Financial Economics

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This subject area is popular among students who intend to become professionals and it also appeals to well trained economics graduates who intend to pursue further graduate research training.

Course aims This programme aims to provide balanced and rigorous training in modern theories and techniques in financial economics at the postgraduate level. Students are introduced to key concepts, ideas, tools and techniques via core units in Micro- and Macro-economics and in Financial Economics and Mathematical Finance, which are supplemented by econometrics units and by related optional course units. Students have the opportunity to combine and practice their skills in writing a summer dissertation. By the end of the programme, you should be able to read and understand the leading journals, develop financial economics models of your own from which to derive original results and offer a critique of existing theories that may trigger new approaches to issues in financial economics.Special featuresThe distinctive feature of this new programme at Manchester is the elegant combination of Mathematical Economics and Mathematical Finance units in its core which identify the degree as one that is leaning towards quantitative economics training. Therefore, this course is able to cater for both types of students, the ones interested in a career straight after the MSc and the ones interested in postgraduate research.Additional course information This course is directed by Professor Igor Evstigneev, who is an internationally leading scholar in the field of Mathematical Finance and Mathematical Economics. This course is designed to meet the demand for those students who seek a quantitative degree in financial economics, by combining a solid training in microeconomic and macroeconomic principles and economic theory, quantitative methods, financial economics & econometrics and mathematical finance.

Module details

The intended structure is to have four core units in Semester 1 (Macroeconomics, Microeconomics, Mathematical Economics, Time Series Analysis/Econometrics) and, in Semester 2, two core units (Mathematical Finance, Financial Economics) plus two optional units from list of choices (e.g., Financial Econometrics, Monetary Economics, Topics in Economic Theory).

Teaching and learningMost course units use a formal lecture programme and supporting tutorial or example classes. A successful MSc requires gaining 180 credits over 12 months of training. This is a mixture of lectures, tutorials/seminars, coursework, end of semester exams and a dissertation. There are four compulsory course units in Semester 1, each being worth 15 Credits. In Semester 2 there are two compulsory and two optional course units, also each worth 15 credits. During the December Dissertation workshop you have the opportunity to choose a summer dissertation topic from a list of topics prepared by potential supervisors.Progression and assessmentAssessment 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.

Full entry requirements Academic entry qualification overview: At least an upper second class honours degree in Economics, Finance or a related subject (e.g., Mathematics, Statistics), or the overseas equivalent. Candidates should have studied Microeconomics and Macroeconomics, with at least one of these subjects in their final year of undergraduate studies. Applicants will need a solid background in mathematics/mathematical economics and statistics/econometrics. Students who do not meet these entry criteria can apply for entry onto our Postgraduate Diploma Economics programme to gain the required qualification for the MSc. 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. 60 (Grade C)