MSc Finance and Investment
Please note: This page is for 2027 entry. Click here for 2026 entry.
| UCAS code | 1234 |
|---|---|
| Duration | 9 months full time 12 months full time |
| Entry year | 2026 |
| Campus | Streatham Campus |
| Typical offer | A 2:2 degree with honours in Accounting, Finance, Investment, Economics, Maths, Business or related discipline from a recognised university. |
|---|---|
Why study MSc Finance and Investment at Exeter?
- For students interested in a career in investment analysis or portfolio management
- Established in 1973, this was the very first Masters degree in finance in the UK and has gained an international reputation for providing excellent training and rigorous academic knowledge in finance and investment, and strong network in the finance industry globally
- Undertake a non-assessed financial database training course delivered by the data specialists from Bloomberg, Thomson Reuters, Bureau Van Dijk, the Standard, and Poor’s Global Market Intelligence
- You’ll have the opportunity to work towards a qualification from the CISI in addition to your MSc to increase your employability, and the opportunity to gain a QTEM certificate
- Take advantage of our Double Degree options, where you can spend your first year at Exeter and a second year at another world class international institution, resulting in two Masters degrees.
Joint 3rd for Accounting and Finance graduate prospects
Triple accredited Business School
AMBA, AACSB, EQUIS
Accredited by the Chartered Institute for Securities and Investment
Opportunity to apply to the prestigious QTEM programme or gain two degrees by joining our Double Degree programme
The sustainable finance pathway on this degree recognizes essential topics from the Certificate in ESG Investing from CFA Institute. This professional certificate offers both practical application and technical knowledge in the field of ESG investing.
Entry requirements
A 2:2 degree with honours in Accounting, Finance, Investment, Economics, Maths, Business or related discipline. Evidence of mathematical/quantitative* ability is essential. We do consider all applications where there is evidence of exceptional performance in modules relevant to the programme of study, significant relevant work experience or professional qualifications such as CFA, ACCA, ICAEW, ICAS and CIMA.
*Mathematics modules may include, for example, Algebra, Calculus, Econometrics, Statistics, Probability or Optimisation.
Pre-Masters programme for international students
The Exeter International Pre-Master's run by our International Study Centre is a pre-Masters programme designed to enhance your subject knowledge, study skills and English ability. Successful completion of the course (subject to achieving the specific grades of entry) gives students from overseas the skills needed for acceptance onto this Masters programme.
Please also see our guidance on essential documentation required for an initial decision on taught programme applications.
Entry requirements for international students
Please visit our entry requirements section for equivalencies from your country and further information on English language requirements.
Please also see our guidance on essential documentation required for an initial decision on taught programme applications.
Entry requirements for international students
English language requirements
International students need to show they have the required level of English language to study this course.
The required IELTS test scores for this course fall under Profile B1.
Please visit our English language requirements page to view the required test scores and equivalencies from your country.
Course content
The programme offers two pathways: 9-month and 12-month. The difference between the 9-month and 12 month courses is that the 12-month course includes a dissertation. Students on the 9 month course take additional taught modules to make up these learning credits. Both programmes have exactly the same entry requirements and result in exactly the same award.
Please note that the module information displayed here is subject to change.
The 9 month variant of this programme is available for study nine months full-time over three terms from September to June and is University-based throughout this time.
- During the programme you will study modules totalling 180 credits.
- Please note that programme structures may be subject to change.
- Descriptions of the individual modules are given in full on the Business School postgraduate module list.
75 credits of compulsory modules, 105 credits of optional modules
You must choose 60 credits from BEAM052, BEAM102, BEAM103 or BEAM104 to gain a 'with Sustainable Finance'
Compulsory modules
| Code | Module | Credits |
|---|---|---|
| Compulsory 1 | ||
| Financial Instruments | 15 | |
| Investment Analysis 1 | 15 | |
| Financial Modelling | 15 | |
| Fundamentals of Financial Management | 15 | |
| Quantitative Research Methods | 15 | |
BEAM031: Financial Instruments
Financial Instruments provides you with in-depth coverage of different types of financial instruments and their valuation. These instruments include equities, bonds, derivatives and alternative financial investments such as mutual funds, hedge funds, exchange traded funds and hard commodities.
The content of this module is relevant across countries as it focuses on general theories, models and concepts that are applicable universally. Some aspects of the course look at developments in developed and emerging markets.
In this module, you will develop problem-solving, numerical, analytical, and discursive skills, while acquiring knowledge and understanding of financial markets and related concepts.
BEAM032: Investment Analysis 1
Summary:
This is the first module of two in Investment Analysis. Its principal function is to ensure that you are able to use the tools available for equity valuation using annual reports. You will learn how to assess the content of annual reports critically.
Additional Information:
Pre-requisite
Basic understanding of accounting and financial statement articulation.
Internationalisation
This module uses International Financial Reporting Standards (IFRS), which apply to more than 100 countries worldwide and therefore prepare you for an international career.
Sustainability
Presentations, PowerPoint slides and tutorial notes are all made available on the ELE (Exeter Learning Environment).
External Engagement
The content helps familiarise you with financial reporting concepts and terminology, which are essential to operate in the corporate world.
Employability
You will learn to synthesise information from public sources and to evaluate a firm's performance and financial position. These analytical skills will be directly applicable to roles such as equity or credit analysts and professional investors.
BEAM046: Financial Modelling
Summary:
This module equips you with the knowledge and tools to implement financial models using Excel or other statistical packages. The module covers a range of topics in finance drawn from corporate finance, portfolio theory, fixed income analysis, risk management and international finance. The emphasis of the module is on the practical application of finance theory, with lectures on each topic followed by in-depth practical classes, in which you will work through real world problems using Excel or other statistical packages.
Additional information:
Employability
This is an applied module that covers the implementation of quantitative financial models that are widely used in financial institutions such as investment banks, mutual funds and hedge funds, and in non-financial corporations.
Internationalisation
The content of this module is relevant to the finance industry in an international setting, with examples drawn from a number of global financial markets.
Sustainability
The sustainable operation of financial markets relies on the fact that security prices reflect the fair value of the future cash flows that they promise to pay. The fair valuation of security prices is maintained by the actions of investors, who exploit deviations from fair value through the implementation of financial models such as those covered in this module.
Research in Teaching
BEAM047: Fundamentals of Financial Management
Summary:
Fundamentals of Financial Management will provide you with a thorough grounding in the principles of finance. It will cover the appraisal of models and issues in financial management. This module will introduce you to corporate finance theory and financial management. It covers techniques for capital budgeting, the role of risk and the cost of capital. It introduces the topics of financial markets and market efficiency, portfolio diversification and simple asset pricing models, the pricing of shares and bonds as well as providing an introduction to international finance.
Additional Information:
Internationalisation
Investment theory and corporate finance are international by nature and the principles taught can be applied in any country. The module also provides an introduction to international finance.
External Engagement
The module is linked with various professional bodies like CISI (Chartered Instituted of Securities and Investment) and CFAI (Chartered Financial Analysts Institute).
Employability
This module covers many different aspects of finance and prepares the students for employment in different financial sectors. Students acquire quantitative skills, analytical skills, problem-solving, and written skills.
Sustainability
BEFM022: Quantitative Research Methods
BEFM022 aims to equip you with the knowledge and abilities to undertake applied empirical research. During this module you will be introduced to various statistical techniques which are common within the accounting and Finance discipline and will be provided with coded STATA examples, tasks and relevant reading material.
The latter part of the module introduces you to the practical process of collecting data from database resources whilst using this data to create and test empirical models using STATA software. Combining knowledge and understanding from the first part of the module with larger worked-examples from the latter part, you will be able to independently conduct empirical research and apply the necessary statistical techniques.
This module prepares you for the dissertation stage (or equivalent) of the Accounting and Finance MSc and other equivalent programs - where you are required to conduct empirical analysis based upon a particular research question. This module will provide the basic skills and knowledge-set required to perform this task. More broadly, the course will help you later in your career to perform independent empirical research as well as to be able to read and understand published academic research in Accounting and Finance disciplines.
The module objectives are fourfold:
Optional modules
| Code | Module | Credits |
|---|---|---|
| Optional 1 | ||
| Banking and Financial Services | 15 | |
| Derivatives Pricing | 15 | |
| Domestic and International Portfolio Management | 15 | |
| International Financial Management | 15 | |
| Advanced Corporate Finance | 15 | |
| Corporate Governance and Finance | 15 | |
| Mergers, Management Buyouts and Other Corporate Reorganisations | 15 | |
| Financial Institutions' Risk Management | 15 | |
| Climate Finance and Investments | 15 | |
| Sustainable and Responsible Finance | 15 | |
| Applied Econometrics 1 | 15 | |
| Macroeconomics | 15 | |
| Microeconomics | 15 | |
| Optimisation Techniques for Economists | 15 | |
Please note that the module information displayed here is subject to change.
The 12 month variant of this programme is available for study twelve months full-time from September to September and is University-based throughout this time.
- During the programme you will study modules totalling 180 credits.
- Please note that programme structures may be subject to change.
- Descriptions of the individual modules are given in full on the Business School postgraduate module list.
120 credits of compulsory modules, 60 credits of optional modules
You must choose 30 credits from Compulsory Choice Module Group
You must choose BEAM101 and 30 credits from BEAM052, BEAM102, BEAM1039 or BEAM104 to gain a 'with Sustainable Finance'
Compulsory modules
| Code | Module | Credits |
|---|---|---|
| Compulsory 2 | ||
| Financial Instruments | 15 | |
| Investment Analysis 1 | 15 | |
| Investment Analysis 2 | 15 | |
| Financial Modelling | 15 | |
| Fundamentals of Financial Management | 15 | |
| Quantitative Research Methods | 15 | |
| Compulsory Choice | ||
| Investment Analysis Dissertation | 30 | |
| Coding Analytics for Accounting and Finance | 30 | |
| Sustainable Finance Project | 30 | |
| Dissertation | 30 | |
BEAM038: Investment Analysis 2
This module involves developing and appraising critically a set of competing models of corporate valuation, including the dividend discount model (DDM), the discounted free cash flows (FCFE) model, the residual income valuation model (RIVM), the abnormal earnings growth model (AEG), and their reconciliation. It covers forecasting of earnings and estimating the discount rate in valuation. It also establishes links between fundamental valuation models and value multiples. Finally, it discusses equity investment informed by the firm's fundamental analysis.
Additional Information:
Research in Teaching
The whole module is informed by academic research, in particular by the module lead.
Investment Analysis 2 aims to teach you various equity valuation techniques and apply them to the valuation of equities in major industrial sectors. The variety of geographic, industrial and other specialised circumstances requires careful selection of appropriate valuation methods and the interpretation of different standards of financial reporting and disclosure. This involves developing and appraising critically a set of competing models of corporate valuation critically. Ultimately, the aim is to give you the ability to produce equity research reports to professional standards.
BEAM007: Investment Analysis Dissertation
This module centres on an investment analysis of a real, topically interesting company. You will produce a detailed analyst's company report, using a range of company stock valuation methods to determine the market value of the company, employ financial analysis tools and analyse the macroeconomic and competitive markets in which the company operates.
The module aims to enable you to conduct an in-depth investment analysis case study on a single company drawn from a list of topically interesting companies selected by the module leader. The case study exercise aims to provide you with the opportunity to demonstrate, in the development of a detailed analyst's company report, the skills and knowledge acquired in the area of investment analysis.
BEAM079: Coding Analytics for Accounting and Finance
Using Python as its core language, students will engage in an intensive program of coding and analytics using up-to-date software and methodology . You are not required to have any previ ous coding experience but the module would be suited to those with a good level of analysis, statistics, and problem - solving abilities. By the end of this module you will have undertaken several projects and challenges related to the Accounting and Finance literature, with the skills and knowle dge acquired being easily transferable to other disciplines and pathways. Python will be used to perform complex analytics on various contemporary Accounting and Finance research areas such as fraud detection, social network analysis and textual/sentiment analysis. By the end of this course you will h ave a good understanding of up-to-date research methods and be able to use software and technologies in order to independently tackle complex problems. With the fast evolution of AI, analytics and data science within the workplace, this module is an ideal way to equip you with the tools and knowledge required to stand out in an increasingly competitive employment market.
BEAM101: Sustainable Finance Project
Sustainable finance integrates environmental, social and governance (ESG) criteria into financial decisions. This module will introduce you to the latest developments in theory and practice in sustainable and responsible finance. You will develop an understanding of the principles underlying sustainable and responsible decision-making in finance, their theoretical underpinning, and how to apply them in business and investment practice. This module is delivered in an intensive block over two weeks. Content is delivered by experts in their field, and you will have opportunities to share, reflect, and engage with practitioners in workshops. At the end of the module, you will complete a sustainable finance project and develop an action plan that promotes sustainable finance in your professional or organisational context.
The module aims to:
- introduce you to cutting-edge theory and practice in sustainable and responsible finance
- develop your in-depth insight into the strategic implications of environmental and sustainability challenges for financial systems
- enhance your employability by engaging you with the latest developments in sustainable and responsible finance and their implications for business and investment practice
- develop your critical understanding of how sustainability principles are applied in practice
- equip you with practical application and technical knowledge relevant to the CFA Sustainable Investing Certificate (optional)
BEFM027: Dissertation
Summary:
The module provides you with the opportunity to independently produce a carefully designed, original and scientifically rigorous piece of research examining a topic drawn from the field of finance. In the course of the dissertation, you will: develop a research proposal; critically review the relevant literature; collect the appropriate data; develop testable hypotheses; undertake empirical research to test the hypotheses; write up the results of your research. While the dissertation is largely an independent piece of work, you will have periodic meetings with your supervisor to discuss your progress.
Additional Information:
Internationalisation
The module is relevant to the subject of finance in an international setting. All of the dissertation topics are concerned with theory and empirical evidence that is applicable to global financial markets. Some of the topics explicitly deal with international aspects of finance
Employability
Optional modules
| Code | Module | Credits |
|---|---|---|
| Optional 1 | ||
| Banking and Financial Services | 15 | |
| Derivatives Pricing | 15 | |
| Domestic and International Portfolio Management | 15 | |
| International Financial Management | 15 | |
| Advanced Corporate Finance | 15 | |
| Corporate Governance and Finance | 15 | |
| Mergers, Management Buyouts and Other Corporate Reorganisations | 15 | |
| Financial Institutions' Risk Management | 15 | |
| Climate Finance and Investments | 15 | |
| Sustainable and Responsible Finance | 15 | |
| Applied Econometrics 1 | 15 | |
| Macroeconomics | 15 | |
| Microeconomics | 15 | |
| Optimisation Techniques for Economists | 15 | |
Please note that the module information displayed here is subject to change.
This pathway allows you to select specific modules that will allow you to graduate in MSc Finance and Investment with Sustainable Finance.
The Sustainable Finance pathway will equip you to embed green and sustainable finance principles and practice into your advice, analysis, actions and decision. The finance industry is increasingly recognising the importance of integrating sustainability considerations into decision-making processes and companies, investors, and regulators are seeking professionals who possess both financial expertise and knowledge of sustainable practices. This pathway will provide you with specialist skills in this area.
You will learn from research expertise developed within the Exeter Sustainable Finance Centre, which will introduce you to cutting-edge theory and practice in sustainable and responsible finance. Leading academics actively engaged in research on climate finance, environment and sustainability will deliver these modules, which are designed to give insight into theory that has been important in shaping agendas relating to global sustainability.
This pathway is certified by the CFA Institute as recognising essential topics in ESG investing.
Modules
Students must study 60 credits from:
| Code | Module title | Credits |
|---|---|---|
| BEAM052 | Corporate Governance and Finance | 15 |
| BEAM104 | Sustainable and Responsible Finance | 15 |
| BEAM103 | Climate Finance and Investments | 15 |
| BEAM102 | Financial Institutions Risk Management | 15 |
Please note that the module information displayed here is subject to change.
This pathway allows you to select specific modules that will allow you to graduate in MSc Finance and Investment with Sustainable Finance.
The Sustainable Finance pathway will equip you to embed green and sustainable finance principles and practice into your advice, analysis, actions and decision. The finance industry is increasingly recognising the importance of integrating sustainability considerations into decision-making processes and companies, investors, and regulators are seeking professionals who possess both financial expertise and knowledge of sustainable practices. This pathway will provide you with specialist skills in this area.
You will learn from research expertise developed within the Exeter Sustainable Finance Centre, which will introduce you to cutting-edge theory and practice in sustainable and responsible finance. Leading academics actively engaged in research on climate finance, environment and sustainability will deliver these modules, which are designed to give insight into theory that has been important in shaping agendas relating to global sustainability.
During the summer, you will conduct a Sustainable Finance Project to solve real-world problems and create positive impact, leading to a sustainable future world through transformative research, education and engagement.
This pathway is certified by the CFA Institute as recognising essential topics in ESG investing.
Modules
Students must study BEAM101 Sustainable Finance Project (30 credits) and choose another 30 credits from:
| Code | Module title | Credits |
|---|---|---|
| BEAM052 | Corporate Governance and Finance | 15 |
| BEAM103 | Climate Finance and Investments | 15 |
| BEAM102 | Financial Institutions Risk Management | 15 |
| BEAM104 | Sustainable and Responsible Finance | 15 |
Fees
2026/27 entry
UK fees per year:
£19,900 full-time
International fees per year:
£32,600 full-time
Scholarships
The University of Exeter offers a wide range of scholarships to support your education, with £7 million available for international students applying to study with us in the 2026/27 academic year, including our prestigious Exeter Excellence Scholarships. We also provide awards for sport, music and other achievements, as well as regional and partner scholarships with organisations such as Chevening, The Beacon Trust and the British Council. For more information on scholarships and other financial support, please visit our scholarships and bursaries page.
University of Exeter Alumni Scholarship
We are pleased to offer the University of Exeter Alumni Scholarship, a scholarship for University of Exeter alumni beginning a standalone postgraduate programme in 2026/27 with us a scholarship worth 20% of the cost of your first year tuition fees.
Terms and conditions, including deadlines, apply.
Teaching and research
Our postgraduate taught programmes utilise a range of teaching methods including lectures, seminars, tutorials, and practical case study workshops.
Lectures
The aim of lectures is to give you information on ideas that are central to the module and to help you in developing your understanding of complex ideas. Many of the teaching materials for lectures are made available to you electronically to accompany the notes you take during the lecture. Lectures are given by a range of staff members, including leading professors, who integrate their latest research findings into the teaching that you receive. Guest lecturers, including senior experts from industry, also contribute to some modules.
Seminars and tutorials
Seminars and tutorials involve an in-depth exploration of the issues covered in lectures as well as giving you the opportunity to discuss various concepts and theories and receive feedback on your written assignments.
Practical case study classes and workshops
Practical case study computer-based classes are an integral part of the programme built within many modules, where students are able to apply specialist knowledge and quantitative analytical skills to solve complex financial problems under the guidance from our industry-leading faculty.
Training workshops
You’ll attend an intensive financial database and technology training workshop covering most widely used databases such as Bloomberg, S&P capital IQ, Refinitiv Eikon, WRDS, with application in STATA, R, Matlab or Phyton
We also run a company analysis workshop run by an industry practitioner to help develop practical investment understanding, augment presentation skills and provide an insight into current real-world information
Research-led teaching
Our research is rated as world-leading or internationally excellent in the Research Excellence Framework (REF) 2021.
We are a research intensive faculty and cover a wide range of themes which inform our teaching. Our research is driven by the understanding that accounting and finance continues to play a fundamental role in organisations and society. As a result, many of our inspiring academics are regularly invited to advise policy-makers at institutions including H.M Revenue and Customs, International Accounting Standards Board, Financial Reporting Council, the Pensions Regulator, and the Bank of England.
Taught by leading experts
You will be taught by internationally respected academics who are at the forefront of their research. We draw upon disciplines across the social sciences and give emphasis to the dynamic nature of enterprise, global connectivity and the management and leadership of the global challenges that lie ahead.
Our interdisciplinary research addresses a wide range of challenging research questions, including areas of environmental, social and governance aspects of accounting and finance.
Conduct your own research
During the 12 month programme, you will be able to undertake an impactful research project as your dissertation under the supervision of our world-leading academics.
The Business School is home to the following research centres
- Centre for Innovation in Business Education
- Centre for Responsible Innovation (CRI)
- Centre for Simulation, Analytics and Modelling (CSAM)
- Exeter Centre for Leadership (ExCL)
- Exeter Centre for Social Networks (ECSN)
- Exeter Sustainable Finance Centre (ESF)
- Initiative in the Digital Economy at Exeter (INDEX)
- Land, Environment, Economics and Policy Institute (LEEP)
- Research Methods Centre
- Tax Administration Research Centre (TARC)
- The Exeter Centre for Circular Economy (ECCE)
The University of Exeter presents an outstanding environment for academic excellence. I’ve had the opportunity to interact with lecturers who are experts in their respective fields and who prove their worth by the quality of their delivery.
Adedeji
MSc Finance and Investment
Careers
Preparing you for success
This Masters degree is designed to prepare you for a successful career, wherever in the world you plan to work. We’ll prepare you for your career by teaching you advanced communication and technical skills, team-working and independent research, project-management and the very latest specialist knowledge.
Develop employer-valued skills
Our MSc in Finance & Investment will enable you to develop the professional and financial skills and subject expertise that makes you a valuable asset from day one of your career.
Career paths
Graduates can look forward to working in a diverse range of roles, two of the most popular being:
- Investment Analyst (market research, analysis of funds, trends for strategic planning)
- Investment/Portfolio Manager (dealing with client’s portfolio & completing transactions)
Choose modules to suit your future career
By carefully selecting the research topic for your dissertation and your optional modules such as corporate finance, corporate governance, derivatives, international financial management, mergers or financial economics, you can start to develop a specialisation to enhance your employability.
Developing applied quantitative analytical skills through using Bloomberg, S&P capital IQ, WRDS Datastream and other financial databases and software systems as part of your modules, you will also have the latest technical know-how to kick-start your career.
Potential employers
- Investment management companies where analysts provide information to in-house fund managers
- Stockbrokers and investment banks, where the analysts' research assists clients of their company, usually fund managers but sometimes also company executives and directors
- Wealth management divisions of investment banks
- Institutional investors, such as large charities, pension funds and life assurance companies
- Hedge funds
- Government or public organisations
- SMEs (small and medium-sized enterprises)
Graduate training routes
Multi-nationals such as Bank of America Merrill Lynch, Barclays, HSBC, Vanguard Asset Management, Credit Suisse, Citibank, Amundi and Deutsche Bank have graduate training routes in many countries in which they are based. Country-specific banks like China Construction Bank and Bank of China (Hong Kong) and smaller organisations across the world also offer graduate training routes and employment opportunities with specific recruitment cycles appropriate to their local employment market.
Previous graduates from this programme have secured roles as financial analysts with a range of organisations including Coutts (UK), KPMG (Vietnam), HSBC (Vietnam), J.P. Morgan First Capital, Ernst & Young (India), Bank of China and Ford Motor Company.
Further information can be found at:
- eFinancialCareers
- Prospects.ac.uk - Types of jobs: Accountancy, banking and finance
- TARGETjobs - Finance graduate careers advice
Developing your skills and career prospects
The University of Exeter Business School provides a range of support to help you develop skills attractive to employers. Visit our Business School careers service web page for more information.
Enhance your degree with Study Abroad opportunities
QTEM Programme*
After your first year of studies at Exeter, you can progress onto the QTEM Programme. QTEM aims to prepare students with excellent quantitative and analytical skills to support their future careers as decision makers leading the global business environment.
If you are accepted onto the QTEM Programme, you will spend an additional semester studying at one of the prestigious academic partners. This will be followed by a quantitatively focussed internship and participation in the QTEM Data Challenge which includes online data science and leadership courses as well real data analysis.
Students will be selected and nominated to QTEM by the University of Exeter Business School following a competitive internal application process. Places are limited so we recommend you register your interest before applying for your Masters.
*Open to high achieving students enrolled in the following University of Exeter Business School programmes: MSc Finance, MSc Finance and Investment, MSc Financial Economics, MSc Economics, MSc Business Analytics and MSc Marketing and Business Analytics.
For more information on QTEM and Double Degrees and other postgraduate study abroad opportunities, visit the Business School’s Study Abroad webpages.