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School of Social Sciences

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MSc Financial Economics
Apply specialist economics skills and knowledge to the study of financial markets.

MSc Financial Economics / Course details

Year of entry: 2018

Course description

  • 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.

Special features

Quantitative methods preparation for the MSc

1. Please visit our Introduction to Quantitative Methods in Economics website where you will find information about the minimum level of knowledge of mathematics and statistics that you should possess from your current or previous training.

2. On the same website, please look at the details and content of our Introduction course on Quantitative Methods in Economics which builds on the knowledge resumed in (1) and which is designed to equip you with further technical skills that you will require before starting the MSc. You are strongly advised to attend this course which is offered, free of charge.  The course will run during induction week and we recommend that you spend some time between July 1 and September studying and familiarising yourself with the course material on the website, especially if you might not be able to attend the course. The significance of this course is illustrated by the fact that the obtained marks contribute 10% to the final marks of the Maths Methods and Econometrics compulsory units of semester 1.

Teaching and learning

IMPORTANT NOTE ON PART-TIME STUDY

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.

Course unit details

The program offers four core units in Semester 1 (Macroeconomics, Microeconomics, Econometric Methods, Mathematical Methods in Economic Analysis) and in Semester 2 three core units (Mathematical Finance, Financial Economics, Financial Econometrics or Applied Macroeconometrics or Cross Section Econometrics) plus one optional module from a list of choices (eg, Monetary Economics, Public Economics, and Economic Growth). Such modules as Mathematical Finance and Financial Economics not only contain the material which is a recognised classic in the field, but also reflect new trends in the area (eg elements of Behavioural Economics and Finance).

Course unit list

The course unit details given below are subject to change, and are the latest example of the curriculum available on this course of study.

TitleCodeCredit ratingMandatory/optional
Mathematical Methods in Economic Analysis ECON60081 15 Mandatory
Microeconomic Theory ECON60101 15 Mandatory
Macroeconomic Theory ECON60111 15 Mandatory
Mathematical Finance ECON60402 15 Mandatory
Introduction to Quantitative Methods in Economics ECON60901 0 Mandatory
Econometric Methods ECON61001 15 Mandatory
Financial Economics ECON61262 15 Mandatory
Dissertation ECON63000 60 Mandatory
Cross Section Econometrics ECON60052 15 Optional
Macroeconomic Theory and Policy ECON60122 15 Optional
Public Economics ECON60202 15 Optional
Poverty, Inequality and Government Policy in Less Developed Countries ECON60212 15 Optional
Financial Econometrics ECON60332 15 Optional
Political Economics ECON60492 15 Optional
Applied Macroeconometrics ECON60522 15 Optional
Mathematical Economics ECON60562 15 Optional
Economic Growth ECON60662 15 Optional
Displaying 10 of 17 course units

Disability support

Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service. Email: dass@manchester.ac.uk