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MScEconomics & Finance

Why this course?

Understanding the interaction between the disciplines of Economics & Finance is now critical to understanding the world we live in. Training in these subjects is essential for those hoping to work in the public or private sector as economists, analysts or consultants.

The MSc in Economics & Finance was launched in 2014/15. The aim of the programme is to produce highly skilled professionals who can analyse, understand and explain the complex economic and financial issues that arise in a globalised world.

The programme is jointly offered by the Department of Economics and the Department of Accounting & Finance ensuring that you’ll be taught by experts in both areas.

You’ll study

The programme is centred on a suite of core classes designed to develop and enhance your knowledge and skills in a range of economics, finance, analysis and quantitative methods subject areas.

You’ll be able to pursue your own individual interests and further develop specialised skills relevant to your chosen career paths through a wide range of elective classes.

Core classes

Core classes are as follows:

  • Foundations of Microeconomics
  • Macroeconomics for the Business Environment
  • Analysis of Economic Data
  • Further topics in Microeconomics
  • Principles of Finance
  • Accounting & Financial Analysis
  • Macro for the Global Business Environment
  • Quantitative Methods

Plus either:

  • Advanced Corporate Finance & Applications

or

  • Derivatives & Treasury Management

Elective classes

You’ll be able to choose from a wide range of classes from across the Departments of Economics and Accounting & Finance.

Dissertation

You’ll have the opportunity to undertake a challenging problem-focused or policy-relevant analysis and project. This lets you apply the skills and learning you've developed in the course of your taught classes.

Preparation for this component will include participation in the Economics and Finance forum. This includes opportunities to benefit from the experience of economics and finance professionals in business, academia and government.

Facilities

Strathclyde’s award-winning Business School is one of the largest institutions of its kind in Europe. We've around 200 academic staff and more than 3000 full-time students.

The departments and specialist units work together to provide a dynamic, fully-rounded and varied programme of specialist and cross-disciplinary postgraduate courses.

Course content

Compulsory classes

Foundations of Microeconomics

This is designed to be accessible if you have no prior expertise in economics.

It is focused on economic literacy with a clear emphasis on the application to contemporary issues in the real world.  Knowledge of these topics provides the foundation for further study in a broad range of topics in Economics.

Macroeconomics for the Business Environment
By the end of the class you'll be able to assess the information content in the behaviour of key macroeconomic variables; discuss their implications for business managers. You'll understand the objectives and challenges in the design and operation of macroeconomic policies and explain how policy impacts on the macroeconomic environment.
Analysis of Economic Data

This module introduces some of the statistical methods commonly used in applied economics with an emphasis on regression analysis.  

You'll focus on understanding and application but also consider some of the more formal concepts required to engage in econometric work with confidence.

Further topics in Microeconomics
You'll build on knowledge acquired in Foundation of Microeconomics to explore various topics in Microeconomics.
In particular we will explore situations in which markets do not work properly and discuss justifications for public intervention. As with the foundation course, emphasis will be put on how the ideas can be applied to the real world.  
Particular relevance will be given to topics related to imperfections in financial markets and in public utilities, and to the regulation of such markets.
Principles of Finance

This class provides an introduction to the basic principles of financial decision taking and the theory of finance. It will develop the basic principles of valuation, the nature of risk and uncertainty, the relationship between risk and returns. While the analysis will be developed in the context of corporate finance, looking at companies’ decisions on the investments in assets and how these investments will be funded and the nature of the markets in which it will also consider the principles underlying financial reasoning that can be applied on a more general basis.

Find out more in the 2015/16 class outline for Principles of Finance.

Principles of Finance
This class provides an introduction to the basic principles of financial decision taking and the theory of finance. It will develop the basic principles of valuation, the nature of risk and uncertainty, the relationship between risk and returns. While the analysis will be developed in the context of corporate finance, looking at companies’ decisions in relation to investments in assets and how these assets will be funded. It considers the principles underlying financial reasoning that can be applied on a more general basis.
Accounting & Financial Analysis

The aim of this class is to provide you with an understanding of the basic principles of financial accounting and financial analysis, the ability to interpret financial statements and their use in assessing the financial position and performance of companies.

This class provides an introduction to the principles of accounting and the analysis of financial statements. It will enable you to prepare financial statements in accordance with International Financial Reporting Standards (IFRS) and to interpret and analyse these statements. Particular emphasis is placed on the accounting concepts and information employed in financial analysis and decision taking.

You'll develop the ability to prepare and interpret financial statements and construct cash forecasts. In addition, you'll develop an understanding of the demand and supply for accounting information; an appreciation of the role of financial analysis and analysts; and an awareness of the statistical characteristics of accounting numbers.

Find out more in the 2015/16 class outline of Accounting & Financial Analysis.

Macroeconomics for the Global Business Environment

By the end of the class you'll be able to assess the information content in the behaviour of key macroeconomic variables.

You'll be able to discuss their implications for business managers; understand the objectives and challenges in the design and operation of macroeconomic policies as well as explain how policy impacts on the macroeconomic environment.

Quantitative Methods

This module builds on Analysis of Economic Data.

You'll cover the following estimation techniques:

  • Univariate Time Series Analysis
  • Cointegration
  • Instrumental Variables
  • Panel Data Models
  • Limited Dependent Variable Models

Each topic will be introduced in lectures and then illustrated via practical application in lab sessions.

Optional classes

Choose one from this list. You'll also be able to choose from a wide range of classes from across the Department of Economics and the Department of Accounting & Finance.

Advanced Corporate Finance & Applications

The aim of this class is to discuss the different ways in which firms can raise funds, internally and externally, and the role of capital markets in determining the terms on which funding will be available. The costs and risks of difference sources of financing and the role of taxation will also be covered.

It will also provide you with a working knowledge of the leasing decision of a firm, of corporate financial planning, the management of working capital, the rationale for mergers and acquisitions, the implications of corporate governance, and issues related to corporate financial restructuring.

The class will cover the capital structure of companies, and their ability to raise finance through initial and seasoned equity capital issues. It will also examine mergers and acquisitions as major investments undertaken by companies, the firm’s working capital policy, and their payout policy in the form of dividends and stock market buybacks. It will be conducted through a series of lectures and tutorials.

Find out more in the 2015/16 class outline for Advanced Corporate Finance & Applications.

Derivatives & Treasury Management

The aim of this class are to provide a strong grounding in derivatives that may be used to manage the financial risks faced by individuals, financial institutions and business corporations. It places an emphasis on corporate treasury management and the role of derivatives in managing treasury risk.

Find out more in the 2015/16 class outline for Derivatives & Treasury Management.

Dissertation

You’ll have the opportunity to undertake a challenging problem-focused or policy-relevant analysis and project. This lets you apply the skills and learning you've developed in the course of your taught classes.

Preparation for this component will include participation in the Economics and Finance forum. This includes opportunities to benefit from the experience of economics and finance professionals in business, academia and government.

Learning & teaching

This is an innovative taught programme with:

  • a problem-solving focus
  • a strong emphasis on students developing and applying their skills to real-world situations
  • expert guest speakers
  • teaching staff drawn from two world-class departments - Accounting & Finance, and Economics – that have high ratings for teaching, research and knowledge exchange

Entry requirements

An upper second-class Honours degree, or overseas equivalent. Relevant subjects include economics, finance, business studies and management science.

Consideration will also be given to applicants from a much broader set of backgrounds, including mathematics, environmental studies, politics, public policy and international affairs.

We’ll consider applications from well qualified and highly motivated students with any undergraduate degree specialisation. Applications are also welcomed from candidates with strong career experience in a relevant field.

For students whose first language is not English, get more information about the English language requirements for studying at Strathclyde.

Fees & funding

2018/19

All fees quoted are for full-time courses and per academic year unless stated otherwise.

Scotland/EU

  • £12,500

Rest of UK

  • £12,500

International

  • £20,300

How can I fund my course?

There are scholarship opportunities available for students applying for this course. Opportunities include:

Check our Scholarship Search for more help with fees and funding.

Scottish and non-UK EU postgraduate students

Scottish and non-UK EU postgraduate students starting in 2017 may be able to apply for support from the Student Awards Agency Scotland (SAAS). The support is in the form of a tuition fee loan and for eligible students a living cost loan. Find out more about the support and how to apply.

Don’t forget to check our scholarship search for more help with fees and funding.

Students coming from England

Students ordinarily resident in England can apply for Postgraduate support from Student Finance England. The support is a loan of up to £10,280 which can be used for both tuition fees and living costs. Find out more about the support and how to apply.

Don’t forget to check our scholarship search for more help with fees and funding.

Students coming from Wales

Postgraduate students starting in 2017 who are ordinarily resident in Wales can apply for support from Student Finance Wales. The support is a loan of up to £10,280 which can be used for both tuition fees and living costs. We are waiting on further information being released about this support and how to apply.

Don’t forget to check our scholarship search for more help with fees and funding.

Students coming from Northern Ireland

Postgraduate students starting in 2017 who are ordinarily resident in Northern Ireland can apply for support from Student Finance NI. The support is a tuition fee loan of up to £5,500. We are waiting on further information being released about this support and how to apply.

Don’t forget to check our scholarship search for more help with fees and funding.

International students

We have a large range of scholarships available to help you fund your studies. Check our scholarship search for more help with fees and funding.

Please note

The fees shown are annual and may be subject to an increase each year. Find out more about fees.

Careers

Graduates could gain employment in any job where a good knowledge of economics and finance is required. For example:

  • public sector
  • financial institutions
  • consultancies
  • international organisations
  • non-governmental organisations

Contact us

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Economics and Finance

Qualification: MSc, Start date: Sep 2018, Mode of delivery: attendance, full-time

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