Introduction

The MSc in Financial Economics is run jointly with the Department of Economics and the Said Business School.

The Oxford MSc Financial Economics (MFE) is a full-time nine-month programme that will provide you with outstanding training in the tools of financial economics sought by many financial institutions, companies, and public organisations. It combines a rigorous academic core with tailored practical applications, designed in consultation with leading financial recruiters.

The programme is for individuals who are interested in careers in investment banking, asset management, private equity, and management consultancy.

 

The course is comprised of four core modules and five electives.

The core modules are all carefully integrated: the economics and econometrics modules apply theories and methodologies to finance, and the finance modules provide the underlying economic principles of financial practice.

The wide range of electives available enables you to gain a deeper knowledge of areas of special interest. Electives on offer are subject to change from year to year depending on demand.

An overview of the course structure is outlined below. Further details about the Advanced Options courses can be found at the course website: https://www.sbs.ox.ac.uk/programmes/degrees/mfe/outline/electives

Core Courses

The asset pricing module covers the theory and practice of valuing claims to uncertain cash flows; for example, stocks and stock options, bonds and foreign-exchange instruments. The module covers standard material such as CAPM and the Black-Scholes formula, and some advanced material such as consumption-CAPM and pricing formulas for "exotic options". About half of the module is dedicated to the application of advanced statistical methods to the area of asset pricing and to practical work with real-world data.

Corporate finance studies the financing, valuation and corporate governance of firms. During this module, you will learn the fundamental principles of financial accounting, the valuation of firms' assets and the determinants of firms' financial structures. You will be taught the key components of firms' financial decisions and the operation of financial markets, including new issues of securities, debt, and dividend policy. You will learn about the relevance of different financial institutions to the financing of firms, the takeover process, corporate restructurings, and financial distress.

Microeconomics is the study of how financial and commercial frameworks and conditions impact on individual situations and business units. During this module you will learn to apply the basic tools of market and firm analysis, game theory, incentive theory, and auctions. In addition, the module will provide an introduction to fundamental ideas in macroeconomics, reinforced by lectures from leading policy experts.

The module in financial econometrics provides students with a background in the fundamentals of empirical modelling and testing in finance. This will allow you to better understand crucial concepts like risk, evidence, and prediction.

Elective Courses

Capital raising and finance

Cases in finance and investments

Corporate valuation

Entrepreneurial finance

Fixed income and derivatives

Mergers, acquisitions and restructuring

Private equity

Admission Criteria

 

Undergraduate Degree

As guidance, you should have a minimum of a 2.1 (3.5 GPA) or its equivalent. As evidence, applicants are asked to upload their University degree academic transcripts/mark-sheets to the online application form. These must outline the subjects studied or grades obtained from each academic year.

 

GMAT or GRE Score

We recommend that the quantitative scores are in the 90th percentile, the verbal scores are in the 80th percentile and the analytical writing score is at least 5. Please contact GMAC/GRE directly to arrange to take the test.

 

Work Experience

It is not mandatory to have any full-time work experience prior to applying to the programme.  However if you have any relevant experience, either full-time or via an internship, this will be considered as part of your application for the programme. All candidates are required to upload a one-page (single side) CV as part of their application.

 

References

Two academic or professional references submitted via the online application form. If you are in the process of completing a degree programme, one reference should be from your current institution. 

 

Written Work

Mandatory essay "How do you hope to see your career developing over the next five years? How will the MSc in Financial Economics assist you in the development of these ambitions?" (Maximum of 500 words)

 

English Language Test

  • A test of English as a Foreign Language (TOEFL) or International English Language Test Scheme (IELTS) must be taken, and all minimum scores met (unless eligible for a waiver) if either: 
  1. Your first language is not English OR
  2. You are not from a majority English speaking country, as defined by the UK Visas and Immigration office: Australia, New Zealand, USA, Canada, UK, Ireland, Antigua and Barbuda, The Bahamas, Barbados, Dominica, Grenada, Jamaica, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Trinidad and Tobago, Belize, Guyana

Fees and Funding

The current fees for the MSc in Financial Economics are below:
 

  FEE STATUS

  TUITION FEE  

  COLLEGE FEE  

  TOTAL ANNUAL FEES  

  Home/EU
  (including Islands)

  £35,805

  £3,021

  £38,826

  Overseas

  £35,805

  £3,021

  £38,826

 

You can find information about fees on the Oxford University Fees and Funding webpages.

 

Scholarships

Alumni Annual Fund Scholarships

Two Alumni Annual Fund scholarships of £5,000 each are available to candidates who apply by the Stage 3 deadline and who receive an offer of a place on the programme.  In order to be considered for this scholarship, applicants must tick the AAF Scholarship box in the Funding section of the programme application form and upload the additional scholarship statement.  The statement should be a maximum of 150 words giving an example of when you have applied leadership skills in a voluntary capacity.  Only candidates who apply by the deadline and complete the additional requirements will be considered for the scholarship. 

 

University of Oxford Scholarships

Oxford scholarships worth over £1,000 are advertised through the University's Fees, Funding and Scholarship Search. Scholarships for 2018-19 will be listed in the Search from 1st September 2017. 

Use this search tool to find out whether you are eligible for University and College scholarships and whether these need any action from you, eg submitting additional application materials or ticking a box in the Funding section of the application form. There are over 1,000 full graduate scholarships available across all University programmes. Full scholarships will cover your course and college fees and provide a grant for living costs. 

The vast majority of Oxford scholarships are awarded to applicants who submit their course application by the January deadline.

 

External Scholarships

A summary of external scholarships and search facilities is provided on the University's External Scholarships page. These are managed by organisations external to Oxford. If you have any questions, please contact the organisation directly.