Finance and Real Estate, MA

Finance and Real Estate, MA

Introduction

Finance and Real Estate at Aberdeen is the perfect springboard to a brilliant career in the international property world. This programme combines strong business and financial skills with in-depth study of real estate markets from the perspectives of economics, investment and business at Scotland's top centre, with professional accreditation. Aberdeen graduates enjoying a strong track of employment with major international companies in the real estate world.

Study Information

At a Glance

Learning Mode
On Campus Learning
Degree Qualification
MA
Duration
48 months
Study Mode
Full Time
Start Month
September
UCAS Code
NK32

In Finance, you will explore financial management, corporate and personal finance, financial institutions, derivatives and the stock market. You will analyse and evaluate financial problems and gain the practical skills to understand and use information from financial newspapers and documents. Your knowledge will grow in the dynamic, international environment of our Business School of over 40 nationalities, inspired by staff who are leaders in business practice and theory. You will learn in small classes with real-life scenarios and benefit from the input of employers and the support of dedicated careers advisers.

You will also benefit from professional training facilities, such as our Bloomberg finance lab, used by major financial services companies across the world and integrating real activity in financial markets directly into students’ courses.

Our Real Estate courses offer an exciting range of choice and flexibility, with courses focused on employability and taught by financial experts and researchers specialising in property investment and property market analysis. The course offers a route to professional accreditation and excellent preparation for a career in surveying, with a focus on commercial real estate, investment, management, valuation and development.

You will be sought after by a wide range of potential employers, including major property consultants, financial institutions, property investment or development companies and specialist research companies.

What You'll Study

Year 1

Compulsory Courses

  • Professional Skills Part 1 (PD1001)
Academic Writing for Business (AW1003)

This compulsory evaluation is designed to find out if your academic writing is of a sufficient standard to enable you to succeed at university and, if you need it, to provide support to improve. It is completed on-line via MyAberdeen with clear instructions to guide you through it. If you pass the evaluation at the first assessment it will not take much of your time. If you do not, you will be provided with resources to help you improve. This evaluation does not carry credits but if you do not complete it this will be recorded on your degree transcript.

The Economics of Business and Society (EC1006)

15 Credit Points

This course is an introductory course in microeconomics where we study the decision making of individual actors (consumers, employees, firms, governments, etc.) in an economy. Actors must make decisions about behaviours because they face scarce resources, but often they find that trading with other actors in markets can increase the wellbeing of all parties. This course models and examines the nature of these interactions, highlighting when they work well and when they fail to increase wellbeing and what might be the solution to these failures.

Finance 1: Finance, Risk and Investment (FI1004)

15 Credit Points

This foundation course in finance, risk and investment is the requisite for several degree programmes and for level 2 real estate and finance courses. The module considers the nature and operation of investment markets, focusing on three asset classes; shares, bonds and real estate. It looks at the characteristics of these investment options in terms of their risks and returns. The module introduces basic financial mathematics: time value of money, calculation of present values and investment rates of return. Finally, it considers the role of financial institutions and regulatory bodies in personal finance, where consumers and financial markets interact.

Accounting and Entrepreneurship (AC1517)

15 Credit Points

The course provides an understanding of how organisations, particularly small businesses, capture, create and use accounting information both to guide their own activities and to communicate their financial performance and financial position to parties external to themselves. It develops knowledge and understanding of accounting, accounting techniques and accounting information, so that students become informed users of accounting data and information, not creators of that data and information.

The Global Economy (EC1506)

15 Credit Points

This course is an introductory course in macroeconomics where we study the behaviour of the economy as a whole. Whereas microeconomics focuses on individual markets, macroeconomics addresses the “big issues” such as unemployment, inflation, economic growth, and financial crises. Macroeconomics is a lively subject, full of discussion and debate, as economists and policymakers take different views on macroeconomic issues, their causes and appropriate policy responses. Issues such as: Is the economy growing? What causes unemployment and how can we reduce it? How can we avoid recessions? When is inflation a problem? Are banks lending too much?

Understanding Property (PO1504)

15 Credit Points

This course introduces students to the world of the built environment, professional surveying practice and the construction industry. The first section of the course discusses the different types and characteristics of property in the UK and the different legal interests that can exist in property, why people invest in property and why and how property is developed; the second section focuses on the design and construction of buildings, the identification of defects as well their impact on the environment and relevant sustainability issues.

Optional Courses

Select a further 45 credit points from level 1 courses of choice.

Year 2

Compulsory Courses

Finance 2: Business Finance (FI2004)

15 Credit Points

The main aim of this course is to develop a sound understanding of fundamental principles underlying the theory and practice of finance, thereby providing a strong basis for further study of advanced finance theory and cognate disciplines. The course introduces students to important concepts in finance: principles of assets pricing, concept of risk and return, theory of interest rates and pricing fixed income securities, evaluation of investment project with a focus on embedded real options. It equips students with good analytical skills in order to understand the implications of financial decisions by understanding the fundamentals that govern them.

Land and Property Economics (PO2009)

15 Credit Points

The course will facilitate greater understanding of real estate and land markets and of the linkages between supply, demand and price. It will provide explanations of market behaviour and discuss activity patterns and outcomes with reference to specific property markets. Students will gain an understanding of the institutions that govern land use and real estate transactions and will develop skills to identify and interpret property market data in order to analyze market sectors and property types. Students will also make critical economic assessments of land use and planning policy and the methods of policy delivery.

Land and Property Law (PO2010)

15 Credit Points

This course considers the different legal relationships which can exist in Scotland with regard to rights in land and to outline the implications of these relationships.

This course is intended to enable participants:

  • To understand the place of land tenure in society.
  • To explain the concept of ownership and its implications in Scotland.
  • To describe the principal forms of subordinate right that can be carved out of land ownership in Scotland.
  • To identify and explain the principal restrictions on land ownership in Scotland, including planning law and land reform
Financial Markets and Regulation (FI2501)

15 Credit Points

This course provides students with an understanding of the financial system, primarily from a UK perspective, introducing students to the reasons for, and nature of, financial markets and institutions before moving on to explore the need and importance of financial regulation, and investigating the causes and consequences of the recent global financial crisis. The course will introduce students to a variety of topics including the role of wholesale and retail banks, non-bank financial institutions, the debt and equity markets, and the derivative markets; market efficiency, UK and international regulation, consumer protection and market abuse.

Understanding Statistics (PO2508)

15 Credit Points

This course aims to provide students with an understanding of statistical concepts and methods relevant to accounting, management, finance, real estate and economics. The course is intended to enable students

i) To understand the principles of descriptive statistics, index construction, statistical inference, correlation, regression and time series analysis

ii) To apply statistical techniques to the analysis of accounting, business and economic issues and interpret findings

iii) To identify important sources of data in accounting, business and economics

Principles of Property Valuation (PO2509)

15 Credit Points

This course deals with the detail of why property requires to be valued and how the valuation process operates in the UK by way of the implementation of the RICS “Red Book”. The five property valuation methods are discussed via a series of lectures supplemented by tutorials/workshops in which valuation problem-solving tasks are discussed, with a focus on the investment method and the critique of traditional approaches. Practical valuation exercises are undertaken, which include the inspection and measurement of property and the analysis of comparable evidence.

Optional Courses

Select a further 30 credit points from courses of choice.

Year 3

Compulsory Courses

Students are required to undertake either International Finance Management (FI3503) or Advanced Corporate Finance (FI3505). These courses run in alternate years, with FI 3503 running in Academic Year 2022/23.

Finance 3: Corporate Finance (FI3004)

30 Credit Points

This course introduces students to a number of areas of corporate finance including examining capital structure theory, project valuation models, the financing decisions of the firm, and corporate restructuring (including reorganisations and mergers and acquisitions). The main aim of the course is to equip students with good analytical skills in order to understand the implications of corporate financing decisions by understanding why companies behave the way they do with respect to financing choices and how this interacts with the real world financial markets, and to enable students to understand the theoretical underpinnings of corporate finance theory.

Applied Valuation (PO3006)

30 Credit Points

This course applies the principles of valuation taught at level 2 to more complex real world examples. Topics covered include rent reviews, compulsory purchase, property investment, property development and national and local taxation. Numeracy and analytical skills are further developed along with expertise in the use of Excel. In addition, the course also covers professional surveying practice, including ethics, and stimulates students to consider their career path by requiring students to prepare a CV and prepare for a mock interview.

Real Estate Development & International Investment (PO3513)

30 Credit Points

The course covers two key aspects of real estate, namely development and international investment. While development is an intrinsically local activity, the drivers of demand to occupy and invest in real estate are increasingly global. Thus, the course first deals with the process of development and then provides the context of globalisation of economies and real estate markets, which underlies the demand for real estate occupation and investment. The course involves a UK field trip.

International Financial Management (FI3503)

30 Credit Points

Multinational corporations face a range of risks in an international setting, including exchange rate, political and financing risk. The course considers the complexities of financial management in these settings. It aims to develop students understanding and ability to apply finance theory to international financial management. This course will develop student skills in the analysis of issues including globalisation and the multinational corporation; foreign exchange markets and exchange rate determination; international capital markets, debt and banking; risk management and foreign currency derivative securities

Year 4

Compulsory Courses

Real Estate Portfolio Investment (PO4007)

30 Credit Points

The course introduces students to concepts of portfolio management and recent developments regarding real estate investment vehicles. The course takes a financial economics viewpoint and places real estate investments within this context. The course covers such important aspects as securitization of initially illiquid real estate assets, the management of building portfolios and the use of index swap contracts for risk management purposes. The course discusses also real option theory and applies it to land development and the pricing of lease contracts.

Optional Courses

Plus select one of the following:

  • Empirical Methods in Finance (FI4003)
  • Financial Strategy and Investment Management (FI4002)

Select one of the following dissertation options:

  • Real Estate Dissertation (PO4006)
  • Real Estate Dissertation (PO4506)
  • Dissertation in Finance (FI4501)

NOTE: If you choose to take Dissertation in Finance (FI4501) you must also choose the following:

  • Housing Economics (PO4508)

Plus further credit points from level 4 courses in Finance and Real Estate to gain a total of 60 credits in each discipline.

Empirical Methods in Finance (FI4003)

30 Credit Points

This course aims to provide an overview of quantitative methods needed to conduct empirical research in finance and financial economics. The course is intended to enable students

i) To develop knowledge and understanding of the theoretical practical approaches to quantitative methods in finance.

ii) To develop the practical quantitative skills to equip students for dissertations in finance and for on-going work in the finance area.

iii) To develop intellectual skills by understanding of the appropriate use of statistical techniques for various financial problems.

iv) To develop the ability to write extended research reports on original topics in finance

Financial Strategy and Investment Management (FI4002)

30 Credit Points

Covering the intellectually and commercially fertile ground at the accountancy/finance interface. Considering financial analysis from both theoretical and practical angles. Do you need to understand financial reporting to be an investor? How should we assess the success of an acquisition? Why do accountants think mergers don’t exist? How do companies decide on financing strategies? Does corporate governance and ethics really matter – do share prices react to it? These are some of the questions we will address alongside using DataStream and the ThomsonReuters Eikon system. The course might give you some ideas for your dissertation too.

Real Estate Dissertation (PO4006)

30 Credit Points

The dissertation can be a rewarding, interesting and challenging exercise, with a process that differs from taught courses. With self-directed study, you are introduced to the process of independent research starting with finding a topic that is both academically interesting and can be covered in the given time frame. In addition to utilising skills acquired during previous years of study, it is an opportunity to develop new skills useful for future employment, such as writing reports. Your dissertation will be judged on evidence of competence in independent research. The greater the degree of competence, the higher the mark awarded.

Real Estate Dissertation (PO4506)

30 Credit Points

The dissertation can be a rewarding, interesting and challenging exercise, with a process that differs from taught courses. With self-directed study, you are introduced to the process of independent research starting with finding a topic that is both academically interesting and can be covered in the given time frame. In addition to utilising skills acquired during previous years of study, it is an opportunity to develop new skills useful for future employment, such as writing reports. Your dissertation will be judged on evidence of competence in independent research. The greater the degree of competence, the higher the mark awarded.

Dissertation in Finance (FI4501)

30 Credit Points

All Accountancy and Finance students must undertake a dissertation. Students taking a joint degree may undertake the dissertation in either discipline, but not both. It is designed to show that you are able to:

Carry out a substantial piece of research on a chosen subject without close supervision

Critically analyse and evaluate work carried out by others

Reach your own conclusions based upon your analysis and evaluation of relevant evidence, whether this is prior research only or prior research coupled with your own research.

Write-up the results of your work in a clear, coherent and logical way.

Housing Economics (PO4508)

30 Credit Points

Housing is a necessity and of interest to economists, policymakers, and investors alike. In this course, students will gain an understanding of the micro and macro-economic dimensions of housing markets. The course will also discuss the many different ways in which governments intervene in housing markets, such as land use regulation, rental law, and social housing support. The positive and normative aspects of these interventions will be discussed. The course has a comparative perspective throughout and discusses housing markets, regulation, and outcomes at hand of the UK, the US and Germany.

We will endeavour to make all course options available; however, these may be subject to timetabling and other constraints. Please see our InfoHub pages for further information.

How You'll Study

Learning Methods

  • Individual Projects
  • Lectures
  • Research
  • Tutorials

Assessment Methods

Students are assessed by any combination of three assessment methods:

  • Coursework such as essays and reports completed throughout the course.
  • Practical assessments of the skills and competencies they learn on the course.
  • Written examinations at the end of each course.

The exact mix of these methods differs between subject areas, years of study and individual courses.

Honours projects are typically assessed on the basis of a written dissertation.

Why Study Finance and Real Estate?

Why Finance

  • An excellent teaching environment, committed to the needs of industry, which integrates research into teaching, enables transferable skills and develops intellectual skills on a range of contemporary financial challenges.
  • The spectacular, award-winning Sir Duncan Rice Library, with brilliant study facilities, state-of-the-art learning technology, and an extensive collection of reference books, journals and other media for finance and business studies.
  • A packed campus programme of student, public and business events, and the annual May Festival which attracts public figures, politicians, business leaders, and broadcasters to discuss and debate critical challenges in our world today.
  • Enterprise Campus, a new initiative to nurture entrepreneurial skills and support students wanting to progress their own business ideas.
  • Our location in the main European centre for the oil and gas industry, where multinational firms and financial services all have offices in the city, and close links to our teaching programmes.
  • Experience the Bloomberg Terminal, a software platform that provides real-time and historical data, market-moving news and analytics to help leading business and financial professional make better informed investment decisions.

Why Real Estate

  • Successes include the prestigious ‘Cornell International Real Estate Competition’ in New York, with Aberdeen students finishing 4th out of 17 universities, beating rivals from Cambridge, Australia, Hong Kong, USA and Canada.
  • The spectacular, award-winning Sir Duncan Rice Library, combining a brilliant study environment with state-of-the-art technology and a first-class collection of reference works in business and management.
  • A packed campus programme of student, public and business events, and the annual May Festival which attracts internationally acclaimed public figures, business leaders, authors and broadcasters to debate critical challenges in the world today.
  • Enterprise Campus, a new initiative to nurture entrepreneurial skills and support students wanting to progress their own business ideas.
  • Experience the Bloomberg Terminal, a software platform that provides real-time and historical data, market-moving news and analytics to help leading business and financial professional make better informed investment decisions.

Entry Requirements

Qualifications

The information below is provided as a guide only and does not guarantee entry to the University of Aberdeen.


General Entry Requirements

2024 Entry

SQA Highers

Standard: AABB

Applicants who have achieved AABB (or better), are encouraged to apply and will be considered. Good performance in additional Highers/ Advanced Highers may be required.

Minimum: BBB

Applicants who have achieved BBB (or are on course to achieve this by the end of S5) are encouraged to apply and will be considered. Good performance in additional Highers/Advanced Highers will normally be required.

Adjusted: BB

Applicants who achieve BB over S4 and S5 and who meet one of the widening access criteria are guaranteed a conditional offer. Good performance in additional Highers/Advanced Highers will be required.

More information on our definition of Standard, Minimum and Adjusted entry qualifications.

A LEVELS

Standard: BBB

Minimum: BBC

Adjusted: CCC

More information on our definition of Standard, Minimum and Adjusted entry qualifications.

International Baccalaureate

32 points, including 5, 5, 5 at HL.

Irish Leaving Certificate

5H with 3 at H2 AND 2 at H3.

PLEASE NOTE: National 5/ Standard Grade/ GCSE (or equivalent) in Mathematics / Applications of Mathematics is required in addition to the requirements noted above.

2025 Entry

SQA Highers

Standard: BBBB

Applicants who have achieved BBBB (or better), are encouraged to apply and will be considered. Good performance in additional Highers/ Advanced Highers may be required.

Minimum: BBB

Applicants who have achieved BBB (or are on course to achieve this by the end of S5) are encouraged to apply and will be considered. Good performance in additional Highers/Advanced Highers will normally be required.

Adjusted: BB

Applicants who achieve BB over S4 and S5 and who meet one of the widening access criteria are guaranteed a conditional offer. Good performance in additional Highers/Advanced Highers will be required.

Foundation Apprenticeship: One FA is equivalent to a Higher at A. It cannot replace any required subjects.

More information on our definition of Standard, Minimum and Adjusted entry qualifications.

A LEVELS

Standard: BBC

Minimum: BCC

Adjusted: CCC

More information on our definition of Standard, Minimum and Adjusted entry qualifications.

International Baccalaureate

32 points, including 5, 5, 5 at HL.

Irish Leaving Certificate

5H with 3 at H2 AND 2 at H3.

PLEASE NOTE: National 5/ Standard Grade/ GCSE (or equivalent) in Mathematics / Applications of Mathematics is required in addition to the requirements noted above.

The information displayed in this section shows a shortened summary of our entry requirements. For more information, or for full entry requirements for Arts and Social Sciences degrees, see our detailed entry requirements section.


English Language Requirements

To study for an Undergraduate degree at the University of Aberdeen it is essential that you can speak, understand, read, and write English fluently. The minimum requirements for this degree are as follows:

IELTS Academic:

OVERALL - 6.0 with: Listening - 5.5; Reading - 5.5; Speaking - 5.5; Writing - 6.0

TOEFL iBT:

OVERALL - 78 with: Listening - 17; Reading - 18; Speaking - 20; Writing - 21

PTE Academic:

OVERALL - 59 with: Listening - 59; Reading - 59; Speaking - 59; Writing - 59

Cambridge English B2 First, C1 Advanced or C2 Proficiency:

OVERALL - 169 with: Listening - 162; Reading - 162; Speaking - 162; Writing - 169

Read more about specific English Language requirements here.

Fees and Funding

You will be classified as one of the fee categories below.

Fee information
Fee category Cost
RUK £9,250
Tuition Fees for 2024/25 Academic Year
EU / International students £20,800
Tuition Fees for 2024/25 Academic Year
Home Students £1,820
Tuition Fees for 2024/25 Academic Year

Scholarships and Funding

Students from England, Wales and Northern Ireland, who pay tuition fees may be eligible for specific scholarships allowing them to receive additional funding. These are designed to provide assistance to help students support themselves during their time at Aberdeen.

Additional Fees

  • In exceptional circumstances there may be additional fees associated with specialist courses, for example field trips. Any additional fees for a course can be found in our Catalogue of Courses.
  • For more information about tuition fees for this programme, including payment plans and our refund policy, please visit our InfoHub Tuition Fees page.

Our Funding Database

View all funding options in our Funding Database.

Careers

There are many opportunities at the University of Aberdeen to develop your knowledge, gain experience and build a competitive set of skills to enhance your employability. This is essential for your future career success. The Careers and Employability Service can help you to plan your career and support your choices throughout your time with us, from first to final year – and beyond.

Accreditation

This degree holds accreditation from

Our Experts

Programme Leader
Selma Mairi Carson

Information About Staff Changes

You will be taught by a range of experts including professors, lecturers, teaching fellows and postgraduate tutors. Staff changes will occur from time to time; please see our InfoHub pages for further information.

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Get in Touch

Contact Details

Address
Student Recruitment & Admissions
University of Aberdeen
University Office
Regent Walk
Aberdeen
AB24 3FX

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