MSc Economics of Money Banking and Capital Markets

Key details

MSC ECONOMICS OF MONEY BANKING AND CAPITAL MARKETS

Start Year

2020

Attendance

Full Time

Award

Degree of Master of Science

Duration (years)

Our MSc of Money Banking and Capital Markets is part of our Applied Training Programme, which is designed to provide key skills in economics. It’s ideal if you’re a graduate without an economics background, yet wish to develop the analytical skills of an economist. It’s also suitable if you’re an economics graduate and wish to develop specialist expertise in this area without committing to full research training.

You will take the compulsory modules economic concepts, banking econometrics, money and banking, and international finance. You will also be able to choose an optional module depending on your own interests. One of these options is Risk Management and Trading, which introduces techniques designed to measure market and credit risk, as well as providing you with insights into how trader behaviour contributes to bubbles and crashes.

Towards the end of your 12 months with us, you will write a dissertation on an area of the discipline that supports your own interests and future goals. Throughout the dissertation process, you will have support and supervision from a member of the School of Economics.

We also offer additional support to help you get the most from your Master’s. This includes an optional, intensive pre-sessional course in the fortnight before your programme begins in September. This pre-sessional course will be delivered through a combination of online materials to be processed in your time, as well as online interactive sessions with your teacher. This courseincludes an introduction to the specialist econometric software that you will use in your MSc programme. While not compulsory, we strongly recommend you take advantage of this fantastic opportunity.

About

Pave the way for a career in finance and acquire key skills in economics that are applicable to a wide range of financial careers – including those in the banking and capital market sectors.

On this course you will gain a strong foundation in economics while exploring the role of money, central banking and monetary policy, as well as gaining insights into the global financial system and challenges it faces.

In core modules you will cover essential economic concepts and econometrics as well as specialist topics such as Money and Banking. You will also have the opportunity to undertake one of our optional modules – including Multinational Firms or Risk Management, among others. You will finish your course by writing a dissertation, which will be supervised by a member of the School of Economics.

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.

Important Information

Whilst the University will make every effort to offer the courses listed, changes may sometimes be made arising from the regular review of course programmes. Where this activity leads to significant (but not minor) changes to programmes, there will normally be prior consultation of students and others. Changes may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will inform students.

Assessment for Year 1

Your modules will typically be assessed by a combination of coursework, online assessments and examinations (as applicable).

Your coursework will be in a variety of forms – including take-home assignments, seminar presentations, written tests, computer tests and your dissertation (which you'll submit at the end of August).

Throughout your course you will be given guidance on your work and constructive feedback to help you improve. You will receive written feedback for all pieces of coursework and further guidance will be available from your module’s organisers.

If you have additional needs due to disabilities such as sensory impairment or learning difficulties such as dyslexia please talk to our Student Support Service about how we can help.

Structure

The MSc of Money Banking and Capital Markets is a one-year course. In each semester you will take three modules, followed by writing your dissertation in the period between June and August.

You will take several compulsory modules including Economic Concepts and Money and Banking. Plus you will get the choice of a range of modules including Financial Markets, Risk Management and Trading and Multinational Firms.

Although you will write your dissertation between June and August, you will begin your dissertation module with a sequence of dissertation training lectures and workshops in spring. Here you will discover how to choose a topic, how to access data and search literature, how to reference, and how to analyse quantitative data.

You will be able to take advantage of further dissertation training workshops in late June and early July. These will be provided online with the objective of providing the types of econometric skills often required in dissertation research.

Teaching and Learning

UEA’s School of Economics is lively, friendly, research orientated and committed to excellence in teaching. We have an international reputation in many key areas, including theoretical and applied economics. Our research interests include behavioural and experimental economics, competition economics, environmental policy, conflict, contests and corporate behaviour, finance and financial markets.

Teaching on each of your modules will involve a “blended-learning” approach – a combination of online and face-to-face teaching.

In your econometric modules, you will learn how to conduct econometric analysis using specialist econometric software.

You will also become practiced in independent study, spending time working on coursework assignments and doing your own wider reading.

Assessment for Year 1

Your modules will typically be assessed by a combination of coursework, online assessments and examinations (as applicable).

If you have additional needs due to disabilities such as sensory impairment or learning difficulties such as dyslexia please talk to our Student Support Service about how we can help.

Compulsory Modules

BANKING ECONOMETRICS

Code ECO-7014A

Credits 20

Are you interested in working with data on bank customers? Would you like to be able to measure the impact of increased bank lending on house prices? If so, this module will introduce to you the econometric techniques that are required for this sort of analysis. The module is divided into two parts. The first part covers basic econometric techniques. You will be shown how to estimate a regression model in a variety of contexts, interpret your findings, and test the relationships between variables. As you progress, you will learn how to identify problems with the models (such as multicollinearity and heteroscedasticity) and how to address these problems. In lectures you will learn about the techniques; in seminars you will apply these techniques to a variety of economic problems and estimate models with real data. In the second part of the module, you will apply the techniques learnt in the first part to problems in banking economics. These applications include the the measurement of the impact of changes in bank lending on the wider economy. You will also learn a set of techniques known as binary data models, with the principal application being loan default by bank customers. Here, you will learn how to use an econometric model to obtain a formula for assessing the risk of loan applicants. Binary data models will also be used to consider choices made by borrowers over the type of loan taken. Throughout the module, seminars take place in computer labs and you will gain skills in analysing data using the widely used econometric computer package STATA. By the end of the module, you will be able to estimate appropriate regression models, identify problems which may arise and know how to address them. In particular you will know how to apply these methods in banking contexts. In addition, you will be able use STATA and you will be have acquired a range of skills that are currently highly marketable in the banking industry.

ECONOMIC CONCEPTS

Code ECO-7011A

Credits 20

Introducing micro and macro economic analysis, this module will familiarise you with a wide range of economic tools which can be applied to issues relating to your Applied Training Programme. It covers, in particular, consumer and producer choice, market equilibrium, market structure, externalities and public goods, the macroeconomics of inflation, unemployment and growth and macroeconomic policy.

INTERNATIONAL FINANCE

Code ECO-7015B

Credits 20

Are foreign exchange rates predictable? How can a firm hedge foreign exchange risk? What effect do interest rates have on currency values? Why are exchange rates so volatile? Are exchange rates based on macroeconomic fundamentals, or determined by speculative activity? These are the types of questions you will explore on this module. International Finance lies at the intersection of finance and macroeconomics. You’ll begin by learning the general finance tools of option pricing and risk management, before focusing on how to apply these tools to look, in particular, at exchange rates. This will involve understanding the structure of the foreign exchange market, examining theories of exchange rate determination, and looking at the foreign exchange futures and options markets. You’ll learn through a mixture of lectures, which have regular intervals for team or individual work, as well as seminars and self-study. Assessment comprises of technical and essay questions. By the end of the module you’ll be equipped for further study in financial economics or a career in the finance industry, particularly in roles related to foreign exchange.

MONEY AND BANKING

Code ECO-7018B

Credits 20

In this module you’ll focus on the microeconomics of money and banking, building on topics covered in autumn modules Banking Econometrics, Financial Markets, and Economic Concepts. Gaining an overview of the global financial system, with an emphasis on the UK and European experiences and markets, you’ll explore the structure and workings of the financial system and the organisation and regulation of the banking sector. There are three main components of the module: (i) Examine the role of financial markets, institutions and instruments in the economy, including the determination of interest rates and asset prices. (ii) Examine the development of banks, and bank-like institutions, including an analysis of the ‘Shadow Banking System’ and innovation in financial instruments. (iii) Finally, examine the role of the Central Bank in regulation, supervision and prudential management of the financial architecture. Other issues you’ll cover include: important models in financial development; issues in financial deregulation; modelling bank runs; exploring systemic risk, financial crisis and contagion; and aspects of financial market efficiency.

Optional A Modules

(20 credits)

FINANCE

Code ECO-7008A

Credits 20

Have you ever wondered why firms buy other firms, or why that trendy technology firm recently issued some shares? Why stock prices go up (and down)? What do we know about financial markets and, importantly, what don’t we understand? This module introduces a range of concepts related to the financial decisions firms have to make, and how these decisions lead to the existence of the stock markets that feature in the daily news. The early part of the module introduces the subject area by considering a range a fundamental concepts. From this foundation, you’ll learn how firms make financial decisions and how these decisions are interrelated. The later part of the module investigates how stock markets work, the risks involved, and the extent to which these risks can be avoided. On successful completion of the module, you’ll have gained the knowledge and skills for setting out on a career in finance, or for further study of corporate finance and financial markets. You’ll better understand financial news and be better-placed to discuss it, drawing on discussion from academic literature. You’ll be able to discuss and answer the sorts of questions prospective employers, friends and family might reasonably ask a finance postgraduate.

FINANCIAL MARKETS

Code ECO-7012A

Credits 20

This module explores modern portfolio theory and asset pricing, behavioural finance, and the efficient markets hypothesis. You’ll examine modern equilibrium asset pricing models, which in turn build upon the concepts of portfolio theory. You’ll be introduced to the Capital Asset Pricing Model (CAPM) and discuss approximations and extensions, including the Single Index model and various factor models such as the recent Fama-French (2015) 5-factor model. Key concepts will be illustrated through lectures and seminars, using numerous real-world examples in Excel.

Optional B Modules

(20 credits)

MULTINATIONAL FIRMS

Code ECO-7010B

Credits 20

This module is structured around three main questions: Why do multi-nationals exist? What are their beneficial effects? Why might they sometimes be a cause for concern? In answering these questions we confront a variety of theoretical and empirical methodologies (e.g. oligopoly theory, transactions costs, econometric methods, case studies in corporate strategy) and draw upon various branches of Economics (international, industrial, labour, financial and political economy).

FINANCIAL MATHEMATICS

Code ECO-7013B

Credits 20

This technical finance module is suited to students who wish to pursue a career in the financial sector. The focus is on valuation and risk analysis of financial products, and the module is highly analytical, with weekly exercise sessions in computer labs. Topics covered include: continuous-time stochastic processes, stochastic models for security prices, bonds, term structure of interest rates, futures and forwards, options, swaps, hedging and credit risk.

RISK MANAGEMENT AND TRADING

Code ECO-7017B

Credits 20

This first part of this module introduces concepts such as risk and volatility in financial markets. With the aid of the econometric computer package STATA, you’ll estimate and test theoretical models using real data. You’ll also learn how to calculate risk using daily and high-frequency data. The second part introduces algorithmic trading using Excel VBA, and will see you exploring the techniques used by traders to test the validity of their trading strategies.

ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS

Code ECO-7020B

Credits 20

Gain a thorough grounding in the key issues in environmental and resource economics. This module provides an overview of the economic and econometric principles that serve as pivotal tools in ensuring that natural resources are sustainably valued and managed in a global economic environment. The applied nature of the module is complemented by technical papers that form the subject of the discussions in seminar sessions. Open to postgraduate students enrolled on both ATP and APP programmes, this module will enhance the econometric principles taught in the Autumn Semester by applying analytical and statistical methods to the field of environmental economics so as to emphasise the empirical relevance of these theories.

Important Information

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. Where this activity leads to significant (but not minor) changes to programmes and their constituent modules, the University will endeavour to consult with 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. In some cases optional modules can have limited places available and so you may be asked to make additional module choices in the event you do not gain a place on your first choice. Where this is the case, the University will inform students.

Entry Requirements

Degree classification

Bachelors degree (minimum 2.2 or equivalent)

Degree subject

Any Subject

Additional entry requirements

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

If you do not meet the academic requirements for this course, you may be able to study one of the International Graduate Diploma programmes offered by our partner INTO UEA. These programmes guarantee progression to selected Master's degrees if students achieve the appropriate grade. For more details please click here: International Graduate Diploma in Economics.

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 5.5 in all components)
PTE (Pearson): 58 (minimum 42 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 also 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

As a result of the COVID-19 pandemic, we will be offering Pre-sessional courses online from June to September 2020. Further details can be found on our Online Pre-Sessional English webpage.

Intakes

This course is open to UK, EU and International applicants. The annual intake for this course is in September each year.

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.

MSc ECONOMICS OF MONEY BANKING AND CAPITAL MARKETS