COURSE CURRICULUM

The MSc Behavioural Finance curriculum at the ICMA Centre is designed to integrate financial theory, quantitative methods and psychological insights to explain how real investors and markets behave. The programme begins with core modules in behavioural finance, where students examine how cognitive biases, heuristics and emotional factors influence investment decisions and contribute to market inefficiencies and anomalies. This is supported by psychological and behavioural sciences for finance, which introduces concepts from cognitive and social psychology to help explain decision-making processes in financial contexts. Students also study investments and financial securities and markets, covering portfolio theory, asset valuation, risk and return, and the functioning of global financial markets. Econometric analysis for finance develops applied quantitative skills, enabling students to analyse financial data using statistical and computational tools. Investment portfolio management focuses on practical portfolio construction, diversification strategies and performance evaluation. In the later stage of the programme, students choose from specialist modules such as financial econometrics, derivatives securities, algorithmic and high frequency trading, and alternative investments and structured products, allowing deeper engagement with advanced financial techniques. Ethical, regulatory and governance issues are addressed through modules including ethical dilemmas in finance, financial regulation with fintech applications and governance, power and accountability. Optional applied components such as work placement and consumer behaviour further strengthen industry relevance. Overall, the curriculum combines behavioural insights, financial economics and quantitative tools to prepare students for careers in investment management, banking, trading and financial analysis.