Degree programmes at Oxford Saïd

Oxford MSc Financial Economics

2021-22

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‘I highly recommend the MFE programme – not only does it provide students with a solid academic and industry grounding, it opened

me up more widely to intriguing and valuable experiences with its extracurriculars and

electives.

As a result I now feel prepared to tackle new work challenges and seize the many career

opportunities the MFE has provided.’

Niye Betty Jiang MFE, 2019–20

Investment Analyst Macquarie Infrastructure

and Real Assets

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The Master’s degree for your future

744Average GMAT score

24Nationalities

94%International students

4 monthsAverage work experience

38%Female participants

77Class size

23Average age

A global student bodyYou join a diverse and vibrant cohort of ambitious students from around the world. Our students typically have less than two years of professional experience and are ready to launch or accelerate an exciting career in international finance or consulting.

Where theory meets practiceBringing together academic rigour and practical application, the MSc in Financial Economics (MFE) trains you to be a financial economist prepared for the challenges of the future. Graduates leave with a command of economics, knowledge of a wide range of financial applications, an international perspective and mastery of real-world skills that are in demand across leading companies and organisations spanning a wide range of industries.

Two disciplines, one top-ranked degree programmeThe MFE is jointly delivered by Saïd Business School finance faculty and the Oxford University Department of Economics. Your nine-month learning experience combines the expertise of two world-class departments and is enriched by input from world-class practitioners from leading international firms.

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Programme overview

Master the finance and economics skills and knowledge demanded by top employers

to accelerate your career in finance.

Pre-arrival preparation Michaelmas and Hilary terms

Asset PricingUnderstand the theory and practice involved in valuing claims and uncertain cash flows – from stocks and stock options to bonds and foreign exchange instruments.

Corporate Finance Explore the fundamental principles of financial accounting, the valuation of firms’ assets and the determinants of firms’ financial structures.

Financial EconometricsMaster the fundamentals of empirical modelling and testing in finance, providing appropriate techniques for empirical investigation in financial economics.

Economics Learn to apply the basic tools of market and firm analysis, game theory, incentive theory, and auctions.

International moduleAttend our three-day financial markets and institutions pre-course events.Hosted by our Careers Service, these events have previously taken place in-person in Hong Kong and London or virtually with a focus on these career markets. The course combines faculty teaching with seminars by industry leaders and employers in global investment banking, asset management and consultancy.

Maths and accounting You will be required to take pre-course classes in maths, Python, Wall Street Prep and accounting together with a professional development and careers session.

Four core modulesA deep dive into core subjects: corporate finance, financial econometrics, asset pricing and economics. The economics modules apply theories and methodology to finance, while the finance modules cover the underlying economic principles of financial practice.

Ethics and FinanceYou will be required to take an Ethics and Finance course in Michaelmas term. This course engages students with theory and practice. It will offer students the opportunity to interact with practitioners on an ethical topic and write a case study from real world data.

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Elective modulesYou can select a total of five electives to tailor your learning experience and expand your knowledge in areas important for your career.

Alternatively you may substitute one elective with a 10,000 word project addressing a question of academic interest or practical significance.

Chartered Financial AnalystSaïd Business School is a founding member of the CFA Educational Partnership programme. Some 70% of the official CFA qualification is embedded within the MFE curriculum and is officially recognised by the CFA.

A large proportion of students are registered with the CFA Institute. This partnership gives them the opportunity to access CFA material, sample exams and invitations to attend professional development events.

Trinity term

• Advanced Econometrics: Forecasting

• Asset Management*

• Behavioural and Experimental Economics

• Big Data in Finance

• Continuous Time Finance

• Corporate Valuation*

• Financial Crises and Risk Management*

• Financial Markets Trading*

• Fixed Income and Derivatives

• Fundamental Analysis for Active Investing

• Governance and Ethics*

• Identification in Finance and Social Science*

• Information and Communication in Finance

• International Finance

• Mergers, Acquisitions and Restructuring*

• Private Equity*

• Real Estate*

• The Nature of the Corporation* Electives offered can alter from year to year *electives mixed with MBA and/or MSc Law and Finance students

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Finance Lab

This tailored programme is led by seasoned practitioners with many years of transaction and market experience.

At its core are a series of models that are used to evaluate and appraise situations from the real world. You will leave with a toolkit to tackle financial problems ranging from valuations to leveraged buyouts, to M&A transactions and more.

You will actively participate in experiential workshops and seminars using real-life case studies working alongside banking firms and funds.

Asset Management Masterclass Exceptional students with some prior experience in investing will have the opportunity to participate in a practitioner-led course. The masterclass will improve their understanding of modern fund management from micro and macro viewpoints.

Understand the key concepts, processes, instruments and models required to be successful in financial services. Master the essentials for

a role in investment banking, private equity or asset management.

‘Hearing first-hand the experience of working for a leading firm and gaining insights into particular deals is an invaluable part of the programme. I even had the chance to meet executives from toptier firms which gave me the confidence I needed when interviewing.’

Charles Degrave MFE, 2016–17 Investment Banking Analyst Greenhill & Co

Organisations that have participated in The Lab include:

PRIVATE EQUITY FUNDS

• Ardian

• August Equity

• Bain Capital

• Blackstone

• Bridgepoint

• CDC

• Hamilton Lane

• Hermes GPE

• KKR

• LDC

• Oak Tree Capital

• Terra Firma

INVESTMENT BANKS

• Bank of America Merrill Lynch

• Barclays

• Citi

• Deutsche Bank

• Goldman Sachs

• Houlihan Lokey

• JP Morgan

• Lazard

• Morgan Stanley

• PJT Partners

• Rothschilds

• UBS

OTHER

• BDO

• Deloitte

• EBRD

• FTI Consulting

• ICG

• Park Square

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Drive your career development

Realise your fullest potential with the support of the Careers Team. We will work closely with you to drive your professional development and plan your future career. Building on the curriculum and co-curricular experiences like the Finance Lab and Asset Management masterclass, we help you develop the tools, competencies and mind-set to meet your aspirations – and your future employer’s needs.

Finance employers

• Bank of America

• Citi UK

• Credit Suisse

• Deutsche Bank

• Goldman Sachs

• Houlihan Lokey

• HSBC

• JP Morgan

• Lazard

• Morgan Stanley

• PIMCO

• Rothschild & Co

• UBS

Consulting employers

• Bain & Company

• BCG

• LEK Consulting

• McKinsey & Company

• Oliver Wyman

Work destination

Asia 26.2%

Europe 69.2%

North America 4.6%

Employment type

Finance 73.8%

Consulting 20%

Other 6.2%

£53,786Average mean salary

£54,087Finance mean salary

£54,784Consulting mean salary

Starting salaries

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Employers who recruited graduates in 2019

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Everything Oxford has to offer

Living in Oxford Enjoy century-old pleasures such as punting, visiting The Ashmolean (Britain’s oldest museum) walking through the misty Christ Church Meadow in the early hours, or drinking at the pub where C.S. Lewis and J.R.R. Tolkien discussed their works in progress.

Oxford clubs There are over 200 registered clubs and societies representing a breadth of interests from entertainment to the arts, language, politics, sports and beyond.

The College systemThe Oxford College system enables you to interact with students and Faculty from other disciplines. Some colleges provide accommodation for students.

Creative Destruction LabThe Creative Destruction Lab (CDL) is a start-up programme for early-stage, science- and technology-based companies that have the potential to massively scale. The CDL-Oxford Student Programme is designed to expose students to the world of entrepreneurship and provide them with an opportunity to interact with founders and investors.

The Oxford Foundry The Oxford Foundry is a new entrepreneurial centre for all students studying at Oxford. It is a dynamic, diverse, student-led community where innovation and creativity take root. The key focus of the Foundry is to inspire entrepreneurial thinking and boost students’ employability.

The Oxford Union You will gain life-long membership to the most prestigious debating society in the world. During the University terms, politicians, musicians, business leaders, sporting stars and more visit Oxford to join a topical debate or share their motivational story.

Distinguished speakersFrom Tim Cook to Michael Bloomberg, from Christiane Amanpour to Paul Poleman, many of the world’s foremost thinkers and leaders regularly visit the school to talk to students.

Global Alumni Network The Oxford Business Alumni (OBA)Network is the School’s official alumni community, bringing together individuals that share a common interest in business. They support the school and serve as our ambassadors around the globe.

As an Oxford graduate you will also have access to the wider University of Oxford alumni network globally.

• 23k+ OBA members

• 150+ countries

• 23 regional OBA chapters

• 60 dedicated OBA ambassadors globally

• 300k+ University of Oxford alumni

Upon admission you will become a member of a College; an academic and social community that

will enrich your time at Oxford.

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Ready to apply?

Application deadline Final decision

Stage 1 30 October 2020 11 December 2020

Stage 2 8 January 2021 5 March 2021

Stage 3 12 March 2021 7 May 2021

Full academic transcripts A minimum of a 2.1 degree (GPA 3.5 or its equivalent) is required – with your transcript outlining the subjects you have studied and your grades. It is not required that these subjects be in the field of finance, economics or business.

Work Experience Relevant work experience, such as an internship, is treated favorably at the application stage, but is not mandatory.

English test A TOEFL, IELTS, CPE or CAE test is required if you are not from an English speaking country.

GRE or GMAT score It is compulsory to submit your application with a score. We recommend that your quantitative scores are in the 85th percentile, your verbal scores are in the 80th percentile and your analytical writing score is at least 5.

References Two academic or professional references.

Personal Statement500 words detailing your career ambitions.

Course feeThe fee for the MFE programme 2020-21 is £46,800.

More information Visit: www.sbs.oxford.edu/mfe Email: mfe-enquiries@sbs.ox.ac.uk Tel: +44 (0)1865 288871

Are you ready to take a decisive step towards an exciting future? Get in touch with our admissions team today.

You will need to provide the following:

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‘The MFE programme offers you the opportunity to meet incredible people, to challenge yourself and to take the next step in your career. Saïd Business School’s Careers Team supports you all the way, reviewing your CV and practicing mock case interviews. The University of Oxford offers you extraordinary opportunities that make this Masters programme so unique!’Elena Vollmer  MFE, 2019–20  Equity Research Analyst Credit Suisse

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All information is correct at the time of going to press. Please check our website

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