MSc Islamic Economics, Finance and Management

Degree Type
Course Leader

The MSc in Islamic Economics, Finance and Management programme provides students with a critical understanding of economics, finance, and accounting from both Islamic and conventional theory. The programme employs a multi-disciplinary approach to examine conventional financial and economic theory, classical Islamic commercial law, Islamic financial instruments, and evaluation of financial data as part of the global financial system to equip students for employment, further studies or research. The course will develop research capabilities and critical insights into the theory and practice of the Islamic financial sector. It contextualises Islamic principles within a contemporary financial setting.

The Course is offered on both a full-time (12 months, over three semesters) and part-time (24 months, over six semesters) basis.

The taught modules are delivered through a mode of blended learning, which combines traditional class-based methods and guided independent study with online learning.  Lectures, tutorials, seminars, occasional workshops, peer group learning (such as delivering presentations to the class), study visits and independent study are incorporated into the programme. The dissertation allows students to choose their own area of interest as a focus for research.

Entry Requirements

Candidates will normally need to have achieved an honours degree from a UK university or an overseas university agreed by NARIC as equivalent.

Students may also enter with up to 80 Level 7 credits via the Recognition of Prior Learning (RPL).

International applicants who require a Tier 4 visa to study in the UK will need to ensure that they have an IELTS test from a UKVI approved test centre. Applicants will need to have achieved an average score of 6.5 in their IELTS test (with a minimum of 6.0 in each of the four sub-components of language learning (reading, writing, speaking and listening). For a list of UKVI approved test centres please use the following link: UKVI approved test centre

Programme Structure

  • Postgraduate Certificate: Awarded on the basis of 60 credits which must include 45 credits from core modules.
  • Postgraduate Diploma: Awarded on the basis of 120 credits.
  • MA Degree: 180 credits (including the dissertation)

Modules

Module Code

Title

Credits

Core /Option

Assessment

MF7 600

Dissertation

60

Core

100% coursework

MF7 700

Islamic Economics and Moral Economy

20

Core

40% examination

60% coursework

MF7 703

Econometrics for Islamic Finance

20

Core

50% examination

50% coursework

MF7 701

Islamic Commercial Law and Transactions: Foundation of Islamic Finance

20

Option

40% examination

60% coursework

MF7 702

Risk Management in Islamic Finance

20

Option

100% coursework

MF7 704

Islamic Microfinance and Entrepreneurship

20

Option

100% coursework

MF7 705

Objectives of the Shari’ah: Social Responsibility and Sustainability

20

Option

100% coursework

MF7 706

Islamic Financial and Capital Markets 

20

Option

100% coursework

MF7 707

Strategy, Change and Leadership

20

Option

100% coursework


Contact Hours

For 20 credit module:

  • Scheduled: 48 hours
  • Independent: 152 hours
  • Total: 200 hours

For the normal route, each taught 20 credit module will have 4 hours/ per week scheduled contact time for one semester (12 weeks) which includes blended learning activities. The modules will be delivered by blended learning, which employs multiple methods to deliver learning by combining face-to-face interactions with online activities. Face-to-face interactions include lectures, seminars/tutorials, student presentations, and one-to-one support. In addition, students will be expected to engage in independent study to prepare for weekly classes, formative assessments, and examinations/coursework for each module.

Our staff

You are taught by a highly qualified, enthusiastic team of academics with wide-ranging research interests. Their research is used in lectures and seminars so you learn about the latest issues impacting on the subject area.

Career Paths

Graduates of the Masters of Islamic Studies Programme may proceed onto PhD Research. They can also seek employment opportunities in organisations in the private, public, and non-profit sectors in a broad range of positions and roles. The MA course opens up opportunities for careers that demand postgraduate skills in Islamic Studies such as in research, community leadership, policy analysis and consultancy, NGOs, Media international development, and which require multi-disciplinary understanding to address challenges in their community, workplace and in the world, as well as for becoming researchers in the field.

Career choices also include a wide range of areas such as policy-making roles at local and national governmental level, and advisory/consultative positions in Civil services or NGOs; or working with Muslim specialised journalism and media; Islamic education; chaplaincy (pastoral care); charitable sectors; community service; international corporation, interfaith relations, Shariah advisors; the public sector - including the civil service; banking/finance; legal studies and post-graduate studies and research.

A Master’s degree in Islamic Studies may be beneficial for policymakers, imams/religious ministers, chaplains, plus lecturers/teachers who are aspiring to further advance their careers.

How to Apply

If you wish to join any of our programmes, please complete an online application from the website www.mihe.ac.uk, mentioning details of your academic qualifications and outlining your motivation for applying for your chosen course. You will also need to include two references.  Applications for the February intake should be received by mid-January, and for the September intake by the end of August.  If you need any further advice or assistance please email us at info@mihe.ac.uk.

Fees and Funding

The tuition fee for UK and EU students is £5,500/year and £8,500/year for overseas full-time students. What's included? The fee includes registration, tuition, examination/assessment marking and graduation. It excludes study materials, re-examination (re-takes), residential accommodation, meals, travel, graduation robes and photographs.