Financial and Industrial Economics

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The aim of this Masters is to provide you with a solid technical background in finance, economic analysis, quantitative methods and research methods; ideal for those seeking a career in management or in the financial sector. The innovative feature of the course is that it recognises the importance of understanding the industrial sector in analysing the behaviour of financial markets and it is designed for students with particular interests in the technical analysis of the financial and industrial markets.
With an intake of 30-35 students you will benefit from a strong sense of group-identity and enjoy close contact with the academic staff of the department. The course director serves as your personal advisor up until the spring and you will then be assigned a personal dissertation supervisor.
The MSc Financial & Industrial Economics is an excellent preparation for further academic studies or for careers in the public, private and financial services sectors.

You will study six core course units, including a compulsory pre-sessional mathematics refresher course and a dissertation, and two extra half units covering financial and industrial economics.

Core course units:

Pre-sessional mathematics refresher course All students attend the compulsory pre-sessional mathematics refresher course, which runs for 2 weeks in September, before the start of term.
Microeconomics - This is a graduate level introduction to microeconomic theory. You will cover the theory of the firm and consumer behaviour, partial and general equilibrium analysis, monopoly and oligopoly, welfare economics, static and dynamic games, games with incomplete information, Bayesian decision theory, and common knowledge.
Macroeconomics - You will be provided with an introduction to modern intertemporal macroeconomics focusing on economic growth. You will also develop and apply tools for dynamic economic analysis that are useful in all fields of economics.
Econometrics - The first half of the unit focuses on Maximum Likelihood (ML) estimation and the analysis of models with discrete and limited dependent variables which arise frequently in economic analysis. The second half of the unit concerns the analysis of time series data including ARMA models, the analysis of nonstationary time series data and cointegration analysis, simultaneous equations models and vector autoregressive models.
Research Methods - While conducting research sounds like an easy task, it is paved with difficulties. This course aims to help you avoid these traps and develop good research skills so that you can conduct an efficient piece of research at the end of your degree.
Dissertation - The dissertation gives you the opportunity to analyse an economics issue in depth. You will be assigned a dissertation supervisor and by the end of March, submit a preliminary dissertation report that contains a clear statement of the problem under consideration, the structure of the project and the research methods that are going to be applied. The dissertation is then written over the summer.
Financial Economics - You will be provided with the tools for analysing financial markets and the banking system. The unit covers issues arising from the banking system and credit markets and the implications of multiple equilibria, asymmetric information and market failure in these markets.
Industrial Economics - You will examine the behaviour of firms depending on industry characteristics. Starting from a brief analysis of monopoly and perfect competition this course moves on to an analysis of the interaction of firms in oligopolistic industries. Using standard game theoretic analysis of modern industrial economics, relevant industry strategies such as collusion, price discrimination, vertical control and entry and exit will be analysed.

On completion of the course graduates will have:

* advanced training in the principles of financial and industrial economics and their application appropriate to postgraduate level
* developed the ability to apply the advanced knowledge, research methods and skills they have acquired to the solution of theoretical and/or applied problems in economic policy
* the ability evaluate critically current research and advanced scholarship in the discipline
* analytical skills and an ability to develop simplifying frameworks for studying the real world and to be able to appreciate what would be an appropriate level of abstraction for a range of economic issues
* a range of transferable skills that will be of value in employment and self-employment
* the knowledge and skills base from which they can proceed to research in economics and related areas.

First degreeUK First (1st) or Upper Second Class Honours degree (2:1) or equivalent in Economics, Mathematics, or another maths-based discipline. English language requirementsIELTS score of 6.5 with 7 in writing for non-native English speaking applicants.Students with a good undergraduate degree in a subject other than Economics should apply for our Graduate (Conversion) Diploma in Economics. This is a nine-month conversion course designed to bring you up to entry standard for the Masters degree.Students from overseas should visit the International| pages for information on the entry requirements from their country and further information on English language requirements. Royal Holloway International offers a Pre-Masters Diploma for International Students and English language pre-sessional courses, allowing students the opportunity to develop their study skills and English language before starting their postgraduate degree. English Language Requirements CAE score: (read more) Cambridge English: Advanced (CAE) is part of the Cambridge English suite and is targeted at a high level (IETLS 6.5-8.0). It is an international English language exam set at the right level for academic and professional success. Developed by Cambridge English Language Assessment - part of the University of Cambridge - it helps you stand out from the crowd as a high achiever. 75 (Grade B)