MSc Economics and Finance degree

Entry requirements
2:1 +
Full-time
1 year
Part-time
Not available
Start date
September 2020
UK / EU fee
£13,800
International fee
£21,900
Location
Loughborough
Application status
Open

Overview

Our MSc Economics and Finance programme will provide you with the capability to apply modern macroeconomic, microeconomic and econometric methods in order to assess and shape organisational, government and financial policy.

Taught by academic experts in economics and finance, you will learn how to apply modern macroeconomic, microeconomic and econometric methods in order to assess and shape organisational, government and financial policy. You will study economic theory and policy, the actions of governments, firms, households and intermediaries in national and global money, bond and foreign exchange markets.

You will examine both the microeconomic impacts for firms and the macroeconomic implications for the global economy, and will develop advanced theoretical and quantitative skills – highly sought after by employers in financial services and government – as well as transferable skills that will be of value in a range of other business and policy sectors.

In addition, there is the opportunity to sharpen your practical skills by completing a research project that allows you to apply your knowledge of economics and finance.

Who should study this programme?

Our masters in Economics and Finance programme is ideal for graduates interested in careers in banking, finance government (central banking, treasury, etc.), international organisations, business, management consultancy, economic consultancy, and for higher awards by research.

Why you should choose us

Why you should study this degree

What makes this programme different?

What you'll study

Economics of Firms and Markets (15 credits)

This module will expose you to the microeconomic theory of producer and consumer decision making and will provide a solid grounding in the economic theory and analytical methods employed in subsequent modules.

Module content

Topics covered may include:

  • consumer choice, including utility maximisation
  • theory of the firm, including production functions, and profit and cost minimisation
  • general equilibrium and welfare
  • Pareto efficiency and the two fundamental theorems.

Learning outcomes

On completion of this module you will be able to:

  • understand and analyse microeconomic models of consumer and producer behaviour, and general equilibrium in competitive markets
  • apply microeconomic models to aid understanding of observed behaviour and outcomes so as to better understand and inform economic policy and business strategy
  • use analytical tools and deductive reasoning to analyse real world behaviour and outcomes.

 

Teaching and learning

  • practical classes and workshops: 8 hours
  • lectures: 24 hours
  • guided independent study: 118 hours

Assessment

  • in-class coursework test: 25%
  • 2-hour exam: 75%

Macroeconomic Policy and Financial Markets (15 credits)

The aim of this module is to provide students with an understanding of the main models used for macroeconomic policy formulation at the graduate level.

Module content

Topics covered may include:

  • macroeconomics, finance and measurement:
    • income accounting
    • flow of funds analysis and role of money
  • the principle of aggregate demand:
    • savings
    • investment
    • net exports
    • the IS curve
  • financial markets, aggregate demand and monetary policy
  • fiscal policy
  • the foreign exchange market, the balance of payments, exchange rate and international policy formulation and co-ordination.

Learning outcomes

On completion of this module you will:

  • have developed an understanding of important areas of macroeconomic policies and be able to undertake analysis of the policies as regards to financial markets and the economy as a whole
  • be able to use macroeconomic models to answer policy related questions
  • understand and explain the causes of debate within the subject area
  • explain the operation of monetary and fiscal policy
  • have developed analytical and technical skills in macroeconomics, along with presentational skills for written work.

Teaching and learning

  • practical classes and workshops: 8 hours
  • lectures: 24 hours
  • guided independent study: 118 hours

Assessment

  • in-class coursework test: 25%
  • 2-hour exam: 75%

Financial Economics (15 credits)

This module will develop your familiarity with the fundamental concepts of financial economics to prepare you for further study in more advanced topics and modules in finance. You will also learn how to model the behaviour of investors under conditions of uncertainty and how to apply theoretical models in both asset pricing and the evaluation of capital market efficiency.

Module content

Topics covered may include:

  • fundamental mathematical techniques in finance:
    • discounting and compounding in discrete and continuous time
    • calculus and constrained optimisation
  • Taylor's series:
    • elementary matrix operations
  • yields and the pricing of bonds and discount securities using present value methods
  • the term structure of interest rates and the interest rate risk of bond portfolios
  • present value models of asset pricing
  • the concept of capital market efficiency and tests of efficiency
  • the expected utility hypothesis, utility functions and investor choice under uncertainty
  • diversification, mathematical optimisation and the mean-variance model
  • single index and multi-index models
  • the capital asset and arbitrage pricing models:
    • their derivation, interpretation and application
  • tests of asset pricing theory and asset pricing anomalies
  • hedging, speculation and arbitrage
  • an introduction to the basic features of options and futures
  • the single-period binomial option pricing model,

Learning outcomes

On completion of this module you will be able to:

  • describe the main classes of financial assets and derivative instruments
  • explain the nature of risk and risk-reduction in financial markets
  • describe and evaluate models of attitudes to risk and explain how attitudes to risk influence both portfolio choices and the market prices of assets
  • explain the concepts of equilibrium and arbitrage and show how they are used in models of asset pricing
  • analyse the relationship between capital market efficiency and equilibrium
  • evaluate tests of capital market efficiency and explain the significance of market efficiency for resource allocation
  • use mathematical and statistical methods to construct diversified equity portfolios
  • explain both formally and intuitively how portfolio selection leads to risk-reduction
  • use simple examples to show how derivative instruments can be used in the hedging of risk
  • derive and explain key equilibrium asset pricing models and use them to value securities
  • construct simple tests of capital market efficiency.

Leaching and learning

  • practical classes and workshops: 10 hours
  • lectures: 24 hours
  • guided independent study: 116 hours

Assessment

  • in-class test: 25%
  • 2-hour exam: 75%

Economic Data Analysis (15 credits)

This module will develop your competencies in the practical techniques economists often use to handle, analyse and interpret economic data. It will therefore provide you with a solid foundation of the econometric techniques and skills that form the basis for the quantitative/econometric modules of this master's programme.

Module content

Topics covered may include:

  • an introduction to econometrics
  • statistics
    • regression analysis
    • statistical inference and hypothesis testing
    • dummy variables
    • different functional forms
    • departures from main assumptions (multicollinearity, heteroskedasticity, specification bias and autocorrelation)
  • practical labs
    • applied direct analysis of economic data using STATA (or other equivalent software).

Learning outcomes

On completion of this module you will:

  • have developed a sound understanding of some of the fundamental, yet important mathematical and statistical techniques often used by economists
  • be able to appraise economic arguments through the quantitative analysis of economic data
  • become familiar with the use of at least one econometric computer package and be able to use it to formulate and estimate empirical models, as well as interpret the output and conduct hypothesis tests
  • have knowledge of how the estimates and output obtained can be assessed and to be able to carry out simple regression diagnostics
  • understand the basics in handling and compiling of economic data for analyses
  • be able to use econometric packages to analyse data and estimate models.

Teaching and learning

  • practical classes and workshops: 10 hours
  • lectures: 24 hours
  • guided independent study: 116 hours

Assessment

  • coursework in-class test: 25%
  • 2-hour exam: 75%

Research Communication for Economists (10 credits)

This module will:

  1. enhance your oral presentation and communication skills for both academic research and employment
  2. develop your spoken and written specialist language to suit the high-level communication requirements and style of project proposals and project reports, for both research and employment
  3. see you conduct critical constructive synthesis of specialist literature
  4. prepare you for subsequent research training and project modules.

Module content

Topics covered may include:

  • literature search, using library and online literature databases
  • analysis, synthesis and communication of research ideas and findings, using prescribed pedagogic sets of readings
  • writing reviews of prescribed pedagogic sets of readings using appropriate specialist language and structure
  • preparation of short presentations
  • recognition and avoidance of plagiarism and poor scholarship.

Learning outcomes

On completion of this module you will be able to:

  • apply the skills and methods to carry out an economics-based literature search
  • analyse and synthesise a body of academic and policy-related literature
  • conduct a written literature review by constructive critical synthesis
  • formulate proposals for new research or policy-related work
  • carry out a search for published literature using online and other bibliographic databases, and report on the results of such search
  • cnduct a specialist literature search, in the areas of economics, banking and finance, and write a review by critical constructive synthesis of this literature
  • develop a proposal for new research or policy-related work in the areas of banking, finance and or economics
  • carry out a literature search on any accessible topic
  • prepare and write both reports and proposals for new work
  • create and deliver effective oral presentations using appropriate visual aids.

Teaching and learning

  • lectures: 9 hours
  • practical classes and workshops: 21 hours
  • guided independent study: 70 hours

Assessment

  • literature review: individual report: 20%
  • literature review: oral presentation: 20%
  • individual oral presentation: 30%
  • 1,000-word written report: 30%

Applied Financial Econometrics (15 credits)

This module will give you the quantitative techniques necessary to conduct empirical work in the area of applied finance and economics.

Module content

Topics studied may include:

  • unit roots
  • cointegration
  • general autoregressive heteroscedasticity and its applications in finance
  • limited dependent variable models
  • panel data techniques.

Learning outcomes

On completion of this module you will:

  • have acquired knowledge of quantitative techniques used in applied finance and economics
  • be able to apply the techniques taught using appropriate econometric software
  • have developed skills in decision making, numeracy and clear communication.

Teaching and learning

  • practical classes and workshops: 4 hours
  • lectures: 20 hours
  • guided independent study: 126 hours

Assessment

  • 4 x 1,000-word coursework exercises: 40%
  • 2-hour exam: 60%

Risk Management and Derivatives (15 credits)

This module will introduce you to options, futures, swaps and other derivative instruments and their use in asset management.

Module content

Topics studied may include:

  • the market for options and futures
  • the concept of arbitrage
  • fundamental option price theorems
  • put-call parity
  • derivation of the Binomial and Black-Scholes option pricing models
  • valuation of futures contracts
  • stock index, interest rate and currency futures
  • examples of hedging and speculation using options, futures and swaps
  • portfolio insurance
  • bond portfolio management, duration and convexity.

Learning outcomes

On completion of this module you will:

  • have acquired knowledge of the basic theory of options and futures pricing
  • have an understanding of how different financial instruments can be combined into portfolios for the purpose of hedging, speculation and arbitrage
  • be able to identify the fundamental concepts of derivative financial instruments, derive theoretical prices for options forwards and futures, recognise arbitrage opportunities in simple examples and suggest trade strategies to exploit them.

Teaching and learning

  • practical classes and workshops: 4 hours
  • lectures: 21 hours
  • guided independent study: 125 hours

Assessment

  • in-class coursework test: 25%
  • 2-hour exam: 75%

Corporate Finance (15 credits)

This module will introduce you to modern theories of corporate finance and show how these can be applied to understanding the financing and investment decisions of companies, particularly those quoted on the stock exchange.

Module content

Topics studied include:

  • corporate investment decisions in the absence of uncertainty
  • investment and uncertainty
  • the theory of capital structure and Modigliani-Miller
  • event studies
  • Tobin's Q and investment
  • taxation and capital structure
  • trade-off and pecking order theories
  • empirical evidence on capital structure
  • dividend policy.

Learning outcomes

On completion of this module you will have an understanding of:

  • project investment appraisal
  • the capital structure of a corporation
  • dividend policy
  • current issues in corporate finance.

You will also be able to:

  • evaluate stylised investment projects, explain the rationale for the procedures used and demonstrate an understanding of the concept of the cost of capital
  • explain the Modigliani-Miller theorems and their implications for corporate financial decisions
  • explain the rationale for event studies and know how event studies are carried out
  • explain the main theories of corporate capital structure especially the role of asymmetric information and agency
  • understand the empirical evidence on corporate capital structure
  • demonstrate how the tax structure affects corporate investment and financial decisions
  • explain the public policy issues involved in corporate tax changes
  • explain the main theories of dividend policy and be familiar with the relevant empirical evidence
  • determine optimal project investment strategies
  • assess capital budgeting and corporate financing techniques
  • demonstrate further skills in analysing problems in financial economics and corporate finance.

Teaching and learning

  • lectures: 20 hours
  • guided independent study: 130 hours

Assessment

  • in-class coursework test: 25%
  • 2-hour exam: 75%

Optional modules (choose one)

Banking and Financial Markets (15 credits)

This module will provide an in-depth analysis of the causes, implications and regulatory responses to the recent global banking crisis. In particular, the objectives are:

  1. to review and analyse the theoretical basis of financial innovation and its impact on financial institutions and markets, and the role of derivative instruments in the banking crisis
  2. to review and analyse price- and credit-derivative instruments
  3. to analyse in depth the nature, causes, policy responses, and implications of the global financial crisis
  4. to consider post-crisis scenarios for bank business models and regulation.

Module content

Topics studied may include:

  • financial innovation and instruments
  • securitisation
  • credit derivatives
  • nature of the banking and financial crisis
  • causes of the crisis
  • policy responses and intervention
  • financial regulation.

Learning outcomes

On completion of this module you will:

  • have an understanding of securitisation, the role of derivative instruments, changing bank business models, how financial crises emerge, the role of regulation in banking and the financial system, the new economics of banking, and the central role of capital in banking.
  • be able to understand the operation of derivative financial instruments such as swaps, options, forward agreements, credit derivatives, etc.
  • understand the evolution of bank business models
  • understand how crises emerge in banking systems
  • be able to appreciate the objectives and role of regulation in the financial system.
  • be able to assess the nature of banks business strategies
  • have acquired skills in understanding issues in applied financial analysis
  • be able to critically assess media comment on banking and regulation issues.

Teaching and learning

  • lectures: 20 hours
  • guided independent study: 130 hours

Assessment

  • coursework (3,000 words): 25%
  • 2-hour exam: 75%

International Money and Finance (15 credits)

This module will allow you to engage with and study issues related to the mechanics of currency markets, international finance and economics. It will use economic principles to examine international monetary arrangements and policy since 1945.

Module content

Topics studied may include:

  • an introduction to exchange rates
  • international parity conditions
  • macroeconomic dimensions of international finance
  • international monetary arrangements
  • determination of exchange rates
  • international capital flows:
    • debt
    • currency crises
    • credibility

Learning outcomes

On completion of the module you will have developed:

  • an understanding of the international monetary system and the construction of economic modules to analyse these problems
  • skills in modelling macroeconomic variables in international finance and be able to employ these skills in your work
  • skills in analysis of argument and fact, synthesis of debate, the evaluation of evidence and hypothesis, numeracy and clear communication.

Teaching and learning

  • practical classes and workshops: 4 hours
  • lectures: 24 hours
  • guided independent study: 122 hours

Assessment

  • 2,500-word individual coursework assignment: 25%
  • 2-hour exam: 75%

Financial Economics in Practice (20 credits)

This module will:

  1. identify and assess complex issues in economics and finance
  2. allow you to apply tools of analysis to practical and research issues in economics and finance, thereby preparing them for employment in the financial services sectors of government, commerce and industry
  3. develop strong team working capabilities in preparation for future employment
  4. see you undertake advanced independent study in an area of economics, finance and financial markets.

Module content

Topics studied may include:

  • financial data analysis
  • investment decisions
  • capital structure of the firm
  • the finance-growth nexus
  • mergers and acquisitions
  • development finance
  • project finance.

These topics will form a basis for the research undertaken as part of the Economics Research Project module.

Learning outcomes

On successful completion of this module you will be able to:

  • interpret, summarise, critique, evaluate, and justify the application of appropriate research findings and practices that are commonly applied in the areas of economics and finance
  • robustly analyse relevant issues related to economics and finance
  • make fully supportable recommendations with regard to how the balance of research findings should impact decisions made by policy makers, firms, and consumers
  • critically discuss concepts, issues, research findings and new developments arising from recent research
  • synthesise and critically review important issues and themes from the economics and finance literature
  • communicate such synthesis and conclusions
  • formulate proposals for further investigation in the research area
  • obtain, analyse and apply information from a variety of sources including publicly available material
  • evaluate, synthesise and draw conclusions from literature
  • work effectively as a team to complete a project for specialist and non-specialist audiences.

Teaching and learning

  • lectures: 9 hours
  • practical classes and workshops: 15 hours
  • guided independent study: 176 hours

Assessment

  • group presentation: 50%
  • 3,000-word indivudual coursework assignment: 50%

Economics Research Project (30 credits)

This module will:

  1. see you apply and communicate you knowledge of economics via the development of an individual project essay
  2. allow you to explore an issue of policy relevant to your research theme, exploiting the economics tools and techniques taught in the your master's programme
  3. enable you to critically review a particular aspect of policy making and gain experience in conducting a piece of original applied research whose conclusions provide robust recommendations for policy makers and other decision makers
  4. improve your employment prospects by demonstrating your ability to independently complete an applied research project.

Module content

Within this module you will identify, propose, research and write an individual, distinct and in-depth applied economics research project.

Learning outcomes

On successful completion of this module you will be able to:

  • explain and critically discuss the main policy issues associated with their chosen topic in a specific field of economic research
  • use applied economics based research methods appropriate to their field of finance, banking, business strategy and/or international business
  • write a research report in a style suitable for communicating the research to a range of audiences.
  • analyse economic issues in a clear, systematic and coherent way
  • write a succinct and logically coherent summary of competing ideas and concepts, analysing data using appropriate methods and clearly communicating research findings.

Teaching and learning

  • project monitoring workshop: 4 hours
  • project supervision: 8 hours
  • guided independent study: 288 hours

Assessment

  • 7,000-word project report: 100%

The information above is intended as an example only, featuring module details for the current year of study. Modules are reviewed on an annual basis and may be subject to future changes – revised details will be published through Programme Specifications ahead of each academic year. Please see Terms and Conditions of Study for more information.

How you'll be assessed

You will be assessed by coursework as well as exams.

How you'll study

  • Lectures
  • Seminars
  • Tutorials
  • Independent study
  • Group work
  • Workshops

Your personal and professional development

Our School of Business and Economics is committed to helping you develop the skills and attributes you need to progress successfully in your chosen career.

Future career prospects

Well-trained, numerate economists are in high demand in every sector of the economy. Graduates will be equipped with the skills of a professional economist for careers in banking, finance, government (central banking, treasury, etc.), international organisations, business, management consultancy, economic consultancy, and for higher awards by research.

Graduate destinations

Example graduate destinations include: HSBC – Analyst; SSR Group (Sweden) – Associate FX Broker; Siemens – Finance Officer. Other students have gone on to further research study.

Your personal development

You will develop advanced theoretical and quantitative skills – highly sought after by employers in financial services and government – as well as transferable skills that will be of value in a range of other business and policy sectors.

All our Business and Economics postgraduate students have the opportunity to attend an impressive range of extra-curricular masterclasses and public lectures – all on campus and free of charge.

Entry requirements

Our entry requirements are listed using standard UK undergraduate degree classifications i.e. first-class honours, upper second-class honours and lower second-class honours. To learn the equivalent for your country, please choose it from the dropdown below.

Entry requirements for United Kingdom

2:1 honours degree (or equivalent international qualification) in economics, finance, business, management, management science, operations research or related subjects. Applicants from other disciplines will also be considered provided that your degree includes at least introductory modules in economics and an introduction to quantitative subjects such as calculus and statistics.

Afghanistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Masters 95% 85% 70%

Albania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplomë e Nivelit të Pare (First Level (University) Diploma (from 2010) 9.5 8.5 8

Algeria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence (4 year) / Diplome d'Inginieur d'Etat / Diplôme d'Etudes Supérieures 16 14 12

Argentina

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Argentina 8.5 7.5 6.0

Armenia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavri Kochum 90% 80% 70%
Magistrosi Kochum 3.9 3.5 3.0

Australia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Honours degree (AQF level 8) First Class, 80% Upper Second, 70%, H2A Lower Second, 60%, 2B
Ordinary degree - AQF Level 7 pass (mark 46 or 50) High Distinction (80% or 85%) Distinction (75% or 80%) Distinction (70% or 75%)

Austria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree/ Diplomstudium / Magister degree A (or 1.5) mit Auszeichnungbestanden 60% or B or 3.0 (or 2) 50% or C or 2.7 (or 3)

Azerbaijan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavr Diplomu 4.5 4 3.5
Diplomu (Specialist Diploma) 90% 80% 70%

Bahamas

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Bahrain

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8

Bangladesh

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
BUET or 'Good Private' University - 4 year degree BUET - 1st (70%) / 3.5 BUET - 2nd (60%) / 3.0 BUET - 2nd (55%) / 2.75
Other universities - Masters (1-2 years) following a 3 or 4 year degree 80% / 4.0 65% / 3.25 50% / 2.5

Barbados

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Barbados - Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Belarus

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Specialist Diploma (5Yr) 9 7 5

Belgium

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor degree Magna Cum Laude Cum Laude 60%/12
Licenciaat 80% 70% 60%
Licencie 17 14 12

Belize

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Benin

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Maitrise 18 15 or Bien 12 or Assez Bien

Bermuda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of the West Indies only 1st (GPA 3.6) 2:1 (GPA 3.0) 2:2 (GPA 2.5)

Bolivia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
A Licenciado, 4 years Private (public/private) 85/78 75/66 67/55

Bosnia and Herzegovina

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma Visokog Obrazovanja / Diplomirani 10 9 8

Botswana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's degree A or 80% B or 70% C or 60%

Brazil

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Brazil - 4 yr Bacharel or Licenciado/Licenciatura or Título Profissional 8.5 (A) 7.5 6.0

Brunei

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Brunei First Upper Second (60%/B/3.1) Lower Second (50%/C/2.7)

Bulgaria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 yr Diploma za Zavarsheno Visshe Obrazovanie (Diploma of Completed Higher Education) 6 5 4

Cambodia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 years 90% or 9 or 4.0 80% or 8 or 3.5 70% or 7 or 3.0

Cameroon

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor degree or Diplome d'Etudes Superiures de Commerce 1st or 15 2:1 or 14 2:2 or 12.5
Diplome d'Ingenieur or Diplôme d'Ingénieur de Conception or a Maitrise or a 4 year Licence 20 or GPA 3.7 20 or Bien (GPA 3.4) 20 or Assez Bien (GPA 3.1)

Canada

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0/percentage scale 3.7/85% 3.3/75% 2.7/68%
Out of 9 8 6 5
Out of 12 10 8 6

Chile

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Grado de Licenciado / Título (Profesional) de [subject area] (4 years) 6 5.5 5

China

Students are required to have a bachelor degree (4 years) for entry to a postgraduate programme. The University uses the Shanghai Academic Ranking of World Universities to identify the required final mark, as outlined on the table below:

First class (70%) Mid 2:1 (65%) 2:1 (60%) Mid 2:2 (55%) 2:2 (50%)
Shanghai Rank Top 250 85% 81% 80% 78% 77%
Shanghai Rank 251-500 89% 84% 83% 81% 80%
Shanghai Rank 501+ 92% 87% 86% 85% 82%

Affiliated colleges

The University will consider students from Affiliated Colleges in the following way:

Applicants from colleges affiliated to universities in the top 250 Shanghai rankings will considered if they have achieved or are likely to achieve final marks of 80%-84%.

Applicants from colleges affiliated to universities which are 251-500 in the Shanghai rankings will considered if they have achieved or are likely to achieve final marks of 82%-87%.

Applicants from colleges affiliated to universities which are above 500 in the Shanghai rankings will considered as follows:

  • School of Business and Economics: not considered
  • All other programmes if they have achieved or are likely to achieve final marks of 82%-87%.

Universities given special consideration

Applicants from a small number of Chinese universities that specialise in business, management, finance or creative arts will be given special consideration by the University. The full list of these universities and the Shanghai band under which they will be considered can be found in the PDF below.

Download the list of Chinese universities given special consideration here

Students who do not meet the above requirements may occasionally be considered if they have a relevant degree, can show good grades in relevant subjects, and/or have substantial relevant work experience.

Colombia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado / Título de [subject area] 4.5 3.75 3.2

Costa Rica

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado 9 8 or 80 7 or 75

Croatia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Baccalaureus / Prvostupnik 4.5 3.8 3.0

Cuba

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4-year Titulo de Licenciado / Licenciatura 5 4 3

Cyprus

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Cyprus 8.5 7.0 6.5

Czech Republic

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalár (after 2001) 6 yr integrated Magistr 1 1.5 2

Denmark

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 year Candidatus/Candidata Magisterii or Bachelor degree (7 point scale) 12 10 7

Dominican Republic

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year Licenciado 3.8 Magna Cum Laude 3.5 Cum Laude 3.2
Título de [subject area] - 85% 82%

Ecuador

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Título de Licenciado 8.5 8 7
Título de [subject area] 85% 80% 70%

Egypt

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Egypt 3.5 3.2 2.8
Universities only BA 90%, BSc 85% BA 80%, BSc 75% BA 65%, BSc 65%

El Salvador

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
5 year Licenciado 8.5 7.5 6.5
Título de Ingeniero 85% 75% 65%
Arquitecto - Muy Bueno Bueno

Estonia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalaureusekraad or Magister or Magistrikraad 5 or A 4 or B 3 or C

Ethiopia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's A/GPA 4.0 A/GPA 3.5 B/GPA 2.8

Finland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kandidaattii/Kandidat (out of 3) 3 2 1
Maisteri/Magister (out of 5) 4.5 3 2.5

France

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence (3 years)/ Maitrise/ Diplôme d'Ingénieur 14 12 11

Georgia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4-year degree (% = new system) 5 (95%) 4.5 (85%) 4 (75%)

Germany

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
German Bachelor/ Diplom, Magister Artium / Zeugnis über den Zweiten Abschnitt der Ärztlichen Prüfung 1.5 2.5 3.0

Ghana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Ghana First Upper second/60% Lower second/50%

Greece

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
AEI 8.5 7.0 6
TEI 8.5 7 6.5

Grenada

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from University of West Indies - classification 1st 2:1 2:2
Degree from University of West Indies - grade / percentage A B / 75% C / 55%
Degree from University of West Indies - GPA 3.6 3.0 2.0

Guatemala

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Liceniado / Titulo de (subject area) - 4years 90% (public university) / 95% (private university) 80% (public university) / 85% (private university) 60% (public university) / 70% (private university)

Guyana

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's GPA 4 GPA 3.5 3.0

Honduras

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Título de Licenciado / Grado Académico de Licenciatura (4 year degree) - GPA out of 5 GPA 5 or 90% GPA 4 or 80% GPA 3.5 or 70%

Hong Kong

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.5

Hungary

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Alapfokozt or Egyetemi Oklevel / Bachelor 5 4 3

Iceland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Baccalaurreatus degree or Kandidatsprof/Candidatus Mag 8.5 7.5 6.5

India

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Institutions listed on the Indian Ranking of Higher Educational Institutions Framework 65% (First) 60% (First) 55% (Upper second)
All other Indian institutions 70% (First with distinction) 65% (First) 60% (First)

Indonesia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sarjana I (S1) from A (or B) credited Universities 3.7 (4.0) 3.3 (3.7) 3 (3.3)

Iran

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Iran 17 15 13

Iraq

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Iraq 80% 75% 70%

Ireland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Republic of Ireland First (70%) Upper second (60%) Lower second (50%)

Israel

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
3 yr Bachelor Degree 90% 80% 70%

Italy

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma di Laurea 109/110 104/110 (or 27) 100/110 (or 26)

Ivory Coast

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplome d'Etude Approfondies, Diplome d'Etude Superieures or Diplome d'Etude Superieures 16 14 (Bien) 12 (Assez Bien)

Jamaica

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
For degrees studied at The University of West Indies or degrees accredited by UCJ and CCCJ 1st (GPA 3.6) 2:1 (GPA 3.0) or B 2:2 (GPA 2.0) or C

Japan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Japan 85% 80% or B or 3.0 70% or C or 2.0

Jordan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3 or 3.5/5 or 75% 2.8 or 65%

Kazakhstan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 5.0/percentage scale 4.5 or 90% 4 or 85% 3.5 or 80%
GPA 4.33 scale 3.9 3.7 3.2
GPA 4.0 scale 3.7 3.4 3

Kenya

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kenya First / 70% / A Upper second / 60% / B Lower second / 50% / C

Kosovo

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Kosovo 10 9 8

Kuwait

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.6 3.0 2.8

Latvia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Latvia 9 7 6

Lebanon

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
American 90% (3.5) 80% (3.2) 70% (2.8)
French 18 15 12

Liberia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's 4.0 or 90% 3.5 or 85% 3 or 80%

Libya

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
BSc Engineering, Architecture, Medicine 85 (3.6) 75 (3.0) 65 (2.5)
Other bachelor's degree from a university 90 (4.0) 85% (3.6) 75% (3.0)

Lithuania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Lithuania 9 8 7

Macau

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Macau 1st or GPA 3.7 2:1 or GPA 3.0 2:2 or GPA 2.5

Macedonia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Macedonia 10 9 8

Malawi

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's only MSc 75% MSc 70% MSc 65%

Malaysia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification First Class 2.1 2.2
GPA 4.0 scale 3.5 3.0 2.8

Malta

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Malta 1st (80%) 2:1 (70%) 2:2 (55%)

Mauritius

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Mauritius 1st or 70% 2:1 or 60% 2:2 or 50%

Mexico

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Mexico 9 8 7

Moldova

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma de Licenţă (Diploma of Licentiate) 10 9 8

Mongolia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Диплом Специалиста (Specialist Diploma) 90% or 3.5 80% or GPA 3.2 70% or GPA 3.0

Morocco

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Morocco 17 15 13

Mozambique

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year Licenciatura 16 14 12

Myanmar (Burma)

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
2 year Master's degree 5 or 85% 5 or 75% 4.5 or 65%

Namibia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Namibia 80% or A 70% or B 60% or C

Nepal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's (after 3 year bachelor degree) 90% or 3.9 GPA 80% or 3.8 GPA 65% or 3.3 GPA

Netherlands

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Netherlands 8 7 6

New Zealand

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Honours degree (480 credits) - Level 8 First (7.0) Upper Second (6.0) Lower Second (4.0)

Nicaragua

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciatura (4 year) 90% 80% 70%

Nigeria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
7 point Scale 6 5 4
5 point scale 4.5 3.8 3.5
4 point scale 3.5 3 2.5

Norway

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Norway A B C

Oman

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.5

Pakistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Public Universities 4 Year degree only First with distinction (75%) / 4.0 First (65%) / 3.2 Second (59%) / 2.6
Private Universities 4 Year degree only First with Distinction (85%) First (75%) First (65%)
2 or 3 year bachelor's plus Master's First (60%) Second (55%) Second (50%)

Palestine

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor Degree A / 90% / 3.7 B+ / 85% / 3.3 B / 80% / 3.0

Panama

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Licenciado / Título de [subject area] 91 (A) 81 (B) 71 (C)

Papua New Guinea

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Papua New Guinea 1st 2:1 2:2

Paraguay

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Paraguay - 4 3.5

Peru

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 Year Título de Licenciado / Título de [subject area] 14 13 12

Philippines

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Degree from prestigious state universities or Centres of Excellence (COE) Summa Cum Laude 4.0 / 96% / 1.0 Magna cum Laude 3.5 / 92% / 1.5 Cum Laude 3.0 / 87%/ 2.0

Poland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bachelor Degree (post 2003) Magister (pre- 2003) 5 4.5 / 4+ 4

Portugal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Portugal 18 16 14

Qatar

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8

Romania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diploma de Licenta/ Diploma de Inginer 9 8 7

Russia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Russia 4.5 4.0 3.5

Rwanda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
4 year bachelor (Hons) degree (480 credits) 1st, 16/20 (80%) 2:1,14/20 (70%) 2:2, 12/20 (60%)

Saudi Arabia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.8
GPA 5.0 scale 4.5 3.75 3.5

Senegal

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Maitrise, Diplome d'Etude Approfondies,Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees 16/20 or Tres Bien 14/20 or Bien 12/20 or Assez Bien

Serbia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Diplomirani/ Bachelor's degree 9 8 7

Sierra Leone

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification - 2:1 2:2
Percentage grading - 60-69% 50-59%
Letter grading - B+ B

Singapore

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification First Upper second Lower second
GPA 4.0 scale 3.7 3.0 2.7
GPA 5.0 scale 4.5 3.5 3.0

Slovakia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Slovakia 1.5 or B 2.0 or C 2.5 or C/high D

Slovenia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Slovenia 9.5 8.5 7

South Africa

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Classification 1st 2:1 2:2
Percentage scale 75-100% 70-74% 60-69%

South Korea

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA out of 4.5 4.0 / A 3.5 / B 3.0 / C+
GPA out of 4.3 4.0 / A 3.0 / B 2.7 / C+

Spain

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado / Título de Ingeniero / Título de Arquitecto 8.5 7 6.5
UCM grading 3.0 2.0 1.5

Sri Lanka

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sri Lanka 70% 60% 55%

Sudan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sudan (North and South) 1st or 70% or B+ 2:1 or 66% Mid 2:2 or 60% or B

Sweden

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Sweden - Overall grade of VG with a minimum of 90 credits at VG Overall grade of G with a minimum of 90 credits at G

Switzerland

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Switzerland 6 5 4

Syria

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
State universities 4 years of study 80% 70% 60%
Private universities 4 years of study 90% 80% 70%

Taiwan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Category 1 (4 year degree) 80% 75% 70%
Category 2 (4 year degree) 85% 80% 75%

Tajikistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Tajikistan - 4.5 4

Tanzania

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Tanzania 1st 2:1 2:2

Thailand

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.2 2.8

Trinidad and Tobago

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
For degrees studied at The University of West Indies or degrees accredited by ACTT 1st or B+ or 70% 2:1 or B or 65% 2:2 or B- or 60%

Tunisia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licence, Maîtrise, Diplôme National d'Ingénieu 15 (tres bien) 14 (bien) 11 (assez bien)

Turkey

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Lisans Diplomasi or a Műhendis Diplomasi 3.5 3 2.5

Turkmenistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Turkmenistan - 4.5 4

Uganda

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Uganda 1st or 4.4 2:1 or 3.8 2:2 or 3.0

Ukraine

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Dyplom Magistra or a Bachelors degree (11 / 5) 11 or 5 9 or 4.5 8 or 4

United Arab Emirates

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.0 2.6

United States of America

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
GPA 4.0 scale 3.5 3.2 2.8

Uruguay

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado (4 year) 10 9 8

Uzbekistan

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Bakalavr Diplomi / Diplomi (Specialist Diploma) 90% or GPA 4.5 80% or GPA 4.0 70% or GPA 3.0

Venezuela

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Licenciado/Professional title. (4 year) 18/20 or 8/9 16/20 or 7/9 14/20 or 6/9

Vietnam

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Vietnam 8.0 7.0 6.0

Zambia

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
Master's A or 4.0 or 80% B+, 3.5 or 70% B or 3.0 or 60%

Zimbabwe

First-class honours (70%) Upper second-class honours (60%) Lower second-class honours (50%)
3/4 year degree 1st or 75% 2:1 or 65% 2:2 or 60%

English language requirements

Applicants must meet the minimum English Language requirements. Further details are available on the International website.

Fees and funding

UK / EU fee

Full-time degree per annum
£13,800

International fee

Full-time degree per annum
£21,900

Tuition fees cover the cost of your teaching, assessment and operating University facilities such as the library, IT equipment and other support services. University fees and charges can be paid in advance and there are several methods of payment, including online payments and payment by instalment.

UK/EU: £13,800 

International: £21,900
Find out more about master's degree funding