The Department of Finance enjoys a pre-eminent reputation for the excellence of its teaching and research. Our diverse faculty and student body come from across the globe, providing a rich environment in which to research and study finance, ensuring that we continue to rank alongside the most highly-rated Departments in the world.
Students on the MSc Finance and Economics programme are required to complete courses to the total value of four full units, comprising three full-unit core courses and two half-unit elective courses.
All registered students will participate in a compulsory pre-sessional programme in August 2023. This combines academic preparation with professional development workshops and events.
Students will take part in the EC400 Introductory Course in Mathematics and Statistics (before the main term-time teaching programme starts). The course includes treatment of dynamic programming, continuous time dynamic optimisation, quadratic forms, Kuhn-Tucker theorem, joint and conditional probability distributions, Gauss-Markov assumptions and maximum likelihood estimation, amongst other topics.
Students will participate in careers skills development sessions delivered by in-house and external professionals. The programme also includes networking and social events with alumni, a City Speaker Series of interactive talks from leading finance professionals and preparation for technical finance interviews. The programme is designed to enable students to be ready for the competitive financial services sector job market.
Students take three units’ worth of compulsory core courses and choose two half-unit elective courses from a range offered within the Department, enabling them to tailor the programme to their interests.
Core courses (full unit each)
Financial Economics (taught entirely in Michaelmas term)
Examines investors' behaviour, market equilibrium and asset pricing. Includes a mandatory preparatory course in stochastic calculus and accounting in Week 6.
Financial Econometrics (taught in Michaelmas and Lent terms)
Looks at the techniques of empirical investigation in economics and finance.
Microeconomics (taught in Michaelmas and Lent terms)
Develops the basic tools for analysing problems of resource allocation used by economists.
Microeconomics for MSc F&E* (half unit, taught in Michaelmas term)
Develops the basic tools for analysing problems of resource allocation used by economists working in research, government and business.
Macroeconomics for MSc F&E* (half unit, taught in Lent term)
Focuses on the main characteristics of business cycle fluctuations with a special emphasis on what happened during the financial crisis and different macroeconomic models to study business cycles.
*Students with relevant credentials can apply to replace the full unit of Microeconomics with a half-unit of Microeconomics and a half-unit of Macroeconomics
Courses to the value of one unit from a range of options
Elective courses (half unit each)
Dedicated courses (Finance students only)
Advanced Financial Economics
Fixed Income Securities and Credit Markets
Topics in Portfolio Management
Risk Management in Financial Markets
International Finance A
Non-dedicated courses (open to non-Finance students)
Quantitative Security Analysis
Applied Corporate Finance
Sustainable Finance and Impact Investing
You will complete a 6000 word structured project in place of an exam in one of your elective courses.
MSc comparison: view an overview of all of the Master’s programmes in the Department of Finance
For the most up-to-date list of optional courses please visit the relevant School Calendar page.
Please note that, while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.
You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s Calendar, or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the updated graduate course and programme information page.