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Different course options

Study mode

Full time


12 months

Start date


Key information

Qualification type

MSc - Master of Science

Subject areas

Econometrics Actuarial Science

Course type


Course Summary

Combining generic and specialist financial modules, the MSc Financial Economics programme offers a comprehensive grounding in financial markets and banking from an economics perspective.

The fascinating world of banking and financial markets is more than just headlines, it is the lifeblood of our collective global economies. Our MSc is designed for graduates with an economics-based degree, who are seeking to train themselves technically for their career in finance. With its blend of generic modules and specialist financial modules, this course would be ideal for individuals wishing to embark on a career in the finance industry.

Careers in Business

Careers in Business is a dedicated service for postgraduate Business School students. We’ll help you in all aspects of your career management, from planning your job-seeking strategies, applying for jobs, preparing for interviews and assessment centres and developing your essential employability skills. At the start of your programme you will receive an email from our team, giving details of how you can access Careers in Business Online. Please get in touch to find out how our Careers in Business team can support you.


The module covers the notions of risk and return in equity markets both in the context of asset pricing, with some consideration given to the management of equity portfolios. The stochastic discount factor approach is employed to present a general theory of the pricing of stocks, bonds, and derivatives and enables the estimations of particular models derived from the general theory. Emphasis will initially be given to the analysis of the time series properties of asset returns, such as fat tails and skewness, and dynamic properties, for example volatility clustering and long memory, will be investigated. The capital asset pricing model (CAPM) and the arbitrage pricing theory (APT) will be used as the foundation of the equilibrium pricing of financial assets. The discount factor, Generalised Methods of Moments and state-space language are considered in the context of the beta, mean-variance, and regression language common in empirical work and earlier theory. The module concludes by looking at the new research area of behavioural finance.
Dissertation (Economics) (60 Credits) - Core

Tuition fees

UK fees
Course fees for UK students

For this course (per year)


International fees
Course fees for EU and international students

For this course (per year)


Entry requirements

A 2:1 bachelor’s Honours degree (or overseas equivalent) in Economics or a related discipline. You are expected to have received a good training in economics, to at least intermediate level, and to have taken at minimum: Microeconomics, Macroeconomics, Econometrics or Statistics, and Mathematics or a Quantitative module at bachelor’s level.

University information

Part of the Russell Group of UK universities, the University of Birmingham has been developing great minds, encouraging challenging debates and pushing the boundaries of innovation and excellence for over 100 years. Over 14,000 students from over 150 countries choose to study at Birmingham, meaning you will be part of a diverse and vibrant community. 40% of this student population are postgraduates. Birmingham understands that you want to...more