Overview
The MSc Finance & Investment at AFU develops quantitative and strategic skills for modern capital markets. You will build discounted cash flow models, analyse fixed income and equity portfolios, and interpret macroeconomic drivers of asset prices. Modules integrate Bloomberg-style case data with ethical frameworks for responsible investment. Graduates join banks, asset managers, fintech firms, and corporate treasury teams worldwide.
MSc Finance & Investment is taught as one award, not a list of unrelated modules. The published length is 24 months, and the credit total is 36. Students move from Financial Markets & Institutions through Financial Markets & Institutions; Corporate Finance & Valuation; Quantitative Methods for Finance; Financial Accounting Analysis; Portfolio Theory & Asset Management; Fixed Income & Derivatives, and finish on MSc Finance Capstone.
Each course has a question, a method, and a submission. In this field, students read a set of figures, build a small case, and state which assumption moves the result. Reading is financial statements, a recognition note, and a risk report. The artefact a marker expects is a recommendation that separates the decision, the numbers, and the risk.
The award is built so that a graduate can do the following in practice: Value companies using DCF, comparables, and precedent transactions Construct diversified portfolios under modern portfolio theory constraints Interpret Basel III, MiFID II, and UK FCA regulatory requirements
Teaching assumes the student can read a source, attempt a problem before the seminar, and revise after feedback. Attendance at live seminars is part of the design. The capstone or final course must use the methods of the earlier courses; a project that ignores them does not pass.
This course does not confer an accounting, audit, or financial-services licence.
The pages for each course name the topics that are examined. Those topics are the syllabus. A brochure line is not a substitute for them.
Optional CFA Institute curriculum alignment supplements core modules. Edinburgh campus finance labs host termly trading simulations.
Who This Programme Is For
- ✦Finance analysts pursuing investment banking or asset management
- ✦Accountants and auditors moving into corporate finance
- ✦Economics graduates seeking applied market credentials
Faculty spotlight
The programme lead, former investment director, leads Portfolio Management; A supervising member of faculty researches inclusive fintech in emerging markets.
Programme Structure & Delivery
Coursework
Interactive modules, weekly readings, recorded and live seminars, and collaborative discussions with peers worldwide.
Assessment
Module assignments, proctored examinations, and capstone projects designed to demonstrate mastery of the field.
Learning Outcomes
- ✦Value companies using DCF, comparables, and precedent transactions
- ✦Construct diversified portfolios under modern portfolio theory constraints
- ✦Interpret Basel III, MiFID II, and UK FCA regulatory requirements
- ✦Model derivatives and hedging strategies for corporate risk
- ✦Present investment committee memos with clear risk disclosure
Career Pathways
- ✦Investment Analyst
- ✦Portfolio Manager
- ✦Corporate Treasurer
- ✦Risk Manager
- ✦Fintech Product Strategist
Assessment
Modules are assessed through a published mix of coursework, applied projects, and examinations. Exam windows are announced in advance so students in other time zones are not forced into overnight sittings. Alternative arrangements are available where documented.
Curriculum
Year 1 — Core Finance
FIN501Financial Markets & Institutions- FIN501-M1 · Statements: income, position, and cash — Financial Markets & Institutions
- FIN501-M2 · Recognition, ratios, and what the numbers cannot show — Financial Markets & Institutions
- FIN501-M3 · Cash flows, discount rates, and sensitivity — Financial Markets & Institutions
- FIN501-M4 · Market, credit, and operating risk — Financial Markets & Institutions
- FIN501-M5 · Controls, exceptions, and reporting — Financial Markets & Institutions
- FIN501-M6 · An investment or operating recommendation — Financial Markets & Institutions
3 creditsFIN502Corporate Finance & Valuation- FIN502-M1 · Statements: income, position, and cash — Corporate Finance & Valuation
- FIN502-M2 · Recognition, ratios, and what the numbers cannot show — Corporate Finance & Valuation
- FIN502-M3 · Cash flows, discount rates, and sensitivity — Corporate Finance & Valuation
- FIN502-M4 · Market, credit, and operating risk — Corporate Finance & Valuation
- FIN502-M5 · Controls, exceptions, and reporting — Corporate Finance & Valuation
- FIN502-M6 · An investment or operating recommendation — Corporate Finance & Valuation
3 creditsFIN503Quantitative Methods for Finance- FIN503-M1 · Statements: income, position, and cash — Quantitative Methods for Finance
- FIN503-M2 · Recognition, ratios, and what the numbers cannot show — Quantitative Methods for Finance
- FIN503-M3 · Cash flows, discount rates, and sensitivity — Quantitative Methods for Finance
- FIN503-M4 · Market, credit, and operating risk — Quantitative Methods for Finance
- FIN503-M5 · Controls, exceptions, and reporting — Quantitative Methods for Finance
- FIN503-M6 · An investment or operating recommendation — Quantitative Methods for Finance
3 creditsFIN504Financial Accounting Analysis- FIN504-M1 · Statements: income, position, and cash — Financial Accounting Analysis
- FIN504-M2 · Recognition, ratios, and what the numbers cannot show — Financial Accounting Analysis
- FIN504-M3 · Cash flows, discount rates, and sensitivity — Financial Accounting Analysis
- FIN504-M4 · Market, credit, and operating risk — Financial Accounting Analysis
- FIN504-M5 · Controls, exceptions, and reporting — Financial Accounting Analysis
- FIN504-M6 · An investment or operating recommendation — Financial Accounting Analysis
3 creditsYear 1 — Markets
FIN505Portfolio Theory & Asset Management- FIN505-M1 · Statements: income, position, and cash — Portfolio Theory & Asset Management
- FIN505-M2 · Recognition, ratios, and what the numbers cannot show — Portfolio Theory & Asset Management
- FIN505-M3 · Cash flows, discount rates, and sensitivity — Portfolio Theory & Asset Management
- FIN505-M4 · Market, credit, and operating risk — Portfolio Theory & Asset Management
- FIN505-M5 · Controls, exceptions, and reporting — Portfolio Theory & Asset Management
- FIN505-M6 · An investment or operating recommendation — Portfolio Theory & Asset Management
3 creditsFIN506Fixed Income & Derivatives- FIN506-M1 · Statements: income, position, and cash — Fixed Income & Derivatives
- FIN506-M2 · Recognition, ratios, and what the numbers cannot show — Fixed Income & Derivatives
- FIN506-M3 · Cash flows, discount rates, and sensitivity — Fixed Income & Derivatives
- FIN506-M4 · Market, credit, and operating risk — Fixed Income & Derivatives
- FIN506-M5 · Controls, exceptions, and reporting — Fixed Income & Derivatives
- FIN506-M6 · An investment or operating recommendation — Fixed Income & Derivatives
3 creditsFIN507Financial Econometrics- FIN507-M1 · Statements: income, position, and cash — Financial Econometrics
- FIN507-M2 · Recognition, ratios, and what the numbers cannot show — Financial Econometrics
- FIN507-M3 · Cash flows, discount rates, and sensitivity — Financial Econometrics
- FIN507-M4 · Market, credit, and operating risk — Financial Econometrics
- FIN507-M5 · Controls, exceptions, and reporting — Financial Econometrics
- FIN507-M6 · An investment or operating recommendation — Financial Econometrics
3 creditsFIN508Ethics & Regulation in Finance- FIN508-M1 · Statements: income, position, and cash — Ethics & Regulation in Finance
- FIN508-M2 · Recognition, ratios, and what the numbers cannot show — Ethics & Regulation in Finance
- FIN508-M3 · Cash flows, discount rates, and sensitivity — Ethics & Regulation in Finance
- FIN508-M4 · Market, credit, and operating risk — Ethics & Regulation in Finance
- FIN508-M5 · Controls, exceptions, and reporting — Ethics & Regulation in Finance
- FIN508-M6 · An investment or operating recommendation — Ethics & Regulation in Finance
3 creditsYear 2 — Applied
FIN601Mergers, Acquisitions & Restructuring- FIN601-M1 · Statements: income, position, and cash — Mergers, Acquisitions & Restructuring
- FIN601-M2 · Recognition, ratios, and what the numbers cannot show — Mergers, Acquisitions & Restructuring
- FIN601-M3 · Cash flows, discount rates, and sensitivity — Mergers, Acquisitions & Restructuring
- FIN601-M4 · Market, credit, and operating risk — Mergers, Acquisitions & Restructuring
- FIN601-M5 · Controls, exceptions, and reporting — Mergers, Acquisitions & Restructuring
- FIN601-M6 · An investment or operating recommendation — Mergers, Acquisitions & Restructuring
3 creditsFIN602Alternative Investments- FIN602-M1 · Statements: income, position, and cash — Alternative Investments
- FIN602-M2 · Recognition, ratios, and what the numbers cannot show — Alternative Investments
- FIN602-M3 · Cash flows, discount rates, and sensitivity — Alternative Investments
- FIN602-M4 · Market, credit, and operating risk — Alternative Investments
- FIN602-M5 · Controls, exceptions, and reporting — Alternative Investments
- FIN602-M6 · An investment or operating recommendation — Alternative Investments
3 creditsFIN603MSc Finance Capstone- FIN603-M1 · Statements: income, position, and cash — MSc Finance Capstone
- FIN603-M2 · Recognition, ratios, and what the numbers cannot show — MSc Finance Capstone
- FIN603-M3 · Cash flows, discount rates, and sensitivity — MSc Finance Capstone
- FIN603-M4 · Market, credit, and operating risk — MSc Finance Capstone
- FIN603-M5 · Controls, exceptions, and reporting — MSc Finance Capstone
- FIN603-M6 · An investment or operating recommendation — MSc Finance Capstone
6 creditsAdmission requirements
Academic entry
- Bachelor's degree from an accredited institution (minimum 2:2 or GPA 2.5/4.0)
English language
- English proficiency: IELTS 5.5, TOEFL 46, or equivalent (waived for prior English-medium study)
Documents
- Statement of Purpose (500 words minimum) outlining your goals and fit for the programme
- Two academic or professional references with contact details
- CV or résumé documenting relevant education and professional experience
Programme questions
How long is the MSc Finance & Investment?+
The published duration is 24 months. Teaching language: English. Actual time-to-complete depends on mode and any recognised prior learning.
Can I study this from my country?+
This is a fully online award. You study from your country. No student visa and no campus relocation are required.
What does it cost?+
Degree tuition for this award is published as £0 / tuition-free on the online pathway. Examination or administrative fees may apply at checkout — never an annual tuition invoice. Check the Fees page for any extras.
What are the entry requirements?+
Requirements are grouped on this page (academic, English, documents). Equivalent qualifications are considered. English may be waived after prior English-medium study.
How is the programme assessed?+
Assessment is typically a mix of coursework, projects, and examinations. Doctoral awards include a thesis or dissertation and an oral examination. Details sit in the programme specification and module outlines.
Will this award be recognised where I live?+
Recognition of the award for local employment, professional licence, or ministry attestation is decided by your employer or regulator. Durham University publishes verification pages for certificates. We do not claim automatic equivalence in every country.
How do I apply?+
Start an application on this website. Progress is saved from the first step. Admissions: admissions@durhm.co.uk.
