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MSc Finance

The Business School has an experienced team of staff, which is made up of academically and professionally qualified lecturers with relevant industrial experience and finance experts with wide research interests.

The Course

Deregulation, globalisation, and the effect of the worldwide economic crisis across international stock markets have led to a growing interest in the subject of finance. Professionals in today’s market need to be adept at managing investments of both a financial and economic nature, and use sound and informed judgement in order to make crucial decisions.

Lincoln’s MSc Finance degree is designed to provide a framework for consolidating and enhancing students' finance and economics skills. It offers students the ability to explore practice in the context of relevant contemporary theory and research. Students can go beyond the fundamental theories to study advanced techniques, with a focus on quantitative methods and developing critical thinking skills. The programme is both quantitative and research-orientated in nature and makes use of DATASTREAM, an industry level database.

Academics on the MSc Finance are involved in the Lincoln Economics and Finance Research Group (LEAF).

LEAF brings together economics and finance academics from University of Lincoln’s International Business School and School of Social and Political Sciences, graduate students, and a diverse network of collaborators, with the aim of facilitating the creation and diffusion of rigorous and policy relevant research as well as research skills within the University, the local community, and society at large.

Their research is based on microeconomic models encompassing heterogeneous individual and firm behaviours and extends to the functioning of particular industries. Furthermore, the macroeconomic perspective that brings in the picture the interplay of institutions, markets, and policies in the diverse contexts of developing, emerging, and developed economies is also explored.

The taught element of the programme consists of eight compulsory modules, split over two terms:

  • Financial Reporting
  • Corporate Finance 1
  • Portfolio Analysis
  • Quantitative Methods for Economics and Finance 1
  • Bond Markets and Investment Analysis
  • Corporate Finance 2
  • International Macroeconomics and Finance
  • Quantitative Methods for Economics and Finance 2

Following the taught element, students are expected to complete the final master's stage of the programme through a dissertation supported by a research methods module.

Part-time students will complete the programme within two years. The programme structure for part-time study will be at the discretion of the programme leader.

Contact hours

Each module typically consists of three weekly teaching hours over a teaching term of 12 weeks, plus assessment. Four modules are usually studied per semester, equating to 12 hours per week. Part-time students will generally study two modules per term, equating to six hours of contact time per week. Hours of study may vary from term to term for both full and part-time students and can be spread throughout the week.

Postgraduate level study involves a significant proportion of independent study, exploring the material covered in lectures and seminars. As a general guide, for every hour spent in class, students are expected to spend four to five hours in independent study. For more detailed information please contact the Programme Leader.

Bond Markets and Investment Analysis (Core)
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Bond Markets and Investment Analysis (Core)

This module provides students with a chance to develop an understanding of the concepts and theory of portfolio analysis with a focus on straight bonds. It explores the analytical framework of bond management techniques and also seeks to introduce and evaluate the measures of investment funds’ performance.

The module is designed to complement the Portfolio Analysis module by providing opportunities to explore how bond pricing works in conjunction with the term structure and credit risk. The module unit is also designed to enable students to develop a conceptual understanding of how investment funds’ performance can be evaluated.

Corporate Finance 1 (Core)
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Corporate Finance 1 (Core)

Corporate Finance introduces the constructs of financial management decision making in modern firms and focuses on investment appraisal and the financing of the firm, dividend policy, capital structure and risk. It will familiarise students with the major theoretical developments and practices in the areas of corporate finance, and aims to encourage students to develop critical thinking about the advantages and disadvantages of diverse practices in areas of capital budgeting, dividend policy, capital structure and risk analysis. Throughout the module students will be expected to draw upon their own experiences and relate these to the theories, concepts and methods being presented.

Corporate Finance 2 (Core)
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Corporate Finance 2 (Core)

Following from Corporate Finance 1, this module looks further into the topic of Corporate Finance and advances the perspective that modern organisations can use the ideas of Modern Financial Theory (MFT) to enhance shareholder wealth through the use of derivatives, for example, to manage cash flow volatility. The module then moves to present a detailed analysis of the assumptions of the ‘classical’ approach to Corporate Finance, by analysing the ‘standard’ assumptions and presenting other approaches to the understanding of MFT. These are mainly the implications of alternative ‘modus operandi’ of financial logic, mainly from the perspective of behavioural finance.

Financial Reporting (Core)
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Financial Reporting (Core)

Concerned with the preparation and analysis of published financial statements, this module looks at the framework within which accounts are created and considers the role of those statements. There will be the opportunity to explore relevant professional practice, theory and research in respect of the accounting framework and how these relate to finance in contemporary organisations, as well as the development of a critical perspective in respect of the information contained in, and omitted from, published financial statements.

International Macroeconomics and Finance (Core)
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International Macroeconomics and Finance (Core)

This module equips students with an in-depth and applied-oriented understanding of theoretical and empirical problems addressed in the field known as International Finance (also known as International Macroeconomics / Open Macroeconomics) and to bring students up to the research frontier in International Finance. It draws heavily on financial modelling and financial econometrics.

Portfolio Analysis (Core)
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Portfolio Analysis (Core)

This module aims to provide concepts and theory of portfolio analysis with a focus on equities. It explores the analytical framework of asset pricing models and introduces the concepts associated with efficient market hypothesis.

The module makes use of DATASTREAM, draws upon statistical concepts of mean, variance, covariance and correlation and uses basic rules pertaining to these.

Quantitative Methods for Economics and Finance I (Core)
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Quantitative Methods for Economics and Finance I (Core)

This module provides students with an opportunity to develop their understanding relating to the background of statistical methods for primary research. Students will engage with statistical software, such as SPSS and Eviews, to apply quantitative analytical techniques to sets of data.

Quantitative Methods for Economics and Finance II (Core)
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Quantitative Methods for Economics and Finance II (Core)

The aim of this module is to build on the work in Quantitative Methods for Economics and Finance I while focusing on specific quantitative analytical techniques. The models examined are: Dynamic, ARIMA, GARCH, VAR and ECM, among others. The EViews statistical software and the DATASTREAM data provider are essential to the learning objectives and assessment of the module.

Independent Study for Banking Finance and Economics (Core)
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Independent Study for Banking Finance and Economics (Core)

This module provides students with an opportunity to carry out a substantive research project and to demonstrate their ability to investigate and reflect critically on an aspect of the programme. Students are expected to, with the guidance from their supervisor, generate their own research topic, select a research method, obtain data and apply theory as appropriate.

By aiming to combine well-developed theoretical and methodological foundations, the Independent Study project is designed to have both a practical value as a piece of research and also be of academic value.

Research Methods for Banking, Finance and Economics (Core)
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Research Methods for Banking, Finance and Economics (Core)

This research methods module aims to prepare students for undertaking the research for their Independent Study. It reviews core principles of the research methods that students are likely to utilise in their research. The chosen method should form the basis of their research design, and the structure of the of Independent Study submission.

† Some courses may offer optional modules. The availability of optional modules may vary from year to year and will be subject to minimum student numbers being achieved. This means that the availability of specific optional modules cannot be guaranteed. Optional module selection may also be affected by staff availability.

Assessment methods reflect the differing theoretical and practical approaches and learning outcomes of each individual module. They include unseen written examinations and individual coursework.

Formative assessments, such as problem-solving in seminars or class tests, are integrated into the programme. Whether assessment is formative or summative, students will be offered feedback with the aim of ensuring that it contributes to the learning process. Some coursework and module projects will be marked and returned during the teaching period, providing written feedback and allowing students to make any necessary improvements before the final assessment.

Assessment Feedback

The University of Lincoln's policy on assessment feedback aims to ensure that academics will return in-course assessments to students promptly – usually within 15 working days of the submission date.

Students on this programme can benefit from working alongside an experienced team of staff consisting of academically and professionally qualified lecturers with relevant industrial experience and wide-ranging research interests. They can engage with Datastream, a global financial and macroeconomic data platform, and have the opportunity to apply for exemptions from elements of examination for a number of professional bodies, including the Association of Chartered Certified Accountants, Chartered Institute of Management Accountants, and Association of International Accountants.

The School hosts a series of visiting speakers each year, enabling students to hear and learn from industry experts. Previous speakers have included representatives from organisations such as Deloitte, Santander, HSBC, Innocent, The Institute of Internal Auditors, and Sir David Tweedie (ex-Chairman of the IASB).

Students can also gain valuable hands-on experience with Lincoln International Business School’s Student Managed Investment Fund which operates in the same style as an investment management company operating on the London Stock Exchange. Supported by staff who have previously worked as investment bankers, students run all aspects of the fund and are fully responsible for its success. Find out more: https://www.lincoln.ac.uk/home/lbs/studentmanagedinvestmentfund/

 2020/21 Entry*
Home/EU £8,800
Home/EU 
(including Alumni Scholarship** reduction)
£7,040
International £15,900
International
(Including International Alumni / Global Postgraduate Scholarship** £2,000 reduction)
£13,900
   
Part-time Home/EU £49 per credit point
Part-time International £88 per credit point

 

 2019/20 Entry*
Home/EU £8,600
Home/EU 
(including Alumni Scholarship** reduction)
£6,880
International £15,600
International
(Including International Alumni / Global Postgraduate Scholarship** £2,000 reduction)
£13,600
   
Part-time Home/EU £48 per credit point
Part-time International £87 per credit point

* Academic year September- July
** Subject to eligibility

Loans

Postgraduate Master's Loan can help with course fees and living costs while you study. Individuals** will be able to borrow up to £10,906 for the purpose of completing an eligible postgraduate Master's qualification. The amount available will depend on the start date of your course.

Scholarships

As a postgraduate student you may be eligible for scholarships in addition to those shown above.

Guidance for Part-time Postgraduate Fees

To complete a standard Master's Taught programme, you must complete 180 credit points.

Full time students will be invoiced for the programme in full upon initial enrolment.

For part-time students, tuition fees are payable each credit point enrolled. To calculate your part-time fees, multiply the part-time fee per credit point by the number of credits you intend to complete within that academic year. This is usually between 60 and 90 credit points per year.

For example, if the fee per credit point for your programme is £49, and you enrol on 60 credits, the tuition fee payable for that academic year will be £2,940.

Fees for enrolment on additional modules

Tuition fees for additional activity are payable by the student/sponsor and charged at the equivalent £ per credit point rate for each module. Additional activity includes:

- Enrolment on modules that are in addition to the validated programme curriculum

- Enrolment on modules that are over and above the full credit diet for the relevant academic year

- Retakes of modules as permitted by the Board of Examiners

Exceptionally tuition fees may not be payable where a student has been granted a retake with approved extenuating circumstances.

For further information and for details about funding your study, scholarships and bursaries, please see our Postgraduate Fees & Funding pages [www.lincoln.ac.uk/home/studyatlincoln/postgraduateprogrammes/feesandfunding/].

Other Costs

For each course you may find that there are additional costs. With regards to text books, the University provides students who enrol with a comprehensive reading list and you will find that our extensive library holds either material or virtual versions of the core texts that you are required to read. However, you may prefer to purchase some of these for yourself and you will be responsible for this cost.

First or second class honours degree and grade C in A Level Mathematics.

Students from quantitative social sciences, engineering and IT backgrounds are encouraged to apply. Students are expected to demonstrate a sound working knowledge of mathematics and statistics.

Alternatively, prior work experience in a related field will be considered in place of a degree at the discretion of the teaching team.

If you have studied outside of the UK, and are unsure whether your qualification meets the above requirements, please visit our country pages https://www.lincoln.ac.uk/home/studywithus/internationalstudents/entryrequirementsandyourcountry/ for information on equivalent qualifications.

Overseas students will be required to demonstrate English language proficiency equivalent to IELTS 6.0 overall, with a minimum of 5.5 in each element. For information regarding other English language qualifications we accept, please visit the English Requirements page https://www.lincoln.ac.uk/home/studywithus/internationalstudents/englishlanguagerequirementsandsupport/englishlanguagerequirements/.

If you do not meet the above IELTS requirements, you may be able to take part in one of our Pre-session English and Academic Study Skills courses. https://www.lincoln.ac.uk/home/studywithus/internationalstudents/englishlanguagerequirementsandsupport/pre-sessionalenglishandacademicstudyskills/ . These specialist courses are designed to help students meet the English language requirements for their intended programme of study.

Learn from Experts

Throughout this degree, students may receive tuition from professors, senior lecturers, lecturers, researchers, practitioners, visiting experts or technicians, and they may also be supported in their learning by other students.

Geeta Lakshmi

Dr Geeta Lakshmi

Programme Leader

Geeta joined the University of Lincoln in 2004 and has supervised and examined PhD students. She is a passionate teacher, researcher and practitioner and firmly believes that the three roles enhance and enrich each other. Geeta leads her programme and admin roles in a collaborative style. She has been mentoring and guiding junior and new colleagues with her international experience in the industry for over 30 years.

Contact: glakshmi@lincoln.ac.uk


Your Future Career

Career and Personal Development

MSc Finance graduates may find opportunities across the financial sector in areas including banking, foreign exchange, sales, and financial risk assessment and management, while some students go on to pursue careers in research or academia.

Graduates from the Department of Accountancy, Finance, and Economics have gone on to secure the following roles :

  • Finance Officer at The Woodland Trust
  • Graduate Career at Hang Seng Bank (a subsidiary of HSBC group), Hong Kong
  • Operations Analyst at Cantab Capital Partners LLP
  • Evaluation Analyst at Humankind Charity
  • Trainee Accountant at Dexter and Sharpe
  • PhD student (awarded scholarship)
  • Accountant at Central Bank of Oman.

Studying MSc Finance has enabled me to secure a job as a business analyst with a multinational company. The course allowed me to work on exciting projects alongside senior management and directors due to the broad and detailed topics covered within the programme, adding value to my existing skill set. I can highly recommend it to anyone looking to transfer into the financial field or those wishing to consolidate existing knowledge with a deeper understanding.

James Boyle, MSc Finance, 2019

Facilities

At Lincoln, we constantly invest in our campus as we aim to provide the best learning environment for our students. Whatever the area of study, the University strives to ensure you have access to the specialist equipment and resources you need to develop the skills you may need in their future career

Students can study and research in the University's Great Central Warehouse Library, which provides more than 250,000 printed books and approximately 400,000 electronic books and journals, as well as databases and specialist collections. The Library has a range of different spaces for shared and individual learning.

This course is taught in the award-winning David Chiddick Building, which is situated in the centre of the city of Lincoln on the Brayford campus. It provides dedicated teaching and learning spaces and comprises lecture theatres, workshop rooms, IT laboratories and a café. Software including SAGE is available for you to use, as well as SPSS, Datastream (the source of financial and economic data), and FT.com.


The University intends to provide its courses as outlined in these pages, although the University may make changes in accordance with the Student Admissions Terms and Conditions.