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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

Year of entry: 2018

Overview

Degree awarded
Master of Science
Duration
12 Months. [Full-Time] 24 Months [Part-Time]
Entry requirements

A UK 2:1 honours degree (or overseas equivalent) in economics,   finance, mathematics  or a related subject with economic theory,  mathematics and econometrics studied at a high level.

Applicants with a  2:1 in a less technical economics degree, with for example economic theory only  studied to intermediate level,  or a 2:2  in a technical economics degree may be considered for entry onto the MA Economics.

MATHS & STATS PREPARATION

1. Please visit our   Introduction to Quantitative Methods in Economics page  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 pre-session course 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 your programme. Attending this course is mandatory and is offered free of charge.  The course will run during induction week and we recommend that you spend some time between now and September studying and familiarising yourself with the course material on the website, especially if you might not be able to attend the course.

Full entry requirements

How to apply

Apply online

Useful information;

  • There is NO application fee.
  • International (non UK/EU) are advised to apply by 1 June.
  • UK/EU can apply up until 1 September.
  • We DO NOT require references, but please indicate the names of two referees on your form and we will request them if necessary.
  • Writing sample NOT required.
  • Personal statement NOT required.

Course options

Full-time Part-time Full-time distance learning Part-time distance learning
MSc Y Y N N

Course overview

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

Course Director: Professor Igor Evstigneev, email; igor.evstigneev@manchester.ac.uk

Admissions Tutor: Dr Nick Weaver, email; nicholas.j.weaver@manchester.ac.uk

Open days

For details of the next University Postgraduate open day, visit open days and visits

Fees

For entry in the academic year beginning September 2018, the tuition fees are as follows:

  • MSc (full-time)
    UK/EU students (per annum): £12,000
    International students (per annum): £19,500
  • MSc (part-time)
    UK/EU students (per annum): £6,000
    International students (per annum): £9,500

The fees quoted above will be fully inclusive for the course tuition, administration and computational costs during your studies.

All fees for entry will be subject to yearly review and incremental rises per annum are also likely over the duration of courses lasting more than a year for UK/EU students (fees are typically fixed for International students, for the course duration at the year of entry). For general fees information please visit: postgraduate fees . Always contact the department if you are unsure which fee applies to your qualification award and method of attendance.

Self-funded international applicants for this course will be required to pay a deposit of £1000 towards their tuition fees before a confirmation of acceptance for studies (CAS) is issued. This deposit will only be refunded if immigration permission is refused. We will notify you about how and when to make this payment.

Scholarships/sponsorships

Please see the School's funding page for further information.

If you are already a graduate of The University of Manchester, please visit,

Faculty of Humanities/School of Social Sciences - Loyalty Bursary

Contact details

Academic department
School of Social Sciences
Contact name
Janet Smith
Telephone
0161 275 4471
Facsimile
0161 275 2450
Email
Website
http://www.manchester.ac.uk/economics
Academic department overview

Entry requirements

Academic entry qualification overview

A UK 2:1 honours degree (or overseas equivalent) in economics,   finance, mathematics  or a related subject with economic theory,  mathematics and econometrics studied at a high level.

Applicants with a  2:1 in a less technical economics degree, with for example economic theory only  studied to intermediate level,  or a 2:2  in a technical economics degree may be considered for entry onto the MA Economics.

MATHS & STATS PREPARATION

1. Please visit our   Introduction to Quantitative Methods in Economics page  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 pre-session course 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 your programme. Attending this course is mandatory and is offered free of charge.  The course will run during induction week and we recommend that you spend some time between now and September studying and familiarising yourself with the course material on the website, especially if you might not be able to attend the course.

English language

IELTS - overall score of 7, including 7 in writing with no further component score below 6.0

TOEFL IBT - overall score of 100 with 25 in each section.

TOEFL code for Manchester is 0757

Scores are valid for 2 years.

For students who require a Tier 4 visa to study in the UK, your test score is valid for 2 years preceding the course start date.

For example;

Test taken on or after 17 September 2016 - CAS issued June 2018 = Score is VALID

Test taken before 17 September 2016 = Score is INVALID

Please note that CAS statements are issued only when all conditions of the offer have been satisfied, PDF copy of passport received and the offer accepted.

Applicants from certain countries MAY be exempt from having to provide an IELTS or TOEFL score.  For further advice please email pg-soss@manchester.ac.uk

Pre-Sessional English Courses:

If you eligible to do a pre-sessional English course (either 6 weeks or 10 weeks, depending on your English score), you will be required to successfully complete the course at the required level before you are permitted to register on your academic course).

The dates and fees for next summer (2018) are now available on the English Language Centre's website.

English language test validity

Some English Language test results are only valid for two years. Your English Language test report must be valid on the start date of the course.

Application and selection

How to apply

Apply online

Useful information;

  • There is NO application fee.
  • International (non UK/EU) are advised to apply by 1 June.
  • UK/EU can apply up until 1 September.
  • We DO NOT require references, but please indicate the names of two referees on your form and we will request them if necessary.
  • Writing sample NOT required.
  • Personal statement NOT required.

Advice to applicants

Points Based System (PBS) International applicants who will require a visa to study in the UK can obtain up-to-date information on the latest student visa advice and guidelines. .

How your application is considered

Applications are initially assessed by the Admissions Team and referred to the Admissions Tutor when required.

Re-applications

If you applied in the previous year and your application was not successful you may apply again. Your application will be considered against the standard course entry criteria for that year of entry. In your new application you should demonstrate how your application has improved. We may draw upon all information from your previous applications or any previous registrations at the University as a student when assessing your suitability for your chosen course.

Course details

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

Careers

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.