Financial Mathematics – (M.Sc.)

Contents

Course structure

Particular aspects of finance are crucial to your expertise. Our study programme is carefully designed to teach you these. Employers tell us they prefer to know that their new recruits have a high level base knowledge of the field. With that in mind, our course takes a structured approach to take you through that knowledge and understand how it fits together and is applied in the workplace. Modules are outlines below.

• Fundamental Tools
• Statistics for Finance
• Derivative Securities
• Probability and Stochastic Processes
• Economics of Financial Markets
• Numerical Methods and Programming A & B
• Financial Time Series
• Credit and Risk Management
• Continuous Time Finance for Interest Rate Models
• Financial Engineering
• Mathematical Tools for Financial Risk Management
• Exotic Options
• Advanced Modelling for Equity Derivatives

The assessments for each module could include one or more of the following assessment methods: tests, projects, presentations, group projects, and examinations. Your dissertation is an independent research project, in some cases carried out with a financial institution, submitted in September.

You will be allocated a Personal Tutor from one of the contributing departments at the start of the academic year. They will provide you with guidance and support throughout your studies here. You will also be allocated a member of faculty to act as supervisor for your dissertation.

Dissertation

You must complete a satisfactory 10,000 word dissertation to be awarded your MSc in Financial Mathematics. This gives you the opportunity to develop, test, practise, and apply the techniques and theories you have gained through your studies. You will be supervised and supported throughout by one of our academic staff.

You will present your dissertation proposal in term three. The proposal will be expected to demonstrate consideration of the purpose, method, and presentation of the results. The dissertation itself usually involves writing a critical review of an area of literature and demonstrating a competence in analytical and financial skills. You will submit your dissertation, normally, in early September. Some students will also have the opportunity to undertake an external project with one of our corporate associates.

Funding details

We strongly advise you to arrange funding for your time at WBS as early as possible.

Scholarships

In 2011-2012, we are offering more than 80 WBS scholarships for UK/EU students,
worth over £400,000. We automatically consider all eligible applicants to WBS courses, while funds are available.

We strongly recommend that you apply for a place on your chosen course as early as possible if you'd like to be considered.

WBS Scholarships

WBS Scholarships are intended for participants who are likely to be in the top 20 percent of their class. You must bring both outstanding experience and diversity of background to the class, and be a successful ambassador for WBS following graduation.

Warwick Scholarships

The University of Warwick Graduate School also offers some scholarships which may be available to applicants. You will generally need to apply for these separately.
Scholarships are usually awarded towards payment of your academic fee. Some funding sources have deadlines, some closing as early as February in the year of entry.

Banks & loans

Your bank might be able to offer you preferential borrowing rates on a loan, or an interest-free overdraft. You might want to make an early appointment with a bank representative to discuss your requirements.

Some United Kingdom banks may offer you a Career Development Loans (CDL), backed by the Government. The scheme is available to those intending to work in the United Kingdom or European Union countries. It can help fund up to two years of study.

Overseas students

There is some funding available for overseas students who are studying in the UK. However, available funding is usually awarded on a competitive basis and there are often many applicants for few awards.

The University of Warwick International Office's web site holds lots of information on funding for overseas students.

It may be possible to apply in your own country for British government awards. Talk to your local British Council office. In particular, overseas students are able to apply for a British Chevening Scholarship.

Check the conditions of eligibility in the booklets produced by the different grant-awarding bodies to see if you are eligible. Sometimes you may be able to put together small grants from different agencies, one paying fees alone while another contributes to your living expenses or travel.