1. PURPOSE OF THE PROGRAMME

The programme aims to equip students with sound conceptual, technical, and analytical and communication skills that are required to succeed in the Economics and investment profession. Students will be expected to exercise their analytical abilities and develop effective verbal and written communication skills.

2. ENTRY REQUIREMENTS

To qualify for entry into the Master of Commerce Financial Economics and Investment degree programme, a student should have an honours  degree in Economics, Financial Economics and Investment, Economics and Econometric Modelling, Agricultural Economics, Banking & Finance, Fiscal Studies or related field.

3. PROGRAMME CHARACTERISTICS

3.1 Areas of study: Microeconomics, macroeconomics, public finance and debt management, mathematics and statistics, econometrics, International trade, monetary economics, applied financial econometrics, financial engineering, agriculture, ecology and environmental issues as well as contemporary issues in development.

3.2 Specialist focus:  Financial Economics and Investment

3.3 Orientation: Research and innovation-oriented. Teaching and learning are professionally oriented and focused on practical aspects.

3.4 Distinctive features: The programme builds the research-technology-innovation continuum and focuses on knowledge development and application using a student-centred approach.

CAREER OPPORTUNITIES AND FURTHER EDUCATION

Financial planners/ advisors, Investment bankers, Equity researchers, Financial analysts, Economists and stock brokers.

Holders of the Master of Commerce in Financial Economics and Investment Degree are eligible for Doctoral studies in specialised areas of Economics, Finance, and Investment.

• PROGRAMME STRUCTURE

 

Level 1 Semester 1

Code Module Description Credits

MECO731 Advanced Microeconomic Analysis 18

MECO737 Advanced International Economics 18

MECO754 Applied Financial Econometrics 18

MECO734 Advanced Monetary Economics 18

MECO735 Investment Analysis & Corporate Finance 18

 

Level 1 Semester 2

Code Module Description        Credits

MECO739 Advanced Macroeconomic Analysis 18

MECO756 Agribusiness Finance and Risk Management 18

MECO753 Blockchain and Crypto-currencies 18

MECO755 Financial Engineering 18

MECO852 Public Finance and Debt Management 18

 

 

Level 2 Semester 1

Code Module Description        Credits

MECO752 Advanced Financial modelling and forecasting         18

MECO832 Mineral Economics 18

MECO845 Dissertation/Research Project 90

Electives (Choose any 1)

MECO833 Contemporary Issues in Economic Development 18

MECO740 Environmental & Ecological Economics 18

MECO738 Health Economics 18

MECO851 Sustainable Finance and Investment 18

 

MODULE SYNOPSES

MECO731 Advanced Microeconomic Analysis

The module emphasizes on topics such as choice under uncertainty, economics of information, game theory, general equilibrium analysis, and welfare economics. Emphasis will be on application of microeconomics in analysing real-world problems.

 

MECO734 Advanced Monetary Economics

This module presents a comprehensive overview of the pertinent issued in advanced monetary economics. It enables students to acquire sufficient knowledge of monetary theory and policy. It focuses on the dynamic relationships that exist between monetary aggregates and the macro-economy. Topics covered include money in models of economic growth, money supply functions, portfolio choice, and money in the open economy, central banking and monetary policy.

 

MECO735 Investment Analysis & Corporate Finance

The module focuses on advanced theoretical and empirical aspects of corporate financial management and capital market behaviour. It provides students with techniques for evaluating investments from both the perspectives of individual assets as well as portfolios. Techniques for investment analysis focus on maximising expected returns while minimising risk. Topics covered include modern portfolio theory, equilibrium capital models, capital budgeting, discounted cash flow valuation models, capital structure and dividend payout decisions.

 

MECO737 Advanced International Economics

This module takes a theoretical and empirical approach to the study of international trade and investment. It focuses on core trade theories and empirical applications based on these theories. Furthermore, it dwells on recent theories that focus on the firm’s decision to export and the role of heterogeneity in firm productivity on patterns of trade. Other topics will focus on multinational activity and investment abroad, including different types of foreign direct investment. The focus will also be on institutional frictions and their effects on patterns of trade and investment.

 

MECO752 Advanced Financial Modelling and Forecasting

The module is designed to help students with ways of preparing and determining expectations of future results in companies/institutions, taking forecast assumptions and making calculations using a company’s financial statements. It provides the required skills in financial mathematics and statistics. The module will cover topics as matrix algebra, differential calculus, probability theory, descriptive statistics, hypothesis testing, regression analysis, forecasting and modelling volatility among others.

 

MECO739Advanced Macroeconomic Analysis

The module explores recent developments in macroeconomic theory and relationships to economic policy. It covers the modern interpretations to Keynes, overlapping generations models adopting the dynamic and general equilibrium analysis. The issues of gap models, IMF model, World Bank Model, neoclassical growth theories and endogenous growth theories are also covered. The content also extends to business cycle theories, global economic crises, open economy analysis, balance of payments approaches and theories of exchange rate determination as well as currency crises.

 

MECO753 Blockchain and Crypto-currencies

This module covers how crypto-currencies work, how to use them, their level of security and how they differ from fiat currencies. The module will include economics and financial topics such as game theory and cryptography, bitcoin and theories of money, wallets and exchange, pricing, initial coin offerings (ICOs,) risk analysis and volatility, market manipulation and trading instruments and basic strategies as well as other aspects such as legal and regulatory issues, such as data protection, privacy and securities.

 

MECO754 Applied Financial Econometrics

The module provides a practical but strong theoretical approach to econometrics in the field of finance. The module will extend students’ knowledge of financial econometrics by enabling them to assess advanced research literature in finance. Students will be equipped with skills that will enable them to develop, conduct, and evaluate econometric analyses for practical investment and portfolio decisions. The module will cover areas that include analysing financial returns, modelling financial time series, estimation of risk frontier, workings of asset pricing models, ARCH and GARCH Models and behavioural Finance empirical foundations.

 

MECO755 Financial Engineering

The complexity of the financial world requires understanding of financial engineering. This module is meant to inculcate, in the students, the mathematical techniques to solve financial problems. This involves knowledge from various disciplines such as statistics, applied mathematics, economics and computer science, among others. Areas of focus may include, but are not limited to, cashflow engineering, interest rate swap engineering and options engineering. Hedging strategies and pricing tools and approaches must also be known.

 

MECO756 Agribusiness Finance and Risk Management

The module focuses on providing learners with skills to use finance and investment tools in agricultural development. Learners will get insights on how investors approach the agricultural sector and how to alleviate constraints as well as managing risks. Topics in the module include finance and investment in agriculture, trading in agribusiness, rural investment, agri-business lending and risk management for agricultural investment.

 

MECO852 Public Finance and Debt Management

The module looks at the management of domestic and external public debt. Sound public debt management is important, especially in low- and middle-income countries (LMICs) that are highly indebted. The issues covered include public expenditure theory, taxation theory, debt crises, economic and social impact of debt crises, public debt sustainability, debt restructuring and rescheduling.

MECO833 Contemporary Issues in Economic Development

The module aims to provide a thorough review and critical assessment of contemporary issues in economic development, covering the main analytical approaches, empirical evidence and policy issues in development economics. Topics to be covered include an overview of contemporary issues in economic development, the Growth-Inequality-Poverty triangle, rural development; rural-urban migration, industrialization and urban labour market informality; and population issues (demographic trends and human capital development).

MECO845 Dissertation/Research project

The programme has the dissertation as an integral component where students are expected to use analytical methodology in handling a topic in any of the chosen fields of investment and financial economics. Students are required to defend their dissertations in a viva voce. The final mark for the dissertation is composed of the viva voce and the mark awarded for the submitted dissertation. The length of the dissertation should not be less than 15000 words (excluding preliminary pages and appendices).

MECO851 Sustainable Finance and Investment

The module covers topics on financing investments that promote environmentally sustainable development. Topics to be covered include fundamentals of sustainable finance, the sustainable finance market, green, social and sustainable bonds, responsible investment, environmental and social risk analysis (ESRA), corporate eco-efficiency in financial institutions, sustainable finance for savings and credit cooperatives, climate change: risk and opportunities for finance sector

MECO738 Health Economics

The module covers the following topics: demand and supply of health services, systems of health care delivery, health care financing, health policy and planning, health sector reforms, and economics of disease.

MECO740 Ecological & Environmental Economics

Selected issues such as market failures, externalities, pollution control, preservation of natural resources, sustainable development, common property resources, global environmental & natural resources, conservation of renewable &non-renewable resources; evaluation techniques.

MECO832 Mineral Economics

The module is expected to cover the following aspects of mineral economics; environmental impact of mining, resource curse, mining project evaluation criteria, mine taxation, ore reserve estimation, Zimbabwe mining policy, sustainable extraction of mineral resources, and market for minerals which includes the competitive and monopoly markets, contribution of mining to economic growth, the welfare implications of mining among others.