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Programme Specification (Master’s Level)
MSc Finance
This document provides a definitive record of the main features of the programme and the learning outcomes that a typical student may reasonably be expected to achieve and demonstrate if s/he takes full advantage of the learning opportunities provided. This programme specification is intended as a reference point for prospective students, current students, external examiners and academic and support staff involved in delivering the programme and enabling student development and achievement. Programme Information Programme Title Finance Award(s) MSc Programme Code N Awarding Institution Imperial College London Teaching Institution Imperial College London Faculty Imperial College Business School Department Imperial College Business School Mode and Period of Study 1 calendar year full-time (12 months) Cohort Entry Points Annually in September Relevant QAA Benchmark Statement(s) and/or other external reference points Master’s Degrees in Business and Management Total Credits ECTS: 90 CATS: 180 FHEQ Level Level 7 EHEA Level 2 nd^ cycle External Accreditor(s) AMBA, EQUIS, AACSB International, CFA Specification Details Student cohorts covered by specification 2016/17 entry Person responsible for the specification Veronica Russell – Teaching & Quality Manager Date of introduction of programme October 1997 Date of programme specification/revision September 2016
Description of Programme Contents The programme is run by Imperial College Business School and is a one-year full-time programme. The financial world’s demand for innovation has always been intense. Today, as the international markets become increasingly complex, the need for understanding advanced systems and sophisticated financial instruments has never been greater. Success in these markets calls for intellectual rigour. Against this background, the MSc Finance equips its students to meet the contemporary challenges and enjoy the rewarding career opportunities offered by a dynamic industry. It also provides the necessary tools for academic research at the subject’s frontier. The programme commences in September with examinations taking place at the end of each term. Six of the Programme’s taught units are compulsory and are taken in the first two terms. In addition, each student takes four elective modules which are taught in the spring and summer terms. Examinations in the relevant compulsory core modules take place directly at the end of the term in which they are taught. The elective modules comprise of 27 hours of lectures and are normally examined directly at the end of the term in which they are taught. Students also devote the summer term and the normal summer vacation period to working on their Project. Students are assessed by an individual Applied Project of 3,000 words and a short presentation. Students on approved work placements may, with permission from the Programme Director, be allowed to write a report which incorporates their learning from their work placement. As an alternative to the Applied Project, students can, with permission from the Programme Director, write an individual Research Project which is an original piece of work not exceeding 10,000 words. Students who complete a Research Project will be required to take one less elective. The Research Project is particularly suited to those students wanting to do a PhD after their MSc programme. In addition there is: an on-line interactive Accounting Primer module; an online Ethics & Professional Standards module; an online Introduction to Finance module; and a compulsory international experience trip(all of which students must pass successfully). These modules do not, however, contribute to the calculation of the final award. Learning Outcomes The Imperial Graduate Attributes are a set of core competencies which we expect students to achieve through completion of any Imperial College degree programme. The Graduate Attributes are available at: www.imperial.ac.uk/students/academic-support/graduate-attributes Educational aims/objectives of the programme The programme aims to provide quantitative and analytic skills that enable students to enter the financial services sector or to pursue further academic study (doctoral research). Students who complete the programme successfully will be able to:
- Demonstrate knowledge of fundamental finance theories and models and their use and context in real financial markets;
- Apply mathematical tools to complex financial problems including the pricing of financial instruments and products;
- Use a range of programming tools to develop live implementations of financial models and use these implementations in practical simulations;
- Analyse and evaluate investment decisions and data — students should be able to apply econometric theory and software to draw valid conclusions about data.
Entry Requirements Academic Requirement Normally a UK Honours Degree at 1st^ or equivalent in highly quantitative discipline such as Mathematics, Engineering, Economics, Finance or Science. Exceptionally a UK Honours Degree at 2:1 or equivalent in highly quantitative discipline such as Mathematics, Engineering, Economics, Finance or Science. Non-academic Requirements When selecting candidates, the School uses a range of criteria: academic ability, future potential, and the commitment which students will bring to the programme. English Language Requirement English language test: IELTS level 7 with no element below 6.5 (or equivalent). The programme’s competency standards documents can be found requested from the Business School’s Teaching & Quality Office. Learning & Teaching Strategy Scheduled Learning & Teaching Methods Lectures Practical classes Equipment/technique demonstrations (e.g. Bloomberg, Datastream) Seminars Workshops, Case studies Group work exercises, Formal presentations E-learning & Blended Learning Methods Pre-programme on-line modules On-line discussion forums On-line lecture materials Interactive content including video and module quizzes Project and Placement Learning Methods Work Placement Opportunity
Assessment Strategy Assessment Methods Essays Continuous assessments Written Examinations/Tests Multiple Choice Tests Formal Presentations Reports Case Studies Participation Academic Feedback Policy The School aims to provide feedback to students on coursework within two weeks and to provide provisional examination grades six weeks from the examination date. With each returned coursework assignment, a written evaluation or assignment solutions will be provided. General feedback to the cohort is provided on examination performance. Students will be provided with an alpha grade. The numerical mark will only be available on completion of the programme and will be released by Registry. Grades received during the year are deemed provisional until confirmed by the External Exam Board. Re-sit Policy The College’s Policy on Re-sits is available at: www.imperial.ac.uk/registry/exams/resit Mitigating Circumstances Policy The College’s Policy on Mitigating Circumstances is available at: www.imperial.ac.uk/registry/exams Programme Structure Full-time Pre- session Term One Term Two Term Three Term Four Core Modules 4 9 2 1 Elective Modules 1 0 3 or 4 * Projects 1
- 3 or four electives depending on whether the student chooses a Research Project or Applied Financial Report Assessment Dates & Deadlines Written Examinations October, December, March, June Coursework Assessments Continuous Project Deadlines August Practical Assessments N/A
Marking Scheme All modules are equally weighted with the exception of the Research Project which carries a double weight. The Applied Project is single weighted and must be taken together with an additional elective. Core modules + Electives: 81% OR Core modules + Electives: 90% Research Project: 19% Applied Project: 10% Pass An average of 50% or above in each of the 2 components o Core modules (not including September foundation and online modules) o Electives & Research Project/Applied Project At least 40% in each examination; At least 50% in the Research Project or Applied Project; A pass mark for each of the Accounting, Ethics and Introduction to Finance modules; A pass mark in the September foundation modules (including a Pass in the Finance Industry module and an average of 50% or above across the remaining four modules, with a minimum mark of 40% in each individual element) A pass in the international experience module Merit An average of 60% or above in each of the 2 components:
- Core modules (not including September foundation and online modules)
- Electives & Research Project/Applied Project At least 40% in each examination; At least 60% in the Research Project or Applied Project; A pass mark for each of the Accounting, Ethics and Introduction to Finance modules; A pass mark in the September foundation modules (including a Pass in the Finance Industry module and an average of 50% or above across the remaining four modules, with a minimum mark of 40% in each individual element) A pass in the international experience module Distinction An average of 70% or above in each of the 2 components:
- Core modules (not including September foundation and online modules)
- Electives & Research Project/Applied Project At least 50% in all modules At least 40% in each examination At least 70% in the Research Project or Applied Project; A pass mark for each of the Accounting, Ethics and Introduction to Finance modules; A pass mark in the September foundation modules (including a Pass in the Finance Industry module and an average of 50% or above across the remaining four modules, with a minimum mark of 40% in each individual element) A pass in the international experience module
Indicative Module List Code Title Core/ Elective
L&T
Hours Ind. Study Hours Place- ment Hours Total Hours
Written Exam
Course- work
Practical
FHEQ
Level
ECTS
BS0390 Accounting Primer Core 10 15 0 25 0% 100% 0% 7 1 BS0392 Introduction to Finance Core 10 15 0 25 0% 100% 0% 7 1 BS0391 Introduction to Mathematics Optional 10 15 0 25 Not assessed N/A N/A BS1317 Plagiarism Awareness Module Core 10 15 0 25 Not assessed N/A N/A BS0394 Career & Professional Development Core 12.5 0 0 12.5 Not assessed N/A N/A BS1314 Study Skills Core 10 15 0 25 Not assessed N/A N/A Induction Core 7 0 0 7 Not assessed N/A N/A BS1305 Ethics and Professional Standards in Finance Core 10 15 0 25 0% 100%
BS0393 Application of Matlab to Finance Core 14 36 0 50 0% 100% 0% 7 2 BS0332 Markets and Securities Core 16 34 0 50 100% 0% 0% 7 2 BS0334 Financial Modelling Core 16 34 0 50 100% 0% 0% 7 2 BS0333 Business Valuation Core 18 32 0 50 0% 100% 0% 7 2 BS0335 The Finance Industry Core 16 34 0 50 0% 100% 0% 7 2 BS0305 Corporate Finance Core 38 137 0 175 75 % 25 % 0% 7 7
Indicative Module List Code Title Core/ Elective
L&T
Hours Ind. Study Hours Place- ment Hours Total Hours
Written Exam
Course- work
Practical
FHEQ
Level
ECTS
BS0352 Big Data in Finance Elective 29 146 0 175 5 0% 5 0% 0% 7 7 BS Introduction to Algorithmic Trading (International Elective) Key Elective 29 146 0 175 60% 40%
BS0350 Real Estate Investment Elective 29 146 0 175 50% 50% 0% 7 7 BS0309 International Finance Elective 29 146 0 175 85% 15% 0% 7 7 BS0342 Behavioural Investment Management Elective 29 146 0 175 85% 15% 0% 7 7 BS Wealth Management & Alternative Investments Elective 29 146 0 175 70% 30%
BS
Corporate Strategy and Dynamic Competition Elective 29 146 0 175 50% 50%
BS1021 Advanced Financial Statistics Elective 29 146 0 175 85% 15% 0% 7 7 BS0339 Mergers and Acquisitions Elective 29 146 0 175 50% 50% 0% 7 7 BS0318 Credit Risk Key Elective 29 146 0 175 75% 25% 0% 7 7 BS0324 Private Equity and Venture Capital Elective 29 146 0 175 60% 40% 0% 7 7 BS1011 Structured Credit and Equity Products Elective 29 146 0 175 85% 15% 0% 7 7 BS0344 Macroeconomics and Finance for Key Elective 29 146 0 175 55% 45% 0% 7 7
Indicative Module List Code Title Core/ Elective
L&T
Hours Ind. Study Hours Place- ment Hours Total Hours
Written Exam
Course- work
Practical
FHEQ
Level
ECTS
Practitioners (International Elective) BS0300 Research Project Core Choice 0 350 0 350 0% 100% 0% 7 14 BS0331 Applied Project Core Choice 0 175 0 175 0% 100% 0% 7 7
