MSc Financial Economics and Econometrics - Financial Economics and Econometrics Degree

Program Overview

The MSc Financial Economics and Econometrics program at the University of Essex equips students with the skills to analyze and contribute to decision-making in the financial sector. It combines theoretical and applied econometrics with knowledge of financial markets, focusing on mathematical methods, data analysis, and economic modeling. Graduates are prepared for careers as business analysts, management consultants, and economists in both the financial industry and beyond.

Program Outline

Degree Overview:

The MSc Financial Economics and Econometrics is a specialized program that delves into the theoretical and applied aspects of econometrics, complementing subjects in financial markets and corporate finance. The program aims to equip students with the necessary skills for rigorous analysis, enabling them to contribute to high-level policy advice or decision-making within the dynamic financial sector. The program focuses on:

• Mastering mathematical techniques and statistical analysis: Students develop a strong foundation in quantitative methods.
• Acquiring a deep knowledge of financial markets: The program explores the workings of financial markets and how to analyze them effectively.
• Investigating key topics: Students explore the theoretical foundations of econometrics, the analysis of financial market data, and the economics of financial markets.
The University of Essex ranks 4th in the UK for research power in economics and econometrics, with particular strengths in game theory, theoretical and applied econometrics, and labor economics. The program benefits from this research expertise, with faculty publishing in high-profile academic journals like the American Economic Review, Econometrica, and Review of Economic Studies.

Outline:

Year 1

• Component 01: CORE (40 Credits)
• Dissertation:
Students undertake a research project of their choosing, studying a specific economic issue or set of problems in depth. This component allows for independent work and builds upon skills acquired during the Masters program.
• Component 02: COMPULSORY (20 Credits)
• Economics of Financial Markets:
This module explores the concepts of risk and return in equity markets, covering asset pricing and portfolio management. It examines the stylised facts of asset returns and reviews the theoretical foundations of modern finance, including expected utility theory and risk aversion.
• Component 03: COMPULSORY (20 Credits)
• Time Series Econometrics:
This module focuses on analyzing stationary and non-stationary time series. Students learn econometric methods for analyzing models of economic time series, including estimation and inference techniques. The module emphasizes applying these methods to research.
• Component 04: COMPULSORY (20 Credits)
• Econometric Methods:
This module equips students with the ability to conduct their own research using econometric methods. It covers linear regression, hypothesis testing, time series concepts like unit roots and co-integration, model selection, and panel data models.
• Option from departmental list:
Students can choose from a range of modules offered by the Department of Economics.

Teaching:

• Postgraduates are encouraged to attend conferences and seminars.

Assessment:

• Each module is assessed through a final examination and a coursework component.

• Coursework takes the form of a term paper or a midterm test.

• Dissertation: Students undertake an individually supervised research project involving an in-depth study of a specific economic problem or issue.

Careers:

• The program prepares students for a range of careers in the financial sector and beyond.

• Potential career paths include:
• Business and financial analysts
• Management consultants
• Government officials
• Economists for banks and other financial organizations
• The University of Essex has strong links with the research community and the business/consultancy world, particularly in London and other major financial centers.

• The Employability and Careers Centre provides support in finding work experience, internships, placements, and voluntary opportunities.

Other:

• The program offers a number of postgraduate taught double degrees with international partners.

• Students can earn two Masters degrees, one at Essex and another at a prestigious university abroad, in a shorter time than studying them separately.

• Home/UK fee £14,300
• International fee £22,400