Loughborough University
Leicestershire, UK
LE11 3TU
+44 (0)1509 222222
Loughborough University

Programme Specifications

Programme Specification

MSc Banking and Finance

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/ PG Dip/ PG Cert
Programme title Banking and Finance
Programme code ECPT36
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 the MSc.
UCAS code
Admissions criteria


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

1. Programme Aims

  • To develop knowledge of theories of banking, finance and research methods, and the application of these theories, beyond bachelor degree level, to provide basic training for doctoral level research
  • To give students general training that is vocationally relevant to employment in the financial services sectors of government, commerce and industry
  • To equip students with appropriate tools of analysis that will allow them to undertake applied research for their employers in the areas of banking and finance

2. Relevant subject benchmark statements and other external 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:

  • Understand and explain the functions and operations of institutions, financial markets and systems, with special reference to central banks, commercial banks and other financial intermediaries
  • Understand and explain the core theories of financial economics with respect to risk management, asset pricing and investment, and to be able to use these theories to assist them in asset management
  • Undertake independent applied research in banking and finance, using basic research tools and quantitative methods appropriate to the conduct of independent research.

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 banking 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 banking and finance
  • Use the professional and academic literature in banking and finance to formulate questions suitable for empirical research
  • Critically analyse professional and academic research papers in banking 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 banking and finance
  • Construct tables of statistical data, interpret such data, and carry out basic forms of 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 banking and finance
  • Use skills in synthesis to formulate key issues in areas of general debate other than banking 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, web-based information searching, handling of data in computer files, 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           





The Financial System



Financial Economics



Research Communication (continued in Semester 2)



Economic Data Analysis


             b) Optional Module

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





Economics of Firms and Markets (subject to permission by Programme Director)



Macroeconomic Policy and Financial Markets



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



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


4.2       Semester 2 (Total Modular Weight 75)

            a) Compulsory Modules 





Banking and Financial Markets



Research Communication (continued from Sem 1)



Applied Financial Econometrics


At least one of: 



Risk Management and Derivatives



Corporate Finance     


             b) Optional Module

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





International Money and Finance



Applied Banking and Financial Modelling



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



4.3       Assessed Research (Total Modular Weight 45)

During the summer period candidates will be required either to submit a dissertation or to attend one research practice seminar followed by examination. 

           a) Dissertation 







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

  • 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. 

               b) Research Practice Seminar           





Specialist Subject Knowledge



Research Skills          


  • Research practice seminars will be provided in seminar subject groups, on subjects to be published by the School before the end of semester one.

  • Students must attend and contribute to one research practice seminar group on a subject specifically related to banking, economics or finance. The seminar subject will be assessed by examination in the modules ECP301 and ECP302, worth 15 and 30 credits respectively.

  • Students will be allocated to a seminar group at the sole discretion of the organiser for modules ECP301 and ECP302.

  • Re-assessment with tuition is permitted during the next normal tuition period, if required, but tuition may not be available in the same research topic that was initially assessed.

  • The School reserves the right not to offer a research seminar in every subject area covered by taught modules and to offer a research practice seminar in subject areas not covered by taught modules.

    All work for the dissertation and research practice seminar modules 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.

     Dissertation Registration Criteria

  • All students will be registered initially as candidates for the research practice seminar modules ECP301 and ECP302.

  • To be eligible to register for the dissertation a student must have obtained credit in nine taught modules including ECP104, normally with an overall average mark of not less than 60% and subject to the approval of the MSc Dissertation Co-ordinator.

  • Students who have not indicated their preference for the dissertation on the Semester 2 Options Form will not be eligible to select the dissertation at a later date.

  • To be eligible to register for the dissertation a 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.

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

Prospective students

Information on studying at Loughborough University, including course information, facilities, and student experience.

Find out more »

1. Select programme specification
2. Save specification as a PDF
3. Print PDF