Modules for course N3AJ | MSC/FINANCE
MSc Finance

These are the modules currently offered on this course in the 2018–19 academic year.

You can also view the modules offered in the years: 2017–18.

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Year 1 Modules

Compulsory Modules

0 to 90 credits from:

  • September start must take:
  • ASB-4125: Invstmt Strat & Portfolio Mgmt (15) (Semester 1)
  • ASB-4403: Int'l Financial Markets (15) (Semester 1)
    An overview of financial markets and instruments; Review of the concepts of risk and return; Portfolio theory and diversification; The capital asset pricing model; Other asset pricing models; Efficient markets, behavioural finance and anomalies; Hedging, speculation and arbitrage; Foreign exchange and derivative markets; Option characteristics and option pricing; Forwards, futures and swaps.
  • ASB-4408: Financial Econometrics (15) (Semester 2)
    • Review of the linear regression model: estimation and hypothesis testing; • Dynamic regression models: distributed lag and autoregressive models; • Non-stationarity and testing for unit roots; • Modelling long-run relationships: cointegration; • Modelling volatility: univariate ARCH and GARCH models; • Regression analysis using panel data.
  • ASB-4416: Credit Risk Analytics (15) (Semester 1)
    Valuation of financial cash flows and rates of return; Expected return models and event studies in finance; The Law of One Price in finance and pricing financial claims via arbitrage; Portfolio theory and the modelling of investment portfolios; Value at Risk; Bootstrap methods; Brownian motion; Monte Carlo methods in finance; Pricing financial claims via replication and Black-Scholes option pricing.
  • ASB-4417: Market Risk Analytics (15) (Semester 2)
    Introduction to financial engineering; Static replication -creation, decomposition and analysis of financial products; Dynamic replication; Hedging strategies; Convexity, volatility and credit risk in financial engineering; Case studies in financial engineering.
  • ASB-4601: Research Methods (15) (Semester 1)
    Describing and summarising data; Probability and probability distributions; Principles of statistical inference; Correlation and regression analysis; Regression models for panel data.
  • The above modules are compulsory for September intake students. This means that students arriving in September must take all of the above modules.

0 to 90 credits from:

  • January start must take:
  • ASB-4101: Research Methods (15) (Semester 2)
    Describing and summarising data; Probability and probability distributions; Principles of statistical inference; Correlation and regression analysis; Regression models for panel data.
  • ASB-4103: Int'l Financial Markets (15) (Semester 2)
    An overview of financial markets and instruments; Review of the concepts of risk and return; Portfolio theory and diversification; The capital asset pricing model; Other asset pricing models; Efficient markets, behavioural finance and anomalies; Hedging, speculation and arbitrage; Foreign exchange and derivative markets; Option characteristics and option pricing; Forwards, futures and swaps.
  • ASB-4108: Financial Econometrics (15) (Semester 1)
    • Review of the linear regression model: estimation and hypothesis testing; • Dynamic regression models: distributed lag and autoregressive models; • Non-stationarity and testing for unit roots; • Modelling long-run relationships: cointegration; • Modelling volatility: univariate ARCH and GARCH models; • Regression analysis using panel data.
  • ASB-4125: Invstmt Strat & Portfolio Mgmt (15) (Semester 1)
  • ASB-4416: Credit Risk Analytics (15) (Semester 1)
    Valuation of financial cash flows and rates of return; Expected return models and event studies in finance; The Law of One Price in finance and pricing financial claims via arbitrage; Portfolio theory and the modelling of investment portfolios; Value at Risk; Bootstrap methods; Brownian motion; Monte Carlo methods in finance; Pricing financial claims via replication and Black-Scholes option pricing.
  • ASB-4417: Market Risk Analytics (15) (Semester 2)
    Introduction to financial engineering; Static replication -creation, decomposition and analysis of financial products; Dynamic replication; Hedging strategies; Convexity, volatility and credit risk in financial engineering; Case studies in financial engineering.
  • The above modules are compulsory for January intake students. This means that students arriving in January must take all of the above modules.

60 credits from:

  • ASB-4902: MSc Dissertation (60) (Semester 3)
    There is no set syllabus. The dissertation encourages students to develop a critical awareness of the professional skills relevant to the strategic management of a variety of business practices. Students choose their research topic, provided that there is suitable and sufficient reading material available, and a member of staff is available to supervise in the chosen area of study.
  • ASB-4909: Finance Dissertation (60) (Semester 3)
  • ASB-4910: Finc'l Research & CFA Series (60) (Semester 3)
    In the Research Seminar component, the precise content will vary from year to year. This will enable the programme to include staff research specialisms, to reflect current and topical research issues and to adapt to any staffing changes. Indicative content for 2016 (labelling is consistent with the existing ASB4903/4896 module): A1. Corporate governance and executive compensation (Professor John Ashton). C1. Event studies and the measurement of abnormal returns (Dr Gwion Williams). D1. The role of rating agencies in financial markets (Professor Owain ap Gwilym). Each student must attend two of the above research seminars, as follows: MSc Accounting, MSc Accounting and Banking, MSc Accounting and Finance: Seminars A1, C1. MSc/MA Banking and Finance, MSc International Banking, MSc/MA Islamic Banking and Finance, MSc/MA Finance, MSc International Finance, MSc Investment Management, MSc/MA Management and Finance. Seminars C1, D1. MBA Banking and Finance, MBA Finance, MBA Islamic Banking and Finance. Seminars A1, D1. This is applicable to September and January intakes, in both Bangor and London. In the CFA component: Prepare students to undertake a professional exam. Training will cover topics on the CFA Level 1 syllabus. Indicative content for 2016: Ethical and Professional Standards; Quantitative Methods; Economics; Financial Reporting and Analysis; Corporate Finance; Portfolio Management; Equity Investments; Fixed Income Investments; Derivatives; and Alternative Investments.

Optional Modules

0 to 30 credits from:

  • September start choose 2 from:
  • ASB-4008: Financial Technology (15) (Semester 2)
  • ASB-4405: Int'l Financial Management (15) (Semester 2)
    The financial management of multinational companies (MNCs). The macroeconomic, fiscal, currency and political environments. Determinants of exchange rates, and purchasing power and interest rate parity. Management of exchange rate exposure through forwards, options. Corporate financing decisions and the role of the global financial markets. Cost of capital and performance evaluation; capital investment appraisal. Working capital management and the positioning of funds in the MNC.
  • ASB-4433: Behavioural Fin Theory & Pract (15) (Semester 2)
    An overview of behaviour finance; Rational expectation, market efficiency and financial market puzzles; Beliefs, biases and heuristics; Application to asset pricing: sentiment, heterogeneous beliefs, and limits to arbitrage; Alternative approaches to financial anomalies such as bounded rationality and learning.
  • ASB-4441: Current Issues - Int'l Finance (15) (Semester 2)
    • Derivative Securities analysis and risk management • Hedge funds and Emerging Markets Investment • International/Global Investment • Credit rating agencies, Sovereign/bank debt/ratings and current regulatory reforms • International Monetary System and Trade Policy and exchange rates
  • ASB-4446: Financial Ethics & Regulation (15) (Semester 1)
    The lecture programme will outline the principle areas of content with specific skills honed within seminars. The lecture programme will be introduced through considering past cases of poor ethical practice in financial services industry to motivate the subsequent studies. The module will then develop to consider moral and normative ethics in a business context, the application of ethical principles within key financial services areas including lending, investment and trading. The lecture programme will then consider the role of individuals, organisations and corporate governance arrangements in financial services decision making, expected professional standards and the evolution of conduct of business regulation internationally within the financial services industry.
  • The above optional modules are available to students arriving in September.

0 to 30 credits from:

  • January start choose 2 from:
  • ASB-4010: New Venture Creation (15) (Semester 2)
    Entrepreneurship theory and evolution of the concept; Starting your own business; Creativity and Innovation; Franchising; Buying a business; Succeeding in family business.
  • ASB-4406: Financial Analysis (15) (Semester 2)
    Balance sheet and income statement analysis; Financial ratio analysis and inter-firm comparison; Trend analysis and financial forecasting; Analysis of profitability and growth; The quality of financial statements, and using financial statements in valuation; Cash accounting, accrual accounting and discounted cash flow valuation; Pricing book values and earnings; Assessment of credit and equity risk.
  • ASB-4414: Corporate Risk Management (15) (Semester 1)
    The nature of risk management; Risk identification; Business loss exposures; Risk measurement; Probability distributions (uses and limitations); Risk control tools; Risk financing tools; Influence of the market on risk management decisions; The interdependence of insurance and loss prevention decision; Insurance versus alternatives.
  • ASB-4423: Islamic Finance (15) (Semester 1)
    The induction of Riba, Gharar and Maysir; Traditional Islamic financial instruments; The role of the capital market; Risk management and Structured Islamic financial products.
  • ASB-4437: Merger and Acquisition (15) (Semester 2)
    Theory of the firm: "Build vs Buy"; Current issues in the M&A landscape; Motives for M&A; How do mergers work? When do mergers work? Winners and losers; Valuation in the context of an acquisition; Criteria for value-adding acquisitions; Cross-border vs domestic acquisitions.
  • The above optional modules are available to students arriving in January.