Program Overview

Finance (Economics and Finance)

Course details

Our MSc in Finance (Economics and Finance) is designed to the highest academic standards. It will extend your existing interest in this complex subject and develop your skills and knowledge so that you can transform your interests into a successful career in finance or financial research.

We deliver cutting-edge analytical and technical skills and research techniques in an environment that embraces our core values of fairness in how we experience the financial world and equality of access to financial services. This knowledge is valued by leading global financial institutions and businesses, and by prestigious PhD research programmes.

The exciting 12-month full-time course combines core and optional modules, and culminates in a practice-based business project or a research-based dissertation depending on the learning direction you choose.

Relevant and stimulating topics covered include econometrics, micro- and macroeconomics, advanced financial theory and corporate finance.

You will be taught mainly through a combination of lectures, seminars, and practical work, with content developed in partnership with the Chartered Financial Analyst Institute (CFA), the leading global association for investment professionals and the accepted benchmark around the world for technical excellence in financial markets.

We pride ourselves on our team of committed academics who are passionate about the study of finance and how it presents itself in the lives of people and businesses around the world. On completion of this course, you will be ready to meet the challenges and earn the rewards of a career in finance, economics, or a related area.

World-class Business Education

• 11th (UK) 34th (Europe) 60th (Global) - QS World University Rankings: Masters in Finance 2025
• The Certificate in Engagement with Practice in Finance aligns with our strategic objective to cultivate future leaders in finance who are highly sought after by global institutions and research programmes. This distinctive and comprehensive offering within the MSc Finance programme enables students to build both technical expertise and the essential soft skills required for success in a competitive industry. Through a series of extra-curricular engagements, students deepen their knowledge and develop in-demand skills, such as communication, adaptability, and problem-solving. By completing at least ten targeted activities or a combination of engagements and Bloomberg certifications, participants demonstrate a well-rounded skillset that reflects the high standards of the finance profession. Successful completion results in a certificate of recognition, formally included on the academic transcript, signalling professional readiness to employers.

Course structure

Year 1 modules

Core modules:

• Advanced Financial Theory offers stimulating and rigorous training in modern financial theory and in the most important current research with an emphasis on application of finance principles. You will also develop an advanced understanding of normative and positive research in financial theory together with the related descriptive and empirical evidence.
• Advanced Macroeconomics develops your knowledge and skills in analysis in the wide and varied area of advanced macroeconomics. Topics are drawn from growth theory, business cycle theory, monetary theory and their respective applications.
• Advanced Microeconomics enhances your knowledge and skills in analysis in the wide and varied area of advanced microeconomics theory and how it can be applied. Topics may include consumer theory, producer theory, decision making under risk and uncertainty, incentives and strategic behaviour, market and general equilibrium, and welfare economics.
• Corporate Finance covers the theory and practice of corporate finance and the latest research. Again, you will examine both normative and positive aspects of the theory, together with supporting descriptive and empirical evidence.
• Dissertation on a finance topic of your choice, develops your ability to plan and manage your own learning. It provides an opportunity to conduct an in-depth investigation at an advanced level and present your findings and conclusions. To add a further international dimension to the course you can apply for the international route where you undertake research abroad at a partner university. There is also the option to develop a more applied project in conjunction with an appropriate organisation.
• Plus one from: Econometric Analysis covers some of the econometric skills needed to undertake empirical research in economics and/or finance and advanced econometric techniques. You will explore areas including hypothesis testing and confidence intervals, linear regression, and misspecification and dummy variables. Econometric Methods introduces modern econometric techniques and provides hands-on experience in applying those techniques to solve different problems in economics and finance. It aims to provide the econometric skills needed to undertake empirical research in economics and/or finance and advanced econometric techniques.

Optional modules:

• In recent years, optional modules have included:
  • Bank Management
  • Banking and Financial Intermediation
  • Behavioural Economics
  • Behavioural and Neurofinance
  • Financial Modelling and Business Forecasting
  • Time Series Analysis
  • Capital Market Development
  • Climate Finance
  • Derivative Markets
  • Environmental and Climate Economics
  • Experimental Economics and Finance
  • Financial Risk Management
  • Financial Technologies I
  • Financial Technologies II
  • Fintech Regulations
  • International Trade and Finance
  • International Financial Economics
  • International Study Tour
  • Islamic Banking and Finance
  • Islamic Capital Markets
  • Islamic Law and Financial Transactions
  • Market Microstructure
  • Mergers, Acquisitions and Corporate Restructuring
  • Monetary Economics
  • Portfolio Management
  • Private Equity and Wealth Management
  • Python for Finance
  • Advanced Topics in Public Economics
  • Security Analysis
  • A language module

Learning

Learning is delivered through lectures, some given by guest speakers, in seminars, practical sessions and in extracurricular activities. Seminars will see you working in a smaller group to discuss lecture topics and debate and solve issues raised. Practical work comprises medium-sized group sessions, in which you can practise computer software, applying topics from lectures and seminars.

You will undertake a combination of core and optional modules which will enable you to carry out in-depth study of particular topics. You will also complete an independent 12,000-word dissertation.

Typically, you will attend 10 hours per week of lectures in the first term, nine hours per week of lectures in the second term and undertake a one-hour seminar per module every two weeks.

Pre-sessional modules in accounting, economics, and mathematics and statistics, are offered in September and October in the form of five lectures and five seminars per module.

Assessment

Assessment on this course is rigorous and carried out through exams in January, May and June, a range of assignments and a 12,000-word dissertation in which you carry out independent research and develop your analysis skills.

Outside of timetabled contact hours, you will be expected to undertake your own independent study in preparation for exams, seminars, assignments and other forms of assessment as well as general background reading in order to broaden your subject knowledge.

Entry requirements

• Application Deadlines: The application process opens 1 October 2024 for Masters programmes commencing 2025.
• What do I need first? The Masters in Finance programme is designed for new or recent graduates. Certain routes within the Masters in Finance programme may also be of interest to those who already have practical experience in the field of finance. Prospective candidates must hold qualifications equivalent to a UK first or upper second-class honours degree in any discipline. Applicants are also expected to have strong quantitative skills for the programme, which includes fundamental concepts of calculus and statistics. Therefore, having studied a relevant mathematics/quantitative module at university level or a minimum of A level Mathematics (or its equivalent) is a prerequisite for prospective candidates.
• Check the full list of equivalent qualifications
• International students who do not meet direct entry requirements for this degree might have the option to complete an International Foundation Year.
• Home students who do not meet our direct entry requirements, may be eligible for our Foundation Programme which offers multidisciplinary programmes to prepare you for a range of specified degree programmes.

Fees and funding

• Full Time Fees:
  • Home students: £16,000 per year
  • EU students: £35,500 per year
  • Island students: £16,000 per year
  • International students: £35,500 per year
• Scholarships: We are committed to supporting the best students irrespective of financial circumstances and are delighted to offer a range of funding opportunities.

Career opportunities

• As a Business School Masters student, you'll have access to a dedicated postgraduate careers service offering a wide range of opportunities to help you develop the skills necessary for a global career.
• Our graduates are highly sought after by global employers. Some of our recent graduates now work in sectors including: financial services, healthcare, government and consultancy amongst many others.

Department information

• Our MSc Accounting is an innovative programme designed to develop your critical thinking skills and provide an essential introduction to a career in accountancy and related fields. It is taught by an outstanding academic team from the Department of Accounting
• The Department of Accounting is one of four departments at Durham University Business School. We offer a stimulating learning environment for our Masters students. As an accountancy student you will be joining an academic department with an international reputation for research and teaching excellence.