International Financial Management MSc

This programme benefits from Surrey Business School’s expertise in the fields of finance and accounting, combining these elements with a particular focus on the international business environment.

Why Surrey?

At Surrey Business School, we offer a diverse range of business and management programmes that are fuelled by a common approach: encouraging you to be entrepreneurial and innovative, providing opportunities for you to engage with real-world business problems throughout your programme.

Programme overview

The rise in importance and complexity of international financial management poses a challenge for multinational organisations and those who wish to pursue a career in the sector. This programme aims to meet the needs of future finance and accounting professionals, not only in the financial sector but also within other large international corporations.

You will be provided with the theoretical framework and practical skills required by professionals in the field. The programme takes an integrated approach to finance, accounting and international business, providing a coherent view that explores the interrelationships between the various components of the programme.

The high level of international content in the programme draws on Surrey Business School’s research activities and teaching strengths in this area. Furthermore, the programme’s wide international approach takes in emerging economies, as well as Anglo-American and continental European contexts.

The programme also provides a valuable foundation for those contemplating academic careers in this field, as well as further study in the areas of applied finance and accounting at PhD level.

Programme structure

The programme comprises six compulsory modules, two optional modules and a dissertation.

Compulsory modules:

  • International Business Management
  • Foundations of Finance: Finance and Investment
  • Principles of Accounting
  • Quantitative Methods
  • International Finance
  • International Corporate Governance

Optional modules:

  • Investment Analysis
  • Derivative Securities
  • International Financial Reporting
  • Money and Banking
  • Global Governance
  • International Trade
  • Risk Management

Example module content

International Business Management

International business management is the process of applying management concepts, theories and techniques in a multinational environment so that firms can become and remain international in scope. Moreover, a comparative view of management and organisation in internationally operating firms is provided to understand these processes in details.

Foundations of Finance

The Foundations of Finance module provides the theoretical underpinnings of all of our MSc Finance and Accounting programmes. It introduces the pivotal concepts which form the basis of theoretical finance under three broad headings; Portfolio Theory and Practice, Equilibrium in Capital Markets and Introductory Analysis of Asset Classes. Core concepts include the relationship between risk and return, the Capital Asset Pricing Model (CAPM) and the Efficient Market Hypothesis (EMH) but the module also extends this analysis into new theoretical areas such as Behavioral Finance.

Principles of Accounting

This module provides a practical study of the basic principles and advanced knowledge of financial accounting systems used around the world and addresses the major issues to be reformed. It also covers the fundamentals of management accounting.

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.

International Finance

In today's complex and dynamic business environment, managers are increasingly concerned with decision-making across borders. This module provides you with an understanding of finance in a global context, analysing the complexity of the international financial environment and how it affects the operations of both domestic and multinational companies.

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 on the different ways that corporate governance develops by examining how the legal structure and the capital market at various countries, along with the firm’s internal structures influences the effectiveness of corporate governance practices.

It takes an international approach by contextualising its development and providing a stimulating range of academic and practitioner research on the field.

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.

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.

International Financial Reporting

This module builds on the Principles of Accounting module and aims to address issues that arise for complex business entities from both conceptual and technical angles within the context of international financial reporting standards and national GAAPS.

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.

Global Governance

This module provides a general introduction to the contemporary system of global governance. It seeks to provide students with a general overview of key concepts, structures and theoretical debates in this field. It looks at the links between national and international politics and encourages students to think critically about social, political and economic trends.

International Trade

This module will equip you with knowledge of international business operations. Important trends in international trade will be analysed and an overview of the main theories of international trade will be provided.

Risk Management

Providing you with an insight into the risks that businesses take in their financial transactions, this module allows you to assess analytically the strategies that can be employed to reduce those risks.


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 allows 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; 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.

Teaching and assessment

The teaching and learning strategy builds upon the work carried out in the Research Methods module. It is designed to allow you to take responsibility for your own learning and progress, supported by individual supervision during which you will be able to explain, discuss and refine your particular ideas with your supervisor.

The teaching and learning methods will include regular individual supervision.

You will agree with your supervisor the objectives of your study, the arrangements for any fieldwork and the development of research instruments. The supervisor will also comment on drafts of your work.

Each module is assessed by one or more of the following:

  • Individual assignments (essays, case studies)
  • Group presentations/assignments (practical problem-solving cases)
  • Examinations (open or closed book)
  • Individually supervised dissertation

Professional recognition

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

Related programmes

Postgraduate (Taught)

Related departments/schools

Related research areas

Programme leader

Dr Christos P. Mavis

Find out more

General enquiries:

+44 (0)1483 681 681

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Programme facts

Type of programme:


Programme length:

  • Full-time: 12 months

Start date:

Sep 2016

Entry Requirements

View entry requirements by country

English language requirements

We offer intensive English language pre-sessional courses, designed to take you to the level of English ability and skill required for your studies here.


Study mode Start date UK/EU fees Overseas fees
Full-time Sep 2016 £11,000 £17,000

Please note these fees are for the academic year 2016/2017 only. Annual fees will rise by four per cent (rounded up to the nearest £100) for each year of study.

A complete list of all fees for our Masters Programmes


Discounts for Surrey graduates

Thinking of continuing your education at Surrey? As an alumnus of Surrey you may be eligible for a ten per cent discount on our taught Masters programme fees. Learn more.

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Modules listed are indicative, reflecting the information available at the time of publication. Please note that not all modules described are compulsory and may be subject to teaching availability and/or student demand.

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