Elective Module · 2026

Macro-Finance

Saïd Business School · MSc Financial Economics

Macro-Finance: Theory and Empirical Methods is an elective in the MSc Financial Economics programme. The course studies how monetary policy, financial markets, and global financial linkages interact, with emphasis on empirical methods used in current research.

Session Roadmap

Current module structure

Part I

The Only Game in Town: Central Banking

Session 1 · Central Bank Communication and the Role of Expectations

Communication design, expectations, and policy transmission.
Sessions 2–3 · High-Frequency Analysis: News, Surprises, Financial Reactions

Event-study methods and market reaction measurement.
Sessions 3–4 · Finance Meets Data Science: Extracting Information from Text

Text-as-data applications in central-bank and macro-finance research.

Part II

Dancing Together: Globalisation, Risk Sharing, Spillovers

Session 5 · Financial Globalisation and Spillovers

Cross-border financial linkages, synchronisation, and crisis transmission.

Part III

International Capital Mobility & Controls

Session 6 · International Capital Market Integration

Capital flows, exchange rates, and macroeconomic implications.
Session 7 · Capital Controls

Policy rationale, effectiveness, and empirical evidence.

Part IV

Quantitative Easing, Tightening & Beyond

Session 8 · Unconventional Monetary Policy

Balance-sheet tools, transmission channels, international spillovers.

Materials & Access

Current delivery policy

Course Operations

This public page is a concise module overview. Full reading lists, classroom files, and assignment logistics are maintained in Canvas for enrolled students.

Reading Structure Canvas