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1 | ACADEMIC QUALITY TEAM | |||||||||||||||
2 | Programme Specifications 2023-24 | |||||||||||||||
3 | Revised February 2023 | |||||||||||||||
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6 | Programme Title | MSc. Financial Economics | ||||||||||||||
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8 | This document applies to students who commenced the programme(s) in: | 2023 | Award type | MSc | ||||||||||||
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10 | What level is this qualification? | 7(M) | Length of programme | 1 Year | ||||||||||||
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12 | Mode of study (Full / Part Time) | Full Time | ||||||||||||||
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14 | Will the programme use standard University semester dates? | yes | For York Online programmes, will standard dates for such programmes be used? | yes | ||||||||||||
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16 | Awarding institution | University of York | Board of Studies for the programme | |||||||||||||
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18 | Lead department | Department of Economics and Related Studies | Other contributing departments | School for Business and Society and School of Mathematics | ||||||||||||
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20 | Language of study and assessment | English | Language(s) of assessment | English | ||||||||||||
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22 | Is this a campus-based or online programme? | Campus based | ||||||||||||||
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24 | Partner organisations | |||||||||||||||
25 | If there are any partner organisations involved in the delivery of the programme, please outline the nature of their involvement. You may wish to refer to the Policy on Collaborative Provision | |||||||||||||||
26 | N/A | |||||||||||||||
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28 | Reference points | |||||||||||||||
29 | Please state relevant reference points consulted in the design of this programme (for example, relevant documentation setting out PSRB requirements; the University's Frameworks for Programme Design (UG or PGT); QAA Subject Benchmark Statements; QAA Qualifications and Credit Frameworks). | |||||||||||||||
30 | Consideration of the QAA benchmark statements for Finance and Economics. | |||||||||||||||
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32 | Credit Transfer and Recognition of Prior Learning | |||||||||||||||
33 | Will this programme involve any exemptions from the University Policy and Procedures on Credit Transfer and the Recognition of Prior Learning? If so, please specify and give a rationale | |||||||||||||||
34 | N/A | |||||||||||||||
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36 | Exceptions to Regulations | |||||||||||||||
37 | Please detail any exceptions to University Award Regulations and Frameworks that need to be approved (or are already approved) for this programme. This should include any that have been approved for related programmes and should be extended to this programme. | |||||||||||||||
38 | N/A | |||||||||||||||
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40 | Internal Transfers | |||||||||||||||
41 | Please use the boxes below to specify if transfers into / out of the programme from / to other programmes within the University are possible by indicating yes or no and listing any restrictions. These boxes can also be used to highlight any common transfer routes which it would be useful for students to know. | |||||||||||||||
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43 | Transfers in: | Yes - if the admission criteria is the same for the programme. | Transfers out: | Yes - if the admission criteria is the same for the programme. | ||||||||||||
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46 | Statement of Purpose | |||||||||||||||
47 | Please briefly outline the overall aims of the programme. This should clarify to a prospective student why they should choose this programme, what it will provide to them and what benefits they will gain from completing it. | |||||||||||||||
48 | The MSc Financial Economics gives students a set of analytical and technical skills to address problems in both economics and finance, preparing them for a career in either the public or private sectors in a role with a strong financial economics research component (for example, in a technical policy role in a national Treasury department or in financial regulatation) or for a PhD in Finance or Economics. Students will be taught by world leading experts, many of whom are engaged in cutting-edge research which also informs economic and financial policy, in a range of relevant fields in a way that reflects the interdisciplinary approach that the University of York takes to the study of finance. The programme will expand students' prior knowledge and skills in economics and give them a rigorous understanding of the theory and econometrics of financial markets and economics. They will also learn how the operation of the financial economy is related to the real economy. This understanding is achieved through high quality training in relevant theory, concepts, methods and practice, bringing the student closer to the current research frontier. While the emphasis is on core knowledge and skills, it provides the opportunity to specialize through a significant individual research disseration in a particular area of economics or finance such as corporate finance, investments, asset pricing, microeconomics and macroeconomics. Students will also gain a range of employability and personal transferrable skills that can be directly applied within a research career, and be required to reflect on ethical and sustainable aspects of decision making, placing the programme firmly within the Public Good mission of the wider University. | |||||||||||||||
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57 | If there are additional awards associated with the programme upon which students can register, please specify the Statement of Purpose for that programme. This will be most relevant for PGT programmes with exit awards that are also available as entry points. Use additional rows to include more than one additional award. Do not include years in industry / abroad (for which there are separate boxes). | |||||||||||||||
58 | Exit Award Title | Is the exit award also available as an entry point? | Outcomes: what will the student be able to do on exit with this award? | Specify the module diet that the student will need to complete to obtain this exit award | ||||||||||||
59 | Masters (MSc) Financial Economics | Entry and Exit | All eight PLOs to be completed | Modules normally Level 7(M). At least 150* credits at Level 7(M); maximum 30 credits at Level 6(H) | ||||||||||||
60 | Post Graduate Diploma (PGDip) Financial Economics | Exit Only | PLO 1 - 6 and 8 to be compeleted | Modules normally Level 7(M). At least 90*credits at Level 7(M); maximum 30 credits at Level 6(H)$ | ||||||||||||
61 | Post Graduate Certificate (PGCert) Financial Economics | Exit Only | PLO 1 - 6 and 8 to be compeleted | Modules normally Level 7(M). At least 40 credits at Level 7(M); maximum 20 credits at Level 6(H)$. | ||||||||||||
62 | *Note: these award requirements reflect the minimum requirements set out in the QAA’s Framework for Higher Education Qualifications. For programmes using the 20-credit common modular currency, the expectation for design would be at least 160 credits at Level 7(M) for Masters and at least 100 credits at Level 7(M) for Postgraduate Diplomas. $ See also 3.5 below. | |||||||||||||||
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64 | Programme Learning Outcomes | |||||||||||||||
65 | What are the programme learning outcomes (PLOs) for the programme? (Normally a minimum of 6, maximum of 8). Taken together, these outcomes should capture the distinctive features of the programme and represent the outcomes that students progressively develop in the programme and achieve at graduation. PLOs should be worded to follow the stem 'Graduates will be able to...' | |||||||||||||||
66 | 1 | Explain and understand the methods of logical and mathematical reasoning used by economists, finance professionals and researchers to assess and manage risk, price financial assets and make financial decisions, drawing on key analytical approaches and understanding of the major current research problems in so doing. | ||||||||||||||
67 | 2 | Identify the research methods and models relevant to particular problems in economics and finance in learned journals and other media with the aid of bibliographical databases, summarising and synthesising this body of knowledge to thoroughly understand the limitations of such models and how an allowance can be made for these weaknesses in practice. | ||||||||||||||
68 | 3 | Demonstrate a thorough understanding of the techniques of economics and finance and the ability to use them, by formulating rigorous and well-reasoned analysis of analytical problems. | ||||||||||||||
69 | 4 | Use developed digital skills to locate, compile and present economic and financial data and demonstrate a thorough appreciation of their strengths and weaknesses. | ||||||||||||||
70 | 5 | Formulate economic or financial models in a suitable form for data analysis, selecting suitable state-of-the-art statistical, econometric and computer-based techniques to examine these models and provide robust economic and financial forecasting counter-factual analysis to inform policy makers, private sector clients and/or other academic researchers. | ||||||||||||||
71 | 6 | Produce effective written communications which address the concerns of the intended audience. To articulate effectively arguments which are supported by analytical reasoning and, where necessary, by data-based evidence. | ||||||||||||||
72 | 7 | Formulate a research proposal, identifying a testable hypothesis, select the methodology appropriate to test it and carry out the research efficiently and independently to a deadline, and to effectively communicate persuasive findings. | ||||||||||||||
73 | 8 | To display a broad range of personal transferable skills including the ability to work positively within a group and act inclusively within a diverse academic community | ||||||||||||||
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75 | Diverse entry routes | |||||||||||||||
76 | Detail how you would support students from diverse entry routes to transition into the programme. For example, disciplinary knowledge and conventions of the discipline, language skills, academic and writing skills, lab skills, academic integrity. | |||||||||||||||
77 | This programme is a specialised programme focused on developing those graduates with prior experience of economics. Subsequently the programme has entry requirements established to allow entry for graduates with an upper second-class overall grade in an undergraduate degree specialising in economics. The further requirement stated in the entry criteria is that the applicant should have evidence of past quantitative skills. This should be evidenced by a module in the second or third years of a degree which has a strong quantitative element. This might include yet not exclusively statistics, econometrics, mathematics, engineering, physics or a similar quantitative field. | |||||||||||||||
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82 | Inclusion | |||||||||||||||
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84 | Please confirm by ticking the box on the right that the design, content and delivery of the programme will support students from all backgrounds to succeed. This refers to the University's duties under the Equality Act 2010. You may wish to refer to the optional Inclusive Learning self-assessment tools to support reflection on this issue. | |||||||||||||||
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86 | Employability | |||||||||||||||
87 | Please give a brief overview - no more than 5 sentences - of how the programmes helps develop students' employability. Your Faculty Employability Manager can help reflection on this issue. This statement will be used by Marketing as the basis for external content with respect to employability. | |||||||||||||||
88 | This course will provide you with the theoretical knowledge and technical skills needed for financial roles in organisations around the world. This course will help you acquire or develop the analytical and decision-making skills in economics and finance you need for a successful career in a wide range of organisations. This course will help build your qualifications for a career in economics, accountancy, finance or financial management and can act as an ideal basis for progression to a PhD. The programme can also act as a stepping stone to a financial position in, for example in economics, finance, financial regulation, financial analysis, investment management or corporate finance. The skills that you will develop are in demand far beyond the financial services industry and other career opportunities would lie in many commercial activities. | |||||||||||||||
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94 | [For Undergraduate and Integrated Masters Programmes Only] | |||||||||||||||
95 | Are you offering any variations of this programme, such as additional years abroad or industry? | |||||||||||||||
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97 | Year abroad | Will the year abroad programme be available directly via UCAS; for students to transfer in having entered the main programme; or both? | Inappropriate | |||||||||||||
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99 | Year in industry | Will the year in industry programme be available directly via UCAS; for students to transfer in having entered the main programme; or both? | Inappropriate | |||||||||||||
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