UNIVERSITY OF BRADFORD
School of Social and International Studies
Division of Economics
MSc in Financial Economics
Final award: / Postgraduate Certificate in Economics
Postgraduate Diploma in Financial Economics
MSc in Financial Economics
[Framework for Higher Education Qualifications level M]
Programme title: / PG Cert in Economics / PG Dip / MSc in Financial Economics
Duration: / 1 year full-time; 2 years part-time
Date produced: / March 2012
Last updated : / March2012
Introduction
The Division of Economics provides a range of courses at undergraduate and postgraduate levels, the latter both taught and by research. Building on over 40 years of experience of delivering undergraduate and postgraduate training in economics, the Division is part of the School of Social and International Studies (SSIS). Teaching and learning activities are delivered by research active staff whose areas of expertise in applied microeconomics, international economics and monetary economics are reflected in the range and content of modules available to students at Masters level. In line with the University’s mission of ‘Making Knowledge Work’ the Division’s courses at all levels have a strong applied, real-world focus and seek to provide students with transferable as well as subject-specific skills. For more information see
The MSc in Financial Economics equips students with the tools of economic reasoning, research and statistical analysis to investigate problems in financial economics.The programme provides students with an understanding of the network of financial institutions, their methods of operation, the imposition of regulations and how financial actions contribute to macroeconomic performance. Students will have developed a high standard of critical, quantitative and communication skills that are highly valued by employers, alongside the specific abilities to apply advanced economic analysis to the operation of financial markets and institutions.
The first semester will provide you with a grounding in advanced economic principles and tools of analysis. In semester two you will study modules in financial and applied areas. The final stage is the completion of a dissertation focusing on a topic you have chosen in agreement with your supervisor within financial economics and which draws on your previous taught modules. This is a major piece of independent study, however it is supported by an allocated specialist supervisor and preceded by study and research skills workshops for all students.
At the University of Bradford, we emphasise the applied aspects of study to understand the world around us, with a focus on the impact of economic forces and the role of policy in shaping change. Those who graduate from the programme may go on to work in finance, in policy positions relating to the financial sector, or in more general economic policy or analysis roles in many types of organisation.
A. Programme Aims
The programme is intended to:
Postgraduate Certificate
A1Develop your skills to enable you evaluate economic theory and policy.
A2Develop your learning and communication skills.
A3Develop your personal and transferable skills in research and planning
Postgraduate Diploma
A4Equip you with the knowledge and skills to critically analyse institutions, policy and practice.
A5Equip you with a critical understanding of applied economics to finance.
MSc
A6Critically analyse current and emerging research and practice.
A7Critically appraise the nature of evidence in economics and finance.
A8Formulate and independently investigate a complex research question, and communicate your findings in a suitable way at an advanced level.
B. Programme Learning Outcomes
When you have completed the programme you will be able to:
Postgraduate Certificate
LO1.Critically evaluate advanced theoretical concepts in economics.
LO2.Critically appraise policy in relation to economics.
LO3.Evaluate complex information on a range of issues related to economics.
LO4.Use initiative in self-directed learning and construct written argument.
Postgraduate Diploma
LO5.Critically reflect on advanced theoretical concepts in economic policy or financial economics.
LO6.Critically evaluate practice or policy-based interventions relating to economic policy or financial economics.
LO7.Synthesise complex information gathered from a range of sources.
LO8.Apply originality and creative problem solving in dealing with complex issues.
MSc
LO9.Demonstrate a detailed and critical knowledge of current research and scholarship in a specialist area of financial economics.
LO10.Identify appropriate research designs and methods for specific purposes and applications.
LO11.Identify gaps and inconsistencies in the evidence that guides policy and practice.
LO12.Apply critical reasoning to the existing evidence.
C. The Curriculum
The curriculum is designed in three distinct stages, each comprising 60 credits. The first semester provides a grounding in higher-level economics and a sound base from which to progress to the later stages of the programme. Students will cover advance economic analysis in the core areas of micro- and macroeconomics, alongside study of appropriate analytical skills to prepare for semester 2 and the dissertation. Completion of these modules will complete the Postgraduate Certificate stage of the course.
The second semester covers advanced financial economics and the application of economic analysis to financial markets and institutions. Students are also able to choose an option that fits with their particular interests and career aspirations. Within these options students will have the opportunity to apply some of the quantitative and theoretical tools introduced in semester 1. Completion of the taught modules at this stage of the programme will result in the award of a Postgraduate Diploma.
The final element is the 60-credit dissertation, completed between May and September with support from an allocated supervisor from among the Economics Division academic staff. The dissertation draws on the concepts, tools and methods introduced in the taught modules in semester 1 and 2, and is expected to include substantial quantitative analysis. Students will develop and select a research question under the guidance of departmental staff.
A part-time route over two years’ of study is also offered. In the first year students study Microeconomic Theory and Policy and Econometrics and Applied Research in semester 1 and in Semester 2 Financial Markets and Banking, which builds on these modules. In year 2, students study Macroeconomic Theory and Policy in semester 1. In semester 2 Financial Economics and an option are taken and students complete the dissertation stage. The part-time route structure is outlined in Appendix 2 at the end of this document.
Postgraduate Certificate
Module Code / Module Title / Type / Credits / Level / Study periodSE-7001D / Macroeconomic Theory and Policy / CORE / 20 / M / S1
SE-7002D / Microeconomic Theory and Policy / CORE / 20 / M / S1
SE-7003D / Econometrics and Applied Research / CORE / 20 / M / S1
Postgraduate Diploma
Module Code / Module Title / Type / Credits / Level / Study periodSE-7004D / Financial Markets and Banking / CORE / 20 / M / S2
SE-7005D / Financial Economics / CORE / 20 / M / S2
SD-7006D / Public Policy Analysis and Management / OPTION / 20 / M / S2
SD-7008D / International Economics / OPTION / 20 / M / S2
SD-7013D / Project Appraisal and Economic Analysis / OPTION / 20 / M / S2
Masters
Module Code / Module Title / Type / Credits / Level / Study periodSE-7006Z / Dissertation in Financial Economics / CORE / 60 / M / DISS
The curriculum may change, subject to the University's course approval, monitoring and review procedures.
D. Teaching, Learning and Assessment Strategies
Teaching and learning activities are focused on lectures and group-based session for taught course units. During the dissertation writing stage (following semester 2), individual supervisors provide specialist guidance. Hence, as the course progresses, the main learning method gradually becomes more individualised and student-centred. Group-based seminars will employ a variety of formats, providing students with the opportunity to experience hands-on computing, case study or data analysis, group work, class discussion and debate and presentations.The precise range for any particular student will depend on the precise range of options chosen.
To ensure the systematic development of knowledge of key subjects, course units are assessed by a variety of assessments in addition to formal examinations, including essays and projects. In seminars and workshops, students will engage in group work and presentations and will receive formative feedback from lecturers and peer-support from fellow students. During the dissertation phase, students undertake independent research with supervisor support which include a number of one-to-one meetings to discuss progress and research plans.
E. Assessment Regulations
This Programme conforms to the standard University Assessment Regulations for Postgraduate Programmes full text of which are available at the following link:
F. Admission Requirements
The University welcomes applications for this course from students with a second class UK bachelors degree with honours (or overseas equivalent from a recognised higher education institution) which includes study of economics to intermediate level or from those who hold a recognised pre-Masters qualification with economics content and who can demonstrate proficiency in the core principles of economics. Applicants who are non-native speaker will also need to present an English language qualification (IELTS 6.0 minimum with no less than 5.5 in each element).
The University of Bradford has always welcomed applications from disabled students, and these will be considered on the same academic grounds as are applied to all applicants. If you have some form of disability you may wish to contact the programme leader before you apply.
G. Learning Resources
The JB Priestley Library on the city campus and the specialist library in the School of Management provide a wide range of printed and electronic resources to support your studies. We offer quiet study space if you want to work on your own, and group study areas for the times when you need to discuss work with fellow students. Subject librarians for each School provide training sessions and individual guidance in finding the information you need for your assignment, and will help you organise your references properly.
Student PC clusters can be found in all our libraries and elsewhere on the campus. Many of these are open 24/7. You can also use the University's wireless network to access the internet from your own laptop. Most of our online journals are available on the internet (both on and off campus), and you can also access your University email account, personal information and course-related materials this way.
Staff are on hand during the daytime to help you if you get stuck, and there is a 24/7 IT helpline available.
Significant electronic resources are available including journal access to international journals and access to specialist economic and financial data services through the University’s electronic subscriptions system, in order to support your research throughout the course.
H. Student Support and Guidance
Course Team
Support for you personally and in your course of study, will be provided both by the University and the Course Team. You will be allocated a personal tutor who is someone with whom you will be able to talk about any academic or personal concerns. The School will ensure that there is someone available with whom you feel comfortable to help and support you. You will be provided with a comprehensive series of handbooks that you can consult on a range of learning issues and your course tutors will be available to consult on subject specific queries.
Students’ Union
We value the feedback provided by students and collaborate with the Students’ Union, through a system of course representatives and formal staff student liaison committees, so that any issues you wish to raise are addressed rapidly.
The Students’ Union and the University of Bradford work in partnership to provide confidential counselling and welfare services where you can get help with any aspect of your personal or academic life. Student Financial and Information Services (part of the Hub) will provide you with information about a diverse range of issues such as council tax, personal safety and tourist information. International Students can access a range of additional advice and support services through the Student’s Union.
Careers and Employability
The University is committed to helping students develop and enhance employability and this is an integral part of many programmes. Specialist support is available throughout the course from Career Development Services including help to find part-time work while studying, placements, vacation work and graduate vacancies. Students are encouraged to access this support at an early stage and to use the extensive resources on the web site
Discussing options with specialist advisers helps to clarify plans through exploring options and refining skills of job-hunting. In most of programmes there is direct input by Career Development Advisers into the curriculum or through specially arranged workshops.
The specific provision on this programme is through a series of sessions with invited speakers on different areas of professional practice, research and policy in finance and economics throughout the year, as well as sessions with employers from both finance and also government discussing the activities of financial and economic analysts in a range of professional roles. The Division benefits from good relations with government employers of economists, as well as its location close to the major financial centres in Manchester and Leeds, each of which has employment in financial services industries approaching a quarter of a million workers.
Learner Development Unit
The Learner Development Unit provides support in all aspects of academic, maths, numeracy and interpersonal skills. A programme of interactive workshops is delivered during both semesters which complements the individual support available from Advisers and the wide range of interactive online materials.
Disability
Disabled students will find a supportive environment at Bradford where we are committed to ensuring that all aspects of student life are accessible to everyone. The Disability Service can help by providing equipment and advice to help you get the most out of your time at Bradford and is a place where you can discuss any concerns you may have about adjustments that you may need, whether these relate to study, personal care or other issues. For more information contact the Disability Service by phoning: 01274 233739 or via email:
I. University policies and initiatives
Ecoversity
Ecoversity is a strategic project of the University which aims to embed the principles of sustainable development into our decision-making, learning and teaching, research activities campus operations and lives of our staff and students. We do not claim to be a beacon for sustainable development but we aspire to become a leading University in this area. The facilities we create for teaching and learning, including teaching spaces, laboratories, IT labs and social spaces, will increasingly reflect our commitments to sustainable development. Staff and student participation in this initiative is crucial to its success and its inclusion in the programme specification is a clear signal that it is at the forefront of our thinking in programme development, delivery, monitoring and review. For more details see
Further Information:
For further information, please check the University prospectus or contact Admissions.
Postgraduate Admissions OfficeSchool of Social and International Studies
Pemberton Building
The University of Bradford
Richmond Road
Bradford, BD7 1DP
UK
+44 (0)1274 233081
The contents of this programme specification may change, subject to the University's regulations and course approval, monitoring and review procedures.
Appendix 1: Curriculum, Teaching and Assessment Map
Module / Learning Outcome / Teaching / AssessmentS1 / Macroeconomic Theory and Policy / LO 1, 2, 3, 4 / Lectures/seminars / 40% Essay
60% Examination
S1 / Microeconomic Theory and Policy / LO 1, 2, 3, 4 / Lectures/seminars / 30% Presentation
70% Examination
S1 / Econometrics and Applied Research / LO 1, 2, 3, 4 / Lectures/seminars/workshops / 10% Test
80% Project
10% Report
S2 / Financial Markets and Banking / LO 4, 5, 6, 7, 8 / Lectures/seminars / 40% Essay
60% Examination
S2 / Financial Economics / LO 4, 5, 6, 7, 8 / Lectures/seminars / 30% Presentation
70% Examination
Indicative Options:
S2 / International Economics / LO 4, 5, 6, 7, 8 / Lectures/seminars / 50% Coursework
50% Examination
S2 / Project Appraisal and Economic Analysis / LO 4, 5, 6, 7, 8 / Lectures/workshops/seminars / 65% Essay
35% Simulation exercise
S2 / Public Policy Analysis and Management / LO 4, 5, 6, 7, 8 / Lectures/seminars / 80% Essay
20% Presentation
DISS / Dissertation / LO 4, 7, 9, 10, 11, 12 / Individual supervision / 15% Research proposal (up to 2,500 words)
85% Dissertation (up to 13,000 words)
Appendix 2: Structure for MSc Financial Economics, part-time route
Year 1 / Year 2Semester 1 / Credits / Semester 1 / Credits
Econometrics and Applied Research / 20 / Postgraduate Certificate Stage (60 credits) / Macroeconomic Theory and Policy / 20 / Postgraduate Diploma Stage (120 credits)
Microeconomic Theory and Policy / 20
Semester 2 / Semester 2
Financial Markets and Banking / 20 / Financial Economics / 20
Option (from MSc Financial Economics Programme list) / 20
Total credit / 60 / 60
Summer / MSc Stage (180 credits)
Dissertation / 60
Total cumulative credit / 180
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