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International Finance (MEconSc)
Course Overview
This programme is specifically designed with dedicated courses to deepen students’ understanding of the forces driving the global economy and the operations of the international financial markets. The programme provides both a rigorous foundation in the theory of international finance and necessary technical skills used in applied financial market analysis, with a particular emphasis on fundamental tools for financial analysis such as R, Python, and Excel.
It provides an emphasis on current issues in international economic policy and on recent developments in the areas of multinational investment flows, dynamics of exchange rates, risk management and asset pricing. Students gain a deeper understanding of both the microstructure and macroeconomic implications of these issues, and necessary technical skills for analysing financial data using computer simulation-based models.
The financial services industry, which is a part of the internationally traded services sector, has been identified by the Irish government as one of the key sectors for the delivery of high value-added jobs in Ireland and a crucial sector in the further development of Ireland’s knowledge-based economy.
The programme provides a special emphasis on current issues in international economic policy and on recent developments in the areas of multinational investment flows, dynamics of exchange rates, risk management and asset pricing.
Students gain a deeper understanding of both the microstructure and macroeconomic implications of these issues, and necessary technical skills for analysing financial data using computer simulation based models.
New Internship Option
International Finance students have the option to pursue a work placement opportunity incorporating an applied International Finance Project. Work placements are competitive and subject to the availability of suitable positions. We will source as many work placement opportunities as possible, but it is at the discretion of employers as to whether they shortlist and offer a position to applicants. Students may also self-source their own work placement subject to the approval of the Placement Office.
Applications and Selections
Applications are made online via the University of Galway Postgraduate Applications System.
Who Teaches this Course
Requirements and Assessment
Semester One exams: December.
Semester Two exams: April/May.
A range of assessment methods are integrated and applied throughout the programme. These include essays, projects, reports, presentations, and computer simulation-based assignments. Students also submit a minor dissertation.
Key Facts
Entry Requirements
Normally a H2.1 degree (NFQ Level 8 or equivalent) with Economics to intermediate level.* Candidates with a significantly high H2.2 honours degree and who have achieved a 2.1 average in relevant Economics modules as their major, may also be considered. * By "intermediate level economics" we mean courses in microeconomics and macroeconomics at a level typically done in second or third year of an undergraduate programme. Accordingly people who have only studied one year of economics are not eligible for admission. IELTS score of 6.5 or equivalent, if applicable.
Additional Requirements
Recognition of Prior Learning (RPL)
Duration
1 year, full-time
Next start date
September 2024
A Level Grades ()
Average intake
30
QQI/FET FETAC Entry Routes
Closing Date
Please refer to the offer rounds/closing date web-page.
NFQ level
Mode of study
ECTS weighting
Award
CAO
Course code
MECS-IF
Course Outline
The programme provides a special emphasis on current issues in international economic policy and on recent developments in the areas of multinational investment flows, dynamics of exchange rates, risk management and asset pricing.
Students gain a deeper understanding of both the microstructure and macroeconomic implications of these issues, and necessary technical skills for analysing financial data using computer simulation based models.
Graduates with these skills are highly valued by commercial banks, investment banks and other financial institutions, by public institutions such as Central Banks and by multinational corporations.The Financial Services industry, which is a part of Internationally Traded Services, has been identified by the Irish Government as one of the key sectors for the delivery of high value-added jobs in Ireland and a crucial sector in the further development of Ireland's knowledge-based economy.
The programme includes such modules as:
- Macroeconomic Theory and Policy
- Microeconomic Theory
- Applied Portfolio Management
- Derivatives and Risk Management
- Economics and the Global Economy
- Financial and Macroeconomic History
- Financial Data Analytics
- Financial Econometrics
- Global Financial Economics
- International Finance
- Green and Sustainable Finance
New Module: Green and Sustainable Finance
Transforming the global economy to make it more sustainable requires large investments, especially for enabling a green and low-carbon transition. The aim of this module is to introduce students to the important role of financial markets in the transition to a climate-neutral, green, competitive and inclusive economy. The module explores the requirements to mobilise financial markets to align with environmental and climate targets, and focuses on the different financial products and instruments that can power the transition. Overall, the module will consider how to embed green and sustainable finance principles and practice into financial decision-making.
International Finance Project
The International Finance Project is intended to give students the opportunity to consolidate knowledge and skills acquired during the International Finance Masters programme and undertake an applied research project. The aims of the project are to enable the student to critically evaluate research in finance and/or economics; to demonstrate independent research; to apply theoretical knowledge and applied techniques acquired; to demonstrate critical thinking skills; and, to produce a well written final project that contributes to existing knowledge. Where appropriate, the project can be linked to employment or work placement. This module involves a series of discussions and meetings with assigned supervisors, the submission of a research proposal, the reporting of progress to supervisors within agreed timeframes, and the submission of the final applied research project.
Why Choose This Course?
Career Opportunities
Graduates with the skills taught in this programme are highly valued by commercial banks, investment banks and other financial institutions, by public institutions such as Central Banks and by multinational corporations. Employers of graduates of this programme include Goldman Sachs, J.P. Morgan, First Derivatives, European Central Bank, and Central Bank of Ireland.
As a graduate of this programme, you will combine your knowledge, skills and competences to evaluate investment opportunities, carry out research to develop financial solutions, and leverage your numerical and analytical skills to communicate technical information in a simple format to your clients, employers, and public sector agencies. This programme can also be a stepping stone to a PhD programme.
Special emphasis is given to current issues in international economic policy and to recent developments in cross-border investment, exchange rates, risk management and asset pricing. Graduates with these skills are highly valued by banks and other financial institutions, by public institutions such as central banks and by multinational corporations.
Develop a Career Path
The programme is your passport to the exciting and rewarding world of financial services. This postgraduate qualification opens up a wide variety of career opportunities in the financial services industry, both in Ireland and abroad. From Galway to Singapore, from New York to London, financial services businesses such as banks, insurance companies, stockbrokers and investment funds, as well as government agencies, central banks and multinational corporations all put enormous value on the skills taught in this programme
Education to the highest international standards
The programme aims to deepen students’ understanding of the forces driving the global economy and the operations of international financial markets. The programme is designed to provide students with a rigorous analysis of the theory of international finance and the essential technical skills for using frontier methods of applied financial analysis. The programme offers students’ hands-on training of computer-based simulation models for both business analytics and the analysis of financial data.
New Internship Option Available from September 2023
International Finance students have the option to pursue a work placement opportunity incorporating an applied International Finance Project. Work placements are competitive and subject to the availability of suitable positions. We will source as many work placement opportunities as possible, but it is at the discretion of employers as to whether they shortlist and offer a position to applicants. Students may also self-source their own work placement subject to the approval of the Placement Office.
New Partnership with GARP (Global Association of Risk Professionals)
GARP's Academic Partnership Program was created to help colleges and universities improve their risk management course offerings. The program offers a wide range of benefits for academic institutions, and combines rigorous instruction with practitioner-driven insight to ensure that students are prepared for the demands of the global financial industry. By aligning with GARP, our programme joins a network of the world’s top risk practitioners and academics, allowing them to create better curriculums that reflect the latest international standards.
New Module: Green and Sustainable Finance
Transforming the global economy to make it more sustainable requires large investments, especially for enabling a green and low-carbon transition. The aim of this module is to introduce students to the important role of financial markets in the transition to a climate-neutral, green, competitive and inclusive economy. The module explores the requirements to mobilise financial markets to align with environmental and climate targets, and focuses on the different financial products and instruments that can power the transition. Overall, the module will consider how to embed green and sustainable finance principles and practice into financial decision-making.
International Finance Project
The International Finance Project is intended to give students the opportunity to consolidate knowledge and skills acquired during the International Finance Masters programme and undertake an applied research project. The aims of the project are to enable the student to critically evaluate research in finance and/or economics; to demonstrate independent research; to apply theoretical knowledge and applied techniques acquired; to demonstrate critical thinking skills; and, to produce a well written final project that contributes to existing knowledge. Where appropriate, the project can be linked to employment or work placement. This module involves a series of discussions and meetings with assigned supervisors, the submission of a research proposal, the reporting of progress to supervisors within agreed timeframes, and the submission of the final applied research project.
Who’s Suited to This Course
Learning Outcomes
Transferable Skills Employers Value
Work Placement
Study Abroad
Related Student Organisations
Course Fees
Fees: EU
Fees: Tuition
Fees: Student levy
Fees: Non EU
Postgraduate students in receipt of a SUSI grant – please note an F4 grant is where SUSI will pay €4,000 towards your tuition (2024/25). You will be liable for the remainder of the total fee. A P1 grant is where SUSI will pay tuition up to a maximum of €6,270. SUSI will not cover the student levy of €140.
Postgraduate fee breakdown = Tuition (EU or NON EU) + Student levy as outlined above.
Note to non-EU students: learn about the 24-month Stayback Visa here.
Find out More
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What Our Graduates Say
Anthony Patrick Saoud | 3M Data Analyst, Canada
The MEconSc (International Finance) at NUI Galway equipped me with advanced quantitative tools and techniques, which allowed me to standout and work in a competitive Fortune 500 company. The program exposed me to several fields in finance and quantitative research that enabled me to think outside the box and adapt to a variety of sectors.
Mohit Agrawal | Ph.D. Candidate in Economics, Yale University
As a Master’s student in Economics, I was impressed by NUI Galway’s students, faculty, and facilities. The program size was small, allowing me to learn from and become friends with my fellow students in a collegial atmosphere. The faculty were fully dedicated to students, easy to talk to, and well-versed in their fields. Meanwhile, the facilities at NUI Galway were top-notch, with great computer labs, libraries, and social spaces. Lastly, I enjoyed living in Galway, with its historic city center and scenic seaside promenade; Galway was a perfect launching pad for trips across Ireland and Europe. During my time in Galway, I gained a unique understanding of economic policy in the context of Ireland and the Eurozone. I strongly encourage international students to consider study at NUI Galway.