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Duration

1 years

Attendance

Full Time

Award

Degree of Master of Science

School of Study

Economics


Course Detail

MSc Finance and Economics is designed to provide you with an advanced training in economics, whilst enabling specialisation in the area of finance. Academics who teach on this course include international experts in several areas of economics and individuals with practice experience of financial markets.

You will also benefit from the growing research base in financial markets based in the School of Economics. You will be encouraged to attend relevant   workshops, seminars and conferences.  Some of these on financial regulation may take place in association with the ESRC Centre for Competition Policy (CCP) or on behavioural finance in association with the Centre for Behavioural and Experimental Social Sciences (CBESS).

MSc Finance and Economics fits into our Academic and Professional Programme and is designed to provide intensive research-led training in advanced economic theory, econometrics and research methods, as well as a particular speciality. It is suitable for those with a good undergraduate degree (equivalent to 2:1 or 1st) that contains a substantial component of economics or who have a Graduate Diploma in Economics.

This course is ideal for those who aim to gain employment as professional economists in government, financial institutions, business, commerce, industry, international agencies and other similar organisations. It is also suitable for those seeking eventual PhD enrolment and/or an academic career as a lecturer in Economics. Many of our former PhD students now hold academic posts as lecturers in University departments both in the UK and overseas.

Course Structure

You will study compulsory modules in economic theory and financial econometrics, as well as having the opportunity to write a dissertation on a topic of your own choice, supervised by an academic from the School.

You will also be able to choose from a range of optional modules, including financial markets, international finance and mathematics. For further details of the modules currently on offer, please see the Course Profile tab.

Assessment

Assessment will be carried out through combinations of coursework and exams. You will also write a dissertation on a topic of your choice, supervised individually by an academic from the School.


Why choose usAs a School, we are committed to providing our students with a first-rate academic experience where excellence in teaching goes hand in hand with internationally renowned research.

Due to the expertise within the School, we are able to offer a suite of postgraduate taught Master’s degree courses to suit a wide array of needs.  Our Academic and Professional Programme is for students with a good undergraduate degree in economics, who are looking for an intensive research-led training focus.  Our Applied Training degrees are appropriate for graduates with a limited economics background who wish to develop specialist expertise without committing to the full research training Academic and Professional Programme.  We also offer the Graduate Diploma in Economics for those without a background in the subject and which can act as a progression route to our postgraduate taught programmes.

Whatever route you choose, as a School we give you the opportunity to build on previous knowledge and engage with a vast array of topics which will help you to understand how individuals make choices, how those choices create markets, and how markets interact to create national and global economies. Depending on the course you choose, you will also have the opportunity to develop your understanding of how economic policies can be developed to improve social welfare.

Teaching and Excellent Facilities

We have developed a collegiate environment in the School which provides for a lively close knit community with friendly, approachable academic staff. Our students have consistently ranked their student experience highly and this is reflected in us being ranked 4th for overall satisfaction out of all English mainstream university Economics departments in the 2013 National Student Survey.

Our teaching is informed by cutting edge research and practice; members of our academic staff advise the European Commission, the Office of Fair Trading and other institutions, and their day-to-day experience in the running of competition policy gives a practical angle to the academic rigour of their teaching.

We deliver teaching through a combination of lectures, seminars and practical work, including computer lab sessions.

Research expertise

We have an international reputation for our research into experimental and behavioural economics, industrial and competition economics, and applied and financial economics.  We play a leading role in the Centre for Behavioural and Experimental Social Science (CBESS) and the ESRC Centre for Competition Policy (CCP), which has a leadership role in the international policy debate in industrial and competition economics.

The School is ranked among the top European Economics departments in the Centre for Higher Education Excellence Group for outstanding research performance indicators, so as our teaching is research-led, this means you will learn from some of the UK’s leading academics within these fields. Economics at UEA was also ranked fifth in the world and first in the UK in this area according to an independent study by econphd.net and in the most recent Research Assessment Exercise (2008), 95 per cent of our research was found to be of international standing.

Employability

Employability is a very important aspect of all the School’s degree programmes. We use a wide range of assessment methods in our teaching that enable students to develop and practise a number of skills, which are highly valued by employers.

As well as encouraging students to attend frequent university-wide careers and employability events, we have our own individual careers programme offering a number of economics focused events. These include careers coaching workshops, alumni speakers discussing their career paths and offering advice on securing employment.

We organise a Contemporary Economics Issues seminar series where we invite a number of speakers to discuss their own careers and occupations, and give students an opportunity to speak with them both formally and informally.

Our students also have the opportunity to take an active role in the running of the School through student bodies and the Norwich Economics Papers. This is a student journal, contributed to and run by the students themselves.

Year

Compulsory Study (100 credits)

Students must study the following modules for 100 credits:

Name Code Credits

ECONOMIC THEORY I

This is an advanced module in microeconomic theory, designed for postgraduate students with a strong background in economics. The topics covered in this module include the duality approach to demand theory, firm theory, general equilibrium theory, game theory, choice under uncertainty, agency theory and the economics of asymmetric information. The rational-choice foundations of microeconomics are also critically examined.

ECO-M005

20

ECONOMICS DISSERTATION (60 CREDITS)

All students taking the ECO MSc degrees in Economics, Environmental Economics, Experimental Economics, Industrial Economics, Finance and Economics, Media Economics, International Business Finance and Economics and International Business, and Economics and International Relations, are required to submit a dissertation. This module prepares students to write a dissertation of a length and technical complexity as specified in their Course Guide, on a topic approved by the Course Director or other authorised person.

ECO-M10X

60

FINANCIAL ECONOMETRICS

This is a module of two halves. The first half introduces some basic econometric techniques, and the problems which arise in their use. The second half applies the skills acquired in the first half to particular problems in financial economics such as the capital asset pricing model, exchange rate forecasting, testing the efficient markets hypothesis, modelling non-constant volatility and estimation of VAR models; Granger-causality testing, and option valuation. With the aid of the specialist econometric software package STATA, theoretical models are estimated and tested using real data.

ECO-M017

20

Option A Study (80 credits)

Students will select 80 credits from the following modules:

Name Code Credits

APPLIED ECONOMETRICS

This module builds on the econometric theory of earlier courses: ECO-M001, ECO-M017 and ECO-M003. It attempts to place the theoretical ideas of those modules in the context of current applied analysis. The module is divided into five main parts: data issues and distribution theory time series econometrics, estimation of systems of equations, microeconomics, and panel data models. There is an emphasis on the practical application of common estimation techniques, with the specialist econometric software package STATA being used extensively. These skills are assessed in an applied project at the end of the course.

ECO-M002

20

ECONOMIC THEORY II

IT IS RECOMMENDED THAT STUDENTS TAKE ECO-M005 IN THE AUTUMN SEMESTER. This module provides training in modern macroeconomic theory. The main topics include macroeconomic growth, international convergence, fiscal policy, intergenerational transfers, investment theory, and open-economy applications. The discussion follows the dynamic general equilibrium framework, which represents the macroeconomy as an intertemporal model where firms, households, and the government are forward-looking agents pursuing their objectives over time. This module bridges the gap between traditional static models and modern dynamic theories by investigating the microeconomic foundations of aggegate relationships and the role of time in economic decisions. For each topic, the lectures present a benchmark model and provide a summary of the empirical evidence and/or other quantitative applications of the theory.

ECO-M006

20

FINANCE

This module looks at the operation of capital markets and their relationship to the financial structure of firms, from the point of view of an economist interested in the relationship of asset prices that emerge from financial markets and real levels of productive investment in the economy. The main question revolves around the following - do asset prices formed in financial markets provide accurate signals for resource allocation?

ECO-M015

20

FINANCIAL MARKETS

This module provides an introduction to the economics of financial markets. The first part of the module introduces some key concepts, such as: whether markets are efficient, (the Efficient Markets Hypothesis); and the various ways risk can be measured including VaR and variance of return. The module proceeds to cover the theory of consumer choice and then mean-variance portfolio theory; before the analysis of asset pricing models. Such models include: single and multi-factor models of asset returns, the Capital Asset Pricing Model (CAPM), and the Arbitrage Pricing Theory Model (APT). As well as focusing on the theory of these issues, students will learn how to conduct and evaluate statistical tests of these models. In the process students learn how economic theories are formulated and empirically tested. The module is suitable for those interested in a career within the financial sector or those interested in further study in financial economics.

ECO-M021

20

FINANCIAL MATHEMATICS

This is a technical finance module aimed at students wishing to pursue careers in the financial sector. The module is accredited by the Institute and Faculty of Actuaries (and together with ECO-M021 replaces the CT8 module). The focus will be on valuation and risk analysis of financial products and positions. The module will be highly analytical, with weekly exercises and assessment balancing mathematical problems and practical exercises involving Excel. Topics covered will include: continuous-time stochastic processes, stochastic models for security prices, bonds, term structure of interest rates, futures and forwards, options, hedging and credit risk.

ECO-M022

20

INTERNATIONAL FINANCE

This module comprises two sections. The first section examines finance from an investor's perspective, highlighting aspects of portfolio diversification and asset pricing. In the second section, we focus on corporate finance, examining corporate governance issues, how operations are funded (capital structure), and how firms return money to shareholders (payout policy). Particular attention is paid to international topics, including how to price assets across segmented markets, and the benefits, or otherwise, of international portfolio diversification.

ECO-M024

20

Disclaimer

Whilst the University will make every effort to offer the modules listed, changes may sometimes be made arising from the annual monitoring, review and update of modules and regular (five-yearly) review of course programmes. Where this activity leads to significant (but not minor) changes to programmes and their constituent modules, there will normally be prior consultation of students and others. It is also possible that the University may not be able to offer a module for reasons outside of its control, such as the illness of a member of staff or sabbatical leave. Where this is the case, the University will endeavour to inform students.

Entry Requirements

  • Degree Subject: Economics
  • Degree Classification: 2.1 or equivalent

Entry Requirement

Applicants should normally have a good first degree from a recognised higher education institution. The University will also take into account the employment experience of applicants where relevant.

It is normal for undergraduate students to apply for entry to postgraduate programmes in their final year of study. Applicants who have not yet been awarded a degree may be offered a place conditional on their attaining a particular class of degree.

Students for whom English is a Foreign language

We welcome applications from students whose first language is not English. To ensure such students benefit from postgraduate study, we require evidence of proficiency in English. Our usual entry requirements are as follows:

  • IELTS: 6.5 (minimum 6.0 in all components)
  • PTE (Pearson): 62 (minimum 55 in all components)

Test dates should be within two years of the course start date.

Other tests, including Cambridge English exams and the Trinity Integrated Skills in English are also accepted by the university. The full list of accepted tests can be found here: Accepted English Language Tests

INTO UEA run pre-sessional courses which can be taken prior to the start of your course. For further information and to see if you qualify please contact intopre-sessional@uea.ac.uk (INTO UEA Norwich)

Special Entry Requirements

September Pre-Sessional Courses

The School of Economics runs an intensive course in Mathematics and Statistics for Economists in the fortnight preceding the Masters programme in September. This course incorporates the techniques of calculus and matrix algebra and attendance is compulsory.  The course will run from 7th September 2015 - 18th September 2015.

Fees and Funding

Fees for the academic year 2015/16 are:

  • UK/EU Students: £7,215
  • International Students: £14,415

NB: Fees listed are inclusive of the compulsory 2-week pre-sessional Mathematics and Statistics for Economists course.

International applicants from outside the EU may need to pay a deposit.

Living Expenses

Approximately £7,500 living expenses will be needed to adequately support yourself.

Scholarships and Funding

A variety of Scholarships may be offered to UK/EU and International students. Scholarships are normally awarded to students on the basis of academic merit and are usually for the duration of the period of study. Please click here for more detailed information about funding for prospective Economics students.


Applications for Postgraduate Taught programmes at the University of East Anglia should be made directly to the University.

You can apply online, or by downloading the application form.

Further Information

To request further information & to be kept up to date with news & events please use our online enquiry form.

If you would like to discuss your individual circumstances prior to applying please do contact us:

Postgraduate Admissions Office
Tel: +44 (0)1603 591515
Email: admissions@uea.ac.uk

International candidates are also encouraged to access the International Students section of our website.