入学要求 Requirement：
学术要求： A 2.1 degree in Economics; Finance; Mathematics; Statistics; Physics; Engineering; or an equivalent qualification from overseas. All applicants would be required to have a minimum background in mathematics or statistics and economics or finance. However a strong background in mathematics or statistics could be a substitute for the required background in economics and finance.
英语要求：• IELTS: 6.5 (min 6 in all areas)
• TOEFL Paper test: 580 (TWE 4.5)
• TOEFL Internet test: 92 (R20, L20, S20, W20)
学费 Tuition Fee：2011/2012 £13,860
课程特征 Course Features：
The course will allow students whose career choices are likely to lie with financial institutions or in financial management with an international flavour to develop the relevant analytical tools and techniques necessary for such a career. The course should also be of interest to applicants who are already practitioners in the international financial field.
课程内容 Course Content ：
Core
Money and Banking
This unit explores the links between money, financial intermediaries and the economy. In particular, the unit seeks to address the following questions: Can monetary policy be used to affect real economic variables? What are the possible sources of non-neutrality of money? How do monetary authorities conduct monetary policy? Why do capital markets sometimes fail to allocate credit efficiently? Can banking institutions improve the efficient allocation of credit? The unit investigates whether, in the light of recent banking failures, there is scope for tighter regulation and/or supervision. The latest developments in international banking are also discussed.
Modelling Financial Decisions and Markets
This unit provides a firm foundation in the theory and practice of econometric modelling of financial decisions and markets. The first half of the course is mainly theoretical, with examples of academic and professional applications used to illustrate and elucidate; the second half reverses the emphasis. The emphasis throughout is on the rationale of the econometric methods analysed and their use in practical applications.
Advanced Financial Theory and Corporate Policy
This unit provides a rigorous grounding in the theory and practice of corporate finance. This is achieved by giving particular attention to testable propositions and to the literature which has developed empirical tests of fundamental elements of modern finance theory. In particular, this module provides a thorough understanding of the three major decisions of corporate finance: the capital investment decision, the capital structure/financing decision and the dividend decision, within the framework of an uncertain operating environment. Both normative and positive aspects of the theory are examined, together with the supporting descriptive and empirical evidence. The emphasis is upon applications of the principles.
Dissertation
Recent examples of dissertations by students taking this course include:
•Capital flows and the stability of the financial system
•Factors that affect interest rate swap spreads; evidence from the UK market
•Testing the long run validity of purchasing power parity using black market exchange rates
Elective (two from)
Financial Engineering
This unit covers the theory and practice of financial engineering, with an emphasis on the pricing and hedging of derivative securities. The contents will encompass the definitions of the major classes of derivative instruments (futures, options, swapts), their use in complex deal structuring, their uses in risk management, and the mathematical theory of their valuation. The course will include coverage of interest rate modelling and exotic options.
Financial Accounting
This unit provides a critical review of the principles that underpin accounting standards in the UK, at the Financial Accounting Standards Board in the US, and at the International Accounting Standards committee. It also examines the limitations of financial reporting in capturing all the aspects of company performance; the role of accounting information in the valuation of enterprises; and the role which a common set of accounting standards can play in international business.
Development Finance
This unit provides an in-depth examination of the finance-growth relationship. Theoretical models and empirical evidence relating to the role of financial factors on the growth process will be discussed. The concepts of financial repression / liberalisation and the role of financial sector policies in promoting the development of the financial sector itself as well as savings, investment and growth will be examined with particular emphasis on developing countries.
International Finance
This unit analyses the international financial system. In particular, it considers the operation of foreign exchange markets, including forward, futures and option markets; the main theories of exchange rate determination and speculative attacks; and issues on foreign exchange risk management and international capital budgeting.
教学与评估 Teaching and Assessment：
All modules are assessed by a combination of coursework and final examinations. Students who successfully complete the taught part of the course can proceed to the dissertation stage. Students are expected to work on their dissertation in the summer and to submit the final draft in mid-September.