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Money, Banking and Finance (MSc)

Course Description

MSc in Money, Banking and Finance

• Your first degree needs to contain a reasonable amount of economics – specifically, economics (intermediate micro and macro level), quantitative methods training background, and modules in money, banking, international finance, or international economics.

• If your background is exclusively in accounting, business administration, marketing or law/international relations you are unlikely to be qualified to undertake this programme and we suggest you look at other programmes offered by the University.

• You will develop high analytical ability in order to understand and develop the methods and rationale underlying modern banking, monetary policy and finance.

• You will become knowledgeable about the functioning and rationale of leading financial institutions, commercial and central banking, and the conduct and impact of monetary policy upon the financial system.

• You will develop analytical skills and competence with empirical tools.

• In designing and writing your dissertation you will receive individual supervision by scholars of international standing.

• Career destinations include commercial and central banking, investment banking, financial management, accounting and finance, assurance, insurance, actuarial science, corporate trading, venture capital, private equity, corporate finance, economic, industrial and management consultancy.


* An academic team of 30 composed of world-leading specialists in Behavioural Economics, Decision Theory, Econometrics, Development, Growth, Finance, International Economics, Monetary Policy, and Strategy.

* You will enhance your analytical and decision-making abilities through training in problem solving, specifically through the use of quantitative and model-based methods of analysis.

* Dissertations are supervised on an individual basis by members of staff with internationally recognised expertise.

* Regular seminars and workshops bring you into contact with cutting edge research.

* Entry is competitive and entrance standards are high.

* These qualifications have taken previous students to a wide range of career opportunities across the globe.

Economics and finance are broad and important research fields linking almost all aspects of human activity: running a business, purchasing stocks and bonds, managing a charity, taking on a job, getting married, regulating an industry, administering a loan and so on. Despite this diversity the key concept is simple: economic agents act in pursuit of their own interests and this simple and unifying concept can be rigorously applied in many areas of research. These extend from core areas like macroeconomics, the business enterprise, and household behaviour, to areas such as innovation, taxation, the environment, quality of life, financial markets, the business cycle and inflation.

Economics and finance is expanding and changing at St Andrews and we have recently welcomed a number of new lecturing staff adding to our cosmopolitan staff. We bring understanding and excitement from the latest cutting-edge research into the teaching of all our postgraduate degree programmes. Our emphasis on smaller group teaching allows a high level of interaction between both students and teachers, encouraging a warm and friendly learning environment. We also offer an opportunity for our postgraduates to engage with our enthusiastic undergraduates via the School’s tutorial system. We encourage our postgraduates to take a full part in our guest lecturer seminar series and to attend international events, so broadening their interests and enabling exploration of the
widest application of economic theories.


St Andrews has a tradition in economics and finance dating back over one hundred years.The School of Economics & Finance is located in Castlecliffe, a beautiful Edwardian mansion on The Scores, overlooking the delightful St Andrews Bay. Many of our students enjoy the rural pursuits on our doorstep with the opportunity to venture out to the mountains and even ski in the Cairngorms in the winter months.


Our modules are delivered through traditional lectures and supported by a combination of tutorials, seminars or computer laboratory work, as appropriate. Choosing your individual syllabus is important and is done in personal consultation with your course director. You will be assessed by both continuous assessment and examinations, with exams held at the end of each semester. Students who complete the taught component, but not the dissertation, are eligible for a Postgraduate Diploma.

Each module typically has 20 lecture contact hours, and four seminar/ workshop/ tutorial contact hours (there is some variation by specific module design). Assessment is typically 50% by continuous assessment and 50% by two-hour examination (there is some variation in format by module design). Intensive independent study is expected of all students.


There is a long-standing tradition of our graduates working in a wide variety of challenging and rewarding posts, in economics, finance, commerce, insurance, industry, academia, diplomatic service, and banking. They work in the UK, Europe, and North America, and more frequently in locations such as China, Taiwan, Hong Kong, Japan and Thailand.

Some more widely recognised graduates in Economics and Finance from St Andrews have included: Professor Sir Alan Peacock, Professor Ian Wooton, Professor Grant Baird, Professor Sheila Dow, Alex Pratt OBE, Alex Salmond former First Minister.

Visit the Money, Banking and Finance (MSc) page on the University of St Andrews website for more details!

(Student Profile)


St Andrews is really an amazing place for macroeconomics and finance study. Engaging lectures and various seminars lay a solid
foundation of monetary policy and finance theories. I can discuss the current global issues with classmates of diverse backgrounds, which pushes me to apply the theories to the dynamic world. Also, economic forums and various business-related societies provide lots of talks and activities. I find myself challenged every day. It is a fantastic academic journey.

This University has an open intellectual atmosphere with a long history. In the School of Economics & Finance, it is not difficult to find
professional teachers and brilliant students. Seminars and conferences are held by famous scholars and economists from all over the world which definitely broaden your outlook. The course has given me the big picture about the banking industry and furthers my understanding of the banking system, mechanism and operation. It has also improved my ability with regard to quantitative analysis, which is helpful for my future career.


Entry Requirements

Our minimum academic requirement for entry to most programmes is a 2:1 degree classification from a recognised UK university or the equivalent in a subject-related area

Course Fees

2017/18: Home/EU £9,870; Overseas £20,370

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