Finance and Real Estate (with CFA Level 1 Examination), _MSc

Compulsory Courses

Quantitative Methods (BU5025)

15 Credit Points

This course develops a mathematical and statistical ‘toolbox’ for PGT students in the Business School. These tools will useful in understanding and implementing research in business- and economics-related fields both during a student’s academic career as well as after graduation. The first part of the course covers basic mathematical models common across these fields. The second part of the course develops standard data analysis methods, including multivariate regression. The final part of the course examines shortcomings in the standard model and describes ways of overcoming those shortcomings.

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Accounting (BU5031)

15 Credit Points

Students will gain an understanding of what financial information is for and how it is controlled by government, the stock exchanges and other institutions. Students will explore financial accounting assumptions and conventions. They will develop their technical knowledge and skills to enable them to record business transactions and prepare financial statements. Finally, students will be introduced to financial statement analysis and the calculation of key metrics. This will allow them to explore how accounting information is used by stock market participants and the impact on users of current developments and issues in accounting practice, governance and standards.

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Valuation and Finance (BU5035)

15 Credit Points

The course introduces the mathematics of valuation and investment and considers the principles underlying basic valuation and investment formulae. The distinguishing characteristics of the bond, equity and property market are critiqued. The five property valuation methods are discussed via a series of lectures supplemented by tutorials/workshops in which valuation problem-solving tasks are discussed, with an emphasis on the investment method of valuation. While the focus is on real estate, the course seeks to raise awareness of the range of investment opportunities. The course seeks to develop good numeracy and analytical skills.

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Real Estate Economics (BU5036)

15 Credit Points

This course aims to provide an overview of basic economic models and recent developments regarding the working of real estate markets and urban land markets. The course is intended to enable students

i) To examine real estate as a set of linked markets, functionally divided between use, investment and development

ii) To understand the dynamics of specific types of real estate markets and appreciate real estate market modelling approaches

iii) To understand the location patterns of land use within urban areas and regional development

iv) To understand the role that regulations and planning play in real estate markets

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Compulsory Courses

All of the courses for Stage 1 plus:

Portfolio Analysis (BU5526)

15 Credit Points

This course examines theories and issues relevant to portfolio analysis. Themes include: risk and return; investment motives; the application of modern portfolio theory (including the Capital Asset Pricing Model); information and market efficiency; portfolio analysis and asset pricing; bonds and equities; real estate and derivative markets.

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Financial Analysis and Markets (BU5575)

15 Credit Points

Like football, this course is a game of two halves. The first half is financial analysis and builds your ability to analyse companies and think about the implications of financial performance for investors. We will be using Datastream and Bloomberg software. In the second half we will think about how stock markets work and how they are regulated.

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Real Estate Development and Appraisal (BU5578)

15 Credit Points

This course applies the principles of valuation to more complex real world examples. Topics covered include rent reviews, compulsory purchase, property investment, property development and national taxation. Students are encouraged to critique traditional approaches to valuation and to consider contemporary alternatives. Numeracy and analytical skills are further developed along with expertise in the use of Excel. In addition, the course also covers professional surveying practice, including ethics, and stimulates discussion on contemporary issues and debates in the real estate industry.

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Optional Courses

(BU5848) Studies in Finance || Compulsory for non-CFA Route
Or
(BU5849) Professional Finance || Compulsory for CFA Route

Studies in Finance (BU5848)

15 Credit Points

If you do not wish to undertake the CFA exam, then you will be choosing this course. This is designed for those seeking a more theoretical rather than professional edge to their MSc. You will be teamed with a member of faculty to develop a literature review of a mutually agreed area of finance research.

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Professional Finance (BU5849)

15 Credit Points

Becoming a Certified Financial Analyst charter holder is the aspiration of every finance industry professional. This course covers the CFA syllabus courtesy of our friends from FitchLearning who will teach you week by week and prepare you for the CFA level 1 exam. You will also write an essay reflecting on professional and academic approaches to finance

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BU5951/5952/5953/5954 Asian Cities Tour

or

BU591T Real Estate Internship

* Students choosing the Real Estate Internship option will be responsible for finding their own internship in a real estate organisation based in the UK. (Where a student does not hold a UK passport, the student will be responsible to check whether they are eligible to work in the UK given any Visa regulations that might apply to them.)

or

BU5955 Real Estate Dissertation

Optional Courses

Asian Cities - Hong Kong (BU5951)

15 Credit Points

This is one of four courses that comprise the Asian Cities module. Students travel to six Asian cities (Hong Kong, Singapore, Shanghai, Beijing, Seoul and Tokyo) over approximately thirty days in July. This intense program involves daily meetings and seminars with key real estate investment and development professionals. Participants will complete four case studies based on current development projects and investment scenarios in four of six cities visited. This program follows a rigorous schedule with students engaged in site visits, lectures, discussions and seminars for upwards of 8 hours a day, 5 days a week over the month long course.

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Asian Cities - Seoul / Tokyo (BU5952)

15 Credit Points

This is one of four courses that comprise the Asian Cities module. Students travel to six Asian cities (Hong Kong, Singapore, Shanghai, Beijing, Seoul and Tokyo) over approximately thirty days in July. This intense program involves daily meetings and seminars with key real estate investment and development professionals. Participants will complete four case studies based on current development projects and investment scenarios in four of six cities visited. This program follows a rigorous schedule with students engaged in site visits, lectures, discussions and seminars for upwards of 8 hours a day, 5 days a week over the month long course.

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Asian Cities - Singapore (BU5953)

15 Credit Points

This is one of four courses that comprise the Asian Cities module. Students travel to six Asian cities (Hong Kong, Singapore, Shanghai, Beijing, Seoul and Tokyo) over approximately thirty days in July. This intense program involves daily meetings and seminars with key real estate investment and development professionals. Participants will complete four case studies based on current development projects and investment scenarios in four of six cities visited. This program follows a rigorous schedule with students engaged in site visits, lectures, discussions and seminars for upwards of 8 hours a day, 5 days a week over the month long course.

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Asian Cities - Shanghai / Beijing (BU5954)

15 Credit Points

This is one of four courses that comprise the Asian Cities module. Students travel to six Asian cities (Hong Kong, Singapore, Shanghai, Beijing, Seoul and Tokyo) over approximately thirty days in July. This intense program involves daily meetings and seminars with key real estate investment and development professionals. Participants will complete four case studies based on current development projects and investment scenarios in four of six cities visited. This program follows a rigorous schedule with students engaged in site visits, lectures, discussions and seminars for upwards of 8 hours a day, 5 days a week over the month long course.

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Real Estate Dissertation (BU5955)

60 Credit Points

The dissertation is an independent piece of work. The choice of topic is largely your own but approval must be obtained from the course coordinator and your dissertation supervisor. The dissertation should contain a large degree of original work and allow you to demonstrate in depth the skills and knowledge you have acquired on the MSc. The dissertation should be around 15000 words in length. You will be expected to show competence for independent work and to demonstrate a clear definition of the problem or subject area to be studied and the formulation and expression of a logical, workable solution.

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