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Faculty of Economics

 

StudentsStudents

The MPhil in Finance and Economics is a one-year master's degree that runs from mid-September to late July. It is an intensive course combining advanced study and research, tailored for people with one year or less of work experience who intend to go on to work for industry. It places particular emphasis on economic coverage of financial themes, beginning from the institutional background, moving on to careful consideration of how observed institutions should be modelled, and ending by relating existing models to data and discussing how these models should be improved when they do not fit the data. Each student will take eight modules and write a dissertation. Each module consists of twenty hours of lectures, together with supporting classes.


Requirements:

Course Requirements

To attend the preparatory course in mathematics and statistics

 

Take six compulsory modules

 

Take two specialist modules*

 

Write a dissertation of up to 10,000 words

 

*only one of which may be taken from the options from either the MPhil in Economics or from the Mathematics Department


Preparatory Course in Mathematics and Statistics

A good understanding of mathematics is needed to cope with much of the theory in modern economics and a sound knowledge of statistics is essential for applied work. The aim of the compulsory three-week preparatory course, which runs from mid-September to early October, is to review and develop the required technical methods for the compulsory core modules in macroeconomics, microeconomics, and econometrics. The topics covered are: linear algebra; statistics; static optimisation; dynamic optimisation; differential and difference equations. Students are expected to pass a two hour examination at the end of this preparatory course.


Course Modules

Assessment

Examination of the Modules will be in May/June. The modules account for 80% of the overall mark and the dissertation accounts for 20% of the overall mark.


Dissertation

During the second term, each student is allocated a supervisor for the dissertation. The topic of the dissertation is associated with either a core subject or a specialist subject and must be formally approved by the Faculty. During the second and third terms the student will meet the supervisor to discuss an outline of the topic, a bibliography, the use of appropriate data and methods of analysis, and a draft of the dissertation. After the written examinations in the third term, students can concentrate entirely on their dissertations, with supervisors permitted to give comments until the end of June (maximum of two hours supervision). The dissertation will be submitted at the end of July.


Continuation to PhD

The MPhil in Finance and Economics is designed for students who wish to obtain a one-year master's qualification before leaving academic economics, so it will not normally be possible for students to continue from the MPhil onto the PhD programme. However, in very exceptional circumstances a transfer to the MPhil in Economic Research may be possible in the first week of the Course.