For MCL students half of their overall course load consists of four one-term electives, referred to as 'modules', chosen from a selection on offer. Each module provides MCL students with the opportunity to investigate in depth and in a small group setting important, intellectually challenging corporate topics. Law Faculty members involved with the MCL co-ordinate and examine each module but various modules will be tailored to distinguished external instructors and academics from other Cambridge University departments.

Each module encompasses 16 hours of formal instruction, occurring in a single term, either first term (Michaelmas) or second term (Lent). Assessment of each module occurs at the end of the term in which it is taught. While it is theoretically possible for an MCL student to take three modules in one term and one in the other the almost universal practice is for students to take two modules per term in each of Michaelmas and Lent Terms .

The modules on offer in 2022-23 are:

  • Corporate Taxation
  • International Merger Control
  • The Law Firm as a Business
  • Shareholder Activism
  • Shareholder Litigation
  • Law and the Digital Economy: The Corporate Dimension

Module offerings typically vary somewhat year by year but there is substantial continuity over time.