Bangor University Finance

The MSc and MA Finance programmes at Bangor offer you a unique opportunity to develop an appreciation of the causes and significance of current developments in the financial and corporate sectors, and to study advanced theory and practice relating to financial markets and the financial management of business firms.

Issues you will tackle as part of your MSc or MA Finance degree programme include:

• What are the relationships between risk and return governing investment in company shares and other derivative instruments?
• Can market risk be priced accurately?
• Can credit risk be priced accurately?
• Which factors are most likely to influence the evaluation and implementation of international investment projects?
• How can we calculate a suitable cost of capital to appraise the capital investment decision?
• How should institutional investors go about constructing a portfolio of assets to maximise returns on behalf of investors?
• How can we assess the investment performance of pension funds, insurance companies and unit trusts?
• How are futures, options, derivatives and swaps used to manage balance sheet and off-balance sheet risks?
• What are the key principles of international portfolio management in a world of fast and unpredictable movements in exchange rates?
• How can spreadsheets be used to develop financial models, and what techniques are required to obtain computational solutions to finance problems?
• What are the main features of financial engineering, and how can one asset be transformed into another?
• What are the design features of synthetic assets, and how do they help us to develop strategies for hedging risks?
• How can financial forecasts be used in business valuation, and what techniques should be used to improve trend analysis and interfirm comparison?

With these needs in mind, the MSc and MA Finance programmes at Bangor are designed to develop participants' existing skills through a scheme of specialist advanced study. An important objective is to provide participants with relevant analytical training so that they are familiar with the latest theoretical and practical developments relating to corporate finance and the capital markets. These programmes provide a coherent theoretical framework for the various subject areas, but the emphasis throughout is on advanced practical application of financial techniques in a real-world setting.

The availability of parallel MSc and MA degrees in Finance allows you to choose between registering for a more technical MSc degree (including a compulsory element in Financial Econometrics), and a less technical MA degree (for which Financial Econometrics is optional). The MSc degree may be more suitable for applicants with some previous background in mathematics, statistics or econometrics, while the MA degree is more suitable for applicants who prefer to adopt a predominantly non-quantitative approach to their studies. However, both degrees include a compulsory module in Research Methods, which includes coverage of both quantitative and non-quantitative research techniques. Provided you are registered for the correct modules for your chosen degree, it is normally possible to transfer between the MSc and MA degrees during the first few weeks following your initial registration.

The MSc and MA degrees in Finance are scheduled for a duration of 12 months. Each degree programme consists of two parts.

Part 1 is a wholly taught component, contributing 120 credits. All taught modules carry a credit weighting of 15 credits. Part 1 is taught during the two semesters which make up the academic year. Teaching during semester 1 normally runs from late-September to December, with examinations in January. Teaching during Semester 2 normally runs from late-January to early-May, with examinations in May and June.

Part 2 consists of either a supervised Dissertation of around 10,000 words, or a structured Advanced Taught Programme of Summer Study that is specific to your chosen degree. Part 2 is completed during the summer months, from late-May to September. If you undertake a supervised Dissertation, you are expected to submit your Dissertation by September in the calendar year following your initial registration for your postgraduate degree. The assessments for the Advanced Taught Programme of Summer Study are also completed during September in the calendar year following your initial registration.

ESRC Recognition

The MA Finance is recognised by the Economic and Social Research Council (ESRC) as the first year of a 1+3 PhD training programme.

Course Structure

Compulsory modules: 

Research Methods: This module develops knowledge of intermediate and advanced research methods, and provides a basis in research methodology for those who may eventually wish to pursue research degrees. 

International Financial Markets: This module provides an overview of financial instruments in a multi-currency world, taking account of insights from portfolio theory concerning the relationship between risk and return, the diversification of risk, and the pricing of assets. 

Corporate Risk Management: This module provides an analysis of pure risk and its management. 

Financial Crises and Bank Regulation: This module examines why banks and financial markets are inherently vulnerable to crises, and analyses the role of policy makers and institutions. The roles of monetary policy, bank supervision and regulation, corporate governance and ratings agencies in mitigating or exacerbating crises are considered.

Investment Strategy and Portfolio Management: This module evaluates the development of investment strategies for bonds, equities and derivatives that are designed to achieve optimal risk-return outcomes, and examines the measurement and evaluation of the performance of a portfolio of investments.

International Financial Management: In this module the financial management of multinational companies and the influence of macroeconomic, fiscal, currency and political environments on business and financial decision-making are examined in an international and global context.                            

Optional modules (choose 2):                                        

Financial Modelling: This module develops a combined theoretical and practical approach to mathematical modelling for specialists in finance. The module emphasises numerical methods and other analytic approaches to financial modelling.

Islamic Finance: This module provides an insight into topical issues relating to Islamic financial instruments and related risk management issues. The first part of the module examines issues relating to financial contracting, instruments and various intermediation issues. The second part focuses on the role of the capital market in providing Islamic financing, and highlights financial engineering and risk management features of this type of business.

Accounting Theory: This module critically evaluates a widespread and widely based set of theories that underpin any explanation of accounting behaviour and accounting regulatory output. Several of the most relevant theories borrow heavily from other subject areas, notably economics, finance, politics and social theory. You will examine the links between accounting and these disciplines, and analyse regulation in the light of the insights gained. 

Advanced Financial Reporting and Regulation: This module provides an advanced treatment of the main theoretical principles underlying financial reporting, and the practical implications of alternative regulatory regimes. Financial reporting underpins all of the work of a professional accountant, and is a vital part of the process of communication between the firm and its stakeholders. 

Financial Institutions Strategic Management: This module examines the main theoretical and practical issues concerning banking business. You will develop a critical awareness of the theory of the banking firm, the motives for international banking, and regulatory and structural issues impacting on bank behaviour.

Financial Analysis: This module analyses the techniques that are used to evaluate a company’s financial position and performance. You will examine the principles underlying inter-firm comparison (comparing the performance of one firm with another) and trend analysis (comparing the performance of the same firm over different periods). 

Islamic Banking: This module provides an insight into the key features of Islamic banking business. The first part of the course outlines the theoretical foundations and development of Islamic banking practices. In particular, the main characteristics of various types of Islamic banking products are discussed. The second part of the course examines the operational features of Islamic banks, focusing on their performance and how they compete with conventional interest-based banks. The final part of the course outlines contemporary challenges to Islamic banking business.

Contact

Debbie Pritchard

Telephone

+44 (0) 1248 383023

E-mail

business.pg@bangor.ac.uk

Qualification

MA/Diploma

Duration

MA: 1 year full-time; Diploma: 30 weeks full-time

Entry

Entry to the MA Finance requires a good first degree in a relevant subject, e.g. economics, finance, accounting or management from a university, or a similar qualification from any other institution. Alternatively, possession of a suitable professional qualification and relevant practical experience may also be accepted. In general, however, applicants are judged on their individual merits and age, work experience and other factors are also considered. A two-year programme, with the first year as a "qualifying year", is also available for students whose backgrounds are different from those outlined above in order to prepare them more fully for their MSc Finance studies.

If your native language is not English, you must provide satisfactory evidence that you have an adequate knowledge and understanding of written and spoken English. IELTS and Internet-based TOEFL test scores of no less than 6.0 and 87 respectively, are usually acceptable. It may be necessary for applicants falling short of this minimum standard to attend an intensive English Language course before registering for the academic programme. Such a course is available at Bangor.

The course will be of interest to the following people:

• Graduates who wish to develop advanced analytical skills in finance
• Science graduates with the relevant technical skills who wish to undertake advanced study in the finance area
• Graduates who wish to pursue a career in investment banking and other capital markets related areas
• Employees in public and private organisations who wish to develop their finance
• Managers employed in central banks, development banks and other banking and financial services firms who wish to advance their finance skills
• Graduates contemplating a career in the investment banking sector and also in other financial service firms
• Graduates who have relevant practical experience and wish to enhance their skills in the areas of finance.