MSc Islamic Economics, Finance and Management
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.
The Course is offered on both a full-time and part-time basis.
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)
For a 20-credit module:
- Scheduled contact hours: 48 hours
- Guided independent learning: 152 hours
- Total learning hours: 200 hours
For the normal full-time 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.
Students will be 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 the subject area.
Typical offer: Candidates will normally need to have achieved an honours degree from a UK university or an overseas university agreed by NARIC as equivalent.
Other: Students may also enter with up to 80 Level 7 credits via the Recognition of Prior Learning (RPL).
International: International applicants who require a Tier 4 visa to study in the UK will need to ensure that they also 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).Please use the following link to find UKVI approved test centres: UKVI approved test centres
Fees and funding
Graduates of the Masters 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 MSc in Islamic Economics, Finance and Management is beneficial for those who are seeking to work and advance their professional careers in the Islamic Economics, banking and finance industry. This programme provides a strong intellectual basis for Islamic economics, commercial law and Islamic financial instruments. Those completing the course will be able to seek employment opportunities in the finance and banking sectors including Islamic insurance (Takaful), financial regulation, Islamic capital markets, actuarial fields, and the investment arena, as well as for becoming researchers in the field.
How to apply
All prospective students must complete an application form. To gain a place at the Markfield Institute you will need to meet our general entry requirements and the specific entry requirements of your chosen course. Your application will be reviewed by the Admissions Team for your course, who will decide whether your application should receive an offer. Specific entrance requirements for individual courses can be found on individual course pages on this website. Entry to our postgraduate programmes usually requires a good Honours degree, or equivalent if you were educated outside the UK. After considering your application and documents, MIHE will send the candidate an email about the outcome of his/her application. Successful candidates will be sent an offer letter by email informing them about fees and the level and exact title of the course. Unsuccessful candidates will be informed by email.All students must complete an application form. If you are unable to complete this form for any reason, please contact firstname.lastname@example.org