Why study for an MRes in Finance?
The MRes is a one-year full-time Masters degree intended for students who are planning to become academic researchers or consultants, and who would benefit from structured preparation for their PhD studies, or who are required to complete a research training programme as part of their doctoral studies. The programme is suitable both for students who are hoping to continue their doctoral study at Lancaster and those who decide to complete their PhD at another university.
The MRes has two purposes:-
1. to provide intending PhD students with a better grounding in a specialist subject area
2. to provide intending PhD students with the qualitative and quantitative research skills they will need in order to undertake their research.
How does the MRes in Finance differ from the MSc Finance programme?
The taught element of the MRes is based on the MSc in Finance programme during Term 1. However, during Term 2 and alongside optional advanced modules, it also incorporates a specialised module on research skills, essential to successful PhD study in accounting and finance. Finally, during Term 3 (the final Summer term), MRes students are required to produce a dissertation that will typically take the form of a PhD research proposal, that enables a smooth transition from the MRes to doctoral study.
Michaelmas Term (October to December)
Four introductory assessed modules completed alongside MSc students:
Introduction to Quantitative Methods
Introduction to Finance
Introduction to Accounting
Introduction to Financial Markets
Four assessed modules in completed alongside MSc students:
Quantitative Methods for Finance
Foundations of Finance
Principles of Financial Reporting
Lent Term (January to March)
Four assessed modules consisting of:
Three optional modules
Two or three from:
Advanced Corporate Finance
Advanced Investment Management
Plus no more than one from:
Financial Statement Analysis
Financial Reporting for Complex Entities
Advanced Management Accounting
Fixed Income Markets
Professional Standards in Finance and Accounting Practice
Risk Management in Commercial Banking
Plus one compulsory module in Advanced Research Methods.
Summer (May to September)
Completion of MRes dissertation.
Submission of dissertation.
Provisional registration/commencement of PhD study (October), subject to achieving distinction (including 70% minimum at dissertation) for the MRes programme.
Graduation ceremony at Lancaster.
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We seek applicants with a proven academic record who need further skills to achieve their career goals. Applicants must demonstrate both academic ability and motivation. The application process is competitive and applicants are advised to apply early.
Applicants are expected to hold a good degree (equivalent to a UK 2:1) in Finance, Accounting, Economics, Business Studies, Mathematics or another quantitative subject, for example Engineering and Computing. Applications will also be considered from professionally qualified accountants with good examination records.
Offers of places
Applicants who are judged to have already fulfilled all requirements for entry to the course will be given an unconditional offer. Otherwise, applicants may be given an offer that is conditional upon our receipt of further evidence. If you receive an offer, you will be required to pay a deposit in order to secure your place on the course. If you fail to meet the conditions of your offer, this deposit will be refunded provided that you have made a reasonable attempt to meet any conditions.
* Applicants who have studied in China should have been or will be awarded a Bachelor's degree from a Project 211 university with a final overall mark of at least 80%-85%. In addition, we are looking for consistent performance across the complete degree.
English language requirements
Studying at Masters level demands a high level of fluency in written and spoken language, and excellent comprehension. For this reason, non-native speakers of English are normally asked to demonstrate their English language competence by taking one of the internationally recognised tests below.
Our minimum language requirements for postgraduate study at LUMS are:
IELTS 7.0, with at least 6.0 in each element
Pearson Academic (PTE) 70, with at least 55 in each element
Cambridge Certificate of Proficiency in English (CPE) grade C
ToEFL iBT 100 (with minimum 22 in each skill)
Please note: IELTS and Pearson scores are valid for two years from the test date. Also, note that ToEFL tests are no longer recognised by the UK Visas and Immigration Office for entry to pre-sessional English language courses.
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