The MSc in Economics and Finance at the University of Liverpool is designed for those seeking to build expertise in economics and finance and gain a competitive edge in their careers.
Introduction
This dynamic programme equips students with cutting-edge analytical, quantitative and critical-thinking skills necessary to navigate the complexities of the global financial system. With a strong emphasis on real-world applications, the curriculum integrates advanced training in economic modelling, financial markets and data analysis. Taught by experienced faculty with extensive expertise and active engagement in their respective fields, the programme combines theoretical depth with practical insights, ensuring graduates are well-prepared to thrive in roles within financial institutions, consultancies, policymaking bodies and beyond. Whether your goal is to advance your career or expand your expertise, the MSc in Economics and Finance offers the tools and networks to succeed in an evolving economic landscape.
To pass the programme, you need to successfully complete six 20-credit modules and a final 60-credit applied research project or dissertation.
Please note the structure of this exciting new programme remains subject to approval and there may be small changes before launch. If you receive an offer for this programme, you will be advised of any amendments that are made prior to the start date.
Who is this course for?
The MSc in Economics and Finance is designed for individuals from diverse academic and professional backgrounds who are eager to explore the dynamic intersection of economics and finance. Whether you are a recent graduate aiming to build specialist knowledge, a professional looking to advance your career, or someone considering a new direction in the financial sector, this programme offers the skills and expertise to help you succeed.
This course welcomes applicants with a background in economics, finance, business or related disciplines, as well as those with strong analytical skills and a passion for understanding how economic and financial systems operate. It is equally suited to those looking to enhance their career prospects in financial institutions, consulting, policymaking, or international organisations, or to develop the foundations for further academic research.
With a curriculum that emphasises real-world applications and includes topics like data visualisation, risk management and international finance, this programme is designed for individuals looking to excel in the dynamic and interconnected fields of economics and finance.
What you'll learn
The MSc in Economics and Finance equips you with the advanced skills and knowledge needed to excel in today’s fast-paced financial and economic landscape. Throughout the programme, you will:
Master core concepts: Develop a solid foundation in economic theory and financial principles, applying them to real-world contexts.
Enhance analytical skills: Build the ability to interpret and analyse data using advanced tools and methodologies.
Understand Economic and Financial Systems: Gain insights into the interconnectedness of global markets, institutions and policymaking frameworks.
Strengthen problem-solving abilities: Learn to approach economic and financial challenges critically, using both theoretical and practical perspectives.
Develop professional expertise: Hone the skills required to succeed in diverse roles, including financial analysis, policymaking and consultancy.
Improve communication skills: Learn to effectively present and articulate findings to a range of audiences, from stakeholders to decision-makers.
This comprehensive and interdisciplinary training ensures you are ready to take on high-impact roles in the financial sector, consultancy, policymaking or further academic research.
Accreditation
The University of Liverpool Management School (ULMS) is one of an elite group of institutions worldwide to hold the gold standard ‘triple-crown’ accreditation from AACSB, AMBA and EQUIS.
Course content
Discover what you'll learn, what you'll study, and how you'll be taught and assessed.
Semester one
Please note the structure of this exciting new programme remains subject to approval and there may be small changes before launch. If you receive an offer for this programme, you will be advised of any amendments that are made prior to the start date.
During the first semester, you will undertake three compulsory modules of 20 credits each (60 credits in total).
You will also undertake two optional modules.
Choose your first optional module from:
ECON704 International Economics and Finance
ECON705 Data Management and Visualisation for Economics.
Choose your second optional module from:
ACFI824 Financial Markets, Financial Regulations and Ethics
ACFI812 Banking and Financial Institutions.
Compulsory modules
ECONOMETRIC AND STATISTICAL METHODS (ECON814)
Credits: 15 /
Semester: semester 1
Econometric and statistical methods are of vital importance for estimating relationships between economic and financial variables, and for making predictions about the future. Central banks maintain large scale forecasting models for macroeconomic variables, for instance, and policy institutes use a wide range of econometric tools for modeling macroeconomic or microeconomic data. Within the private sector, financial analysts routinely estimate volatility models, credit risk departments estimate probability of default models, and, as a final example, marketing departments in large e-businesses make use of website hit counts and treatment test methods to test for the effect of their promotions on demand. These are just a few examples of how relatively advanced econometric methods are used in practice. ECON814 Econometric and Statistical Methods lays the foundation for learning the more specialised methods taught in ECON920 Advanced Econometrics, and equips the participant with a good general understanding of the methods used for estimating and testing linear and nonlinear relationships between variables.
Managerial Finance (ULMS767)
Credits: 15 /
Semester: semester 1
Managing Finance is designed to develop your expertise in problem solving, numeracy and commercial awareness through a lecture and workshop program that helps you understand, apply and competently practice in accounting and finance. The module aims to take you from an introductory-level beginning, designed for those who have not studied accounting and finance before, through to a level of understanding that will allow you to engage confidently with finance professionals.
Optional modules
International Economics and Finance (ECON704)
Credits: 15 /
Semester: semester 1
This module covers the core concepts of international trade and international finance. It introduces the key facts and theories in international economics and discusses contemporaneous issues in the global economy (e.g., Brexit and COVID). Topics in this course include classic international trade models, international prices and exchange rates, regional trade agreements and Brexit, and international monetary systems. In this module, students will be taught how to conduct their own research on recent economic events drawing on data from different sources, analysing them using appropriate economic models and communicating the results to a range of different audiences.
Data Management and Visualisation for Economics (ECON705)
Credits: 15 /
Semester: semester 1
Data is the key to many modern businesses, and harnessing it requires specialised skills. This module introduces students to key skills used by data scientists in industry and government to handle data in a professional setting. The module promotes students’ computing and quantitative skills within a structured environment. Students learn how to code in R, using it to clean data, build datasets, and produce basic tables and figures. Students are also taught how to present data in reports and oral presentations and to communicate their work to diverse audiences.
Financial Markets, Financial Regulations and Ethics (ACFI824)
Credits: 15 /
Semester: semester 1
The Financial Markets, 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:
Basic concepts about financial markets;
Financial instruments traded in markets;
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.
Banking and Financial Institutions (ACFI812)
Credits: 15 /
Semester: semester 1
This module provides an introduction to banking and financial institutions. More specifically, the module will cover: the role played by financial institutions in the economy, the characterising features of financial institutions and the need for regulating the banking system. The connections between the banking system and the central bank will be explored in detail along with the risks to which financial institutions get exposed in their daily activity.
Any optional modules listed above are illustrative only and may vary from year to year. Modules may be subject to minimum student numbers being achieved and staff availability. This means that the availability of specific optional modules cannot be guaranteed.
Semester two
Please note the structure of this exciting new programme remains subject to approval and there may be small changes before launch. If you receive an offer for this programme, you will be advised of any amendments that are made prior to the start date.
During the second semester, you will undertake three compulsory modules of 20 credits each (60 credits in total).
You will also undertake two optional modules.
Choose one of:
ECON703 Public Economics
ECON827 Current Topics in Economics
ECON916 Topics in Money and Banking.
Choose two of:
ACFI809 Financial Risk Management
ACFI813 Fixed Income Securities
ACFI825 Security Analysis and Investment.
Compulsory modules
Economics of Financial Markets (ECON706)
Credits: 15 /
Semester: semester 2
What are financial markets, and what roles do they play in the economy? How do uncertainty and volatility affect the operations of these markets? This module addresses these questions and provides students with a thorough analysis of the structure and functions of financial markets, capital markets, and the pivotal roles of financial institutions. Through developing students’ analytical skills in financial economics, the course covers critical theoretical and practical topics, including financial fragility, policy frameworks, and the governance mechanisms that underpin corporate and financial institution behaviour.
Optional modules
Public Economics (ECON703)
Credits: 15 /
Semester: semester 2
This module covers the core concepts in public economics. There is a strong emphasis on empirical analysis and the usage of practical models that explain the government’s intervention in the economy, and the interaction between the government and various economic agents. In this module, topics to be covered include provision of public goods, externalities and environmental protection, taxation, tax policy and redistribution, social insurance programs, and voting and enfranchisement. Empirical examples will feature a range of countries, different levels of government within a country, and the role of government programs and policies in the economy.
Current Topics in Economics (ECON827)
Credits: 15 /
Semester: semester 2
This module covers a variety of cutting-edge topics in economics. Based on articles published in peer reviewed academic journals, publications by international and government agencies, and working papers, this module is delivered by several research active staff specialising in each area. The module is a mix of lectures delivered by staff and roundtable discussions led by student presentations.
Topics in Money and Banking (ECON916)
Credits: 15 /
Semester: semester 2
The main objective of this module is to develop a microeconomic and a macroeconomic perspective of banking. Students will acquire a comprehensive insight into the specific nature of a bank as a firm, the role of banks in an economy, and of the regulatory environment in which banks operate. The module establishes an economic foundation for the banking sector and examines its significance for the macro-economy, employing a quantitative approach to introduce students to various banking topics.
Financial Risk Management (ACFI809)
Credits: 15 /
Semester: semester 2
This module will enable students to develop skills in evaluating, measuring and managing a range of financial risks to which companies are exposed. Particular emphasis will be placed on the measurement and management of market risks, cash flow risks, interest rate risks and credit risks. The module also includes a brief discussion of recent issues on risk management (emerging risks, the role of risk management failures etc.)
Fixed Income Securities (ACFI813)
Credits: 15 /
Semester: semester 2
The aim of this module is to introduce students to the fixed income market. The module starts by discussing the relevance of fixed income securities in today’s world. This is followed by a description of the main fixed income securities. The module then explores the issuance of fixed income securities, including their pricing and trading strategies and the risk management of fixed income assets. While the lecture introduces the key concepts, the seminars are more practical and provide an opportunity to apply the knowledge. Students are expected to attend lectures and to engage fully with the seminar exercises.
On the practical side, students will learn to price and identify mispriced fixed income assets and to formulate trading strategies to capture the mispricing. Successful students should be able to analyse economic news and appreciate its impact on fixed income securities.
Security Analysis and Investment (ACFI825)
Credits: 15 /
Semester: semester 2
This module aims to enrich students’ understanding and enhance their practical skills by building the core competency of investment analysis inspiring careers in finance. Students will be given a general introduction to the different asset classes and financial instruments; study the most popular techniques in financial analysis and valuation models rooted from research-led teaching contents; learn and practice investment strategies inspired by theoretical insights and empirical rigors.
Any optional modules listed above are illustrative only and may vary from year to year. Modules may be subject to minimum student numbers being achieved and staff availability. This means that the availability of specific optional modules cannot be guaranteed.
Final project
Conduct an independent research project on a topic of your choice within economics or finance. This module (ECON912) allows you to apply the skills and knowledge gained throughout the programme to address real-world challenges or theoretical questions.
Compulsory modules
DISSERTATION (ECON912)
Credits: 60 /
Semester: summer
Comprising two elements: research methods introduces students to the principles and practices of researching and writing dissertations and results in an agreed outline plan of work for the dissertation and a completed literature review. The dissertation itself will be undertaken over the summer period and will involve the implementation of the research work plan and the completion of a 15,000-20,000 word dissertation.
Any optional modules listed above are illustrative only and may vary from year to year. Modules may be subject to minimum student numbers being achieved and staff availability. This means that the availability of specific optional modules cannot be guaranteed.
How you'll learn
The MSc in Economics and Finance combines innovative teaching methods with practical, hands-on learning to ensure a comprehensive educational experience. You will learn through a mix of interactive lectures, seminars and workshops led by expert faculty. Real-world case studies, data-driven projects and coding exercises will enable you to apply theoretical knowledge to practical problems.
Group projects and collaborative activities will enhance your teamwork and communication skills, while individual assignments and the final dissertation will help you develop independence and critical thinking. Throughout the programme, you will have access to cutting-edge resources, including industry-standard software and real-world datasets, to support your learning and professional growth.
How you're assessed
To achieve your MSc qualification, you need to complete 180 credits:
Semester one: three 20-credit modules (60 credits in total)
Semester two: three 20-credit modules (60 credits in total)
Final project: 60 credits.
You must pass all the modules with a minimum grade of 50%. Subject to meeting specific criteria outlined by the University, you will graduate with a Pass, Merit or Distinction.
Assessment tasks are varied, and some may be explicitly designed to meet the learning outcomes of a particular programme of study.
You can expect to be assessed via coursework, essay, group work, (video) presentations, case studies, infographics, reports and examinations.
The weighting of individual assessment components varies across modules. You will find detailed information of this in the module specification.
Liverpool Hallmarks
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.
Your experience
Virtual tour
Supporting your learning
From arrival to alumni, we’re with you all the way:
Careers and employability support, including help with career planning, understanding the job market and strengthening your networking skills
A dedicated student services team can help you get assistance with your studies, help with health and wellbeing, and access to financial advice
Support for students with differing needs from the Disability advice and guidance team. They can identify and recommend appropriate support provisions for you.
Your tuition fees, funding your studies, and other costs to consider.
Tuition fees
UK fees (applies to Channel Islands, Isle of Man and Republic of Ireland)
Full-time place, per year
£14,000
International fees
Full-time place, per year
£30,000
Fees stated are for the 2025-26 academic year.
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.
Additional costs
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.
We accept a 2:2 honours degree from a UK university, or an equivalent academic qualification from a similar non-UK institution. This degree should be in Economics or a closely related discipline with a quantitative focus.
Students with a 2:2 degree from a quantitative science discipline (e.g. Mathematics, Physics, Statistics, Operations Research) are also encouraged to apply.
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.
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
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
PRE-SESSIONAL ENGLISH
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.
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Discover what expenses are covered by the cost of your tuition fees and other finance-related information you may need regarding your studies at Liverpool.
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