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

The MSc degree and postgraduate Diploma in International Banking and Finance are organised within the Centre for Development Studies and incorporate contributions from the Departments of Accounting and Finance, Business and Management and Law. The purpose of the MSc in International Banking is to familiarise students with the operation of financial markets and international and domestic financial institutions. The programme is designed for those wishing to enter, or who are already in, professions which require the background, knowledge and skills needed to work in an international financial environment.
 
The Diploma in International Banking and Finance places less emphasis on research training than does the MSc programme, but will, nonetheless, provide a thorough grounding in the policy issues and techniques of analysis in this area, and will be appropriate for a range of career options in banking and international finance.

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 Corporate Finance
This course reviews the basic concepts of finance and prepares students for International Financial Management. Accordingly, the strategic ideas in finance and financial management are emphasised.

Strategic Management and Marketing
This course concentrates on the main approaches to strategic thinking and analysis, distinguishing particularly between deliberate and emergent strategies, and on enhancing ability to apply these approaches to the individual's own organisation, taking into account the global business context. The course gives an understanding of the importance of stakeholder analysis in defining the purpose of an organisation and gaining support for the organisational strategy. It deals with decision making processes in marketing management and strategy formation. The course aims to develop a capability of formulating a business and marketing strategy and an ability to analyse causes of success and failure in strategic planning, for example in creating corporate image and reputation. Sensitivity to the social and political dimensions as well as the content of strategic management is considered. The course fosters the ability to develop marketing mix strategies and programmes.

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 course 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

Department of Accounting and Finance options

• International Banking and Financial Markets
• International Capital Markets
• International Financial Management

Centre for Development Studies options

• Basic Econometrics
• International Macro Economics and Policy
• International Trade
• 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
• International Finance and Money
• IMF, World Bank and Economic Growth
• Quantitative Methods for Planning - Optimal Decision Making
• Financial Sector Stability and Growth

Department of Law options

• International Economic Law
• Commercial Banking

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 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/mscininternationalbankingandfinance/