Business Economics, Finance and Banking – (M.Sc.)

Contents

The programme consists of three sequential stages, each of one semester's duration (or one academic year for those taking the part time option).

Stage 1

From October to January (leading to PgC). This provides the building blocks of principles and theories needed for advanced studies in business economics, finance and banking. Emphasis in Stage 1 is divided between the academic rigour of the main theory courses and the development of more applied courses designed to develop relevant business skills.

Stage 2

From February to June (leading to PgD). This is designed to introduce more advanced aspects of business economics, finance and banking.

Stage 3

From June to September (leading to MSc). This consists of a 14,000 word dissertation.

Units

Stage 1

Business Economics
This unit concentrates on the economic approach to understanding businesses and their behaviour. In particular, you will be able to understand, apply and evaluate the relevance of various microeconomic theories of the firm to different types of business. Consideration will also be given to business competitiveness and how this is affected by technological innovation. Insights are also possible into the effect of the organisational architecture of firms and how the legal and regulatory environment can constrain firms' behaviour.

Quantitative Economics for Business
This unit should ensure that all students are familiar with the mathematical and statistical/econometric skills essential for the theoretical and applied work that will be found in other units and which is needed for the up-to-date treatment and analysis of current issues. The topics covered should also enhance the ability to read and understand articles in academic journals. Both theoretical and applied practical aspects are covered, with an emphasis on the use of econometric computer software.

Economics of Banking and Money
This unit is designed to show how economics can explain the existence, nature and operations of retail, wholesale and international banking. Public policy issues will also be considered. In addition to understanding the importance of banking to the national and international economy, students will also consider such aspects as managing market risks, trends in banking efficiency and the arguments for (prudential) regulation.

Research Methods
This unit introduces the concepts, methodologies and basic methods of undertaking and implementing research in economics and the social sciences.

Stage 2

Applied Corporate Finance
Whether from an investment bank perspective or from within the finance (treasury) department of a corporation, an assessment of the financial health of a company is paramount. This unit introduces and exposes you to corporate financial management, valuation and investment, with the emphasis being on corporate risk analysis. It is an applied course, equipping you with the tools necessary to critically analyse, evaluate and offer recommendations on firm specific financial and business data.

International Banking and Finance
This unit expands the subject matter of the unit 'Economics of Banking and Money' to the international level. Key subject matter covered includes:

* The theory of multinational banking.
* Risk management techniques and practices for banking.
* Domestic, European and international bank regulation.
* International co-operation and capital adequacy.
* Country and sovereign risk analysis.
* Banking and currency crises.
* International lending and debt rescheduling.
* Banks and economic development in developing countries.

Time Series Analysis and Financial Forecasting
This unit examines stationary and non-stationary time-series models, with particular application to financial data. Students will become familiar with the estimation, inference and forecasting of such models (ARMA/ARIMA and ARCH/GARCH) using appropriate computer software and real financial data.

Dissertation

In Stage 3 you will undertake an investigation of an appropriate, closely specified topic, using the skills you have learnt. You will have the opportunity to initiate, design and conduct a piece of research using original thought and independent judgement. You will have a supervisor from a member of the academic staff who will be able to advise you at regular meetings. Although preliminary work is undertaken earlier in the year, the dissertation is normally completed over the summer months, allowing a 12-month phase for the MSc from start to finish.

Part-time mode

The part-time mode for the course (available for home/EU students) has the same philosophy and sequence of subjects as the full-time mode, and students may alternate between the full and part-time modes if such a pattern is best suited to their circumstances.