MSc — 2025 entry International Corporate Finance
Our MSc International Corporate Finance course will give you the necessary theoretical knowledge and practical skills to work as a finance professional in corporations or financial institutions. Through a carefully selected mix of inter-related modules, you will learn how to navigate in an increasingly complex, dynamic, and global financial environment.
Why choose
this course?
- As an international corporate finance student you’ll be based in the Surrey Business School and be part of a vibrant community, focused on improving business practice and creating a sustainable and positive change.
- You will be exposed to market-leading platforms such as Bloomberg and WRDS. The Bloomberg Market Concepts certificate is embedded in our programme. Our course is also affiliated with the chartered Financial Analyst (CFA) Institute and you can apply for a scholarship to sit the CFA exam.
- Employability is embedded in the masters. The tasks and assessments undertaken across modules are specifically chosen to equip students with knowledge and skills that are key to the role of finance professionals working in the finance industry.
- The School is renowned for its:
- World-class teaching and research
- Strong focus on entrepreneurship and enterprise
- Vibrant and diverse community
- Excellent career prospects.
Statistics
Fantastic graduate prospects
94% of our Surrey Business School postgraduate students go on to employment or further study (Graduate Outcomes 2024, HESA)
Top 75 globally
Surrey is ranked 67th in the THE World University 2023 Business and Economics subject rankings.
Top 10
Surrey is ranked 9th in the UK for overall satisfaction (Postgraduate Taught Experience Survey 2023)
Accreditation
What you will study
Our course will enable you to understand the rapidly changing financial market conditions around the world.
This masters will give you the theoretical knowledge and practical skills needed to understand the complex and ever-changing international financial market. With a focus on corporate finance and corporate governance practices, you will learn econometric techniques and be given the opportunity to empirically investigate theories with real-world data.
You will also get the opportunity to empirically investigate theories and phenomena under the guidance of our experienced academics.
Crucially, through various optional modules you will be able to customise your studies to suit your career aspirations and specific interests. You will also have access and get exposed to one of the most comprehensive sets of databases (e.g. WRDS, CSMAR, Orbis) used by researchers and financial analysts, enhancing your employability.
The programme enables you to develop the knowledge, skills, and critical thinking to be able to engage with corporate finance-related issues in different contexts, through using your experience in the group discussions and interactive sessions embedded in the masters.
Professional recognition
MSc - Association to Advance Collegiate Schools of Business (AACSB)
Accredited by the Association to Advance Collegiate Schools of Business (AACSB).
Our programme runs over three semesters.
You'll take four modules in both Semesters 1 and 2 (October to January and February to June, respectively).
The summer semester runs from June to September. You’ll study two taught modules and carry out your independent project during this time. The taught modules, Cases in International Finance and Ethics in Finance, are taught from June to July.
The structure of our programmes follows clear educational aims that are tailored to each programme. These are all outlined in the programme specifications which include further details such as the learning outcomes:
Modules
Modules listed are indicative, reflecting the information available at the time of publication. Modules are subject to teaching availability, student demand and/or class size caps.
The University operates a credit framework for all taught programmes based on a 15-credit tariff, meaning all modules are comprised of multiples of 15 credits, up to a maximum of 120 credits.
Course options
Year 1
Semester 1
Compulsory
To provide a grounding in the principles of accounting for students at Master level, most of whom are intending to pursue a specialist career in accounting or finance.
View full module detailsThis module lays the statistical and econometric foundations for data analyses and modelling, covering fundamental topics of estimation and inferences of linear and non-linear econometric models using Excel/Stata software. The quantitative, analytical and software skills acquired from this module will directly enable students to conduct independent quantitative analysis of data using estimation as well as hypotheses testing. As such, the module aims to help students to learn research methods, an integral part of any research project at post-graduate level, market analysis or policy analysis in government and non-government organisations.
View full module detailsThe module examines the various approaches to equity investment analysis, providing a systematic understanding of the challenges faced and the decisions to be taken when analyzing and valuing corporate equity. It encompasses the principles and practice of valuation of companies’ shares. This is examined from several aspects; industry analysis, company analysis, valuation methods and the link between valuation and investment style. Real corporate analysis will be undertaken in order to highlight and evaluate the different approaches to investment analysis.
View full module detailsThe module provides the theoretical underpinnings of our MSc Accounting and Finance programme. 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 Behavioural Finance.
View full module detailsSemester 2
Compulsory
This module further develops finance for students interested in corporate finance. The module is to demonstrate the link between those various decisions and areas. In particular, we will explore how the firm’s financing, investment, capital structure and payout policies interact with each other and how those decisions have implications for corporate bankruptcy and takeovers.
View full module detailsCorporate Governance is an area that has grown rapidly in the last few years fuelled by high profile corporate collapses and financial crisis. The module builds on sound theoretical base to encompass the latest developments in the field worldwide. It takes an international approach to corporate governance, contextualising its development and providing a stimulating range of academic and empirical practitioner research, and topical case studies. It also introduces institutional and legal systems from both government and firm’s viewpoints that influence the effectiveness of corporate governance.
View full module detailsAs a result of a range of recent corporate scandals an increased emphasis has been put on corporate social responsibility and the need for the board of directors to conform to an ethical code of conduct while managing the affairs of an entity. This module explores how corporate governance examines the system of rules, principles and procedures through which a company is run to promote the best interest of its shareholders, other stakeholders and the wider society.
View full module detailsThe Applied Cases in International Finance module aims to help students to develop an understanding of the process involved in successfully analysing case information to complete an international finance-related project. The module enables students to understand real-life, complex, multi-layered, multinational issues and synthesise appropriate information while preparing an analysis on a case. It facilitates the independent learning process and provides students with the knowledge, skills and understanding required to articulate findings in a structured report format.
View full module detailsOptional
This module is targeted at students interested in understanding the pricing of derivative securities, specifically options. Applications are used to reinforce a rigorous development of arbitrage theory that underpins the pricing of derivative securities.
View full module detailsThis module examines international currency markets and currency transactions, exchange rate systems and the implications of exchange rate volatility. It also explores various currency risks that arise from international operations and examines issues that arise when firms seek financing outside their home markets.
View full module detailsRisk management focuses on the following types of financial risk that arise for a business: market risk, credit risk and liquidity risk. A brief introduction to non-financial risks is also given, but is not the main focus. 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 key risk management issues for financial institutions including bank capital adequacy. The lessons to be learned from the Financial Crisis of 2007-08 are also investigated. Understanding risk and how to identify and deal with it provides a key input for students of finance, accounting or banking.
View full module detailsThe module provides an opportunity for students to apply their understanding of key theories and debates in International Political Economy (IPE) to current developments and case studies. Students will be able to discuss and debate the role of the main IPE institutions. Current and future challenges to the status quo of IPE are discussed as well.
View full module detailsThe module equips students with the knowledge and tools to implement financial models using Python. The course introduces students to the general principles of building financial models, as well as a number of specific financial modelling tools, including matrix calculations, optimization, regression analysis (both time-series modelling and panel data modelling), out-of-sample forecasting and simulation. These methods are applied to a range of practical problems in finance, including passive and active portfolio management, risk management and currency valuation. The emphasis of the course is on practical application of the theory, with lectures on each topic followed by in-depth practical classes, in which students work through real world problems using Python.
View full module detailsThis module looks at the firm and the industrial environment in which it operates. It asks why the firm exists and how it chooses to organise itself, before considering some of the factors that affect its performance and how these are related to the market structure in which it operates. An important influence on the firm is the structure of the market in which the firm works. This will affect the products and the process that the firm selects and the profits it earns. At the same time, of course, the firm may take actions that affect this market structure to its advantage. Thus, we want to ask how the firm¿s performance is affected by the market it is in. This has important competition and industrial policy implications.
View full module detailsAcross academic years
Compulsory
This is a compulsory module for the MSc International Corporate Finance Programme. It provides an opportunity to conduct a study on an international corporate finance-related situation and reflect on it. Students are expected to select a corporate finance-related issue from a range of choices, conduct an independent research and complete a report within a stipulated period. They will have the opportunity to consult with the Module Convenor while deciding on the business case that interests them. The research should be based on secondary data sources. The students will have opportunity to understand the techniques essential in writing financial reports. In addition, support sessions will be conducted by the module convenor to assist students to gain a comprehensive understanding of the requirements of the report.
View full module detailsOptional modules for Year 1 (full-time) - FHEQ Level 7
For further information regarding programme structure and module selection, please refer to the course catalogue.
Year 1
Semester 1
Compulsory
To provide a grounding in the principles of accounting for students at Master level, most of whom are intending to pursue a specialist career in accounting or finance.
View full module detailsThe module provides the theoretical underpinnings of our MSc Accounting and Finance programme. 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 Behavioural Finance.
View full module detailsSemester 2
Compulsory
This module further develops finance for students interested in corporate finance. The module is to demonstrate the link between those various decisions and areas. In particular, we will explore how the firm’s financing, investment, capital structure and payout policies interact with each other and how those decisions have implications for corporate bankruptcy and takeovers.
View full module detailsCorporate Governance is an area that has grown rapidly in the last few years fuelled by high profile corporate collapses and financial crisis. The module builds on sound theoretical base to encompass the latest developments in the field worldwide. It takes an international approach to corporate governance, contextualising its development and providing a stimulating range of academic and empirical practitioner research, and topical case studies. It also introduces institutional and legal systems from both government and firm’s viewpoints that influence the effectiveness of corporate governance.
View full module detailsAs a result of a range of recent corporate scandals an increased emphasis has been put on corporate social responsibility and the need for the board of directors to conform to an ethical code of conduct while managing the affairs of an entity. This module explores how corporate governance examines the system of rules, principles and procedures through which a company is run to promote the best interest of its shareholders, other stakeholders and the wider society.
View full module detailsOptional modules for Year 1 (part-time) - FHEQ Level 7
For further information regarding programme structure and module selection, please refer to the course catalogue.
Year 2
Semester 1
Compulsory
This module lays the statistical and econometric foundations for data analyses and modelling, covering fundamental topics of estimation and inferences of linear and non-linear econometric models using Excel/Stata software. The quantitative, analytical and software skills acquired from this module will directly enable students to conduct independent quantitative analysis of data using estimation as well as hypotheses testing. As such, the module aims to help students to learn research methods, an integral part of any research project at post-graduate level, market analysis or policy analysis in government and non-government organisations.
View full module detailsThe module examines the various approaches to equity investment analysis, providing a systematic understanding of the challenges faced and the decisions to be taken when analyzing and valuing corporate equity. It encompasses the principles and practice of valuation of companies’ shares. This is examined from several aspects; industry analysis, company analysis, valuation methods and the link between valuation and investment style. Real corporate analysis will be undertaken in order to highlight and evaluate the different approaches to investment analysis.
View full module detailsSemester 2
Compulsory
The Applied Cases in International Finance module aims to help students to develop an understanding of the process involved in successfully analysing case information to complete an international finance-related project. The module enables students to understand real-life, complex, multi-layered, multinational issues and synthesise appropriate information while preparing an analysis on a case. It facilitates the independent learning process and provides students with the knowledge, skills and understanding required to articulate findings in a structured report format.
View full module detailsOptional
This module is targeted at students interested in understanding the pricing of derivative securities, specifically options. Applications are used to reinforce a rigorous development of arbitrage theory that underpins the pricing of derivative securities.
View full module detailsThis module examines international currency markets and currency transactions, exchange rate systems and the implications of exchange rate volatility. It also explores various currency risks that arise from international operations and examines issues that arise when firms seek financing outside their home markets.
View full module detailsRisk management focuses on the following types of financial risk that arise for a business: market risk, credit risk and liquidity risk. A brief introduction to non-financial risks is also given, but is not the main focus. 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 key risk management issues for financial institutions including bank capital adequacy. The lessons to be learned from the Financial Crisis of 2007-08 are also investigated. Understanding risk and how to identify and deal with it provides a key input for students of finance, accounting or banking.
View full module detailsThe module provides an opportunity for students to apply their understanding of key theories and debates in International Political Economy (IPE) to current developments and case studies. Students will be able to discuss and debate the role of the main IPE institutions. Current and future challenges to the status quo of IPE are discussed as well.
View full module detailsThe module equips students with the knowledge and tools to implement financial models using Python. The course introduces students to the general principles of building financial models, as well as a number of specific financial modelling tools, including matrix calculations, optimization, regression analysis (both time-series modelling and panel data modelling), out-of-sample forecasting and simulation. These methods are applied to a range of practical problems in finance, including passive and active portfolio management, risk management and currency valuation. The emphasis of the course is on practical application of the theory, with lectures on each topic followed by in-depth practical classes, in which students work through real world problems using Python.
View full module detailsThis module looks at the firm and the industrial environment in which it operates. It asks why the firm exists and how it chooses to organise itself, before considering some of the factors that affect its performance and how these are related to the market structure in which it operates. An important influence on the firm is the structure of the market in which the firm works. This will affect the products and the process that the firm selects and the profits it earns. At the same time, of course, the firm may take actions that affect this market structure to its advantage. Thus, we want to ask how the firm¿s performance is affected by the market it is in. This has important competition and industrial policy implications.
View full module detailsAcross academic years
Compulsory
This is a compulsory module for the MSc International Corporate Finance Programme. It provides an opportunity to conduct a study on an international corporate finance-related situation and reflect on it. Students are expected to select a corporate finance-related issue from a range of choices, conduct an independent research and complete a report within a stipulated period. They will have the opportunity to consult with the Module Convenor while deciding on the business case that interests them. The research should be based on secondary data sources. The students will have opportunity to understand the techniques essential in writing financial reports. In addition, support sessions will be conducted by the module convenor to assist students to gain a comprehensive understanding of the requirements of the report.
View full module detailsOptional modules for Year 2 (part-time) - FHEQ Level 7
For further information regarding programme structure and module selection, please refer to the course catalogue.
General course information
Contact hours
Contact hours can vary across our modules. Full details of the contact hours for each module are available from the University of Surrey's module catalogue. See the modules section for more information.
Timetable
Course timetables are normally available one month before the start of the semester.
New students will receive their personalised timetable in Welcome Week, and in subsequent semesters, two weeks prior to the start of semester.
Please note that while we make every effort to ensure that timetables are as student-friendly as possible, scheduled teaching can take place on any day of the week (Monday – Friday). Wednesday afternoons are normally reserved for sports and cultural activities. Part-time classes are normally scheduled on one or two days per week, details of which can be obtained from Academic Administration.
Location
This course is based at Stag Hill campus. Stag Hill is the University's main campus and where the majority of our courses are taught.
We offer careers information, advice and guidance to all students whilst studying with us, which is extended to our alumni for three years after leaving the University.
94 per cent of our Surrey Business School postgraduate students go on to employment or further study (Graduate Outcomes 2024, HESA).
Past postgraduates with an MSc in International Corporate Finance, have pursed careers as:
- Investment manager analyst or associate
- Consultant
- Private banking officer
- Corporate finance executive
- Transactions due diligence associate
- Financial analyst.
Maira Moiz
Student - International Corporate Finance MSc
"As I have gone through the first semester, the professors, the lectures, and my previous experience have boosted my confidence. I feel altogether everyone around at University provides one with great support."
Maliha
Student - MSc International Corporate Finance MSc
Life as a postgraduate student at Surrey is incredibly rewarding, offering an ideal balance between academic rigour and personal well-being. One of the standout aspects is the feedback system, which mirrors real-world expectations, helping students refine their skills and prepare effectively for the demands of the corporate environment.
UK qualifications
A minimum of a 2:2 UK honours degree in accountancy, banking, business administration, economics, engineering, finance, management, mathematics or science, or a recognised equivalent international qualification.
We may be able to take relevant work experience into consideration if you don't meet these requirements. If you have at least one year of relevant experience in a full-time graduate-level role (or a minimum of two years’ experience in a relevant graduate-level part-time role) please provide full details of your role and responsibilities in your personal statement and CV when you submit your application.
English language requirements
IELTS Academic: 6.5 overall with 6.0 in each element.
These are the English language qualifications and levels that we can accept.
If you do not currently meet the level required for your programme, we offer intensive pre-sessional English language courses, designed to take you to the level of English ability and skill required for your studies here.
International Pre-Masters
Prepare for postgraduate study and boost your career prospects. This is an intensive programme of academic subjects, study skills and English language preparation designed to help you succeed.
Recognition of prior learning
We recognise that many students enter their course with valuable knowledge and skills developed through a range of ways.
If this applies to you, the recognition of prior learning process may mean you can join a course without the formal entry requirements, or at a point appropriate to your previous learning and experience.
There are restrictions for some courses and fees may be payable for certain claims. Please contact the Admissions team with any queries.
Scholarships and bursaries
Discover what scholarships and bursaries are available to support your studies.
Fees per year
Explore UKCISA’s website for more information if you are unsure whether you are a UK or overseas student. View the list of fees for all postgraduate courses.
September 2025 - Full-time - 1 year
- UK
- £15,200
- Overseas
- £24,900
September 2025 - Part-time - 2 years
- UK
- £7,600
- Overseas
- £12,500
- If you are on the two-year part-time masters programme, the annual fee is payable in Year 1 and Year 2 of the programme
- These fees apply to students commencing study in the academic year 2025-26 only. Fees for new starters are reviewed annually.
Payment schedule
- Students with Tuition Fee Loan: the Student Loans Company pay fees in line with their schedule (students on an unstructured self-paced part-time course are not eligible for a Tuition Fee Loan).
- Students without a Tuition Fee Loan: pay their fees either in full at the beginning of the programme or in two instalments as follows:
- 50% payable 10 days after the invoice date (expected to be October/November of each academic year)
- 50% in January of the same academic year.
- Students on part-time programmes where fees are paid on a modular basis: cannot pay fees by instalment.
- Sponsored students: must provide us with valid sponsorship information that covers the period of study.
The exact date(s) will be on invoices.
Additional costs
Financial calculator: £60 - The classics HP12c Platinum (recommended) and the TI BAII are the only two models allowed on CFA professional exams (which we encourage students to take on top of the master).
Funding
You may be able to borrow money to help pay your tuition fees and support you with your living costs. Find out more about postgraduate student finance.
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Please note that we may have to close applications before the stated deadline if we receive a high volume of suitable applications. We advise you to submit your application as soon as it is ready.
ApplyPlease note that we may have to close applications before the stated deadline if we receive a high volume of suitable applications. We advise you to submit your application as soon as it is ready.
ApplyAdmissions information
Once you apply, you can expect to hear back from us within 14 days. This might be with a decision on your application or with a request for further information.
Our code of practice for postgraduate admissions policy explains how the Admissions team considers applications and admits students. Read our postgraduate applicant guidance for more information on applying.
About the University of Surrey
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Contact our Admissions team or talk to a current University of Surrey student online.
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When you accept an offer to study at the University of Surrey, you are agreeing to follow our policies and procedures, student regulations, and terms and conditions.
We provide these terms and conditions in two stages:
- First when we make an offer.
- Second when students accept their offer and register to study with us (registration terms and conditions will vary depending on your course and academic year).
View our generic registration terms and conditions (PDF) for the 2024/25 academic year, as a guide on what to expect.
Disclaimer
This online prospectus has been published in advance of the academic year to which it applies.
Whilst we have done everything possible to ensure this information is accurate, some changes may happen between publishing and the start of the course.
It is important to check this website for any updates before you apply for a course with us. Read our full disclaimer.