Prestigious Scottish Funding Council Awards are available to high calibre applicants for this programme. The SFC has selected this programme in recognition of the high demand for students with these qualifications. The awards cover all tuition costs; for further information, please see: funded places.

This Masters programme will look at the economic and financial determinants of financial risk including market risk and some elements of liquidity and counterpart risk. You will learn how to take advantage of the opportunities inherent to financial risk. In addition to acquiring a sound understanding of financial risk, you will learn how to use financial instruments in practice to achieve different goals and how to optimise your opportunities.

Programme overview

• MSc: 12 months full-time;

Teaching is based on formal lectures which also allow opportunities for class discussion. Technical subjects are supported by weekly or fortnightly small tutorials, which provide opportunities for you to engage with some issues or questions in a group format. Some courses also involve lab sessions using specialised software, for instance in the study of econometrics.

You will take five core courses and select two optional courses.

Core courses

• Basic econometrics (or Modelling and forecasting financial markets subject to approval from the programme director)
• Economic fundamentals and financial markets 
• Financial markets, securities and derivatives 
• Financial risk analysis
• Modelling and forecasting financial markets (for students who are not required to take Basic econometrics)
• Research methods and dissertation training (a non-credit bearing course).

Optional courses

• Advanced portfolio analysis (Portfolio analysis and investment is a co-requisite for this course)
• Applied computational finance
• C++ in Finance (Mathematical finance is a co-requisite for this course)
• Corporate finance and investment
• Empirical asset pricing (Basic econometrics, or Portfolio analysis and investment, or Economic fundamentals and financial markets are co-requisites for this course)
• Financial derivatives (Mathematical finance is a co-requisite for this course)
• Financial services 
• Hedge fund risk management
• International finance and money 
• Mathematical finance (co-requisite for Financial derivatives)
• Modelling and forecasting financial markets (if not taken as a compulsory course)
• Portfolio analysis and investment (co-requisite for Advanced portfolio analysis).

You will also complete a dissertation of between 12,000 and 15,000 words.

Career prospects

Suitable career paths when you graduate will be with banks including investment and central banks such as the International Monetary Fund and World Bank. Other opportunities will be presented by asset management firms, governmental bodies involved in financial decision-making, and firms working in the area of financial transactions and provision of finance.

Academic entry requirements

You should have at least a 2:1 Honours degree or non-UK equivalent (eg, a GPA of 3.0 or above) in Economics, Finance, Engineering, Physics or a related discipline, with at least two credit-bearing courses in economics or finance.

International students with academic qualifications below those required should contact our partner institution, Glasgow International College, who offer a range of foundation courses.

English language requirements

For applicants whose first language is not English, the University sets a minimum English Language proficiency level.

International English Language Testing System (IELTS) Academic module (not General Training):

• overall score 6.5
• no sub-test less than 6.0, with writing at 6.5
• or equivalent scores in another recognised qualification (see below)
   

Common equivalent English language qualifications:

• ibTOEFL: 115; minimum Listening: 28; Reading: 29; Writing: 30; Speaking:26

Pre-sessional courses
The University of Glasgow accepts evidence of the required language level from the Language Centre Pre-sessional courses. We also consider other BALEAP accredited pre-sessional courses:

• Language Centre, University of Glasgow
• BALEAP guide to accredited courses 

FAQs

Visa requirements and proof of English language level

It is a visa requirement to provide information on your level of English based on an internationally recognised and secure English language test. All test reports must be no more than 2 years old. A list of these can be found on the UK Border Agency website. If you have never taken one of these tests before, you can get an initial idea of your level by using the Common European Framework self-assessment grid which gives you a level for each skill (e.g. listening B1/writing B2 etc.) However, please note that this is not a secure English language test and it is not sufficient evidence of your level of English for visa requirements.

If you require a Tier 4 student visa, your qualification must be one of the secure English language tests accepted by UK Border Agency:

• UK Border Agency Tier 4 English Language requirements
• UKBA list of approved English language tests [pdf]

For further information about English language requirements, please contact the Recruitment and International Office: pgadmissions@glasgow.ac.uk

Please note: applications for SFC funded places are open for entry in September 2013.

Apply now

Business School deposits

A £2,000 deposit is requested for this programme from International (beyond the EU) applicants who are eligible for an offer to this programme (deposits are specifically requested from international applicants who require a Certificate of Acceptance to Study (CAS) Letter from the University in order that they can apply for visas. The deposit indicates the applicants commitment to study at Glasgow and is a prerequisite to issuing the CAS letters).

The deposit is redeemable against your overall tuition fee, and helps the University ascertain which students are committed to attend the University in September 2013.

Deposits are accepted on a first-come, first-served basis and you should note that the courses may close before the deposit deadline if all available places are taken.

Terms and Conditions

The £2,000 deposit may be refunded in certain circumstances, minus a £200 handling fee. Each individual request for repayment will be considered, but the following guidelines will apply:

Deposits WILL be refunded to applicants under the following circumstances:

1. Where the applicant has personal circumstances such as illness, bereavement or other family situations that has prevented them coming to the UK. Medical or other proof may be requested.
2. Applicant can prove that they have applied for a Visa to attend the University of Glasgow, but this has been refused. The applicant must have shown ‘real intent’ to study at the University of Glasgow but has been unable to get their visa;
3. Applicant does not meet the academic or language test conditions of his / her offer – please note that evidence must be provided that indicates a reasonable attempt was made to meet language conditions.

Deposits WILL NOT be refunded to applicants under the following circumstances:

1. Applicant decides to go to another institution;
2. Applicant cannot be released from work to study at the University of Glasgow;
3. Applicant does not send completed documentation as requested in the condition of the offer – this may be required in order to prove that the conditions of offer have not been met for academic or language test reasons – failure to respond to requests for this information will result in non-repayment of deposit;
4. Applicant has not secured funding to attend the University of Glasgow  – this may be as a result of not being successful in applications for scholarships, OR simply not having sufficient funds in bank at time of visa application. This condition will apply unless it can be proven that there are clear mitigating circumstances which have significantly changed the individual’s position since the time of application

Should a situation arise whereby an applicant cannot be accepted, either due to an error on the part of the University, or if the course has reached its maximum capacity by the time the deposit is received, then the deposit will be refunded in full (without deduction of a handling fee).

For 2013-14

MSc