THE UNIVERSITY OF READING
MSc COURSES IN
ECONOMICS, ACCOUNTING, BANKING AND FINANCE 2001/02
Faculty of Letters and Social Sciences
SCHOOL OF BUSINESS
THE DEPARTMENT OF ECONOMICS
1
INTRODUCTION
The best advice to a student intending to study for a postgraduate qualification is to apply to those universities whose strengths lie in the intended area of study, since this will not only ensure expert specialist supervision and resources for their work, but will also ensure a 'critical mass' of fellow postgraduates engaged in similar studies. The Economics Department at Reading University is well represented in most areas of applied micro and macro economics as may be seen from the research interests and activities of the members of staff listed on our website ( Within these areas of research we have a consistently high international ranking in International Investment and the Multinational Enterprise, Macroeconomics, Development, Economics, Contemporary European Economic Issues, Industrial Economics, Business History, Finance and Accounting and Urban and Regional Economics.
A good deal of this activity is funded from sources external to the University and over the past few years alone, the Department has attracted over £2 million from such bodies as the Economic and Social Research Council, the Science and Engineering Research Council, Overseas Development Administration, Department of the Environment, Commission of the European Communities, UN Centre on Transnational Corporations, Esmee Fairbairn Foundation, the Leverhulme Trust, International Securities Markets Association and several international companies. The Economics Department at Reading has also been chosen by the official regulatory authority for international capital markets as the location of the ISMA Centre for Education and Research in Securities Markets. The focal point for research into international investment and multinational companies is the Graduate Centre for International Business chaired by Professor Cantwell. The Department is also a major participant in the interdisciplinary International Development Centre.
These research strengths have attracted a large group of postgraduate students (one of the largest MSc programmes in the UK) and this in turn enables us to offer a wide range of course modules (currently 31) on the twelve MSc degrees. At the same time, we are careful to ensure that all students have opportunities for discussion with staff. All courses organise frequent seminars for discussion, course convenors discuss project work individually with students, individual supervisors are appointed for dissertations, and all students have a personal tutor who gives general advice and support.
Size of University is also a factor which you might wish to take into consideration, and in terms of student numbers, Reading comes between the large civic institutions of London, Birmingham, Leeds and Manchester and the newer universities such as Essex, Kent, Lancaster and York. This enables us to offer a wide range of facilities while at the same time maintaining frequent formal and informal contact with our students. The University's traditional interest in Europe and in developing countries has steadily increased in recent years and, to support and encourage these teaching and research interests, the University has established an International Office with its own permanent staff which, among many other activities, organises an Overseas Student Welcome Programme to introduce overseas students to the University.
There are extensive library and computing facilities and the University is also designated as a European Documentation Centre, automatically receiving a substantial number of publications of the European Community. In addition, the Department of Economics maintains its own library which collects publications and documents not readily available through normal library channels, such as reports by international organisations, consultancy reports, company accounts, etc.
We have tried to answer most of the questions which postgraduate students are likely to ask, but if you have any additional queries, then please write either to me or to Professor Geoffrey Jones (MPhil and PhD students) or Matthew McQueen (MSc courses).
James Pemberton
Professor of Economics
Head of Department
THE DEPARTMENT: a centre of excellence
We are a large Department with 43 academic members of staff with an excellent reputation in the fields of economics, business, finance, accounting, management and urban and regional studies. In the latest exercise to assess research quality, Reading was one of only ten institutions in England and Wales to receive a top (5) rating in business and management, was awarded a 4 rating in economics and ‘flagged’ in urban and regional studies (meaning that this sub-group was identified as of a higher standard than the average for the 4 rated group as a whole).
The breadth of research interests in the Department can be illustrated by a sample of some of the subject areas in which the academic staff have recently published books or papers: forecasting world economic growth; volatility in stock market returns; forecasts of exchange rate volatility; the performance of UK outward investment; theory and practice of joint ventures in international investment; trade and aid co-operation and international agreements; national and international approaches to the reform of pensions and social security; information and incentives within firms; aspects of financial development in transitional economics; entrepreneurial behaviour among small Asian businesses in the UK; European industrial policy in a global competitive economy; US influence on European management practice; international similarities and differences in patterns of financial reporting; the future of accounting standards; technological innovation in the EU; the economics of industrial location; the role of multinational subsidiaries in technology and knowledge creation; urban housing problems and policies; modelling regional house prices; the impact of UK higher education on regional migration.
Reflecting the excellence of the reputation of the Department, senior members of staff have carried out advisory work for the World Bank, the UN, The European Commission, the Bank of England and a wide variety of UK Government ministries. Staff also serve on a number of national and international advisory committees, on the Boards of a number of learned journals, and as members of the Management Board of professional Societies and Associations. In 1991, the International Securities Market Association (Zurich) established the ISMA Centre, the Business School for Financial Markets, within the Department, and the Centre is now housed in a state of the art £3 million building close to the main Faculty building.
THE UNIVERSITY: high quality teaching in a very pleasant environment
The University was founded as an extension of Oxford University in 1892 and received its Royal Charter as an independent institution in 1926. The Department is located in the main Whiteknights campus of the University. This is a magnificent 300-acre park, once part of the medieval manorial estate of Erleigh Whiteknights and landscaped with extensive lawns, trees and lakes in the 18th century, providing a beautiful setting in which to study.
The majority of students, including postgraduates, live in the thirteen Halls of Residence, most of which are located around the northern perimeter of the park and in the residential streets nearby. Other students live in private bedsitting rooms, flats or houses in the town.
The Halls of Residence vary in age, size and character, but all are within easy reach of Whiteknights, and provide a range of study, domestic and social facilities, although some Halls have a limited number of ensuite facilities. Most Halls provide a choice of either fully catered meals in a central dining room or kitchens where students can prepare their own meals. All students have a key to their own room, and to the outside door if needed. All the Halls are within reasonable walking distance of shops, a bank, a post office and a bus route into the town. Car parking spaces are limited at some of the Halls.
Each Hall has a Warden, who is a member of the academic staff. Other members of the University also live in Hall and, like the Warden, are able to give help and advice to students.
The large, purpose-built, Libraryis the focus of the campus and contains nearly one million books. A wide range of information sources, both on CD-ROM and over the Internet, are available and the Library subscribes to over four thousand academic journals and periodicals. Extensive computing facilities operate throughout the University and, in addition, the Department of Economics runs its own library and computer room.
The University has some excellent resources for sport, all the major facilities for which are on its main campus. For those seeking casual and recreational sport, the University Wolfenden Sports Centre offers the full range of indoor sports and activities ranging from aerobics to yoga classes. These resources are complemented by the purpose built Students’ Union which provides facilities to allow students to relax and socialise. In addition to organising hundreds of clubs and societies, the Students’ Union offers bars, shops, various catering outlets and a wide variety of entertainments to suit all tastes.
The University Health Service provides a comprehensive medical service for students. Its modern, purpose-built Health Centre has in-patient and nursing facilities. Students who are taken ill during the term may be admitted to the Health Centre and cared for until they are well.
The University takes pride in the help and advice which it provides for its undergraduate and postgraduate students. This is primarily provided through a personal tutor, who is a member of the academic staff of the department in which you spend most time during the course and whose duty it is to provide impartial advice and assistance and where necessary, to represent your interests throughout your stay at the University. This is complemented by the Counselling Service staffed by professional counsellors, psychologists and psychotherapists. You can go and discuss with them in complete confidence any problems which might be troubling you, such as difficulties with study, examination anxieties, family problems and loneliness, or simply talk informally about how you are getting on.
The Careers Service provides a wide range of facilities including one-to-one discussions with careers staff, computer-based guidance and information systems, extensive library facilities, a website and substantial termly programmes of events. These provide insights into self-assessment, a range of opportunities and how to implement choices. The Careers Advisory Service works closely with recruiters; many employers organise presentations and interviews on campus.
THE TOWN: the best of town life
Reading is a large, thriving and bustling town in the heart of the Thames Valley and offers all of the attractions of a city with the peace of some of England's finest countryside. It is not a place that rests on its history: while it boasts the remains of one of England's largest and richest abbeys, the burial place of Henry I and a heritage dating back to Roman times, it accommodates its modernity with ease. The growth of new buildings reflects how many companies see Reading as a town of the future as much as the present.
The recently completed Oracle in the centre of the town is one of the country’s largest shopping and leisure complexes, and features over 80 shops, with all the top names. Situated at the heart of the Oracle is The Riverside, a vibrant promenade stretching along both sides of the river, featuring a wide range of restaurants and bars, as well as the 10-screen Warner Village Cinema, and an art gallery. In the Hexagon complex, you will find top-quality entertainment all the year round (and one month can boast appearances by a top rock band, a Mozart opera, acts by the nation's favourite entertainers, as well as top-class films), while several other theatres and venues ensure a whole spectrum of film, music and performance. Surrounding these complexes are a very wide selection of wine bars, pubs, cafes, restaurants and shops to cater for all tastes.
For those who need a break from the pubs, cinemas and clubs, there are the Chiltern Hills and the Berkshire Downs in the surrounding countryside. Or if you are going further, the town is close to the M4, while fast trains will take you to London (22 minutes), Oxford, Birmingham or Bristol.
INTERNATIONAL STUDENTS
The University of Reading has a long history of welcoming students from other countries. They represent one-fifth of the student community of the University, and currently come from 124 different countries. The presence of students from a wide variety of backgrounds and cultures has helped to create a stimulating international environment for all members of the University.
Reading maintains more than 550 formal academic links with universities around the world. Many of our staff have held senior posts abroad and have first-hand and recent knowledge of many countries.
The University of Reading has for many years made a substantial contribution to the education and training of people from overseas, many of whom returned to attain leading positions in their countries.
Services for international students
Information
Before leaving home students will be provided with comprehensive information about the University and studying in the UK.
Meet and greet
Arrangements can be made for students with special needs to be met on arrival at Heathrow or Gatwick Airports.
Welcome and orientation
The International Welcome Programme is organised for all new international students to ensure that they settle quickly into life in Reading. It starts 10 days before teaching commences.
Centre for Applied Language Studies
The Centre provides a course in English for Academic Purposes for over 200 students from July to September each year. For those students who need further help with English alongside their academic courses, tutorial support and classes are provided (free of charge for students paying the full overseas fee) during the year by the In-sessional Language Support Programme, which is run by the Centre. For more extensive language support, students may join the English Language & Study Skills Course which runs from October to the end of March. This course also offers intensive language and study preparation for postgraduate students beginning their studies in January or April of the academic year.
For further information contact the Course Administrator, CALS, The University of Reading, PO Box 241, Reading RG6 6WB, UK
The normal requirement for entry is a minimum average score in the International English Language Testing System (IELTS) of 7.0. The American Test of English as a Foreign Language (TOEFL) may be accepted with a score of 590, but this test does not include oral or continuous prose tests and the University therefore normally also requires applicants to take the additional TOEFL Test of Written English. We also accept the Cambridge Certificate of Proficiency at Grade B.
Advice
The International Student Adviser and Study Adviser will assist with any problems which may be encountered.
Hospitality
Hospitality is arranged by the International Office for students from overseas who wish to enjoy a visit to a British home.
The International Office
The International Office is concerned with all the overseas activities and interests of the University. It organises the Welcome Programme for new international students, arranges programmes for academic and official visitors from abroad, promotes the University overseas, and services the University's International Committee.
GUIDE TO OUR MSc COURSES AND MODULES
The Department of Economics currently offers nine MSc courses in Economics, Accounting, Banking and Finance (in addition to the MA and MSc courses offered through the Graduate Centre for International Business, the ISMA Centre, and the Centre for Euro-Asian Studies). The objectives of the MSc programme are to provide specialist training directly based on the research interests and activities of the staff of the Department of Economics, while the structure of the courses and their flexibility enables students to select modules which meet their interests, abilities and career intentions. The nine MSc courses are as follows:
Business Economics
International Business and Finance
International Banking and Financial Services
Multinational Accounting and Financial Management
Economic Development and International Trade
Development Economics and Policy
International Business and Economic Development
International Business and Economic Integration
International Business History
These are 9 month courses which begin in October and consist of 8 modules, which may be made up either from taught units or from taught units and a dissertation. Each module consists of twenty hours of lectures and seminars in which the lecturer guides you through the subject matter of the module, presents the fundamental elements of relevant analysis and technique and stimulates discussion.