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Mathematical Finance – (M.Sc.)
The University of Manchester
School of Mathematics
| Annual Tuition Fee: | ≈ € 21,665 | ||
| Location: | Manchester / United Kingdom / View location on map ▾ Hide location on map ▴ | ||
| Duration: | 12 months | Start Date: | September |
| Educational Form: |
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| Languages: | English | ||
Location of The University of Manchester
Manchester Business School and the School of Mathematics at the University of Manchester have combined their academic strength and practical expertise to deliver the MSc in Mathematical Finance.
Building on the existing strength of relationships of MBS and the School of Mathematics academic staff with leading financial institutions, we are expanding our co-operation to enrich our courses as a learning experience. We have incorporated features to reflect the unique and world-renowned Manchester Method: a real-world and all-inclusive approach to academic and career planning excellence. These include a series of invited lectures from senior staff of leading financial institutions and a number of dissertation topics proposed by foremost members of these organisations.
The programme provides students with advanced knowledge and understanding of the main theoretical and applied concepts in Mathematical Finance delivered from a genuinely international and multicultural perspective with a `current issues´ approach to teaching. The focus of the programme is on mathematical theory and modelling, drawing from the disciplines of probability theory, scientific computing and partial differential equations to model relations between asset prices and interest rates, and to develop models for pricing, risk management and financial product development.
The finance industry demands recruits with strong quantitative skills and this programme is intended to prepare students for careers in this area. The programme provides training for those who seek a career in the finance industry specialising in derivative securities, investment, risk management and hedge funds. It also provides research skills for those who wish to subsequently pursue research and/or an academic career (e.g. university lecturer) or continue the study at doctoral level, particularly those wishing to pursue further and advanced studies in Mathematical Finance.
Contents
Programme structure
There are eight course units to study over two academic terms, and a dissertation/project in the summer term. The course teaching is shared by the School of Mathematics and the Manchester Business School, and delivered through lectures, case studies, seminars and group project-based work.
Semester one course units:
* Derivative Securities;
* Foundations of Finance Theory;
* Martingales with Applications to Finance;
* Stochastic Calculus.
Semester two course units:
* Brownian Motion;
* Computational Finance;
* Financial Econometrics;
* Stochastic Modelling in Finance.
Summer research period:
For the dissertation, students will carry out an original piece of research on a subject relating to the programme. Our MSc dissertation topics are aligned with the research interests of leading financial institutions from the City of London and internationally. A number of dissertation topics are proposed by senior members of these organisations and if approved are supervised by our academic staff. Successful completion could require a number of consultations between the student and financial institution officers, leading to a final presentation of findings.
IELTS
You are normally required to take an English Proficiency Test.
Most European Universities recognise the IELTS test.
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Register Now!Requirements
Entry requirementsA high Upper Second Class Honours degree, or the overseas equivalent, in Mathematics, Physics, Engineering or a subject with substantial mathematical content, is normally expected. Exceptional candidates with degrees in other disciplines will also be considered.
Applicants not graduating from a UK university may need to take the GMAT test. Students whose first language is not English require a minimum IELTS score of 7.0, TOEFL 623 paper-based or 263 computer-based, or CPE Grade C.
Language Proficiency
| Cambridge English: Advanced (CAE): | Grade C (Score: 60) |
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