Loughborough University
Leicestershire, UK
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Loughborough University

Programme Specifications

Programme Specification

MSc Economics & Finance/Financial Economics

Academic Year: 2017/18

This specification provides a concise summary of the main features of the programme and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if full advantage is taken of the learning opportunities that are provided.

This specification applies to delivery of the programme in the Academic Year indicated above. Prospective students reviewing this information for a later year of study should be aware that these details are subject to change as outlined in our Terms and Conditions of Study.

This specification should be read in conjunction with:

  • Summary
  • Aims
  • Learning outcomes
  • Structure
  • Progression & weighting

Programme summary

Awarding body/institution Loughborough University
Teaching institution (if different)
Owning school/department School of Business and Economics
Details of accreditation by a professional/statutory body
Final award MSc/ PGDip / PGCert
Programme title Economics and Finance
Programme code Degree Paths: Economics and Finance(ECTP31) Financial Economics (ECPT37)
Length of programme The Programme is offered on a full-time basis only (except for purposes of re-assessment and in cases of credit transfer), commencing at the beginning of each academic session. The minimum period of registration is 9 calendar months for the award of PGDip and 12 calendar months for the award of MSc.
UCAS code
Admissions criteria

http://www.lboro.ac.uk/study/postgraduate/courses/departments/business-economics/economicsandfinance/

Date at which the programme specification was published Thu, 13 Jul 2017 21:21:34 BST

1. Programme Aims

  • To provide basic training for doctoral level research, including a sound foundation in research methods and economic theory, with a choice of fields of specialisation in economics and finance.
  • To allow students to be awarded MSc in Economics and Finance or MSc Financial Economics.
  • To equip students with appropriate tools allowing them to understand and analyse contemporary issues in economic policy.
  • To develop in students a range of transferable skills that will be of value in employment and self-employment.

2. Relevant subject benchmark statements and other external and internal reference points used to inform programme outcomes:

The academic level at which the MSc programme is taught and assessed is guided by the criteria for the degree of Master in The Framework for Higher Education Qualifications in England, Wales and Northern Ireland, published by the Quality Assurance Agency for Higher Education.

3. Programme Learning Outcomes

3.1 Knowledge and Understanding

On successful completion of this programme, students should be able to:

  • Demonstrate knowledge and understanding of advances in core microeconomic and macroeconomic theory
  • Demonstrate knowledge and understanding of either the operations of financial markets, institutions and systems around the World or core theories of financial economics with respect to risk management, asset pricing and investment
  • Demonstrate knowledge and understanding of the relevant quantitative methods and computing techniques necessary to allow for formal analysis of the above mentioned material
  • Undertake independent research in economics and finance, using appropriate research tools and quantitative methods.

3.2 Skills and other attributes

a. Subject-specific cognitive skills:

On successful completion of this programme, students should be able to:

  • Analyse theoretical and practical problems in economics and finance by using the theories and quantitative methods appropriate to those disciplines
  • Synthesise important issues and themes from the professional and academic literature in economics and finance
  • Use the professional and academic literature in economics and finance to formulate questions suitable for empirical research
  • Critically analyse professional and academic research papers in economics and finance.
b. Subject-specific practical skills:

On successful completion of this programme, students should be able to:

  • Present word-processed written reports using structure, paragraphing and citation, appropriate to professional and academic standards in economics and finance
  • Construct tables of statistical data, interpret such data, and carry out statistical hypothesis testing.
c. Key transferable skills:

On successful completion of this programme, students should be able to:

  • Apply skills in analysis (including statistical analysis) and problem formulation to areas of general debate other than economics and finance
  • Use skills in synthesis to formulate key issues in areas of general debate other than economics and finance.
  • Enhance skills in oral presentation of reports on group work, subject to deadlines.

More generally, students should have further developed skills in:

  • Numeracy;
  • Logical thinking and problem solving
  • Use of information technology (retrieval of data, data analysis using statistical packages and computer files, web-based information searching, basic word-processing and spreadsheet methods)
  • Written communication
  • Time management and decision-making
  • Independent study
  • Group study.

4. Programme structure

4.1      Semester 1 (Total Modular Weight 60)

            a) Compulsory Modules 

CODE

TITLE

MODULAR WEIGHT

ECP204

Economics of Firms and Markets

15

ECP205

Macroeconomic Policy and Financial Markets

15

ECP206

Economic Data Analysis

15

ECP104

Research Communication (continued in Semester 2)

 

           b) Optional Module

            One module with a total modular weight of 15 to be chosen from the list below. 

CODE

TITLE

MODULAR WEIGHT

ECP201

The Financial System

15

ECP202

Financial Economics

15

MAP104

Introduction to Measure Theory and Martingales (subject to permission by Programme Director)

15

MAP114

Stochastic Models in Finance (subject to permission by Programme Director)

15

 4.2      Semester 2 (Total Modular Weight 75)

            a) Compulsory Modules  

CODE

TITLE

MODULAR WEIGHT

ECP256

Applied Financial Econometrics

15

ECP104

Research Communication (continued from Semester 1)

15

           b) Optional Modules 

            Three modules with a total modular weight of 45 to be chosen from the list below.  

CODE

TITLE

MODULAR WEIGHT

ECP150

International Money and Finance

15

ECP158

Applied Banking and Financial Modelling

15

ECP251

Risk Management and Derivatives

15

ECP254

Banking and Financial Markets

15

ECP255

Corporate Finance

15

MAP204

Stochastic Calculus and Theory of Stochastic Pricing (Pre-Req MAP104)

15

  4.3       Assessed Research (Total Modular Weight 45)

During the summer period candidates will be required to submit a dissertation. 

                Dissertation

CODE

TITLE

MODULAR WEIGHT

ECP305

Dissertation

45

  • The subject of the dissertation will be a topic in economics or finance, and will be supervised by a full-time member of staff in the School of Business and Economics.

    All work for the dissertation must be undertaken on a full-time basis at Loughborough University, except in very special circumstances and with the prior agreement of the dissertation supervisor and module organiser.

  • Two copies of the dissertation, in approved form, should be submitted.

  • A candidate whose Dissertation is failed with a mark of 40-49% will be permitted to submit a revised version on one occasion only. A candidate whose Dissertation is failed with a mark of less than 40% will be permitted to submit a Dissertation on a new topic on one occasion only. In either case the date for re-submission will be set by the Review Board.

     Dissertation Registration Criteria

  • The student must submit a research proposal by 5:00 pm on the first Friday of the summer term. This proposed topic must be accepted by a dissertation supervisor and the module organiser, according to conditions set out in the module specifications for ECP305 (Dissertation).  A student who does not submit an acceptable proposal will be allocated a dissertation topic, chosen by the module organiser.

  • No more than three students will normally be allocated to any one supervisor.

  • A dissertation that is not written on the accepted topic cannot be submitted without the prior approval of both the module organiser and the dissertation supervisor.

    General Provisions

    The School of Business and Economics reserves the right to offer or withdraw any taught module.

    The School of Business and Economics may exercise its discretion in waiving prerequisites for its modules under exceptional circumstances. 

5. Criteria for Progression and Degree Award

5.1 In order to be eligible for an award, candidates must satisfy the requirements of Regulation XXI.  However for the Postgraduate Diploma: candidates must accumulate 105 credits plus marks of 40-49% in modules worth a total of at least 15 credits.

5.2 Candidates who have a right of re-assessment in a taught module may choose to be re-assessed in the University’s Special Assessment Period.

5.3 All examinations and tests must be taken at Loughborough University unless special permission is obtained in advance from the Programme Director.

5.4 The MSc/PGDip in Economics and Finance will normally be awarded following successful completion of programme requirements.  However students who have successfully completed named modules may qualify for MSc awards as specified in 5.5 below.

5.5 The MSc in Financial Economics may be awarded following successful completion of programme requirements to include the modules Financial Economics (ECP202) and at least one of Asset Management and Derivatives (ECP251) or Corporate Finance (ECP255) and a dissertation (ECP305 in an acceptable field of financial economics.

 

6. Relative Weighting of Parts of the Programme for the Purposes of Final Degree Classification

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