Central Banking 1 (History, Strategies and Operations)
Empirical Techniques and Research Methods in Macroeconomics
The Central Bank, The Banking System and The Macroeconomy
Sep 2023 (Part-time)
The MSc programme in Money, Banking and Central Banking – and the new pathway to Money, Banking and Wealth Management – is designed to offer specialised teaching to UK and overseas students.
The subject is particularly relevant given all the changes introduced in banking and financial markets during the last global financial crisis as well as the changes made by major central banks in the running of their monetary policies since then.
The programme pays particular attention to the changes introduced by major central banks since March 2020, with the outbreak of Covid-19 crisis, as well as to the launch of new digital currencies by central banks and the private sector. This all emphasises again the importance of high quality monetary and banking analysis so we can assess those policies compatible with stable economic growth and financial stability over the long term.
Expert knowledge of monetary economics and monetary policy, risk management and financial institutions is going to be of crucial importance and this programme aims to produce graduates with this specialised knowledge and the skills required for a career in central banking and finance, in particular in investment banking, wealth management as well as monetary analysis suitable to pursue a career in research departments and specialised media.
We offer two entry points, one in September and one in January, as well as a part-time programme, ideal for those seeking a flexible way to further their education and careers in money and banking.
The majority of the programme consists of the following modules:
Financial Analysis and Asset Management (15 credits) – Asset management techniques will be thoroughly analysed, and particular emphasis will be placed upon modern portfolio management theory.
Central Banking (1): History, Strategies and Operations (15 credits) – Learning the theoretical and analytical tools required to understand central bank roles and policy strategies.
Money, New Means of Payments and Investment Strategy (15 credits) – The module will address new financial and digital technology and their impact on monetary policy and regulatory issues. It will also focus on how to use monetary analysis and investment strategy in a modern economy.
Central Banking (2): Monetary Policy and Financial Stability (15 credits) – Identifying how monetary policy is designed and implemented by leading central banks.
The Central Bank, The Banking System and the Macroeconomy (15 credits) – Analysing how money is created and how changes in the amount of money affect prices and output along the business cycle.
Banking Risk Management (15 credits) – Learning about bank risk assessment and changes in bank regulation.
Empirical Techniques and Research Methods (30 credits) – Becoming proficient in statistical techniques using specialised software to gather and analyse macroeconomic and financial data.
MSc Dissertation (60 credits) – At the end of the programme students will submit a master’s dissertation with comprehensive research work on one of the topics addressed in the programme.
Professional accreditation in risk management
Students will have the option to study for an accreditation in financial risk management with the Professional Risk Managers’ International Association (PRMIA), ideal for those interested in entering the risk management industry.
The programme covers fundamental concepts of the risk management profession and has become a well-known benchmark in this market both in the UK and in the rest of the world.
The teaching staff of our master’s programme will offer extra academic support to the students who opt to take the exam. The cost of the PRM certificate course is covered, however the exam fee needs to be covered by those taking the exam.
This certificate will put students seeking a career in the financial and banking services industries at a considerable advantage.
The Institute of International Monetary Research
Established in 2014, in the aftermath of the Great Financial Crisis of 2007-2009, the Institute of International Monetary Research (IIMR) is an educational charity that aims to bring to public attention the strong relationship between the quantity of money on the one hand, and inflation and the levels of national income and expenditure on the other.
The Institute is heavily involved in the teaching of the programme. It offers its facilities to students to help them engage in a professional environment where they can focus on analysis into trends in money and banking. The Institute also produces research in the form of edited volumes and research papers that will inform students about the key debates in academia and financial markets.
In addition, the Institute of International Monetary Research organises research seminars in Buckingham and an annual monetary conference in the UK. At these events, students have the opportunity to learn from top academics, regulators and practitioners of monetary economics, both from the UK and overseas.
The minimum entry level required for this course is as follows:
a first or a good second class honours degree from a recognised university, or
a recognised professional qualification with relevant work experience
Age is no barrier to learning and we welcome all applications from suitably qualified students.
Wherever possible, you will be invited to the University to meet the Admissions Tutor for an informal interview and to have a tour of our campus. If you are an international applicant, it may not be possible for you to visit in person, so if the Admissions Tutor has any queries about your application you may be conducted by skype, email or phone.
When you are offered a place at the University you will be notified of the student contract between the University and students on our courses of study. When you accept an offer of a place on the course at the University a legal contract is formed between you and the University on the basis of the student contract in your offer letter. Your offer letter and the student contract contain important information which you should read carefully before accepting an offer. Read the Student Contract.
Professors and lecturers
The Money, Banking and Central Banking programme is taught by leading monetary and banking academics and market practitioners.
Professor Tim Congdon is one of the world’s leading monetary analysts and the UK’s leading exponent of the ‘monetarist’ school of thought. He founded the research consultancy, Lombard Street Research in 1989, and the Institute of International Monetary Research in 2014.
Dr Juan Castañeda is a Senior Lecturer in Economics at The University of Buckingham and Director of the Institute of International Monetary Research. He has worked with the European Parliament’s Economic and Monetary Affairs Committee and submitted written evidence for a UK Parliament report on the euro.
Brandon Davies has 32 years experience working at Barclays Bank. Once he retired from Barclays Bank he set up, for GARP, the bank training programmes for Indonesia and China, both sponsored by their respective central banks.
Professor Geoffrey Wood is a Professor of Monetary Economics at University of Buckingham. He spent many years as a part-time special adviser at the Bank of England, and has been on the staff of the Federal Reserve Bank of St. Louis.
Dr Ali Kabiri is a Senior Lecturer in Economics and the Head of Department of Economics and International Studies at The University of Buckingham, as well as a research fellow of the Financial Markets Group (LSE).
Amongst other members of the staff, students will benefit from having Professors Geoffrey Wood and Tim Congdon as members of the teaching team, both with a recognised career in this field and with experience in providing consultancy and expert advice at the highest governmental policy level in the UK.
In addition, students will benefit from guest lectures by international experts in the field.
The assessment of individual modules within each course varies according to the subject. Assessment is usually by examination, assessed coursework, or a combination of the two. At the end of the programme, students will submit a master’s dissertation with comprehensive research work on one of the topics addressed in the programme.
Our graduates have gone on to further study at most of the world’s leading universities, including Harvard, London (UCL and LSE and Imperial College), Oxford and Cambridge and secured jobs in senior positions around the world. Students will be able to benefit from career opportunities in various financial institutions, consultancy businesses and research institutes, including the Institute of International Monetary Research that will be offering several internships to our graduates.
“When studying Money, Banking and Central Banking at The University of Buckingham, students receive constant guidance and support. Proof of that is the continued support I have received after graduating to obtain my certificate as an Associate Professional Risk Manager” – David Orozco
Obtain a second degree in Germany
If you arrange to transfer to our partner university in Germany, you will receive a second Master’s degree after a further year of study. See here for details
A first-class scholarship is available to both home and international students studying a taught postgraduate degree at the University. The scholarship will reduce tuition fees by 33%. The scholarship will be automatically awarded to applicants who already have a first-class honours degree that is recognised to UK standard.
Other scholarship opportunities
Details of other scholarships can be found on our main Bursaries and Scholarships page. You should make an application to study at the University and receive an offer letter confirming our acceptance of your application before applying for a scholarship.
We guarantee on-campus accommodation to all new students for their first four terms of study, as long as it is booked and paid for in good time, so you’re assured of a safe and secure home from home when you arrive at the University. Most new students choose this option.
Living on campus enables you to become involved in University activities, make friends, and integrate with the University community. For some of you this will be your first time in the UK; for others it will be the first time living away from home – and independence brings its challenges as well as its excitements. Whatever your circumstances, we know how important it is for you to feel comfortable in your accommodation.
All our study bedrooms are fully furnished, centrally heated, and connected to the internet. With few exceptions they have a wash basin and small refrigerator. We have a large number of ensuite rooms, and are upgrading more rooms each year. There are shared kitchens for when you wish to cook for yourself.