Master of Science Economics and Finance

7th August 2018
1.5 Years on PT/DE
  •  1.0 INTRODUCTIONThis programme brief summarises the contents of the Master of Science Economics and Finance (MEF) degree programme and is accordingly structured as follows. The programme rationale, aim, objectives and target group are outlined in Sub-sections 1.1 to 1.4 respectively, while the admission criteria and duration of study are given in Section 2.0. The programme structure is outlined in Section 3.0.


    There is a growing need world over to have professionals with the ability to empirically test and adapt economic and finance models to new market environments. Market environments are changing rapidly and are demanding specific skills and thus the need to train professionals that understand financial economics and modelling skills to model and forecast financial and economic data. This programme will successfully prepare students for a wide range of high-level and global careers to suite and meet the current market demand with potential employers such as investment and commercial banks, economic and financial asset management companies, consulting firms, and policy-oriented organizations.

    1.2 AIM

    The aim of the programme is to prepare students from quantitative disciplines with the opportunity to develop their understanding of financial economics, financial econometrics, microeconomics and macroeconomics. It will further use the principle of evidence based learning to expose students to corporate and international finance, and portfolio and risk management. This will allow them to examine financial markets through in-depth analysis based on financial and economic theory and statistical methods.


    By the end of the programme, students should be able to:

    • evaluate the scope of financial markets in Zambia, the region and globally;
    • evaluate, analyse and forecast macroeconomic policies in Zambia and internationally;
    • demonstrate the critical abilities of understanding the data types, how to transform data, and methodological tools for data analysis; and
    • collect and analyse financial and economic data to help in solving challenges related to investment, banking and government policy framework.


    The MSc Economics and Finance degree programme is designed to meet the growing demand for researchers in financial economics from all fields of specialization. It is intended for university graduates with qualifications in economics and/or finance related fields who wish to specialise in financial economics.



    To qualify for admission to the MSc Economics and Finance degree programme an applicant must have any of the following qualifications:

    • a degree in economics, finance, accounting, pension and insurance from a recognised institution; or
    • any relevant degree from a recognised institution.



    The programme of study for the award of the MSc Economics and Finance qualification shall be completed in a period of not less than 18 months and not more than three academic years.

    For the purpose of computing the maximum period of study where a person undertakes the study for the MSc Economics and Finance qualification, partly as a part-time/evening/distance education and partly as a full-time student, three (3) courses successfully completed by the student shall count as one academic semester (one half year).


    Each year of study is divided into two semesters and students are expected to take three courses in each semester.  The course structure is as shown in Tables 1 to 2 below.


    Table 1 Year1 courses

    Semester 1 Semester 2
    Course Code Course Course Code Course
    MEF111 Research Methods (15 credits) MEF112 Corporate Finance (15 credits)
    MEF121 Advanced Microeconomics (30 credits) MEF122 Advanced Macroeconomics (15 credits)
    MEF131 International Business Finance  (15 credits) MEF132 Advanced Econometrics (30 credits)



    Table 2 Year 2 courses

    Semester 1
    Course Code Course
    MEF211 International Banking and Finance (15 credits)
    MEF271 Dissertation (30 credits)
    One elective from:
    MEF221 Project Management (15 credits)
    MEF231 Public Sector Economics (15 credits)
    MEF241 International Economics (15 credits)
    MEF251 Corporate Governance (15 credits)
    MEF261 Financial Risk Management (15 credits)

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