International Finance & Economic Policy MSc

Euro, Yen & Dollar bank notes

This programme offers an interdisciplinary training in economics and finance for a career in international finance within the international banking system, international corporations and public sector agencies such as ministries of finance and central banks.

Key facts

Why this programme

  • On this programme you will acquire knowledge of banking and public policy, international monetary policy and international financial management.
  • The Adam Smith Business School has been ranked in the top 10% worldwide for economics & finance (RePEc), with two of our academics rated in the top 1%.

Programme structure

You will take four core courses, two optional courses and complete a substantial independent piece of work, normally in the form of a dissertation.

Core courses

  • International corporate finance  
  • International macroeconomics and policy 
  • International finance and money 
  • International financial management.

Sample optional courses

  • Basic econometrics
  • Behavioural economics: theory and applications
  • Financial analysis and equity valuation
  • Financial institutions and markets in developing countries
  • Foreign direct investment and development 
  • Growth and development
  • IMF, World Bank and economic growth
  • Intermediate econometrics for applications in financial and development studies
  • International banking and financial markets
  • International trade 
  • Modelling and forecasting financial markets 
  • Money, finance and growth    
  • Project planning, appraisal and implementation
  • Public finance.

Optional courses are also offered in Accounting & Finance and Economic & Social History.

What our students say

Audrius Krikstaponis, Lithuania (2012-13)

 ‘I chose the Adam Smith Business School at the University of Glasgow because I studied here before and really enjoyed it. The option to choose my subjects within the course is very appealing. The sporting and social events outwith my studies were very enjoyable.’

Stavros Derdas (2008-09)

'The MSc International Finance and Economic Policy programme offers you an interdisciplinary training in the fields of economics and finance.  I consider this to be the greatest strength of this programme because it clearly expands your career horizons.'

Kayode Adepegba (2007-08)

'Since completing my degree, I have registered as a full-time student, studying for an ACCA qualification at Kaplan Financial, Glasgow.  Thanks to my MSc, first and foremost, my knowledge base has increased. Whilst studying for this degree, I can honestly say that I’ve been able to distinguish different distinct aspects of finance and their relevance and importance, which before attending the course, I just did not know.  I very much enjoyed the practicality of some of the courses that I took, in terms of the relevance to previous and ongoing international situations.  In terms of usefulness, I feel the course has satisfied a much-needed, sound finance background or foundation.  So much so that I’m fairly certain which aspects of finance I would like to take my career in.


In the foreseeable future, I would like to be a finance manager, in the region of pure corporate finance and taking courses, particularly in International Corporate Finance, International Financial Management and Financial Sector Stability and Growth, have given some guiding light.

I’m appreciative to Economics for holding this programme jointly with Accounting and Finance. It is one that fulfils the needs of students wishing to lean in either direction, in my case finance, whilst still gaining some important knowledge in economic issues.

While so much may not be known before attending any chosen degree, over the course of the entire programme, it’s important that every student find outs which aspects of the degree, with respect to course choices, that satisfy their interest; such will, even in the smallest way, contribute to the next step on their career path.'

Susana Isabel Teixeira de Matos Rosa (2007-08)

'Following my degree, I took up a position with the African Development Bank (Tunis-Tunisia)1 within the ORRU - Partnerships and Cooperation Unit.  My MSc programme was crucial to start a career within the financial sector or, more precisely, in the area of finance and economic development. Together with my Bachelor’s degree in Political Science and International Relations, it allowed me to gain the single opportunity of working within the ORRU.  Furthermore, it has everything to do with my interest in working with issues related to the Millennium Development Goals and assist the preparation of meetings involving national countries, ONGs and international institutions to debate and contribute to sustainable development in Africa. In addition, I believe that this traineeship will give me a solid background for a future PhD in Economics.


My main piece of advice for prospective Economics postgraduate students is to take every single advantage of the great opportunity of studying in Glasgow. First Economics has a very good reputation worldwide. For instance, the AfDB’s president, Mr Donald Kaberuka, holds an MPhil in Economics and an honorary degree from Glasgow University. Then, the University and the whole city offer excellent working conditions in terms of friendly people and staff, equipment and the relaxing environment required for a good work. Economics also gives you the opportunity of attending very interesting and useful conferences, which stress up-to-date contents of the economics world. These will surely enrich your knowledge background as well as provide useful insights for your academic dissertation. Finally, and above all, those, who like me, are from outside the UK and English is not their first language, will amazing international office which takes care of your integration within the academic context and the Scottish culture. For instance, it promotes trips and events to show you the wonders of Scotland as well as courses to improve your English skills and the techniques of preparing and writing a very good dissertation. For all of this, I strongly recommend the University of Glasgow for everyone who intends to pursue postgraduate studies.'

1Through INOV CONTACTO, an international training programme for young Portuguese graduates managed by AICEP Global Portugal (Business Development Agency) and promoted by the Ministry of Economy and Innovation of Portugal.


The Adam Smith Business School is one of an elite group of less than 1% of the world’s business schools that hold triple accreditation. The School is accredited by AACSB and EQUIS, with the MBA programme also accredited by AMBA. Triple accreditation is an internationally recognised benchmark that validates the credibility and performance of the Adam Smith Business School.

AACSB logo The AACSB Accreditation Process includes rigorous self-evaluation and peer-review elements. The Adam Smith Business School meets all of AACSB’s Accreditation Standards and was first awarded the accreditation in 2007.

Equis logoEQUIS accreditation is one of the most important benchmarks available to business schools worldwide. Institutions that are accredited by EQUIS must demonstrate not only excellence in teaching, the student experience, research and outreach, but also a high degree of internationalisation and interaction with the corporate world.

Entry requirements

for entry in 2016

2.1 Honours degree in Economics, or a related discipline such as Finance, Accounting or Management, with at least 3 credit-bearing modules in Economics and/or Finance. Students with other qualifications and/or relevant work experience can also be considered.

International students with academic qualifications below those required should contact our partner institution, Glasgow International College, who offer a range of pre-Masters 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
  • two sub-tests no less than 6.5, no sub-test less than 6.0
  • or equivalent scores in another recognised qualification (see below)

Common equivalent English language qualifications

All stated English tests are acceptable for admission for both home/EU and international students for this programme:

  • ibTOEFL: 92; no sub-test less than 20
  • CAE (Cambridge Certificate of Advanced English): 176 overall; two sub-tests no less than 176; no other sub-test less than 169
  • CPE (Cambridge Certificate of Proficiency in English): 176 overall; two sub-tests no less than 176; no other sub-test less than 169
  • PTE Academic (Person Test of English, Academic test): 60; no sub-test less than 59
  • Trinity College London Integrated Skills in English: ISEII at Distinction with Distinction in all sub-tests

For international students, the Home Office has confirmed that the University can choose to use these tests to make its own assessment of English language ability for visa applications to degree level programmes. The University is also able to accept an IELTS test (Academic module) from any of the 1000 IELTS test centres from around the world and we do not require a specific UKVI IELTS test for degree level programmes. We therefore still accept any of the English tests listed for admission to this programme.

Pre-sessional courses

The University of Glasgow accepts evidence of the required language level from the English for Academic Study Unit Pre-sessional courses. We also consider other BALEAP accredited pre-sessional courses:


What do I do if...

my language qualifications are below the requirements?

The University's English for Academic Study Unit offers a range of Pre-Sessional Courses to bring you up to entry level. The course is accredited by BALEAP, the UK professional association for academic English teaching; see Links.

my language qualifications are not listed here?

Please contact the Recruitment and International Office:


For further information about English language requirements, please contact the Recruitment and International Office:

Fees and funding

Tuition fees for 2016-17


Home and EU
Full time fee£9700
Full time fee£18900

Fees are subject to change and for guidance only


The University requires a deposit of £2000 to be paid by International (beyond the EU) applicants in receipt of an offer to this programme.

Funding opportunities

Career prospects

As a graduate you will be equipped to pursue careers oriented toward the international economy in central banks, ministries of finance, government agencies, hedge funds, commercial banks, investment banks, consulting firms, rating agencies and international organisations. Recent graduates of this programme work for organisations such as PepsiCo, HSBC and the finance section of local and national governments.

How to apply

We ask that you apply online for a postgraduate taught degree. Our system allows you to fill out the standard application form online and submit this to the University within 42 days of starting your application.

You need to read the guide to applying online before starting your application. It will ensure you are ready to proceed, as well as answer many common questions about the process.

Guide to applying online

Do I have to apply online for a postgraduate taught degree?

Yes. To apply for a postgraduate taught degree you must apply online. We are unable to accept your application by any other means than online.

Do I need to complete and submit the application in a single session?

No. You have 42 days to submit your application once you begin the process. You may save and return to your application as many times as you wish to update information, complete sections or upload additional documents such as your final transcript or your language test.

What documents do I need to provide to make an application?

As well as completing your online application fully, it is essential that you submit the following documents:

  • A copy (or copies) of your official degree certificate(s) (if you have already completed your degree)
  • A copy (or copies) of your official academic transcript(s), showing full details of subjects studied and grades/marks obtained
  • Official English translations of the certificate(s) and transcript(s)
  • Two supporting reference letters on headed paper
  • Evidence of your English Language ability (if your first language is not English)
  • Any additional documents required for this programme (see Entry requirements for this programme)
  • A copy of the photo page of your passport (Non-EU students only)

If you do not have all of these documents at the time of submitting your application then it is still possible to make an application and provide any further documents at a later date, as long as you include a full current transcript (and an English translation if required) with your application. See the ‘Your References, Transcripts and English Qualification’ sections of our Frequently Asked Questions for more information.

Do my supporting documents need to be submitted online?

Yes, where possible, please upload the supporting documents with your application.

How do I provide my references?

You must either upload the required references to your online application or ask your referees to send the references to the University as we do not contact referees directly. There is two main ways that you can provide references: you can either upload references on headed paper when you are making an application using the Online Application (or through Applicant Self-Service after you have submitted your application) or you can ask your referee to email the reference directly to See the 'Your References, Transcripts and English Qualifications' section of the Frequently Asked Questions for more information.

What if I am unable to submit all of my supporting documents online?

If you cannot upload an electronic copy of a document and need to send it in by post, please attach a cover sheet to it that includes your name, the programme you are applying for, and your application reference number.

You may send them to:

Recruitment & International Office
71 Southpark Avenue
G12 8QQ
Fax: +44 141 330 4045

Can I email my supporting documents?

No. We cannot accept email submissions of your supporting documents.

What entry requirements should I have met before applying? Where can I find them?

You should check that you have met (or are likely to have met prior to the start of the programme) the individual entry requirements for the degree programme you are applying for. This information can be found on the ‘entry requirements’ tab on each individual programme page, such as the one you are viewing now.

What English Language requirements should I have met before applying? Where can I find them?

If you are an international student, you should also check that you have met the English Language requirements specific to the programme you are applying for. These can also be found on the ‘entry requirements’ tab for each specific programme.

Further Information

Please see the Frequently Asked Questions for more information on applying to a postgraduate taught programme.

Guidance notes for using the online application

These notes are intended to help you complete the online application form accurately, they are also available within the help section of the online application form. If you experience any difficulties accessing the online application then you should visit the Application Troubleshooting/FAQs page.

  • Name and Date of birth: must appear exactly as they do on your passport. Please take time to check the spelling and lay-out.
  • Contact Details: Correspondence address. All contact relevant to your application will be sent to this address including the offer letter(s). If your address changes, please contact us as soon as possible.
  • Choice of course: Please select carefully the course you want to study. As your application will be sent to the admissions committee for each course you select it is important to consider at this stage why you are interested in the course and that it is reflected in your application.
  • Proposed date of entry: Please state your preferred start date including the month and the year. Taught masters degrees tend to begin in September. Research degrees may start in any month.
  • Education and Qualifications: Please complete this section as fully as possible indicating any relevant Higher Education qualifications starting with the most recent. Complete the name of the Institution (s) as it appears on the degree certificate or transcript.
  • English Language Proficiency: Please state the date of any English language test taken (or to be taken) and the award date (or expected award date if known).
  • Employment and Experience: Please complete this section as fully as possible with all employments relevant to your course. Additional details may be attached in your personal statement/proposal where appropriate.
  • References: Please provide the names and contact details of two academic references. Where applicable one of these references may be from your current employer. References should be completed on letter headed paper and uploaded on to your application.

Application deadlines

International applications (non-EU) deadline

There is high demand for places in the Adam Smith Business School. The University recognises that applicants from all geographical regions cannot complete and submit their applications at the same time and, to ensure fairness for international applicants, a two deadline process has been established:

  • Equal consideration deadline: 15 December 2015
  • Minority countries application window deadline: 31 March 2016

All international applications submitted before 15 December 2015 will be reviewed and processed normally with no priority given to any geographic region.

Between 16 December 2015 and 31 March 2016, priority will be given to applications which come from geographic areas which have been unable to submit applications before that point.

Please note that international applications received after 31 March 2016 may be considered for some programmes following a review of available places.

UK and EU Application Deadline

  • 22 July 2016

Classes start September 2016 and you may be expected to attend induction sessions the week before.

Application fee

A fee of £25 per application must be paid by all applicants to this programme. The application fee will be requested when you apply online and it can be paid using your credit or debit bank card.

Terms and conditions

The application fee is non-refundable so it is important that you check any specific entry requirements for the programme. If you are applying with qualifications from outside the UK then you should check the postgraduate taught entry requirements for your country: see International students: In your country

Applicants who are sponsored may have the application fee waived at the point of applying online. However if the sponsorship status changes before the student registers with the University and the student is self-funding the University reserves the right to invoice the student for the initial application fee.

Find out more about Application fees

Apply now