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MPhil in Finance and Economics

Course Description

The MPhil in Finance and Economics is a one-year master's degree that runs from mid-September to late July. It is an intensive course combining advanced study and research, tailored for people with one year or less of work experience who intend to go on to work for industry. It places particular emphasis on economic coverage of financial themes, beginning from the institutional background, moving on to careful consideration of how observed institutions should be modelled, and ending by relating existing models to data and discussing how these models should be improved when they do not fit the data.

See the website http://www.graduate.study.cam.ac.uk/courses/directory/ececmpmfe

Course detail

On completion of the M.Phil degree students should have:

1. acquired an advanced technical training in microeconomics, and econometrics;
2. acquired, a solid grounding in the principles and practice of financial markets and developed the understanding of the tools necessary to make good financial decisions.
3. begun to acquire independent research skills and experience of putting them into practice;
4. acquired experience and guidance in formulating a realistic research topic and prepared written work to a strict timetable;
5. acquired sufficient knowledge and understanding of advanced economics to proceed to a career as a professional economist in industry or to a research degree.


Each module consists of eighteen hours of lectures, together with supporting classes.


- To attend the preparatory course in mathematics and statistics
- Take six compulsory 18-hour modules:
- Take two specialist modules, only one of which may be taken from the options from either the MPhil in Economics or from the Mathematics Department
- Write a dissertation of up to 10,000 words


Students submit a 10,000 word dissertation at the end of July worth 20% of the final overall mark.

Students are examined on 8 coursework modules in May/June worth 80% of the final overall mark.

There is an internal examination on the material covered in the preparatory course which is assessed on a pass/fail basis. Classes in problem sets take place for compulsory modules - one problem set for each of the compulsory modules is formally assessed. Mid-course examinations in microeconomics I, econometric methods and Finance I and II take place in January; marks are recorded but do not count towards the final degree result. Each student receives 2 hours of supervision for the dissertation component of the MPhil in Finance and Economics.


Although the MPhil in Finance and Economics is designed for students who wish to obtain a one-year master's qualification before leaving academic economics, it will still be possible for students to continue onto the PhD programme. To do this, students will be expected to perform at a standard that is considered satisfactory by the Admissions Committee and subject to finding a suitable supervisor.

How to apply: http://www.graduate.study.cam.ac.uk/applying

Funding Opportunities

There are a number of scholarships available to EU candidates applying for the MPhil in Finance and Economics

General Funding Opportunities http://www.graduate.study.cam.ac.uk/finance/funding

Visit the MPhil in Finance and Economics page on the University of Cambridge website for more details!

Entry Requirements

Applicants for this course should have achieved a UK High II.i Honours Degree. At least a good 2.1 undergraduate degree in economics (a business studies, accountancy or management degree or qualification does not provide an adequate background). Applicants from North American institutions: a GPA of at least 3.6 out of 4 or the equivalent. Applicants from other educational systems: within the top ten per cent of their reference group.

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