UNIVERSITY OF BRADFORD
School of Social and International Studies
Division of Economics
MSc in Financial Economics
Awarding and teaching
institution:
University of Bradford
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 :
March 2012
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 http://www.bradford.ac.uk
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,
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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
A1
Develop your skills to enable you evaluate economic theory and policy.
A2
Develop your learning and communication skills.
A3
Develop your personal and transferable skills in research and planning
Postgraduate Diploma
A4
Equip you with the knowledge and skills to critically analyse institutions, policy
and practice.
A5
Equip you with a critical understanding of applied economics to finance.
MSc
A6
Critically analyse current and emerging research and practice.
A7
Critically appraise the nature of evidence in economics and finance.
A8
Formulate 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.
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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.
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Postgraduate Certificate
Module
Code
Module Title
Type
Credits
Level Study period
SE-7001D Macroeconomic Theory and Policy
CORE
20
M
S1
SE-7002D Microeconomic Theory and Policy
CORE
20
M
S1
SE-7003D Econometrics and Applied
CORE
20
M
S1
Type
Credits
SE-7004D Financial Markets and Banking
CORE
20
M
S2
SE-7005D Financial Economics
SD-7006D Public Policy Analysis and
Management
SD-7008D International Economics
CORE
20
M
S2
OPTION
20
M
S2
OPTION
20
M
S2
SD-7013D Project Appraisal and Economic
OPTION
20
M
S2
Type
Credits
CORE
60
Research
Postgraduate Diploma
Module
Code
Module Title
Level Study period
Analysis
Masters
Module
Code
Module Title
SE-7006Z Dissertation in Financial Economics
Level Study period
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.
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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:
http://www.brad.ac.uk/academic-quality-unit/ordinances-and-regulations-for-taughtcourses/
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
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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 parttime 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 www.careers.brad.ac.uk.
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
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to study, personal care or other issues. For more information contact the Disability
Service by phoning: 01274 233739 or via email: disabilities@bradford.ac.uk
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
www.bradford.ac.uk/ecoversity/
Further Information:
For further information, please check the University prospectus or contact
Admissions.
Postgraduate Admissions Office
School of Social and International Studies
Pemberton Building
The University of Bradford
Richmond Road
Bradford, BD7 1DP
UK
+44 (0)1274 233081
ssis-pg-admissions@bradford.ac.uk
http://www.brad.ac.uk/economics
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
S1
Module
Learning
Outcome
Teaching
Assessment
Macroeconomic
Theory and Policy
LO 1, 2, 3, 4
Lectures/seminars
40% Essay
60% Examination
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S1
S1
Microeconomic
Theory and Policy
LO 1, 2, 3, 4
Econometrics and
Applied Research
LO 1, 2, 3, 4
Lectures/seminars
30% Presentation
70% Examination
Lectures/seminars/work 10% Test
shops
80% Project
10% Report
S2
S2
Financial Markets and LO 4, 5, 6, 7, 8
Banking
Lectures/seminars
Financial Economics LO 4, 5, 6, 7, 8
Lectures/seminars
40% Essay
60% Examination
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 LO 4, 5, 6, 7, 8
Economic Analysis
Lectures/workshops/se 65% Essay
minars
35% Simulation
exercise
S2
Public Policy Analysis LO 4, 5, 6, 7, 8
and Management
Lectures/seminars
DISS
Dissertation
LO 4, 7, 9, 10,
11, 12
80% Essay
20% Presentation
Individual supervision
15% Research
proposal (up to
2,500 words)
85% Dissertation
(up to 13,000
words)
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Appendix 2: Structure for MSc Financial Economics, part-time route
20
Microeconomic
Theory and
Policy
20
Semester 2
Total credit
20
Macroeconomic
Theory and
Policy
Credits
20
Semester 2
Financial
Economics
20
Option (from
MSc Financial
Economics
Programme
list)
20
60
Postgraduate Diploma Stage (120 credits)
Econometrics
and Applied
Research
Financial
Markets and
Banking
Semester 1
Credits
Postgraduate Certificate Stage (60 credits)
Semester 1
Year 2
60
Summer
Dissertation
Total
cumulative
credit
60
MSc Stage (180 credits)
Year 1
180
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