M.Sc. Operational Research, Applied Statistics and Risk

  • On Campus
  • 12 months
  • GBP18250 per Year (International

    Tuition fee for the international students.

    )
    GBP7750 per Year (EEA

    European Economic Area tuition fee is applicable to the students from EU countries, Iceland, Liechtenstein, Norway and Switzerland.

    )
  • English ( Take IELTS test or Find a course )
| Cardiff, Wales, United Kingdom
Our new and innovative MSc in Operational Research, Applied Statistics and Risk programme from Cardiff University will equip you with the necessary analytical skills, methods and ways of thinking to tackle and analyse complex organisational problems, help make better decisions, and to become confident statistical analysts. This is ideal training and experience for those looking for career opportunities in areas such as Operational Research, Management Science, Statistics, Risk Analysis, Financial Modelling, Actuarial Risk and Credit Scoring, Management Consultancy, Business Analytics, Supply Chain Management, Government OR/Statistics etc.

Description

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You will study a variety of problem-solving techniques, allowing you to build and use mathematical and statistical models, alongside skills to develop your abilities to communicate effectively to others. The programme will prepare you with essential techniques in Operational Research and Applied Statistics, and allow you to then select from a number of interesting and varied optional courses in topics such as supply chain modelling, healthcare, and Statistics and Operational Research for Government (delivered with input from the Office for National Statistics and Welsh Assembly Government). As well as studying the foundations in Operational Research and Applied Statistics, you will study further topics in actuarial risk, financial modelling and credit risk scoring, and is ideal for those who wish to study in greater depth risk models, particularly for application to financial markets but also to other sectors.

We have designed and structured the programmes with both full and part-time students in mind. By adopting an efficient modular approach to teaching, part-time students will typically only need to be in the University for lectures and workshops for the equivalent of one day per week over 24 weeks each year, and complete the taught component of the programme over two years with up to a further year to complete the project dissertation. Full-time students will complete the programme in 12 months, which includes a 3 month period working with a company on a real problem of importance to that company.

Special Features

  • Our MSc in Operational Research, Applied Statistics and Risk from Cardiff University is a unique MSc degree combination in the UK, and is ideal for those who wish to study in greater depth risk models, particularly for application to financial markets but also to other sectors.
  • Delivered by experts in the fields of Operational Research and Statistics, the skills that you will learn are highly transferable for use within industry, business and the public sector.
  • We enjoy close collaboration with a number of organisations who employ Operational Researchers, Statisticians and Financial/Risk Modellers, and critical to our programmes is the opportunity for you to put the theory into practice, through case studies and project work in the `real-world´. An important feature of the MSc is the project dissertation, allowing you to work with an external company. Studying our MSc programmes offers the possibility of exciting and rewarding career opportunities and progression.

Detailed Course Facts

Start dates and application deadlines

Started in

  • There is no deadline for this start date.

Dates reflect the university's timezone.

Tuition fee
  • GBP18250 per year ( International

    Tuition fee for the international students.

    )
  • GBP7750 per year ( EEA

    European Economic Area tuition fee is applicable to the students from EU countries, Iceland, Liechtenstein, Norway and Switzerland.

    )
  • Part-time: EEA: £3,875; Non-EEA: £12,250
Duration full-time 12 months
Delivery mode On Campus
Educational variant Part-time, Full-time
Intensity Flexible
Part-time variant Flexible

Course Content

Courses:
  • Operational Research Methods
  • Statistical Methods
  • Communication and Research Skills
  • Computational Methods
  • Time Series and Forecasting
  • Supply Chain Modelling
  • Statistics and Operational Research for Government
  • Advanced Use of Statistical Packages
  • Healthcare Modelling
  • Business and Risk Strategy
  • Financial Maths and Actuarial Risk
  • Credit Risk Scoring

English Language Requirements

IELTS Take IELTS test
6.5
CAE score
193(Grade B)

IMPORTANT NOTE: The UK government confirmed new requirements for secure English language testing for visa and immigration purposes. Learn more

Requirements

Applications are welcome from people with:

  • A first degree (minimum second class honours) from a recognised university in a numerate subject such as Mathematics, Operational Research, Statistics, Management Science, Economics, Engineering, Computer Science, Geography or a suitable Science degree.
  • A good level of English language, both written and oral (applicants whose first language is not English will normally require an IELTS score of 6.5 or TOEFL 600).
  • Willingness to engage with staff and students for mutual benefits.
  • Motivation to establish or accelerate a career in Operational Research and Statistics.
  • Admission to UK universities often requires that students have completed a recognized Bachelor's degree. International students should consider taking a Pre-Master to gain access to UK universities when:

    • You are considered ineligible for admission
    • You need to improve your academic, study, research or language skills
    Search all Pre-Masters

    Work Experience

    No work experience is required.

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    Cardiff University

    Cardiff, United Kingdom

    United Kingdom We are an ambitious and innovative university with a bold and strategic vision located in a beautiful and thriving capital city. Our world-leading research was ranked 5th amongst UK universities in the 2014 Research Excellence Framework for quality and 2nd for impact. We provide an educationally outstanding experience for our students. Driven by creativity and curiosity, we strive to fulfil our social, cultural and economic obligations to Cardiff, Wales, and the world.