MSc Business Finance

Queen Mary, University of LondonMSc Business Finance

Welcome

Dear Applicant,

This programme aims to train you in areas of financewhich have major practical and theoretical interest inrelation to all aspects of business finance. Such areasinclude investment analysis, valuation, corporatefinance issues such as optimal capital structure andmergers and acquisitions, derivatives, financemicrostructure and taxation.

The programme puts considerable emphasis on the theory and practice of corporate finance in all its guises. This emphasis is highlighted by thepresence of a number of dedicated basic and advanced corporate financemodules. The programme is intended to give professional postgraduatetraining to students wishing to pursue careers in business finance in privateand public companies, government and the City, as well as, any careerwhere knowledge of business finance, and finance in general, is ofrelevance.

Those registering for the MSc in Business Finance take four core modulesin the first semester and two core modules plus two options in the secondsemester. In order to reflect the practical and applied side of thisprogramme the School organises a number of extra optional modules thataim to provide further practical training to students, whose subject matterchanges from year to year. These modules are often taught by Citypractitioners, who provide an insider's view on topics of interest to thefinancial community.

Daniela Tavasci Business Finance

Contents

Queen Mary, University of London 01

The programme 02

The modules 05

Staff 08

Careers 11

Graduate employment 13

Alternative MSc programmes 14

Accommodation and application procedure 16

The information given in this brochure is correct at the time of goingto press. The College reserves the right to modify or cancel any statement in itand accepts no responsibility for the consequences of any suchchanges.

The programme

Programme descriptionThe course is intended to give professionalpostgraduate training to students wishing topursue careers in the City, Government orelsewhere in the private banking sector.

The programme brings the latest advances ofapplied research and is specifically designed toimpart a thorough knowledge of market-basedfinance, risk and asset management techniquesfor traditional and alternative investments, capitalmarkets valuation and corporate restructuringdecisions.

It is designed so as to offer flexibility andprogressive specialisation to educate experts theindustry is requiring and includes six coremodules that are the necessary foundations tomaster business finance and state-of-the-arttechniques. Then, students will opt for one of thetwo open elective; related to Management orTrading. The main objective of the electives is togo further in academic and applied expertise,allowing the students to tailor the coursecurriculum to their specific needs and careerchoices.

This course provides a rigorous training inCorporate Finance coupled with a stronglyvocational approach. As well as offeringadvanced study in all related key areas, thiscourse is presented with a fully integrated careersprogramme and extensive industry links that aimto maximise students' employment prospects.

Research strengthThe School of Economics and Finance iscommitted to excellence in research andteaching. Our expertise covers three key areas:economic theory, econometrics and finance, and applied economics. We regularly publish the results of our research in leading economicjournals.

We combine an excellent international reputationwith a friendly and informal atmosphere.

The School of Economics and Financeperformed exceptionally well in the 2008Research Assessment Exercise (RAE), ranked inthe top 10 economics departments in the UK.See: www.econ.qmul.ac.uk/news/rae2008/

It has also preformed extremely well in the 2011National Student Survey. The School is 6th in thecountry and top among London ResearchUniversities.

Many members of our School have recentlyreceived academic grants, and providedconsultancy and advisory services to primaryfinancial institutions such as the UK and ItalianTreasury, the ONS, the Bank of England andmany others.

Applied learningThe School has developed and nurturedcollaborations with a number of public andprivate institutions. This provides plenty ofopportunity for student placements and researchco-operation.

02MSc Business Finance

We also organise a number of additional, optionalmodules, the topics of which vary from year toyear. These modules are taught by Cityprofessionals, who are well-placed to give aninsider’s view on issues of interest to the financialcommunity.

This year planned optional modules include anelectronic trading module, a module on technicalanalysis, modules on computational finance anda module on applied portfolio management. All ofthese are taught by top City practitioners.

Postgraduate resourcesYou will have access to excellent computingfacilities, offering an ideal environment in whichto practise applied analysis. Standard softwarepackages for data analysis, simulation, and wordprocessing are available, including GAUSS,Eviews, PCgive, RATS, Microfit, and Stata.

We also provide full subscription access to a wide variety of financial databases such asDatastream, CRSP and Bankscope. We haveaccess to 12 dedicated Bloomberg terminals.

Teaching styleModules are taught in a three hour block format.The first two hours deliver the core theoreticaland technical concepts; these are then applied inthe remaining hour. Classes will be scheduledlate afternoon/evening where possible toaccommodate work commitments.

DissertationOver the summer term, you will write a 10,000word dissertation. Under supervision, you willlearn how to undertake applied analysis, runestimations and formulate and test hypotheses.

Examples of student dissertations include:Testing the Purchasing Power Parity betweenChina and US; Financial Market Imperfectionsand the Degree of Financing Constraints inTransitional Economy: Evidence from PakistanMarket; Financial Conservatism in the UKFinancial Market; Exchange Rates Movementsand Corporate Investment.

AssessmentThe grade for each module is assessed throughcoursework, which counts for 25 per cent of thefinal marks, along with a written exam in May.The 10,000 word dissertation written over thesummer counts for four modules.

Pre-semester modulesThese pre-semester modules in mathematicsand statistics take place over two weeks inSeptember. They are especially designed forstudents who want to review concepts such asstatistical distributions and matrix algebra. You will sit exams at the end of modules.

DurationYou will be studying over a 12 month period,beginning in September with the maths andstatistics pre-semester modules. You can alsostudy part-time over a 24 month period.


The programme (cont)


Pre-Sessional

2-week introductorymaths and statisticscourse.

Semester A

Commercial &Investment Banking

Investment Management

Business Finance

Quantitative Techniques

Semester B

Behavioural Finance

Advanced Corporate Finance

Option

Option

Programme Timetable – Course structure

Graduate profile: Damien RegnierStudied:MSc Finance andInvestment.

Currently:Working for JPMorgan Chase (London) onConvertible Bonds Tradingdesk as a permanent Analyst.During the first year I will

focus on the Quantitative side of the Trading, asConvertible Bonds are pretty complex, then I will goto the trading floor proper.

Why did you choose Queen Mary?After my studies in Mathematics in France in a‘Grande Ecole’ at Masters level, I was looking for aone-year postgraduate degree that would help me tofind a job in a big US investment bank. Due to mybackground, an MSc in Finance was the bestavailable choice. The choice for Queen Mary’s MScFinance and Investment was a no¬brainer: It waslocated in London, ten minutes from the City, it waswell balanced between economics subjects like

Corporate Finance and technical ones like FinancialDerivatives and last but not least it included somequite ambitious lectures on Behavioural Financeand Empirical Finance – not to mention that theSchool of Economics was very well ranked in the UK!

What did you gain from your time at Queen Mary?Good facilities, including reasonably priced centralLondon accommodation and the language school,which greatly helped me to enjoy my time inLondon. I also met some really interesting peopleduring this year, and I still meet up with some ofthem from time to time as many have been hired inthe City. Lastly, I use the knowledge I gained duringmy MSc on a daily basis: I think that is the best proofthat the programme is well structured!

What are your career plans in the next five years? As I have just started I’m still learning... a lot!I will hopefully be able to start trading towards theend of this year... and then well I don’t know, but I’mpretty confident!

ECOM049 Commercial and Investment BankingIn this module you will study the role of money in the macroeconomy, the behaviour of interestrates, banks and other intermediaries, theregulation of both money markets and thebanking system and the operations of centralbanks. The focus is on the practical aspects of money and banking as experienced bypractitioners in financial institutions.

ECOM037 QuantitativeTechniquesThis module aims to provide you with thenecessary tools for writing and estimating simpleeconometric models in the context of financialquantitative analysis. Basic statistical toolsneeded for understanding and using financialmodels are introduced and explained. We willassume you have a minimal knowledge ofeconometrics and statistics.

ECOM038 BehaviouralFinanceThe purpose of this module is to developstudents’ understanding of the theoreticalunderpinnings of behavioural finance, theempirical research surveyed in this area and theimplementation of investment strategies basedon the behavioural finance approach. Tocompare and contrast the assumptions behindmodern financial economics with behaviouralfinance.

ECOM050 InvestmentManagementThis offers a high level introduction to conceptsrelated to investment analysis. Topics treatedinclude valuation of real and financial securities;the principles of investment; valuation of riskysecurities; portfolio analysis and bond portfoliomanagement; financial market equilibrium; theCAPM and APT models; capital budgeting andrisk; market efficiency.

ECOM051 Business FinanceThis module aims to develop an understanding ofhow firms raise external finance and design theircapital structure. We also look at how realinvestments are valued and how corporationsinteract with financial markets. In particular, wewill be looking into how firms make financialdecisions. We will examine the assumption that afirm’s cash flows are exogenous with respect tofinancial decisions. Also studied are theModigliani-Miller theorems stating whichconditions make capital structure irrelevant, andderive the optimal debt/equity mix in thepresence of taxes and costly bankruptcy. The restof the module addresses the issue of how a firm’sfinancial and governance structure affects itsvalue once information problems between firms’insiders and investors are taken into account.

Advanced Corporate FinanceThis module will address the both the theoreticaland practical questions of such issues as; how tovalue companies, recapitalisation, bankruptcyand distress, optimal capital structure, corporate


The modules

The modules (cont)

liquidity, raising equity and debt capital, payoutpolicy, investment under constraints, and the useof decision trees, simulations, and real options.At completion a student will be able to challengeexisting frameworks and techniques, andcompetent to apply intricate corporate financetools and complex valuation techniquescomprehend how the taxation, debt andinformation assymetries weight upon decisionsregarding capital structure and build up astrategic perceptive of key financial decisionsfaced by corporations.

Optional Modules

ECOM026 FinancialDerivativesThe purpose of this module is to provide studentswith the theory and practice of pricing andhedging derivative securities. These includeforward and futures contracts, swaps, and manydifferent types of options. This module coversdiverse areas of derivatives, such as equity andindex derivatives, foreign currency derivativesand commodity derivatives, as well as interestrate derivatives. This module also addresses theissue of how to incorporate credit risk into thepricing and risk management of derivatives. Allthe relevant concepts are discussed based on thediscrete time binomial model and the continuoustime Black-Scholes model. The extensions of theBlack-Scholes model are also discussed.

ECOM035 InternationalFinanceThe process of financial globalisation hasemphasised the importance of internationalcapital flows for the understanding of exchangerate dynamic behaviour. For this purpose, theemphasis of the module will be on models forexchange rate determination which is an area ofcentral importance to major financial institutions.The module will focus specifically on (purchasingpower and interest rate) parity relationships, theuse of the forward rate as an optimal predictor ofthe spot nominal exchange rate; the asset priceview of exchange rate (using either flexible orsticky prices) with financial assets as perfectsubstitutes; the international CAPM and the (firstgeneration) models of currency crises. Particularattention will be paid to the implementation of theVector Autoregression Model (VAR) as aneconometric methodology to test some of thetheoretical models.

ECOM042 Empirical FinanceThis module will revisit the Efficient MarketHypothesis in finance and its relationship to therandom walk model. It will then discuss statisticaltests for the random walk hypothesis and theirapplications to weekly returns on commonstocks. It will then go deeper into the empiricalanalysis of asset returns data so as to uncover themain stylised facts in finance using simpledescriptive statistics. To explain the stylised factsin the data, the lectures will then apply assetpricing models from the two main strands ofmodern finance: market microstructure theoryand behavioural finance.



ECOM057 AssetManagementThe purpose of this module is to provide studentswith practical application of modern portfoliotheory and asset pricing, including activeportfolio management, portfolio performanceevaluation, portfolio insurance, and internationalportfolio diversification. On the successfulcompletion of the module students will know howto practically implement modern portfoliomanagement strategies and will be familiar withthe practical aspects of asset valuation.

ECOM059 Applied RiskManagement for BankingThe module is aimed at MSc Banking andFinance and MSc Investment and Financeprogrammes as an optional module, and fills thegap in the school’s current MSc curriculum byaddressing one of the most important “hottopics” in the post-financial crisis financialindustry – identification, measurement andmanagement if risks faced by financialinstitutions.

ECOM060 FurtherQuantitative Techniques for FinanceThis module aims to provide a deeper foundationin mathematics and statistics, creating a goodbasis for students to draw on in their professionalcareers. Module content also encompasses newand specialised techniques, which may not havebeen studied previously.

ECOM064 Applied Futureand OptionsThis course will provide students a generaloverview of exchange-traded futures and options(derivatives), from the perspective of a marketparticipant i.e., where are they traded? Whotrades derivatives? The composition of a trade?Order types available? What happens after thetrade? What is the impact of InformationTechnology on trading? Further, the course willclarify definitions relating to trading derivatives,evaluating option pricing using synthetics,assessing risk, the impact of margin and variousequity option strategies will be simulated.


Staff

Alfonsina Iona, PhD(Naples) Lecturer (Deputy Director)email: [email protected]

Corporate financeAlfonsina’s research in finance focuses on modelsof investment where the effects of capital marketimperfections contribute to shape the firm'sinvestment; where corporate investment is affectedby the public investment and where capital marketimperfections effects may be relaxed by somemacroeconomic variables. In this research areashe also analyses how corporate governancecharacteristics affect the firm financing policiesand how these affect the firm value.

Andrea Carriero, PhD(Bocconi University, Milan)Lectureremail: [email protected]

Applied macroeconometrics and forecastingAndrea is working on the econometric analysis ofpresent value models, with applications on theexpectation theory of the term structure ofinterest rates, the uncovered interest rate parity,and the new Keynesian Phillips curve.He is also working on the construction andevaluation of alternative composite coincidentand leading indexes for the Euro Area and the UK.

Francis Breedon Professor email: [email protected]

FinanceFrancis works mainly on foreign exchangemarkets with a focus on FX microstructure whichaims the understand exchange rate movementsby analysing actual trading activity. Most recentlyhe has studied how differences in beliefs

amongst market participants influence returnsand volatility. His research also extends to theinteraction between monetary and exchange ratepolicy and financial markets and includes recentwork on foreign exchange policy in Iceland.

Marcelo Fernandes, PhD(Solvay Business School,Brussels)Professoremail: [email protected]

Econometric theory, financial econometrics and empirical financeMarcelo’s research interests are in econometrictheory, financial econometrics and empiricalfinance. Most of his work deals with the theoryand application of nonparametric methods tohigh frequency financial data, although he is alsointerested in non parametric testing of propertiessuch as symmetry and independence. As forempirical finance, he is currently working on apreferences-free approach for the identificationof the stochastic discount factor.

Stepana Lazarova, PhD(LSE) Senior Lectureremail: [email protected]

Time series econometrics, structural breaks, long memory and bootstrapStepana works in the area of time serieseconometrics. In particular she focuses on timeseries with long memory. She investigates linearmodels with breaks in parameters and examinesthe validity of bootstrap methods for models withstrongly dependent processes.


Leone Leonida, PhD(York and Naples) Directoremail: [email protected]

Growth economics and financeLeone’s research interests are mainly in growthdynamics and corporate finance. On the onehand, he is studying the effects on growthprocesses and convergence patterns ofstructural change (ie industrialisation andeconomics shocks) by means of semi-parametricstochastic kernels and ACF estimation. On theother hand, he is studying the effects on firmvalue and investment of corporate governancemechanisms, exchange rate fluctuations andspill-over effects from public capital.

Yioryos MakedonisLectureremail: [email protected]

Yioryos's main areas of teaching and researchare mathematical economics, macroeconomics,with emphasis on banking, and environmentaleconomics. He holds postgraduate degrees fromthe University of Kent at Canterbury andBirkbeck, University of London.

Giles Spungin, PhD(London) Lectureremail: [email protected]

Asymmetric information, algorithmic trading,financial forecasting and financeGiles’ research interests are concentrated aroundareas of Finance, Financial Economics andFinancial Econometrics. He is interested ineffects of informational asymmetries on financialmarkets. Moreover, he works on Algorithmictrading and applications of Markov Regime

Switching to high-frequency financialforecasting, both equity and fixed income. In addition, he works in the industry for aninvestment bank as a quant auditor.

Jesse McDougall Visiting Professor

Jesse McDougall is a Visiting Professor ofFinance at QMUL. She also works as a PortfolioManager of a proprietary, quantitatively-drivenasset management strategy for Liquid CapitalMarkets. She worked for 5 years at BarclaysCapital in their Equity Derivatives ProprietaryTrading team, researching and trading arbitragestrategies and in a prior role, in CorporateFinance Advisory with Bank of Montreal. Jesse’sresearch interests are focused in the equitiesspace, on tradable market anomalies andbehavioural finance.

Gerry PerezVisiting Professor

Gerald Perez has been in the financial marketsfor more than 23 years. He is a formerprofessional institutional trader (in the US andEurope). He is a former project manager andcompliance officer. Gerald formerly sat on theFutures Industry Association (FIA) Europeanboard. Currently sits on the Options IndustryCouncil - European board and on the editorialboard of the Futures Industry AssociationMagazine. Gerald periodically appears andspeaks in exhibitions, periodicals, TV and Radio,on Bloomberg, CNBC Europe, NDTV and SkyNews from Europe, the Middle East to India. Heis a director at Interactive Brokers (IB).Interactive Brokers Group with an equity capital


of $4.4 billion is a large independent onlinebroker/dealer that operates offices worldwide. IB executes over one million trades per day.

Sample publicationsAiello, F., Iona, A. and Leonida, L. 2009 “RegionalInfrastructure and Firm Investment. Theory andEmpirical Evidence for Italy.” (with F. Aiello and L.Leonida). 2011 Empirical Economics 40, 25-50Regional Infrastructure and Firm Investment.Theory and Empirical Evidence for Italy

Guay, A., Guerre, E. and Lazarová, S. 2009Adaptive Rate-optimal Detection of SmallAutocorrelation Coefficients

Caggiano, G. and Leonida, L. 2008.“International Output Convergence: Evidencefrom an AutoCorrelation Function Approach”,The Journal of Applied Econometrics

Caggiano, G. and Leonida, L. 2007. “A Note onthe Empirics of the Neoclassical Growth Model”,Economics Letters

Carriero, A. 2008. “A simple test of the NewKeynesian Phillips Curve”, Economics Letters

Carriero, A., Favero, C.A., and Kaminska, I., 2006.“Financial factors, macroeconomic informationand the Expectations Theory of the term structureof interest rates”, Journal of Econometrics

Fernandes, Marcelo and Rocha, Marco Aureliodos Santos (2007) Are price limits on futuresmarkets that cool? Evidence from the BrazilianMercantile and Futures Exchange, Journal ofFinancial Econometrics.

Amaro de Matos, Joao and Fernandes, Marcelo(2007) Testing the Markov property with highfrequency data, Journal of Econometrics

Fernandes, Marcelo (2006) Financial crashes as endogenous jumps: Estimation, testing andforecasting, Journal of Economic Dynamics andControl

Fernandes, M. and Grammig, J. 2006. “A Familyof Autoregressive Conditional Duration Models”,Journal of Econometrics

Fernandes, M. and Gram mig, J. 2005.“Nonparametric Specification Tests forConditional Duration Models”, Journal ofEconometrics

Giles, R. 2005. “A point and figure chartapproach to UK interest rates”, Journal ofManagerial Finance

Lazarova, S. 2005. “Testing for Structural Changein Regression with Long Memory Processes”,Journal of Econometrics

Lazarova, S., L. Trapani and G. Urga. 2008.“Common stochastic trends and aggregation inheterogoeneous panels”, Econometric Theory

Kartsaklas, A. 2005. “The volume-volatilityrelationship and the opening of the Korean stockmarket to foreign investors after the financialturmoil in 1997”, Asian Pacific Financial Markets

Staff (cont)

Careers


George KapetaniosHead of SchoolWhy is your School offering the MSc in Business Finance?In today's competitive and unpredictableenvironment, companies are increasinglyfocusing on sound practices and tight riskmanagement, while ensuring the continuingability to operate profitably. Graduates willacquire the necessary theoretical and practicaltools to operate in this environment. This isparticularly important to banking institutions,particularly post the 2007-2008 “credit crunch”and during the difficult economic period we aregoing through. A crucial element of ourprogrammes is the presence of practitioners.They can complement the theoretical materialprovided during the course with real life casestudies that have been found invaluable by past students.

In which sector do you think your graduates willfind a job?Almost all economics and finance graduates finda job within a year, and I expect this situation tocontinue and possibly improve for student’s thatacquire this MSc. Many will embark on corporatefinance careers. But a significant number ofstudents will work in the wider private sector suchas private corporations or the government.

Why did you choose the School of Economicsand Finance at Queen Mary for yourpostgraduate study?After studying Economics in the University ofToulouse 1, I decided to come to London to studyfor an MSc in Finance and Investment as I felt itwould boost my career prospects. I chose QueenMary University of London after much researchof UK universities. The School of Economics andFinance at Queen Mary is renowned for itsexcellent research work.

What did you gain from your time at theSchool of Economics and Finance?I enjoyed a warm welcome from the School staffwhen I first arrived. In fact, my experience of theprogramme, teaching staff and fellow studentswas extremely positive from the outset. The mixof revision classes, tutorials, and guest speakerskept up the momentum, and helped me achievethe best results. As a foreigner, I was also veryglad of the free English classes offered by QueenMary. This helped to improve my confidence andlanguage skills. The University is also well-equipped with excellent modern facilities,especially the gym. Everything is done to helpyou feel at home.

What are your career plans in the next fiveyears? I am now living in London and working forone of the leading investment banks in the world,Deutsche Bank. I definitely think that studyingfor the MSc in Finance and Investment wasexcellent preparation for the corporate world.

Graduate profile: Karim Boudjelal

Salary bracket: £45-50,000 + bonus


Careers (cont)

Careers serviceOur careers service is run by a team of dedicatedand professional staff. We offer advice throughdrop-in sessions and in-depth interviews, andrun an extensive programme of seminarscovering topics such as: interview skills; howto deal with psychometric tests; and survivingassessment centres. You will also be able to use our extensive Careers Library.


An international outlook The Economics School at Queen Mary is madeup of people from all over the world. In fact,international diversity of both faculty andstudents is a key ingredient of our success.Female students are also well represented,making up almost 50 per cent of students.

The table below shows students’ country of originby percentage, for the MSc in Finance andInvestment. (The MSc in Business Finance is anew degree programme, so does not have anycountry of origin statistics yet).

Country of origin

Banking33%

Europe22%

Asia30%

Africa6%

England9%

InvestmentBanking23%

MiddleEast33%

InternationalFinance15%

Others17%

EventManagement 8%Research 4%

Graduate employment Former students have carved out successfulcareers in a variety of environments including:financial and academic institutions, the civilservice and industry.

First destinations of our graduates includeemployment and/or research at: the InternationalMonetary Fund (IMF), CFA, NYSE¬Euronext,Mazars Pakistan, JS Bank, South Chine Securities(UK) Ltd, ING Wholesale. Other former studentswork in the City of London in institutions such asBarclays, HSBC, Ernst&Young.

The table below shows student destinations, by percentage.

Graduate employment

Destination


Alternative MSc programmes

The School of Economics and Finance runs anumber of specialist MSc degree programmes.You can indicate a second choice of programmeon your application form. You will be consideredfor entry on to your second choice should wehave reached the maximum number of studentson the MSc in Business Finance.

MSc EconomicsMSc Finance and Economics MSc Finance and Econometrics

These are well-established intensiveprogrammes providing rigorous training inmodern economic theory and applications (MSCEconomics); advanced study in finance andrelated areas of economics (MSc Finance andEconomics); advanced study in finance andeconometrics (MSc Finance Economics).

These programmes are ideal for students whoaim to train as professional economists in theprivate sector or government, or follow anacademic, or research career. All threeprogrammes include a dissertation component,and are recognised as Research Training degreesby the ESRC under their “1+3” scheme.

For more information:MSc Economicswww.econ.qmul.ac.uk/postgraduate/msc-programmes/msc-economics

MSc Finance and Economics www.econ.qmul.ac.uk/postgraduate/msc-programmes/msc-finance-and-economics

MSc Finance and Econometrics www.econ.qmul.ac.uk/postgraduate/msc-programmes/msc-finance-and-econometrics

MSc Investment and FinanceThis programme aims to train students andprofessionals in areas of finance which havemajor practical and theoretical interest,especially investment analysis and corporatefinance issues such as optimal capital structureand mergers and acquisitions, banking,derivatives and finance microstructure.This programme offers professional postgraduatetraining, preparing students to follow careers infinance, banks or elsewhere in the private sector.A number of optional modules are also on offer.These are taught by City practitioners whoprovide insiders’ views on issues of interest tothe financial community.

For more information:MSc Investment and Financewww.econ.qmul.ac.uk/postgraduate/msc-programmes/msc-investment-and-finance

MSc Banking and FinanceThis MSc in Banking and Finance offersspecialised, practical training in an environmentof academic excellence. Students cover a varietyof perspectives on how financial markets operate,grounded in economic and financial theory andpractice.

This new, taught MSc programme is ideal forthose aiming to pursue careers in the City, private banking sector, financial institutions, and financial regulatory bodies, as well as thosealready working in these fields. Graduates will


be well placed to follow careers in investmentmanagement, financial statement, risk andportfolio management.

For more information:www.econ.qmul.ac.uk/postgraduate/mscprogrammes/msc-banking-and-finance /

MSc Finance This course provides a rigorous training infinance coupled with a strongly vocationalapproach. As well as offering advanced study inall the key areas of finance, this course has a fullyintegrated careers programme and extensiveindustry links that aim to maximise students'employment prospects. On completion of theprogramme students are expected to have deepknowledge of the financial systems of advancedand transitional economies; to be able tounderstand how corporations are financed and to be able to analyse financial statements, andfinally, to be equipped with appropriate statisticaland mathematical tools for high quality researchin Finance.

For more information:MSc Financewww.econ.qmul.ac.uk/postgraduate/programmes/msc-finance-new

MSc BankingThis MSc brings the latest advances of appliedresearch and is specifically designed to impart athorough knowledge of the main components ofcommercial and investment banking and thechanging structure of the international bankingindustry.

For more information:MSc Bankingwww.econ.qmul.ac.uk/postgraduate/msc-programmes

MSc Law and FinanceThis MSc Degree is to be offered jointly by the School of Economics and Finance and theSchool of Law. The objective is to provide highlevel inter-disciplinary treatment of the keysubject areas within law and finance foradvanced academic study and professionaltraining purposes. The Law and Financeprogramme will follow the LLM format withstudents taking 10 taught modules and anassigned essay.

For more information:MSc Law and Financewww.econ.qmul.ac.uk/postgraduate/msc-programmes/msc-law-and-finance

MSc Accounting and Finance The MSc in Accounting and Finance is a newtaught MSc programme that offers specialised,practical and theoretical education in anenvironment of academic excellence. It isdesigned for students who aim to pursue a career in the financial services industry andprofessionals who wish to improve theirtheoretical and practical knowledge of financialmarkets.

For more information:MSc Accounting and Financewww.econ.qmul.ac.uk/postgraduate/programmes/msc-accounting-and-finance-new


Accommodation and applicationprocedure

AccommodationIn the 2009/10 academic year, all postgraduateEconomics students were accommodated in Mile End’s award-winning Student Village, oncampus. This should be the case for future years.However, the accommodation office can alsohelp you find private accommodation nearby ifyou prefer. For more information please see:www.qmul.ac.uk/qmliving/accommodation

Entry requirementsYou should have at least an upper-second classhonours degree, or equivalent, normally, but notstrictly, in Economics. Some background inquantitative subjects is advisable. Students areexpected to sit pre-sessional statistics andmathematics examinations following intensivepre-sessional modules in September.

ApplicationAll candidates should include a full academictranscript (a record of courses taken and gradesachieved) and two academic references withtheir applications. The deadline for applicationsis mid-July, but courses generally start to fill up by the middle of March each year. The Schoolreserves the right not to process applicationswhich arrive later than July.

Further information The School welcomes informal enquiries about any aspect of its graduate programmes.For further information please contact thepostgraduate programme manager:

Sarah RileySchool of Economics and FinanceQueen Mary, University of London Mile End Road, London E1 4NS email: [email protected] +44 (0)20 7882 8848Fax +44 (0)20 8983 3580

For more information and application pack, visit:www.econ.qmul.ac.uk/postgraduate/msc-programmes/msc-banking-and-finance

This guide has been produced byCreative Services for the School of Economics and Finance – Pub8859

For further information contact:School of Economics and FinanceQueen Mary, University of LondonMile End RoadLondon E1 4NS Tel: +44 (0)20 7882 7356Fax: +44 (0)20 8983 3580email: [email protected]

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MSc Business Finance

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