It focuses on real-world challenges and empowers you to excel in the global finance workplace. Students will benefit from a diverse student cohort and our faculty’s expertise and industry experience. Cranfield School of Management consistently performs well in international business rankings. We are ranked 8th in the UK and 37th in Europe in the Financial Times European Business School 2023 Rankings.
Overview
- Start date3 June 2024
- Duration18 months
- DeliveryTaught modules 60%, Dissertation 40%
- QualificationMSc
- Study typeOnline / Part-time
- CampusOnline
Who is it for?
- New graduates seeking to develop advanced skills in Finance and Management.
- Experienced professionals looking for a career change.
Why this course?
- Cranfield School of Management consistently performs well in international business rankings. We are ranked 8th in the UK and 37th in Europe in the Financial Times European Business School 2023 Rankings.
- You will develop expertise in finance and management, with comprehensive insights into economics, financial data analysis, strategic management, social and impact investing, corporate and international finance.
- You will master the application of financial and management theories through varied methods including case studies, simulations, and your individual thesis project.
- You will benefit from instructions by seasoned professionals in finance and business, supplemented with insights from guest speakers.
- You will have the opportunity to study within a truly international environment, with students and academics coming from over 50 countries.
Informed by Industry
An external advisory panel informs the design and development of the course, and comprises senior finance practitioners, 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.
Course details
This course consists of 12 taught modules and a dissertation. Each module is delivered online via live lectures and self-paced materials over 5 weeks.
Course delivery
Taught modules 60%, Dissertation 40%
Dissertation
You will undertake research for your individual thesis, enabling you to apply the knowledge and skills you have learnt during the course. This provides the opportunity to work in an original way.
Course modules
Compulsory modules
All the modules in the following list need to be taken as part of this course.
Accounting
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Aim |
The key objective for this course is that students develop a clear understanding of the basics of accounting. By the end of the course, students would be able to interpret accounting information with confidence and use it to make decisions and be able to communicate accounting numbers to 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. The first part of the lectures will cover accounting principles and provide understanding on 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 sessions are devoted to Management Accounting and cover internal accounting by managers for planning and control. Students will cover the nature and classification of costs, break-even analysis, allocation of overheads; preparing and using budgets, variance analysis. |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Corporate Finance
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Aim |
This core module provides a 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 and payout decisions. Based on recent theoretical and empirical developments, the course explores the framework in which corporations make their financial and investment decisions. |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Financial Data Analysis
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Aim |
This core module aims to provide the relevant mathematical and statistical training necessary to be able to conduct appropriate empirical studies and apply theoretical financial models in practice. Specific aims include hypotheses testing & statistical inference, developing simple models, summarising data and findings, and making supportable conclusions. |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Economics for Financial Markets
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Aim |
To introduce the concepts and techniques of Microeconomics (e.g. market analysis, price theory, rationality) and Macroeconomics (e.g. inflation, exchange rates and interest rates) in a way which provides a core foundation for later applied financial analysis in a range of other core and elective courses on the MSc in Finance and Management and MSc in Investment Management. In the Context of the Financial markets, it is imperative that students be aware of the fundamental principles and concepts pertaining to Economic Theory per se. Studying economics not only does it provide knowledge for making decisions but it also offers a tool with which to approach questions such as the desirability of a particular financial investment opportunity, the benefits and costs of alternative careers, or the likely impacts of public policies. |
Syllabus |
The initial few sessions are spent on discussion of the concept of equilibrium as it applies to the micro and macro structures of a broad range of financial markets. In the next four sessions, an understanding of 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 is developed. Finally, remaining sessions are devoted to discussion of the concepts and ideas in macroeconomics which have a direct relevance to financial markets. Particularly, discussion is centered on understanding of monetary economics and the institutional context to which it applies. Discussion of structure of money and capital markets rounds up this module. |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Financial Markets, Regulation and Ethics
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Aim |
The course begins in Part I with an overview of the international financial markets, the major financial institution participants and product types. You will understand the roles, motivations and behaviours of market players including the importance of risk-taking. The role of regulation will be highlighted and examined in Part II. This will include the aims and structures of regulation. In Part III, you will examine, using a seminal textbook on business ethics the role and limitations of ethics in financial markets, ethical decision-making frameworks, and evaluate real world cases of lapses in culture and impact upon society and the markets. The challenge of identifying and promoting ethical behaviour will be acknowledged. |
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Intended learning outcomes |
On successful completion of this module you should be able to:
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Organisational Management
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Syllabus |
The module covers: |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Investing for Environmental and Social Impact
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Aim |
This module focuses on environmental, social and governance (ESG) criteria into financial decisions. It provides students with insight into how impact investors seek to generate environmental and social impacts in addition to financial returns. Module targets students seeking careers in financial services who want to better understand the interaction of capital markets and policy issues. The class will draw upon principles of finance, public policy and investment management to evaluate specific cases and investment tools in areas such as environmental markets and climate change, public finance and sustainable development. Students will be exposed to both traditional and alternative risk management approaches and investment theory frameworks, as well as a range of case studies on the role and impact of institutional investors, banks, financial supervisory authorities and governments in aligning financial markets with ESG goals. |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Business Valuation
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Aim |
To develop a good understanding of the techniques of valuation of businesses as well as the different securities issued by them, this is vital for various stakeholders including managers, investors, governments, and regulators. This understanding has a bearing on both financing decisions (issue of equity or debt) and investment decisions (identifying firm value for acquisitions, divestitures etc.). This module provides the framework for valuing businesses as well as financial modelling to aid decision making. |
Syllabus |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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FinTech, Start-Ups and Small Business Finance
Aim |
This module focuses on financing issues faced small business ventures, entrepreneurial firms as well as by very innovative and technological based start-ups. It explores the issues from the perspective of the entrepreneur, the investors and the providers of debt finance. The module aims to provide students with awareness and understanding of the risk incurred by investing in an entrepreneurial firm (entrepreneurs, providers of equity and providers of debt) as well as to explain how technology is revolutionising the financial strategy start-ups can pursue. Thus, it implies: |
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Syllabus |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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International Corporate Finance
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Aim |
This module aims to develop a solid understanding of foreign exchange and interest rate risks that multinational corporation encounter. The main focus is on developing insights on how and why these risks arise and what can be done to manage these risks. The other aim is to provide students with commonly used applications of derivatives in managing exchange rate and interest rate risks.
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Syllabus |
The initial sessions are used to introduce students to the world of foreign exchange markets, how exchange rates are quoted and interpreted and what role FOREX markets play in the international finance. The following sessions are devoted to the detailed discussion of underlying theoretical models which explain the relationship between interest rates, inflation, and other macro-economic variables and the exchange rates. How forward rates are determined in the market and why covered interest rate arbitrage and carry trades occur and how they are used by investors to exploit disequilibrium in the foreign exchange rates. This is followed by the discussion of why and how multinational corporations invest in foreign markets. The key determinants of FDI with a particular emphasis on emerging markets are explored in detail. This is followed by discussion of basics of currency derivatives and how they work. The remaining sessions are devoted to the discussion of different types of foreign exchange exposures and how they affect market value. How transaction and operating exposure are managed by both internal hedging techniques and derivatives are discussed in detail using case studies. A detailed discussion of how interest rate risks arise and how it affects the multinational corporations is followed by how these risks are managed. Students learn about interest rate and currency swaps, how they are set up and how they are valued. The final sessions are used for discussion of international capital budgeting process, how it is done and how key risks need to be considered and managed. |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Strategic Management
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Aim |
Strategic Management is concerned with the direction and scope of the organisation. This involves determining the purpose of the organisation, establishing objectives and formulating strategies to achieve the objectives. It predominantly explores how an organisation positions itself with regard to its changing environment and in particular its competitors, in order to gain and sustain competitive advantage. This means that strategic management considers how an organisation’s internal resources and capabilities can be developed to meet the changing demands of customers, in such a way as to achieve the expectations and objectives of its stakeholders. |
Syllabus |
The module begins by focusing on strategy at the strategic business unit level. It is orientated around five key questions: 1) where to compete? 2) how to gain competitive advantage? 3) what capabilities are required? 4) what capabilities do we have? 5) how do we change? The module then explores corporate level strategy and the issue of strategy implementation and change. Throughout the module a range of tools and techniques for strategic analysis and choice will be introduced.” |
Intended learning outcomes |
On successful completion of this module a student should be able to:
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Applied Research Methods in Finance
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Aim |
This module is designed to provide participants with the required skills for structuring their research projects including conceptualising research questions and writing literature reviews. It uses the positivist approach to finance and introduces the need for and validity of empirical models. The module also imparts a greater understanding of the empirical methods in finance and develops important skills in the assessment, analysis and interpretation of published financial research. |
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Intended learning outcomes |
On successful completion of this module a student should be able to:
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Keeping our courses up-to-date and current requires constant innovation and change. The modules we offer reflect the needs of business and industry and the research interests of our staff. As a result, they may change or be withdrawn due to research developments, legislation changes or for a variety of other reasons. Changes may also be designed to improve the student learning experience or to respond to feedback from students, external examiners, accreditation bodies and industrial advisory panels.
To give you a taster, we have detailed the compulsory and elective (where applicable) modules which are currently affiliated with this course. All modules are indicative only and may be subject to change for your year of entry.
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. The Course Director for this course is Dr Wasim Ahmad.
Your career
The Careers and Employability 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 finance role or wanting take your career to the next level.
Cranfield 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. Our Finance MSc graduates have secured jobs with organisations including PricewaterhouseCoopers, Barclays Investment Bank, Bloomberg, Bank Indonesia, Lloyds Banking Group, Credit Agricole, Diageo, Ernst & Young, Thomson Reuters, Toyota, UBS and Morgan Stanley. Their roles have included Data Analyst, Financial Planner, Consultant, Private Equity Analyst and Financial Risk Manager.
How to apply
Our students do not always fit traditional academic or career paths. We consider this to be a positive aspect of diversity, not a hurdle. We are looking for a body of professional learners who have a wide range of experiences to share. If you are unsure of your suitability for our Finance and Management (Online) MSc, we are happy to review your details and give you feedback before you make a formal application. You can also contact Dr Wasim Ahmad, Course Director, for more information about the course and your application: wasim.ahmad@cranfield.ac.uk
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.
Read our Application Guide for a step-by-step explanation of the application process from pre-application through to joining us at Cranfield.
Application deadline: 19 May 2024