MSc Money, Banking and Central Banking
Unlike any other programme in the UK, ours emphasises the importance of high quality monetary and banking analysis.
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Course overview
About the course
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The MSc programme in Money, Banking and Central Banking focuses on the changes in the banking and financial markets during and since the Global Financial Crisis, as well as the changes made by major central banks in the running of their monetary policies since then. The programme will pay particular attention to the assessment of the policy responses given by world leading central banks to the Covid-19 crisis and their effects on prices and output over the medium and long term. This perspective will be key to understand and assess the inflationary effects of Covid-19 crisis.
Banks and central banks play a pivotal role in the sound functioning of modern monetary economies. The 2008-09 Global Financial Crisis was a powerful reminder of how important it is to understand their functioning and operations, and the relationship between the quantity of money and the overall economy. Starting in 2022, we have added a new module to study the roles and functions of central banks particularly in times of crisis, taught by two leading monetary experts, Professors Forrest Capie and Geoffrey Wood.
Unlike any other programme in the UK, ours emphasises the importance of high quality monetary and banking analysis, allowing our students to assess which policies are compatible with stable economic growth and long term financial stability.
Our students will leave with expert knowledge of monetary economics, monetary policy, risk assessment and how financial institutions operate. They will be equipped with the specialised knowledge and skills required for a career in central banking, as well as monetary analysis suitable to pursue a career in consultancy businesses, research departments and specialised media.
View the Money, Banking and Central Banking Brochure.
Course Structure
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.
- Central Banks in Times of Crisis (15 credits) – This course shows how central banks developed as they dealt with crises, and evolved techniques to deal with such events.
- 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.
What our students say about the course
“I joined the programme in the middle of a pandemic and to be given the freedom and support to explore contrarian theories is an experience I will always treasure.
The programme allows for a robust understanding of central banks, macroeconomics and financial analysis. Something unique to Buckingham is its small class sizes and open debates throughout the course, giving you unfettered access to highly responsive lecturers who are always happy to help you further your intellectual curiosity for any tangents of economic thought one may want to explore further.
Highlights of my studies included creating inflation forecasts, understanding how broad money aggregates can impact inflation and the regular webinars chaired by the IIMR with industry leaders and top academics.
This course is a must for students interested in pursuing future financial services and macroeconomics careers, allowing you to understand the deeper meaning behind current economic events.”
Max Georgiou (2021)
“Joining the MSc in Money, Banking and Central Banking was one of the best decisions I have ever made. This program provides unique insights about economics and monetary theory, which helped me to both widen my knowledge of the economy and develop my critical thinking ability.
At Buckingham you have lectures in small groups, meaning I regularly engaged with my fellow students and with the lecturers by sharing comments, offering opinions and creating discussions. On top of the high quality teaching, everyone in the faculty offered extreme professionalism, and the constant care that the administration staff puts in to every single aspect of the program was always apparent.
By the end of the degree I truly felt like I had reached a new, higher level in my personal skills, knowledge and awareness in the economic field. I really do believe that the MSc in Money, Banking and Central Banking is a gem within the European university landscape.”
Gianluigi Narciso (2019/20)
Find out more
If you would like to find out more about the course and / or discuss your eligibility, please complete our contact form and we’ll contact you as soon as we can.
Entry requirements
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
Mature students
Age is no barrier to learning and we welcome all applications from suitably qualified students.
International students
We are happy to consider all international applications and if you are an international student, you may find it useful to visit our international pages for details of entry requirements from your home country.
The University is a UKVI Student Sponsor.
English levels
If English is not your first language, please check our postgraduate English language requirements.
Selection process
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.
Initial enquiries and face-to-face appointments are also welcomed by the Director of the degree, Dr Juan Castañeda juan.castaneda@buckingham.ac.uk
Teaching and Assessment
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 Vinson Centre.
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.
Professor Ali Kabiri is a Professor of Economics and the Head of Department of Economics and International Studies at The University of Buckingham.
He is also a research associate of the Financial Markets Group at the LSE and an Honorary Lecturer at UCL, London, at the CSDU – Centre for the Study of Decision-Making Uncertainty.
Damian Pudner is Director of the Institute of International Monetary Research (IIMR).
Prior to this, he enjoyed a successful career spanning 25 years in the City of London, holding several senior roles at leading investment banks and financial institutions.
Amongst other members of the staff, students will benefit from having Professors Geoffrey Wood, Forrest Capie and Tim Congdon as members of the teaching team, all 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.
Assessment methods
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.
After Your Course
Graduate employment
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
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
We have bursaries and scholarships available for both home and international students at undergraduate and postgraduate level, and these are awarded based on location, merit or financial need.
Funded scholarships and bursaries may be awarded across all schools of study, and represent a partial remission from tuition fees. Bursaries are means-tested and are intended for those who need a contribution towards their fees in order to study at Buckingham.
Students applying for this course may be eligible for the following:
View all scholarships and bursaries.
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.