Financial Technology and Innovation MSc

Innovation In Finance and Accounting

The financial landscape is evolving at an unprecedented pace, driven by innovations in technology, regulation, and sustainability. This module explores the transformative forces reshaping accounting and finance, focusing on innovations across products, processes, actors, and markets. Through an interdisciplinary approach, you will gain critical insights into how traditional financial systems are being disrupted and new opportunities are emerging in this dynamic environment.

You will begin by examining the fundamental drivers of innovation, including technological advancements, globalization, and shifting societal priorities, such as the rise of Environmental, Social, and Governance (ESG) considerations. You will also cover the challenges, including concerns over regulation, security, and volatility, that accompany these innovations. In addition to understanding these technological and market innovations, you will critically assess how the roles of financial professionals are evolving.

By the end of the module, you will be equipped to critically evaluate the risks, challenges, and opportunities posed by innovations in accounting and finance. You will be encouraged to think beyond traditional frameworks, analyzing how innovations can drive efficiency, transparency, and sustainability, while also addressing new risks such as data privacy, cybersecurity, and regulatory oversight.

15 credits

Decentralised Finance and Blockchain

In this module, you will explore Decentralised Finance (DeFi) and the economic principles underlying blockchain technology. By leveraging blockchain and smart contract technologies, DeFi enables programmable and automated financial services, eliminating the need for central trust and intermediaries. You will begin by examining classical financial intermediation before exploring the history and development of DeFi. You will analyze its relationship with financial institutions and its impact on the global financial system and business. Throughout the module, you will assess the role of International Financial Institutions (IFIs) and other financial intermediaries in relation to DeFi.

By studying the economics of blockchain, you will develop a clear understanding of how blockchains work and what types of financial problems they can (and cannot) solve. You will examine various decentralized applications (e.g., cryptocurrencies, payment systems, lending and borrowing protocols, exchanges, and trading platforms) and evaluate their impact on finance and business.

Throughout the module, you will critically analyze key DeFi protocols, assess their risks and benefits, and explore the regulatory challenges they present compared to traditional financial systems. You will also evaluate blockchain-based financial solutions and consider where future decentralized innovations may be most effective. By the end of the module, you will be equipped with the analytical and technical skills necessary to critically evaluate DeFi's role in the evolving financial landscape.

15 credits

Python for Accounting and Finance

This module provides you with the skills to apply Python to a range of problems in finance and accounting. No prior knowledge of Python or coding experience is expected. The aim of the module is to develop a better understanding of the ways in which computational techniques can be integrated into the world of finance. We will focus on developing the necessary skills to enable you to complete a wide range of tasks. This could include learning how to perform textual analysis of annual reports, design and run a trading algorithm, or run analytics on portfolio performance. The skills covered in this module are designed to be highly transferable.

This module alone will not develop advanced coding skills but will provide you with a necessary foundation to develop your skills further if you wish. This module will cover the wide range of classical topics in Python and scientific programming (e.g. dictionaries, loops, pandas etc.), but the focus will be on their applications to contemporary finance and accounting problems.

15 credits

Principles of Data Analytics

This course aims at preparing you for the field of data analytics in the context of the modern job market's demands with multiple analytics techniques. In the era of big data and AI,  you will learn the essential methodological steps of data analysis, from understanding data collection to extracting actionable insights. You will explore analytical techniques and tools necessary for identifying hidden information and making informed business decisions. Hands-on projects and real-world scenarios will equip you with the practical skills to address common challenges in data analytics, setting a strong foundation for further exploration in the field.

 This course is designed to deepen your understanding of the critical importance of rigorous methodology in data analysis and to equip you with a robust toolkit of data analytics techniques. Emphasizing the fundamental principles of statistical analysis, the course offers hands-on experience in applying these techniques effectively. You  will benefit from collaborative learning opportunities and insights drawn from the latest theoretical and applied research in the field. This interactive approach not only enhances understanding but also fosters an environment of peer learning and continuous engagement with cutting-edge data analytics practices.

15 credits

Portfolio management and investment

This module will introduce you to traditional, modern, and digital investment tools in global financial markets and how these are traded. It will also cover the role of financial analysis, statistical techniques, and recent Artificial Intelligence advances in helping investors identify investment opportunities and manage risk. You will learn how to identify, measure and manage the risks associated with individual assets and how to combine them into an efficient investment portfolio. Lab sessions will be based in a computer lab enabling students to utilise a wide range of data sources and trading platforms, such as Bloomberg.

15 credits

Global Financial Markets and Institutions

In this module, you will gain an in-depth understanding of global financial markets and institutions, exploring their structure, function, and their rapidly evolving dynamics driven by financial innovation.

You will explore traditional banking-related instruments and institutions, as well as global equity and bond markets, emerging non-bank alternative funding sources, and the impact of financial technology (FinTech) on cross-border financial intermediation.  You will also gain insights into alternative sources of external funding such as crowdfunding, venture capital, angel investors, and private equity, and their impact on traditional financing structures. Further, you will acquire an understanding of the regulatory environment governing global financial institutions and its implications for financial stability.

Throughout the module, you will develop analytical skills to critically assess the challenges and advantages of international financing, including regulatory considerations surrounding financial technology and financial innovation in a rapidly changing environment.

15 credits

Sustainable Finance

In the transition to a low-carbon world, Sustainable Finance has emerged as a critical area for teaching and learning. It plays a vital role in addressing climate change and mobilising investment for resilient growth. This module examines climate-related risks in finance and investment decisions while incorporating environmental, social, and governance (ESG) criteria into corporate finance. You will learn how investing in sustainability-focused businesses can lead to improved financial performance and the creation of resilient organisations.

15 credits

Project Dissertation

This unit requires the student to research a topic appropriate to the field of management. The topic chosen by the student must receive approval from a supervisor. A dissertation written by the student should be delivered to the School at the conclusion of the study. The study, and the resulting dissertation, may take the form of an academic research or of a managerial problem-solving exercise. In either case, it requires the student to apply critical analysis and to set the issues within the context of appropriate management literature.

45 credits

Optional modules:

Sustainability Accounting and Accountability

This research-led module draws inspiration from the Sheffield School of Accounting and Finance and the work carried out by Centre for Research into Accounting and Finance in Context (CRAFIC) researchers at the Sheffield Management School. The module introduces you to fundamental concepts that will help you better understand accounting's role in organisations and society. Rather than viewing accounting as a purely technical and neutral tool for achieving economic objectives, this unit encourages you to consider its broader role in addressing grand societal challenges such as the Sustainable Development Goals, climate change, combating modern slavery, and more.

In addition to enhancing your critical reasoning skills, this module will equip you with high-demand skills in sustainability reporting. You will become familiar with the context of sustainability reporting, frameworks for reporting and assurance, and how businesses meet growing accountability demands to multiple stakeholders. By examining real-world cases, you will critically analyse current practices, gain practical skills, and deepen your understanding of issues within contemporary sustainability reporting.

Through this approach, you will develop a critical appreciation of the philosophical issues in research and practice and build a skill set aligned with the growing demand for sustainability reporting and assurance specialists.

15 credits

Risk and Uncertainty

Organisations continually face uncertainty regarding various aspects of the environment in which they operate and a myriad of risks associated with various aspects of their businesses. This module discusses the behavioural aspects of economic agents that shape their attitude towards risk and the weaknesses of risk management processes within corporations. It also discusses the process of managing uncertainty through the creation and management of a portfolio of (real) options. The module will be delivered through lectures that will be supplemented with tutorials, and students will be assessed through an essay/coursework and a final examination which covers both theoretical and practical developments.

15 credits

Data Visualisation for Finance and Accounting

This module is designed to equip you with the essential skills and knowledge to effectively communicate data through visual storytelling. You will learn to design impactful infographics, create insightful plots, and develop visualizations that clearly highlight key findings. Emphasis will be placed on both creative and technical aspects of visualization, enabling you to transform complex data into clear, engaging, and meaningful visual narratives tailored to diverse audiences.

Through hands-on experience, you will build real-time and interactive visual tools, such as  dynamic price tracking charts and scenario-based dashboards, that allow users to explore data intuitively. You will also gain practical skills in publishing and sharing your work by hosting visualizations on personal websites or portfolios. By the end of the module, you will be able to create professional-quality, interactive visualizations suitable for a wide range of applications, from business analytics to research communication.

15 credits