Salford Business School
In a nutshell
Our MSc Finance is an intensive postgraduate course, designed to develop a detailed understanding of the practical application of modern finance theories in the financial world. The programme tracks the CFA syllabus and from the outset, you will take a hands-on approach to handling data and dealing with complex financial models. This degree is taught on our Peel Park campus, close to Manchester city centre, by experienced staff who are specialists in their area.
The modules on this master’s programme are designed to be of maximum relevance as they incorporate the latest developments in the financial sector, equipping you with the skillset to work in all areas of the industry. You will gain the technological skills and independent thinking abilities essential to working alongside companies, and the confidence and self-esteem to progress to senior roles.
You will not only master the academic theory of the finance industry but become aware of the high ethical standards expected from you as a financial specialist. You will also have the opportunity to gain experience in real-world application as we encourage you to apply your knowledge in new and unfamiliar environments when collaborating with our industry partners.
- Study a practically-focussed course, learning from industry experts
- Look at the latest developments in the financial sector
- Gain experience in real-world application, learning about complex financial instruments and the working of financial markets
- Study in a vibrant financial centre with industry and engagement opportunities
This is for you if...
You have a background in finance or similar
You are looking to develop your career or move into management
You enjoy putting your learning into practical experience
You are a critical thinker and a problem solver
You care about an ethical approach to finance and business
You want to challenge yourself with new learning and new experiences
All about the course
The programme is delivered full time across three semesters of 12 weeks each. In the first semester, you will study two core modules; in the second semester, you will study 1 core and select 2 from the optional modules. Face-to-face teaching is delivered on campus for 8 hours each week. You will also undertake independent study in your own time with online support through the University’s virtual learning environment, Blackboard.
Part-time students study alternate modules (one module on, one module off) to complete their degree in two years.
For the final third of your studies, you will work on your dissertation. You will be allocated a supervisor who will mentor you through the Dissertation.
The primary goal of this module is to provide an integrated overview of the most important issues in corporate finance from the point of view of a manager of a non-financial corporation in today's competitive environment. It provides a starting point for a successful career in finance.
Financial Markets and Institutions
An integral part of a well-functioning economy is the establishment and smooth operation of a developed financial system. This module introduces you to different financial markets and their role in the economy. These markets include equity, bond/debt/interest rate, foreign exchange and derivative markets. In this module, you will also learn about the trading instruments used in these markets. Moreover, the module offers an exploration of current developments in the world's financial markets and institutions, including innovation, globalization, and deregulation, with a focus on the actual practices of financial institutions, investors, and financial instruments.
Corporate Governance and Ethics
the global financial crisis have increased the urgency of the search for a better ethical framework and governance for business. An increase in the range, significance and impact of corporate social and environmental initiatives in recent years suggests the growing materiality of a more ethically informed approach. There are growing indications of large corporations taking their ethics and corporate governance responsibilities more seriously, and of these issues becoming more critical in the business agenda. This module will thus give you the opportunity to explore issues in corporate governance and ethics and the important role of the board of directors in improving governance and in embedding a more ethical approach in organisations.
Derivatives, Risk and Portfolio Analysis
The module will examine the trading and valuation of common derivative products such as forwards/futures, swaps and options, as well as equity and interest rate markets. It looks at practical applications of derivatives for hedging or investment purposes, including risk-return profiles, advantages and limitations.
You will acquire the skills and knowledge necessary to apply risk measures and management tools and to use portfolio theory to management and balance investment risk and return. You will also consider the practical issues surrounding forming and managing a portfolio and employing the concept of diversification for managing risky investments.
Optional modules: select two from:
This module looks at the latest developments in the area of Financial Technology. It starts by discussing the nature of blockchains and the innovation in financial services that are likely to take place in the coming years. It then examines the importance of modern cryptography and explores cryptocurrencies such as Bitcoins and how they are mined. This module makes use of real-world examples of how FinTech is already having an impact on the way the financial services are affected. Finally, it looks at examples of how different countries have reacted to the use of cryptocurrencies through government press releases.
Traditional approaches to finance have developed over time from the assumptions of human behaviour in neoclassical economics – that of the rational, self-interested, utility-maximising human. This has in recent times come under considerable criticism for not being based on actual human behaviour. This module draws on alternative views of human behaviour drawing heavily on psychology and sociology.
You will explore the rapidly developing area of behavioural finance using theory and evidence to examine financial and investment decisions and to provide a broader insight into the way people make financial decisions.
The module will enable you to devise ways of protecting a business from international risk. This will firstly include an understanding of the importance of exchange rates in assessing international interest and inflation rates and their effect on international trade; secondly, the role of derivative instruments and their application to hedging strategies to insure against excessive price volatility including the use of options, futures and swaps; thirdly, international risk reduction through structuring a business, invoicing policy and cash management. Finally, the module examines macro issues including crises, country risk analysis, theories of international trade and the balance of payments.
Banking and Financial Regulation
Banks play a major part in funding companies and by extension in economic development. Their increasing importance has led to regulation on an international level that affects all banking operations both large and small throughout the world. These major developments over the last 20 years make banking a fundamental part of understanding finance and the nature of the regulatory regime. You will have the opportunity to evaluate the performance of a bank as well as to analyse loan data and assess loan products. This allows you to appreciate the problems of lending, issues that are fundamental to all businesses.
SBS Fixed Income Securities and Credit Markets
Government and corporate bonds in their many forms represent the world’s largest source of funding yet have a relatively low profile in the subject of finance.
You will have the opportunity to value bonds and their risks by constructing and reporting on the weekly performance of a bond portfolio. In addition, you will be able to apply specialist bond strategies including riding the yield curve, duration and immunisation to business case study problems. Innovations such as securitisation and credit default swaps in the context of the global financial crisis will also form part of an exploration of current financial issues.
SBS Applied Econometrics
As the volume of economic and financial data is ever increasing, the ability to perform and critically discuss applied empirical work is central to a job in today's financial sector. This module provides you with a 'hands-on' environment in which they learn how to extract and analyse data. The emphasis will be on developing a solid understanding of the underlying econometric principles of the methods taught, as well as on their empirical application using statistical software such as Stata.
This module prepares you to work on the dissertation which completes your degree. You will build the basic econometric foundation on which to write a high standard dissertation.
You will attend two hours per week to learn and implement econometric models using statistical packages. You will also complete two separate pieces of coursework and a short proposal for the final dissertation. This module takes a hands on approach and is practically oriented.
Please note that it may not be possible to deliver the full list of options every year as this will depend on factors such as how many students choose a particular option. Exact modules may also vary in order to keep content current. When accepting your offer of a place to study on this programme, you should be aware that not all optional modules will be running each year. Your tutor will be able to advise you as to the available options on or before the start of the programme. Whilst the University tries to ensure that you are able to undertake your preferred options, it cannot guarantee this.
What will I be doing?
This course takes a student centric approach in a progressive, technology abled environment, taught by experienced staff who are also specialists in their area. You will be taught in a number of different ways including traditional lectures, seminars and under certain circumstances on a one to one basis.
All the modules incorporate the latest developments in Finance. You will work with real life examples such as the financial crisis and its impact in the last decade. From day one, you will work with actual data, fitting data to complex financial models and understanding their limitations.
An underlying principle of the learning and teaching strategy is to develop you as a reflective practitioner and encourage your engagement with continuous professional development. You are encouraged to experiment and learn from your successes and failures. Self-reflection, critical reflection and critical discussions are key components of this course. You will be encouraged to apply your knowledge in new and unfamiliar environments and come up with creative solutions.
Your learning will be assessed through a combination of coursework and examinations. Coursework, some of which is undertaken on an individual basis and some in groups, may take the form of essays, analysis of practical problems and cases, discussion of readings, objective (multiple-choice) tests, computer-based assessment and other forms. Some coursework (in particular individual and group class presentations) may be partly assessed by your fellow students. You will receive structured feedback in respect of coursework to help you develop your knowledge and understanding of materials covered in each module.
The dissertation in the final semester will count for one third of your final mark.
Salford Business School
Salford Business School aims to be the most business-informed, industry-relevant business school in the UK. Industry shapes everything we do, from informing our students’ learning to providing work placements, driving our research and influencing our academic staff.
We want you to gain the best academic and personal experience possible. As a student here, you’ll have access to a range of experiences and opportunities, including internships and work placements in the UK or internationally so you graduate with much more than a degree.
Salford Business School is located at the heart of the University’s Peel Park campus and just minutes from Manchester city centre. Teaching facilities include Lady Hale and Chapman buildings, which offer stylish modern spaces with lecture theatres equipped with the very latest technology and large screen displays. A dedicated Employability team will help you with work placements and access to work skills. Throughout campus, there is a choice of individual study areas, communal learning and breakout spaces.
There's a selection of food outlets and a student kitchen in Maxwell Building means you have access to a kettle and a microwave if you want to bring your own food and drinks.
The library in the park
Having undergone a £6.2 million refurbishment, Clifford Whitworth Library is a truly modern learning space with PC suites, group study rooms, silent study areas, access to specialist publications and much more. Based at the centre of the Peel Park campus, the library is open 24/7, all year round. In addition to Clifford Whitworth Library, there are several study spaces on campus.
Our library staff will support you with the extra study skills you need to succeed at postgraduate level whether you are moving straight on from undergraduate study or returning to education after a break.
Dr Ashraful Alam is a lecturer in Accounting & Finance and Programme leader for MSc in Finance at the University of Salford. Prior to joining Salford, he taught at the University of York (where he completed his PhD), Leeds Beckett University and University of Dhaka. His research interests revolve around R&D investment and governance in emerging markets, gender, climate change, fintech, institutions, accounting practices and accounting changes. He has published articles in R&D Management, The International Journal of Accounting, Technological Forecasting & Social Change, Journal of Business Research, Business Strategy and the Environment, and Journal of Applied Accounting Research.
If you’re planning on commuting, both our MediaCityUK and Peel Park campuses are perfectly placed. Whether by bus, rail, bike or car, we’re easily accessed from all over Greater Manchester, Lancashire and beyond.
What about after uni?
This is an advanced degree and can lead you to a wide range of career opportunities and roles.
On successfully finishing this programme, you will be equipped with the skills and understanding necessary to effectively and efficiently perform tasks in a managerial or consulting role. As well as your academic learning, you will develop your ability to work well in teams and independently, to evaluate critically, think creatively and communicate effectively with respect to issues in the industry; and to recognise good practice in the analysis, planning and management of international banking and finance products and services. You'll also develop an advanced level of understanding of research methods and their application to a wide range of international banking and finance problems.
The University of Salford grew out of the institutes of the late 19th century that provided a talented, technically proficient and professional workforce to support the UK’s rapidly growing industries. In the 21st century, this still holds strong. Whilst industry has changed significantly, the need for industry-focused education is equally relevant today.
We teach the skills that employers need and as a result, our graduates enjoy excellent international career prospects.
The curriculum across our postgraduate courses balances academic teaching and professional experience. Our industry partners give us their input into the curriculum so that the teaching reflects industry’s current and future needs and you develop the skills that employers want. The Industry Collaboration Project, which forms the final third of your study, is designed to give you real-world experience so you can apply the theory you have learned.
What you need to know
This programme is designed for graduates with an academic background that contains finance or economics and quantitative skills. You will ideally have an undergraduate honours degree in either a finance or economics subject or a good degree or equivalent in any discipline with good quantitative skills. Alternatively, sufficient and suitable work experience will also be considered.
You will be keen to develop your financial knowledge but also to develop your skills as an independent learner. You will supported and encouraged to become more articulate, more collaborative and more time conscious. Continuous formative feedback by lecturers will be available on a regular basis.
The MSc is the only route available for international students.
ENGLISH LANGUAGE REQUIREMENTS
International applicants will be required to show a proficiency in English. An IELTS score of 6.0 (no element below 5.5) is proof of this.
If the English language qualification is slightly below this level candidates may be able to take one of the many English courses available in the University.
A minimum 2:2 honours degree or equivalent in either a finance or economics subject
Other professional qualifications may also be accepted either in partial or complete fulfilment of entry requirements:
- Candidates with a 2:2 honours degree in non finance / economics disciplines will be considered on an individual basis if some level of finance and economics content formed part of the degree and you can demonstrate a high level of quantitative ability through your degree results.
- Candidates with a 2:2 honours degree in an unrelated subject area but have relevant work experience will be considered on an individual basis.
- Candidates with a 2:2 honours degree in an unrelated subject area but who have relevant professional qualifications will be given due consideration on an individual basis.
- If you are a mature candidate with significant finance industry experience or with relevant professional qualifications, you will be given due consideration on an individual basis.
Accreditation of Prior Learning (APL)
We welcome applications from students who may not have formal/traditional entry criteria but who have relevant experience or the ability to pursue the course successfully.
The Accreditation of Prior Learning (APL) process could help you to make your work and life experience count. The APL process can be used for entry onto courses or to give you exemptions from parts of your course.
Two forms of APL may be used for entry: the Accreditation of Prior Certificated Learning (APCL) or the Accreditation of Prior Experiential Learning (APEL).
|Type of study||Year||Fees|
|Full-time home/EU||2020/21||£7,920per year|
|Full-time international||2020/21||£14,670per year|
|Part-time||2020/21||£1,320 per 30 credit module|
You should also consider further costs which may include books, stationery, printing, binding and general subsistence on trips and visits.
Scholarships for international students 2020/21
International applicants to Salford Business School postgraduate master’s programme may be eligible for the Salford Business School Postgraduate International Excellence Scholarship worth £3,500, or the Salford Business School Silver Award worth £2,500.
For more information go to International Scholarships.
New programme for 2020: Salford Business School is delighted to present this new programme, aimed at recent graduates and professionals with a financial, IT or business background looking to study the latest developments in the financial world.