MA Money, Governments and Central Banks (by Research)
An online MA exploring banking, monetary policy and financial markets. Gain critical skills for careers in finance and economics.
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Course overview
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19 November 2025
Find out moreAbout the course
This research-based online MA programme gives students the knowledge and skills to think critically about practical problems faced by banks, central banks and other financial institutions – essential for anyone hoping to pursue a career in this sector. Co-ordinated by Dr Gabriel Stein and Professor Juan Castaneda, it is particularly relevant given the changes in banking, monetary policy and financial markets since the Global Financial Crisis and Covid-19.
The main focus of the programme is to prepare students for a career in banking and central banking, as well as giving them skills suitable for employment in research departments, macroeconomic consultancy and specialised media. The programme emphasises the importance of high quality monetary and banking analysis, enabling students to identify policies compatible with stable economic growth and financial stability over the long term through expert knowledge of monetary economics and monetary policy, risk management and financial institutions.
The programme includes a series of online seminars (see below), given by respected guest speakers from academia and the professional world. Their expertise in fields that include money and banking, bank regulation and monetary policy analysis will provide key background information that will complement students’ own research towards their final dissertation project.
Collaboration with the Institute of International Monetary Research provides further opportunities to engage in academic and research webinars, where students will learn from top academics and professionals with vast experience in monetary economics.
Assessment will consist of an essay, a research proposal and a master’s dissertation of not fewer than 15,000 words on a topic of the student’s choosing, which is completed under the guidance of a supervisor and submitted at the end of the academic year.
Course Highlights
- Discover the effect of monetary policy decisions on asset and CPI prices and the business cycle over the medium and long term.
- You will be able to use monetary data to anticipate changes in CPI inflation and in interest rates over the business cycle.
- Use economic and financial history to better understand the current problems affecting the economy, and in particular central banks’ policy options and commercial and investment banks’ decisions.
- You will be able to assess central banks’ main monetary strategies and analyse their policy bias.
- Learn from top academics and professionals with vast experience in monetary economics.
Course breakdown
The academic year begins in January and the Course Directors (Dr Gabriel Stein and Professor Juan Castaneda) will be available beforehand to discuss dissertation topics and independent research. A full bibliography with specialised references will be issued to all students before the seminars start.
Our seminar programme includes topics such as conventional vs unconventional monetary policies, bank regulation and new means of payment.
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Teaching and assessment
We keep class sizes small so you won’t get lost in the crowd. You will be assigned a personal tutor to support you every step of the way, and our academic and student support teams will ensure you have the tools to success in your studies. We value the quality of your learning experience.
Teaching methods
The MA programme is supported by weekly online seminars given during the first two terms of the programme. These are complemented by independent thought and research in the second part of the programme.
Throughout the programme there will be a close working relationship between student and supervisor. The supervisor’s role is to offer advice on refining the topic (if necessary), on primary sources, on secondary reading, on research techniques and on writing the final text (which should be not less than 20,000 words). The MA coordinators and the supervisor is the student’s primary contact for academic advice and support.
Assessment Methods
Assessment methods include a 2,500-word essay, a 2,000-word research proposal, and a 15,000-word MA thesis.
- Essay: A 2,500-word essay to be submitted at the end of the webinar series in late June. A list of three topics on several policy areas will be suggested, and students will choose one to focus on.
- Research proposal: A 2,000-word proposal to be submitted by 1 July. This will include the intended topic, an outline of the project, research method(s), and main references in the area.
- MA thesis: A 15,000 word research dissertation to be submitted by 15 November. This will be supervised (remotely) by two members of the teaching staff.
After your course
On exit of this programme, there is an option to join the Professional Doctorate programme in Public Policy and Political Economy at Level 4 (Year 2). Those wishing to explore alternatives can take advantage of advice from the University’s Course Directors, students’ supervisors, and the Research Officer and Tutor for Graduate Students.
Here are just some of the career opportunities and skills that can stem from studying on this course:
Career opportunities
- Central banking
- Finance, banking and wealth management
- Economic research
- Macroeconomic consultancy
- Specialised media and commentary
Career skills
- Knowledge of the effects on money changes on prices and output as well as on business cycle fluctuations.
- Understand the modelling of economic problems to make and assess central bank policy decisions.
- Effective knowledge of independent research skills required to conduct research and critical analysis in monetary economics.
- An in-depth knowledge and critical awareness of current problems affecting central banks and banks, as well as the origins and proposed policies to tackle a banking and a financial crisis.
- Ability to critically evaluate central banks’ monetary strategies and policies and their impact on monetary and financial stability.
- Proficiency in analysing complex banking statements and central banks’ balance sheets and communications.
Careers and Employability Support
Our courses strive to effectively combine academic challenge with the transferable skills that will stand you in good stead for future employment. The Buckingham tutorial teaching model means that our students are well prepared as they embark on their careers and future study.
Find out more about our Careers and Employability Service.
Further study
Further your expertise in your field of study with our doctoral degrees.
“Upon completing my postgraduate degree, I have undoubtedly obtained the necessary independent and research skills to embark on my professional journey. The extensive knowledge I have acquired through this advanced degree sets me apart from other candidates, giving me a distinct advantage.”
Eleanor, Postgraduate student
Entry requirements
See our general University entry requirements for information on flexible entry, mature students and alternative qualifications.
The standard entry requirements for this course are:
- A first or upper second-class honours degree from a recognised university or,
- Employment/former employment at a professional level with senior experience in the field of finance, economics or banking.
International Applicants
Find out about our requirements and see useful information for international applicants:
If you are uncertain whether you will be eligible to apply for this course, please contact our Admissions team.
Course fees
The fees for this course are:
| Start | Type | 1st Year | Total cost |
|---|---|---|---|
Month Year Full-time (2 Years) | UK | £00,000 | £00,000 |
| INT | £00,000 | £00,000 | |
Month Year Full-time (2 Years) | UK | £00,000 | £00,000 |
| INT | £00,000 | £00,000 |
The University reserves the right to increase course fees annually in line with inflation linked to the Retail Price Index (RPI). If the University intends to increase your course fees it will notify you via email of this as soon as reasonably practicable.
Course fees do not include additional costs such as books, equipment, writing up fees and other ancillary charges. Where applicable, these additional costs will be made clear.
Scholarships and bursaries
How to apply
Apply direct
Apply online from this page as:
- You can apply until shortly before the course starts.
- There are no application fees.
You can apply directly through our website by clicking the ‘Apply Now’ button.