Postgraduate Studies in Economics and Finance at St. Andrews University

Masters and Research Degrees

The School of Economics and Finance has two Masters programmes, International Strategy and Economics (ISE), and Finance, both of which are described below. The academic staff of the School of Economics and Finance have wide experience of their areas of specialisation, and are engaged in current applied and theoretical research. Along with this, they have useful contacts with business, government, and a wide range of other institutions.

They are available for supervision of full time research students in numerous areas. The full time research degrees are of two forms. First, the MPhil. Degree, which requires two years of study, and is awarded on the basis of an externally examined dissertation, of up to 40, 000 words. Second, the PhD degree, which requires three years of study, and is awarded on the basis of an externally examined thesis of up to 100, 000 words.

These research activities are supported by the presence of adjunct Research Centres, devoted to rigorous research in specialist areas: the Centre for Research into Industry, Enterprise, Finance and the Firm (CRIEFF); and the Centre for Dynamic Macroeconomic Analysis (CDMA). Associated activities include the Electronic Society for Social Scientists (ELSS); and several members of staff are actively involved in the Money Macro and Finance (MMF) group, a UK/European research network.

Masters Applications

Finance

Applicants for the Diploma or MSc in Finance should hold a good first degree from a UK, EU, US or other overseas university institution (e.g. GPA of 3.6 or better). They should be fluent in written and oral English (e.g. IELTS 6.5). The minimum academic entry requirement is an upper second class honours degree (or overseas equivalent) in economics (single or joint honours), or in a cognate subject with some mathematical/statistical and some economics, finance or business content. Entry is competitive, and entrance standards are high. Students with little previous knowledge of economics and/or insufficient knowledge of English may need to take a preliminary year of study in Economics and/or English (in the ELT Centre), or may directed to one of two short courses in English.

Applications should be supported by two good academic references, full academic evidence of accreditation, and a sample of written work, in good English, on a finance related topic.

International Strategy and Economics

Applicants for the Diploma or MSc in ISE should hold a good first degree from a UK, EU, US or other overseas university institution (e.g. GPA of 3.6 or better). They should be fluent in written and oral English (e.g. IELTS 6.5). The minimum academic entry requirement is an upper second class honours degree (or overseas equivalent) in economics, management, business, commerce (single or joint honours), or a cognate subject. A high general ability in handling both literary and quantitative evidence is essential. Entry is competitive, and entrance standards are high. Students with little previous knowledge of economics and/or insufficient knowledge of English may be directed to a preliminary year of study in Economics and/or English (in the ELT Centre), or to one of two shorter English courses, depending on proficiency:

Applications should be supported by two good academic references, full academic evidence of accreditation, and a short sample of written work (e.g. 500 words), in good English, on an ISE related topic.

Research Degrees of MPhil or PhD

For entry to the full time research degrees of MPhil or PhD in ISE, candidates should have a good instructional Master’s degree in the core area of ISE, or a cognate area, outstanding research potential, supported by two strong academic references, and a coherent research proposal of one to two thousand words, displaying knowledge of the subject matter, insight into research issues, and a familiarity with the relevant research literature. The proposed research area should be chosen by reference to existing staff research interests and expertise. The School currently has 25 PhD students.

For entry to the full time research degrees of MPhil of PhD in Finance, candidates should have a good instructional Master’s degree in the core area of Finance, or a cognate area, outstanding research potential, supported by two strong academic references, and a coherent research proposal of one to two thousand words, displaying knowledge of the subject matter, insight into research issues, and a familiarity with the relevant research literature. The proposed research area should be chosen by reference to existing staff research interests and expertise.

Research Students who wish to undertake research in the School of Economics and Finance should complete the appropriate Application Form and provide supporting documentation as outlined above.

Teaching Staff and Research Interests

Professor J A Beath (Industrial economics, R&D, public economics)

Professor F R FitzRoy (Microeconomic theory, industrial economics, labour economics, the economics of organisations, environmental economics)

Professor C Jensen-Butler (Urban and regional economics)

Professor Charles Nolan (Business cycles, quantitative general equilibrium macroeconomic models; Director CDMA)

Professor G C Reid (Industrial organization, small firms, venture capital finance, microeconomics; Director CRIEFF, Programme Director)

Professor A Sutherland (Macroeconomics and international economics)

Dr M M A La Manna, Reader (Industrial organisation, oligopoly and game theory, economics of biotechnology, agency theory, game theory & political philosophy.)

Dr G S S Shea, Reader (Financial economics, economic history)

Dr J Y Jin, Senior Lecturer (Industrial organization, information economics and other microeconomic topics)

Dr Lynn Evans, Senior Fellow (Growth and welfare effects of macroeconomic shocks and policy uncertainty; banking efficiency; and modelling education choice decisions)

Dr. Arbnab Bhattacharjee (microeconmics, industrial economics, corporate finance, macroeconomics)

Mr S M Bonetti, Lecturer (Macroeconomics, experimental economics)

Dr Tatiana Damjanovic (May Wong Smith Research Fellow, CRIEFF) (public finance)

Dr L Laselle, Lecturer (Macroeconomics & imperfect competition, general equilibrium, economic dynamics, monetary policies in open-economy macroeconomics)

Dr P D Macmillan, Lecturer (Macroeconomics, finance)

Mr Osiris Parcero (Stanley Smith Research Fellow, CRIEFF) (international business, industrial organisation, and applied econometrics).

Dr I Smith, Lecturer (Environmental economics, economics of social life)

Dr C Thoenissen, Lecturer (Open economy macroeconomics, exchange rates)

Ms H Paul, Teaching Fellow (Economic history, speculative bubbles)

Views of former students

News about former students

An example of graduate destination

MASTER OF SCIENCE PROGRAMMES

Master of Science in: INTERNATIONAL STRATEGY AND ECONOMICS

The ISE Programme

This new Masters programme (launched in 2004) in ISE has been developed, in an evolutionary way, out of earlier, successful MEP and MEIR Programmes, to reflect the continued, indeed increasing, interest in this distinctively St Andrews’ approach, as evidenced by the large volume of postgraduate applicants to our programmes from all over the world. Allied to this client interest is an established reputation within the School of Economics and Finance of hosting top quality inter- and multi-disciplinary programmes, that combine intellectual rigour, with an eclectic social sciences perspective on contemporary global events.

Students undertaking studies in ISE should end up with an enhanced ability to interpret the modern world, in the sense of understanding modern techniques of strategy, bargaining, and associated modelling, the workings of key strategic issues in international markets and institutions, international issues relating to the global economy, and gaining familiarity with a range of international topics including entrepreneurship, global cities, the environment, growth and development.

Our graduates take up a wide variety of posts e.g. economic analysis, strategy, management, the diplomatic corps, NGOs, banking, finance, investment, regulation, consultancy, the civil service, small business, and entrepreneurship. As well as working in the UK after graduation, international careers are commonplace: especially in Europe, and North America, and increasingly further a field, in South America, Australasia, China, Hong Kong, Japan and Thailand and so on. We have well established and dedicated staff who are active in teaching, research and publishing, over a broad range of topics relevant to studies in ISE.

The aim of the programme is to help develop the qualities of students who come here, so that they will have a learning experience that will make them up to date, clear thinking, analytically skilled, well trained, and possessed of both the capacity for creative work in ISE, and the practical ability to address real world problems, in a variety of institutional contexts.

See the course handbook for further details.

Master of Science in: FINANCE

The Finance Programme

This newly launched (2004) Masters programme has been developed to reflect the increasing interest in this area displayed by postgraduate applicants to St Andrews, allied to a long standing tradition, within this University, of placing our graduates in a wide variety of posts in the financial community. This is commonplace in the UK, Europe, and North America, and is becoming increasingly true of further a field, including China, Hong Kong, Japan and Thailand. St Andrews has a deep tradition in this area, dating back one hundred years, to W.R. Scott’s famous work on the form and finance of joint-stock companies, and the genesis of speculative crises. Today, we have a well established group of staff who are active in teaching, research and publishing in finance, over a broad range of topics.

All students take three first semester compulsory courses in: Investment Analysis, Financial Modelling, and Financial Markets and Institutions. In the second semester, all students take two compulsory modules in Corporate Finance and in Monetary Policy and International Finance. They then choose one additional module from the following, in the second semester: Further Topics in Finance, Financial Intermediation, and Options and Derivatives.

The aim of the programme is to help develop the qualities of students who come here, so that they will have a learning experience that will make them up to date, clear thinking, analytically skilled, well trained, and possessed of both the capacity for creative work in finance, and the practical ability to address real world problems, in a variety of institutional contexts.

See the course handbook for further details.

Please address enquiries on courses, research topics, study facilities and application forms to:

Postgraduate Secretary

School of Economics and Finance

University of St Andrews

St Salvator's College

St Andrews

Fife KY16 9AL

Scotland, UK.

Phone: 01334 462439

Fax: 01334 462444

Email: pgsececon@st-and.ac.uk