Money, Banking and Finance (MSc) 2019 entry

The MSc in Money, Banking and Finance covers money and banking, international finance, monetary policy and financial intermediation while also developing analytical skills and competence with empirical methods, preparing students for a professional career in international banking and finance.

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Course type

Postgraduate; leading to a Master of Science (MSc)

Course dates

  • Start date: 9 September 2019
  • End date: 30 September 2020

If you started this programme in 2018, you can find information about 2018 entry on the 2018 Money, Banking and Finance (MSc) page. Information about all programmes from previous years of entry can be found in the archive.

Course duration

One year full time

Entry requirements

A strong 2.1 Honours degree from a recognised UK university in a subject covering:

  • microeconomics and macroeconomics at the intermediate level
  • quantitative methods
  • money
  • banking
  • international finance or international economics.

If your background is exclusively in accounting, business administration, marketing, law or international relations, you are unlikely to be qualified to undertake this programme, and we suggest you look at other programmes offered by the University.

If you studied your first degree outside the UK, see the international entry requirements.

English language proficiency. See English language tests and qualifications.

The qualifications listed are indicative minimum requirements for entry. Some academic Schools will ask applicants to achieve significantly higher marks than the minimum. Obtaining the listed entry requirements will not guarantee you a place, as the University considers all aspects of every application including, where applicable, the writing sample, personal statement, and supporting documents.

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Tuition fees

UK and EU: £10,880
Overseas: £21,990

Application deadline

Monday 12 August 2019. Applicants should apply as early as possible to be eligible for certain scholarships and for international visa purposes.

Application requirements

  • CV or résumé. This should include your personal details with a history of your education and employment to date.
  • either a detailed personal statement including a list of current modules being undertaken (1,000 words) or a sample of academic written work (2,000 words)
  • two academic references
  • academic transcripts and degree certificates
  • evidence of English language proficiency (required if English is not your first language).

For more guidance, see supporting documents and references for postgraduate taught programmes.

Course information

The MSc in Money, Banking and Finance is a one-year taught postgraduate programme run by the University of St Andrews' School of Economics and Finance.

Highlights

  • In the 2014 UK Research Excellence Framework exercise, the School was ranked joint tenth in the UK and second in Scotland on the basis of the quality of its research publications, with over 80% of the research publications being classified as internationally excellent or world-leading.
  • Small group teaching allows a high level of student-teacher interaction, encouraging a warm and friendly learning environment. 
  • The programme aims to prepare students for jobs at a senior level in a wide range of areas: economics, finance, commerce, insurance, academia, diplomatic service and banking.
  • Develops high analytical ability in order to understand and develop the methods and rationale underlying modern banking, monetary policy and finance. 
  • You will become knowledgeable about the functioning and rationale of leading financial institutions, commercial and central banking, and the conduct and impact of monetary policy upon the financial system. 

Teaching format

The programme consists of traditional lectures, tutorials, seminars and computer labs in small groups of students. Courses are assessed both continuously and with end-of-semester exams. 

You will also complete a 15,000-word dissertation on a topic of your choice which is relevant and appropriate to the MSc. 

Every MSc student is assigned an adviser at the beginning of the year. Your adviser will provide you with individual guidance on module choice and academic conduct.

Further particulars regarding curriculum development.

Modules

Each compulsory module typically comprises:

  • 20 lecture contact hours
  • 5 or 10 contact hours for seminars, workshops and tutorials
  • intensive independent study
  • 50% continuous assessment
  • 50% assessment by written-end-of-semester examination.

For more details about each module, including weekly contact hours, teaching methods and assessment, please see the latest module catalogue, which is for the 2018–2019 academic year; some elements may be subject to change for 2019 entry.

You must take three compulsory modules in the first semester. These are:

  • Financial Econometrics: the theory and practice of financial econometrics
  • International Finance: key issues in international macroeconomics and finance including analysing models of exchange rate determination
  • Money and Banking: the economics of money, banking and financial markets.

In the second semester, students take two compulsory modules and are able to choose one optional module from a selection of topics. The compulsory modules are:

  • Financial Intermediation: the main theoretical issues involved in banking
  • Monetary Policy: key issues of monetary policy.

In your second semester, you will have the opportunity to choose one module from a selection of topics. The assessment patterns for individual optional modules may vary from the details given above. 

Examples of optional modules include:

  • Behavioural Finance: examines the effects of behavioural biases in financial markets
  • Experimental Economics and Finance: exposes students to the methodology of experimental economics
  • International Trade and Migration: examines the causes and consequences of international trade and migration, combining theory with empirical applications
  • Portfolio Theory and Management: develops students' knowledge and understanding of key issues in asset allocation and portfolio composition and management at an advanced level

The topics, and therefore module titles, vary year on year as they reflect the research interests of staff; in addition, optional modules require a minimum number of participants to be offered (see the University’s position on curriculum development).

The final element of the MSc is a 15,000-word dissertation. The dissertation should be in an area of money, banking and finance that you are interested in, chosen in discussion with your supervisor who will support you through the process. 

You will receive training in Semester 1 in framing a hypothesis, conducting bibliographic research, writing a literature survey, and structuring a dissertation.


The modules listed here are indicative, and there is no guarantee they will run for 2019 entry. Take a look at the most up-to-date modules in the module catalogue.

Visit St Andrews

If you are interested in studying at St Andrews, join us at an open day to explore the town, find out about our courses and meet current students.

Postgraduates

Upcoming visiting days:

  • Wednesday 14 November 2018
  • Wednesday 13 March 2019

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Funding

There are several funding options for postgraduate students.

Recent Graduate Discount
The University of St Andrews offers a 10% discount in postgraduate tuition fees to students who are eligible to graduate or who have graduated from St Andrews within the last three academic years and are starting a postgraduate programme with the University of St Andrews. 

Find out more about postgraduate scholarships. 

After the MSc

Careers

Career destinations for Money, Banking and Finance graduates include:

  • accounting and finance
  • actuarial science
  • assurance
  • commercial and central banking
  • corporate finance
  • corporate trading
  • economic, industrial and management consultancy
  • financial management
  • insurance
  • investment banking
  • private equity
  • venture capital.

The Careers Centre offers one-to-one advice to all students on a taught postgraduate course and offers a programme of events to assist students to build their employability skills.

Contact information

School of Economics and Finance
University of St Andrews
Castlecliffe
The Scores
St Andrews
KY16 9AR

Phone: +44 (0)1334 46 2439
Email: pgsececon@st-andrews.ac.uk

Economics and Finance website

Policies

Admission to the University of St Andrews is governed by our Admissions policy.

Curriculum development

As a research intensive institution, the University ensures that its teaching references the research interests of its staff, which may change from time to time. As a result, programmes are regularly reviewed with the aim of enhancing students' learning experience. Our approach to course revision is described online. (PDF, 72 KB).

Tuition fees

The University will clarify compulsory fees and charges it requires any student to pay at the time of offer. The offer will also clarify conditions for any variation of fees. The University’s approach to fee setting is described online. (PDF, 84 KB).