dundee?

The study of Economics as a serious enterprise goes back to the Dundee School of Economics, founded in 1931. Of the many distinguished economists who were members of the Dundee School, the most famous name is that of Nobel Laureate, Ronald Coase.

Today, Economic Studies is committed to preserving that tradition of excellence in research, scholarship and teaching. Our main focus is on applied economics and economic policy. Members of Economic Studies are all actively engaged in research in these areas and seek to enliven and inform their teaching through their own scholarship. Many of the modern debates to which students will be exposed are those in which their teachers have made an active contribution.

Economic Studies is proud of the success of its own members, many of whom have high international reputations. We are equally proud of the success of so many of our graduates and postgraduates in many different walks of life - the civil service, industry, finance and academia.

How you will be taught

Modules start at the beginning of the academic session in September and are taught by lectures and tutorials.
What you will study

The course comprises the following modules:
Microeconomic Analysis
Macroeconomic Analysis
Econometrics
Financial Economic Analysis.

How you will be assessed

The Diploma is awarded for satisfactory performance in coursework and degree examinations.

Careers

A wide range of possibilities is open to you when you graduate, alongside your specific subject knowledge, your degree will provide you with a valuable range of skills that can be used in many different careers such as:

Selecting and analysing information
Solving both abstract and practical problems
Understanding and interpreting numerical and graphical data
Thinking logically and laterally
Communicating your ideas concisely

You may wish to continue onto the MSc Scottish Graduate Programme in Economics.

In recent years our graduates have found employment in many walks of life. Some have decided to pursue careers as professional economists and have gone on to work for the UK Government Economic Service or the Scottish Government. Others have taken up careers in finance or in general management, working for banking multinationals, major consultancies and marketing departments.

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MSc Financial Econometrics combines a practical approach to finance with a strong theoretical approach in econometrics, and is taught jointly between our Department of Economics and Essex Business School. This mix of approaches means that you graduate from our course as someone who is very attractive to a variety of financial institutions, from insurance companies to central banks.

You develop a solid theoretical grounding in econometrics which complements the modules taught by Essex Business School; this structure gives you the opportunity to develop your skills in econometrics and apply them practically in a finance environment. You investigate topics including:
-Asset pricing theories and empirical findings
-Methods of estimation
-Modern econometric techniques
-Time series econometrics

We are top 5 in the UK for research, with over 90% rated as “world-leading” or “internationally excellent”. Much of this world-class research is related to policy, and we have particular strengths in the areas of:
-Game theory and strategic interactions
-Theoretical and applied econometrics
-Labour economics

The quality of our work is reflected in our stream of publications in high-profile academic journals, including American Economic Review, Econometrica, and Review of Economic Studies.

Professional accreditation

Our University is one of only 21 ESRC-accredited Doctoral Training Centres in the UK.

This means that our course can form part of a prestigious 1+3 funding opportunity worth up to £21,575.

Our expert staff

Study and work alongside some of the most prominent economists of our time.

Our researchers are at the forefront of their field and have even received MBEs, with students coming from across the globe to study, research or work with us.

Many of our researchers also provide consultancy services to businesses in London and other major financial centres, helping us to develop research for today's society as well as informing our teaching for the future.

Within Essex Business School, you are taught by a highly qualified, enthusiastic team with wide-ranging research interests and proven academic track record.

Our staff specialise in areas including: accounting and economic development in the public and third sectors; regulation and corporate social responsibility; finance and banking; accounting and finance in developing economies; and contemporary financial markets and their participants.

Specialist facilities

Take advantage of our wide range of learning resources to assist you in your studies:
-Extensive software for quantitative analysis is available in all computer labs across the university
-Access a variety of economics databases and multiple copies of textbooks and e-books in the Albert Sloman Library

Our landmark new Essex Business School building on our Colchester Campus is the first zero carbon business school in the UK. Set around a lush winter garden, the Eden-style dome gives the building its own micro-climate. Our new building provides you with a stunning new work environment, offering:
-A virtual trading floor with Bloomberg Terminals offering direct use of Bloomberg data, information and analytics
-A light and spacious lecture theatre, with seating for 250 students
-Study pods and innovation booths for group working
-Dedicated office space for student entrepreneurs
-Networking opportunities with visiting businesses
-A café with an adjacent sun terrace

Your future

After completing your masters, you may wish to extend your knowledge with a research degree – many Essex graduates decide to stay here for further study.

Alternatively, our course also prepares you for employment; recent surveys have shown that higher degree graduates are more likely to obtain jobs at professional or managerial level.

Our MSc Financial Econometrics will help you to develop a range of skills that will make you highly employable. These include modelling skills, statistical analysis, research skills and developing an understanding of asset pricing and financial markets.

Our graduates find employment in roles such as business and financial analysts, management consultants, government officials, and economists for banks and other financial organisations.

We also work with the university’s Employability and Careers Centre to help you find out about further work experience, internships, placements, and voluntary opportunities.

Example structure

-Time Series Econometrics
-Estimation and Inference in Econometrics
-Dissertation (optional)
-Asset Pricing
-Financial Modelling
-MSc Finance and Investment: Dissertation (optional)
-Econometric Methods (optional)
-Mathematical Methods (optional)
-Monetary Economics (optional)
-Economic Development Theory (optional)
-Microeconomics (optional)
-Macroeconomics (optional)
-Political Economy (optional)
-Banking (optional)
-Economics of Financial Markets (optional)
-Topics in Financial Economics (optional)
-Behavioural Economics I: Individual Decision Making (optional)
-Computational Agent-Based Macro-Economics, Financial Markets and Policy Design (optional)
-Behavioural Economics II: Games and Markets (optional)
-Theory of Industrial Organisation (optional)
-International Trade (optional)
-International Finance (optional)
-Game Theory and Applications (optional)
-Economics of Incentives, Contracts and the Firm (optional)
-Microeconometrics (optional)
-Panel Data Methods (optional)
-Applications of Data Analysis (optional)
-Corporate Finance (optional)
-Derivative Securities (optional)
-Portfolio Management (optional)
-Exchange Rates and International Finance (optional)
-Behavioural Finance (optional)
-Risk Management (optional)
-Fixed Income Securities (optional)
-Trading Global Financial Markets (optional)
-Modern Banking (optional)
-Bank Strategy and Risk (optional)
-Industry Expert Lectures in Finance (optional)

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About the course

This course enables you to specialise in financial economics and managing assets whilst also being flexible to choose other finance or economic modules.

It will prepare you for a career in financial corporations and government bodies involved with stock markets.

Your career

Our masters courses will train you for a career as a professional economist. Employers in a wide range of sectors are increasingly looking for economics graduates with postgraduate qualifications.

Recent graduates have taken economist jobs in finance and consultancy such as Bank of America and Deloitte. Others work in public sector and government departments in the UK and overseas such as the Department for Work and Pensions. Some graduates go on to work in academia or in research.

You will also receive advice in taking the next step in your career with dedicated employability support and access to opportunities such as internships that can significantly enhance your career.

Our research influences policy

You will be taught by some of the top economic experts in their field, receiving the latest cutting-edge teaching from people that care passionately about their subject.

Our research influences and informs real economic policy. We advise government departments in the UK and internationally and global organisations including the European Union, the World Bank and the Organisation for Economic Co-operation and Development (OECD).

The SF6D utility index for valuing health status was developed at Sheffield. This index is used by decision-makers around the world to evaluate the cost effectiveness of health care interventions.

A collegiate economics community

We’re one of the few stand-alone economics departments in the north of England and we’re not part of a large business school. This means you will be part of an economics community, where you will get to know your tutors personally and build friendships with the other students on the masters courses.

Facilities

Our building is in the heart of the campus in the city centre and has undergone a £3.5 million refurbishment. You will have access to the latest economics computer software such as STATA and MATLAB. Our building is close to The Diamond and the Information Commons which are state-of-the-art facilities for private study with access to the latest economics books and journals.

Our courses

We offer a range of masters courses both full-time and part-time. All of our courses give you a thorough technical grounding in economic theory and the techniques of applied economic analysis.

Our courses allow you to specialise in a number of different areas, for example finance and financial economics. If you want to advance your knowledge in one of these areas, Sheffield is one of the best places in the UK.

For each course you’ll need to pass eight taught modules over two semesters, four in each. Modules will be taught mainly through lectures, tutorials and computer labs. Assessment is mostly by exams but also includes some coursework. The compulsory dissertation gives you the chance to conduct your own research over a ten week period.

Studentships

A limited number of National Institute for Health Research (NIHR) studentships are available for home and EU students on this course.

Core modules

Microeconomic Analysis; Macroeconomic Analysis; Econometric Methods; Modern Finance; Asset Pricing.

Examples of optional modules

Applied Microeconometrics; Applied Macroeconometrics; International Trade; Development Finance; International Money and Finance; Industrial Organisation; Monetary Economics; Public Economics; Public Policy Evaluation.

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