Global Finance (online) MSc | PGDip | PGCert

• Foundations of Finance

  You’ll be introduced to the concepts and tools that are essential for the study of modern finance theory.

  You’ll learn about the time value of money and how to measure returns and risks for individual assets and portfolios of assets, and you will meet benchmark asset pricing models, such as the CAPM.

  You will also be introduced to the idea of arbitrage in financial markets and how to use it to compute prices for new assets.

• Bond and Equity Analysis

  This module will provide you with the essential knowledge you’ll need in any area of finance in relation to the main cash instruments, and will begin under the assumption of minimal existing knowledge.

  You’ll explore both the differences and similarities between fixed income and equity analysis, progressing quickly to equip you with the skills you need to effectively analyse these instruments.

  The aim is to ensure you are able to understand how portfolio managers, corporate treasurers, investment bankers, financial analysts and traders use such securities in their various roles.

• Financial Statement Analysis

  This module will introduce you to some of the core quantitative methods of analysing financial statements data in relation to supporting business decisions.

  There is an emphasis on the analysis of financial information for assessing the fundamental value of traded securities in the global market, and for making investment decisions.

  You’ll explore how the application of quantitative methods can improve the quality of business decisions – enabling decisions that are grounded by data analysis rather than gut feelings or preferences.

  You’ll also learn to read between the lines of financial statements – how to identify and evaluate firms’ key value drivers, forecast financial information, design valuation techniques based on forecasts, issue an equity investment recommendation, and assess whether companies are appropriately priced by the market.

• Corporate Finance

  Through this module, you will acquire a thorough understanding of core theoretical principles, and become equipped with the most commonly used practical corporate finance tools that are relevant to key decisions around investments, financing and dividends.

  While these decisions are made with the aim of maximising shareholder wealth, there are a number of important factors decision-makers need to take into consideration.

  Designed and informed by academic research and case-studies this module will provide you with an in-depth understanding of these issues.

• International Banking

  This module will give you an insight into the major features of the banking business and an understanding of the different types of banks and banking activities.

  You’ll examine the changing characteristics of the banking industry and the main activities banks are involved in, and see how these different activities fit within a bank’s overall portfolio.

  You’ll also explore how different banks are pursuing different models (universal banking vs. specialised banking).

  In particular, you’ll examine the asset structure and revenue-earning features of major commercial and investment banks. You’ll also gain an understanding of their cost and return features, and of recent developments in the industry.

• Asset Management

  This module will provide you with a fundamental understanding of the structure and functioning of capital markets, the principles of investment decisions under risk, and the optimal allocation among asset classes.

  You will explore specific fund management issues related to applied asset pricing, as well as active and passive management, tactical asset allocation, investment style, the impact of transaction costs, portfolio performance measurement, and behavioural finance.

You'll take six of the nine elective modules on offer

• Investment Strategy

  This module is designed to introduce you to some of the latest developments in investment strategy.

  The majority of these new developments are grounded in academic research. This means that by completing this module, you’ll also become familiar with the underlying theories behind these new strategies.

• Derivatives

  An introduction to the main sources of financial risks faced by banks and other financial institutions; the techniques used to measure and manage these risks, and the use of risk adjusted measures of performance to guide business policy and reward staff.

  • Pricing and hedging using futures contracts.  Hedging market exposures, altering beta using stock index futures.  Interest rate futures.
  • Options and insurance.  Trading positions. Pricing of plain vanilla options – the BOPM and risk neutral valuation, Monte Carlo Simulation.  Delta hedging and the Greeks.
  • Swaps: Interest rate and currency swaps. Hedging, pricing and valuation.
  • Market risk/Value at Risk – measuring the risk of derivatives positions using the variance-covariance measure, historical simulation and Monte Carlo simulations (for options).  Simplifying the measurement issues – EWMA, using the single index model, incorporating foreign assets, mapping of coupon paying bonds.
  • Regulatory rules and regulatory capital.

• Alternative Investments

  Following the collapse of the world’s equity markets between 2001 and 2003, many investors have been investing in, or are thinking of investing in, less traditional asset classes as an alternative to equities.

  The integration of these alternative asset classes into traditional investor portfolios is still at an early stage, leaving investment managers with significant challenges as they look to satisfy investor demand for these alternatives. This module will provide you with the solid background in commodities, hedge funds, private equity and real estate that’s essential to success in today's investment management industry.

• The Insurance Industry

  Insurance has grown in importance to become a central theme in modern finance and economics, providing not only practical examples to illustrate new theories, but also inspiring new ideas of relevance for the general economy.

  Today, higher-order risk attitudes play a central role in understanding how decisions are made by consumers and managers. This module will provide you with a thorough understanding of insurance activities, including the integration of risk and insurance theory and practice into the mainstream economic theory.

  You will examine optimal decision-making within an insurance context. In particular, you will explore optimal insurance contract design under information asymmetry and moral hazard, and contemporary developments such as the economic analysis of insurance fraud.

• Global Real Estate

  This module will equip you with the knowledge you need about the most important aspects of real estate as an investment asset.

  If you’re looking to work in general business and finance, this module will give you the basis you need to understand the real estate issues you’re likely to encounter.

  If you want to specialise in real estate as an investor, fund manager or lender, this module will serve as the foundation for further development.

• Sustainable Finance

  This module aims to equip you with an in-depth understanding of sustainable finance, focusing on the integration of environmental, social, and governance (ESG) criteria into financial services and investment decisions.

  It explores the role of finance in achieving sustainable development goals (SDGs) and addresses the challenges and opportunities presented by sustainable finance. You will learn about various sustainable finance instruments, ESG risk management, regulatory frameworks, and the impact of sustainable finance on financial markets and society.

• Python for Finance

  This module introduces you to the application of Python programming in the finance sector. It is designed to equip you with the practical skills to analyse financial data, model financial markets, and implement algorithmic trading strategies using Python.

  The course covers key Python libraries such as NumPy, pandas, matplotlib, and scikit-learn, and introduces students to time series analysis, portfolio optimization, risk management, and machine learning techniques in finance.

• Blockchain, Cryptocurrency and Decentralised Finance

  This module aims to provide you with a conceptual understanding of blockchain technology and its application in cryptocurrencies and decentralized finance.

  You will gain a holistic overview of blockchain and decentralized finance, learning the basic functionality and economic mechanisms that drive these technologies. Through a combination of pre-recorded material, webinars, case studies and practical exercises you will explore the advantages, disadvantages, and risks of transacting on a blockchain and using decentralized applications.

• Macroeconomics and International Finance

  This module aims to provide you with a comprehensive understanding of macroeconomic theory and policy, with a focus on international finance. It aims to equip you with the analytical tools necessary to understand the workings of the global economy, the dynamics of exchange rates, balance of payments, and how economic policies are formulated in an interconnected world. The module covers advanced topics in macroeconomics, including fiscal and monetary policy, as well as international trade and capital movements.