Ranking
Triple
Crown Accredited
Talk to our students
Hear more about studying at Birmingham. Chat to one of our friendly postgraduate students to get their thoughts on our courses, stunning campus and life in a vibrant and cultural city.
Course overview
The MSc Financial Economics at Birmingham Business School, University of Birmingham, is a master's degree that teaches finance from its foundations in microeconomic theory.
Where a general finance master's concentrates on financial products and practice, this course concentrates on the economic theory that explains them:
- how investors make decisions under risk and uncertainty
- how assets are priced
- and why banks exist and how they are regulated
This prepares you for analytical roles in asset management, banking, financial technology and global financial institutions, and for doctoral research in economics or finance.
Your core modules apply one framework to two sides of the financial system.
On the markets side, you study asset pricing, market equilibrium and portfolio decisions, and learn the mathematical techniques used to model risk. On the institutions side, you examine the role of banks in the economy, including liquidity creation, moral hazard, adverse selection and systemic risk, and you evaluate the trade-offs in regulation and policy reform. Training in financial econometrics teaches you to test these theories against market data.
You then shape the degree through two optional modules, choosing from:
Meet our graduates
The course content is presented in a straightforward manner, making complex concepts easy to understand. This simplicity, combined with the great people, not only enhances my academic experience but also makes it a joy to be part of this learning journey.
Join our mailing list
Sign up to our mailing list to stay up to date with our latest events, scholarships and subject news.
Why study Financial Economics at Birmingham?
The MSc Financial Economics is taught by the Department of Economics at Birmingham Business School, where economics has been studied since 1903. Ranked 6th in the UK for Economics (Guardian University Guide 2027), Birmingham's Department of Economics research covers the same ground as your modules:
- Banking and financial regulation: researchers study how banks behave, how they are regulated and how risk spreads through the financial system, the subject of your core module on financial intermediation.
- Financial econometrics: the department works on the statistical methods used to test financial theory against data, which you learn to apply yourself.
- Behavioural and experimental economics: the Birmingham Experimental Economics Laboratory studies how people make individual and strategic decisions, the field behind the optional module in behavioural economics and finance.
Birmingham's economists research banking, regulation and financial markets in a city where those institutions operate at scale.
- A financial centre outside London: Birmingham is the UK's second-largest city for employment in financial, professional and business services (TheCityUK). HSBC UK has its head office here, and Deutsche Bank and Goldman Sachs both have offices in the city.
Triple-crown Accreditation
Birmingham Business School is one of a few schools worldwide to hold triple-crown accreditation from the Association to Advance Collegiate Schools of Business (AACSB), the Association of MBAs (AMBA) and the European Quality Improvement System (EQUIS).
- Top 2
UK university targeted by leading graduate employers
- 68th
QS World University Rankings 2027
- 99th
THE World University Rankings by Subject 2026 for Business and Economics
Course delivery
Our MSc Financial Economics includes a wide variety of learning and teaching.
- Taught modules – these include lectures, workshops and seminars
- Assessments - these will include exams, group and individual projects and presentations, reports, essays, videos, digital artefacts, and case studies
- Dissertation project - this provides students with the opportunity to develop and apply advanced research skills to a chosen area related to financial economics
Module information
The course comprises of 180 credits, taught through a series of 20 credit modules and a 60 credit Dissertation. Students will study four core modules and choose two optional modules.
The modules listed below are an indication only and may be subject to change. Occasionally, it may be necessary to make changes to modules, for example, to ensure they remain current and relevant.
As a research-intensive University, our teaching is informed by the latest academic thinking and expertise of our staff. For more information on the circumstances in which the University may need to make changes to modules, please refer to the Terms and Conditions for applicants.
2027/28 session
The following must be taken:
| Module Title | Credits |
|---|---|
| Economics of Financial Intermediation | 20 |
| Financial Econometrics | 20 |
| Microfoundations of Finance | 20 |
| Advanced Asset Pricing | 20 |
| MSc Financial Economics Dissertation | 60 |
Choose two of the following optional modules:
| Module Title | Credits |
|---|---|
| Advanced Quantitative Methods | 20 |
| Behavioural Economics and Finance | 20 |
| Economics of Corporate Finance | 20 |
Teaching staff
Programme Director
Frank Strobel
Programme Director, MSc Financial Economics
Dr Strobel's research interests and activities fall primarily in the areas of banking and financial economics.
Entry requirements
To gain a place at Birmingham you will need to meet our general entry requirements, as well as those specific to your course. Your application will be reviewed by the course’s Admissions Tutor, who will decide whether your application should receive an offer.
- 2:1 Honours degree
or postgraduate diploma from a UK university (or overseas equivalent) in a highly quantitative subject (such as Economics, Finance, Engineering, Mathematics, Statistics or Science). Applicants who demonstrate being able to exceed the minimum entry requirements will be given preference.
International entry requirements
English language requirements
If you are an international student, you will need to demonstrate you have a suitable level of English proficiency, usually through the form of an IELTS or equivalent qualification or a Presessional English course.
For this course we require IELTS 6.5 with no less than 6.0 in any band, which is equivalent to:
- TOEFL iBT taken before January 2026: 88 overall with no less than 21 in Reading, 20 Listening, 22 Speaking and 21 in Writing
- TOEFL iBT taken from January 2026: 4.5 Overall with no less than 4.5 in any 2 skills and 4 in the other two skills
- Pearson Test of English (PTE): Academic 67 with no less than 64 in all four skills
- Cambridge English: C1 Advanced - minimum overall score of 176, with no less than 169 in any component
- LanguageCert ESOL SELT (UKVI): B2 'Communicator' with no less than 33 in each skill
English presessional programmes
If you have a conditional offer for Birmingham where English is a requirement, you can take a Presessional English course as an alternative to retaking IELTS or a similar qualification. We offer on-campus courses all year round starting from September including additional online courses in the summer term. Teaching takes place in small classes with no more than 18 students to maximise class participation.
Fees and scholarships
The University tuition fee covers the cost of your tuition, supervision, assessment and includes membership to the Guild of Students.
- £16,920
Full-time
We charge an annual tuition fee. Fees for 2027 entry are above.
The fees quoted are for one year only. For those studying courses that are longer than one year, tuition fees will also be payable in subsequent years of your programme.
Paying your tuition fees
Tuition fees can either be paid in full or by instalments. You can check whether you are eligible for UK or international fees with our admissions team.
Learn more about postgraduate tuition fees and funding.
Tuition fee deposits for international students
International students undertaking a postgraduate taught degree are required to pay a tuition fee deposit before an electronic Confirmation of Acceptance for Studies (CAS) can be issued.
Postgraduate Masters loan
To help with the cost of studies, this loan is available to all UK students. You can use this loan towards fees, maintenance or other costs at your own discretion. It’s available for all full-time, part-time and distance learning Masters programmes, as long as you don’t already have a Masters qualification (or equivalent). If you’re a student from Wales, Scotland or Northern Ireland, you can apply for Masters loans from your country’s government.
Scholarships
To help you afford your studies, we offer a range of scholarships and funding opportunities. We also offer advice and guidance on searching for funding and managing your finances.
Application process
To apply for a postgraduate programme, you will need to submit your application and supporting documents online.
- 27 August 2027
Application deadline for UK and non visa requiring applicants. We will close applications as soon as the programme is full. Early applications are encouraged.
How to apply to our taught courses
Find out how to apply to our postgraduate taught programmes. Please read this information carefully before completing your application.
Frequently Asked Questions
If you have a question about our admissions process, including how to apply, your offer and how to track your application, please visit our admissions portal.
Ask us a question
If you have a question about our admissions process, including how to apply, your offer and how to track your application, please speak to our team.
Career opportunities
The programme is designed to enhance your employability by building your knowledge and skills in key areas of financial economics, such as developing expertise in economics, econometrics, and financial data analysis
Your careers toolkit
Gain skills, confidence and experiences ready for the world of work with your dedicated careers toolkit. With Careers Network, your dedicated careers service, and the variety of opportunities available at Birmingham, you can build your own toolkit of skills and experiences to get you ready for an ever-changing world after graduation.
Your careers toolkit connects you with the opportunities, support and experiences across the university, including:
- Careers support services and Careers Network
- Work experience and placements
- Enterprise and entrepreneurship
- Alumni and employer connections
- Global opportunities and life experience
- Careers in the curriculum
We are consistently one of the top universities targeted by graduate employers
We are one of the most consistently targeted UK universities by top graduate employers (High Fliers report, The Graduate Market 2026). Read more about the achievements of our alumni and the way their university experience shaped their journey.
Upcoming events
There are currently no upcoming events
Student experience
At Birmingham, your university experience isn’t just about studying. You will have the opportunity to discover new experiences, develop different skills and make friends for life.
Our bustling campus with its beautiful grounds, friendly community and excellent facilities will quickly make you feel at home. We offer you a huge variety of accommodation options in the UK’s second city, exciting activities to get involved in outside your studies, as well as all the support and advice you need.
Accommodation
Coming to Birmingham to study might be your first time living away from home. Our student accommodation will allow you to enjoy your independence in safe, welcoming and sociable surroundings.
Birmingham: a city built for students
As one of the original pioneering cities, Birmingham is a melting pot for shopping, food and drink, nightlife, sport, culture, and industry. It’s no wonder our students fall in love with the city.
Student support
Whoever you are and wherever you come from, we are committed to providing the best possible support to all of our students so that you can get the most out of your university experience.
Campus life
Our green and spacious campus is the place where our community comes together to learn, relax and socialise. Like a town of its own, just minutes from the hustle and bustle of the UK’s second city.
Take a virtual tour
Explore our beautiful campus from wherever you are. Get a feel for the wide range of historic and modern spaces and state-of-the-art facilities.
Student stories
Find new perspectives. Hear first-hand about life at Birmingham from our students, past and present.