Financial Economics MSc
In a steadily globalising world, the demand for specialists in finance and economics continues to grow. This demand exists across a host of institutions, ranging from policy-making authorities such as central banks and international organisations to commercial banks and brokerages.
The Financial Economics MSc course is designed to meet increasing demand by combining solid training in economic theory with practical exposure to the field of finance through a variety of specialised options. The Financial Economics course is especially distinctive in the three-way link it establishes between economic theory, quantitative finance and financial regulation.
You should have some mathematical background (A-level, IB, AP or any other equivalent secondary school qualification) and one of the following:
- a 2.1 (or equivalent) undergraduate degree in economics or a related discipline (e.g. finance)
- a 2.1 (or equivalent) undergraduate degree in engineering, applied mathematics, mathematics, theoretical computer science, statistics, physics or any other quantitative natural science
We also consider applications which do not meet these criteria but demonstrate a high degree of relevant professional experience. If you have not previously taken economics, we offer a free pre-sessional course in economic analysis.
All students must also meet the English language requirement for the programme as specified in the next section.
All students who join the programme must fulfil the English language requirement in one of the following ways:
- Hold a degree taught in one of the following countries: Antigua and Barbuda; Australia; The Bahamas; Barbados; Belize; Canada; Dominica; Grenada; Guyana; Ireland; Jamaica; New Zealand; St Kitts and Nevis; St Lucia; St Vincent and the Grenadines; Trinidad and Tobago; United Kingdom; United States of America (This list of majority English-speaking countries is determined by the UKVI. Find out more).
- Be a national of one of the above countries or Canada.
- Hold IELTS Academic taken within 2 years of the start of the course, with a minimum of 6.5 overall and a minimum of 6.0 in each component.
Note: We do not accept TOEFL; Cambridge English: Advanced (CAE); Cambridge English: Proficiency (CPE); a degree taught in any country not listed above or the West African Senior School Certificate as evidence of English language ability for students who require a tier 4 student visa.
INTO English language programmes
If you need to improve your English language skills before you join this programme, INTO City University London offers a range of intensive and flexible English language courses.
If you are not from the European Economic Area / Switzerland and you are coming to study in the UK you may need to apply for a visa or entry clearance to come to the UK to study.
The way that you apply may vary depending on the length of your course; there are different rules for:
- Students on courses of more than 6 months
- Students on courses of less than 6 months
- Students on a pre-sessional English Language course
Please note: If you require a Tier 4 student visa to study in the UK, you cannot undertake any City University London courses on a part-time basis.
For more information see our main Visa page.
- Start Date:
- September 2016
Full-time - one year. Part-time - two years (with an additional three months to submit dissertation, if required).
The range of electives you can study on the Financial Economics MSc course, as well as the coverage of topics within each of the core areas, reflects the relationship between economic theory, quantitative finance and financial regulation. Both the course design and its delivery draw upon the department's expertise in the areas of economic theory, econometrics, financial theory, financial mathematics, corporate finance and regulatory economics.
One of the most exciting aspects of the course is the unique opportunity to combine exposure to regulatory and policy aspects of finance with a thorough training in theory and quantitative methods.
This MSc course has been designed following extensive consultation with alumni currently employed in a variety of finance sector occupations. It addresses both the theoretical knowledge and the analytical skills required for careers in a broad range of financial and finance-related institutions, not just in the private sector but also in central banks, financial regulatory authorities and finance ministries.
The MSc also provides a solid academic foundation if you wish to pursue doctoral research in financial economics, and guidance is readily available if you are considering further study.
The teaching takes place over 2 terms from September to June. Full-time students who pass all the taught modules during the main exam sessions finish the programme at the end of September when they submit their dissertation or literature review. Full-time students who successfully complete the taught modules in the August resit exam session submit their dissertation or literature review in December.
Note: for part-time students, the modules are taught on weekdays during the daytime, alongside the students who are studying on the full-time Master’s programme. Please contact us for further details.
We are introducing a revised programme structure for students who join from September 2016.
Students take 1 of the following 2 paths:
- Dissertation path: 120 credits from taught modules and 60 credits from a dissertation
- Literature survey path: 150 credits from taught modules and 30 credits from a literature survey
Core modules for the dissertation path:
- Financial Markets (30 credits)
- Econometrics (30 credits)
- Dissertation (60 credits)
Core modules for the literature survey path:
- Financial Markets (30 credits)
- Quantitative Methods (30 credits)
- Literature Survey (30 credits)
Modules in core elective group 1 (all students choose 2 of these):
- Financial Derivatives (15 credits)
- Asset Pricing (15 credits)
- Corporate Finance (15 credits)
Modules in core elective group 2 (all students choose 2 of these):
- Quantitative Finance with Matlab (15 credits)
- International Macroeconomics (15 credits)
- Corporate Investment under Uncertainty (15 credits)
Additional modules for students taking the literature survey path (students choose 2 of these):
- Economics of Regulation and Competition (15 credits)
- The Economics of Micro-Finance (15 credits)
- Economics and Business Strategy (15 credits)
- Other modules from core elective group 1 and core elective group 2
Read the current programme specification (for students starting in 2015).
Teaching and Assessment
Teaching and Learning
The Financial Economics MSc course is delivered through a flexible combination of lectures, seminars and computer lab sessions. Lectures introduce you to the key theories, concepts and economic models. In seminars you have the opportunity to solve applied problems, analyse case studies and make presentations of research published in leading academic journals.
The computer labs provide you with practical experience of using computer software to perform calculations and conduct realistic simulations. In addition, econometric methods are taught in lab sessions, so you have the opportunity to apply econometric software to empirical research and financial market estimations.
When appropriate, "practitioner slots" - such as research seminars conducted by external financial experts, presentations by invited academics etc. - will be incorporated into module delivery.
We also offer pre-sessional induction courses on economic analysis for students who need to build up their background in the fundamental aspects of financial economics.
Each taught module is assessed through a combination of coursework and one final examination. For most modules the coursework contributes 30% of the overall mark and the examination contributes 70%. The nature of the coursework which the lecturer assigns varies according to the module, for example essays, presentations or computer-based data analysis and calculations.
Overall assessment is based on your performance in the taught modules and a dissertation or literature survey. Students require 180 credits to pass the MSc. The weighting of each module within the overall mark is determined by the credit value assigned to that module.
Read the full programme specification (for students starting in 2015)
- Full-time EU: £13,000
- Part-time EU: £6,750 per year
- Full-time Non EU: £16,000
- Part-time Non EU: £8,000 per year
For up-to-date information about tuition fees, living costs and financial support, visit Postgraduate Fees and Finance.
Graduate Loyalty Discount
The School of Arts & Social Sciences offers a 10% discount on tuition fees for all City graduates.
The Financial Economics postgraduate course has been designed following extensive consultation with alumni currently employed in a variety of finance sector occupations. Our students come from all over the world and typically have a background in economics, finance or mathematical subjects.
Our recent graduates have found positions in:
- Financial institutions
- Governmental agencies
- American Express
- Central Bank of China
- Financial Service Authority
- Ecobank Group
- Montpelier Asset Management
The skills and knowledge you develop throughout the Financial Economics postgraduate programme will allow you to pursue a career in a variety of roles within economics and finance. City’s Careers, Student Development and Outreach service can help you with working towards your career goals.
City boasts a global alumni network of thousands and you will also be able to attend career events during your Masters year.
Find out more about City University London
There is no fixed application deadline. We close applications when the course is full, so we encourage you to apply early.
MSc Financial Economics
To apply you will need to submit:
- An application form
- A personal statement explaining why you want to take this course and how your experience and academic qualifications make you a suitable applicant
- An official copy (and certified English translation if relevant) of your undergraduate academic transcript, or a provisional transcript and translation if you have not yet completed your undergraduate degree
- An official copy (and certified English translation if relevant) of your undergraduate degree certificate (if this is available)
- If you have undertaken a postgraduate degree, an official copy (and certified English translation if relevant) of your postgraduate academic transcript and degree certificate
- A copy of your passport
You can submit the following later if it is not yet available:
- Proof of meeting the English language requirement: proof of being a national of a country on the list of majority English-speaking countries; a certificate for a degree studied in a country on the list of majority English-speaking countries; or a copy of your IELTS results
The Department of Economics does NOT require references when you submit your application. However, the Admissions Tutor might request them at a later date to help make a decision on your application.
We strongly encourage you to apply online and upload scanned copies of your supporting documents:
- Apply online: MSc Financial Economics, full-time (2016 entry)
- Apply online: MSc Financial Economics, part-time (2016 entry)
If you are unable to apply online, you can download the application form here: