MSc Finance and Economics

“UEA certainly helped me in gaining a position as a financial derivatives specialist in an investment bank in New York and London. The content of certain modules that I studied gave me a good background into the financial products I deal with.”

In their words

Paul Martin, Finance and Economics Graduate

Article

Does someone’s age or country of origin have any bearing on their level of honesty?

Read It

Video

Find out more about UEA’s School of Economics

Watch It
This degree 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 study compulsory modules in economic theory and financial econometrics, as well as options from a wide range of modules including those in financial markets, international finance and mathematics, according to your individual career plan.

This MSc 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

Overview

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 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.

Course Modules

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-7003A

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-7023X

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-7009A

20

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-7000A, ECO-7009A and ECO-7002A. 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 & 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-7001B

20

ECONOMIC THEORY II

IN TAKING THIS MODULE YOU CANNOT TAKE ECO-M032 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 aggregate 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-7019B

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-7008A

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-7012A

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-7013B

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-7015B

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.

Further Reading

  • Course Director - Prof Peter Moffatt

    Read Prof Peter Moffatt's welcome to prospective students interested in studying Economics at UEA.

    Read it Course Director - Prof Peter Moffatt
  • Carbon labelling

    New research suggests that an initiative to show consumers which products are more environmentally friendly needs to be easy to understand to be effective.

    Read it Carbon labelling
  • World rankings

    The School of Economics at UEA is extremely proud to have been ranked 8th in the UK and 14th in Europe for economics/business in the 2015 Academic Ranking of World Universities (ARWU)

    Read it World rankings
  • Dolly Ogunrinde

    ECO’s Dolly Ogunrinde was voted ‘inspirational woman student of the year’ – read more…

    Read it Dolly Ogunrinde

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 12th September 2016 - 23rd September 2016.

Fees and Funding

Fees for the academic year 2016/17 are:

  • UK/EU Students: £7,365
  • International Students: £14,715

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 £9,135 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.

How to Apply

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.

    Next Steps

    Need to know more? Take a look at these pages to discover more about Postgraduate opportunities at UEA…

    We can’t wait to hear from you. Just pop any questions about this course into the form below and our enquiries team will answer as soon as they can.

    Admissions enquiries:
    admissions@uea.ac.uk or
    telephone +44 (0)1603 591515

    This field is mandatory.
    This field is mandatory.
    This field is mandatory.
    This field is mandatory.
    This field is mandatory.