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Study information

Programme Specification for the 2023/4 academic year

MRes Finance (PhD Pathway)

1. Programme Details

Programme nameMRes Finance (PhD Pathway) Programme codePTR2SBESBE03
Study mode(s)Full Time
Academic year2023/4
Campus(es)Streatham (Exeter)
NQF Level of the Final Award7 (Masters)

2. Description of the Programme

The MRes in Finance (PhD pathway) is a two-year programme which allows you to specialise in finance and economics at the post-graduate level in preparation for progression to the PhD in Finance. In Year 1 you will receive advanced training in the core subjects of microeconomics, macroeconomics, econometrics and research methods. In Year 2 you will choose among specialisation subjects which will expose you to frontier research in finance and related disciplines (e.g. economics, business and management, or accounting) to develop your MRes dissertation. At the end of the programme, subject to qualification requirements, progression will be to the +3 PhD Programme, with initial registration to MPhil.

The analytical and quantitative skills learnt will be highly transferrable, and will be useful in academia, business, government and international organisations. The programme content is highly analytical, the teaching will be research driven, and you will start developing research independence through the preparation of the MRes dissertation.

The programme is designed in line with top PhD programmes in Finance across the world. Students progressing to the +3 PhD Programme will be able to apply for ESRC funding assistance in the third year, after being registered to MPhil, subject to meeting the residential eligibility criteria (https://www.swdtp.ac.uk/prospectivestudents). Students can also apply for funding for fees and maintenance support for this programme from the University of Exeter Business School through the MRes Scholarship fund.

3. Educational Aims of the Programme

1. provide you with advanced training in economic, econometric, and finance theory;
2. provide you with advanced training in research methods used in finance and economics;
3. develop your analytical and critical thinking skills through specialist finance or related options;
4. enable you to identify, analyse and understand finance research and to draw on research techniques from the finance and related fields to appreciate and assess problems, issues, and research debates in finance;
5. provide you with training in subject-specific skills in preparation for further study or employment;
6. equip you with the required skills to conduct a research project, organise and manage self-driven enquiry and write up a piece of research in the format of a dissertation.

The Programme will:

4. Programme Structure

The MRes in Finance (PhD pathway) is a 2-year full-time programme of study at National Qualification Framework (NQF) level 7 (as confirmed against the FHEQ). This programme is divided into 2 stages. Each stage is normally equivalent to an academic year.

Interim Awards
Post Graduate diploma in Economic Studies, upon successful completion of at least 90 credits from the first year (with the marks on the remaining 30 credits above 40%). Post Graduate Diploma in Financial Economics, upon successful completion of 90 credits from the second year (with the marks on the remaining 30 credits above 40%).

 

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.

This programme is available for 2-year full-time over six terms and is University-based throughout this time. The taught components of the programme are delivered in the first two terms of each of the two years, leaving the third term to prepare for the exams in year 1, and in year 2 to prepare for the exams and work on the MRes dissertation. The programme in its entirety runs from September in year 1 to September in year 2. During the programme you will study modules (including the dissertation) totalling 240 credits.

The following tables describe the programme and constituent modules. Constituent modules may be updated, deleted or replaced as a consequence of the annual review of this programme. Details of the modules currently offered may be obtained from the College website.

You may take optional modules as long as any necessary prerequisites have been satisfied, where the timetable allows and if you have not already taken the module in question or an equivalent module.

You may take elective modules up to 15 credits outside of the programme in Stage 2 of the programme as long as any necessary prerequisites have been satisfied, where the timetable allows and if you have not already taken the module in question or an equivalent module.

Stage 1


Stage 1 (Term 1): 60 credits of compulsory modules, 0 credits of optional modules

BEEM136 Research Methods I
BEEM137 Microeconomic Theory I
BEEM138 Macroeconomic Theory I
BEEM139 Econometric Theory I

Stage 1 (Term 2): 60 credits of compulsory modules, 0 credits of optional modules

BEEM143 Research Methods II
BEEM140 Microeconomic Theory II
BEEM141 Macroeconomic Theory II
BEEM142 Econometric Theory II

Compulsory Modules

CodeModule Credits Non-condonable?
BEEM136 Research Methods I 15No
BEEM137 Microeconomic Theory I 15No
BEEM138 Macroeconomic Theory I 15No
BEEM139 Econometric Theory I 15No
BEEM143 Research Methods II 15No
BEEM140 Microeconomic Theory II 15No
BEEM141 Macroeconomic Theory II 15No
BEEM142 Econometric Theory II 15No

Stage 2


Stage 2 (Terms 1 and 2): 0 credits of compulsory modules, 60 credits of optional modules

BEA3028 Sustainable and Responsible Finance
BEAM024 Advanced Financial Accounting
BEAM029 Topics in Financial Economics
BEAM042 International Financial Management
BEAM052 Corporate Governance and Finance
BEAM053 Mergers, Management Buyouts and Other Corporate Reorganisations
BEAM065 Bank Management
BEAM078 Applied Empirical Accounting and Finance
BEAM079 Coding Analytics for Accounting and Finance
BEEM061 Fundamentals of Financial Technology
BEEM103 Optimisation Techniques for Economists
BEEM117 Economics of Corporate Finance
BEEM144 Topics in Microeconomic Theory I
BEEM145 Topics in Macroeconomic Theory I
BEEM146 Topics in Empirical Economics I
BEEM147 Topics in Microeconomic Theory I
BEEM148 Topics in Macroeconomic Theory II
BEEM149 Topics in Empirical Economics II
BEFM015 Portfolio Management and Asset Allocation
BEFM016 Equity Valuation Models and Issues
BEFM017 Credit Instruments and Derivatives
BEMM065 Quantitative Research Methods
BEMM067 Business and Management Research Design
BEMM158 Business and Management Research Skills
BEMM216 Advanced Research Methods and Analysis

Stage 2 (Term 3): 60 credits of compulsory modules, 0 credits of optional modules

BEFM029 Finance MRes Dissertation

 

Compulsory Modules

CodeModule Credits Non-condonable?
BEFM029 Finance MRes Dissertation 60Yes

Optional Modules

CodeModule Credits Non-condonable?
BEA3028 Sustainable and Responsible Finance 15No
BEAM024 Advanced Financial Accounting 15No
BEAM029 Topics in Financial Economics 15No
BEAM042 International Financial Management 15No
BEAM052 Corporate Governance and Finance 15No
BEAM053 Mergers, Management Buyouts and Other Corporate Reorganisations 15No
BEAM065 Bank Management 15No
BEAM078 Applied Empirical Accounting and Finance 15No
BEAM079 Coding Analytics for Accounting and Finance 30No
BEEM061 Fundamentals of Financial Technology 15No
BEEM103 Optimisation Techniques for Economists 15No
BEEM117 Economics of Corporate Finance 15No
BEEM144 Topics in Microeconomic Theory I 15No
BEEM145 Topics in Macroeconomic Theory I 15No
BEEM146 Topics in Empirical Economics I 15No
BEEM147 Topics in Microeconomic Theory II 15No
BEEM148 Topics in Macroeconomic Theory II 15No
BEEM149 Topics in Empirical Economics II 15No
BEFM015 Portfolio Management and Asset Allocation 15No
BEFM016 Equity Valuation Models and Issues 15No
BEFM017 Credit Instruments and Derivatives 15No
BEMM065 Quantitative Research Methods 15No
BEMM067 Business and Management Research Design 15No
BEMM158 Business and Management Research Skills 15No
BEMM216 Advanced Research Methods and Analysis 15No

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. apply core knowledge in finance, econometrics, microeconomics and macroeconomics.
2. apply specialized knowledge on recent developments in finance, microeconomic theory, macroeconomic theory and empirical economics.
3. analyse real-world phenomenon through the lenses of finance and economic theory and econometric analysis.
4. plan, organise and manage self-driven enquiry.
5. implement research techniques to critically evaluate finance problems and research debate.

ILOs A1-A2 are developed in core subject modules (Year 1) and in elective finance and/or economics modules in Year 2.

ILO A3 is developed via most of the modules taught on the Programme and via MRes dissertation.

ILOs A4-A5 are primarily developed through MRes dissertation.

ILOs A1-3 to be assessed by a combination of individual written coursework, group presentations, peer assessment of group work and written examinations.

ILOs A4-5 are primarily assessed via MRes dissertation.

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:

1. synthesise data from a range of sources.
2. use expertise knowledge across a wide range of research methods and statistical techniques.
3. analyse and evaluate quantitative problems.
4. use several statistical and econometric packages.
5. use programming to formulate algorithms and analyse different types of data, such as Big Data.

ILO B1 is developed through Econometric Theory I, Econometric Theory II, Topics in Empirical Economics I, and relevant optional modules.

ILOs B2-B3 are developed through via Research Methods I, Research Methods II, and relevant optional modules.

ILOs B4-B5 are developed via Research Methods II, Econometric Theory I, Econometric Theory II, and relevant optional modules.

ILOs B1-5 to be addressed by a combination of individual written coursework, group presentations, peer assessment of group work, written examinations, and MRes dissertation.

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:

1. use a wide range of learning resources.
2. work independently at a sustained level of researching or problem-solving.
3. use analytic and quantitative skills in both academic and non-academic jobs.

ILO C1 is developed via all taught modules.

ILO C2 is developed via MRes dissertation.

ILO C3 is developed via all taught modules and MRes dissertation.

ILOs C1-3 to be addressed by a combination of individual written coursework, group presentations, peer assessment of group work, written examinations, and MRes dissertation.

7. Programme Regulations

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.

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.

Students who apply for UEBS funding are required to submit GRE/GMAT scores. For others it is recommended. A first-class honours degree in finance or closely related subject, or a Merit in a MA/MSc in finance or closely related subject, with evidence of excellent mathematical ability. For students for whom English is not a mother tongue, IELTS overall score of at least 7.0, with no less than 6.0 in any section required. (TOEFL IBT overall score of 90, with minimum scores of 21 for writing, 21 for listening, 22 for reading and 23 for speaking, is considered a valid equivalent.)

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.

(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

MRes Finance (PhD Pathway)

19. UCAS Code

Not applicable to this programme.

20. NQF Level of Final Award

7 (Masters)

21. Credit

CATS credits

240

ECTS credits

120

22. QAA Subject Benchmarking Group

23. Dates

Origin Date

24/01/2022

Date of last revision

24/01/2022