PG BoS – Paper A2
03 August 2011
THE UNIVERSITY OF EDINBURGH
PROGRAMME SPECIFICATION FOR
M.Sc. in Financial Management1
1)
Awarding Institution: The University of Edinburgh
2)
Teaching Institution: The University of Edinburgh (Business School)
3)
Programme accredited by: n/a
4)
Final Award: MSc/PG Diploma in Financial Management
5)
Programme Title: MSc in Financial Management
6)
UCAS Code: n/a
Relevant QAA Subject Benchmarking Group(s): n/a
7)
Postholder with overall responsibility for QA: Dr John Glen
8)
Date of production/revision: 2011/2012
9)
External Summary
Financial Management is one of the key disciplines necessary for the successful management of business and
other types of organisation. Studying the theories underlying financial management allows students to
understand and explain the financial behaviours of organisations. Studying the practices of Financial
Management equips the student with the knowledge and understanding necessary to utilise these techniques
in practice.
Financial management is a fusion of two disciplines. These are accounting and corporate finance.
Accounting is concerned with the provision and interpretation of information for economic decision making.
Accounting is itself split between the management accounting function which provides for the information
needs of the organisation’s own management and the financial accounting function which provides
information for investors, regulatory bodies etc. The corporate finance function is concerned with managing
the finances of the organisation and its techniques are used in treasury management, asset allocation,
dividend policy, capital structuring and financial risk management.
The University of Edinburgh is one of the oldest established universities in Europe and has a worldwide
reputation for the quality of its graduates. Perhaps less well known is that Edinburgh is also one of Europe’s
most important financial and investment centres. The University of Edinburgh’s Business School is located
centrally in the University’s George Square Campus, minutes away from the financial centre of Edinburgh.
The Business School maintains close links with Edinburgh’s business community and there are many
opportunities to meet and to talk with business community leaders through our series of seminars and talks.
10)
Educational aims of programme:
The MSc in Financial Management is a comprehensive and rigorous treatment of key areas in Accounting
and Corporate Finance. It is designed for graduates interested in following a career in the Finance function of
1 The information contained in this Programme Specification should be used as a guide to the content of a degree programme and should not be
interpreted as a contract.
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03 August 2011
a company or other large organisation, in the accounting profession, in business analysis or in management
consultancy practice. The programme is designed to deliver financial management expertise with particular
emphasis in understanding the disciplines of accounting and corporate finance. Both theoretical foundations
and practice applications are provided in both of these areas. The programme is structured so that students
specialise through courses within choices including advanced corporate finance, advanced finance theory,
behavioural finance and market anomalies, derivatives, investment management, public sector financial
management.
The MSc in Financial Management also has an academic orientation, so apart from being suitable for those
who enter a business career, it is also a good preparation for further research at PhD level. It is both
academically rigorous and closely in line with professional practice.
11)
Programme outcomes:
11a) Knowledge and understanding
By the end of the programme, students will be able to:
 Know and apply theories of accounting and corporate finance
 Know and apply treasury management and corporate finance techniques
 Critically evaluate the financial control of an organisation
 Know apply and critically evaluate financial accounting techniques
 Know apply and critically evaluate management accounting techniques
11b) Graduate attributes: Skills and abilities in Research and Enquiry
By the end of the programme, students will be able to:
 Identify and define pertinent research questions,
 Critically review the relevant literature,
 Define an appropriate methodology
 Collect and critically analyse pertinent data
 Satisfactorily resolve the research question
11c) Graduate Attributes: Skills and abilities in Personal and Intellectual Autonomy
By the end of the programme, students will be able to:
 Solve research problems/questions
11d) Graduate Attributes: Skills and abilities in Communication
By the end of the programme, students will be able to:
 Communicate effectively both orally and in writing
11e) Graduate Attributes: Skills and abilities in Personal Effectiveness
By the end of the programme, students will be able to:
 Demonstrate skills in time management, where students have to meet multiple deadlines.
 Work effectively with others.
 Identify and evaluate social, cultural, global, ethical and environmental responsibilities and issues.
11f)
Technical/practical skills
These skills are covered under the headings above.
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Programme structure and features
Entry Requirements Minimum of a 2.1 Honours degree or equivalent. While students will be accepted from
any discipline preference will be given to those who have previously studied finance and accounting or
related subjects. While students need not have taken a numerate undergraduate degree the MSc in Financial
Management does require students to be competent with basic the basic use of mathematics and statistics.
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03 August 2011
Students should therefore be able to demonstrate sound performance at school level mathematics at the very
least.
Applicants for whom English is not their first language: a Test of English as a Foreign Language (TOEFL)
score of 600 (250+ computer based) or an International English Language Testing System (IELTS) score of
7 is preferred. Alternatively, a recent degree from a university in an English-speaking country may be
acceptable.
Degree Criteria MSc full-time (12 months), requires 120 credits from taught courses and 60 credits from the
research dissertation. Diploma is full time for 9 months, 120 credits from taught courses.
Programme structure
All students attend and complete the six compulsory core courses (90 credits), four in semester 1 and two in
semester 2. In addition, in semester 2, students take two elective courses totaling 30 credits.
Core Courses (all 15 credits)
Semester 1:
 Analysis of Corporate Financial Information
 Financial Markets and Investment
 Statistics for Finance
 Treasury Management and Corporate Finance
Semester 2:
 Accounting, Planning and Strategy
 Equity Valuation
Elective Courses (choose two - 30 credits)*
All 15 credits, all offered in Semester 2:
 Advanced Finance Theory
 Advanced Corporate Finance
 Cases in Finance
 Credit Risk Management
 Derivatives
 Economics for Postgraduates
 Investment Management
 Public Sector Financial Management
 Negotiation
* Not all elective courses may run in a particular year
Students will be informed that some of these courses require considerable quantitative ability and the
selection of electives must be approved by the student’s director of studies or the programme director.
Research Dissertation (60 credits)
The final compulsory 60 credits are made up of the Research Methods course and the Dissertation combined.
Each student conducts an individual research project on a subject chosen in consultation with an academic
advisor. MSc candidates write up their work as a dissertation (maximum 12,000 words), which is submitted
by the end of August.
Progression and Exit Awards
Students must achieve at least 80 credits at 50% or above and an overall 120 credits with a weighted average of at
least 50% to progress to the research dissertation MSc stage. Students who also achieve at least 50% in the
dissertation will be awarded the MSc in Financial Management. A Diploma in Financial Management will be
awarded if the student has 80 credits at 40% or above and an overall 120 credits with a weighted average of at
least 40%.
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03 August 2011
Assessment and Modes of Study
Courses employ a range of assessment types, for example team presentations, essays and formal degree
exams.
The learning outcomes of the programme are achieved by a mixture of formal lectures, technical workshops,
student presentations, guest speakers, research assignments, and the research dissertation. Delivery of the
taught element of the programme is primarily via lectures. These are supplemented by tutorials or technical
workshops and meetings with the students’ designated Director of Studies and the Programme Director. At
MSc level a substantial amount of independent study and pre-reading for lectures is also required of students.
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Other Items
In terms of pastoral care and student support, all students are assigned a Director of Studies. The DoS’s
function is to monitor your progress and provide advice on course choices. In addition, the DoS will be a
MSc student’s first line of pastoral support and advice for any other academic or personal issues which may
arise whilst on the MSc Programme.
Course teaching will be based in the University of Edinburgh Business School, 29 Buccleuch Place.
Computer labs are available in 29 Buccleuch Place and are equipped with a range of software to support
teaching and learning. MSc students are allowed 24-hour access to the labs and syndicate rooms in 29
Buccleuch Place.
Students have access to the University’s BizInfo website – an electronic resource that allows users to
download academic journal articles and certain economic data items and to undertake searches on a wide
variety of business related electronic services.
More detailed information can be obtained from the acting Programme Director Mr Tom Brown, University
of Edinburgh Business School, 29 Buccleuch Place, Edinburgh, EH8 9JS, Scotland, United Kingdom. He
can be contacted through email at: office+finman@business-school.ed.ac.uk (tbc).