This course is accredited by the Charter Banker Institute. You can obtain the professional qualification of Associate Chartered Banker (subject to pass criteria).
You will also receive a digital badge awarded by the Principles for Responsible Banking Academy (PRBA), which has been established by the United Nations Environment Programme Finance Initiative (UNEP FI) in collaboration with the Chartered Banker Institute and the Deutsche Gesellshaft fur Internationale Zusammenarbeit (GIZ).
Overview
- Start date30 September 2024
- Duration1 year
- DeliveryTaught modules 60%, Thesis 40%
- QualificationMSc, PgDip, PgCert
- Ƶ typeFull-time
- CampusCranfield campus
Who is it for?
The Banking, Economics and Finance MSc has been designed for those individuals who wish to develop expertise across three inter-related subject fields. This MSc will equip students with the level of knowledge and skills required for positions in the financial industry as well as positions in the public sector and in consultancy services.
Why this course?
- Our Banking, Economics and Finance MSc is accredited by the Chartered Banker Institute. Upon successful completion of all the PG Diploma modules, the students will obtain the professional qualification Associated Chartered Banker.
- You will receive a digital badge awarded by the Principles for Responsible Banking Academy (PRBA), which has been established by the United Nations Environment Programme Finance Initiative (UNEP FI) in collaboration with the Chartered Banker Institute and the Deutsche Gesellshaft fur Internationale Zusammenarbeit (GIZ).
- You will have the opportunity to work on real-business problems set by our industry partners.
- This course will improve your critical awareness of the issues organisations face and will enhance your communication and research skills.
- Our Alumni will be engaged with the course to ensure that you are networking with employers throughout your time at Cranfield.
Informed by Industry
An external advisory panel informs the design and development of the course, and comprises senior management practitioners, reinforcing its relevance to the modern business world. Many of our faculty have held senior positions in industry and continue to engage with industry through consultancy and teaching. They are also supported by a team of international visiting industry speakers from influential financial organisations and professors who bring the latest thinking and best practice into the classroom.
Course details
This course comprises twelve core modules, which includes one 80 credit thesis. The taught modules will focus on the demands of the external market whilst developing your core knowledge and skills suitable for the dynamic banking, economic, and financial landscape. They will comprise a combination of three 20 credit modules and six 10 credit modules. Specifically, 20 credits focused on Economics content, 20 credits on Accounting and Finance, 60 credits on Banking content, and 20 credits are allocated to Data Analytics.
Course delivery
Taught modules 60%, Thesis 40%
Thesis
You will complete an evidence-led thesis within a banking/economics/finance setting and critically discuss it in a substantial project report, developing justified recommendations and/or action plans. This will enable you to carry out self-guided research and will enhance your analytical skills and critical thinking when producing the report.
Course modules
Compulsory modules
All the modules in the following list need to be taken as part of this course.
Contemporary Issues in Banking
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Aim |
The aims of this module are to equip students with the skills, techniques and knowledge to: |
Syllabus |
The core elements of the module are: |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Financial Markets, Regulation and Ethics
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Aim |
The course begins in Part I with an overview of the international financial markets, the major financial institution participants and product types. You will understand the roles, motivations and behaviours of market players including the importance of risk-taking. The role of regulation will be highlighted and examined in Part II. This will include the aims and structures of regulation. In Part III, you will examine, using a seminal textbook on business ethics the role and limitations of ethics in financial markets, ethical decision-making frameworks, and evaluate real world cases of lapses in culture and impact upon society and the markets. The challenge of identifying and promoting ethical behaviour will be acknowledged. |
Syllabus |
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Intended learning outcomes |
On successful completion of this module you should be able to:
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Business Accounting
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Aim |
The key objective for this course is that students develop a clear understanding of the basics of accounting. By the end of the course, students would be able to interpret accounting information with confidence and use it to make decisions and be able to communicate accounting numbers to others. |
Syllabus |
The course is split approximately 50/50 between Financial Accounting and Management Accounting. Financial Accounting covers the preparation and presentation of accounts by firms for outside parties such as shareholders or creditors. Such preparation is governed by certain fundamental principles and various rules. The first part of the lectures will cover accounting principles and provide understanding on how the key financial statements (income statement, balance sheet, cash flow statement) are prepared. The module also covers the interpretation of financial statements. This involves learning financial ratio analysis and interpreting the information contained in a full set of annual accounts. The last sessions are devoted to Management Accounting and cover internal accounting by managers for planning and control. Students will cover the nature and classification of costs, break-even analysis, allocation of overheads; preparing and using budgets, variance analysis. |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Digital Banking, FinTech, and Artificial Intelligence
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Aim |
The aim of the module is to enable you to critically evaluate the rapidly changing field of digital technology including artificial intelligence as it applies to the worlds of banking and financial services more generally. This will be achieved through developing a critical understanding of: The module aims to equip you with the knowledge and understanding to better manage digital technology-related decision-making within a banking context. |
Syllabus |
The core elements of the module are: |
Intended learning outcomes |
On successful completion of this module you should be able to:
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Sustainable and Green Banking
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Aim |
The module's primary goal is to increase your knowledge, comprehension, and aptitude for applying the fundamental ideas and practices of green and sustainable banking. The module will delve deeper into the development of green and sustainable products and services in the banking and allied sectors; raising awareness of the role of the stakeholders in the banking industry in supporting the transition to a low-carbon world; and increasing the student's awareness and understanding of climate change and its impacts. |
Syllabus |
The core elements of the module include: |
Intended learning outcomes |
On successful completion of this module you should be able to:
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Corporate Finance
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Aim |
This core module provides a foundation in the essentials of corporate financial management. The course focuses on three principal aspects of corporate finance: the investment decision; the cost of capital; and the financing and payout decisions. Based on recent theoretical and empirical developments, the course explores the framework in which corporations make their financial and investment decisions. |
Syllabus |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Financial Data Analytics
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Aim |
Finance is a highly quantitative subject and this core programme provides the relevant mathematical and statistical training necessary to be able to conduct appropriate empirical studies and apply theoretical financial models in practice. |
Syllabus |
The module will cover probability theory, sampling and estimation, hypothesis testing, regression analysis, and panel analysis. |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Economics for Financial Markets
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Aim |
To introduce the concepts and techniques of Microeconomics (e.g. market analysis, price theory, rationality) and Macroeconomics (e.g. inflation, exchange rates and interest rates) in a way which provides a core foundation for later applied financial analysis in a range of other core and elective courses on the MSc in Finance and Management and MSc in Investment Management. In the Context of the Financial markets, it is imperative that students be aware of the fundamental principles and concepts pertaining to Economic Theory per se. Ƶing economics not only does it provide knowledge for making decisions but it also offers a tool with which to approach questions such as the desirability of a particular financial investment opportunity, the benefits and costs of alternative careers, or the likely impacts of public policies. |
Syllabus |
The initial few sessions are spent on discussion of the concept of equilibrium as it applies to the micro and macro structures of a broad range of financial markets. In the next four sessions, an understanding of choice theory and rational economic decision making as it applies to the levels and structure of prices of assets in a broad range of financial markets is developed. Finally, remaining sessions are devoted to discussion of the concepts and ideas in macroeconomics which have a direct relevance to financial markets. Particularly, discussion is centered on understanding of monetary economics and the institutional context to which it applies. Discussion of structure of money and capital markets rounds up this module. |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Responsible Banking
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Aim |
The aims of this module are to equip students with the skills, techniques and knowledge to: |
Syllabus |
The core elements of the module are: |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Applied Research Methods
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Aim |
This module is designed to provide participants with the required skills for structuring their research projects including conceptualising research questions and writing literature reviews. It uses the positivist approach to finance and introduces the need for and validity of empirical models. The module also imparts a greater understanding of the empirical methods in finance and develops important skills in the assessment, analysis and interpretation of published financial research. |
Syllabus |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Elective modules
One of the modules from the following list needs to be taken as part of this course
Valuation and Financial Modelling
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Aim |
A good understanding of techniques of valuation of firms as well as the different securities issued by firms is vital for managers and financial analysts. This understanding has a bearing on both financing decisions (issue of equity or debt) and investment decisions (identifying securities for inclusion in a portfolio, acquisitions, buy-backs, divestitures etc.). In addition, building sound financial models is critical for understanding and communicating valuations. This course provides the framework for valuing equity and firms as well as financial modelling to aid decision making. |
Syllabus |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Private Equity
Aim |
Private equity differs from public equity, which is generally the focus in corporate finance. Private equity has become a major source of capital for innovation, growth and corporate restructuring. To succeed as a PE professional, one needs to embrace and tackle various challenges relating to the financing of the company, its operations and the entrepreneurial and uncertain nature of business venturing. The module will cover the nature of and rationale for PE investing, the spectrum of PE activities and the potential conflicts among stakeholders. Another focus will be on value creation programmes to generate PE fund returns. |
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Syllabus |
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Intended learning outcomes |
Upon successful completion of this module, a student will be able to:
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Mergers, Acquisitions and Restructuring
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Aim |
The module focuses on transactions significantly affecting the corporation’s assets, liabilities and/or equity claims and stresses the economic motives for undertaking them. Transactions are examined from the perspective of the corporation (e.g., firm managers), from the perspective of capital markets (e.g., investors, stockholders, creditors) as well as from the perspective of the society. The module integrates various technical skills learned earlier in the MSc programme such as accounting, corporate finance and strategy. |
Syllabus |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Fixed Interest Securities and Credit Risk Modelling
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Aim |
The global bond market exceeds $100 trillion which is more than the world’s stock markets. The market has become increasingly quantitative due to the proliferation of new products. Combined with increased volatility of financial prices and exposure to new sources of risk, there are now greater risks and opportunities for fixed income portfolio management. This module provides the participants with a solid grounding in the mechanics of fixed income markets and introduces them to bond portfolio management techniques. |
Syllabus |
The module will cover: |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Investing for Environmental and Social Impact
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Aim |
This module focuses on environmental, social and governance (ESG) criteria into financial decisions. It provides students with insight into how impact investors seek to generate environmental and social impacts in addition to financial returns. Module targets students seeking careers in financial services who want to better understand the interaction of capital markets and policy issues. The class will draw upon principles of finance, public policy and investment management to evaluate specific cases and investment tools in areas such as environmental markets and climate change, public finance and sustainable development. Students will be exposed to both traditional and alternative risk management approaches and investment theory frameworks, as well as a range of case studies on the role and impact of institutional investors, banks, financial supervisory authorities and governments in aligning financial markets with ESG goals. |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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International Finance
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Aim |
This module aims to develop a solid understanding of foreign exchange and interest rate risks that multinational corporations encounter. The focus is on developing insights on how and why these risks arise and what can be done to manage these risks. The other aim is to provide students with commonly used applications of derivatives in managing exchange rate and interest rate risks. |
Syllabus |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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International Public Finance and Taxation
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Aim |
This module aims to train students in both theory and applications in the field of public finance and taxation. The purpose of the module is to understand the role of the government through expenditure and taxation, as well as develop an idea on topics such as externalities and the political economy. It will expose students to frontier research on the theory behind the design of various public policies relating to the spending, taxing, and financing activities of Government. The module addresses the fundamental questions of how decisions should be made; whether tasks should be financed through the public sector or the private sector budgets? It therefore deals with public goods, and policies with respect to external effects. |
Syllabus |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Keeping our courses up-to-date and current requires constant innovation and change. The modules we offer reflect the needs of business and industry and the research interests of our staff. As a result, they may change or be withdrawn due to research developments, legislation changes or for a variety of other reasons. Changes may also be designed to improve the student learning experience or to respond to feedback from students, external examiners, accreditation bodies and industrial advisory panels.
To give you a taster, we have detailed the compulsory and elective (where applicable) modules which are currently affiliated with this course. All modules are indicative only and may be subject to change for your year of entry.
Teaching team
The programme is taught by faculty experts who have extensive industry experience and who regularly work with major global financial services organisations, multinationals, and government agencies around the world. The Course Director for this course is Dr Lakshmy Subramanian.
Accreditation
The Banking, Economics and Finance MSc is accredited by the . Upon successful completion of all the PG Diploma modules, the students will obtain the professional qualification Associated Chartered Banker.
Cranfield School of Management is one of an elite group of business schools worldwide to hold triple accreditations from:
- .
Your career
The Careers and Employability Service offers a comprehensive service to help you develop a set of career management skills that will remain with you throughout your career.
We expect that, following completion, you will be able to progress faster in your career, particularly within the financial sector industry. This course will improve your employability prospects by being interdisciplinary and internationally focused. Moreover, by working with senior professionals in the relevant areas of business, we will ensure that the course stays relevant to industry and prepares you with the right skills to address the latest challenges in banks, businesses, government organisations and consultancies.
How to apply
Our students do not always fit traditional academic or career paths. We consider this to be a positive aspect of diversity, not a hurdle. We are looking for a body of professional learners who have a wide range of experiences to share. If you are unsure of your suitability for our Banking, Economics and Finance MSc programme we are happy to review your details and give you feedback before you make a formal application.
To apply you will need to register to use our online system. Once you have set up an account you will be able to create, save and amend your application form before submitting it.
Application deadlines
There is a high demand for places on our courses and we recommend you submit your application as early as possible.
Entry for September 2024
- Applications from international and European students requiring a visa to study in the UK must submit their application by Friday 12 July 2024.
- There is no application deadline for UK applicants, but places are limited, so we recommend you submit your application as early as possible.
Once your online application has been submitted together with your supporting documentation, it will be processed by our admissions team. You will then be advised by email if you are successful, unsuccessful, or whether the course director would like to interview you before a decision is made. Applicants based outside of the UK may be interviewed either by telephone or video conference.
Read our Application Guide for a step-by-step explanation of the application process from pre-application through to joining us at Cranfield.