• For Entry: September | January
  • Duration: 12 months
  • School: Science & Engineering
  • Study Mode: Full Time

The course prepares you to take up leading roles in industry and entrepreneurship nationally and internationally.

TEF Gold - Teaching Excellence Framework

This course is jointly delivered by the Discipline of Mechanical Engineering and the University of Dundee School of Business, and brings together contents of engineering and International Finance in an industrial engineering focused postgraduate degree course.

As a student on this programme, you enlarge your engineering competence gained in undergraduate studies by growing your knowledge in more specialised, industry-focused engineering subjects, as well as complementing this by an understanding of finance principles. You will undertake an industrial related project for at least 12 weeks to gain practical, industrial experience and develop specialised knowledge and skills. You will also have the opportunity to form a virtual spinout company combining your engineering skills with the business and management knowledge you will acquire on this programme. This will enable you to become a leader in the engineering industry, applying cutting edge industrial engineering strategies in combination with an economic vision and understanding.

Students graduating from this programme will have a strong interlinked knowledge between engineering and International Finance with the right set of project management and problem solving skills allowing you to enter leading roles in industry. Graduates will find employment in national and international industries and will be capable of applying transferable skills manufacturing projects and industrial research and development.

A woman working on machinery

Why study this course at Dundee?

  • Combine leading engineering technology skills with a sound business understanding
  • Learn about and apply cutting edge technologies
  • Strong links with local industries and companies allow you access to industrial funded projects
  • Opportunities for placements abroad (CERN, Geneva)
  • Gain skills to enter leading roles in industry, develop your own business, or take up  further studies and research
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Teaching Excellence Framework (TEF)

The University of Dundee has been given a Gold award – the highest possible rating – in the 2017 Teaching Excellence Framework (TEF).

Read more about the Teaching Excellence Framework

TEF Gold - Teaching Excellence Framework

What you will study

A wide variety of assessment styles is used on the course, including written formal examination, coursework (essays, literature reviews) project work (group presentations, report writing), and practical laboratory work, all leading up to a final dissertation.

Assessment type (whole programme)

Weighting (%)


132 of 180 credits = 73%

Written exams

48 of 180 credits = 27%

Practical exams


The MSc course uses a range of teaching and learning methods, including

  • Lectures
  • Student project workshops
  • Laboratory workshops
  • Student-led presentation
  • Individual study and group work
  • Practical research, data handling and statistical analysis
  • an industrial placement (during dissertation).

As is appropriate at postgraduate level, independent study plays a major role in student engagement.

Core Modules

Credit rating: 20

This module is intended to introduce students with little or no prior knowledge of the subject to the key topics and issues in the contemporary corporate finance field. In addition, the module will provide a detailed description and discussion of the way in which the modern business is required to interact on an informed basis with global markets, in the latter’s role as provider of scarce finance resources to firms which, in turn, are required to manage these funds and report on their use thereof in a reliable manner.

You will examine the fundamental concepts of international trade, finance and investment. It introduces the tools and techniques for asset pricing and capital budgeting, provides an overview of financial risk assessment and balance of payments and analyses the operation of the foreign exchange market and the determination of exchange rates. Topics you will cover include compounding, discounting and discounted cash flow analysis, the valuation of stocks and bonds in financial markets, the measurement of risk and the role of risk in asset pricing and financial decision-making, the balance of payments and the influence of macroeconomic factors on trade, the operation of currency markets and theories of exchange rate determination.

This module enables you to evaluate and manage the risks involved in international business in order to make sound financing and investment decisions. You will develop a knowledge and understanding of foreign exchange and eurocurrency markets; models of foreign exchange rate determination and financial products that manage currency risk; models of interest rate determination and financial products that manage interest rate risk; the practical uses of international capital markets for managing risk; the international economic and political environment in which multinational companies operate; the risks of foreign direct and foreign portfolio investment; practical perspectives of risk, and techniques for assessing the risk of capital and financial investments.

This module is taught intensively in the second part of the semester after Applied Business Statistics. You are provided with the quantitative skills required to forecast future values of business and financial data. This module enables you to use a variety of forecasting procedures and to assess their reliability. You will compare forecasting methods and discuss their uses and limitations.

Credit rating: 20

This module provided additional exposure and experience within advanced robotics, as used in advanced manufacturing, autonomous vehicles, and robotics research and will investigate topics such as: practical and simulated robotic control systems, multi-modal data fusion for intelligent decision making, and incorporation of active and passive compliance to make robots safer to be around.

Credit rating:20

This module provides an introduction to the use of lasers in materials engineering and manufacturing - advanced laser technology and laser materials processing. 

(January up to August) 

Credit rating:60

This module will provide the opportunity to gain experience in planning, organising and carrying out a programme of practical project work in some aspect of Engineering and Business. The project will be divided into a group project setting up a small commercial business, and an individual project carried out on an industrial placement. The exact nature of each students experience will depend upon the subject matter of the particular project they undertake.

Specific aims:

  • To develop skills in research, problem solving and critical thinking by investigative methods and design in an area of mechanical engineering;
  • To develop a high level of competence and individual responsibility and initiative in a particular mechanical engineering topic
  • To understand the industrial requirements in commercialising a product (creating a spinout company)
  • To develop and improve skills in project planning, management and implementation,
  • To develop skills in team working (group project) and communication with peers and experts (industrial placement)

This course has been designed under regular discussion with our industrial board, so it is as close as possible to the employment demands of an actively developing industry. As graduate of this degree programme students will find employment in leading industrial roles.


Industrial Engineering and International Finance

Two men observing work

You should have, or expect to have, a first degree in Mechanical Engineering, Electronic Engineering, Applied Physics or equivalent. You are expected to have achieved a good second class honours degree, or an equivalent standard. Relevant work experience is also considered, when 1 or 2:1 degree is not achieved.

 EU and International qualifications

English Language Requirement

IELTS Overall 6.0
Listening 5.5
Reading 5.5
Writing 5.5
Speaking 5.5

 Equivalent grades from other test providers


English Language Programmes

We offer Pre-Sessional and Foundation Programme(s) throughout the year. These are designed to prepare you for university study in the UK when you have not yet met the language requirements for direct entry onto a degree programme.

 Discover our English Language Programmes

The fees you pay will depend on your fee status. Your fee status is determined by us using the information you provide on your application.

 Find out more about fee status

Fee statusFees for students starting 2019-20
Scottish and EU students £6,950 per year of study
Rest of UK students £6,950 per year of study
International students (non-EU) £20,950 per year of study
Fee statusFees for students starting 2020-21
Scottish and EU students £7,650
Rest of UK students £7,650
International students (non-EU) £21,950
See our scholarships for International applicants

Tuition fees for Overseas (non-EU) students will increase by no more than 5% per year for the length of your course.

Additional costs

You may incur additional costs in the course of your education at the University over and above tuition fees in an academic year.

Examples of additional costs:

One off costOngoing costIncidental cost
Graduation feeStudio feeField trips

*these are examples only and are not exhaustive.

Additional costs:

  • may be mandatory or optional expenses
  • may be one off, ongoing or incidental charges and certain costs may be payable annually for each year of your programme of study
  • vary depending on your programme of study
  • are payable by you and are non-refundable and non-transferable

Unfortunately, failure to pay additional costs may result in limitations on your student experience.

For additional costs specific to your course please speak to our Enquiry Team.

You apply for this course through our Direct Application System, which is free of charge. You can find out more information about making your application when you click Apply Now below

  Degree Course code
Apply nowIndustrial Engineering and International Finance MScP060504

Course Contact

Dr Jan Vorstius
Science and Engineering
+44 (0)1382 385646

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