Oxford MSc

Financial Economics
2025–26

Impact from within

 Oxford MSc Financial Economics

‘Choosing the MSc in Financial Economics (MFE) at Saïd Business

School was driven by the programme’s interdisciplinary nature,
which sets it apart from pure finance programs. Having previously
studied economics, I wanted to deepen my understanding of the
financial principles governing markets and transactions.

The MFE’s core curriculum of asset pricing, corporate finance,

economics, and financial econometrics promised a strong
foundation in financial economics. Additionally, the electives and
co-curricular programmes, such as the Oxford Saïd Finance Lab,
were particularly appealing as they would allow me to tailor my
degree to a career in investment banking and kick-start my career
at Bank of America.

I was also excited to be taught by thought leaders in finance and

economics, including Dimitrios Tsomocos, Kevin Sheppard, and
Thomas Noe. The School’s global reputation, expert faculty, and
robust career services were significant factors in my decision-
making process.’

Aishwarya Potdar
MFE 2023–24
Investment Banking Summer Analyst, Bank of America
 Oxford MSc Financial Economics

The Master’s degree for your future

Where theory meets practice

Bringing together academic rigour and practical
97%
application, the MSc in Financial Economics (MFE)
trains you to be a financial economist prepared for International students
the challenges of the future. Graduates leave with a
command of economics, knowledge of a wide range of
financial applications, an international perspective and
mastery of real-world skills that are in demand across
747
leading companies and organisations spanning a wide
range of industries. Average GMAT score

Alternatively if you wish to pursue an academic career,

the emphasis on applying theory to practice provides
an excellent foundation for doctoral studies. 27
Nationalities
Two disciplines, one top-ranked
degree programme
The MFE is jointly delivered by Saïd Business
97
School finance faculty and the Oxford University
Department of Economics. Your nine-month learning Class size
experience combines the expertise of two world-class

23
departments and is enriched by input from exceptional
practitioners from leading international firms.

Average age
A global student body

47%
Join a diverse and vibrant cohort of ambitious students
from around the world. Our students typically have
less than two years of professional experience and
are ready to launch or accelerate an exciting career in
international finance or consulting. Female participants

6 months
Average work experience

*These statistics are from the 2023-24 cohort

 Oxford MSc Financial Economics

Your MFE at a glance

Electives Pre-arrival careers Careers Launch Week

(5 or 4 + project) programme
Programme launch
Pre-programme courses:
mathematics, Python,
Wall Street Prep and
financial reporting

Ju
ly
m
r
te
ity
Trin

Sep

Master the finance and

tember

economics skills and

knowledge demanded by
top employers to accelerate
your career in finance.
rm
te
Hi
la

y
as

te lm
r

rm
h ae
Mi c

Core courses: Core courses:

Asset Pricing, Economics, Asset Pricing, Economics,
Financial Econometrics, Financial Econometrics,
Corporate Finance Corporate Finance,
Ethics and Finance
 Oxford MSc Financial Economics

Programme overview

Pre-arrival preparation
Careers workshops Mathematics and financial reporting
We start preparing you for your future career before You will be required to take pre-course classes in
you have even arrived in Oxford, with pre-arrival mathematics, Python, Wall Street Prep and financial
careers events and workshops organised over the reporting alongside the careers workshops and
summer. These run, typically, over three weekends professional development events.
(2.5 hours each Saturday and Sunday) and consist of
workshops and insights from both our experienced
career coaches and industry experts. These weekend
sessions are interspersed with employer presentations
and alumni panels mid-week to jump-start your
professional development. This pre-arrival ‘programme’
is designed to get you application-ready in time for
the many internship schemes that will open well in
advance of your start in Oxford.

Michaelmas and Hilary terms – your first six months

Five core modules
A deep dive into core subjects: corporate finance, financial econometrics,
asset pricing and economics. The economics modules apply theories and
methodology to finance, while the finance modules cover the underlying
economic principles of financial practice.

1. Asset Pricing 3. Economics 5. Financial Econometrics

Understand the theory and practice Learn to apply the basic tools of Master the fundamentals
involved in valuing claims and market and firm analysis, game of empirical modelling and
uncertain cash flows – from stocks theory, incentive theory, and testing in finance, providing
and stock options to bonds and auctions. appropriate techniques for
foreign exchange instruments. empirical investigation in financial
4. Ethics and Finance economics.
You will be required to take an
2. Corporate Finance Ethics and Finance course in
Explore the fundamental principles Michaelmas term. This course
of financial accounting, the engages students with theory
valuation of firms’ assets and the and practice. It will offer students
determinants of firms’ financial the opportunity to interact with
structures. practitioners on an ethical topic
and write a case study using real
world data.
 Oxford MSc Financial Economics

Options for your final term

Trinity term elective courses
Select a total of five electives to tailor your learning experience and expand
your knowledge in areas important for your career. The list of electives below
are examples of courses previously offered; the list changes year to year.

• Advanced econometrics: forecasting • Governance and ethics

• Continuous time finance • Identification: the art and science of separating
causation from correlation
• Corporate valuation
• International finance
• Diversity, inclusion and finance
• Investing in private markets
• Financial crises and risk management
• Investing in public equity
• Financial markets trading
• Mergers, acquisitions and restructuring
• Fixed income and derivatives
• Private Equity
• Fundamental analysis for active investing

Alternatively, you may substitute one elective with a written project

addressing a question of academic interest or practical significance.
 Oxford MSc Financial Economics

Go beyond the classroom

Understand the key concepts, processes, Asset Management Masterclass

instruments and models required to be Exceptional students with some prior experience in
successful in financial services. Master investing will have the opportunity to participate in a
practitioner-led course. The masterclass will improve
the essentials for a role in investment their understanding of modern fund management from
banking, private markets investment, micro and macro viewpoints.

private equity, or asset management.

Chartered Financial Analyst
Finance Lab Saïd Business School is a founding member of the
This tailored programme is led by seasoned practitioners CFA Educational Partnership programme. Some 70%
with many years of transaction and market experience. of the official CFA qualification is embedded within
the MFE curriculum and is officially recognised by the
At its core are a series of models that are used to CFA. A large proportion of students are registered
evaluate and appraise situations from the real world. with the CFA Institute. This partnership gives them the
You will leave with a toolkit to tackle financial problems opportunity to access CFA material, sample exams and
ranging from valuations to leveraged buyouts, to M&A invitations to attend professional development events.
transactions and more.

You will actively participate in experiential workshops

and seminars using real-life case studies working
alongside banking firms and funds.

Organisations that have participated in The Lab include:

Investment banks Private equity funds Other
• Bank of America • Ardian • BDO
• Barclays • August Equity • Deloitte
• Citi • Bain Capital • EBRD
• Deutsche Bank • Blackstone • EY-Parthenon
• Goldman Sachs • Bridgepoint • GT
• Houlihan Lokey • CDC • FTI Consulting
• JP Morgan • Hamilton Lane • ICG
• Lazard • Hermes GPE • Park Square
• Morgan Stanley • KKR • Walker Hamill
• PJT Partners • LDC
• Rothschild & Co • Oak Tree Capital
• UBS • Terra Firma
 Oxford MSc Financial Economics

Drive your career development

Realise your fullest potential with the support of the Careers Team. We will
work closely with you to drive your professional development and plan your
future career. Building on the curriculum and co-curricular experiences like
the Finance Lab and Asset Management Masterclass, we help you develop
the tools, competencies and mindset to meet your aspirations – and your
future employer’s needs.

Employers who have recruited graduates in recent years

Finance employers • Nomura Group Other industry sectors

• Oakley Capital
• AB Bernstein • Tencent Holdings Limited
• Ontario Teachers’ Pension Plan
• Alta • Trafigura
• PIMCO Europe
• Bank of America* • Yaowarat Krungthep Gold Group
• Revantage
• Bank of England
• Rothschild & Co
• Barclays
• Signal Group Employment type
• Bloomberg
• UBS*
• Cevian Capital
• Wells Fargo
• China Resources
• CICC
• Citibank (APAC) Limited Consulting employers
• CPP Investment Board*
• Bain & Company*
• Credit Agricole
• BCG
• Deutsche Bank
• BDA China Limited
• Evercore
• Deloitte
• FT Partners
• Delta Partners
• Goldman Sachs*
• EY-Parthenon
• Goldman Sachs Asia Finance 70%
• L.E.K. Consulting
• Haitong Securities Consulting 25%
• McKinsey & Company*
• Hamilton Lane Other 5%
• OC&C Strategy Consultants
• Istanbul Stock Exchange
• Roland Berger
• KPMG
• Strategy&
• Marvel Victory
• Teneo
• Morgan Stanley

*These companies have hired two MFE students or more

 Oxford MSc Financial Economics

Work destination

47%
United Kingdom
9% 26%
North America 11% Asia

Europe

5%
Middle East and
North Africa

Starting salaries

£66,761 £53,547 £60,578

Finance mean salary Consulting mean salary Average mean salary

*These statistics are drawn from 2022–23 information

 Oxford MSc Financial Economics

‘The MFE’s unique combination of academic, career and

networking opportunities was invaluable in helping me realise
my goals. Through many practice interviews and advice sessions,
the careers team supported me in accomplishing my search.
Ultimately, I graduated with multiple offers in my target industry.

Most of all it was great to get to know such an exciting and

intelligent group of people — I leave the programme grateful to
count new friends from across the University.’

Oliver Howes
MFE 2022–23
Associate, L.E.K. Consulting
 Oxford MSc Financial Economics

Your life in Oxford

The University of Oxford is a truly unique institution and

offers a broad range of activities and societies which will
enrich your student experience.

Living in Oxford Global Alumni Network

Enjoy century-old pleasures such as punting, visiting The Oxford Saïd Alumni Network is the School’s official
The Ashmolean (Britain’s oldest museum) walking alumni community, bringing together individuals that
through the misty Christ Church Meadow in the early share a common interest in business. They support the
hours, or enjoy a pint at one of the many historic pubs school and serve as our ambassadors around the globe.
Oxford has to offer.
As an Oxford graduate you will also have access to the
wider University of Oxford alumni network globally.
Oxford clubs and societies
There are over 200 registered clubs and societies • 27k+ OBA members
representing a breadth of interests from entertainment • 150+ countries
to the arts, language, politics, sports and beyond. MFE • 20 regional OBA chapters
students can also join societies related to their degree,
• 60 dedicated OBA ambassadors globally
such as CapitOx, Oxford Alpha Fund and Oxford
Strategy Group. • 300k+ University of Oxford alumni

The college system

Upon admission you will become a member of one
of Oxford’s 43 colleges. Through your college you
will meet and make friends with a broad range of
students outside of your discipline and will join an
interesting and dynamic community in addition to the
one at the School. All colleges offer welfare support,
access to sport and social events, and facilities such
as a library and a dining hall where you can attend
formal college dinners.

The Oxford Union

You can apply for membership to the most prestigious
debating society in the world. During the University
terms, politicians, musicians, business leaders,
sporting stars and more visit Oxford to join a topical
debate or share their motivational story.
 Oxford MSc Financial Economics

Ready to apply?

Are you ready to take a decisive step towards an exciting

future? Get in touch with our admissions team today.

Full academic transcripts References

A minimum of a 2.1 degree (GPA 3.5 or its equivalent) Three academic or professional references.
is required – with your transcript outlining the subjects
you have studied and your grades. It is not required that Personal Essay
these subjects be in the field of finance, economics or What has attracted you to the MSc Financial Economics
business. and how do you think the programme will support your
five-year career plan?’ (Maximum of 500 words.)
Work experience
Relevant work experience, such as an internship, is Video interview
treated favourably at the application stage, but is not On submitting an application, all candidates are invited
mandatory. to complete a Kira Talent video assessment. This
includes four motivation- and competency-based
English test questions and one written question.
A TOEFL, IELTS, CPE or CAE test is required if you are
not from an English speaking country. This does not
need to be provided at the time of application.

GRE or GMAT score

It is compulsory to submit your application with either
GMAT or GRE scores. We do not have strict minimum
requirements. Your score will be assessed holistically,
taking into account other areas of your application.

Course fee
Application deadline Final decison The fee for the MFE programme
2025–26 is £59,360.
Stage 1 Friday 25 October 2024 Friday 6 December 2024
More information
Visit: www.sbs.oxford.edu/mfe
Stage 2 Friday 3 January 2025 Friday 28 February 2025
Email: [email protected]

Stage 3 Wednesday 5 March 2025 Wednesday 16 April 2025

 Oxford MSc Financial Economics

‘The MFE offers the perfect blend of intellectually challenging

and practitioner-oriented coursework that very few graduate
programmes are able to replicate.

All the core modules are taught by world-renowned faculty at the

cutting edge of their respective fields, which adds a completely new
layer to the material we study. This helped me take a different
perspective on many of the concepts I took for granted, which are
fundamental to navigate the financial markets of today.

Our professors also did a fantastic job of tying foundational

economic theory to real-world situations directly relevant to the
work of an analyst. For example, the MFE incorporates 70% of
the material required for the CFA designation.

Thanks to the resources provided alongside the programme, I was

able to take a meaningful step in my career by transitioning to the
buyside after graduation.’

Nicolas Tuteleers
MFE 2023–24
Academy Associate, Point72 Asset Management, L.P.
 Oxford MSc Financial Economics

Saïd Business School is a vibrant and innovative school, embedded within the University of Oxford,
offering accredited degrees and diplomas for undergraduates and postgraduates and a broad portfolio
of on-campus and online courses for business executives. The School educates global business leaders,
change makers and innovators across every industry and sector. Its ground-breaking research and
exceptional teaching transforms individuals, who transform businesses, which transforms the world
and creates impact from within.

Taught Programmes Open Executive Education Custom Executive Education

• MBA We provide leaders and We offer bespoke learning solutions

• 1+1 MBA organisations a place to evolve – to to enable organisations to address
step back from the intensity of day- critical business challenges and drive
• Executive MBA
to-day operations and to think about change.
• MSc in Financial Economics the future in both on-campus and
• MSc in Global Healthcare online programmes.
Leadership To learn more visit:
Our programmes cover a broad www.sbs.oxford.edu/custom
• MSc in Major Programme range of topic areas:
Management
• Digital Transformation
• MSc in Law and Finance
• Entrepreneurship
• Executive Diploma in Artificial
Intelligence for Business • Finance

• Executive Diploma in Financial • Social Impact

Strategy • Innovation
• Executive Diploma in Global • Leadership
Business • Strategy
• Executive Diploma in • Sustainability
Organisational Leadership
• Executive Diploma in Strategy
To learn more visit:
and Innovation
On-campus
• BA in Economics
www.sbs.oxford.edu/oncampus
and Management
Online
www.sbs.oxford.edu/online
Research Programmes
• DPhil in Management
• DPhil in Finance

Impact from within

Saïd Business School

University of Oxford
Park End Street
Oxford, OX1 1HP
United Kingdom All information is correct at the time of
going to press. Please check our website
for the most up-to-date information.

www.sbs.oxford.edu © 2024 Saïd Business School