Course Type: Postgraduate (taught)
Training Provider: University of Glasgow
School/Institute/Dept./Centre: Centre for Development Studies (CDS)

The programme of study leading to the degree of MSc in Economics, Banking and Finance is designed for:
 
1. policy-makers in government ministries and developing countries’ central banks;
2. postgraduate students who are interested in issues of particular concern to developing countries;
3. those who work in financial institutions and government organisations involved in decision making.
 

Programme Structure

Students take four core courses and select two optional courses from the list below. MSc candidates also write a 12,000-15,000 word dissertation. Students are required to attend a course on research methodology in preparation for writing the dissertation.

Core courses

International Macro Economics and Policy
This is a policy-oriented course. It starts with an analysis of the conduct of monetary policy and macroeconomic policy. It then analyses how openness of the economy affects a country’s macroeconomic policy and economic performance. In particular, the course analyses the problem of attaining a position of internal and external equilibrium and considers options for the conduct of macroeconomic policy.

Money, Finance and Growth
This is a policy-oriented course. It starts with an analysis of the conduct of monetary policy and macroeconomic policy. It then analyses how openness of the economy affects a country’s macroeconomic policy and economic performance. In particular, the course analyses the problem of attaining a position of internal and external equilibrium and considers options for the conduct of macroeconomic policy.

Modern Theory of Banking and Financial Markets
The course begins with an outline of the role of a financial system and an overview of the banking system of the UK, the US, the European Union and selected less developed countries. It discusses the channels through which monetary policy may affect the real economy, and gives emphasis to the bank lending and the balance sheet channels. It goes on to analyse the importance of imperfect information between parties in credit relationships, and discusses the adverse selection, moral hazard, monitoring costs and agency cost models. The consequences of supply shocks to bank lending that are independent of loan demand, and their effects on the real economy, are then examined. The course concludes by looking at bank health and regulation of the financial system. The question of whether weakness in banks has an effect on the real economy is considered, together with the various issues of financial market regulation and the importance of bank health.

Monetary Policy and the Role of Central Banks
The course begins by considering the goals of monetary policy, in the context of developed and developing countries. Contemporary macroeconomic theory is used to determine what is achievable through monetary policy. The course then considers the instruments available to the monetary authorities to achieve these aims, and assesses the relative merits of these approaches to the implementation of monetary policy. This serves as a basis for introducing a number of case studies of central bank practice in a variety of economies. The coure concludes by looking at a range of issues in the design of optimal monetary policy institutions. For example, the course considers how to make the transition from direct monetary controls to a more market based approach. It also discusses the time-inconsistency problem and the desirability of inflation targeting and/or an independent central bank.

Optional courses

• Basic Econometrics
• Project Planning, Appraisal and Implementation
• Quantitative Methods for Planning - Forecasting
• Advanced Econometrics
• Economic Appraisal of Development Projects
• Economics of Finance
• Financial Institutions and Markets in Developing Countries
• Globalisation, Trade and Economic Development
• IMF, World Bank and Economic Growth
• International Finance and Money
• Quantitative Methods for Planning - Optimal Decision Making
• Financial Sector Stability and Growth
  

Students may also choose relevant options from other MSc Programmes subject to approval.

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Staff:
http://www.gla.ac.uk/departments/economics/ourstaff/

Entry Requirements:
Applicants for MSc programmes will be expected to have at least an upper second class honours degree, or comparable non-UK degree. Normally, this should be a degree in economics or a joint degree containing a significant amount of economics, although in the case of the programme in Development Studies, an upper second class honours degree in an area of the social sciences is acceptable, while applicants for Environment and Sustainable Development should have the equivalent of an upper second class degree in a relevant field of study. Occasionally candidates with other qualifications and/or relevant work experience may also be admitted. Well-qualified applicants who do not meet the requirements for MSc programmes may be accepted for a programme of study leading to the award of a postgraduate Diploma.

Course Duration:
MSc: 12 months (October-September) full-time, 24 months part-time.

Diploma: 9months (October-June) full-time, 2*9 months over two sessions part-time.

Language(s) of Instruction:

• English

Mode of Study:

• residential

Thematic Focus:

• Development Economics
• Development Finance
• :Other:

Country(ies):

• United Kingdom

Town(s) or City(ies):
Glasgow

Course fees:
Please see http://www.gla.ac.uk/registry/students/fees/feeindex.html for details.

Scholarships & Awards:
Please see http://www.gla.ac.uk/studying/scholarships/ for details.

Course's Webpage:
http://www.gla.ac.uk/centres/developmentstudies/postgraduatetaughtprogrammes/mscineconomicsbankingandfinance/