Postgraduate Course

MRes Finance

MRes Finance

Overview

The details
Finance
October 2022
Full-time
1 year
Colchester Campus

Our MRes Finance is designed for those wishing to follow a career in research and/or academia. It is the ideal first step if you hope to progress to doctoral studies, such as a PhD.

We equip you with the skills and knowledge to appreciate the depth and breadth of finance theories and techniques and apply these within a social science context. The content of our course is a direct response to requirements for, and suggested improvements in, research training laid down by the Economic and Social Research Council (ESRC).

You deepen your thinking about finance and develop a broader understanding of the changing roles and perception of finance within an ever-changing social context.

You develop knowledge and understanding of:

  • research skills, including both quantitative and qualitative approaches
  • theoretical stances underpinning different approaches to research
  • how to design a research proposal, including construction of research questions and/or hypotheses
  • launching and managing a research project, including data collection, analysis and interpretation

You’ll learn to use our Bloomberg Financial Markets Lab, which gives you access to the data and analytical tools found in financial institutions across the City of London and throughout the world. This will allow you to develop the skills needed in industry.

This course is taught at Essex Business School. Our expert team are at the forefront of financial debate and have presented their research at the Bank of England, the European Central Bank and the Federal Reserve. By embedding the latest academic and industry thinking into our teaching, you experience an education that’s at the forefront of the issues impacting today’s financial sector.

Our MRes Finance is also available to study part-time.

Why we're great.
  • We are one of the largest and most respected finance departments in the UK
  • Our MRes is a direct response to ESRC research training requirements
  • Our Financial Market Labs give you access to market-leading Bloomberg business data where you will be able to test your financial models against real-time business data
THE Awards 2018 - Winner University of the Year

Our expert staff

You join one of the UK’s largest Finance Group, with a team of experts in wide ranging specialisms.

Our lecturers have presented their work at the likes of the Bank of England, the European Central Bank and the Federal Reserve and are recognised for being at the forefront of research in:

  • business ethics
  • corporate social responsibility
  • organisation studies
  • leadership and strategy
  • finance and banking
  • risk management
  • international management

You’ll be taught by our team of experts with both academic and industry experience, including Professor Claudia Girardone. Claudia is Professor of Banking and Finance at Essex Business School and is also Director of the Essex Finance Centre (EFiC) and the School’s Director of Research. Professor Girardone has published over 50 articles on various aspects of banking and finance in books and peer-reviewed international journals and is currently on the editorial board of several journals. Her research focuses on banking sector performance and stability, bank corporate governance, the industrial structure of banking and access to finance.

Professor Neil Kellard, Dean of Essex Business School and member of the Finance Group, carries out research which supports developing countries through forecasting commodity prices. By modelling the effects of different causes, such as natural disasters, his research helps to find solutions to ease the impact of price changes for commodities such as energy and food.

We are also home to the Essex Centre for Macro and Financial Econometrics which brings together academic and industry expertise from both inside and outside the University of Essex to research and help solve important issues in macroeconomics and financial markets.

Specialist facilities

Our commitment to excellence in teaching extends to our working environment, with our landmark Colchester building providing excellent facilities to learn and socialise, including:

  • a virtual trading floor with Bloomberg Terminals offering direct use of Bloomberg data, information and analytics
  • an Eden-style dome and winter garden, which give the building its own micro-climate
  • cutting-edge lecture theatres
  • study pods and innovation booths for group working
  • networking opportunities with visiting businesses
  • Bonds café for meetings and socialising

Your future

Essex Business School is helping to create the business leaders of the future; those who are creative, innovative and ethically aware. 93% of our Essex Business School students are in employment or further study (Graduate Outcomes 2020).

Many of our graduates enjoy careers in financial analysis, management, public administration and accountancy at some of the world’s most well-known organisations and exciting SMEs, including:

  • KPMG Group
  • Groupon, a global e-commerce marketplace
  • Right Freight Pvt Ltc, an Independent freight forwarder
  • Copal Partners, a financial consultation agency
  • Capital Markets Intelligence, a financial publisher
  • Credit Data Research, a business funder
  • Many now also run their own growing businesses, including international business incubator 0100Ventures and entrepreneurship website SlovakSTARTUP.

MRes Finance students can also take advantage of the services offered by the Student Development Team, including: careers advice; work experience; internships; placements; and voluntary opportunities.

Entry requirements

UK entry requirements

You should have a high 2:2 honours degree or above, or international equivalent, in Finance, Economics or Business.

International & EU entry requirements

We accept a wide range of qualifications from applicants studying in the EU and other countries. Get in touch with any questions you may have about the qualifications we accept. Remember to tell us about the qualifications you have already completed or are currently taking.

Sorry, the entry requirements for the country that you have selected are not available here. Please select your country page where you'll find this information.

English language requirements

Structure

Course structure

We offer a flexible course structure with a mixture of core/compulsory modules, and optional modules chosen from lists.

Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field. The course content is therefore reviewed on an annual basis to ensure our courses remain up-to-date so modules listed are subject to change.

Teaching and learning disclaimer

Following the impact of the pandemic, we made changes to our teaching and assessment to ensure our current students could continue with their studies uninterrupted and safely. These changes included courses being taught through blended delivery, normally including some face-to-face teaching, online provision, or a combination of both across the year.

The teaching and assessment methods listed show what is currently approved for 2022 entry; changes may be necessary if, by the beginning of this course, we need to adapt the way we’re delivering them due to the external environment, and to allow you to continue to receive the best education possible safely and seamlessly.

Components and modules explained

Components

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose.

Each component has a status and carries a certain number of credits towards your qualification.

Status What this means
Core
You must take the set module for this component and you must pass. No failure can be permitted.
Core with Options
You can choose which module to study from the available options for this component but you must pass. No failure can be permitted.
Compulsory
You must take the set module for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Compulsory with Options
You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Optional
You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

Modules

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits.

In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available.

Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code. For example, the module code HR100-4-FY means:

HR 100  4  FY

The department or school the module will be taught by.

In this example, the module would be taught by the Department of History.

The module number. 

The UK academic level of the module.

A standard undergraduate course will comprise of level 4, 5 and 6 modules - increasing as you progress through the course.

A standard postgraduate taught course will comprise of level 7 modules.

A postgraduate research degree is a level 8 qualification.

The term the module will be taught in.

  • AU: Autumn term
  • SP: Spring term
  • SU: Summer term
  • FY: Full year 
  • AP: Autumn and Spring terms
  • PS: Spring and Summer terms
  • AS: Autumn and Summer terms

COMPONENT 01: CORE

MSc/MA Dissertation
(60 CREDITS)

Your dissertation is the culmination of your Masters programme, where you apply the knowledge gained on your course to produce an extended independent piece of work. You generate an original idea, analyse literature and current knowledge and produce a coherent argument that shows your ability to relate theory to practice. Your dissertation will help you develop vital skills for the workplace, as well as the ability to analyse real problems through an academic lens. You are assigned a supervisor for the duration of your project.

View MSc/MA Dissertation on our Module Directory

COMPONENT 02: COMPULSORY

Asset Pricing
(20 CREDITS)

Gain a formal introduction to asset pricing theories and empirical findings. You review the fundamental theories of the expected utility, asset pricing kernels, and risk-neutral valuation, covering the Capital Asset Pricing Model (CAPM), and linear factor models arising from the Arbitrage Pricing Theory (APT). You also discuss empirical asset pricing studies.

View Asset Pricing on our Module Directory

COMPONENT 03: COMPULSORY

Portfolio Management
(20 CREDITS)

Understand the process of portfolio management. You cover the main concepts such as efficient diversification, managing risk exposures, and the valuation of financial assets that are at the core of managing investment portfolios, and pay special attention to the practicalities of the implementation of these concepts.

View Portfolio Management on our Module Directory

COMPONENT 04: CORE WITH OPTIONS

BE351-7-SP or BE953-7-AU
(20 CREDITS)

COMPONENT 05: COMPULSORY

Finance Research Techniques Using Matlab
(20 CREDITS)

This module introduces Matlab, software commonly used in financial organisations and academia to model portfolio construction and solve banking and finance challenges. You learn how to use Matlab programming language to solve financial problems. These may include finding optimal portfolio weights, calculating and simulating derivative prices and implied volatilities, and estimating and simulating GARCH models, amongst others.

View Finance Research Techniques Using Matlab on our Module Directory

COMPONENT 06: COMPULSORY

Financial Modelling
(20 CREDITS)

Consider the use of modern econometric techniques in the analysis of financial time series. You cover multivariate models for stationary and non-stationary processes, such as Vector Autoregressive models, consider appropriate models for volatility, and study Markov processes and simulation methods used for financial modelling.

View Financial Modelling on our Module Directory

COMPONENT 07: COMPULSORY

Data Analysis: Cross Sectional, Panel and Qualitative Data Methods
(20 CREDITS)

This module provides you with an understanding of non-time-series data analytic approaches in finance. It covers methods for cross-sectional, panel and qualitative analysis and their applications whereby all topics are illustrated with relevant examples. Cross-sectional data are organised over individual groups (eg households, firms or countries) and have no time dimension. They may include discontinuous data (eg binary), qualitative or categorical data and are essentially non-numerical. Examples include: survey responses, textual analysis of social media or interviews. Panel data or longitudinal data are multi-dimensional data streams involving measurements over time. As such, panel data consists of researcher's observations of numerous phenomena that were collected over several time periods for the same group of units or entities. For example, a panel data set may be one that follows a given sample of individuals over time and records observations or information on each individual in the sample. The nature and advantages of panel data has led to numerous applications in finance and economics research.

View Data Analysis: Cross Sectional, Panel and Qualitative Data Methods on our Module Directory

COMPONENT 08: COMPULSORY

Postgraduate Mathematics Preparation
(0 CREDITS)

This module covers topics in mathematics that are required in Masters-level finance courses at the University of Essex. You focus on the basics of linear algebra, differential calculus including optimisation and dynamics.

View Postgraduate Mathematics Preparation on our Module Directory

Teaching

  • Teaching includes a combination of lectures, seminars and computer-based lab sessions
  • There will be an emphasis on learner independence, peer- and self-assessment

Assessment

  • Your assessed coursework will generally consist of essays, in-class tests and individual oral presentations
  • You may be required to sit exams during the third term of your academic year

Fees and funding

Home/UK fee

£13,030

International fee

£20,350

Fees will increase for each academic year of study.

What's next

Open Days

We hold Open Days for all our applicants throughout the year. Our Colchester Campus events are a great way to find out more about studying at Essex, and give you the chance to:

  • tour our campus and accommodation
  • find out answers to your questions about our courses, student finance, graduate employability, student support and more
  • meet our students and staff

If the dates of our organised events aren’t suitable for you, feel free to get in touch by emailing tours@essex.ac.uk and we’ll arrange an individual campus tour for you.

2021 Open Days (Colchester Campus)

  • Saturday, November 13, 2021

Applying

You can apply for this postgraduate course online. Before you apply, please check our information about necessary documents that we’ll ask you to provide as part of your application.

We aim to respond to applications within two weeks. If we are able to offer you a place, you will be contacted via email.

For information on our deadline to apply for this course, please see our ‘how to apply’ information.

Colchester Campus

Visit Colchester Campus

Home to 15,000 students from more than 130 countries, our Colchester Campus is the largest of our three sites, making us one of the most internationally diverse campuses on the planet - we like to think of ourselves as the world in one place.

The Campus is set within 200 acres of beautiful parkland, located two miles from the historic town centre of Colchester – England's oldest recorded town. Our Colchester Campus is also easily reached from London and Stansted Airport in under one hour.

 

Virtual tours

If you live too far away to come to Essex (or have a busy lifestyle), no problem. Our 360 degree virtual tour allows you to explore the Colchester Campus from the comfort of your home. Check out our accommodation options, facilities and social spaces.

Exhibitions

Our staff travel the world to speak to people about the courses on offer at Essex. Take a look at our list of exhibition dates to see if we’ll be near you in the future.

At Essex we pride ourselves on being a welcoming and inclusive student community. We offer a wide range of support to individuals and groups of student members who may have specific requirements, interests or responsibilities.


Find out more

The University makes every effort to ensure that this information on its programme specification is accurate and up-to-date. Exceptionally it can be necessary to make changes, for example to courses, facilities or fees. Examples of such reasons might include, but are not limited to: strikes, other industrial action, staff illness, severe weather, fire, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack (whether declared or not), natural disaster, restrictions imposed by government or public authorities, epidemic or pandemic disease, failure of public utilities or transport systems or the withdrawal/reduction of funding. Changes to courses may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will also keep students informed appropriately by updating our programme specifications.

The full Procedures, Rules and Regulations of the University governing how it operates are set out in the Charter, Statutes and Ordinances and in the University Regulations, Policy and Procedures.

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