PROGRAMME
PROGRAMME AMENDMENT FORM
School use only: (Form updated April 2014)
Date proposed / Date approved by School TQEC (minor amendment) / Date reported/passed to College Programmes Committee (minor/major amendment)Please refer to the attached Guidance Notes to help you complete this proposal.
It is the responsibility of the Programme Director (or author of this proposal, if different) to draft and lead on this matter with the support of the Head of Department (or Executive Dean for School held programmes).
This form should be completed for both MINOR and MAJOR amendments. MINOR amendments must be submitted by 1 March preceding the session in which teaching would begin for approval by School Teaching and Quality Enhancement Committees.
*MAJOR amendments must be submitted to the Head of Academic Standards and Quality (Registry Services) by 28th February i.e. 18 months in advance of commencement of the revalidated programme for consideration by the College Programmes Committee (for further details see the ‘Programme Approval Guidance Notes’). The definition of “major” amendments applies only to those amendments constituting a substantially altered programme thus effectively requiring re-validation (see below).
Major amendments to existing programmes are deemed to be changes in excess of 50% of the programme as a whole which may include amendments to the assessment/curriculum/programme and award regulations. For example, this would include changing over 50% of the nature of assessment on the programme, or introducing a substantial number of alterations to the curriculum (defined in terms of the balance of modules at different levels or alterations to core courses), or changing the programme and award regulations including substantial changes to the programme aims and learning outcomes, entry requirements, intermediate awards, duration, level of the award etc. The above guidance is indicative only and not exhaustive and discretion will be exercised by the Academic Registrar and Head of Academic Standards and Quality (Registry Services) in assessing whether an amendment falls within the above category.
The author of a major amendment* (or a nominated substitute) should be prepared to speak to this at a meeting of a Programme Development Panel convened on behalf of the College Programmes Committee or to provide information required by correspondence.
Complete sections 1 to 5
1 / Programme Code and Title(See Guidance Note 1) / Code / Title
TMSFINCE_C / MSc Finance
2 / Department/School with primary responsibility for the Programme (Indicate School held programme) / Economics, Mathematics and Statistics (BEI)
3 / Date amendment will be effective / September 2016 / 4 / Amendment applies to / New / Continuing / All students
(delete as appropriate)
5 / Please indicate in the table below which type of amendment(s) is/are proposed and give reasons for this change.
Complete the section(s) that follow as appropriate.
Title of award / Significant changes to teaching and learning methods
Addition of intermediate award(s) / x / Significant changes to curriculum / assessment / x
Mode of study / Programme and award regulations / x
Entry requirements / x / Other (please specify)
Aims/learning outcomes / x
Does this constitute a MAJOR amendment? YES / NO
Rationale for change:
This programme amendment is part of the redesigning and re-structuring of the GDF and the MSc Finance programmes. The redesign allows us to re-position the MSc Finance relative to our other MSc programmes, and the London market of postgraduate finance programmes.
Most of all, the new programme structure introduces a basic MSc Finance (exit award: MSc Finance) that allows students to obtain an MSc Finance degree without any prior knowledge in Economics, Finance or related fields, thereby increasing the attractiveness of the programme. At the same time, the existing more advanced MSc Finance withnamed pathways(exit awards: MSc Finance and Commodities, MSc Finance and Banking, MSc Finance with Accounting) is being preserved.
Students completing the basic MSc Financeobtain a thorough training in state-of-the-art financial expertise as required by professional bodies. For entry on to the basic MSc Finance programme, the entry criteria are usually a second-class honours degree or better.
Students completing the MSc Finance with named pathways are specialists well suited to work in specialized fields of quantitative finance in financial institutions, banks and insurance companies, or carry out academic research leading to a PhD. For entry on to the MSc Finance programme with named pathways, the entry criteria are usually a first- or second-class degree or its equivalent in either a directly relevant or a quantitative subject.
6 / New Title of Award
7 / Addition of Intermediate Award(s)
(See Guidance Note7) / Graduate Diploma in Finance (GDF)
8 / Mode of Study
(See Guidance Note 8) / FT / x / PT / x / DL / NL
9 / Revised Entry Requirements / MSc Finance: For entry on to the basic MSc Finance, the entry criteria are usually a second-class honours degree or better, or equivalent qualifications. Students with a third class degree may sometimes be admitted if there is clear evidence of under-performance, relative to potential, in the first degree.
MSc Finance (with named pathways): For entry on to the MSc Finance programme withnamed pathways, the entry criteria are usually a first- or second-class degree or its equivalent in either a directly relevant or a quantitative subject, or the Birkbeck Graduate Diploma in Finance. In some circumstances students are admitted with a degree at less than second class honours level, provided that their subsequent work experience and/or education and training is deemed to have brought them to an equivalent standard. Students are expected to pass the pre-sessional modules on quantitative techniques and introductory finance in September.
10 / Aims/Learning Outcomes(See Guidance Note 10)
Current Aims / Proposed new Aims
The MSc Finance programme aims to provide excellent training in the modern finance, including asset pricing, financial econometrics, corporate and international finance. Students who complete the programme successfully are financial specialists well suited to work in financial institutions, banks and insurance companies, or carry out academic research leading to a PhD. / The MSc Finance programme aims to provide excellent training in modern finance.
Students completing the basic MSc Finance obtain a thorough training in state-of-the-art financial expertise as required by professional bodies, including asset pricing, portfolio management, corporate finance, financial econometrics and asset management.Students completing the basic MSc Finance are well suited to work in many financial institutions, banks and insurance companies.
Students completing the MSc Finance with namedpathwaysare specialists well suited to work in specialized fields of quantitative finance in financial institutions, banks and insurance companies, or carry out academic research leading to a PhD.
Current Learning Outcomes / Proposed new Learning Outcomes
(no change) / (no change)
11 / Teaching and Learning Methods
Current Teaching and Learning Methods / Proposed new Teaching and Learning Methods
(no change) / (no change)
12 / Curriculum/Assessment(See Guidance Note 12)
Current Curriculum
Part time
Year 1
Level / Module Code / Module Title / Credits / Status
6 / BUEM027S6 / Quantitative Techniques / 30 / Compulsory
7 / EMEC042S7 / Theory of Finance and Derivatives / 30 / Compulsory
7 / OPTION / Various / 15 / Option
7 / OPTION / Various / 15 / Option
Year 2
Level / Module Code / Module Title / Credits / Status
7 / BUEM045H7 / Financial Econometrics I / 15 / Compulsory
7 / BUEM050H7 / Financial Econometrics II / 15 / Compulsory
7 / OPTION / Various / 15 / Option
7 / OPTION / Various / 15 / Option
7 / BUEM028S7 / Dissertation / 30 / Compulsory
Full Time
Year 1
Level / Module Code / Module Title / Credits / Status
6 / BUEM027S6 / Quantitative Techniques / 30 / Compulsory
7 / EMEC042S7 / Theory of Finance and Derivatives / 30 / Compulsory
7 / BUEM045H7 / Financial Econometrics I / 15 / Compulsory
7 / OPTION / Various / 15 / Option
7 / BUEM050H7 / Financial Econometrics II / 15 / Compulsory
7 / OPTION / Various / 15 / Option
7 / OPTION / Various / 15 / Option
7 / OPTION / Various / 15 / Option
7 / BUEM028S7 / Dissertation / 30 / Compulsory
Proposed Curriculum (exit award: MSc Finance)
Part time
Year 1
Level / Module Code / Module Title / Credits / Status
6 / (new) / Mathematics for Finance / 30 / Compulsory
7 / BUEM068S6 / Financial Markets / 30 / Compulsory
7 / (new) / Econometrics of Financial Markets / 30 / Compulsory
Year 2
Level / Module Code / Module Title / Credits / Status
7 / BUMN039H7 / Principles of Financial Reporting / 15 / Compulsory
7 / BUEM043H7 / Corporate Finance / 15 / Compulsory
7 / (new) / Economics of Financial Markets / 15 / Compulsory
7 / BUEM040H7 / Asset Management / 15 / Compulsory
7 / BUEM028S7 / Dissertation / 30 / Compulsory
Full time
Year 1
Level / Module Code / Module Title / Credits / Status
6 / (new) / Mathematics for Finance / 30 / Compulsory
7 / BUEM068S6 / Financial Markets / 30 / Compulsory
7 / (new) / Econometrics of Financial Markets / 30 / Compulsory
7 / BUMN039H7 / Principles of Financial Reporting / 15 / Compulsory
7 / BUEM043H7 / Corporate Finance / 15 / Compulsory
7 / (new) / Economics of Financial Markets / 15 / Compulsory
7 / BUEM040H7 / Asset Management / 15 / Compulsory
7 / BUEM028S7 / Dissertation / 30 / Compulsory
Proposed Curriculum (exit award: MSc Finance with named pathways)
Part time
Year 1
Level / Module Code / Module Title / Credits / Status
6 / BUEM027S6 / Quantitative Techniques / 30 / Compulsory
7 / EMEC042S7 / Theory of Finance and Derivatives / 30 / Compulsory
7 / OPTION / Various / 15 / Option
7 / OPTION / Various / 15 / Option
Year 2
Level / Module Code / Module Title / Credits / Status
7 / BUEM045H7 / Financial Econometrics I / 15 / Compulsory
7 / BUEM050H7 / Financial Econometrics II / 15 / Compulsory
7 / OPTION / Various / 15 / Option
7 / OPTION / Various / 15 / Option
7 / BUEM028S7 / Dissertation / 30 / Compulsory
Full Time
Year 1
Level / Module Code / Module Title / Credits / Status
6 / BUEM027S6 / Quantitative Techniques / 30 / Compulsory
7 / EMEC042S7 / Theory of Finance and Derivatives / 30 / Compulsory
7 / BUEM045H7 / Financial Econometrics I / 15 / Compulsory
7 / OPTION / Various / 15 / Option
7 / BUEM050H7 / Financial Econometrics II / 15 / Compulsory
7 / OPTION / Various / 15 / Option
7 / OPTION / Various / 15 / Option
7 / OPTION / Various / 15 / Option
7 / BUEM028S7 / Dissertation / 30 / Compulsory
Current Scheme for Assessment / Proposed new Scheme for Assessment
(no change) / (no change)
13 / Programme and Award Regulations (See Guidance Note 13)
Current Regulations / Proposed new Regulations
MSc Finance: After the successful completion of the MSc programme, students areawarded an MSc Finance or one of the named pathway degrees.
MSc Finance and Banking:
Students who choose the Financial Markets, Banking and Regulation option (30 credits) and write a suitable dissertation will obtainan MSc Finance and Banking
MSc Finance and Commodities:
Students who choose the Commodities andCommodity Derivatives option (30 credits) and write a suitable dissertation will obtainan MSc Finance and Commodities
MSc Finance with Accounting:
Students who choose the two Accounting options (30credits) will obtain an MSc Finance with Accounting. / MSc Finance: After the successful completion of the compulsory modules for the exit award MSc Finance, students areawarded an MSc Finance.
MSc Finance with named pathways: After the successful completion of the modules for the exit award MSc Financewith named pathways, students areawarded one of the named pathway degrees below:
MSc Finance and Banking
Students who choose the Financial Markets, Banking and Regulation option (30 credits) and write a suitable dissertation will obtainan MSc Finance and Banking
MSc Finance and Commodities
Students who choose the Commodities andCommodity Derivatives option (30 credits) and write a suitable dissertation will obtainan MSc Finance and Commodities
MSc Finance with Accounting
Students who choose the two Accounting options (30credits) andwrite a suitable dissertation will obtain an MSc Finance with Accounting.
PG Certificate: Students that obtain a total of 60 credits (in any level 7 module) are awarded a Postgraduate Certificate in Finance
GDF: Students that obtain 90 credits in the modules
- Financial Markets
- Econometrics of Financial Markets
- Mathematics for Finance
PGDF: Students that obtain a total of 120 credits (in any module) are awarded a Postgraduate Diploma in Finance
14 / Other Amendment (SeeGuidance Note 14)
15 / Resources(See Guidance Note 15)
Are additional resources required to effect the changes requested?YES / NO(Delete as appropriate)
If YES, please give details of additional resources required. Confirm that consultation has taken place in all caseswith relevant colleagues supporting these services (detailed below) to indicate agreement. This consultation should be evidenced by covering emails.
Accommodation – additional resources required: no
Consultation with Room Bookings: YES / NO
Library – additional resources required: no
Consultation with Subject Librarian: YES / NO
Information Technology Services (ITS) – additional resources required: no
Consultation with User Support Manager (ITS): YES / NO
Media Services – additional resources required: no
Consultation with Media Services Manager: YES / NO
16 / Agreement(See Guidance Note 16)
Name / Date
Programme Director
(or author of this proposal, if different) / Dr David Schröder / 30 October 2015
Head of Department (or Executive Dean for School held modules) – to be evidenced by covering email / Professor John Driffill / 30 October 2015
Chair of STQEC (including date of STQEC meeting at which amendment approved) / Dr Anita Walsh
GuidanceNotes
The College’s ‘Programme Approval Guidance Notes’ should be consulted when completing this form, particularly for MAJOR amendments.
In developing the programme, account should be taken of the College’s Common Awards Scheme, the national Framework for Higher Education Qualifications, the Higher Education Credit Framework for England, relevant QAA Subject Benchmark Statements and, where appropriate, the requirements of Professional, Statutory and Regulatory Bodies.
Section / Note1 / Current SITS code and approved title
7 / A student who successfully completes part of their programme of study but is not eligible, or able, to complete the full programme may be eligible for an intermediate award. For example a student who only partially completes an MA programme may be eligible for a Pg Dip or Pg Cert award. Please note that certain awards may be offered as entry points to programmes of study and may also be available as intermediate-awards.
8 / Mode of study may be: full time; part time; distance learning; network learning.
10 / The aims and learning outcomes should be those taken from the approved programme proposal/specification.
12 / This section should detail changes made to the curriculum for the award (including changes to the balance of modules at different levels or alterations to core courses) or changes to the overall scheme for the assessment. Proposals for any new core or compulsory modules should be submitted at the same time as the programme amendment.
13 / This section may include changes made to the programme and award regulations in terms of the scheme for the award eg, the requirement for particular modules to be passed or taken.
14 / Any other amendment not specified in a previous section, eg, Department/School responsible for delivery, duration etc.
15 / Provide details of any ADDITIONAL resources required. Consultation with Room Bookings, the relevant Subject Librarian, User Support Manager (ITS) and Media Services Manager are required in all cases and this consultation should be evidenced by covering emails.
All teaching and learning must be sufficiently flexible to enable all reasonable adjustments to be made in accordance with the Disability Discrimination Act (DDA).
16 / In signing this form the Programme Director (or author of the proposal, if different) confirm that all contributing Schools/departments, including relevant Module Leaders, have been consulted regarding the amendment and that all parties are in agreement with the proposed change.Approval of the Head of Department (or Executive Dean for School held modules) and the Chair of the School Teaching and Quality Enhancement Committee should be evidenced by covering emails, the latter to include the date of the STQEC meeting at which the amendment was approved.
Relevant External Examiners should be consulted and notified of any changes made to existing programmes within their remit.
CLOSING DATE FOR MINOR PROGRAMME AMENDMENTS: 1 MARCH PRECEDING THE SESSION IN WHICH TEACHING WOULD BEGIN and FOR MAJOR AMENDMENTS28 FEBRUARY IN THE PRECEDING YEAR (I.E. 18 MONTHS IN ADVANCE OF COMMENCEMENT OF THE REVALIDATED PROGRAMME).
YOU MUST ALSO ENSUREALL OF THE ABOVE CONSULTATION/APPROVAL HAS TAKEN PLACE AND IS EVIDENCED BY COVERING EMAILS BEFORE YOU SUBMIT THE FORM. Please return the form to the Secretary of the School Teaching and Quality Enhancement Committee (STQEC) in line with the above deadline. If this is not the case the proposal may not be approved for submission to the Committee at this time since this does not allow sufficient time for full consideration to take place and for any possible further work/areas of clarification to be dealt with.
Following approval (where appropriate) of minor amendments by the School TQEC notification of the amended programme should be made to the College Programmes Committee via the Head of Academic Standards and Quality (Registry Services). At this time the Head of ASQ will notify Planning and Business Systems, Student Administration (Registry Services), Examinations and Assessment (Registry Services)and External Relations, as appropriate,and the required changes will be made to the Birkbeck Student Information System (BSIS) and to the relevant prospectus (if required).
Following approval in principle by the College Programmes Committee of the MAJOR amendment the same procedure for approving a new programme will be invoked.