Money, Banking and Finance (MSc) 2018 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: 10 September 2018
  • End date: 30 September 2019

If you started this programme in 2017, you can find information about 2017 entry on the 2017 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:

  • intermediate micro and macro level
  • quantitative methods training
  • 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: £10,360
Overseas: £20,980

Find out about scholarships and funding.

Application deadline

Applications are accepted until shortly before teaching starts in September. Applicants should apply as early as possible to be eligible for certain scholarships and for international visa purposes.

Application requirements

  • CV
  • 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 original signed 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.

Teaching format

The programme consists of traditional lectures, tutorials, seminars and computer labs in small groups of students, plus a 15,000-word dissertation in an area of your choice. Courses are assessed both continuously and with end-of-semester exams. 

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

Further particulars regarding curriculum development.

Modules

Each module typically comprises:

  • 20 lecture contact hours
  • 5 contact hours including seminars, workshops and tutorials
  • intensive independent study
  • 50% continuous assessment
  • 50% by two-hour 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 2017–2018 academic year; some elements may be subject to change for 2018 entry.

All students taking the Money, Banking and Finance MSc 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 topics, and therefore module titles, vary year on year as they reflect research interests of our staff; in addition, optional modules require a minimum number of participants to be offered (see the University’s position on curriculum development). Examples currently include:

  • Behavioural Finance: examines the effects of behavioural biases in financial markets
  • Corporate Governance and Risk: investigates the problem of how a collection of corporate liabilities are affected in value by corporate actions
  • 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
  • Risk Management: standard techniques in risk and insurance.

Students may take optional modules from the Economics MSc programme with the prior permission of the programme director.

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


The modules listed here are indicative, and there is no guarantee they will run for 2018 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

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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:

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

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).