Changes to the MFin programme for 2011-12

Changes to the MFin programme for 2011-12

1.     Ending Investment Management Project (IMP)

2.     Conversion of second half of Econometrics core to an elective

3.     Change in required number of electives from 8 to 7

4.     New elective in advanced corporate finance

We are making four changes to the MFin teaching programme for the next academic year. Some of these changes reflect an increase in the workload in other parts of the programme because some electives have been extended from 12 classroom hours to 18 hours. We want to manage the overall total workload and reduce the complexity of the course, while keeping as much choice as possible.

1.  Ending IMP

The IMP is to be discontinued. It delivers too few benefits in relation to the time it takes to do (and supervise) compared with other parts of the programme. We still have a substantial offering in relation to investment management, involving an elective, several City Speakers who are from the investment management industry (Schroders, three hedge funds, State Street Global Advisors and HSBC Asset Management in 2010-11) and the presence of Dr. David Chambers, who has 20 years of work experience in that industry. A number of MFin alumni now work in the asset management industry too.

2. Conversion of second half of Econometrics core to an elective

The Lent term portion of Econometrics is quite difficult for those with no prior statistical knowledge. The heterogeneity of the class makes teaching difficult and is frustrating for the more experienced students who want to go faster. The topics covered are desirable rather than essential for a general finance practitioner. So we will make the Lent section optional, in the form of a new elective. That should allow the more advanced material to be presented at a slightly faster rate for a self-selecting group of more able or experienced students. It will therefore be a better bridge to the more demanding elective International Financial Econometrics.

3. Change in required number of electives from 8 to 7

Reflecting the fact that the average elective has increased in the number of hours taught and to allow students to do the work thoroughly, the required number of electives is to be cut by one. Students may audit an additional two electives.

4. New elective in advanced corporate finance

A new lecturer in finance, Dr. Pedro Saffi, currently at IESE in Barcelona, will be teaching an elective on advanced corporate finance from 2011-12. This will be mainly case based and be a chance for those seeking a more thorough understanding of matters such as capital structure, dividend policy and valuation.

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