MSc in Islamic Economics, Finance and Management

What is this course about?

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 centres.

Course 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

Dissertation

  • Module Code: MF7 600
  • Credits: 60
  • Core

Assessment:

  • 100% Coursework

Islamic Economics and Moral Economy

  • Module Code: MF7 700
  • Credits: 20
  • Core

Assessment:

  • 60% Coursework
  • 40% Examination

Econometrics for Islamic Finance

  • Module Code: MF7 703
  • Credits: 20
  • Core

Assessment:

  • 50% Coursework
  • 50% Examination

Islamic Commercial Law and Transactions: Foundation of Islamic Finance

  • Module Code: MF7 701
  • Credits: 20
  • Option

Assessment:

  • 60% Coursework
  • 40% Examination

Risk Management in Islamic Finance

  • Module Code: MF7 702
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Islamic Microfinance and Entrepreneurship

  • Module Code: MF7 704
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Objectives of Shari’ah: Social Responsibility and Sustainability

  • Module Code: MF7 705
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Islamic Financial and Capital Markets

  • Module Code: MF7 706
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Strategy, Change and Leadership

  • Module Code: MF7 707
  • Credits: 20
  • Option

Assessment:

  • 100% Coursework

Contact Hours

For 20 credit modules:

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

For the normal route, each 20 credit module will have 4 hours/ per week scheduled contact time for one semester (12 weeks), including 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 the subject area. For a list of current staff, please click here.

Career Paths

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

If you wish to join any of our courses, 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. 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

Please see details for the tuition fees for both UK and overseas students at:Fees and Financial Support.