MSc Business Finance

Queen Mary, University of London MSc Business Finance

Welcome

Dear Applicant, This programme aims to train you in areas of finance which have major practical and theoretical interest in relation to all aspects of business finance. Such areas include investment analysis, valuation, corporate finance issues such as optimal capital structure and mergers and acquisitions, derivatives, finance microstructure and taxation.

The programme puts considerable emphasis on the theory and practice of corporate finance in all its guises. This emphasis is highlighted by the presence of a number of dedicated basic and advanced corporate finance modules. The programme is intended to give professional postgraduate training to students wishing to pursue careers in business finance in private and public companies, government and the City, as well as, any career where knowledge of business finance, and finance in general, is of relevance.

Those registering for the MSc in Business Finance take four core modules in the first semester and two core modules plus two options in the second semester. In order to reflect the practical and applied side of this programme the School organises a number of extra optional modules that aim to provide further practical training to students, whose subject matter changes from year to year. These modules are often taught by City practitioners, who provide an insider's view on topics of interest to the financial community.

Daniela Tavasci Business Finance

Contents

02 The modules 05 Staff 08 Careers 11 Graduate employment 13 Alternative MSc programmes 14 Accommodation and application procedure 16 The programme

The information given in this brochure is correct at the time of going to press.

The College reserves the right to modify or cancel any statement in it and accepts no responsibility for the consequences of any such changes.

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The programme

Programme description

Research strength

The course is intended to give professional postgraduate training to students wishing to pursue careers in the City, Government or elsewhere in the private banking sector.

The School of Economics and Finance is committed to excellence in research and teaching. Our expertise covers three key areas: economic theory, econometrics and finance, and applied economics. We regularly publish the results of our research in leading economic journals.

The programme brings the latest advances of applied research and is specifically designed to impart a thorough knowledge of market-based finance, risk and asset management techniques for traditional and alternative investments, capital markets valuation and corporate restructuring decisions.

It is designed so as to offer flexibility and progressive specialisation to educate experts the industry is requiring and includes six core modules that are the necessary foundations to master business finance and state-of-the-art techniques. Then, students will opt for one of the two open elective; related to Management or Trading. The main objective of the electives is to go further in academic and applied expertise, allowing the students to tailor the course curriculum to their specific needs and career choices.

This course provides a rigorous training in Corporate Finance coupled with a strongly vocational approach. As well as offering advanced study in all related key areas, this course is presented with a fully integrated careers programme and extensive industry links that aim to maximise students' employment prospects.

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We combine an excellent international reputation with a friendly and informal atmosphere.

The School of Economics and Finance performed exceptionally well in the 2008 Research Assessment Exercise (RAE), ranked in the top 10 economics departments in the UK. See: www.econ.qmul.ac.uk/news/rae2008/ It has also preformed extremely well in the 2011 National Student Survey. The School is 6th in the country and top among London Research Universities.

Many members of our School have recently received academic grants, and provided consultancy and advisory services to primary financial institutions such as the UK and Italian Treasury, the ONS, the Bank of England and many others.

Applied learning The School has developed and nurtured collaborations with a number of public and private institutions. This provides plenty of opportunity for student placements and research co-operation.

We also organise a number of additional, optional modules, the topics of which vary from year to year. These modules are taught by City professionals, who are well-placed to give an insider’s view on issues of interest to the financial community.

This year planned optional modules include an electronic trading module, a module on technical analysis, modules on computational finance and a module on applied portfolio management. All of these are taught by top City practitioners.

Postgraduate resources You will have access to excellent computing facilities, offering an ideal environment in which to practise applied analysis. Standard software packages for data analysis, simulation, and word processing are available, including GAUSS, Eviews, PCgive, RATS, Microfit, and Stata.

We also provide full subscription access to a wide variety of financial databases such as Datastream, CRSP and Bankscope. We have access to 12 dedicated Bloomberg terminals.

Teaching style Modules are taught in a three hour block format.

The first two hours deliver the core theoretical and technical concepts; these are then applied in the remaining hour. Classes will be scheduled late afternoon/evening where possible to accommodate work commitments.

Dissertation Over the summer term, you will write a 10,000 word dissertation. Under supervision, you will learn how to undertake applied analysis, run estimations and formulate and test hypotheses.

Examples of student dissertations include: Testing the Purchasing Power Parity between China and US; Financial Market Imperfections and the Degree of Financing Constraints in Transitional Economy: Evidence from Pakistan Market; Financial Conservatism in the UK Financial Market; Exchange Rates Movements and Corporate Investment.

Assessment The grade for each module is assessed through coursework, which counts for 25 per cent of the final marks, along with a written exam in May. The 10,000 word dissertation written over the summer counts for four modules.

Pre-semester modules These pre-semester modules in mathematics and statistics take place over two weeks in September. They are especially designed for students who want to review concepts such as statistical distributions and matrix algebra.

You will sit exams at the end of modules.

Duration You will be studying over a 12 month period, beginning in September with the maths and statistics pre-semester modules. You can also study part-time over a 24 month period.

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The programme (cont)

Graduate profile: Damien Regnier Studied: MSc Finance and Investment.

Currently: Working for JP Morgan Chase (London) on Convertible Bonds Trading desk as a permanent Analyst.

During the first year I will focus on the Quantitative side of the Trading, as Convertible Bonds are pretty complex, then I will go to the trading floor proper.

Why did you choose Queen Mary?

After my studies in Mathematics in France in a ‘Grande Ecole’ at Masters level, I was looking for a one-year postgraduate degree that would help me to find a job in a big US investment bank. Due to my background, an MSc in Finance was the best available choice. The choice for Queen Mary’s MSc Finance and Investment was a no¬brainer: It was located in London, ten minutes from the City, it was well balanced between economics subjects like

Corporate Finance and technical ones like Financial Derivatives and last but not least it included some quite ambitious lectures on Behavioural Finance and Empirical Finance – not to mention that the School of Economics was very well ranked in the UK! What did you gain from your time at Queen Mary?

Good facilities, including reasonably priced central London accommodation and the language school, which greatly helped me to enjoy my time in London. I also met some really interesting people during this year, and I still meet up with some of them from time to time as many have been hired in the City. Lastly, I use the knowledge I gained during my MSc on a daily basis: I think that is the best proof that the programme is well structured!

What are your career plans in the next five years?

As I have just started I’m still learning... a lot!

I will hopefully be able to start trading towards the end of this year... and then well I don’t know, but I’m pretty confident!

Programme Timetable – Course structure Pre-Sessional

Semester A

Semester B

2-week introductory maths and statistics course.

Commercial & Investment Banking

Behavioural Finance

Investment Management

Advanced Corporate Finance

Business Finance

Option

Quantitative Techniques

Option

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The modules

ECOM049 Commercial and Investment Banking

ECOM050 Investment Management

In this module you will study the role of money in the macroeconomy, the behaviour of interest rates, banks and other intermediaries, the regulation of both money markets and the banking system and the operations of central banks. The focus is on the practical aspects of money and banking as experienced by practitioners in financial institutions.

This offers a high level introduction to concepts related to investment analysis. Topics treated include valuation of real and financial securities; the principles of investment; valuation of risky securities; portfolio analysis and bond portfolio management; financial market equilibrium; the CAPM and APT models; capital budgeting and risk; market efficiency.

ECOM037 Quantitative Techniques

ECOM051 Business Finance

This module aims to provide you with the necessary tools for writing and estimating simple econometric models in the context of financial quantitative analysis. Basic statistical tools needed for understanding and using financial models are introduced and explained. We will assume you have a minimal knowledge of econometrics and statistics.

ECOM038 Behavioural Finance The purpose of this module is to develop students’ understanding of the theoretical underpinnings of behavioural finance, the empirical research surveyed in this area and the implementation of investment strategies based on the behavioural finance approach. To compare and contrast the assumptions behind modern financial economics with behavioural finance.

This module aims to develop an understanding of how firms raise external finance and design their capital structure. We also look at how real investments are valued and how corporations interact with financial markets. In particular, we will be looking into how firms make financial decisions. We will examine the assumption that a firm’s cash flows are exogenous with respect to financial decisions. Also studied are the Modigliani-Miller theorems stating which conditions make capital structure irrelevant, and derive the optimal debt/equity mix in the presence of taxes and costly bankruptcy. The rest of the module addresses the issue of how a firm’s financial and governance structure affects its value once information problems between firms’ insiders and investors are taken into account.

Advanced Corporate Finance This module will address the both the theoretical and practical questions of such issues as; how to value companies, recapitalisation, bankruptcy and distress, optimal capital structure, corporate Queen Mary, University of London 05

The modules (cont)

liquidity, raising equity and debt capital, payout policy, investment under constraints, and the use of decision trees, simulations, and real options.

At completion a student will be able to challenge existing frameworks and techniques, and competent to apply intricate corporate finance tools and complex valuation techniques comprehend how the taxation, debt and information assymetries weight upon decisions regarding capital structure and build up a strategic perceptive of key financial decisions faced by corporations.

Optional Modules

ECOM026 Financial Derivatives The purpose of this module is to provide students with the theory and practice of pricing and hedging derivative securities. These include forward and futures contracts, swaps, and many different types of options. This module covers diverse areas of derivatives, such as equity and index derivatives, foreign currency derivatives and commodity derivatives, as well as interest rate derivatives. This module also addresses the issue of how to incorporate credit risk into the pricing and risk management of derivatives. All the relevant concepts are discussed based on the discrete time binomial model and the continuous time Black-Scholes model. The extensions of the Black-Scholes model are also discussed.

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ECOM035 International Finance The process of financial globalisation has emphasised the importance of international capital flows for the understanding of exchange rate dynamic behaviour. For this purpose, the emphasis of the module will be on models for exchange rate determination which is an area of central importance to major financial institutions.

The module will focus specifically on (purchasing power and interest rate) parity relationships, the use of the forward rate as an optimal predictor of the spot nominal exchange rate; the asset price view of exchange rate (using either flexible or sticky prices) with financial assets as perfect substitutes; the international CAPM and the (first generation) models of currency crises. Particular attention will be paid to the implementation of the Vector Autoregression Model (VAR) as an econometric methodology to test some of the theoretical models.

ECOM042 Empirical Finance This module will revisit the Efficient Market Hypothesis in finance and its relationship to the random walk model. It will then discuss statistical tests for the random walk hypothesis and their applications to weekly returns on common stocks. It will then go deeper into the empirical analysis of asset returns data so as to uncover the main stylised facts in finance using simple descriptive statistics. To explain the stylised facts in the data, the lectures will then apply asset pricing models from the two main strands of modern finance: market microstructure theory and behavioural finance.

ECOM057 Asset Management The purpose of this module is to provide students with practical application of modern portfolio theory and asset pricing, including active portfolio management, portfolio performance evaluation, portfolio insurance, and international portfolio diversification. On the successful completion of the module students will know how to practically implement modern portfolio management strategies and will be familiar with the practical aspects of asset valuation.

ECOM059 Applied Risk Management for Banking The module is aimed at MSc Banking and Finance and MSc Investment and Finance programmes as an optional module, and fills the gap in the school’s current MSc curriculum by addressing one of the most important “hot topics” in the post-financial crisis financial industry – identification, measurement and management if risks faced by financial institutions.

ECOM060 Further Quantitative Techniques for Finance This module aims to provide a deeper foundation in mathematics and statistics, creating a good basis for students to draw on in their professional careers. Module content also encompasses new and specialised techniques, which may not have been studied previously.

ECOM064 Applied Future and Options This course will provide students a general overview of exchange-traded futures and options (derivatives), from the perspective of a market participant i.e., where are they traded? Who trades derivatives? The composition of a trade?

Order types available? What happens after the trade? What is the impact of Information Technology on trading? Further, the course will clarify definitions relating to trading derivatives, evaluating option pricing using synthetics, assessing risk, the impact of margin and various equity option strategies will be simulated.

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Staff

Alfonsina Iona, PhD(Naples) Lecturer (Deputy Director) email: a.iona@qmul.ac.uk Corporate finance Alfonsina’s research in finance focuses on models of investment where the effects of capital market imperfections contribute to shape the firm's investment; where corporate investment is affected by the public investment and where capital market imperfections effects may be relaxed by some macroeconomic variables. In this research area she also analyses how corporate governance characteristics affect the firm financing policies and how these affect the firm value.

Andrea Carriero, PhD(Bocconi University, Milan) Lecturer email: a.carriero@qmul.ac.uk Applied macroeconometrics and forecasting Andrea is working on the econometric analysis of present value models, with applications on the expectation theory of the term structure of interest rates, the uncovered interest rate parity, and the new Keynesian Phillips curve.

He is also working on the construction and evaluation of alternative composite coincident and leading indexes for the Euro Area and the UK. Francis Breedon Professor email: f.breedon@qmul.ac.uk Finance Francis works mainly on foreign exchange markets with a focus on FX microstructure which aims the understand exchange rate movements by analysing actual trading activity. Most recently he has studied how differences in beliefs 08 MSc Business Finance

amongst market participants influence returns and volatility. His research also extends to the interaction between monetary and exchange rate policy and financial markets and includes recent work on foreign exchange policy in Iceland.

Marcelo Fernandes, PhD(Solvay Business School, Brussels) Professor email: m.fernandes@qmul.ac.uk Econometric theory, financial econometrics and empirical finance Marcelo’s research interests are in econometric theory, financial econometrics and empirical finance. Most of his work deals with the theory and application of nonparametric methods to high frequency financial data, although he is also interested in non parametric testing of properties such as symmetry and independence. As for empirical finance, he is currently working on a preferences-free approach for the identification of the stochastic discount factor.

Stepana Lazarova, PhD(LSE) Senior Lecturer email: s.lazarova@qmul.ac.uk Time series econometrics, structural breaks, long memory and bootstrap Stepana works in the area of time series econometrics. In particular she focuses on time series with long memory. She investigates linear models with breaks in parameters and examines the validity of bootstrap methods for models with strongly dependent processes.

Leone Leonida, PhD(York and Naples) Director email: l.leonida@qmul.ac.uk Growth economics and finance Leone’s research interests are mainly in growth dynamics and corporate finance. On the one hand, he is studying the effects on growth processes and convergence patterns of structural change (ie industrialisation and economics shocks) by means of semi-parametric stochastic kernels and ACF estimation. On the other hand, he is studying the effects on firm value and investment of corporate governance mechanisms, exchange rate fluctuations and spill-over effects from public capital.

Yioryos Makedonis Lecturer email: y.makedonis@qmul.ac.uk Yioryos's main areas of teaching and research are mathematical economics, macroeconomics, with emphasis on banking, and environmental economics. He holds postgraduate degrees from the University of Kent at Canterbury and Birkbeck, University of London.

Giles Spungin, PhD(London) Lecturer email: g.spungin@qmul.ac.uk Asymmetric information, algorithmic trading, financial forecasting and finance Giles’ research interests are concentrated around areas of Finance, Financial Economics and Financial Econometrics. He is interested in effects of informational asymmetries on financial markets. Moreover, he works on Algorithmic trading and applications of Markov Regime

Switching to high-frequency financial forecasting, both equity and fixed income.

In addition, he works in the industry for an investment bank as a quant auditor.

Jesse McDougall Visiting Professor Jesse McDougall is a Visiting Professor of Finance at QMUL. She also works as a Portfolio Manager of a proprietary, quantitatively-driven asset management strategy for Liquid Capital Markets. She worked for 5 years at Barclays Capital in their Equity Derivatives Proprietary Trading team, researching and trading arbitrage strategies and in a prior role, in Corporate Finance Advisory with Bank of Montreal. Jesse’s research interests are focused in the equities space, on tradable market anomalies and behavioural finance.

Gerry Perez Visiting Professor Gerald Perez has been in the financial markets for more than 23 years. He is a former professional institutional trader (in the US and Europe). He is a former project manager and compliance officer. Gerald formerly sat on the Futures Industry Association (FIA) European board. Currently sits on the Options Industry Council - European board and on the editorial board of the Futures Industry Association Magazine. Gerald periodically appears and speaks in exhibitions, periodicals, TV and Radio, on Bloomberg, CNBC Europe, NDTV and Sky News from Europe, the Middle East to India. He is a director at Interactive Brokers (IB).

Interactive Brokers Group with an equity capital

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Staff (cont)

of $4.4 billion is a large independent online broker/dealer that operates offices worldwide.

IB executes over one million trades per day.

Amaro de Matos, Joao and Fernandes, Marcelo (2007) Testing the Markov property with high frequency data, Journal of Econometrics

Sample publications

Fernandes, Marcelo (2006) Financial crashes as endogenous jumps: Estimation, testing and forecasting, Journal of Economic Dynamics and Control

Aiello, F., Iona, A. and Leonida, L. 2009 “Regional Infrastructure and Firm Investment. Theory and Empirical Evidence for Italy.” (with F. Aiello and L. Leonida). 2011 Empirical Economics 40, 25-50 Regional Infrastructure and Firm Investment.

Theory and Empirical Evidence for Italy Guay, A., Guerre, E. and Lazarová, S. 2009 Adaptive Rate-optimal Detection of Small Autocorrelation Coefficients

Fernandes, M. and Grammig, J. 2006. “A Family of Autoregressive Conditional Duration Models”, Journal of Econometrics Fernandes, M. and Gram mig, J. 2005.

“Nonparametric Specification Tests for Conditional Duration Models”, Journal of Econometrics

Caggiano, G. and Leonida, L. 2008.

“International Output Convergence: Evidence from an AutoCorrelation Function Approach”, The Journal of Applied Econometrics

Giles, R. 2005. “A point and figure chart approach to UK interest rates”, Journal of Managerial Finance

Caggiano, G. and Leonida, L. 2007. “A Note on the Empirics of the Neoclassical Growth Model”, Economics Letters

Lazarova, S. 2005. “Testing for Structural Change in Regression with Long Memory Processes”, Journal of Econometrics

Carriero, A. 2008. “A simple test of the New Keynesian Phillips Curve”, Economics Letters

Lazarova, S., L. Trapani and G. Urga. 2008.

“Common stochastic trends and aggregation in heterogoeneous panels”, Econometric Theory

Carriero, A., Favero, C.A., and Kaminska, I., 2006.

“Financial factors, macroeconomic information and the Expectations Theory of the term structure of interest rates”, Journal of Econometrics Fernandes, Marcelo and Rocha, Marco Aurelio dos Santos (2007) Are price limits on futures markets that cool? Evidence from the Brazilian Mercantile and Futures Exchange, Journal of Financial Econometrics.

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Kartsaklas, A. 2005. “The volume-volatility relationship and the opening of the Korean stock market to foreign investors after the financial turmoil in 1997”, Asian Pacific Financial Markets

Careers

George Kapetanios Head of School Why is your School offering the MSc in Business Finance?

In today's competitive and unpredictable environment, companies are increasingly focusing on sound practices and tight risk management, while ensuring the continuing ability to operate profitably. Graduates will acquire the necessary theoretical and practical tools to operate in this environment. This is particularly important to banking institutions, particularly post the 2007-2008 “credit crunch” and during the difficult economic period we are going through. A crucial element of our programmes is the presence of practitioners.

They can complement the theoretical material provided during the course with real life case studies that have been found invaluable by past students.

In which sector do you think your graduates will find a job?

Almost all economics and finance graduates find a job within a year, and I expect this situation to continue and possibly improve for student’s that acquire this MSc. Many will embark on corporate finance careers. But a significant number of students will work in the wider private sector such as private corporations or the government.

Graduate profile: Karim Boudjelal Why did you choose the School of Economics and Finance at Queen Mary for your postgraduate study?

After studying Economics in the University of Toulouse 1, I decided to come to London to study for an MSc in Finance and Investment as I felt it would boost my career prospects. I chose Queen Mary University of London after much research of UK universities. The School of Economics and Finance at Queen Mary is renowned for its excellent research work.

What did you gain from your time at the School of Economics and Finance?

I enjoyed a warm welcome from the School staff when I first arrived. In fact, my experience of the programme, teaching staff and fellow students was extremely positive from the outset. The mix of revision classes, tutorials, and guest speakers kept up the momentum, and helped me achieve the best results. As a foreigner, I was also very glad of the free English classes offered by Queen Mary. This helped to improve my confidence and language skills. The University is also wellequipped with excellent modern facilities, especially the gym. Everything is done to help you feel at home.

Salary bracket: £45-50,000 + bonus What are your career plans in the next five years? I am now living in London and working for one of the leading investment banks in the world, Deutsche Bank. I definitely think that studying for the MSc in Finance and Investment was excellent preparation for the corporate world.

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Careers (cont)

Careers service Our careers service is run by a team of dedicated and professional staff. We offer advice through drop-in sessions and in-depth interviews, and run an extensive programme of seminars covering topics such as: interview skills; how to deal with psychometric tests; and surviving assessment centres. You will also be able to use our extensive Careers Library.

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Graduate employment

Graduate employment

An international outlook

Former students have carved out successful careers in a variety of environments including: financial and academic institutions, the civil service and industry.

The Economics School at Queen Mary is made up of people from all over the world. In fact, international diversity of both faculty and students is a key ingredient of our success.

Female students are also well represented, making up almost 50 per cent of students.

First destinations of our graduates include employment and/or research at: the International Monetary Fund (IMF), CFA, NYSEÂŹEuronext, Mazars Pakistan, JS Bank, South Chine Securities (UK) Ltd, ING Wholesale. Other former students work in the City of London in institutions such as Barclays, HSBC, Ernst&Young.

The table below shows students’ country of origin by percentage, for the MSc in Finance and Investment. (The MSc in Business Finance is a new degree programme, so does not have any country of origin statistics yet).

The table below shows student destinations, by percentage.

Country of origin

Destination

Others 17% Event Management 8% Research 4% International Finance 15%

Banking 33%

Europe 22%

Middle East 33%

England 9%

Investment Banking 23%

Africa 6%

Asia 30%

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Alternative MSc programmes

The School of Economics and Finance runs a number of specialist MSc degree programmes.

You can indicate a second choice of programme on your application form. You will be considered for entry on to your second choice should we have reached the maximum number of students on the MSc in Business Finance.

MSc Economics MSc Finance and Economics MSc Finance and Econometrics These are well-established intensive programmes providing rigorous training in modern economic theory and applications (MSC Economics); advanced study in finance and related areas of economics (MSc Finance and Economics); advanced study in finance and econometrics (MSc Finance Economics).

These programmes are ideal for students who aim to train as professional economists in the private sector or government, or follow an academic, or research career. All three programmes include a dissertation component, and are recognised as Research Training degrees by the ESRC under their “1+3� scheme.

For more information: MSc Economics www.econ.qmul.ac.uk/postgraduate/mscprogrammes/msc-economics MSc Finance and Economics www.econ.qmul.ac.uk/postgraduate/mscprogrammes/msc-finance-and-economics

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MSc Finance and Econometrics www.econ.qmul.ac.uk/postgraduate/mscprogrammes/msc-finance-and-econometrics MSc Investment and Finance This programme aims to train students and professionals in areas of finance which have major practical and theoretical interest, especially investment analysis and corporate finance issues such as optimal capital structure and mergers and acquisitions, banking, derivatives and finance microstructure.

This programme offers professional postgraduate training, preparing students to follow careers in finance, banks or elsewhere in the private sector.

A number of optional modules are also on offer.

These are taught by City practitioners who provide insiders’ views on issues of interest to the financial community.

For more information: MSc Investment and Finance www.econ.qmul.ac.uk/postgraduate/mscprogrammes/msc-investment-and-finance MSc Banking and Finance This MSc in Banking and Finance offers specialised, practical training in an environment of academic excellence. Students cover a variety of perspectives on how financial markets operate, grounded in economic and financial theory and practice.

This new, taught MSc programme is ideal for those aiming to pursue careers in the City, private banking sector, financial institutions, and financial regulatory bodies, as well as those already working in these fields. Graduates will

be well placed to follow careers in investment management, financial statement, risk and portfolio management.

For more information: www.econ.qmul.ac.uk/postgraduate/mscprogra mmes/msc-banking-and-finance / MSc Finance This course provides a rigorous training in finance coupled with a strongly vocational approach. As well as offering advanced study in all the key areas of finance, this course has a fully integrated careers programme and extensive industry links that aim to maximise students' employment prospects. On completion of the programme students are expected to have deep knowledge of the financial systems of advanced and transitional economies; to be able to understand how corporations are financed and to be able to analyse financial statements, and finally, to be equipped with appropriate statistical and mathematical tools for high quality research in Finance.

For more information: MSc Finance www.econ.qmul.ac.uk/postgraduate/ programmes/msc-finance-new MSc Banking This MSc brings the latest advances of applied research and is specifically designed to impart a thorough knowledge of the main components of commercial and investment banking and the changing structure of the international banking industry.

For more information: MSc Banking www.econ.qmul.ac.uk/postgraduate/mscprogrammes MSc Law and Finance This MSc Degree is to be offered jointly by the School of Economics and Finance and the School of Law. The objective is to provide high level inter-disciplinary treatment of the key subject areas within law and finance for advanced academic study and professional training purposes. The Law and Finance programme will follow the LLM format with students taking 10 taught modules and an assigned essay.

For more information: MSc Law and Finance www.econ.qmul.ac.uk/postgraduate/mscprogrammes/msc-law-and-finance MSc Accounting and Finance The MSc in Accounting and Finance is a new taught MSc programme that offers specialised, practical and theoretical education in an environment of academic excellence. It is designed for students who aim to pursue a career in the financial services industry and professionals who wish to improve their theoretical and practical knowledge of financial markets.

For more information: MSc Accounting and Finance www.econ.qmul.ac.uk/postgraduate/programme s/msc-accounting-and-finance-new

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Accommodation and application procedure

Accommodation

Application

In the 2009/10 academic year, all postgraduate Economics students were accommodated in Mile End’s award-winning Student Village, on campus. This should be the case for future years.

However, the accommodation office can also help you find private accommodation nearby if you prefer. For more information please see: www.qmul.ac.uk/qmliving/accommodation

All candidates should include a full academic transcript (a record of courses taken and grades achieved) and two academic references with their applications. The deadline for applications is mid-July, but courses generally start to fill up by the middle of March each year. The School reserves the right not to process applications which arrive later than July.

Entry requirements

Further information

You should have at least an upper-second class honours degree, or equivalent, normally, but not strictly, in Economics. Some background in quantitative subjects is advisable. Students are expected to sit pre-sessional statistics and mathematics examinations following intensive pre-sessional modules in September.

The School welcomes informal enquiries about any aspect of its graduate programmes.

For further information please contact the postgraduate programme manager: Sarah Riley School of Economics and Finance Queen Mary, University of London Mile End Road, London E1 4NS email: s.riley@qmul.ac.uk Tel +44 (0)20 7882 8848 Fax +44 (0)20 8983 3580 For more information and application pack, visit: www.econ.qmul.ac.uk/postgraduate/mscprogrammes/msc-banking-and-finance

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