The course

Full-time, Part-time, Per course
Course type
Entry date



The connections between finance and development are crucial to the growth prospects of developing and emerging economies. They are also the focus of some of the most interesting intellectual developments of recent decades.

Our new MSc International Finance and Economic Development provides students with a solid understanding of the key economic and financial issues involved in economic development, including:

  • ‘macro’ issues in economic development such as rural development and urbanisation, industrialisation, the informal sector, the international context of development and policies for trade and growth, and the role of foreign aid;
  • 'micro' issues in development such as credit markets, insurance, health care, gender issues and education;
  • finance and development, with particular reference to emerging economies;
  • the international monetary and financial system and how this impinges on developing and emerging economies.

Programme duration

  • Full-time: 12 months (MSc), 9 months (PG Diploma)
  • Part-time: 24 months (MSc), 21 months (PG Diploma)


  • Semester 1: September - December
  • Semester 2: January - May
  • MSc Dissertation: May - August

Course content

Semester 1 (Sept - Dec) Semester 2 (Jan - April)
International Finance Emerging Financial Markets
  Development Economics

Choose three from:

  • Capital Markets
  • Corporate Finance
  • Corporate Governance
  • Financial Analysis

Choose two from:

  • Derivatives
  • Research in Finance
  • Research Methods

The MSc dissertation is undertaken between May and August.

International Finance

Semester 1 (mandatory)

Traditional and modern theories of exchange rate determination are reviewed. The role of price, money and interest rate fundamentals for real and/or nominal exchange rates are examined along with the role of risk in the foreign exchange market. Monetary unions are examined and analysis of the foreign exchange market microstructure undertaken. The problem of financial crises, why they are transmitted across countries and the policy implications of the crisis are also looked at.

Emerging Financial Markets

Semester 2 (mandatory)

Supplements understanding of mainstream finance during the year, and applies it to the specific circumstances of emerging financial markets. This exposure is also designed to assist you with identifying possible dissertation topics and data sources.

Development Economics 

Semester 2 (mandatory)

Looks at specific economic problems faced by developing countries including population growth and gender gap; credit markets (rural and urban), informal credit markets; insurance markets, limits to insurance and risks; foreign aid and its effectiveness; health care; issues in education; and child labour.

Entry requirements

A good Honours degree (first or second class) or its non-UK equivalent in a relevant subject from a recognised British or overseas university.

English language requirements

If your first language is not English, or your first degree was not taught in English, we’ll need to see evidence of your English language ability.

The minimum English language requirement for entry to this programme is IELTS 6.5 (or equivalent) with no component lower than 6.0.

If you do not have IELTS 6.5, we offer a range of English language courses to help you meet the English language requirement for this programme prior to commencing your studies:

  • 14 weeks English (for IELTS of 5.5 with minimum of 5.0 in all skills)
  • 10 weeks English (for IELTS of 5.5 with minimum of 5.5 in reading & writing and minimum of 5.0 in speaking & listening)
  • 6 weeks English (for IELTS of 5.5 with minimum 5.5 in all skills)


Tuition fees for entry
Status Full-time Part-time Per course
UK £7552 £3776 £944
Overseas £16728 £8364 £2091


  1. If you are unsure which residency status category you fall in to, you should complete a fee status enquiry form, which allows us to assess your fees.
  2. Fee per course (module). Refer to the Course Content to see how many courses comprise the full programme.
  3. Overseas includes applications from European Union countries who do not hold Pre-Settled or Settled status in the UK. Read more about the application process for EU nationals.

Scholarships and bursaries

We aim to encourage well-qualified, ambitious students to study with us and we offer a wide variety of scholarships and bursaries to achieve this. Over £6 million worth of opportunities are available in fee and stipend scholarships, and more than 400 students benefit from this support.

View our full range of postgraduate scholarships.