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 of you who seek a quantitative degree in financial economics, by combining a solid training in financial economics and macroeconomic principles, as well as the quantitative methods 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 you to quantitative techniques and theory that will be useful in the financial industry – a portfolio manager, risk management consultant, or financial analyst.
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.
3. 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 one.
Teaching and learning
Part-time students complete the full-time course over two years. There are no evening or weekend course units available on the part-time course.
You must first check the schedule of the compulsory course units and then select your optional units to suit your requirements.
Updated timetable information will be available from mid-August and you will have the opportunity to discuss your unit 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 pass-level.
Course unit details
The program offers four core units in semester one:
- macroeconomic theory;
- financial economics I;
- econometric methods, and;
- mathematical methods in economic analysis.
In semester two, three core units:
- financial economics II;
- financial econometrics or applied macro econometrics or cross section econometrics;
- plus two optional modules from a list of choices (eg monetary economics, public economics, and economic growth).
The sequence of financial economics I and II 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.
|Community Based Participatory Action Research (CBPAR)||CBPAR076||15||Mandatory|
|Financial Economics I||ECON60401||15||Mandatory|
|Introduction to Quantitative Methods in Economics||ECON60901||0||Mandatory|
|Financial Economics II||ECON61262||15||Mandatory|
|Mathematical Methods in Economic Analysis||ECON60081||15||Mandatory|
|Poverty, Inequality and Government Policy in Less Developed Countries||ECON60212||15||Optional|