Department of Business and Management

Banking and Finance (2015 entry)

MSc, 1 year full time/2 years part time

Register your interest for 2015 entry

Subject overview

  • Our courses are taught by world-renowned faculty with a strong background in relevant areas of research. 
  • Our range of courses builds on Sussex’s strong foundation of interdisciplinary study, encompassing corporate risk management, entrepreneurship, international finance, and international and innovation management. 
  • Our teaching is designed to provide you with the knowledge and skills to compete effectively in the fast-paced world of work. We tailor our taught courses to meet current and future employer demands, and will continue to adapt to the changing employment market. 
  • Our courses offer a choice between practice- and research-oriented study opportunities. They have been developed drawing on the expertise and input of experienced practitioners from industry and professional bodies. These experts complement our own expertise in research and help to enrich your learning experience. 

Global perspective

55th in the world for international outlook

Times Higher Education World University Rankings 2013-2014

Academic quality

14th in the UK
43rd in Europe
111th in the world

Times Higher Education World University Rankings 2014-2015

  • 1,600 km2 of South Downs
    National Park area

  • 4,600
    students live on campus

  • 700,000 books and e-books, and
    30,000 journals in the library

  • 13,800
    students study at Sussex

  • Around 4,500 full- and
    part-time jobs advertised each year
    Over 900 paid internships
    advertised in the last 18 months
    300 careers events each year

  • £500-million future investment
    in campus buildings and facilities

  • Over 95 countries across the world
    are home to Sussex graduates

  • 956 academic staff
    1,214 professional services staff

  • 140 student societies and
    over 30 sports clubs

  • 28,000-seater American
    Express Community Stadium

  • £24.7-million
    research income

  • < 9 minutes to Brighton
    < 30 minutes to Gatwick Airport
    < 60 minutes to central London
    < 90 minutes to Heathrow Airport


Emmanuel's faculty perspective

Emmanuel Mamatzakis

'One point that I have treasured, from my days of working for the Greek government and taking part in eurogroup and ECFIN meetings in Brussels, is that the banking industry is the cornerstone of financial stability worldwide. The recent global credit crunch has clearly identified the necessity to keep a close eye on the balance sheets of banks and other financial institutions. My recent research focuses on the idea that by achieving efficiency in regulation while enhancing a rules-based financial framework, we could improve bank performance and thereby boost growth.

'I am strongly committed to continue publishing in leading banking and finance journals. This provides me with the opportunity to bring the best from new research into my teaching. Against this background, the MSc in Banking and Finance comes in a timely manner to provide you with essential knowledge and understanding of the main theoretical and applied concepts in banking and finance, delivered from the international and multicultural perspective, preparing you for an amazing range of careers.'

Emmanuel Mamatzakis
Professor of Finance,
University of Sussex

Programme outline

The banking and financial industry is highly competitive and evolves rapidly. As a result of increasing financial integration worldwide, the industry has gone through a number of remarkable structural changes in the last five years. The general trend towards greater integration has been bolstered by the increasing harmonisation of the regulatory framework and the increasing integration of the underlying financial infrastructure. Against this background, our MSc provides you with essential knowledge and understanding of the banking and finance industry. 

Within our School, a strong team of academics from a wide variety of cultural backgrounds is devoted to research in banking and finance at the forefront of the contemporary research agenda and has a strong publication record in leading economics and finance journals. This experience makes our MSc stand out from courses offered elsewhere. We offer modules in line with the most recent developments in the industry, delivered from an international and multicultural perspective, and specialist modules in the recent financial crises and Islamic banking. 

The MSc gives you a comprehensive understanding of the main theoretical and applied concepts in banking and finance. In addition, it offers you comprehensive training in banking management and accounting as well as in-depth appreciation of the finance industry, giving you a wide range of opportunities to specialise in advanced topics in banking and finance. You: 

  • get professional training in banking, accounting, risk management, investment analysis, corporate finance, derivatives, financial microstructure and taxation 
  • review modern theoretical and real-world practical developments relating to banking and finance 
  • look at the diverse nature of the banking industry in geographical areas such as Europe, America, Asia and the Arabic peninsula 
  • gain technical skills through a scheme of quantitative analysis 
  • look at advanced practical applications of financial techniques in a real-world setting 
  • examine the underlying theories of the banking firm 
  • study the structure, performance and efficiency of banking and financial markets 
  • learn about bank regulation and risk management in light of the recent credit crunch 
  • focus on the measurement of risks undertaken by banks 
  • look at futures, options, derivatives and swaps as used by banks to manage their balance-sheet and off-balance-sheet risks. 

 Assessment 

Assessment methods vary and include unseen examinations and dissertation/projects.

We continue to develop and update our modules for 2015 entry to ensure you have the best student experience. In addition to the course structure below, you may find it helpful to refer to the Modules tab.

Autumn term: you take Accounting for Decision- Makers • Bank Financial Management • Banking and Financial institutions • Corporate and International Finance • Quantitative Methods for Finance. 

Spring term: you take Bank Risk Management • Financial Derivatives • Research Methods. You choose two options from Corporate Governance • Financial and Time Series Econometrics • Financial Crises and Bank Regulation • Information Systems and Management • Money and Banking • Multinational Financial Management. 

Summer term: you conduct a Research Method Project in Banking and Finance.

Back to module list

Accounting for Decision Makers

15 credits
Autumn teaching, year 1

This module is designed as an introduction for non-financial managers to comparative international accounting, and financial reporting and analysis, within the context of converging standards.

No prior knowledge of accounting procedures is assumed or required.

Bank Financial Management

15 credits
Autumn teaching, year 1

This module provides a comprehensive account of the primary aspects of bank financial management. Bank financial management covers the fundamental bank instrumental techniques, such as bank asset investment and bank funding instruments, and measuring costs and yield curves. The module demonstrates how bank managers evaluate bank performance, specifically using operational performance measures and frontier analysis, then details the elements of bank asset and bank liability management. Novel aspects of bank strategies are covered, including bank funding alternatives, pricing off balance sheet items, and contingent claims products. International banking and foreign exchange are also discussed. In addition, the module deals with bank mergers and acquisitions.

Bank Risk Management

15 credits
Spring teaching, year 1

Banking and Financial Institutions

15 credits
Autumn teaching, year 1

This module aims to provide you with a combination of theoretical background and practical insight into some of the main strategic issues faced by the modern banking institutions. The module provides a good grasp of both the basics (the structure and environment of banking) and selected aspects of the applied economics of the modern banking firm. The topics covered include structure-conduct-performance, competition, bank efficiency, regulation, international banking and bank failures and crises.

Corporate and International Finance

15 credits
Autumn teaching, year 1

This module covers the most important topics in corporate finance such as: capital investment decision-taking; financing andcapital structure; risk management; and portfolio theory. You will then analyse issues in international finance including: models of exchange rates; efficiency in foreign exchange markets; monetary unions; and international financial crises.

Corporate Governance

15 credits
Spring teaching, year 1

This module aims to introduce you to the roles and functions of boards of directors as well as the organisational structure of different types of firms, such as those within extended family networks and those of an entrepreneurial nature. This will involve developing understanding of information management systems and accounting techniques that assist effective board-level decision making as well as in the assessment of board and CEO effectiveness. The relevance of different boards structures will be discussed through a comparison of split boards and supervisory boards and the module will cover contemporary issues such as shareholder activism, the role of family and corporate block-shareholder control. Equally, the importance of worldwide differences in legal and institutional settings and their impact on corporate structure and governance will be discussed. While you will gain appreciation into contemporary issues effecting management structure of major corporations you will also be expected to apply this in real-life topical settings.

Financial Crises and Bank Regulation

15 credits
Spring teaching, year 1

This module seeks to provide a comprehensive analysis of the financial sector regulation and supervision and central bank liquidity management. The ongoing financial crisis implies that the focus should be on the implications and lessons for the future of the financial markets. The module presents the inadequacies in macroeconomic, in particular fiscal, policies and the need to redesign the international financial architecture regarding the regulatory framework.

Financial Derivatives

15 credits
Spring teaching, year 1

This module provides up-to-date coverage of the main aspects of financial derivatives. Moreover, it gives an overview of the mechanics of futures markets, the hedging strategies using futures, the determination of forward and futures prices, the mechanics of options markets and the swaps, and the Greek letters. The module presents the corner stone of financial derivatives, namely the Black-Scholes-Merton Model and goes further to introduce Value at Risk.

Financial and Time Series Econometrics

15 credits
Spring teaching, year 1

This course introduces you to a variety of applied time-series econometric techniques, giving you the skills  to enable you to independently use these techniques with confident. An important emphasis of the course is to provide you with hands-on experience of econometric analysis through using a variety of economic data sets.

Information Systems and Management

15 credits
Spring teaching, year 1

Money and Banking

15 credits
Spring teaching, year 1

Multinational Financial Management

15 credits
Spring teaching, year 1

The main aim of this module is to evaluate the financial decision-making of companies operating internationally, providing an understanding of global capital markets, in the context of international trade patterns, international monetary systems, exchange rate regimes and foreign exchange markets, as well as tax rules and legal and institutional complexities. You will also develop competences in the appraisal of international capital expenditure choices and in the effective implementation of multinational management control systems. In addition, the module considers the political risks faced by multinational enterprises, including firm-specific risk, country risk, and global risk, together with an assessment of the origins and repercussions of the current credit crisis, including the international scale of securitization, and the impact of market failure in international interbank markets on multinational financial management.

Summary outline: currency regimes and markets and the management of foreign exchange risk; measuring and managing exchange exposure; international financing and capital market integration; the cost of capital for foreign investments; capital budgeting for the multinational corporation; working capital management; taxation and transfer pricing; country risk analysis and the implications of the financial crisis of 2007-09 and module resumé.

Quantitative Methods for Finance

15 credits
Autumn teaching, year 1

This course provides an introduction to statistical techniques needed in the study of finance. It covers parametric and non-parametric hypothesis testing with financial applications, ANOVA, diagnostic testing, regression analysis in a financial context and experimental design It provides the key tools needed for the FATSE course which follows in the spring term.

Research Methods (Finance, Accounting and Banking)

15 credits
Spring teaching, year 1

Research Project (MSc Banking and Finance)

30 credits
Summer teaching, year 1

The main aim of this module is to enable you to undertake an applied research project. Specifically, it involves researching and writing up, in the form of a dissertation, a specific aspect of banking in a way that would support effective decision-making within an international/national banking context.

Research skills will be taught as part of this module to enable students, through reflective practice, to apply those skills to a specific research topic in banking.
For example, you will be able to estimate bank efficiency scores using either non-parametric (DEA) or parametric (SFA) methodology so as in a second stage to examine empirically the impact of underlying contributing factors, such as Basel III regulation framework, on efficiency. Towards this goal, you will benefit from the new state of the art academic building and the new on-line data bases such as Bloomberg and Bankscope.

The aim is to enable you to critically survey and identify relevant theories and models and then to employ them in banking and finance. The skills and context aspects of the module prepare you for this task as well as fulfilling programme objectives related to generic transferable skills. Some students, such as those sponsored by organisations, may wish to examine a particular problem/area for their organisation.

Planning Phase (Teaching Block 2/Spring)
Research problems, issues and controversies in the field of banking and finance;
Planning and designing research; literature review; methododologies in banking;
analysis of data; empirical estimations; implications and conclusions.

Research Phase (Teaching Block 2 - Teaching Block 3/Spring - Summer)
Individual, self-directed research of the approved topic, leading to the submission of a written Research Portfolio and Research Project.

Back to module list

Entry requirements

UK entrance requirements

A first- or upper second-class undergraduate honours degree or equivalent professional qualification.

Overseas entrance requirements

Overseas qualifications

If your country is not listed below, please contact the University at E pg.enquiries@sussex.ac.uk

The following table is given as a general guide for our taught postgraduate degrees requiring a first- or upper-second class undergraduate honours degree. If you have any questions, contact the University at E pg.enquiries@sussex.ac.uk

CountryOverseas qualification
Australia Bachelor (Honours) degree with second-class upper division
Brazil Bacharel, Licenciado or professional title with a final mark of at least 8
Canada Bachelor degree with CGPA 3.3/4.0 (grade B+)
China Bachelor degree from a leading university with overall mark of 75%-85% depending on your university
Cyprus Bachelor degree or Ptychion with a final mark of at least 7.5
France Licence with mention bien or Maîtrise with final mark of at least 13
Germany Bachelor degree or Magister Artium with a final mark of 2.4 or better
Ghana Bachelor degree from a public university with second-class upper division
Greece Ptychion from an AEI with a final mark of at least 7
Hong Kong Bachelor (Honours) degree with second-class upper division
India Bachelor degree from a leading institution with overall mark of at least 60% or equivalent
Iran Bachelor degree (Licence or Karshenasi) with a final mark of at least 15
Italy Diploma di Laurea with an overall mark of at least 105
Japan Bachelor degree from a leading university with a minimum C/GPA of at least 3.0/4.0 or equivalent
Malaysia Bachelor degree with CGPA of at least 3.3/4.0 or B+
Mexico Licenciado with a final mark of at least 8
Nigeria Bachelor degree with second-class upper division or CGPA of at least 3.5/5.0
Pakistan Four-year bachelor degree, normally with a GPA of at least 3.3
Russia Magistr or Specialist Diploma with a minimum average mark of at least 4
South Africa Bachelor (Honours) degree or Bachelor degree in Technology with an overall mark of at least 70%
Saudi Arabia Bachelor degree with an overall mark of at least 70% or CGPA 3.5/5.0 or equivalent
South Korea Bachelor degree from a leading university with CGPA of at least 3.5/4.0 or equivalent
Spain Licenciado with a final mark of at least 2/4
Taiwan Bachelor degree with overall mark of 70%-85% depending on your university
Thailand Bachelor degree with CGPA of at least 3.0/4.0 or equivalent
Turkey Lisans Diplomasi with CGPA of at least 3.0/4.0 or equivalent depending on your university
United Arab Emirates Bachelor degree with CGPA of at least 3.0/4.0 or equivalent
USA Bachelor degree with CGPA 3.3-3.5/4.0 depending on your university
Vietnam Masters degree with CGPA of at least 3.5/4.0 or equivalent

If you have any questions about your qualifications after consulting our overseas qualifications, contact the University at E pg.enquiries@sussex.ac.uk

English language requirements

IELTS 6.5, with not less than 6.0 in each section.

For more information, refer to What qualifications do I need?

Visas and immigration

Find out more about Visas and immigration.

Additional entry information

If you are a non-EU student and your qualifications (including English language) do not yet meet our entry requirements for admission directly to this degree, we offer a Pre-Masters entry route. For more information, refer to Pre-Masters for international students.

For more information about the admissions process at Sussex

For pre-application enquiries:

Student Recruitment Services
T +44 (0)1273 876787
E pg.enquiries@sussex.ac.uk

For post-application enquiries:

Postgraduate Admissions,
University of Sussex,
Sussex House, Falmer,
Brighton BN1 9RH, UK
T +44 (0)1273 877773
F +44 (0)1273 678545
E pg.applicants@sussex.ac.uk 

Fees and funding

Fees

Fees for studying on courses available on a part-time basis will be charged at 50 per cent of the full-time fees listed below.

Home UK/EU students: £7,900 per year1
Overseas students: £15,850 per year2

1 The fee shown is for the academic year 2015.
2 The fee shown is for the academic year 2015.

For more information on fee status, visit Fees

Visit Living costs

Scholarships

The funding sources listed below are for the subject area you are viewing and may not apply to all degrees listed within it. Please check the description of the individual funding source to make sure it is relevant to your chosen degree.

Visit Postgraduate taught scholarships 2015

Visit Career development and part-time work

We are in the process of updating funding sources for postgraduate study in the academic year 2015/16. For general information, visit Postgraduate taught scholarships 2015.

For more information on scholarships go to the Scholarships web pages.

Faculty interests

Prof Katie Bailey
Professor Of Management
K.Bailey@sussex.ac.uk

Research interests: callings, Change Management, employee engagement, gender and employment, HRM in the public sector, Human resource management, knowledge-intensive firms, meaningful work, strategic human resource management

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Dr Dimitrios Gounopoulos
Reader In Accounting And Finance
D.Gounopoulos@sussex.ac.uk

Research interests: Bond Issues, Capital Structure, Commodities, Dividend Policy, Earnings Management, Educations of CEOs, Executive Compensation, Finance, Gold - Precious Metals - Industrial Metals, Initial Public Offering, International Accounting Issues, Pension Funds, Political Connections

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Dr Bruce Hearn
Senior Lecturer in Accounting & Finance
B.A.Hearn@sussex.ac.uk

Research interests: Corporate finance, corporate governance, Finance, Financial Management

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Dr Surendranath Jory
Lecturer in Finance
sjory@sussex.ac.uk

Research interests: Finance

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Prof Emmanuel Mamatzakis
Professor of Finance
E.Mamatzakis@sussex.ac.uk

Research interests: Applied Econometrics, banking, Behavioural economics, Finance, Public finances, Risk management

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Dr Mike Osborne
Lecturer in Accounting & Finance
M.J.Osborne@sussex.ac.uk

Research interests: Capital budgeting, Corporate finance, Finance, Fixed income mathematics, Interest rates, Investment appraisal, Project analysis, Retail finance, Time value of money

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Dr Nikolaos Papanikolaou
Lecturer in Banking and Finance
N.Papanikolaou@sussex.ac.uk

Research interests: banking, Business economics, Economics, Finance, Financial regulation, Monetary Economics, Risk Analysis

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Prof Barry Reilly
Professor of Econometrics
B.M.Reilly@sussex.ac.uk

Research interests: Applied Econometrics, Applied Economics, Development Economics, Labour economics

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Dr Shqiponja Telhaj
Lecturer in Economics
S.Telhaj@sussex.ac.uk

Research interests: Applied microeconomics, Economics of Education, Labour economics

View profile

Careers and profiles

This MSc provides you with the essential skills and knowledge for a successful career in banking and finance, and helps you develop the managerial and technical analytical skills required by employers in the private and public sectors. This course may be attractive to you if you aim to work in: 

  • the City of London 
  • multinational banking and financial corporations 
  • investment banking and fund management 
  • large international financial bodies such as the IMF and the World Bank 
  • Central Banks such as the Bank of England, ECB 
  • Government bodies such as the Treasury. 

To find out more, visit Careers and alumni

School and contacts

Contact us

School of Business,
Management and Economics,
University of Sussex, Falmer,
Brighton BN1 9SL, UK
T +44 (0)1273 872668
E bmec@sussex.ac.uk 

School of Business, Management and Economics Online Open Event

Find out more about the taught postgraduate (Masters) courses offered by the School, and understand how they can boost your career prospects.

Wednesday 15 April to Wednesday 29 April

To secure your place, register for our Online Open Event today

Visit the Department of Business and Management

Visit the Department of Economics

Visit SPRU - Science Policy Research Unit

Discover Postgraduate Study information sessions

If you cannot make it to our Postgraduate Open Day, you are welcome to attend one of our Discover Postgraduate Study information sessions. These are held in autumn, spring and early summer and enable you to find out more about postgraduate study and the opportunities Sussex has to offer.

Book your place on one of our Discover Postgraduate Study information sessions

Other ways to visit Sussex

We run weekly guided campus tours year round.

Book your place on one of our guided campus tours

You are also welcome to visit the University independently without any pre-arrangement.

Our online campus tour can also give you an excellent introduction to the University.

Take our online campus tour

Overseas visits

Meet with Sussex staff in your country at exhibitions, visits to schools and universities, and at a wide range of other events. Forthcoming visits are planned all over the world:

Bahrain • Brazil • Brunei • Canada • China • Colombia • France • Germany • Ghana • Greece • Hong Kong • India • Indonesia • Iraq • Italy • Japan • Kenya • Kuwait • Malaysia • Mexico • Nigeria • Norway • Pakistan • Qatar • Saudi Arabia • Singapore • South Korea • Spain • Sri Lanka • Taiwan • Thailand • Turkey • UAE • USA • Vietnam.

In-country representatives

In the International Office, we manage a network of overseas representatives who have been trained to support international students with their application to study at the University. Services representatives provide can include pre-departure information, support in submitting your housing application and advice regarding applying for a UK Student Visa.

Find out more about our overseas visits and in-country representatives

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