Overview

The MSc in Energy, Trade & Finance will close to new applications on 28 May.

There are still places available on the MSc in Shipping, Trade & Finance and the MSc in Supply Chain, Trade & Finanace.

The City of London is the centre of the global finance, maritime, insurance and commodity trading industries.

So, Cass is perfectly placed to help you maximise the many opportunities in these areas. And each of these Masters degrees will give you the skills necessary to operate at the decision-making levels of activities such as shipping, transport, logistics, supply chain management and related sectors and industries.

A global centre

The courses are offered through the Costas Grammenos International Centre for Shipping,Trade and Finance.

The MSc courses offered by the Centre reflect the Cass philosophy: advanced, technically challenging programmes that incorporate applied, real-world scenarios.

Students make presentations to lecturers, visitors from the City and other members of the class. This provides you with invaluable practice in using, applying and expressing complex subject matter clearly and concisely to a business audience.

Group work, on the preparation of case studies and a business plan, consolidates the acquired knowledge and also builds the 'soft' skills essential to any future career. From a total of over 1,200 graduates to date, all have taken their place in the international business community. 

Individual Appointments

If you would like to arrange an individual appointment to discuss this programme please email: sarah.darbyshire.1@city.ac.uk

Course content

We review all our courses regularly to keep them up-to-date on issues of both theory and practice. Consequently, there may be some change to the detailed content of the modules, and occasionally to module titles.

To satisfy the requirements of the degree programme students must complete:

  • ten core courses

and

  • five electives

or

  • one elective and a Business Research Project
I chose Cass as I wanted an non-American perspective on the Energy business. I especially enjoyed the energy economics module which was taught in the second term. It was taught by industry professionals who provided an alternative view to the academic perspective.'
Elizabeth Williamson, MSc in Energy, Trade and Finance
These Masters programmes all start with two compulsory induction weeks, focused mainly on:
  • An introduction to the Cass Careers offering with a focus on key skills and attributes that employers are looking for.  The annual MSc Careers Fair at this time also provides the opportunity to meet over 60 companies who are recruiting across many sectors including finance, energy, insurance, real estate, shipping, strategic management and internal auditing.
  • a refresher course of basic financial mathematics, statistics, computing and electronic databases.

Term 1

Five core modules (30 hours each)

International Economics (For STF and SCTF students only)

Explores the economic relationships between nations; international trade relations and benefits; the effects of barriers to trade and income distribution; trade policy; and international monetary relations. The significance of external influences on fiscal and monetary policy, the balance of payments and the theory and evidence of exchange rate determination all form part of this module, which also looks at the response of the exchange rate to monetary and other shocks, and examines the case for fixed exchange rates.

Energy Economics (For ETF students only)

This module provides the fundamental knowledge of energy market economics, upon which the rest of the degree is built. The aim is to provide the student with an energy-specific toolkit, which will allow him/her to understand the broader economic concepts and issues in this sector, before dealing with the detailed business and finance issues which are covered in the other three energy-specific modules.

Topics covered include: hydrocarbon supply and demand; microeconomic organisation of oil, natural gas, coal and electricity markets; renewable energy; climate change and other energy policy issues.

Managerial Accounting

Introduces the principles of accounting and finance in business and the main techniques in management accounting, planning and control. Covers the interpretation and use of annual reports and accounts, financial and ratio analysis, and their use for managerial decision-making, and budgetary control systems.

Principles of Finance

As a first course in finance, addresses the key issues involved in valuing assets and liabilities on the basis of their future earning power. Students are introduced to the problems involved in specifying risky future earnings and the appropriate rate at which to capitalise them. Payoff asymmetry is examined, and options are valued with the help of both the binomial and Black-Scholes models.

Quantitative Methods

Following the induction course, it covers descriptive and inferential statistics, as well as regression analysis techniques. Develops skills that are essential for other modules and the dissertation and is designed to ensure relevance to everyday business problems.

Shipping Economics* (For STF students only)

Focuses on the operational environment of the bulk-shipping sector. Subsequently discusses extensively the microeconomic structure of the four main markets (freight, second-hand, shipbuilding and demolition) in dry bulk and tanker shipping, together with the operational characteristics, international regulations and policies which affect these highly competitive, volatile, but nevertheless exciting industries. Continues with an introduction to liner and container shipping economics and concludes with a discussion of the principles of modern supply chain logistics, of which bulk shipping forms an integral part.

Supply Chain Economics (For SCTF students only)

Sets the foundations for understanding the industry by outlining its basic economic structure and organisation in a series of lectures. Topics for discussion include the significance and role of transportation in society; transport demand parameters; |the regulatory framework and transport policies; transport geography and physical location; and the issues raised by vehicle and infrastructure provision. In the spirit of the international scope of this course, examples will be drawn from several regions around the world, with particular emphasis on Britain, Europe and developing countries. Concludes with a series of lectures introducing the concepts of logistics and supply chain management.

Oil & Energy Transportation & Logistics (For ETF students only)

This module will equip students with the tools necessary to think skilfully and maturely, but also independently on matters relating to the oil and energy transportation business and industry. Students will develop an understanding of the economic structure of the tanker shipping industry, LNG and LPG shipping, and pipeline and land transportation networks. Students will also develop an understanding of the industry's cost structure and how prices are set and revenue is earned by tanker, LNG, LPG and pipeline companies.

*Sponsored by Thanassis and Marina Martinos

Term 2

Five core modules (30 hours each)

Advanced Quantitative Methods

Builds on the knowledge acquired in Quantitative Methods in Part one and focuses on skills required for advanced analysis in areas such as risk management and forecasting.

Corporate Finance

Builds on the subject matter learned in Principles of Finance in Part one and focuses on the decisions undertaken by the modern industrial corporation, with respect to such areas as expansion, restructuring, capital formation and acquisitions. Applying theoretical concepts to case studies, the student will extend his or her ability to formalise, structure and analyse capital expenditures and investments, including how they are financed and how the risks thereby arising are managed. Topics include mergers and acquisitions; restructuring; investment banking; cost of capital; and the use of futures and options to manage risk.

Financial Markets

Covers the global economic and financial environment within which business corporations operate. Globalisation and integration of markets for debt, equity and risk management have created new opportunities in the capital formation process, but pose great difficulties in navigating successfully. Where should capital be raised? How does one manage the risks from certain currencies and certain sovereign regions? In the context of the globalisation of capital markets, considers the structure, functions and performance of financial markets on an international basis and how they facilitate real economic activity; and the role of institutions operating as global intermediaries within these same markets.

International Commodity Trade (for STF & SCTF students only)

Discusses the theory and practice behind the development of modern patterns of trade, focusing on the world's major bulk commodities, such as grains, petroleum, and ferrous and non-ferrous ores. Considers in depth the distinctive microeconomic characteristics of key commodities, such as storability, perishability and seasonalities; pricing mechanisms and methods of adjustment; the role of key producers and key markets in shaping market conditions.

Global Supply Chain Management (for SCTF students only)

Building on the knowledge gained in Supply Chain Economics, this module studies the process of planning, implementing and controlling the efficient, effective flow and storage of goods from point of origin to point of consumption.Using, inter alia, computer-based simulation exercises, discusses such topics as supply chain management, inventory control, multimodal transport management, global distribution, and quality and value in logistics. Case studies are used throughout to illustrate the planning of integrated transport systems, and also to strengthen an appreciation of logistics as a strategic tool. Visits by industry leaders illustrate best practice, affording the opportunity for discussion of timely issues.

Shipping Investment and Finance* (for STF students only)

The skills developed in both Principles of Finance and Corporate Finance are applied to the shipping industry while introducing several new and important concepts to develop the ability and the analytical tools to make rational shipping investment and finance decisions. Making extensive use of case studies, areas covered include the fundamental principles of shipping investment and finance; vessel investment and disposal markets; investment feasibility studies; bank credit policy, bank credit analysis and proposals; other sources of shipping finance such as shipyards and capital markets; and risk management in shipping.

Oil & Energy Trading and Economics (for ETF students only)

This module prepares you for a career in the oil and energy industries. It consists of a combination of the following key aspects of the energy industry. Petroleum - Exploration, production history and cost; Basic hydrocarbon chemistry; Refining economics; Effect of product quality and the environmental issues. Energy - Geopolitcal role of oil, gas and coal; Supply and trading patterns and economics; Demand structure and inter relationship of the energy markets; The role of finance, Price risk management and controls.You will progress from an understanding of the exploration and development of oilfields to the economic exploitation of the energy markets through refining, gas distribution and power generation, to marketing and trading and the role of finance throughout the supply chain. The integration with the other aspects of the course will lead to an understanding of short term trading, project financing, shipping economics and the use of systems and instruments to risk manage the process both in the short and long term context

Power Markets (for ETF students only)

This module covers in some detail the power generation sector and supplements (and expands) the material covered in the Oil & Energy Trading module. The aim is to provide the student with a deeper understanding of the power markets, from generation, to pricing and all other pertinent issues. It also aims to put renewables in context, as their output feeds directly into these markets and supplements (or perhaps competes with) conventional hydrocarbons.Topics covered include: power generation from exhaustible and renewable sources; transmission, distribution, metering; regulation, liberalisation and climate change issues; market structures for electricity; pricing, risks and their management.

*Module sponsored by the American Bureau of Shipping (ABS)

Term 3

Five electives (18 hours each)

OR

One elective and a BusinesWQs Research Project

Electives

You may choose from a wide variety of electives. For example:

  • 6 Sigma for Managers
  • Air Transport
  • Chartering
  • Commodity Derivatives & Trading
  • Container and Intermodal Transport
  • Dry Cargo Chartering
  • E-commerce and IT
  • Empirical Finance
  • Energy & Weather Derivatives
  • Equity Investment Management
  • Finance in Emerging Markets
  • Fixed Income Analysis
  • Forecasting Investment Markets
  • Futures
  • International Banking
  • Marine Insurance
  • Mergers, Acquisitions and Divestments
  • Options
  • Project Finance
  • Retail Supply Chain Management
  • Risk Management
  • Shipping Innovation*
  • Shipping Law
  • Shipping Risk Management
  • Supply Chain Finance
  • Supply Chain Modelling
*Module sponsored by the American Bureau of Shipping (ABS)

Research Methods module

This compulsory module trains students to undertake independent research either in the context of a single organisation or by using third-party sources. It provides the necessary tools and skills to initiate, research and write up a business project and includes training in research methodology, availability of data sources, project writing, time-management and presentation skills. These skills will be invaluable to students in their future career whether or not they choose to complete a project.

Accreditations

MSc in Shipping, Trade and Finance

The MSc in Shipping, Trade and Finance is validated by the Institute of Chartered Shipbrokers consequently, students successful in the courses of:

  • International Commodity Trade
  • Shipping Economics and Policies
  • Shipping Law
  • Marine Insurance
will be granted exemption from the following examinations of the Institute:
  • Economics of Sea Transport and International Trade
  • Introduction to Shipping
  • Law of Carriage of Goods by Sea
  • Marine Insurance.

MSc in Supply Chain, Trade and Finance

The MSc in Supply Chain, Trade and Finance is validated by the Chartered Institute of Logistics and Transport with full exemption from the educational requirement for Chartered Membership. It is also accredited by the Chartered Institute of Purchasing & Supply

MSc in Energy, Trade and Finance

The MSc in Energy, Trade and Finance is accredited by The Energy Institute 

MSc Research Project

Students have the option of studying five specialised electives in term three to give them a breadth of subject matter. Alternatively if students would like to study one particular area of interest in depth they have the option of taking one elective and completing a Business Research Project, which in some cases may be completed in partnership with a sponsoring organisation.

The Project will be of approximately 8,000 words. This offers an opportunity to specialise in a contemporary finance topic related to students' future careers. The Project should be based on independent research either in the context of a single organisation or using third-party sources.

Students are encouraged from the start of the course to think about a topic for their Project. A member of academic staff supervises the project, and the student may choose whom they would like to work with. The Project must be submitted by the end of August. Company sponsored projects are encouraged and a number of such projects may be available.

Many students use this opportunity to do a project with a company they might want to work for. This gets their foot in the door and can lead to permanent employment post programme, whilst earning course credit. Student research projects are processed and managed jointly by the MSc Course Office team and the student's Course Director.

Some recent projects:

  • The role of human error in tanker accidents
  • US-EU air routes and the 'open skies' effect
  • Analysis of financial vehicles for the fleet expansion of a small shipping company
  • The EU emissions trading scheme in context with the Kyoto Mechanisms and the price determinants of EU allowances
  • Supply Chain in the Fashion industry: A case study of ABC Analysis in Lussile S.A.
  • Russia, the West, and Energy geopolitics in the CIS: A new tournament in Shadows
  • Corporate social responsibility: ways of evaluating carbon footprint
  • The changing environment of the vehicle fuel market: a tentative look at the future of gasoline
  • The All-Cargo Airlines Consolidation in China and Its Impacts on Airline Competition
  • The Impact of a Suez Canal Closure on the UK Supply Chain
  • Investigation into the shortage of officers on merchant ships
  • Does investing in hedge funds ensure better risk & return
  • Risks and challenges in global sourcing and outsourcing: a practical approach to meet demand
  • Recent massive IPO's in Greek Shipping: A theoretical and empirical analysis
  • Operational expansion of Thessalonica's container terminal and procurement
  • The issues of clean development mechanism in developing countries: a case study on Nigeria
  • The Effects of the Suez Canal Expansion
  • The Kingstone container terminal: will it become a mega-hub?
  • Transhipment challenges in the Mediterranean region

Entry requirements

English Requirements

Every year we welcome students from around 100 different nations to study with us here at Cass. It is essential that all students have an excellent command of English in order to participate fully in the collaborative learning process. We therefore require all students who have not previously studied in English to sit an IELTS or TOEFL exam. If you are not a native English speaker but have studied or are studying in English at degree level, please submit a copy of your most recent English language test along with your application.

IELTS

The required IELTS level is an average of 7.0 with a minimum of 6.5 in writing.

TOEFL

For TOEFL we require 107 (Internet Based Test)

Our TOEFL code is 7650, department code 02

We do not offer a pre-sessional English class as an alternative to achieving these scores. Any pre-sessional course should be viewed as a way of settling into living and studying in the UK and not as a way of topping up an IELTS or TOEFL score.

Other qualifications

To be accepted on to this course you will need a good Bachelors degree, usually a UK 2.1 or above or the equivalent from an overseas institution. Some level of previous study in finance or quantitative methods is preferred.

Applicants will need to submit two references, one of which MUST be an academic reference. No work experience is required for this programme, but please provide details of any relevant experience that might enhance your profile.

Tuition fees and term dates

Tuition fees 2012/13

£22,500 Currency Converter

Term dates 2012/13

Compulsory Induction Period
17 September 2012 - 28 September 2012

Please note that these dates are provisional and are subject to change. Contact the MSc office before making any travel arrangements.

Term I
1 October 2012 - 14 December 2012
Term I exams
14 January 2013 - 25 January 2013

Term II
28 January 2013 - 5 April 2013
Term II exams
29 April 2013 - 10 May 2013

Term III
13 May 2013 - 28 June 2013
Term III Assessments
25 June 2013 - 12 July 2013

Business Research Project submission deadline
2 September 2013

Official Course End Date
30 September 2013

Career opportunities

The wide curriculum of these Masters courses provides a range of employment opportunities for our graduates. Many hold key positions and have eminent careers in over 70 countries in fields such as commercial banking, commodity trading, government, investment banking, law, logistics management, management consultancy, manufacturing, shipping, finance, shipping operations, stockbroking, and university research and teaching, among others.

MSc in Energy, Trade & Finance Employability

Our Graduate Destination Survey of last year's MSc in Energy, Trade & Finance cohort shows that 86% of graduates who responded are now either in work (83%) or not job seeking as they are in further study, military service etc. (3%)*

Some examples of where graduates from the 2009/10 MSc in Energy, Trade & Finance  are working are:

  • Centrica - Finance - Analyst
  • Trafigura - Refined Metals - Traffic Operator
  • ConocoPhillips - Risk - Risk Analyst
  • General Electric - Healthcare - Financial Planner & Analyst
  • Total - Trading - Market Analyst

MSc in Shipping, Trade & Finance Employability

Our Graduate Destination Survey of last year's MSc in Shipping, Trade & Finance cohort shows that 79% of graduates are now either in work (68%) or not hob seeking as they are in further study, military service etc. (11%)*

Some examples of where graduates from the 2009/10 MSc in Shipping, Trade & Finance are working are:

  • Braemar Seascope -  Derivatives - FFA Broker
  • Clarksons - Dry Cargo  - Ship Broker
  • Howe Robinson - Shipbroker / SnP Broker  - Trainee Broker
  • Maersk Broker - Dry Bulk - Panamax Broker
  • Simpson Spence and Young - Dry Cargo Chartering - Broker

MSc in Supply Chain, Trade & Finance Employability

Our Graduate Destination Survey of last year's MSc in Supply Chain, Trade & Finance cohort shows that 90% of graduates are now either in work (70%) or not job seeking as they are in further study, military service etc. (20%)*

  • Czarnikow Group Limited - Trade Finance - Trade Finance Administrator
  • KPMG - Advisory - Assistant Manager
  • Citi - Investment Banking - Analyst
  • China Merchants Securities - Equties Sales and Trading Dept - Manager
  • ExxonMobil BSC Hungary Ltd - Upstream Accounting - Controllers Analyst
*Based on 2011 survey respondents


Cass Careers Service