Study information

Programme Specification for the 2022/3 academic year

MSc Finance and Investment (12 months)

1. Programme Details

Programme nameMSc Finance and Investment (12 months) Programme codePTS1SBESBE27
Study mode(s)Full Time
 Academic year2022/3
Campus(es)Streatham (Exeter)
 NQF Level of the Final Award7 (Masters)

2. Description of the Programme

 

Established in 1973, the MSc Finance and Investment was the very first Master’s degree in finance in the UK. Over the past 40 years, the programme has gained an international reputation for providing excellent training for those who are interested in following a career in investment analysis, corporate finance and portfolio management. The programme provides a broad knowledge in finance, combined with practical application, to help graduates develop the confidence and ability for a challenging career in finance.

 

The programme has been accredited by the Chartered Institute for Securities and Investment (CISI) since 2008 and has been awarded CISI Centre of Excellence status.  Students on this programme have the opportunity to pursue a professional qualification from the CISI alongside their master's degree, with the full support of the University of Exeter.

This is a full-time programme, completed over a twelve month period. In the first semester you will gain a firm foundation in research methods for investment and finance, investment analysis, financial management, and financial instruments. In the second semester you can choose four optional modules in addition to the investment analysis dissertation. In addition, non-assessed intensive computer training covering Thomson Reuters Datastream and other financial databases and software systems, is incorporated into relevant modules.

3. Educational Aims of the Programme

  • The programme is intended to provide students with the in-depth skills necessary to analyse problems arising in the field of finance and investment and to reach reasoned solutions to these.
  • The taught modules are intended to bring students up to date with results and issues arising in several of the core areas of academic financial research.
  • Practical sessions are intended to provide students with the additional skills necessary to apply their knowledge to complex situations arising currently in financial markets.
  • It is intended that students completing the programme will be equipped to follow careers either directly in financial markets (investment analysts, portfolio managers, corporate financiers) or more widely in the corporate world (consultants, strategists, managers), or in specialist research programmes.

4. Programme Structure

The MSc Finance and Investment (12 month) is a programme of study over a period of t2 months at National Qualification Framework (NQF) level 7 (as confirmed against the FHEQ). The programme is also divided into units of study called ‘modules’ which are assigned a number of ‘credits’. The credit rating of a module is proportional to the total workload, with 1 credit being nominally equivalent to 10 hours of work.

 

Interim Awards

 

Postgraduate Diploma:

(a) A Postgraduate Diploma is awarded when a student gains at least 120 credits including at least 90 at Level M on a designated programme.

Postgraduate Certificate:

(a) A Postgraduate Certificate is awarded when a student gains at least 60 credits including at least 45 at Level M on a designated programme.

5. Programme Modules

The following tables describe the programme and constituent modules. Constituent modules may be updated, deleted or replaced as a consequence of the annual programme review of this programme.

Stage 1

120 credits of compulsory modules:

A) You must take either BEAM007 or BEFM027. 

Compulsory Modules

CodeModule Credits Non-condonable?
BEAM031 Financial Instruments 15No
BEAM046 Financial Modelling 15No
BEAM072 Principles of Finance 15No
BEAM032 Investment Analysis 1 15No
BEFM022 Quantitative Research Methods 15No
BEAM038 Investment Analysis 2 15No
BEAM007 Investment Analysis Dissertation or BEAM101 or BEFM027 or BEAM07930No
BEFM027 Dissertation or BEAM101 or BEAM007 or BEAM07930No
BEAM079 Coding Analytics for Accounting and Finance or BEAM101 or BEAM007 or BEFM02730No
BEAM101 Sustainable Finance Project or BEAM007 or BEFM027 or BEAM07930No

Optional Modules

60 credits of optional modules:

CodeModule Credits Non-condonable?
BEAM050 Advanced Corporate Finance 15No
BEAM033 Banking and Financial Services 15No
BEAM035 Derivatives Pricing 15No
BEAM036 Domestic and International Portfolio Management 15No
BEAM042 International Financial Management 15No
BEAM052 Corporate Governance and Finance 15No
BEAM053 Mergers, Management Buyouts and Other Corporate Reorganisations 15No
BEAM029 Topics in Financial Economics 15No
BEEM103 Optimisation Techniques for Economists 15No
BEEM011 Applied Econometrics 1 15No
BEEM100 Macroeconomics 15No
BEEM101 Microeconomics 15No
BEEM015 Industrial Economics and Strategy 15No
BEEM117 Economics of Corporate Finance 15No
BEAM065 Bank Management 15No
BEAM101 Sustainable Finance Project 30No
BEAM079 Coding Analytics for Accounting and Finance 30No

6. Programme Outcomes Linked to Teaching, Learning and Assessment Methods

Intended Learning Outcomes
A: Specialised Subject Skills and Knowledge

Intended Learning Outcomes (ILOs)
On successfully completing this programme you will be able to:		Intended Learning Outcomes (ILOs) will be...
...accommodated and facilitated by the following learning and teaching activities (in/out of class):...and evidenced by the following assessment methods:

1. critically analyse problems arising in portfolio management, corporate finance, financial instruments and investment analysis (including where appropriate international issues);
2. critically analyse relevant data underpinning companies’ financial decisions and financial market phenomena, drawn from financial databases and employing finance data analysis techniques and software packages
3. tackle complex finance problems using structured approaches drawn from a range of quantitative and qualitative models and methods;
4. support their conclusions with reference to current academic and practitioner research, and be able to present them orally and in written form.

A1:

BEAM031 (ILO1), BEAM046 (ILOs 4-11), BEAM072 (ILOs 1-7), BEAM032 (ILOs1-5), BEFM022 (ILOs 1,3, 7), BEAM038 (ILOs1-7), BEAM007 (ILOs1-13), BEFM027 (ILO2)

 

A2:

BEAM031 (ILO1), BEAM046 (ILOs2-3), BEAM032 (ILO2), BEFM022 (ILOs 1-7), BEAM038 (ILOs 4, 6), BEAM007 (ILOs 2-3, 5-6), BEFM027 (ILO3)

 

A3.

BEAM031 (ILO2), BEAM046 (ILOs 1-11), BEAM072 (ILOs2, 5), BEAM032 (ILOs 2-3), BEFM022 (ILOs1-7), BEAM038 (ILOs4-6), BEAM007 (ILOs3-5,7-8,10-11) , BEFM027 (ILO4)

 

A4.

BEAM046 (ILOs 1-23) via a group assignment reports

BEFM022 (ILOs 13-14) via Section B of written exam

BEAM038 (ILOs 7-9)

BEAM032 (ILOs 8-9) via 2 group problem sets

BEAM007 (ILOs1, 7,9 -10, 13), project proposal 1,200 words + final project report 12,000 words

BEFM027 (ILOs 1, 5), dissertation proposal 1,200 words + final dissertation of 12,000 words

Assessment takes place through written examinations (A1-A3):

  • BEAM031: 100%,
  • BEAM072: 20% Mid-Term + 80% Final
  • BEAM032: 70%
  • BEFM022: 20% Mid-Term + 80% Final
  • BEAM038: 100%
  • BEAM046 (ILOs 1- 19): 40% individual computer based exam

 

By written assignments (A1- A4):

  • BEAM046 (ILOs 1 – 23): 50% Group
  • BEAM032: 30% with group assignment
  • BEAM007/BEFM027: 100%, project with 12,000 words

 

By personal presentations (A4):

  • BEAM046 (ILOs 1-23): group assignment has an individual component for the peer evaluation for individual contribution including personal presentation (10%)
  • BEAM007/BEFM027, proposal to be presented to the supervisor

Intended Learning Outcomes
B: Academic Discipline Core Skills and Knowledge

Intended Learning Outcomes (ILOs)
On successfully completing this programme you will be able to:		Intended Learning Outcomes (ILOs) will be...
...accommodated and facilitated by the following learning and teaching activities (in/out of class):...and evidenced by the following assessment methods:

5. develop rigorous theoretical arguments based on mathematical and analytical reasoning;
6. rigorously analyse problems in finance and investment;
7. interpret financial data and problems in the light of established theories;
8. access a wide body of empirical research literature and critically appraise it;
9. use relevant databases, existing research literature and techniques to conduct a detailed investigation of problems arising in finance.

Classes, assigned exercises, practical classes (B5-B7)

  • BEAM031: weekly 2hrs lectures + 1hr tutorials
  • BEAM046 (ILOs 12-18): weekly 2hrs lectures + 20minutes online quizzes, 3hrs weekly guided case studies

 

  • BEAM072: weekly 2hrs lectures + 1hrs seminar problems
  • BEAM032: weekly 3hrs lectures + 3 x 2hrs tutorials
  • BEFM022: weekly 2hrs lectures + 1hr tutorials, weekly homework + online mini quizzes, 2 mock assignments
  • BEAM038: weekly 2hrs lectures + 1hr practical classes, one mock examination
  • BEAM007/BEFM027 (ILOs 6-7): individual 5hrs contact hours supervision + proposal and finial project feedback

 

Preparation and presentation of reports requiring critical surveys of empirical literature (B8-B9):

  • BEAM046 (ILOs 1-23): group assignment
  • BEAM007/BEFM027(ILOs 6-8): proposal + final project reports

 

Class solution of assigned problems developing the use of concepts and models (B5 and B7):

BEAM031, BEAM046, BEAM072, BEAM032, BEFM022, BEAM038

A

Assessment through examinations (B5-B8):

 

  • BEAM031 (ILOs1-12)
  • BEAM072 (ILOs 1 – 13)
  • BEAM032 (ILOs 1-9)
  • BEFM022 (ILOs1-14)
  • BEAM038 (ILOs1-9)
  • BEAM046 (ILOs 1-19): 40% individual exam

 

 

 

Written reports (B1- B9):

 

  • BEAM046 (ILOs 1- 23): 50%  group work
  • BEAM032: ILOs 1-9
  • BEAM007: ILOs 1-13
  • BEFM027: ILOs 1 - 12

 

 

 

Personal presentations (B8-B9)

 

  • BEAM046 (ILOs 1-23): group assignment has an component for the peer evaluation (10%) for individual contribution including personal presentation
  • BEAM007/BEFM027 (ILOs 1,6,9-12): proposal to be presented and discussed with supervisor on individual basis

 

Intended Learning Outcomes
C: Personal/Transferable/Employment Skills and Knowledge

Intended Learning Outcomes (ILOs)
On successfully completing this programme you will be able to:		Intended Learning Outcomes (ILOs) will be...
...accommodated and facilitated by the following learning and teaching activities (in/out of class):...and evidenced by the following assessment methods:

10. CONFIDENT COMMUNICATOR: Able to adapt and adjust both written and verbal communication styles, to meet the needs of diverse audiences.
11. INNOVATIVE PROBLEM-SOLVER: Able to confidently explore challenges from different perspectives, to creatively offer practical and timely solutions.
12. PROACTIVE COLLABORATOR: Able to actively build strong working relationships with others to have positive outcomes.
13. DIGITALLY FLUENT: Able to embrace a variety of digital technologies to critically source, process and communicate information.
14. RESILIENT SELF-ADVOCATE: Able to develop self-awareness through a commitment to learning from experiences and taking responsibility for personal growth.
15. CRITICAL THINKER: Able to proactively analyse and evaluate information from a variety of sources to draw independent and well-founded conclusions.
16. GLOBALLY ENGAGED: Able to recognise diverse individual and cultural perspectives, in order to communicate on interconnected world issues and sustainable decisions

C10

BEAM046 and BEAM032 prepare students to effectively present results and work in a group setting of diverse members.

 

 

 

 

C11

BEAM032 Investment Analysis 1 requires students to critically assess the content of annual reports and to develop a framework for assessing a firm’s financial performance.

 

BEAM031 Financial Instruments asks students to use critical company and industry analysis for valuing equity securities.

 

BEAM050 Advanced Corporate Finance asks students to rigorously analyse quantitative problems

 

 

C12.

  • BEAM046 (ILOs 21-23)requires that students collaborate on a group assignment to evaluate investment portfolios.
  • BEAM032 requires the students to work together to solve problems put forth by the lecturer.

 

C13.

  • BEAM032 familiarises students with the standards expected by the International Accounting Standards Board (IASB)
  • BEAM046 (ILOs 4,9,10,11,13,16,17) looks at the sustainable operation of financial and fair valuation of security prices.
  • BEAM047 Fundamentals of Financial Management states that students will learn about the fair valuation of financial assists which is of interest to those involved in sustainability.

C14.

  • BEAM046 (ILOs 1-18) instructs students in the advanced use of Excel and Visual Basic for Applications (VBA)
  • BEAM007 requires students to use independent skills including use of library and relevant financial databases and to develop analytical and report-writing skills in an applied investment setting.

C15

  • BEAM032 requires students to critically assess the content of annual reports and to develop a framework for assessing a firm’s financial performance.
  • BEAM046 (ILOs 19-23) emphasises real world application of finance theory using practical classes used following lectures. The module covers the implementation of quantitative financial models and includes financial statement analysis, passive and active portfolio management, risk management and the valuation of exchange rates.
  • BEAM031 aims to give students insights into practical aspects of fund management through lectures/seminars by senior fund managers
  • BEAM072 introduces students to finance theory and financial management, and analyses models and evidence relating to a firm’s optimal capital structure and appropriate dividend policy.
  • BEFM022 requires the students to develop rigorous theoretical arguments based on mathematical and analytical economic reasoning, to analyse quantitative problems, interpret financial data, and critically appraise empirical research literature using fundamental quantitative techniques that are essential for a financial analyst, such as basic statistics, probability theory and regression analysis

 

  • BEAM038 requires students to critically apply ‘new’ paradigms, and critically review research reports and data sources.
  • BEAM007 requires students to 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. to develop and demonstrate their ability to
  • BEFM027 (ILOs 9) requires students to independently formulate and undertake original and rigorous research in the field of finance. In particular, students are expected to form an original research proposal that extends the existing academic literature, develop a number of testable hypotheses, obtain the appropriate data to test those hypotheses, undertake an empirical analysis of the data using appropriate quantitative techniques, and to present the results of their research in an appropriate scientific format.

 

 

C16.

  • BEFM022 incorporates new research on investment from various countries, and is taught to the internationally recognised CFA syllabus.  
  • BEAM046 (ILOs 21-23) addresses the international aspects of finance through the estimation of the fair value of exchange rates
  • BEAM031 explores universally applicable theories, models, and concepts relevant across countries and developments in developed and emerging markets.
  • BEAM072 states that investment theory and corporate finance are international by nature and the principles taught can be applied in any country.
  • BEAM032 uses International Financial Reporting Standards (IFRS) which apply to more than 100 countries around the world.
  • BEAM007 centres on an investment analysis of a real, topically interesting, company in international equity markets
  • BEFM027 (ILOs 10 -12) 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
  • BEAM038 expects students to Be able to understand and respond creatively to cross-border financial analysis in industrial sectors.

C10.

  • BEFM022: Examinations
  • BEAM046 (ILOs 1-23): Individual assignment and group assignment
  • BEAM031: Exam
  • BEAM072: Examination and case study analysis and presentation
  • BEAM032 (ILOs 1-5): Exam and Group Problem sets

C11.

  • BEAM032 (ILO 5): Examination and coursework
  • BEAM046 (ILOs 1 -23): Individual assignment and group assignment
  • BEAM031 (ILOs 3, 4, 5 -9 and 12): Examination (Module
  • BEAM072 (ILOs 8-10):  Examination and case study analysis and presentation
  • BEFM022 (ILOs 1-11,14): Mid term exam and final exam
  • BEAM038 (ILOs 1-9):Examination
  • BEAM007 (ILOs 1-11): Dissertation

 C12.

  • BEAM046 (ILOs 1-23) Group assignment
  • BEAM032 (ILOs 1-8): Group Problem Sets

C13.

  • BEAM032: Examination and coursework
  • BEAM046 (ILOa 1-23) Examination and group written assignment
  • BEAM072: Examination and case study analysis and presentation
  • BEAM038 (ILO 5): Examination

C14.

BEAM046 (ILOs 1- 23): group assignment

7. Programme Regulations

Credit

Postgraduate (PG) Programmes: The programme consists of 180 credits. The pass mark for award of credit in PG modules (NQF level 7) is 50%.

Progression

Condonement is the process that allows you to be awarded credit (and so progress to the next stage or, in the final stage, receive an award), despite failing to achieve a pass mark at a first attempt. You are not entitled to reassessment in condoned credit.

Postgraduate (PG) Programmes: Up to 45 credits of failure can be condoned on the following conditions: 

a. You must have completed and been assessed in modules amounting to sufficient credit for the final award (i.e. 180 credits for a Masters; 120 credits for a PGDip; and 60 credits for a PGCert).

b. You must pass the modules marked with a 'Yes' in the 'non-condonable' column in the tables above.

c. You must achieve an average mark of at least 50% across the full 180 credits of assessment in the stage, including any failed and condoned modules.

Classification

The marking of modules and the classification of awards broadly corresponds to the following marks:

Postgraduate Degrees

Distinction   70%+

Merit            60-69%

Pass            50-59%

Full details of assessment regulations for UG programmes and PGT programmes assessment regulations can be found in the Teaching Quality Assurance Manual (TQA) on the University of Exeter website.  Generic marking criteria are also published here.

Please see the Teaching and Quality Assurance Manual for further guidance.

Classification

Full details of assessment regulations for all taught programmes can be found in the TQA Manual, specifically in the Credit and Qualifications Framework, and the Assessment, Progression and Awarding: Taught Programmes Handbook. Additional information, including Generic Marking Criteria, can be found in the Learning and Teaching Support Handbook.

8. College Support for Students and Students' Learning

Personal and Academic tutoring: It is University policy that all Colleges should have in place a system of academic and personal tutors. The role of academic tutors is to support you on individual modules; the role of personal tutors is to provide you with advice and support for the duration of the programme and extends to providing you with details of how to obtain support and guidance on personal difficulties such as accommodation, financial difficulties and sickness. You can also make an appointment to see individual teaching staff.

 

Student/Staff Liaison Committee enables students & staff to jointly participate in the management and review of the teaching and learning provision.

 

The Postgraduate Student Handbook can be accessed via ELE at the following address: http://vle.exeter.ac.uk/course/view.php?id=1645

9. University Support for Students and Students' Learning

Please refer to the University Academic Policy and Standards guidelines regarding support for students and students' learning.

10. Admissions Criteria

Undergraduate applicants must satisfy the Undergraduate Admissions Policy of the University of Exeter.

Postgraduate applicants must satisfy the Postgraduate Admissions Policy of the University of Exeter.

Specific requirements required to enrol on this programme are available at the respective Undergraduate or Postgraduate Study Site webpages.

11. Regulation of Assessment and Academic Standards

Each academic programme in the University is subject to an agreed College assessment and marking strategy, underpinned by institution-wide assessment procedures.

The security of assessment and academic standards is further supported through the appointment of External Examiners for each programme. External Examiners have access to draft papers, course work and examination scripts. They are required to attend the Board of Examiners and to provide an annual report. Annual External Examiner reports are monitored at both College and University level. Their responsibilities are described in the University's code of practice. See the University's TQA Manual for details.

(http://as.exeter.ac.uk/support/admin/staff/qualityassuranceandmonitoring/tqamanual/fullcontents/)

12. Indicators of Quality and Standards

Certain programmes are subject to accreditation and/or review by professional and statutory regulatory bodies (PSRBs).

13. Methods for Evaluating and Improving Quality and Standards

The University and its constituent Colleges review the quality and standard of teaching and learning in all taught programmes against a range of criteria through the procedures outlined in the Teaching Quality Assurance (TQA) Manual Quality Review Framework.

14. Awarding Institution

University of Exeter

15. Lead College / Teaching Institution

Faculty of Environment, Science and Economy (ESE)

16. Partner College / Institution

Partner College(s)

Not applicable to this programme

Partner Institution

Not applicable to this programme.

17. Programme Accredited / Validated by

0

18. Final Award

MSc Finance and Investment (12 months)

19. UCAS Code

Not applicable to this programme.

20. NQF Level of Final Award

7 (Masters)

21. Credit

CATS credits

180

 ECTS credits

90

22. QAA Subject Benchmarking Group

23. Dates

Origin Date

02/06/2014

 Date of last revision

15/08/2022