This module introduces you to the underlying principles of research in modern finance, its process, philosophy, methods and methodology. It aims to develop your competency in applying statistical and econometric techniques to problems in finance. It will alert you to the assumptions and limitations that underpin these quantitative methods. At the end of the module you'll be able to decide on which techniques to apply, and able to design and execute an empirical investigation of a problem in finance.
What you will study
This module aims to equip you with the necessary theoretical, applied and critical skills to be conduct effective research in finance. The first part of this module aims to provide you with a foundation in research methods and methodology in finance. The second part aims to give you a thorough understanding of statistics to enable you to explore and interpret data as well as test hypothesis. The third part aims to introduce you to the field of econometrics which plays a central role in finance research.
The main topics covered in this module are:
- research methods and methodology in finance.
- exploring and interpreting data.
- modelling variation: probabilities, random variables, distributions.
- samples and populations.
- testing hypotheses.
- regression analysis.
- time series analysis.
It will enable you to:
- demonstrate an understanding of the philosophy and traditions of research in finance
- know how to use the finance academic literature, appreciate how academic research is conducted and produced in finance, and understand some of the principles of academic communication
- design a quantitative research methodology to explore a finance research problem
- identify relevant theories in the finance literature and to test hypotheses
- conduct time series and cross-sections regression analyses.
Vocational relevance
This module is essential if you are working, or planning to work, in the finance sector especially in financial institutions. It will also be beneficial if you work, or intend to work, outside of the finance domain such as conducting academic research in finance. This module will also be of interest if you wish to expand your knowledge and skills, in order to increase future opportunities, by acquiring key transferable skills.
Entry
All entrants to this MSc Finance must hold a BA/BSc degree awarded by a recognised university, or equivalent.
Various higher education and professional qualifications are considered equivalent to a degree. If you hold a qualification that you believe is an equivalent level to a UK degree you should contact us. The Open University Business School Masters Programme Committee is responsible for judging whether applicants’ qualifications meet the requirements for admission.
You will also need an appropriate facility in English language, sufficient to be able to work effectively at postgraduate level; generally this means capability equivalent to an International English Language Test System (IELTS) score of 6.5. To assess your English language skills in relation to your proposed studies you can visit the IELTS website. If you think either of these possibilities may apply to you, please speak to an adviser.
It is strongly recommended that you are comfortable with the use of numerical methods and use of spreadsheets. If you are unsure about these skills we suggest you familiarise yourself with illustrative numerical skills and methods prior to study. To help you decide whether you are ready, you may want to try this diagnostic quiz.
If you have any doubt about the suitability of the module, please contact our contact us.
Qualifications
B860 is a compulsory module in our:
B860 is an optional module in our:
If you have a disability
This module is delivered online and time spent using a computer and the internet will therefore be extensive. Written transcripts of any audio components are available, as are printable versions of the online text-based material. Some online material may not be available or fully accessible using a screen reader (and mathematical and scientific materials may be particularly difficult to read in this way). Alternative formats of the study materials may be available in the future. Our Services for disabled students website has the latest information about availability.
Study materials
What's included
An extensive variety of specially written resources presented in different media and designed exclusively for this module. Audio-visual material, published articles, case studies and access to The Open University library.
Computing requirements
You’ll need broadband internet access and a desktop or laptop computer with an up-to-date version of Windows (10 or 11) or macOS Ventura or higher.
Any additional software will be provided or is generally freely available.
To join in spoken conversations in tutorials, we recommend a wired headset (headphones/earphones with a built-in microphone).
Our module websites comply with web standards, and any modern browser is suitable for most activities.
Our OU Study mobile app will operate on all current, supported versions of Android and iOS. It’s not available on Kindle.
It’s also possible to access some module materials on a mobile phone, tablet device or Chromebook. However, as you may be asked to install additional software or use certain applications, you’ll also require a desktop or laptop, as described above.
Teaching and assessment
Support from your tutor
Your tutor will help you with the study material, mark and comment on your assignments and provide advice and guidance. You'll be able to contact your tutor by email, phone or via your tutor group forum on the B860 website.
Contact us if you want to know more about study with The Open University before you register.
Assessment
The assessment details for this module can be found in the facts box above.
You must use the online eTMA system to submit your tutor-marked assignments (TMAs).
Future availability
Research methods for finance starts once a year – in November. This page describes the module that will start in November 2022 when we expect it to start for the last time. A replacement module is planned for November 2023.
Regulations
As a student of The Open University, you should be aware of the content of the academic regulations which are available on our
Student Policies and Regulations website.