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The Master of Finance electives cover a wide range of topics. They are designed to allow students to tailor the course to their own needs and cover specific product areas, techniques, and advanced quantitative skills.

Each MFin student must take at least seven electives. Below is a list of electives we hope to offer this year (please note that the specific electives on offer are subject to change from year to year):

Lent Term

Advanced Corporate Finance

A case-study based elective going into more detail on topics covered in Principles of Finance, principally valuation.

Further Derivatives

This course will focus on understanding the details of options pricing, hedging and trading as well as applications such as dividend swaps. There are no complex mathematics, but we will follow the intuition behind the Black-Scholes-Merton model and how it is used. We will also use the DerivaGem spreadsheet software that comes with the course book Options, Futures and Other Derivatives by John Hull.

Mergers & Acquisitions

This course aims to provide a basic framework for analysing corporate acquisitions, mergers and restructurings in an international setting. Students will analyse the essential elements of the acquisition process including; financial modelling, valuation methods, deal structuring, financing, and post-merger integration. Class work will include textbook readings, case studies, as well as quantitative, data-driven analyses.

Private Equity

Taught by a private equity practitioner with a wide range of international experience, covering new ventures and buyouts, financing, valuation and management.

Topics in Investment Management

A comprehensive course on long-term investing taught by a former investment manager and with guest practitioner speakers from leading investment management companies. Topics covered include active versus passive management, factor investing, private equity and alternative assets and responsible investing among others.

Easter / Summer Term

Advanced Credit

This course will provide an opportunity to explore more complex cash flow modelling and analysis from a credit perspective via a range of case studies. The course will also investigate the interaction between credit and market risk and the concept of loss given default. We will also cover a number of timely topics including CVA, Basel and it's implication on credit markets, and credit risk in project financing.

Further Econometrics: Time Series

This course is designed to provide students with essential and applicable knowledge of time series modelling. A large number of empirical contexts in Finance and Management, have data in the form of rich time series and this course will introduce students to concepts and methods that are appropriate for empirical research in such settings. The module covers methods for exploratory time series analysis, estimation of dynamic causal effects as well as forecasting.

Asian Capital Markets

An investor perspective on the key Asian financial markets taught by a principal in a hedge fund specialising in those markets, with extensive experience of the Chinese markets in particular.

Infrastructure Finance

Infrastructure is a sort of asset class, covering long term, capital intensive projects which typically include some element of state involvement. Examples include transport, electricity, gas, water and telecoms. The financing of such projects is somewhat more complicated than for standard corporate investment, both in the maturity of the funding, the complexity of the contracts and the role of the state, which introduces political risk. Most infrastructure investment uses project finance, in which the capital is raised by a separate project company set up for the task. It’s a very important area of finance because infrastructure is essential for other parts of the economy to function properly, especially in emerging economies. But there is also a huge need for new infrastructure investment in mature economies such as the US and UK. There are specialist investors and advisors in infrastructure investment as well as major participation from sovereign wealth funds and pension funds. It is likely to be an area of growth in the next decade.

Principles of Financial Regulation

This course provides a wide-ranging examination of the major themes and topics in financial regulation. The three major recurring objectives of financial regulation - financial stability; market efficiency, integrity, and transparency; and consumer protection - anchor the course. Broad topics examined include:

  • the public interest in financial regulation
  • the traditional purposes of financial regulation and how these have evolved over time
  • the main sources of financial regulation
  • the main types of regulatory intervention
  • financial innovation, competition and regulation
  • the relationship between crises and regulation

Understanding the International Economy and Financial System

This course will introduce some key concepts from international economics and finance to explore the world economy and the problems of the world financial system. We will examine the role of globalisation of trade and capital, against the backdrop of pressures in many countries to raise barriers to both. We will look at the difficulties of reforming the financial system, at a time when the global distribution of economic power away from the west towards developing Asia has made reform ever more necessary. Finally, we'll consider the politics of the international economy and why economic globalisation is under pressure in many rich countries.

Venture Capital

A practical, case-based course on how to build successful companies taught by an experienced venture capitalist.

As students of the University of Cambridge, MFin students also have the opportunity to attend lectures across other disciplines such as mathematics, statistics, economics and Matlab courses.

Why the Cambridge MFin?

The Cambridge MFin focuses on the theory and practice of finance, drawing upon the University of Cambridge's long heritage of excellence in teaching and research. We are one of only a few Master of Finance programmes in which 100% of the class has existing work experience in finance.

Find out more

Cambridge MFin Executive Director shares insights on the programme

Leverage networks and make use of every opportunity is Marwa Hammam's advice to prospective students of Cambridge Judge Business School's MFin programme

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