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At the Centre for Banking and Financial Studies,
we offer a range of internationally recognised undergraduate
and postgraduate degree programmes in the areas of banking
and finance. The Centre has long been recognised as one of
the major European University schools of banking and financial
studies, and is internationally recognised for its research
and degree programmes in these areas. The MA in Banking &
Finance is designed for candidates with relevant degrees who
wish to develop their expertise so as to further their academic
and professional careers.
The MA in Banking & Finance was launched
in 1973 and is one of the longest established banking and
financial studies postgraduate programmes provided by any
traditional UK university. For the past 30 years students
have come from many parts of the world to study on this programme.
Our postgraduates experience a mix of both theoretical
and practical studies covering contemporary developments in
the banking and financial field. Our Centre is a convivial,
supportive and challenging academic environment, and our students
find that living in Bangor and studying in the Centre is both
rewarding and enjoyable.
The Centre for Banking and Financial Studies
has a lively group of staff, who are always willing to share
their knowledge and expertise. Teaching staff at Bangor are
active researchers, combining high levels of expertise with
a desire to extend their subject area, and, most importantly
from a postgraduate viewpoint, an enthusiasm to encourage
others to develop their academic skills and join in the debate.
Above all, we encourage every student to recognise that as
a member of this Centre, you are much more than a passive
'consumer' of postgraduate university education. Instead,
you are encouraged to develop your powers of argument and
analysis, and you will be supported in this process at all
times.
We are delighted that you are considering joining
the MA/Diploma Programme in Banking & Finance in Bangor.
If you decide to join us, we are confident that we can offer
you the guidance, stimulation and support which will make
the next year a happy and productive time for you. You may
like the experience so much that you decide to stay on with
us for a further two years of study for a PhD, which is what
many of our MA students do! (The Centre also houses one of
the largest and most successful PhD Schools in Banking and
Financial Studies). If you have any doubts about the "Bangor
experience", why not come and visit us first?
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Banking and financial services represents a
highly competitive and rapidly changing sector in every modern
economy. Changes in customer requirements, technology, competitive
conditions and regulation create the need for managers, traders
and analysts to make rapid and often far-reaching decisions
about their short term operations and long term strategies.
The MA/Diploma Programme at Bangor offers you a unique opportunity
to study advanced theory and practice relating to financial
services, and to develop an appreciation of the causes and
significance of current developments in this vitally important
and dynamic sector of the economy.
- those seeking or developing careers in banking, finance
or capital markets
- those seeking or developing careers in regulatory agencies,
like central banks
- those contemplating a career in financial analysis or
investment analysis
- those contemplating a career in the treasury division
of large corporations
- those wishing to undertake study to the PhD level can
use the framework of the MA Programme to obtain the first
year of advancement
- those wishing to pursue academic careers.
Issues which you will tackle as part of your postgraduate
studies include the following:
- Why are the financial systems in different
countries (such as the UK, Germany, Japan and the US) so
diverse? What determines the structure, performance and
efficiency of banking and financial markets?
- Why do banks and financial intermediaries
exist? What are the main theories of the banking firm? How
relevant are financial intermediaries in a world of increasing
securitization and with the revolution of virtual banking?
- How do financial firms optimally allocate
capital? Does bank regulation increase or decrease risks?
How do we measure the risks undertaken by banks? Can regulators
reduce the likelihood of systemic (system-wide) risk?
- What are the relationships between risk and
return governing investment in company shares and other
derivative instruments? Can market risk be priced accurately?
Can credit risk be priced accurately?
- How should institutional investors go about
constructing a portfolio of assets to maximise returns on
behalf of investors? How can we assess the investment performance
of pension funds, insurance companies and unit trusts?
- How do banks use futures, options, derivatives
and swaps to manage their balance sheet and off-balance
sheet risks? What are the key principles of international
portfolio management in a world of fast and unpredictable
movements in exchange rates?
- How do banks manage their business so as
to maintain customer relationships, improve operational
efficiency and add shareholder value?
The ever-changing nature of financial systems,
together with their growing importance in economies, has made
it increasingly important for banks, fund managers, multinational
companies, securities firms, regulators and financial advisors
to have a clear understanding of the theory and practice relating
to banking and finance. Familiarity with the most recent developments
in asset and liability management, portfolio analysis, risk
appraisal and financial analysis are essential requirements
for all those involved in financial sector activities or who
wish to gain a deeper understanding of these important business
areas.
With these needs in mind, the long-established
MA programme at Bangor aims to develop participants' existing
skills by advanced study in the areas of banking and finance.
An important objective is to provide participants with relevant
analytical training so that they are familiar with the latest
theoretical and practical developments relating to banking,
finance and capital markets.
The course provides a coherent theoretical framework
for the various subject areas, but the emphasis throughout
is on advanced practical application of financial developments
and techniques in a real-world setting.
The MA/Diploma Programme in the Centre for Banking
and Financial Studies is recognised by the ESRC.
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The Centre for Banking and Financial Studies
is part of the School for Business and Regional Development,
a major school at University of Wales, Bangor. We are a multi-disciplinary
school that includes three professors of banking and related
financial studies within its academic staff, together with
other professors, full-time lecturers, external lecturers,
tutoring assistants and other support staff. The Centre houses
two research institutes (described on the next page), which
provide specialist expertise and facilities to our students.
Teaching and research within the Centre are also enhanced
by our computing facilities. We have our own dedicated computer
teaching laboratories with links to commercial databases and
the Internet, and our students have access to other computer
laboratories throughout the University.
The Centre brings together four major strands
of teaching and research. There is the analytical power of
economics, asking fundamental questions about economic activity
ranging from the operations of individuals, firms and markets
through to government policy issues. There is the specialist
expertise of banking and finance, which looks in detail at
financial institutions and financial markets. There is accounting
with its emphasis on the measurement of economic activity
for internal decision making and external scrutiny. Finally,
there is management, business studies and marketing with their
concern for understanding the organisation, how its human,
physical and financial resources can best be deployed and
how products may be developed and best delivered to customers.
As well as undergraduate degrees (which span
financial studies, management and economics areas), and the
MA in Banking and Finance, we also offer a full-time Master
of Business Administration (MBA) in Banking and Finance, and
run a large PhD programme. All the postgraduate programmes
have a very strong international flavour attracting students
from around the globe.
Some of the Centre's research takes place under
the auspices of our two research institutes. The Institute
of European Finance (IEF) is based in its own Information
Centre within the School. The Centre contains one of the best
specialised banking and finance libraries in any European
university, and its facilities are open to all students. The
IEF employs its own full time staff and publishes the bi-monthly
World Banking Abstracts. The IEF is a long- established research
institute and is one of the major centres of applied research
in banking and financial services in the EU. Sponsors of IEF
research have included many big banks, research foundations,
the EC and World Bank. Recently, the IEF and researchers from
Cambridge University completed (for the European Commission)
one of the biggest studies of its kind ever undertaken on
the impact of the European Single Market on EU banking.
The European Accounting Research Centre (EARC)
provides additional research facilities in accounting and
finance and increases our links with the accounting profession.
The emphasis within the Centre for Banking and
Financial Studies is very much on friendly and informal relationships
between staff and students. One of the advantages of studying
in the Centre is that you will easily make personal contact
with members of staff, who are always ready and willing to
help out with any difficulties which you may encounter during
your studies. We offer you the opportunity to study in a school
which combines an international academic reputation with a
friendly, welcoming and hospitable atmosphere.
External contact with active practitioners in
all of the Centre's disciplines is seen as one of our top
priorities. This takes place through joint research and consultancy,
and invitations to visiting speakers from commerce, industry
and other universities to come and talk to our students and
run practical case studies.
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All participants must take four modules in Semester
1 and four modules in Semester 2. Research Methods (in Semester
1 and 2) is compulsory.
Research Methods
Bank Financial Management
International Financial Markets
Financial Accounting
Research Methods
Plus 3 from:-
- Banking Strategy and Performance
- International Financial Management
- Financial Analysis
- Modelling Financial Data
The modules usually run for 12 weeks each, and
are examined in January and May. Continuous assessment is
an integral part of the course, and will count for 25% of
your final assessment, with the exception of Research Methods
where continuous assessment counts for 50%. Successful completion
of these taught modules to a prescribed standard permits the
award of the Diploma.
Participants who achieve a higher standard are
allowed to undertake a dissertation (of at least 12,000 words
but no more than 20,000 words), the successful completion
of which gains the award of the MA. The dissertation should
be completed by the end of the calendar year in which the
examinations are sat.
MA dissertations are undertaken by individual
participants under guidance from staff supervisors. They are
advanced and original programmes of study which can be chosen
from any area of relevance to the MA Programme in Banking
and Finance.
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This module examines the structure and environment
of banking, followed by selected aspects of the applied economics
of the modern banking firm. The topics covered are financial
and credit intermediation, domestic and international banking,
regulation, the economics of the financial firm, competition,
structure-conduct-performance, banking industrial structure,
technology, innovation and electronic banking.
This module is concerned with banking strategy
and financial management; the main focus is on bank financial
management. Topics covered are planning and strategy, financial
management of the financial services firm, financial analysis,
cost efficiency, liquidity, lending, risk, capital adequacy,
asset and liability management and VAR (value at risk) analysis.
The module also includes case studies and visiting speakers.
This module focuses on the building blocks of
financial analysis, namely financial reports prepared under
different generally accepted accounting principles. The aim
is to provide an introduction to the form, content and principles
of financial statements before moving on to examine the nature
of creative accounting, accounting regulation and the harmonisation
of international accounting rules. The module provides a solid
base for the subsequent financial analysis course.
This module is concerned with the analysis and
interpretation of financial statements. The course considers
forecasting techniques for bankruptcy prediction and credit
appraisal, the response of stock markets to information and
news, advanced issues in ratio analysis, and international
dimensions of financial statement analysis.
This module builds upon the International Financial
Markets module by examining the investment and financing decisions
of corporate managers operating in international markets.
The module begins with an examination of market efficiency
and considers whether corporate managers can influence their
company's value. The module then addresses other related corporate
finance issues, including capital budgeting, capital structure,
dividend policy, mergers and acquisitions and examines corporate
motives for investing overseas, such as diversification and
differential taxation.
This module provides an introduction to risk
in investments, and to the pricing of shares, debt and financial
derivatives. Other topics include option theory, swap markets
and futures contracts, and an examination of bank treasury
management. Some of the coursework uses the School's financial
computing resources, and participants in this course also
work in small groups on two investigations: portfolio analysis
and exotic financial instruments.
Modelling Financial and Economic Data develops
participants' skills in the statistical modelling of data
analysed in empirical research in accounting, banking, finance
and economics. The course is divided into four parts and covers:
generalised models of tabulated data and binary responses;
time series modelling of financial prices; modelling the determinants
of bank performance and efficiency. The areas of statistical
modelling covered by the course are: the analysis of count
data; binomial models; seemingly unrelated regression; Garch
Models and stochastic frontier analysis.
The overall aim of this double module is to
equip students with basic research tools which can be used
in their study of other modules and in their dissertation.
The course also serves as a foundation for further study of
more advanced research methods for those students who wish
to purse higher degrees. We start with an introduction to
research methodology and sessions on information technology.
The main part of the course comprises an introduction to :
techniques of describing and summarising data; elements of
data modelling; principles of probabilistic inference; regression
analysis; time series analysis; and survey methodology. Teaching
includes computer workshops in which students carry out computations
using statistical software in the School's Computing Laboratory.
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Entry to the MA/Diploma requires a good first
degree in a relevant subject, e.g. economics, finance, accounting
or management from a university, or a similar qualification
from any other institution.
A two-year programme, with the first year as
a 'qualifying year', is also available for students whose
backgrounds are different from those outlined above in order
to prepare them more fully for their MA studies.
If English is not your native language, you
must provide satisfactory evidence that you have an adequate
knowledge and understanding of written and spoken English.
ELTS and TOEFL test scores of no less than 6.0 or 560, respectively,
are usually acceptable. It may be necessary for applicants
falling short of this minimum standard to attend an intensive
English Language course before registering for the academic
programme. Such a course is available at Bangor through ELCOS.
Please contact:
ELCOS Director
University of Wales, Bangor,
Gwynedd, LL57 2DG.
E-mail: els002@bangor.ac.uk
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Three-year degree schemes leading to batchelor's
degrees in accounting and finance, banking and finance, economics,
business studies and marketing, and management are offered
including various permutations. In addition a range of joint
degree programmes are also available. All these courses provide
an excellent training for those wishing to pursue a career
in finance, business and management.
Our Centre has a highly regarded postgraduate
programme which concentrates on PhD study in the areas of
banking and finance. Successful completion of the MA in Banking
& Finance counts as the first year of research training
for PhD students.
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BSc PhD Aston ACFA
Lecturer in Accounting and Finance
Research interests span finance, risk management
and insurance.
MA Sheff FCA
Senior Lecturer in Accounting
Research interests include real options and
corporate financing policy under different tax systems.
BS George Washington
MS PhD Rochester
Senior Lecturer in Economics
Research interests include Public Finance, international
debt and income distribution.
MSc (Economics) PhD Wales FCIS FCIB MIMgt
Professor of Banking
Research interests include bank regulation,
capital adequacy and the financial management and strategies
of banks and services firms.
BA PhD CNAA
Lecturer in Accounting
Research interests include the interface between
corporate finance and taxation.
BSc Wales MSc Wales
MBSc Manchester
Lecturer in Management Studies
Research interests include marketing, technology
transfer, human capital and regional economic development.
MSc Brad PhD Lanc FCA
Professor of Treasury
Research interests include financial analysis,
statistical modelling and international aspects of accounting
and finance.
MA Wales PhD Wales
Professor of Banking & Finance
Research interests include structure and performance
in European banking, modelling efficiency of financial institutions,
financial conglomeration and the strategic and financial management
of banks.
BA Leeds ACA
Lecturer in Accounting
Research interests include the objectives of
financial reporting.
BA Wales PhD Northwestern
Professor of Economics
Research interests include labour economics
with a special interest in the structure of wage contracts
and worker productivity.
BA Wales, MA Wales
Lecturer in Banking
Research interests include modelling bank performance
and efficiency, corporate governance and performance of mutual
banks and international banking.
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