MSc
1 year full time, 2 years part time
Starts September 2017

Banking and Finance

Gain a comprehensive understanding of the main theoretical and applied concepts in banking and finance.

We offer you training in banking, management and accounting as well as an in-depth appreciation of the finance industry in particular. This gives you a wide range of opportunities to specialise in advanced topics in banking and finance.

You're taught by academics at the forefront of the contemporary research agenda. Our teaching is in line with the most recent developments in the industry.

“The lectures and seminars are really interactive and promote in-depth analysis, critical thinking and systematic problem-solving.” Cihan TemizBanking and Finance MSc

Key facts

  • Our modules are carefully designed to prepare you for a successful career in banking and finance.
  • Learning with people from all over the world will provide you with the expertise and confidence to do well at a global level.
  • Our wide range of business courses – from management, marketing and entrepreneurship to accounting and finance – are all taught by top academic researchers and experienced industry practitioners.

How will I study?

You study core modules and options in the autumn and spring terms. In the summer term, you conduct a research project.

You'll be assessed through a variety of methods including unseen examinations and a dissertation.

Full-time and part-time study

Choose to study this course full time or part time, to fit around your work and family life. Modules for the full-time course are listed below.

For details about the part-time course, contact us at bmec@sussex.ac.uk

What will I study?

  • Module list

    Core modules

    Core modules are taken by all students on the course. They give you a solid grounding in your chosen subject and prepare you to explore the topics that interest you most.

    • Accounting for Decision Makers

      15 credits
      Autumn Teaching, Year 1

      This module is designed as an introduction for non-financial managers to comparative international accounting, and financial reporting and analysis, within the context of converging standards.

      No prior knowledge of accounting procedures is assumed or required.

    • Bank Financial Management

      15 credits
      Autumn Teaching, Year 1

      This module provides a comprehensive account of the primary aspects of bank financial management.

      Bank financial management covers the fundamental bank instrumental techniques, such as bank asset investment and bank funding instruments, and measuring costs and yield curves.

      The modelule demonstrates how bank managers evaluate bank performance, specifically using operational performance measures and frontier analysis, then details the elements of bank asset and bank liability management.

      Innovative aspects of bank strategies are covered, including bank funding alternatives, pricing off balance sheet items, and contingent claims products. International banking and foreign exchange are also discussed.

      In addition, the module deals with bank mergers and acquisitions.

    • Corporate and International Finance

      15 credits
      Autumn Teaching, Year 1

      This module covers the most important topics in corporate finance such as: capital investment decision-taking; financing andcapital structure; risk management; and portfolio theory. You will then analyse issues in international finance including: models of exchange rates; efficiency in foreign exchange markets; monetary unions; and international financial crises.

    • Bank Risk Management

      15 credits
      Spring Teaching, Year 1

      In this module, you study the different risk management techniques used to assess and control risk in the banking sector.

      You look at:

      • Value-at-Risk (VaR)
      • risk control techniques including limit setting and risk budgeting
      • Debit and Credit Value Adjustments (DVA and CVA)
      • credit risk assessment
      • credit lines
      • bank stress tests, which are designed to detect weak spots in the banking system so that preventative action can be taken.
    • Financial Derivatives

      15 credits
      Spring Teaching, Year 1

      This module provides up-to-date coverage of the main aspects of financial derivatives. Moreover, it gives an overview of the mechanics of futures markets, the hedging strategies using futures, the determination of forward and futures prices, the mechanics of options markets and the swaps, and the Greek letters. The module presents the corner stone of financial derivatives, namely the Black-Scholes-Merton Model and goes further to introduce Value at Risk.

    • Research Methods (Finance, Accounting and Banking)

      15 credits
      Spring Teaching, Year 1

      Provide students with the necessary training to undertake research.
      Provide students with an understanding of the relevance and importance of alternative epistemological positions in the social sciences and the nature of both qualitative and quantitative approaches to research.
      Develop students understanding of the nature of research in the social sciences by examining the study skills necessary to manage and undertake a research project.
      Provide students with opportunities to be familiar with frontier empirical and theoretical research.
      Provide students with a good foundation for undertaking a dissertation.

    • Research Project (MSc Banking and Finance)

      45 credits
      Summer Teaching, Year 1

      In this module, you undertake an applied research project.

      Specifically, your project involves researching and writing up, in the form of a dissertation, a specific aspect of banking - in a way that would support effective decision-making within an international/national banking context.

      As part of this module, you learn research skills and, through reflective practice, you apply those skills to a specific research topic in banking.

      For example, you will be able to estimate bank efficiency scores using either non-parametric (DEA) or parametric (SFA) methodology, and then empirically examine the impact of underlying contributing factors, such as Basel III regulation framework, on efficiency.

      Towards this goal, you benefit from our new state-of-the-art academic building and the new on-line databases such as Bloomberg and Bankscope.

      The aim is for you to critically survey and identify relevant theories and models and then to employ them in banking and finance.

      The skills and context aspects of the module will help prepare you for this task, as well as helping you to develop transferable skills.

      You may wish - for instance if your studies are sponsored by an organisation - to examine a particular problem/area for your organisation.

      Your studies in this module are split into two phases, which include the following topics:

      1. Planning phase (spring term)
        • research problems, issues and controversies in the field of banking and finance
        • planning and designing research
        • literature review
        • methodologies in banking
        • analysis of data
        • empirical estimations
        • implications and conclusions.
      2. Research phase (spring-summer term)
        • individual, self-directed research of your approved topic, leading to the submission of your written research portfolio and research project.

    Options

    Alongside your core modules, you can choose options to broaden your horizons and tailor your course to your interests.

    • Corporate Governance

      15 credits
      Spring Teaching, Year 1

      This module aims to introduce you to the roles and functions of boards of directors as well as the organisational structure of different types of firms, such as those within extended family networks and those of an entrepreneurial nature. This will involve developing understanding of information management systems and accounting techniques that assist effective board-level decision making as well as in the assessment of board and CEO effectiveness. The relevance of different boards structures will be discussed through a comparison of split boards and supervisory boards and the module will cover contemporary issues such as shareholder activism, the role of family and corporate block-shareholder control. Equally, the importance of worldwide differences in legal and institutional settings and their impact on corporate structure and governance will be discussed. While you will gain appreciation into contemporary issues effecting management structure of major corporations you will also be expected to apply this in real-life topical settings.

    • Financial and Time Series Econometrics

      15 credits
      Spring Teaching, Year 1

      The primary aim of this module is for you to become familiar with a variety of applied time-series econometric techniques, enabling the confident and independent use of these techniques.

      An important emphasis of the module is to provide you with 'hands-on' experience of econometric analysis through using a variety of economic data sets.

    • Information Systems and Management

      15 credits
      Spring Teaching, Year 1

      You study how Information Systems are used by organisations in commerical, public and voluntary sectors.

      You explore how Information Systems, including cloud computing and social networking, link technology and business strategy, and help to provide sustainable competitive advantage to businesses.

      You develop an understanding of the systems, technologies, concepts, tools, and frameworks needed to deploy, manage, and evaluate technology strategies, and processes, as well as the resources needed to gain competitive advantage.

    • Money and Banking

      15 credits
      Spring Teaching, Year 1

      In this module, you study: 

      • bond, stock and foreign currency markets
      • the role of banks and financial intermediation
      • competition and regulation in banking
      • financial crises
      • the role and policy tools of central banks
      • the role of money and banks in the broader economy.
    • Multinational Financial Management

      15 credits
      Spring Teaching, Year 1

      The main aim of this module is to evaluate the financial decision-making of companies operating internationally, providing an understanding of global capital markets, in the context of international trade patterns, international monetary systems, exchange rate regimes and foreign exchange markets, as well as tax rules and legal and institutional complexities. You will also develop competences in the appraisal of international capital expenditure choices and in the effective implementation of multinational management control systems. In addition, the module considers the political risks faced by multinational enterprises, including firm-specific risk, country risk, and global risk, together with an assessment of the origins and repercussions of the current credit crisis, including the international scale of securitization, and the impact of market failure in international interbank markets on multinational financial management.

      Summary outline: currency regimes and markets and the management of foreign exchange risk; measuring and managing exchange exposure; international financing and capital market integration; the cost of capital for foreign investments; capital budgeting for the multinational corporation; working capital management; taxation and transfer pricing; country risk analysis and the implications of the financial crisis of 2007-09 and module resumé.

Find out about studying business and management at Sussex, including finance, banking, logistics and entrepreneurship

Entry requirements

An upper second-class (2.1) undergraduate honours degree or above, demonstrating evidence of ability in mathematics or quantitative related areas.

English language requirements

Standard level (IELTS 6.5, with not less than 6.0 in each section)

Find out about other English language qualifications we accept.

English language support

Don’t have the English language level for your course? Find out more about our pre-sessional courses.

Additional information for international students

We welcome applications from all over the world. Find out about international qualifications suitable for our Masters courses.

Pre-Masters in Management and Finance

Need to boost your academic skills for your taught course? Find out more about our Pre-Masters in Management and Finance.

Visas and immigration

Find out how to apply for a student visa


Fees and scholarships

How much does it cost?

Fees

Home: £10,250 per year

EU: £10,250 per year

Channel Islands and Isle of Man: £10,250 per year

Overseas: £17,450 per year

Note that your fees may be subject to an increase on an annual basis.

How can I fund my course?

Postgraduate Masters loans

Borrow up to £10,280 to contribute to your postgraduate study.

Find out more about Postgraduate Masters Loans

Scholarships

Our aim is to ensure that every student who wants to study with us is able to despite financial barriers, so that we continue to attract talented and unique individuals.

Chancellor’s Masters Scholarship (2017)

Open to students with a 1st class from a UK university or excellent grades from an EU university and offered a F/T place on a Sussex Masters in 2017

Application deadline:

1 August 2017

Find out more about the Chancellor’s Masters Scholarship

Sussex Graduate Scholarship (2017)

Open to Sussex students who graduate with a first or upper second-class degree and offered a full-time place on a Sussex Masters course in 2017

Application deadline:

1 August 2017

Find out more about the Sussex Graduate Scholarship

Sussex India Scholarships (2017)

Sussex India Scholarships are worth £3,500 and are for overseas fee paying students from India commencing Masters study in September 2017.

Application deadline:

1 August 2017

Find out more about the Sussex India Scholarships

Sussex Malaysia Scholarships (2017)

Sussex Malaysia Scholarships are worth £3,500 and are for overseas fee paying students from Malaysia commencing Masters study in September 2017.

Application deadline:

1 August 2017

Find out more about the Sussex Malaysia Scholarships

Sussex MBA Scholarship (2017)

The Sussex MBA Scholarship is available on a competitive basis to UK, EU and international applicants who have been offered a place on The Sussex MBA.

Find out more about the Sussex MBA Scholarship

Sussex Nigeria Scholarships (2017)

Sussex Nigeria Scholarships are worth £3,500 or £5,000 and are for overseas fee paying students from Nigeria commencing a Masters in September 2017.

Application deadline:

1 August 2017

Find out more about the Sussex Nigeria Scholarships

Sussex Pakistan Scholarships (2017)

Sussex Pakistan Scholarships are worth £3,500 and are for overseas fee paying students from Pakistan commencing Masters study in September 2017.

Application deadline:

1 August 2017

Find out more about the Sussex Pakistan Scholarships

The Hornsey Scholarship (2017)

A £10,000 award for an outstanding student on the MSc in International Accounting and Corporate Governance.

Application deadline:

31 July 2017

Find out more about the The Hornsey Scholarship

How Masters scholarships make studying more affordable

Living costs

Find out typical living costs for studying at Sussex.


Faculty

Meet the faculty teaching and supervising on your course.

  • Faculty profiles

    Prof Katie Bailey
    Professor Of Management
    K.Bailey@sussex.ac.uk

    Research interests: Change Management, employee engagement, gender and employment, HRM in the public sector, Human resource management, knowledge-intensive firms, meaningful work, strategic human resource management

    View profile

    Dr Bruce Hearn
    Senior Lecturer in Accounting & Finance
    B.A.Hearn@sussex.ac.uk

    Research interests: Corporate finance, corporate governance, Finance, Financial Management

    View profile

    Prof Ranko Jelic
    Professor of Finance
    R.Jelic@sussex.ac.uk

    Research interests: Corporate finance, European corporate bonds, Management Buyouts, Private equity, Privatisation

    View profile

    Prof Emmanuel Mamatzakis
    Professor of Finance
    E.Mamatzakis@sussex.ac.uk

    Research interests: Corporate finance, corporate governance, Finance, Financial accounting, Financial Crisis in Greece, Financial Econometrics, Financial Management, Financial Markets, Financial stability, Public finances

    View profile

    Dr Mike Osborne
    Senior Lecturer in Accounting & Finance
    M.J.Osborne@sussex.ac.uk

    Research interests: Capital budgeting, Corporate finance, Finance, Fixed income mathematics, Interest rates, Investment appraisal, Project analysis, Retail finance, Time value of money

    View profile

    Dr Nikolaos Papanikolaou
    Lecturer in Banking and Finance
    N.Papanikolaou@sussex.ac.uk

    Research interests: Applied Econometrics, Applied Economics, Applied microeconomics, Bank accounting, bank regulation, Corporate culture, Economic Growth, european political economy, Financial accounting, Financial Econometrics, Financial Markets, Financial stability, International Accounting Issues, Monetary Economics, Systemic risk

    View profile

    Prof Barry Reilly
    Professor of Econometrics
    B.M.Reilly@sussex.ac.uk

    Research interests: Applied Econometrics, Development Economics, Economics of Sport, Labour economics

    View profile

    Dr Shqiponja Telhaj
    Reader in Economics
    S.Telhaj@sussex.ac.uk

    Research interests: Applied microeconomics, Economics of Education, Labour economics

    View profile

I am committed to continuing to publish in leading banking and finance journals, which means I bring the best from new research into my teaching.”Emmanuel Mamatzakis
Professor of Finance

Careers

You’ll gain the essential skills and knowledge for a successful career in banking and finance. This MSc helps you develop the managerial and technical analytical skills required by employers in the finance industry in both the private and public sectors.

This course is for you if you aim to work in:

  • the City of London
  • multinational banking and financial corporations
  • investment banking and fund management 
  • large international financial bodies such as the IMF, OECD and the World Bank
  • central banks such as the Bank of England, FED and the ECB
  • Government bodies such as the Treasury 
  • auditing, bank supervision and regulation
  • financial markets and regulators.

Graduate destinations

95% of students from the Department of Business and Management were in work or further study six months after graduating. Our graduates have gone on to jobs including:

  • audit executive, China XianFeng Finance Ltd
  • investment manager, Hainan Airlines
  • management information analyst, Credit Suisse.

(EPI, Destinations of Leavers from Higher Education Survey 2015 for postgraduates)

Working while you study

Our Careers and Employability Centre can help you find part-time work while you study. Find out more about career development and part-time work