Programme content

The Advanced Financial Analysis MSc has two elements. First, eight taught modules over the first and second terms cover the material you will need for the core CFA Level II syllabus relating to investments and financial analysis. Additionally, students will take the Personal Development for Careers in Finance module.

These are followed by a specialist CFA dissertation stream which runs in the third term and through to September. It involves a dissertation project focusing on investment management, for which you draw on material from the CFA Level II syllabus and on relevant academic insights.

Term 1: October to December

The modules during this term are:



Students admitted without CFA Level I need to register for the CFA Level I exam in December before the start of the programme.

For students admitted without CFA Level I, Regulation and Compliance is replaced by intensive preparation for the December CFA Level I exam.

Running alongside these modules is a two-part module on Personal Development for Careers in Finance, looking at Communication and Client Management.

Term 2: January to March

Four further modules taken during this term are:

Term 3: April to September

The final module, Advanced Topics in Fund Management and Investment Analysis, includes both intensive training by Fitch Learning to prepare you for the CFA Level II exam in June and a Capstone project that forms the basis of your Masters dissertation. This project enables you to look in depth at an area of investment management practice of your own choosing. 

The dissertation is linked to CFA Level II and you will have supervision from Lancaster faculty.

Students who do not pass the CFA Level I exam in December will not study for CFA Level II. Those students will not take the Advanced Topics in Fund Management and Investment Analysis module but an alternative dissertation module.

Dissertations are submitted in September, and graduation takes place at Lancaster in early December.