MSc Banking and Finance

Applicants should usually hold a Bachelors degree (UK 2.1 or above) or equivalent qualification from a recognised British or overseas university in a related subject including accountancy, finance, economics, business administration, management, mathematics, physics, science and engineering. If an applicant’s Bachelors degree is not in a subject related to this MSc, some relevant work experience would be an advantage. Each applicant is assessed on their own merit. Higher level professional qualifications may also be accepted.

English language requirements

IELTS minimum overall: 6.5

IELTS minimum by component: 6.0

All fees are subject to increase or review for subsequent academic years. Please note that not all visa routes permit part-time study and overseas students entering the UK on a Tier 4 visa will not be permitted to study on a part-time basis.

Module Overview

The programme consists of six compulsory modules, two optional modules from a range of four, and a dissertation.

Semester 1 – Compulsory Modules

Money and Banking (15 credits)
Foundations of Finance (15 credits)
Quantitative Methods (15 credits)
Research Methods (15 credits)

Semester 2 – Compulsory Modules

Corporate Finance (15 credits)
Investment Analysis (15 credits)

Semester 2 – Optional Modules

International Corporate Governance (15 credits)
Derivative Securities (15 credits)
Risk Management (15 credits)
International Finance (15 credits)

Semester 2 – Dissertation

The dissertation carries a weight of 60 credits.

Compulsory Modules

Money and Banking

This module introduces money and banks (microfoundations) and the implications for allocative efficiency and regulation, whilst looking at the complex roles of asymmetric information, signalling, adverse selection, risk aversion, agency and moral hazard in banking activities.

Foundations of Finance

This module aims to provide a complete introduction to financial theory through a study of the problems of investing capital, specifically valuation of securities both as individual investments and their contribution to risk and return in a portfolio context.

Quantitative Methods

Finance is regarded as applied economics. A good grasp of quantitative methods in economics is essential for finance and accounting-related studies. This module is an introduction to the techniques of econometrics and the use of an econometric package.

Research Methods

Introducing the process of research project formulation and the key elements of research design, this module should prepare you to execute your research study for your dissertation in a systematic and scientific manner.

Corporate Finance

The aim of this module is to provide a substantial course in corporate finance following the Foundations of Finance module. This exposure will help you understand some of the more difficult materials in corporate finance and also present corporate finance as the working of a number of integrated and powerful institutions.

Investment Analysis

This module studies the various stages of the investment analysis and management process, from the award of an investment sponsor’s mandate, through investment manager selection, to the portfolio and performance outcome of that selection. Consideration is made at each stage of who makes the decisions and what those decisions are based upon. This includes asset allocation and comprises equity investment, active versus passive investment, drivers of value, security selection, investment style and investment performance.

Optional Modules

International Corporate Governance

This module builds on financial economics theories to encompass the latest developments in corporate governance worldwide. The theoretical study is supported by empirical evidence in which corporate governance develops by examining the legal structure and capital market for various countries at macro level, and the firm’s structure which influences the effectiveness of corporate governance at macro level. It takes an international approach by contextualising its development and providing a stimulating range of academic and practitioner research, and topical case studies. The module is designed as a substantial course in finance at master’s level appropriate to degrees in accounting and finance, generic business and management studies, and the MBA.

Derivative Securities

This module is targeted at students interested in understanding the purpose and use of derivative securities, specifically forwards, futures, swaps and options. Applications in hedging and speculating in corporate and funds management are used to reinforce a rigorous development of arbitrage theory that underpins the pricing behaviour of derivative securities.

Risk Management

Risk management focuses on the types of risk that arise for a business including market risk, credit risk and interest risk. This module considers: financial risk management strategies; how risk is evaluated; the methods that are available to hedge against risk; and the strategies that are employed to mitigate risk. This is complemented by consideration of operational risk and key risk management issues for financial institutions, including regulatory issues such as Basel II.

International Finance

The aim of this module is to provide you with an understanding of worldwide financial markets and the main types of securities traded in these markets, as well as how to use these securities to hedge risks in world financial markets.

Dissertation

The dissertation is the final element of the programme and it provides an opportunity for a sustained period of research. It allows you to concentrate on topics that are of particular interest to you and it draws upon a range of different aspects of the taught programme, particularly the Research Methods module. It also gives you an opportunity to work on your own with individual supervision.

The module is designed to allow you to:

• Undertake an original piece of research adding to existing knowledge
• Demonstrate an ability to select, define and focus upon an issue at an appropriate level
• Develop and apply relevant and sound methodologies
• Analyse the issue and develop recommendations and logical conclusions
• Be aware of the limitations of research work

You will also be expected to demonstrate an awareness of any ethical dilemmas that arise in your research.

The Surrey Business School is accredited by the Association to Advance Collegiate Schools of Business (AACSB) and by the Association of MBAs (AMBA).