The Investment Management MSc will provide you with advanced knowledge of the various functional dimensions of the complex world of investment management. It is distinctive in covering the principles, tools and techniques of both investment and management, as well as how to apply them in real work situations globally.

MSc in Investment Management video
Investment Management MSc video

At a glance

  • Start date25 September 2017
  • Duration1 year
  • DeliveryTaught modules 60%, individual project 40%
  • QualificationMSc
  • Study typeFull-time

Who is it for?

This course is designed for recent graduates with a desire to develop their knowledge and skills in investment management before seeking their first professional role; and professionals who already have work experience in the investment industry and are looking to take their career to the next level. The course will prepare you for roles in the investment industry such as portfolio manager, hedge-fund specialist, investment specialist, trader, fund manager, risk manager, security analyst, broker or corporate treasurer. High standard content and fruitful discussions about its application within different cultures and geographical areas prepare our truly international cohort of students to work in every part of our increasingly globalised world.

Class Profile 2016/17:

Gender:
Male 93% - Female 7%
Age Range:
21 - 27 years
Average Age:
24 years
Number of Nationalities: 11
Class Size: 14



Term Dates

Term One:
2 October 2017 – 15 December 2017
Term Two:
8 January 2018 – 23 March 2018
Term Three:
9 April 2018 – 22 June 2018
Term Four:
25 June 2018 – 7 September 2018

Why this course?

Cranfield School of Management is known for being close to business. For 50 years, we have been working with leading companies across the globe, pursuing our mission to improve the practice of management.

This course is distinctive in covering the principles, tools and techniques of both finance and management, as well as how to apply them in real work situations. It places emphasis on real-world challenges and modules include a combination of case studies, participative exercises, interactive lectures and group projects. We also organise regular seminars and speeches with experts and practitioners in different areas of finance in order to allow you to expand your knowledge and to be ready to face the professional world.

Our classes are small and each academic tutor has no more than five students, ensuring close, continuous interaction.

Michael

"My time at Cranfield has been phenomenal. From the excellent, diverse and very accessible faculty, to the superb facilities, there is a great focus on the practical application of knowledge and the emphasis on acquiring the much needed soft skills that make you a well-rounded finance professional."

Michael Osakwe, current student, Investment Management MSc

Rankings

Our excellence in management education here at Cranfield is consistently recognised in International Business Rankings.


Informed by Industry

An External Advisory Panel comprised of senior practitioners in investment management informs the design and development of the course, reinforcing its relevance to the modern financial world. Our faculty are also supported by a team of international visiting industry speakers and professors who bring the latest thinking and best practice into the classroom.

Your teaching team

The programme is taught by faculty experts who have extensive industry experience and who regularly work with major global financial services organisations, multinationals and government agencies around the world.

Our full-time faculty team is supported by a diverse group of international visiting industry speakers and professors including:

  • Dr Deirdre Anderson
  • Professor Huainan Zhao
  • Dr Peter Yallup
  • Jane Vessey
  • Paul Richards
  • Steve Wallace

Course details

The Cranfield Investment Management MSc is distinctive in covering the principles, tools and techniques of both investment and management, as well as how to apply them in real work situations. Throughout the course you will have access to a highly effective infrastructure including Bloomberg live financial news and data, DataStream, FAME and EBSCO, and use real-world, international case studies to support your learning.

Individual project

You will undertake an empirical research project for your individual thesis, enabling you to apply the knowledge and skills you have learnt during the course.  Students will be helped to secure their own company research projects or internships under the guidance of their supervisor.


Assessment

Taught modules 60%, individual project 40%

Pre-sessional Course

If you do not have a background in finance and accounting, you may be required to attend the Introduction to Accounting pre-session course prior to the start of the your MSc. Please note that the Statistics and the Basic Finance lectures are compulsory for all students.

Introduction to Accounting - 18 September 2017
This course will introduce you to the basic elements of financial and management accounting techniques to prepare you for the core accounting module. The sessions cover:

  • Accounting information, concepts and standards
  • Preparing financial statements
  • Preparing financial statements - cash flows and adjustments
  • Cost-Volume-Profit analysis
  • Budgeting

Orientation - compulsory for all students to attend

Week 1 - Statistics and Basic Finance – 25 September 2017

The Statistics sessions will help you revise or update your understanding of some statistical concepts that you will use during the MSc in Finance and Management. These will cover:

  • Introduction to matrix algebra and descriptive statistics
  • Introduction to basic linear regression analysis

The Basic Finance sessions will introduce you to two essential concepts in finance. You will have the opportunity to update your understanding of how to value assets given forecasts of future cash flows. You will then explore the different sources of finance available to business and discuss their relative importance. The sessions cover:

  • Time value of money
  • Investment and financing

Core modules

Corporate Finance

Module Leader
  • Dr Yacine Belghitar
Aim

    The module provides you with a basic foundation in the essentials of corporate financial management. The course focuses on three principal aspects of corporate finance: the investment decision; the cost of capital; and the financing decision. Emphasis is put on empirical research in order to provide participants with an understanding of underlying theory and principles of corporate finance. 

Syllabus

    The module covers:

    • The Objective Function for Corporations
    • Corporate Governance
    • Making Investment Decisions with the NPV Rule
    • Valuing Bonds and Common Stocks
    • Introduction to Risk and Return
    • Portfolio Theory and the CAPM
    • How Corporations Issue Securities
    • Capital Structure I
    • Capital Structure II
    • Pay-out Policy
Intended learning outcomes

On successful completion of this module you should be able to:

  • Describe the impact of the separation of corporate ownership, management and control.  
  • Understand the concept of the time value of money and the theoretical justifications for using discounted cash flow techniques in project appraisal.
  • Understand the range of investment appraisal techniques including traditional as well as discounted cash flow methods and be able to identify incremental cash flows in net present value calculations.
  • Appreciate and incorporate risk in project appraisal and investment.
  • Discuss the factors a company should take into account in determining the firm’s dividend policy and capital structure.
  • Understand equity derivatives.

Statistical Analysis for Finance

Module Leader
  • Dr Yacine Belghitar
Aim

    The module provides the relevant mathematical and statistical training necessary to be able to conduct appropriate empirical studies and apply theoretical financial models in practice.

Syllabus

    The module covers:

    • Probability theory.
    • Sampling and estimation.
    • Hypothesis testing.
    • Analysis of variance.
    • Non-parametric tests.
    • Regression analysis.
    • Logistic regression.
    • Time-series analysis.
    • Using the statistical package SPSS.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Understand a variety of statistical techniques for data analysis.
  • Learn application of appropriate statistical techniques to analyse a variety of problems in finance.
  • Understand and appreciate finance theory and related empirical work covered in other subjects within the programme.

Accounting

Module Leader
  • Dr Matthias Nnadi
Aim

    The module provides you with a very clear understanding of the basics of accounting.  By the end of the course, you will be able to interpret accounting information with confidence and be able to use it to make decisions and to communicate with others.

Syllabus
    • The course is split approximately 50/50 between Financial Accounting and Management Accounting.
    • Financial  Accounting covers the preparation and presentation of accounts by firms for outside parties such as shareholders or creditors.
    • Such preparation is governed by certain fundamental principles and various rules.
    • Over the first five sessions you will cover these principles and rules in order to understand how the key financial statements (income statement, balance sheet, cash flow statement) are prepared.
    • The module also covers the interpretation of financial statements. This involves learning financial ratio analysis and interpreting the information contained in a full set of annual accounts.
    • The last five sessions are devoted to Management Accounting that covers internal accounting by managers for planning and control.
    This module will cover the nature and classification of costs, break-even analysis, and allocation of overheads; preparing and using budgets, variance analysis.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Understand the fundamental principles of financial accounting.
  • Prepare key financial statements from basic information.
  • Understand how subsidiary accounts are consolidated.
  • Analyse and interpret company accounts.
  • Classify different types of costs and conduct break even analysis.
  • Understand the different ways in which overheads can be allocated.
  • Prepare budgets and interpret variances from budget.
  • Evaluate divisional performance and different transfer pricing methods.

Organisational Management

Module Leader
  • Dr Deirdre Anderson
Aim
    • To provide an introduction to the individual and the group in the organisation – how and why people differ - and to introduce frameworks that aid interpersonal understanding, communication and relationships.
    • To introduce the notion of personality and its application.
    • To consider the importance of relationships at work.
    • To introduce the concept of effective teams.
    • To explore the concept of leadership style.
    • To provide an introduction to power, politics and influence in organisations.
Syllabus

    The module covers:

    • Overview of organisational behaviour theory.
    • Individual and team characteristics, using Myers-Briggs and Belbin.
    • Leadership and management.
    • Organisational power and politics.
    • Negotiation skills.
    • Presentation skills.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Identify the factors that affect peoples behaviour within teams and organisations.
  • Evaluate your own behaviours, showing knowledge of personal strengths and weaknesses.
  • Use appropriate tools to demonstrate understanding of how individual differences affect interpersonal interactions between people.
  • Present organisational information using appropriate audio-visual tools.
  • Apply a range of leadership and management theories to real-life organisational settings.
  • Discuss the nature and role of power and politics within organisations.
  • Apply negotiation skills within organisations.

Economics for Financial Markets

Module Leader
  • Dr Constantinos Alexiou
Aim

    The module develops your knowledge of modern economic theory to help you understand the relationship between the organisation and its place in today's global economy. Cranfield School of Management’s MBA programme has been ranked first in the world for economics in the Financial Times 2017 Full Time Global MBA ranking (published 30 January).

Syllabus

    The module covers:

    • Introduction to economic thinking
    • Demand and revenue
    • Production cost
    • Supply and demand
    • Supply and price determination
    • Perfect competition
    • Monopoly
    • Monopolistic competition
    • Oligopoly
    • Management and the firm
    • Competitive strategy
    • Pricing strategies
    • The labour market
    • The capital market
    • Government and business
    • Money, banking and interest rates
    • Monetary policy
    • Inflation
    • Employment and unemployment
    • Exchange rates.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Show an awareness of the concept of equilibrium as it applies to the micro and macro structures of a broad range of financial markets.
  • Understand choice theory and rational economic decision making as it applies to the levels and structure of prices of assets in a broad range of financial markets.
  • Understand monetary economics and the institutional context to which it applies, in particular money and capital markets in the UK and the US.

Valuation and Financial Modelling

Module Leader
  • Dr Vineet Agarwal
Aim

    A good understanding of techniques of valuation of firms as well as the different securities issued by firms is vital for managers and financial analysts. This understanding has a bearing on both financing decisions (issue of equity or debt) and investment decisions (identifying securities for inclusion in a portfolio, acquisitions, buy-backs, divestitures etc.).In addition, building sound financial models is critical for understanding and communicating valuations. This course provides the framework for valuing equity and firms as well as financial modelling to aid decision making.

Syllabus

    The module covers:

    • Discounted cash flow.
    • Relative valuation and residual income valuation.
    • Estimating the cost of capital using the capital asset pricing model.
    • Estimating earnings.
    • Cash flows.
    • Growth and terminal value.
    • Building a financial model.
    • Excel simulations and using @Risk.
    • Principles of good financial modeling.
    • How to use built-in Excel functions.
    • Macros in Visual Basic for Applications to enhance the power of models.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Understand the basic principles of company valuation.
  • Identify a range of valuation methods.
  • Understand the assumptions and limitations of valuation models.
  • Build valuation models and scenarios using Excel.
  • Work with Monte Carlo methods.
  • Recognise how to improve the power of models using Visual Basic for Applications.

Financial Markets Regulation and Ethics

Module Leader
  • Paul Richards
  • Steve Wallace
Aim

    The course begins with sessions on traders in the international financial markets, the instruments they trade and the ways in which they trade them and the institutions which employ them. You will learn the motives, techniques and behaviour of market operators. Recent controversies will be looked at in market practice and the continuing regulatory changes associated with them. The later sessions cover the major financial product markets, including debt and equity, and convertible markets. You should develop a good understanding of the main financial products.

Syllabus

    The module covers:

    • Markets versus financial intermediaries.
    • Trading institutions and participants.
    • Market making.
    • Market types and market microstructure.
    • Execution costs: definition and measurement.
    • Equity derivatives: options and futures.
    • Arbitrage.
    • Regulation.
    • Market controversies.
    • Preparation for assignments.
    • Financial products overview.
    • Money markets.
    • Debt instruments and markets.
    • Equity markets: secondary.
    • Equity markets: primary.
    • Convertibles and warrants.
    • Hedge funds and trading game.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Understand the different methods of trading.
  • Appreciate how traders make money.
  • Build a working knowledge of key financial markets and products.
  • Understand the differences in organisation and practice of different products.
  • Understand the language and some of the more important theories of ethics.
  • Understand the structure and content of CFA institute’s ethics code, and be familiar with the broad context with which it deals.

Research Methods in Finance

Module Leader
  • Dr Vineet Agarwal
Aim

    The module is designed to impart greater understanding of empirical methods in finance and develop important skills in the assessment, analysis and interpretation of published financial research. You will also look at some of the unresolved issues in finance and some of the paradigms in financial research methodology.

Syllabus

    The module covers:

    • The need for and validity of empirical models.
    • Empirical design.
    • Model testing.
    • Interpretation of results and acknowledgement of limitations in empirical research designs.
    • Asset pricing and efficient markets hypothesis anomalies.
    • Capital structure.
    • New issue puzzles.
    • Corporate governance.
    • Accounting information and asset returns.
    • Mergers and acquisitions.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Appreciate the nature of empirical testing of various models.
  • Understand a range of methodologies employed in empirical finance.
  • Recognise the limitations of empirical methodologies.
  • Draw conclusions from empirical studies.
  • Explore some of the unresolved issues in finance.
  • Re-evaluate theories in the light of empirical evidence.
  • Conduct empirical research.

Investment and Portfolio Management

Module Leader
  • Professor Sunil Poshakwale
  • Dr Peter Yallup
Aim

    The module’s aim is to help participants acquire knowledge of investment and portfolio management. The module introduces some of the principal ideas and concepts underpinning the theory and practice of investment. By the end of the module students will be able to understand the main issues involved in investment management and develop skills to construct equity portfolios and manage their risk.

Syllabus

    This module covers:

    • Background to investments and investment process  
    • Investment objectives settings
    • Efficient capital markets
    • Portfolio theory
    • Asset allocation
    • Asset pricing models
    • Capital Asset Pricing Model
    • Arbitrage Pricing Models
    • Fama and French Three factor Models
    • An introduction to security valuation
    • Technical Analysis and EMH
    • Equity portfolio management
    • An informative to equity options and futures
    • Application of equity options and futures in managing equity portfolio
Intended learning outcomes

On successful completion of this module you should be able to:

  • Students will have a good understanding of the investment process and challenges and issues faced by portfolio managers in setting investment objectives.
  • Gain understanding of portfolio and capital markets theory
  • Will know how to price equity stock and be exposed to different asset pricing models
  • Have an understanding of Efficient Market Hypotheses (EMH) and reflect on the theory in view of various anomalies reported in the literature.
  • Will learn how to implement technical analysis and whether these models can generate abnormal returns.
  • Will develop basic understanding of equity options and futures
  • Know how to apply equity options and futures in managing equity portfolios.
  • Understand how portfolio performance could be reviewed using different performance ratios and tools.

Derivatives and Financial Risk Management

Module Leader
  • Dr Peter Yallup
Aim

    This module examines the pricing and usage of derivative securities (forwards, futures, options and swaps) in financial markets. It covers the conceptual and analytical aspects of derivatives as well as the practical applications of derivative securities in the areas of investments, portfolio insurance and risk management. Thus, valuation models as well as hedging strategies will be examined.

Syllabus

    This module will cover:

    • Futures Markets
    • Options Markets
    • Value-at-Risk (VaR)
    • FRAs and Swaps
    • Credit Risk and Credit Derivatives
    • Lessons from Derivatives Use and Misuse
Intended learning outcomes

On successful completion of this module you should be able to:

  • Demonstrate knowledge and understanding of the mechanics of different types of derivative securities such as forwards, futures, swaps and options.
  • Demonstrate the ability to price derivative products using appropriate valuation models and simulation techniques;
  • Demonstrate knowledge and understanding of specific derivative instruments for managing interest rate risk, currency risk and credit risk
  • Evaluate the use of alternative derivative products as risk management tools
  • Evaluate the dangers and risks arising from the use of derivatives products

Electives

Applied Financial Econometrics

Module Leader
  • Dr Yacine Belghitar
  • Dr Peter Yallup
Aim

    The module provides the participants with a solid knowledge of a variety of econometric techniques, useful in modelling and solving financial problems.

Syllabus

    The module covers:

    • Extensions to multiple regression analysis.
    • Relaxing the assumptions of the classical model: multicollinearity, heteroscedasticity and autocorrelation.
    • The use of instrumental variables in time series modelling.
    • ARCH/GARCH models.
    • Simultaneous-equation models.  
    • Stationarity, unit roots and cointegration in time series.
    • Panel data analysis.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Model financial problems, using econometric techniques.
  • Understand the advantages and limitations of regression analysis.
  • Use a number of tools designed to improve financial modelling.
  • Use a system of equations to solve problems that occur simultaneously.
  • Investigate the properties of financial data and understand their influence on financial modelling.

Mergers and Acquisitions

Module Leader
  • Dr Andrea Moro
  • Professor Ruth Bender
Aim

    The module introduces you to the historic pattern of merger and acquisition activity and provides an overview of the five-stage merger and acquisition process. You will explore the organisation's view of mergers, the fundamentals of the deal transaction, antitrust regulation, the bid process and post-acquisition analysis of organisational performance. A simulated takeover game will give you further insight into the acquisition process.

Syllabus

    The module covers:

    • The role of mergers and acquisitions in corporate strategy.
    • Strategic rationale of different merger and acquisition types.
    • How firms organise their merger and acquisition activities.
    • Merger and acquisition deal structuring and negotiation.
    • How to search for, identify and value suitable targets for acquisition.
    • Different bidding strategies and tactics available to bidders.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Identify motivations driving mergers and acquisitions.
  • Recognise fiduciary duties of the board of directors.
  • Apply valuation techniques in valuing targets for acquisition.
  • Understand the impact of methods of payment in mergers and acquisitions.
  • Understand merger arbitrage and price pressure.
  • Measure acquisition performance.

Private Equity

Module Leader
  • Dr Abdul Mohamed
Aim

    Private equity, as opposed to public equity markets, has become a major source of capital for innovation, growth and corporate restructuring.   It now accounts for billions of pounds of investments and has become a global phenomenon. The module will cover topics on the nature of private equity, the spectrum of PEQ activities, the rationale for PEQ, performance record and measurement issues, the importance of PEQ markets and public policy issues.

Syllabus

    The module covers:

    • The private equity cycle: fund raising, investing, exiting.
    • Risk and return assessment of investment projects.
    • Corporate governance issues.
    • Managerial reward systems in private equity firms.
    • Choice of exit strategies and relevant factors.
    • Management buyouts.
    • Leveraged buyouts.
    • Measuring private equity performance.
    • Regulation of private equity firms.
Intended learning outcomes

On successful completion of this module you should be able to:

  • Understand what private equity is and how it differs from public equity.
  • Recognise the range of products on offer: financing of ventures, seed ideas, development, expansion, and different types of buyouts.
  • Appreciate the importance of private equity in promoting innovation, growth and corporate restructuring.
  • Identify how private equity firms raise capital.
  • Distinguish the range of players in the private equity markets.
  • Understand private equity firms’ business models and value creation strategies.
  • Comprehend the risk of high leverage and public policy issues.
  • Classify performance measurement issues.

Investment Banking

Module Leader
  • Steve Wallace
Aim

    The module is structured and presented by an experienced Investment Banking professional. It explores the role of the investment banks in the Anglo-American business model and reviews both their enormous success since the early 1990’s and their sudden recent collapse in the credit crunch. It examines their core businesses, their attitude to risk, potential conflicts of interest inherent in their complex relationships and the future outlook for the industry under different ownership and financial structures in the new, harsher economic climate.

Syllabus

    This module covers:

    • The role of IBs in financial intermediation
    • The historical evolution
    • Investment banking in contrast to commercial banks
    • Types of investment banking activities
    • The competitive structure of investment banking, the main players
    • Impact of macroeconomics, globalisation of capital markets and the regulatory regime
    • Competitive strategies of IBs, core competencies and sources of competitive advantage
    • Organisational and managerial issues
    • Financing investment banks
    • Risk management
    • Recent performance and evaluation of IBs
    • Role and impact of investment banks and conflicts of interest in M&A deals
Intended learning outcomes On successful completion of this module you should be able to:
  • The nature, role and characteristics of investment banks (IBs) as financial intermediaries
  • The products and services IBs offer and the varied capacities in which IBs act
  • The structure of the IB industry, the nature of competition, entry barriers
  • Competitive strategies of IBs
  • Trends which led to the ‘Credit Crunch’ that began in 2007 and the new world faced by IBs
  • The nature and complexity of the relationship with their clients and competitors
  • The organisational and managerial issues in IB
  • The role of IBs in the global market economy.

Fund Management

Module Leader
  • Jane Vessey
Aim

    The investment management industry has often appeared opaque to outsiders, in spite of the fact that most of us are or will be its clients in one way or another. The purpose of this elective is to shed light into the workings of an industry that affects us all, and to look at how theory is actually implemented in practice, and consider the latest developments in the industry.

Syllabus

    This module will cover:

    • Clienteles; regulation and governance.
    • Types of manager; internal organizational structure; active and passive management; hedge funds; quantitative managers; managers of managers.
    • Portfolio construction; factor models, building a decision-making process; sources of added value; the information ratio and the fundamental law of active management; risk budgeting; style analysis; setting realistic risk and return targets.
    • Implementation issues. Managing the trading function; measuring frictional costs; how much turnover makes sense; how much capacity in terms of assets under management does the manager have to add value.
    • Contemporary asset allocation and the move toward
Intended learning outcomes On successful completion of this module you should be able to:
  • Understand how investment managers construct portfolios including asset allocation decisions.
  • Use style analysis to categorise the different types of investment manager.
  • Understand the arguments for and against active and passive management.
  • Assess critically a manager’s investment decision-making process, and delve into how managers attempt to add value and the impact of transaction costs.
  • Evaluate the performance of fund managers and interpret fund reports.
  • Communicate effectively with members of the industry.
  • Consider trends in the industry, including greater use of liability driven investment, separation of alpha and beta and hedge fund strategies.

Fixed Interest Securities

Module Leader
  • Dr Vineet Agarwal
Aim

    This module provides the participants with a solid grounding in the mechanics of fixed income markets and introduces them to bond portfolio management techniques.

Syllabus

    The module will cover bond mathematics, product fundamentals, the structure of the yield curve and yield spreads, risks of investing in bonds, bonds with embedded options, securitization, credit derivatives and basics of bond portfolio management

Intended learning outcomes On successful completion of this module you should be able to:
  • The risks involved in fixed interest securities and how to price fixed rate and floating rate bonds;
  • Duration and convexity of bonds and their use in hedging and investment;
  • The term structure of interest rates and using yield curve to price fixed rate bonds;
  • Basic analytics for bonds with embedded options;
  • Some basic structured products; and
  • The basics of active and passive bond portfolio management.

Technical Analysis and Trading Systems

Module Leader
  • Dr Peter Yallup
Aim

    This module covers the basic building blocks of Technical analysis and allows students to develop their own trading strategies by recognising recurring patterns in price movement and determining the most likely result.

Syllabus

    This module covers:

    • Introduction to charting and Dow theory
    • Charting systems and techniques
    •  Identifying trading signals through regression analysis
    • Momentum and oscillators
    • Seasonality and cyclicality
    • Volumes, spreads and arbitrage
    • Adaptive techniques of Technical Analysis
    • Trading systems testing and risk control
Intended learning outcomes On successful completion of this module you should be able to:
  • Have a comprehensive understanding of theories and techniques of Technical Analysis
  • Be able to construct charts and test trading rules using real financial data
  • Understand how statistical tools such as regression analysis can be used for forecasting with technical indicators
  • Critically assess the performance of technical forecasters and forecasting systems
  • Develop the ability to select and apply practical techniques for trading

International Investment and Emerging Markets

Module Leader
  • Professor Sunil Poshakwale
Aim

    The module aims to offer both academic research and practical guidance on investing in emerging markets. The module also aims to explain why policies and regulations matter and how to risks can be managed.

Syllabus

    This module will cover:

    • Introduction to Emerging Markets
    • Reasons for Investing in Emerging Markets: Growth and Diversification
    • How to Invest in Emerging Markets
    • Comparing investment styles
    • The risks involved and their management
    • Boom to Bust: How, When, and Why?
    • Long and short term perspectives of investing in emerging markets
    • Regulatory issues and challenges of investing emerging markets
Intended learning outcomes On successful completion of this module you should be able to:
  • Students will know how and why countries are categorised as emerging markets
  • Have a good understanding of the investment opportunities and benefits of investing in emerging markets
  • Know the different investment styles and routes that can be used for investing in emerging markets
  • How to pick industries and companies that are likely to do well
  • Have a good understanding of the various risks involved in investing in emerging markets and how these can be managed
  • Gain an understanding of the regulatory issues and challenges while investing in emerging markets
  • Have an appreciation of academic research and empiric

Fees and funding

European Union students applying for university places in the 2017 to 2018 academic year will still have access to student funding support.

Please see the UK Government’s Department of Education press release for more information

Cranfield University welcomes applications from students from all over the world for our postgraduate programmes. The Home/EU student fees listed continue to apply to EU students.

MSc Full-time £23,000

Fee notes:

  • The fees outlined apply to all students whose initial date of registration falls on or between 1 August 2017 and 31 July 2018.
  • All students pay the tuition fee set by the University for the full duration of their registration period agreed at their initial registration.
  • A non-refundable £1,000 deposit is payable on offer acceptances and will be deducted from your overall tuition fee. 
  • Additional fees for extensions to the agreed registration period may be charged and can be found below.
  • Fee eligibility at the Home/EU rate is determined with reference to UK Government regulations. As a guiding principle, EU nationals (including UK) who are ordinarily resident in the EU pay Home/EU tuition fees, all other students (including those from the Channel Islands and Isle of Man) pay Overseas fees.

For further information regarding tuition fees, please refer to our fee notes.

MSc Full-time £23,000

Fee notes:

  • The fees outlined apply to all students whose initial date of registration falls on or between 1 August 2017 and 31 July 2018.
  • All students pay the tuition fee set by the University for the full duration of their registration period agreed at their initial registration.
  • A non-refundable £1,000 deposit is payable on offer acceptances and will be deducted from your overall tuition fee. 
  • Additional fees for extensions to the agreed registration period may be charged and can be found below.
  • Fee eligibility at the Home/EU rate is determined with reference to UK Government regulations. As a guiding principle, EU nationals (including UK) who are ordinarily resident in the EU pay Home/EU tuition fees, all other students (including those from the Channel Islands and Isle of Man) pay Overseas fees.

For further information regarding tuition fees, please refer to our fee notes.

Funding Opportunities

To help students in finding and securing appropriate funding we have created a funding finder where you can search for suitable sources of funding by filtering the results to suit your needs. Visit the funding finder.

Bursaries and scholarships

We have a limited number of bursaries available for exceptional candidates, worth up to a maximum of £4,000. These are awarded at the course director's discretion and are based on merit as well as considerations of financial need. If you would like to be considered for a bursary, please indicate so in in the financial details section of your application.

Postgraduate Loan from Student Finance England

A Postgraduate Loan is now available to help you pay for your Master’s course. You can apply for a loan at GOV.UK

Entry requirements

We welcome applications from talented candidates of all backgrounds and each application is considered on its individual merit. Usually candidates must hold either a:

  • first or a second class UK honours degree in a relevant discipline
  • international degree - equivalent of UK qualifications
  • professional qualification (e.g. CIMA, ACA, ACCA) with 5 years' relevant work experience.

Exposure to quantitative subjects

Exposure to quantitative subjects (mathematics, statistics, engineering, economics etc.) from previous studies or work experience is essential for this course.

English Language

If you are an international student you will need to provide evidence that you have achieved a satisfactory test result in an English qualification. The minimum standard expected from a number of accepted courses are as follows:

IELTS - 6.5, with a minimum of 6.5 in the writing component

TOEFL - 92, with a minimum of 21 in the writing component

Pearson PTE Academic - 65

Cambridge English Scale - 180

Cambridge English: Advanced - C

Cambridge English: Proficiency - C

In addition to these minimum scores you are also expected to achieve a balanced score across all elements of the test. We reserve the right to reject any test score if any one element of the test score is too low.

We can only accept tests taken within two years of your registration date (with the exception of Cambridge English tests which have no expiry date).

Students requiring a Tier 4 (General) visa must ensure they can meet the English language requirements set out by UK Visas and Immigration (UKVI) and we recommend booking a IELTS for UKVI test.

International students who do not already meet the English language entry requirement for their chosen Cranfield course can apply to attend one of our Presessional English for Academic Purposes (EAP) courses. We offer Winter/Spring and Summer programmes each year to offer holders.

Your career

94% of School of Management students were employed within 3 months of graduation.

The Cranfield Career Development Service offers a comprehensive service to help you develop a set of career management skills that will remain with you throughout your career.

During your course you will receive support and guidance to help you plan an effective strategy for your personal and professional development, whether you are looking to secure your first management role, or wanting take your career to the next level.

The 2016 Financial Times Master's in Finance ranking ranked Cranfield 1st in the UK for careers.

Our graduates are highly valued in the job market and aim for careers in investment banking, financial services or the financial function of a diverse range of global corporations. Last year's Investment Management MSc graduates secured jobs with a diverse range of organisations including JP Morgan, Standard Chartered, CommerzBank, Henderson and Gimv.

Cranfield Career Development video
Cranfield Career Development video

Applying

To apply you will need to register to use our online system. Once you have set up an account you will be able to create, save and amend your application form before submitting it.

Once your online application has been submitted together with your supporting documentation, it will be processed by our admissions team. You will then be advised by email if you are successful, unsuccessful, or whether the course director would like to interview you before a decision is made.  Applicants based outside of the UK may be interviewed either by telephone or video conference.

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