MSc Banking and Finance Degree

Overview & facilities

An advanced course of study designed for students who want careers in the banking and financial services sector.  Delivered by academics who have published high quality known research in the area, the course covers financial regulation, risk management, corporate finance, portfolio management and quantitative finance, with an emphasis on issues of relevance to banking institutions and securities markets.

The year-long modules provide you with more time to assimilate subject matter, particularly in the modules with a large quantitative content, allowing you to undertake and in-depth study of well-defined problems in the money, banking and finance area. You will gain a rigorous and advanced intellectual training in banking, finance and economics that will provide you with all the advanced technical skills necessary for a career in these important and high paying sectors.

This course starts in October. Full-time students usually attend three days a week and part-time students one or two days a week.

Content & modules

Most assessments are individually based, although some may require group work. Seminars and workshops will provide an opportunity for peer review, learning, formative and self-assessment and for feedback.

Modules

• Year 1

  Banking Theory and Practice (30 Credits) - Compulsory

  This module aims to advance students understanding of modern financial systems and institutions, utilising economic theory and empirical evidence. A wide range of different topics is covered. The programme initially explores the complexity and integrated nature of international banking systems and regulation. The module emphasises on the relationship between financial systems and economic performance, particularly the mechanisms by which the former may help to improve resource allocation and economic growth and stabilize banking systems. It also examines the causes of weaknesses in financial systems, including the roots of financial crises. Information-related problems and the way these are addressed by different types of financial institutions and systems will be central to the analysis. The investigation of emerging issues and contemporary trends in domestic and international banking will also be an important part of the programme. It aims at developing students ability to apply economic/finance tools and techniques in a variety of decision-making contexts for banking.

  Business Economics (30 Credits) - Optional

  The general aim of this module is to develop students knowledge of applying the conceptual framework of economics to the solution of business decision problems. More specifically, this module aims to enable students: to explore the relevant economic reasoning to evaluate the structure, conduct and performance of business organisations to evaluate key issues about market structure and their implications for different business strategies to appreciate and apply the quantitative analytical tools of advanced economics to effectively evaluate the quality of managerial decisions

  Corporate Finance and Portfolio Management (30 Credits) - Compulsory

  The module aims to provide students with knowledge on functions of financial markets and financial intermediaries; knowledge of the theory and empirical applications of investment and portfolio management; ability to analyse the risk-return relationship in different asset pricing models; ability to evaluate the efficient market hypothesis and its implication for investment and portfolio management; skills to use statistical techniques to value different types of securities: bonds, stocks and derivatives. The module also aims to provide students with knowledge on the behaviour and decision-making of corporations regarding their capital budgeting and financing; knowledge of the fundamental theories of corporate financial management; and practical insight into the factors that affect company and security values. The module will provide students with skills needed for valuation of quoted and unquoted companies, and develop the ability of students to analyse broader financial issues and to apply finance theories to practical issues in international corporate finance setting.

  Development Economics (30 Credits) - Optional

  This module outlines the principal features of the economic policy of developing countries with particular reference to a number of SSA LDCs with a theoretical exploration of causes of poverty in these states. This is linked to discussion of AID, FDI, income inequality and the political economy of development. The focus on the formulation of development policy will be supported by the use of a number of live-case studies and include invited speakers from a number of these countries and International Development agencies. Students will be encouraged to based their end-of module project on issues relevant to these countries and specifically to policy issues in these economies

  Dissertation (60 Credits) - Compulsory

  This module aims to provide students with the opportunity to synthesise the advanced knowledge and skills gained during the programme to enable them to define and execute a piece of fairly original research in finance, banking or economics within given time, resource and report-length constraints 15,000 words .

  Econometric Modelling in Finance and Economics (30 Credits) - Compulsory

  Aims The aims of the module are to provide an advanced knowledge of econometric theory and practice as a basis for understanding its usefulness in finance, banking and economics and facilitating the use of econometric techniques in empirical work. The module is problem and data driven, giving students the skills to estimate and interpret econometric models, while having a strong grasp of the underlying theoretical concepts. The module will introduce the student to recent developments in the econometrics of time series and panel data analysis and enable the student to undertake applied econometric work successfully via hands-on training using econometrics computer software Excel, PcGive and Stata . The module will be very helpful in writing Master Dissertations a compulsory part of the MSc Programme at the Business School and develop interests for further research at MPhil/PhD level by engaging students in empirical research. studies.

  International Business and Globalisation (30 Credits) - Optional

  The aims of the module are to provide an appreciation of the economic theory relevant to both trade, international business, multinational enterprises MNEs , foreign direct investment FDI and globalisation; to introduce the student to all major strands of the debate about new trade theories, MNEs, and FDI; to acquire the necessary theoretical knowledge to evaluate and analyse policy issues relating to international business, trade and globalisation; and to develop the ability to undertake research in this area.

  International Finance and Risk Management (30 Credits) - Optional

  The aim of this module is to develop in students an advanced understanding of the theory and practice of international finance and risk management. Based on recent theoretical and empirical developments, the module rigorously examines the framework in which firms make their financing and risk management decisions with an emphasis on firms operating in an international environment. The module aims to provide students with an understanding of the organisation, workings and instruments of the foreign exchange, bond and offshore financial markets; an understanding of international finance theories and current empirical evidence; an understanding of the financial interest rate and foreign currency risks faced by firms and the methods used to identify, measure and manage these risks; an understanding of the applications of financial derivative instruments; and an understanding of the pricing mechanics of financial derivative instruments.

You will gain a rigorous and advanced intellectual training in banking, finance and economics that will provide you with all the advanced technical skills necessary for a career in these important and high-paying sectors.

The course consists of three core modules, one optional module and a dissertation. Year long modules provide you with more time to assimilate the subject matter in each module.

In the first term we will provide you with dissertation workshops on a range of research related topics. In the second term, the Learning Resources Centre will present workshops on collecting data from Datastream, Bankscope and Fame.

You will be required to submit a dissertation proposal at the beginning of the second term. With guidance from your supervisor you will be required to prepare a detailed review of the literature, proposed methodology and sourcing of data.

Entry & applying

Normally a second class honours degree or above from a UK university in the field of finance or banking, economics, accountancy or business studies with an applied quantitative element of statistics, mathematics, engineering, physics, computing or science, or the equivalent of the above from a recognised overseas university. If English is not your first language you will need an IELTS score of 6.5 or TOEFL 575 paper based 233 computer based .

Standard entry requirements

For the MSc Banking and Finance we normally require a second class honours degree or above from a UK university in the field of finance or banking, economics, accountancy or business studies with an applied quantitative element of statistics, mathematics, engineering, physics, computing or science.

International entry requirements

We accept the equivalent of the above from a recognised overseas university, to find out more about the requirements from your country, see further information under support in your country.

English language requirements

You must have competence in English language and we normally require Grade C GCSE or an equivalent qualification. The most common English Language requirements for international students are IELTS 6.5 (with minimum 6.0 in all four components) or TOEFL paper based 575 (no less than 4.5 in test of written English) or TOEFL internet based 90 (with no less than 19 in each component) Middlesex also offers an Intensive Academic English course (Pre-Sessional) that ranges from 5-17 weeks, depending on your level of English. Successful completion of this course would meet English language entry requirements. For more information on applying for the pre-sessional please email english@mdx.ac.uk. For details of other equivalent English language requirements that Middlesex accepts see international entry requirements.

How to Apply

Apply now

Applications for postgraduate study should be made directly to the university. The quickest way to apply is by making an online application, once you have created your account and completed your application, you will be able to track the progress of your application online. Alternatively, you can fill in an application form and return it to the appropriate admissions office. UK and EU students should apply directly to the London office. Non-EU international students can apply to our international admissions office in London, or use our network of regional offices across the world to assist you with your application.

Fees & funding

The tuition fee for MSc Banking and Finance for the academic year 2012/13 is as follows:

UK/EU Students

Full-time students: £9,000
Part-time students: £75 per taught credit

Find out about our flexible payment plans for UK/EU students, and how they can help you spread the cost of your course.

International Students

Full-time students: £11,700

Careers & placements

The MSc Banking and Finance is for those who would like to work in the banking and financial services sector to develop their analytical skills, acquire a body of knowledge, and be exposed to the frontiers of the subject.

Your potential careers could include investment banking, corporate banking, financial regulation, investment management, hedge fund management, the equity, bond and foreign currency markets, corporate treasury management, derivatives and risk management.

What can you do with an economics degree?
Our MSc Banking and Finance graduates have been highly successful in obtaining well-paid employment and have obtained positions in the financial, commercial and public sectors working in banking, insurance, investment, oil and pharmaceutical companies and government departments such as the Home Office.

There are three main types of economists: business, government and academic - and each type applies the economic approach to decision-making in a different setting.

Where do our graduates go?
Based on the data from respondents of the 2009-10 Destination of Leavers in Higher Education survey, six months after graduating:

• 74% of Middlesex MSc Banking and Finance graduates were in employment or further study 
• 26% were unemployed or doing something else, such as travelling

Middlesex graduates from this group have been successful at gaining employment in the following roles:

Manager, Surveyor, Senior Accountant, Sales, US Markets investment officer, CRM Coordinator,
Housing Officer

for companies such as:

Clearstream Banking, Raj Film, CB Richards, Local Council, Bonanza Portfolio, Work Work, Central Bank of Gambia, Primark. 

Salary
The average starting salary for Economics graduates ranges from £25,000  - £35,000.

Graduate Roles
Below are just a few career opportunities that would be open to you as a graduate:

Business Economists - A business economist identifies areas that can be profitable to an organisation, to develop them further and to identify problem areas and transform them into opportunities and challenges that can benefit the company. They work in manufacturing, mining, transportation, communications, banking, insurance, retailing, investment, and other types of organisations.

Government Economists - A government economist works for National and Local governments. They serve in a wide variety of positions involving analysis and policy making working in areas like macroeconomic modelling, competition policy, international financial issues, labour market trends, taxation, housing benefits, local government finance, public health and criminal justice, to name but a few. 

Academic Economists - Some economics graduates move on to postgraduate studies in economics and go on to become academic economists working within higher education institutes such as Middlesex University.

Actuary - Actuaries are experts in evaluating the likelihood of future events, designing creative ways to reduce the likelihood of undesirable events and decreasing the impact of undesirable events that do occur. They solve problems in the business world by analysing and managing risk.
 
Financial Analyst - A financial analyst writes reports on the companies they cover trying to describe the businesses and their opinion of the company's investment potential, usually from a fundamental analysis standpoint. They also summarise their report with a rating, such as "buy", "sell", "market perform", "overweight", "hold", etc.

Trade and Financial Officer - Trade and Finance Officers are involved in the business development of trade finance between an organisation and their clients. They maintain client and internal business relationships and ensure client and business needs are fulfilled in an effective and timely manner. A comprehensive knowledge of Risk and Credit skills are highly desirable with this area.

Accounting Analyst - An Accounting Analyst is responsible for client estimates and client reporting, preparation of year-end audited financial statements and tax returns and also reviews tax estimates. The role may also include control and maintenance of assigned ledger accounts, including account reconciliations and ledger entries. Additionally, resolving technical issues, providing both internal and cross functional guidance and expertise.