Course details
- Full-time: 12 months
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This programme will provide you with a solid understanding of the interaction of finance, financial markets and securities and investment analysis and draws extensively from the Chartered Financial Analyst (CFA) programme curriculum.
You will also be trained in financial market applications of these theories and concepts in addition to learning how to use state-of-the-art industry analytics in your studies. On graduation, you will have a good understanding of contemporary financial principles and know how these apply to financial intermediation, savings and investment.
With a rigorous focus on both theory and application, you will benefit from leading-edge insight and global perspective from City practitioners, building on firm foundations in quantitative skills, corporate finance, financial analysis, portfolio management, financial instruments, regulation, ethics and other critical areas.
The MSc Finance and Investment Management has been accepted into the CFA Institute University Recognition Programme. This status is granted to institutions whose degree programmes incorporate at least 70% of the CFA Programme Candidate Body of Knowledge™ (CBOK), which provides you with a solid grounding in the CBOK and positions you well to sit for the CFA exams.
The CFA qualification is a globally recognised, postgraduate designation that provides a strong foundation of investment analysis and portfolio management skills along with the practical knowledge required in the modern finance and investment industry.
The Management School has a range of additional funding opportunities for outstanding master’s students, including the 50% University of Liverpool Management School (ULMS) Excellence Scholarship. Eligibility and more information can be found on the School’s scholarship pages.
The University of Liverpool Management School is one of an elite group of institutions worldwide to hold the gold standard ‘triple-crown’ accreditation from AACSB, AMBA and EQUIS.
The Finance and Investment Management programme has affiliate status with the CQF Institute, allowing our students to register for free membership and gain access to resources such as events, research, careers tools, workshops and thought leadership materials
Discover what you'll learn, what you'll study, and how you'll be taught and assessed.
The 12-month programme consists of eight compulsory modules followed by a research project carried out over the summer period upon completion of Semester two.
The financial reporting and analysis module focuses on developing technical knowledge and skills to enable understanding, interpretation and analysis of companies’ annual reports. There is an emphasis on International Financial Reporting Standards (IFRS). The module will enable students to perform a fundamental and critical analysis of a company’s performance and position which can then be applied to either equity or fixed income security valuation in other modules. In terms of technical content IFRS standards covered include core standards relating to PPE and inventories, but also more advanced topics such as pensions, stock compensation, employee benefits and off-balance-sheet financing.
The quantitative methods section of this module focuses on statistics. The topics range from data analysis, probability theory, hypothesis testing, sampling and estimation, to linear regression and time-series analysis. Other topics include simulation and technical analysis. The module also requires a conceptual understanding to enable the evaluation of methodologies, develop critiques of them, and, where appropriate, propose revised approaches. The economics section of this module covers microeconomics and macroeconomics. Elements of international economics are included relating largely to foreign currency transactions and how they are affected by exchange rates, international interest rates and inflation. There is an emphasis on the effects of economic factors on financial markets, including monetary and fiscal policy, government regulation, and economic growth and development.
This module explores global asset markets and the analysis of asset types: specifically equity (shares/stocks), fixed income (bonds). The equity analysis section of the module includes the characteristics of equity markets, institutions, and benchmarks. It also includes equity valuation methods. Similarly, the fixed-income section of the module includes the characteristics of fixed-income markets, institutions, and benchmarks. It also addresses the valuation of fixed income securities, the term structure of interest rates, credit risk and structured products.This module requires a conceptual understanding of valuation methodologies and develops critiques of these models.
The financial regulation and ethics module is core to the programme and addresses key issues associated with how the financial markets are regulated and supervised, along with the nature and importance of an ethical framework. Key topics include:
The role and nature of financial regulation;
Regulation through the lens of the global financial crisis;
Internationally enacted financial regulations;
CFA Institute Ethics and Professional Standards of Practice;
Ethical practices.
This module develops a conceptual understanding of the regulation of financial markets and of ethical issues and behaviours.
The 12-month programme consists of eight compulsory modules followed by a research project carried out over the summer period upon completion of Semester two.
This module includes derivatives, eg futures; forwards; options and swaps, and alternative investments, eg real estate, private equity, hedge funds and commodities. Derivatives have become an increasingly important issue in financial markets and in understanding and controlling financial risk. The topics covered include the types of derivative instruments and their characteristics. It also addresses how derivative instruments can be used to manage interest risk; foreign currency risk; commodity risk and credit risk. The alternative investment section of this module considers the various types of alternative investments and their characteristics. These include real estate; private equity/venture capital; hedge funds; closely held companies and inactively traded securities; distressed securities, bankruptcies; commodities and tangible assets with low liquidity.
The corporate finance module is core to the programme and addresses key issues in the financing, investment and distribution policies of companies. Key topics include:
Corporate governance;
Dividend policy;
Capital investment decisions;
Business and financial risk;
Long-term financial policy;
Short-Term financial policy;
Mergers and acquisitions;
Corporate restructuring.
This module develops a conceptual understanding of the behaviour of financial markets and the factors influencing corporate financing decisions.
This module is core to the overall programme and includes managing investments for corporations and for individuals. The module addresses the fundamentals of portfolio management, including return and risk measurement, along with portfolio planning and construction. Specific topics include: portfolio theory; asset pricing models; investment policy, eg defining an appropriate investment policy, resultant asset allocation, order execution; and measurement of investment performance.
Students will develop an appreciation of the collection, analysis and interpretation of information in order to inform and support both academic and future professional activities. The effective utilization of information in order to inform decision-making is a key managerial skill and this module aims to develop skills in the acquisition, analysis and management of both qualitative and quantitative information for both academic and professional purposes. Specific aims of the module will be as follows:
Orientating students around the sources of extant information that can be used to inform academic and professional decisions;
Consideration of the nature of research both in an applied professional and more overtly academic context;
Consideration of the nature and methodologies of both qualitative and quantitative data deriving from both secondary and primary sources.
The 12-month programme consists of eight compulsory modules followed by a research project carried out over the summer period upon completion of Semester two.
Students will undertake research on a financial market, company or industry of their choice. This will require demonstration of:
A systematic understanding, demonstrated knowledge and a critical awareness of current issues affecting the market/company/industry selected;
Originality in the application of knowledge, together with a practical understanding of established, applied techniques of research and analysis as used to interpret knowledge and practice in the area;
Conceptual understanding to enable critical evaluation of the methodologies used and the results obtained.
The integrated case study provides the opportunity for group work, discussion, self-evaluation, presentation skills, personal research and independent study.
As a traditional teaching method, interactive lectures provide students the opportunity to learn the subject with an in-depth input from the lecturers whereas seminars and group work provide further avenues for interactive learning from other group members.
Following semester two you will complete a research project with the support of an academic supervisor.
Teaching time will account for an average of 10 hours per week and you should anticipate an additional 25 hours of self-directed study and group work.
In semester one and two, you will take modules totalling 120 credits. The research project completed during the summer period is worth 60 credits and students will be supported by their academic supervisor.
Students are required to complete 180 credits to achieve a full MSc.
Subject to meeting specific criteria outlined by the University, students will graduate with a Pass, Merit or Distinction.
Assessment tasks are varied and some may be designed specifically to meet the learning outcomes of a particular programme of study, but students can expect to be assessed via coursework, essay, group work, presentations, case studies, negotiation exercises, reports and examinations. The weighting of individual components will vary from one module to another. All assessment information is included within the module specification.
We have a distinctive approach to education, the Liverpool Curriculum Framework, which focuses on research-connected teaching, active learning, and authentic assessment to ensure our students graduate as digitally fluent and confident global citizens.
This programme is delivered by the triple-accredited University of Liverpool Management School.
The School has a thriving international master’s community with a comprehensive, interdisciplinary programme of social and extra-curricular events and dedicated careers and employability support.
From arrival to alumni, we’re with you all the way:
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Our approach of embedding much of the globally recognised CFA qualification into our MSc programme will strengthen your employability throughout the financial services sector.
The programme is designed to provide both academic knowledge and practical skills, allowing successful candidates to find employment in the financial services industry in job roles ranging from security analysis through to investment management.
You will have access to a specialist, in-house postgraduate careers team and have access to one-to-one careers guidance, workshops, seminars, and employability initiatives.
Successful candidates will hold an MSc and some will have passed the Level 1 CFA examination. They should therefore be extremely marketable for employment in most areas of the financial services industry, and particularly where there is an emphasis on Investment Management and on Analysis. This includes regulators in the industry.
Graduates from this programme have secured jobs at:
In roles such as:
Your tuition fees, funding your studies, and other costs to consider.
UK fees (applies to Channel Islands, Isle of Man and Republic of Ireland) | |
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Full-time place, per year | £14,750 |
International fees | |
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Full-time place, per year | £33,500 |
Tuition fees cover the cost of your teaching and assessment, operating facilities such as libraries, IT equipment, and access to academic and personal support.
If you're a UK national, or have settled status in the UK, you may be eligible to apply for a Postgraduate Loan worth up to £12,167 to help with course fees and living costs. Learn more about fees and funding.
We understand that budgeting for your time at university is important, and we want to make sure you understand any course-related costs that are not covered by your tuition fee. This could include buying a laptop, books, or stationery.
Find out more about the additional study costs that may apply to this course.
We offer a range of scholarships and bursaries that could help pay your tuition and living expenses.
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The qualifications and exam results you'll need to apply for this course.
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Your qualification | Requirements |
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Postgraduate entry requirements |
A 2:1 Honours degree (or overseas equivalent) in Finance, Accounting, Economics, Mathematics, Engineering, Science or Business. We are able to offer a level of flexibility for applicants. Those with a 2:2 honours degree will be considered on an individual basis. A wide range of subjects is acceptable, but please contact us if you wish to check whether your degree subject is suitable. Candidates who do not meet these requirements will be considered on their individual merits and should discuss their particular circumstances with the Programme Director. Applications from students with a professional background rather than an undergraduate degree will be assessed in accordance with the principles of the University’s AP(E)L policy, and the practice and precedents of the Faculty of Humanities and Social Sciences.
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International qualifications |
If you hold a bachelor’s degree or equivalent, but don’t meet our entry requirements, you could be eligible for a Pre-Master’s course. This is offered on campus at the University of Liverpool International College, in partnership with Kaplan International Pathways. It’s a specialist preparation course for postgraduate study, and when you pass the Pre-Master’s at the required level with good attendance, you’re guaranteed entry to a University of Liverpool master’s degree. |
You'll need to demonstrate competence in the use of English language, unless you’re from a majority English speaking country.
We accept a variety of international language tests and country-specific qualifications.
International applicants who do not meet the minimum required standard of English language can complete one of our Pre-Sessional English courses to achieve the required level.
English language qualification | Requirements |
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IELTS | 6.5 overall, with no component below 6.0 |
TOEFL iBT | 88 overall, with minimum scores of listening 19, writing 19, reading 19 and speaking 20. TOEFL Home Edition not accepted. |
Duolingo English Test | 120 overall, with no component below 105 |
Pearson PTE Academic | 61 overall, with no component below 59 |
LanguageCert Academic | 70 overall, with no skill below 65 |
PSI Skills for English | B2 Pass with Merit in all bands |
INDIA Standard XII | National Curriculum (CBSE/ISC) - 75% and above in English. Accepted State Boards - 80% and above in English. |
WAEC | C6 or above |
Do you need to complete a Pre-Sessional English course to meet the English language requirements for this course?
The length of Pre-Sessional English course you’ll need to take depends on your current level of English language ability.
Find out the length of Pre-Sessional English course you may require for this degree.
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Last updated 17 October 2024 / / Programme terms and conditions