Finance and Risk Management MSc

Course structure

The course is composed of three phases:

• Phase 1 teaches the core subjects of finance, economics and research methods

• Phase 2 introduces specialist modules in finance and risk management

• Phase 3 is the dissertation that draws together the learning from the whole of the programme, allowing you to develop your research skills and capacity for critical analysis while creating a specialisation in a particular field of finance and risk management

All modules on the course involve both taught sessions and guided independent study. For a typical module, approximately 30% of the total hours comprise taught activity, 10% is guided study and supervision, and the remainder is independent study.

Syllabus

Core modules

• Economics of Financial Markets
• Financial Theory and Practice
• Research Methods for Finance and Economics
• Dissertation

Specialisms modules

• Financial Derivatives
• Financial Risk Management

Option modules (choose one)

• Advanced Financial Mathematics
• Applied Econometrics and Financial Time Series Analysis
• Banking and Financial Institutions
• Emerging Financial Markets
• Financial Regulation: Economic Principles and Institutional Frameworks
• International Portfolio Management
• Issues in Financial Accounting
• Issues in Management Accounting
• Market-making and Investment Strategies
• Money, Interest Rates and Banking

Core modules will give you practical background knowledge in key finance subjects. From term 3 you will be able to tailor your course through a choice of specialisms and option modules.

Completion of your final project (dissertation) takes place throughout the summer after teaching finishes. You submit your project in October and receive your MSc award in December.

Modules in focus

Financial Risk Management

This module introduces you to the most recent developments in the area of risk analysis and risk management. Using the powerful risk management tool Value at Risk (VaR), you will learn to calculate VaR using a number of different methods, and examine the usefulness of VaR against other risk management approaches. You will examine the wide range of financial risks that corporations are exposed to and how to manage those risks.

• Types of risk
• The methodology of VaR
• Parametric approaches to the calculation of VaR
• Mapping and the Riskmetrics approach
• Historical simulation, Monte Carlo simulation, stress testing
• Developments in the analysis and management of credit risk
• Analysis of non-standard risks such as liquidity, volatility, operational, insurance and weather
• Use of risk measurement techniques for performance measurement
• The relationship between developments in financial regulation and risk management
• Integrated risk management

Financial Derivatives

This module focuses on the application of derivatives securities in risk management and financial engineering. You will learn how derivative securities can be used to deliver a desired payoff, or to manage the risks of a market exposure. The module covers the role of financial engineering and risk management in the banking crisis and the latest post-crisis developments.

• Review of fundamental concepts in finance
• Basic tools of financial engineering
• Forwards and futures
• Swaps and repos
• Plain vanilla and exotic options
• Risk neutral pricing
• Static and dynamic replication of a portfolio
• Structured products
• Credit default swaps
• Financial asset price dynamics in theory and practice
• Derivatives and risk management: hedging market exposures
• Regulatory requirements and VaR
• Financial innovation and the crisis of 2007–8
• Risk management and the financial crisis

Dissertation

In the final phase of the course, you will complete a dissertation relating to finance and risk.

The dissertation will be 10,000–15,000 words long. It will address an accounting problem that requires you to undertake research leading to practicable recommendations based on sound analysis and judgement. You will finalise the topic in consultation with the course leader and other specialists in financial risk research.

You will receive help from your dissertation supervisor, who will monitor and support your progress. The dissertation is submitted in October.

Real-time trading room

As part of your course you will have access to modern computing facilities and specialist computing packages, for students on the Market-making and Investment Strategies module this includes access to our real-time trading room, fed by up-to-the-minute data from Reuters. 

One of a handful of such facilities across the UK, our trading room sessions are supervised by guest traders and provide you with the opportunity to apply your skills to real markets and real data, and make use of simulation software to recreate the pressure of a trading floor. 

We also invite guest traders to discuss curriculum topics, pass on their trading experience and supervise trading sessions.

Student trading society 

We highly recommend students join our thriving Student Investment and Trading Society, which is established and run by students for the purpose of organising social and networking events, arranging talks by visiting industry experts and facilitating annual trading competitions against other universities. 

Learning support

Experienced, professionally qualified lecturers and small class sizes will ensure your learning needs are supported. Online learning tools and libraries also ensure academic journals, e-books, business articles and other resources are available to you 24/7, both for use at the university and at home. 

You will also have access to our Careers Service, including CV checking, mock interviews and advice on setting up your own business. 

Staff profile

Robert Hayward, Course Leader

Robert has 15 years' experience of working in the financial services sector, with responsibility for producing economic forecasts and capital market strategies for traders and bank customers.

He has an MSc in Economics and a PhD on Speculation in the Foreign Exchange Market. He joined the University of Brighton in 2011 and his main interests are capital markets, foreign exchange and behavioural finance.

Meet the rest of our finance team on our blog.

Robert Hayward, Course Leader

International equivalencies

We can help you meet our English language or academic entry requirements.

Fees

Scholarships, bursaries and loans

We offer a range of scholarships for postgraduate students. Bursaries and loans may also be available to you.

Find out more about postgraduate fees and funding.

Info

The fees listed here are for full-time courses beginning in the academic year 2019–20.

Further tuition fees are payable for each subsequent year of study and are subject to an annual increase of no more than 5% or RPI (whichever is the greater). The annual increase for UK/EU students, who are subject to regulated fees, will increase no more than the statutory maximum fee.

You can find out more about our fees in the university's student contract and tuition fee policy (pdf).

The tuition fee you have to pay depends on a number of factors including the kind of course you take, and whether you study full-time or part-time. If you are studying part-time you will normally be charged on a pro rata basis depending on the number of modules you take.

What's included in the fee?

When costs such as health or DBS checks, or use of specialist materials are incurred as a mandatory requirement of the course they are included in your tuition fee.

You may incur additional costs depending on the optional modules or activities you choose. The cost of optional activities is not included in your tuition fee and you will need to meet this cost in addition to your fees. Before you apply check with the school that provides your course using the contact details in the Find out more tab (at the end of this page) for advice about what is included and what optional costs you could face so you can budget accordingly.

See our finance pages for advice about funding and scholarships as well as further information about fees and advice on international and island fee-paying status.

Location

Campus where this course is taught

Accommodation

Maps

Accommodation

University building

Moulsecoomb campus map