Option for Placement Year
Option for Study Abroad
Building on your undergraduate studies in a quantitative subject such as economics, accounting or engineering, this course provides a research-orientated approach to finance and investment. You will delve into specialist areas such as econometrics & forecasting, financial markets & institutions, and investments & risk management, and develop advanced analytical and evaluative skills.
You will make extensive use of our Bloomberg trading suite, where our Bloomberg terminals will give you invaluable access to live data from financial markets across the globe. You’ll use this, combined with our advance econometric packages, to build advance econometric models for the purposes of forecasting, developing trading strategies and examining policy implications for financial markets.
The course is regularly refreshed to keep pace with advances in the financial sector, and is aligned with the syllabus of the CFA Institute.*
The knowledge and experience you gain on this course will allow you to forge a successful research career. You can either progress within academia by continuing onto a PhD, or seek a position within the international financial sector as quantitative research analyst, where they are in high demand.
*Please note, this course does not provide exemption from/waiver for CFA certification.
Newcastle Business School operates its own Business Clinic to provide consultancy services to real businesses and organisations in the region, dealing with challenges such as developing an internet marketing strategy or investigating international market opportunities for a new product. Our students work in teams, research the issues and prepare and present a professional set of recommendations.
*Be aware that all Advanced Practice with investigative consultancy project routes are similar to many of our 1-Year MSc with consultancy project routes, while 2-year Advanced Practice course spends more dedicated time in the Business Clinic, reflected on the total assessment input for the two 60 credit modules.
Level of Study
Postgraduate
Mode of Study
2 years Full Time with Advanced Practice
Location
City Campus, Northumbria University
City
Newcastle
Start
September 2025
Fees
Fee Information
Modules
Module Information
Discover the funding options available to you.
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Discover more about current research projects at Newcastle Business School
Take a look at what Northumbria has to offer and discover what studying with us can do for you.
Take a look at what Northumbria has to offer and discover what studying with us can do for you.
Take a look at what Northumbria has to offer and discover what studying with us can do for you.
Applicants should normally have:
A minimum of a 2:2 honours degree in a relevant discipline, such as accounting, finance, mathematics or engineering, or a discipline with a quantitative element.
International qualifications:
If you have studied a non UK qualification, you can see how your qualifications compare to the standard entry criteria, by selecting the country that you received the qualification in, from our country pages. Visit www.northumbria.ac.uk/yourcountry
English language requirements:
International applicants are required to have a minimum overall IELTS (Academic) score of 6.5 with 5.5 in each component (or approved equivalent*).
*The university accepts a large number of UK and International Qualifications in place of IELTS. You can find details of acceptable tests and the required grades you will need in our English Language section. Visit www.northumbria.ac.uk/englishqualifications
Full UK Fee: £14,000
Full International Fee: £23,950
Scholarships and Discounts
ADDITIONAL COSTS
Whilst books are available via the University Library, there are various advised/recommended books you may wish to purchase throughout the duration of this course, costs are approximately £500.00
* At Northumbria we are strongly committed to protecting the privacy of personal data. To view the University’s Privacy Notice please click here
Module information is indicative and is reviewed annually therefore may be subject to change. Applicants will be informed if there are any changes.
AF7004 -
Financial Econometrics and Forecasting I (Core,20 Credits)
This module will provide you the knowledge and skills of empirical finance that are important in the field of banking, finance and investment. The module will deliver you the knowledge of econometrics that is required to understand and analyse the real world financial data. You will learn about classical econometric models such as linear regression involving Ordinary Least Squares (OLS) method, time series regressions, hypothesis testing. Furthermore, you will be introduced to forecasting methods and their applications. You will also learn panel data analysis.
The content of the module that you will study comprises four key blocks, which are listed below.
Block 1 - Properties of financial data, Classical Linear Regression Methods, Time series models and Hypothesis testing
Block 2 – Introduction to forecasting methods in Finance and their applications such as forecasting stock market returns and trading strategies.
Block 3 – Application of Classical Linear Regression models
Block 4 – Panel Data Analysis
AF7005 -
Financial Econometrics and Forecasting II (Core,20 Credits)
This module will enhance your knowledge and skills of empirical finance that you will have gained in the first semester module “Financial Econometrics and Forecasting I”. You will be able to understand and apply both contemporary and traditional econometric methods at an advanced level. You will appreciate and understand other econometric techniques based on the violations of classical OLS assumptions. For this the module consists of areas where you will be taught advanced regressions and ARCH models (Nobel Prize was awarded in 2003 to Robert F. Engle for his contribution and research in this area) that are very useful in forecasting returns in financial markets. Compared to the module “Financial Econometrics and Forecasting I”, this module will be more empirically rigorous. This module will involve a large analytical project that uses real world financial data and estimation of various econometric models, which you will conduct in the computer lab.
The content of the module that you will study comprises four key blocks which are listed below.
Block 1- Violation of classical assumptions of OLS method: Autocorrelation, Heteroscedasticity and Multicollinearity.
Autoregressive Conditional Heteroscedasticity (ARCH) models and other volatility models.
Block 2- Introduction to multivariate models, modelling long-run relationships and models involving limited dependent variables.
Block 3 - Models involving limited dependent variables (special cases) and event study approaches
Block 4 – Introduction to advanced topics in econometrics such regime switching models. Applying the research methods learned in Financial Econometrics 1 and 2 to conduct empirical research in Finance and Economics (Preparing for final Dissertation)
AF7027 -
Contemporary issues in Sustainability (Core,20 Credits)
Corporate governance offers the foundation for establishing transparency and accountability within organisations as well as support their strategic success. It plays a pivotal role in shaping the relationship between the organisation and its shareholders, other stakeholders, and the society at large. This module will explore various internal and external mechanisms of corporate governance that supports the organisation as a responsible member of the society and how this relates to the concepts of social responsibility, sustainability and business ethics. The module will also establish the links between responsible business practices and wider sustainable development initiatives such as the UN sustainable development Goals (SDGs).
The module will then consider the dynamic and complex landscape of sustainable finance which includes a myriad of players including security issuers, regulators, standard setters, rating agencies to investment companies. The module will introduce various sustainable and green investment vehicles. The module will consider green washing/impact washing, individual and collective actions among other contemporary issues in this area. Finally, the module will consider some of the technological innovations in the area of sustainable finance including innovations in banking and payment systems, applications of blockchain technology including digital assets and big data analytics including the use of AI. A key feature of the module are the workshops that will enable you to acquire data analysis skills using specialist software.
The module will also develop your curiosity and interest of ethical decision making in business, and to help you understand what ethics means from both an individual and organisational perspective. The module will enable you to develop an awareness of ethical dilemmas in business and challenge you to discuss and debate ethical decision-making as a future employer or employee
Topics
1 Responsible business and Sustainable development
2 Corporate governance and accountability
3 The use of ethical frameworks to aid the decision-making process
4 Sustainable finance landscape and issues
5 Fintech innovations in sustainability
6 Ethics and professionalism
BM9718 -
Research Methods and Analytics for Business Practice (Core,20 Credits)
In this module you will learn about a comprehensive range of research methods and business analytics techniques. This will equip you with the knowledge and practical skills necessary for you to conduct research at Masters’ level and prepare you to complete a Master’s Dissertation, Consultancy Project or Management Enquiry. By the end of the module you will know how to apply both quantitative and qualitative data collection and business analysis techniques. In quantitative techniques you will learn about sampling, questionnaire design, statistical inference, and hypothesis testing while qualitative techniques covered will include methods such as interviewing and focus groups. Analysis methods such as content analysis and thematic analysis will also be covered. In addition, you will gain some understanding of research philosophy (positivism and interpretivism) and research ethics and you will be able to write a research proposal to bring these ideas together.
Furthermore, this module will provide clear, critical, and analysis of data, you will also be able to consider the use of analytics implementation skills, where you will be introduced to analytics software such as SPSS. SPSS statistics analysis is one of the powerful solutions that is designed to help businesses and researchers to solve problems by various methods (geospatial analysis, predictive analytics and hypothesis testing).
GA7000 -
Academic Language Skills for Postgraduate Business Students (Core – for International and EU students only,0 Credits)
Studying away from your home country can differ due to cultural and language differences in teaching and assessment practices. This
module is designed to support your transition to postgraduate level study in the use and practice of subject specific skills around assessments
and teaching provision in your chosen subject. The overall aim of this module is to further develop your abilities to read and study effectively
for academic purposes; to develop your skills in analysing and using source material in seminars and academic writing and to develop your
use and application of language and communications skills suitable for a postgraduate level of study.
The topics you will cover on the module include:
• Understanding postgraduate assignment briefs.
• Developing advanced academic writing skills, including citation, paraphrasing, and summarising.
• Practising advanced ‘critical reading’ and ‘critical writing’
• Planning and structuring postgraduate level academic assignments (e.g. essays, reports and presentations).
• Avoiding academic misconduct and gaining credit by using academic sources and referencing effectively.
• Speaking in postgraduate seminar presentations.
• Presenting your ideas
• Giving discipline-related postgraduate level academic presentations, experiencing peer observation, and receiving formative feedback.
• Postgraduate level speed reading techniques.
• Developing self-reflection skills.
MN0492 -
International Financial Markets and Institutions (Core,20 Credits)
In this module you will gain a fundamental understanding of the concepts and theories operating within international financial markets, the financial institutions/participants that comprise the market and its regulation. Your learning will begin a the macro level, examining the financial system as a whole, the different institutions that comprise it, their roles within it and how they are regulated (with specific reference to banking). You will learn about market dynamics – what drives markets and finally what drives the markets for specific instruments, namely money market instruments, equities and fixed income. To apply the knowledge acquired in this module, you will be using financial information and data. You will also use basic financial arithmetic and statistics through Microsoft Excel.
More informationMN0493 -
Investments and Risk Management (Core,20 Credits)
In the module, you will learn the knowledge and skills that are important to understand and analyse the performance of portfolio composed of stocks and fixed-income securities. Additionally, you will develop a critical understanding of derivative instruments (options, forward and futures) and about market risk measurement technique (VaR). The module thus provides detail theoretical background where you will also learn the application side of investments in financial assets and portfolio management.
The content of the module that you will study comprises six key parts which are listed below.
Risk Management (VaR)
Derivatives (Options, Forward and Futures Contracts)
Investment Process, Asset Allocation and Developments in Investment Theory
Valuation Principles and Practices
Fixed Income Securities
Evaluation of Portfolio Performance
NX0470 -
Applied Management Work Investigation (Optional,60 Credits)
You will undertake a group consultancy project within the Business Clinic during the first semester of your second year of Masters’ study (NX0479). Through your work-based experience, you will develop ability as a problem solver with valued investigative, theoretical and practical business skills. This will last the length of the semester and involve the examination of a complex organisational problem or commercial opportunity. This second semester module will involve the development of the client oriented management report and presentation alongside an individual literature review and personal reflection.
The content of the management report will be unique. The nature and scope of the area of your investigation will be defined and agreed in collaboration with the organisation and the University supervisor. The syllabus will include:
• Conducting research in organisations.
• Identifying researchable questions.
• Consultancy and project management skills.
• Research methods and doing a literature review
• Presentation, communication and report writing skills.
• Analysing findings.
• Writing recommendations and action plans.
• Reflecting on work based experiential learning.
In undertaking this project based module, you will critically reflect and evaluate upon organisational practices and their relation with academic theory, and in doing so, provide practical and actionable recommendations through an investigative management report.
The assessment for your module consists of a Group Consultancy Report (7,000 words) and Final Client Presentation, weighted at 60%, alongside an Individual Assignment comprising a Literature Review (4000 words) and a Reflective Learning Statement (2,000 words), weighted at 40%.
NX0479 -
Business Clinic PG Group Consultancy Project (Core,60 Credits)
As a student enrolled on one of the 2-year Advanced Practice Programmes you may undertake a group consultancy project within the first semester of your second years of Masters’ study. Through your work-based experience, you will develop abilities as a problem solver with valued investigative, theoretical and practical business skills. This work-based experience will last the length of the semester and involve the examination of a complex organisational problem or commercial opportunity. By undertaking this module, you will have enhanced your individual skills, knowledge, effectiveness and employability by locating learning and development within a work-based context and will have critically reflected and evaluated upon organisational practices and the relation with academic theory.
The content of the work-based experience will be unique to you as a group of participants. The nature and scope of the area of student investigation will be defined and agreed in collaboration with the organisation and the University supervisor. The syllabus will include:
• Conducting research in organisations.
• Identifying researchable questions.
• Consultancy and project management skills.
• Research methods and doing a literature review
• Presentation, communication and report writing skills.
• Analysing findings.
• Writing recommendations and action plans.
• Reflecting on work based experiential learning.
Assessment will be both formative and summative and incorporate self, peer, and tutor evaluation. You will present your work-based findings to academic mentors (oral presentation) and an interim report written on behalf of the host organisation or sponsoring project client. In the follow-up module (NX0470), you will provide a substantial management investigation report on the business related issue emerging from this consultancy, alongside a personal reflective statement.
*Those students who do not achieve a mark 80% or more will not progress to NX0470 but will progress to the Masters Dissertation or Management Enquiry Module.
NX0480 -
The Newcastle Business School Masters Dissertation (Optional,60 Credits)
In this module you will gain an understanding of the academic skills that are required to produce a Masters Dissertation. By the end of the module you will have written a 15000 word Masters dissertation. The areas included are:
• Justification for the choice of topic
• Appropriate understanding, awareness and critical analysis of existing and up to date literature evidenced by a comprehensive and well-referenced literature review with an extensive reference list
• Selection, justification and application of an appropriately rigorous methodology - including limitations of the approach selected
• Clear statement of the findings of the research
• Critical analysis of the findings
• Explicit links between the analysis and the conclusions supported by critical argument
• Evidence of original work or thought for example in the form or context of the data collected, analytical process or application of findings
NX9734 -
Masters' Management Enquiry (Optional,60 Credits)
The Masters’ Management Enquiry module is a student-led individual project that enables you to undertake a significant piece of assessed
work commensurate with a capstone module and is offered as an alternative to the Masters’ Dissertation and Masters’ Consultancy Project.
The module aims to provide you with an opportunity to demonstrate an authentic engagement with managers and/or professionals in your
discipline (this enquiry has to be discipline specific), and to integrate the knowledge you have developed during your programme to explore
the theory in practice. The learning on this module is experiential and problem based, where the focus is upon you discovering, probing and
questioning key practice-based issues. Through the module you will be offered the opportunity to develop and enhance key transferable
employability skills including; time management, project management, communication (written, aural and verbal), negotiation, persuasion and
influence, discovery, initiative, problem-solving and analysis.
The module has five thematic areas; explore, review, engage, reflect and connect. These form the key elements of the assessed submission
which is a single 15,000 word report.
Part A (35%, 5,000-5,500 words)
Explore: Interviewing a manager and/or professional in your discipline. In this interview you will either explore a key issue which you feel the
discipline is facing or, alternatively, explore with the manager or professional the key issues that they feel they are facing in practice. It is
expected that you will apply non-verbatim documented conversation and provide evidence of the key ideas emerging within the submitted
enquiry report (e.g. within the appendices).
Review: Critically examining the academic and practitioner literature to support the exploration, displaying an ability to critically assess and
appraise the knowledge of your discipline related to a specific key issue arising from your exploration.
Part B (65%, 9,500-10,000 words)
Engage: Displaying an authentic engagement with the discipline problem/issue identified in Part A, by collecting/generating and analysing
further live data (beyond the initial interview) regarding the discipline problem/issue. This live data may be primary data (e.g. further interviews
with, or questionnaire to, managers and/or professionals in practice) or secondary data (e.g. industry data). Application of appropriate,
ethically-considered, research methods and appropriate qualitative or quantitative data analysis.
Reflect and Connect: Demonstrating an ability to critically evaluate and reflect on the issues arising from the Management Enquiry.
Demonstrating how you have connected and fed-back to the participants of the Enquiry (usually the manager and/or participants) your key
findings to provide clear prioritised, well-justified, practical and actionable recommendations for change/enhancement/improvement to existing
practice to show how the recommendations would potentially affect workplace professional decision making.
Our Applicant Services team will be happy to help. They can be contacted on 0191 406 0901 or by using our Contact Form.
Full time Courses are primarily delivered via on-campus face to face learning but could include elements of online learning. Most courses run as planned and as promoted on our website and via our marketing materials, but if there are any substantial changes (as determined by the Competition and Markets Authority) to a course or there is the potential that course may be withdrawn, we will notify all affected applicants as soon as possible with advice and guidance regarding their options. It is also important to be aware that optional modules listed on course pages may be subject to change depending on uptake numbers each year.
Contact time is subject to increase or decrease in line with possible restrictions imposed by the government or the University in the interest of maintaining the health and safety and wellbeing of students, staff, and visitors if this is deemed necessary in future.
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