This is an intensive course combining advanced study and research, tailored for people with one year or less of work experience who intend to go on to work for industry. It places particular emphasis on economic coverage of financial themes, beginning from the institutional background, moving on to careful consideration of how observed institutions should be modelled, and ending by relating existing models to data and discussing how these models should be improved when they do not fit the data. On completion of the MPhil degree students should have: acquired an advanced technical training in microeconomics, and econometrics; acquired, a solid grounding in the principles and practice of financial markets and developed the understanding of the tools necessary to make good financial decisions; begun to acquire independent research skills and experience of putting them into practice; acquired experience and guidance in formulating a realistic research topic and prepared written work to a strict timetable and acquired sufficient knowledge and understanding of advanced economics to proceed to a career as a professional economist in industry or to a research degree.