There is growing demand for infrastructure investment globally as traditional sources of public funding and finance can no longer be presumed to provide the required levels of capital. This innovative MSc considers the perspectives of procuring infrastructure as well as providing the private finance to deliver the required investments to close the infrastructure gap.
Modes and duration
Tuition fees (2017/18)
- £16,060 (FT)
- £26,780 (FT)
Note on fees: The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Current Students website. Fees for flexible, modular study are charged pro-rata to the appropriate full-time Master's fee taken in an academic session.
A minimum of an upper second-class Bachelor’s degree from a UK university in a relevant subject (including engineering, mathematical-based science, built environment, economics and finance), or an overseas qualification of an equivalent standard. In exceptional cases, a lesser academic qualification combined with substantial professional experience and demonstrable academic ability will allow acceptance onto the programme.
English language requirements
If your education has not been conducted in the English language, you will be expected to demonstrate evidence of an adequate level of English proficiency.
The English language level for this programme is: Good
Further information can be found on our English language requirements page.
Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website.
International applicants can find out the equivalent qualification for their country by selecting from the list below.
Select your country:
With a strong commercial focus, this course provides candidates with a well-balanced mix of economic and financial theory as well as industry practice, including modules exploring:
- The history and future of infrastructure investment at global, national and sector levels, and the key determinants of total and sector investment levels
- The impact of government policy, funding and private capital markets on investment in infrastructure
- The role of regulation in incentivising private investment
- The cost of capital for infrastructure investment and the allocation of risk in contracted delivery
- The commercial perspective of infrastructure project sponsors, lenders, investors and contractors throughout the procurement, design, construction and operation of infrastructure assets
MSc students undertake modules to the value of 180 credits.
The programme consists of eight core modules (120 credits) and a research dissertation (60 credits).
A Postgraduate Diploma, eight core modules (120 credits) is offered.
- Financing Infrastructure: Fundamentals and Innovations in Funding and Financing
- Infrastructure using a Special Purpose Vehicle
- Infrastructure: Economic Principles and Policy
- Infrastructure as an Asset Class
- Agency and Transaction Costs in Infrastructure Projects
- Risk Modelling and Asset Management in Infrastructure Projects
- Demand Forecasts, Business Cases and Appraisal Methods for Infrastructure Projects
- The Management of Infrastructure Projects and Programmes
There are no optional modules for this programme.
All students undertake a substantial research-based dissertation on a research question of their own choosing.
Teaching and learning
The MSc programme is delivered through a combination of lectures, seminars, group tutorials/workshops, project briefings, and individual supervision for the research-based dissertation element. Assessment is through examinations, 3,000-word written term papers and the 10,000-word dissertation.
For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.
This MSc will equip graduates with the potential to become future innovators, leaders, senior managers, policymakers, researchers and teachers in the fields of finance, infrastructure ownership and project management industries. Organisations that are likely to take on graduates of MSc IIF include infrastructure developers, infrastructure financiers and investors such as banks and equity funds, infrastructure operators, public sector commissioning and regulatory bodies, as well as advisory firms active in the growing infrastructure market.
Completing the one year programme will equip graduates with skills necessary for a career in infrastructure procurement and development whether as public sector advisor, private sector financing specialist or consultant within advisory firms.
Students successfully completing the programme will be able to show:
- competence in their ability to apply a wide range of theories and concepts to a variety of infrastructure focused problems and contexts
- possession of high level critical and research skills
- an ability to critically appraise and interpret the importance of trends and developments in the infrastructure investment and finance sectors of the countries in which they work
- an ability to appraise critically the continuing developments in the literature and research on the infrastructure investment and finance.
Why study this degree at UCL?
Many governments including the UK, US, the EU, China and India are increasing their focus on improving infrastructure. The required capital for investment is estimated to be in the trillions of US dollars. At the same time there is a dire need for professionals equipped with the necessary skills and knowledge to deliver regional, national and international infrastructure projects. This pioneering MSc is the only course in the UK, and one of few globally, to focus on the finance, funding and commercial issues associated with these vast sums of investment and global infrastructure needs and this is the space where graduates of this programme will come into their own.
The School of Construction & Project Management is placed within the renowned UCL Bartlett Faculty of the Built Environment. The School has both specialist expertise and excellent relations with a range of industry and government bodies, which will provide a valuable network to students seeking careers in the exciting area of infrastructure financing and development.
The MSc directly benefits from the signing of a Memorandum of Understanding (MoU) between UCL and the European Investment Bank (EIB). This MoU sets out the scope of the EIB's support and ongoing involvement in the planning and delivery of the IIF MSc. It is expected that the EIB’s involvement will significantly enhance students’ understanding of infrastructure finance and investment, through the Bank’s long and multi-faceted experience in this field.
UCL is exploring accreditation of the MSc with professional institutions such as the Chartered Institute for Securities and Investment (CISI) and the Royal Institute of Chartered Surveyors (RICS).
MSc IIF is accredited by the Royal Institute of Chartered Surveyors (RICS) and is a partner university of the Chartered Institute for Securities and Investment (CISI).
Student / staff numbers › 42 staff › 300 taught students › 20 research students
Research Excellence Framework (REF)
The Research Excellence Framework, or REF, is the system for assessing the quality of research in UK higher education institutions. The 2014 REF was carried out by the UK's higher education funding bodies, and the results used to allocate research funding from 2015/16.
The following REF score was awarded to the department: Bartlett School of Construction & Project Management
74% rated 4* (world-leading) or 3* (internationally excellent)
Learn more about the scope of UCL's research, and browse case studies, on our Research Impact website.
Application and next steps
Students are advised to apply as early as possible due to competition for places. Those applying for scholarship funding (particularly overseas applicants) should take note of application deadlines.
Who can apply?
This programme is designed for early to mid-career professionals seeking to specialise in infrastructure investment, economics and finance, procurement and regulatory functions. In addition to enabling finance graduates the opportunity to specialise, the Infrastructure, Investment and Finance MSc will also be attractive to engineering graduates wishing to adapt their career options, and to graduates in other related numerate subject areas (e.g. economics, planning, etc.).
- 29 May 2017
- 28 July 2017
For more information see our Applications page.Apply now
What are we looking for?
When we assess your application we would like to learn:
- Why you want to study for the MSc in Infrastructure Investment and Finance and what attracts you to this specialism
- How your professional and academic background meets the demands of th MSc Infrastructure, Investment and Finance MSc
- Why you want to study at UCL
- How the Infrastructure, Investment and Finance MSc will help you to achieve your career plans.
When completing your application you should consider that together with essential academic requirements, the personal statement is your opportunity to illustrate whether your reasons for applying to this programme match what the programme will deliver.
Successful applicants to this programme will be required to pay a tuition fee deposit dependent on their mode of study and fee status as given below:
- UK/EU full-time: £2,000
- UK/EU part-time: £1,000
- Overseas full-time: £2,000
- Overseas part-time: £1,000
Further details can be found on the Fees and funding page.