Statistics with Finance, M.Sc.

  • N/A
    Application Deadline
  • 12 months
    Duration
  • 13340
    Tuition (Year)
    5430
    Tuition (Year)
  • English
    Language
,
The MSc in Statistics with Finance is accredited by the Royal Statistical Society (RSS) and is excellent preparation for careers in any field requiring a strong statistical background. This programme is offered by the University of Kent.
  • Overview
  • Programme outline
  • Key facts
  • Admission requirements
  • Fees and funding

About

This Statistics with Finance programme trains students for careers using statistics in the financial services industry. You study the statistical modelling underpinning much modern financial engineering combined with a deep understanding of core statistical concepts. The programme includes modelling of financial time series, risk and multivariate techniques. This programme is offered by the University of Kent.

Statistics at Kent provides:
  • a programme that gives you the opportunity to develop practical, mathematical and computing skills in statistics, while working on challenging and important problems relevant to a broad range of potential employers
  • teaching and supervision by staff who are research-active, with established reputations and who are accessible, supportive and genuinely interested in your work
  • advanced and accessible computing and other facilities
  • a congenial work atmosphere with pleasant surroundings, where you can socialise and discuss issues with a community of other students.
About the School of Mathematics, Statistics and Actuarial Science (SMSAS)

The School has a strong reputation for world-class research and a well-established system of support and training, with a high level of contact between staff and research students. Postgraduate students develop analytical, communication and research skills. Developing computational skills and applying them to mathematical problems forms a significant part of the postgraduate training in the School. We encourage all postgraduate statistics students to take part in statistics seminars and to help in tutorial classes.

The Statistics Group is forward-thinking, with varied research, and received high rankings in the Research Excellence Framework (REF) for research power and quality.

National ratings

In the Research Excellence Framework (REF) 2014, research by the School of Mathematics, Statistics and Actuarial Science was ranked 25th in the UK for research power and 100% or our research was judged to be of international quality.

An impressive 92% of our research-active staff submitted to the REF and the School’s environment was judged to be conducive to supporting the development of world-leading research.
Careers

Students often go into careers as professional statisticians in industry, government, research and teaching but our programmes also prepare you for careers in other fields requiring a strong statistical background. You have the opportunity to attend careers talks from professional statisticians working in industry and to attend networking meetings with employers.

Recent graduates have started careers in diverse areas such as the pharmaceutical industry, financial services and sports betting.
Professional recognition
The taught programmes in Statistics with Finance provide exemption from the professional examinations of the Royal Statistical Society and qualification for Graduate Statistician status.

Programme Structure

You undertake a substantial project in the area of finance or financial econometrics, supervised by an experienced researcher. Some projects are focused on the analysis of particular complex data sets while others are more concerned with generic methodology.

You gain experience of analysing real data problems through practical classes and exercises. The course includes training in the computer language R.

Modules

The following modules are indicative of those offered on this programme. This list is based on the current curriculum and may change year to year in response to new curriculum developments and innovation. Most programmes will require you to study a combination of compulsory and optional modules. You may also have the option to take modules from other programmes so that you may customise your programme and explore other subject areas that interest you.

  • Stochastic Processes
  • Portfolio Theory and Asset Pricing Models
  • Mathematics of Financial Derivatives
  • Analysis of Large Data Sets
  • Practical Statistics and Computing
  • Modelling of Time-Dependent Data and Financial Econometrics
  • Project
  • Probability and Classical Inference
  • Advanced Regression Modelling
  • Bayesian Statistics
Teaching and Assessment

Coursework involving: complex theoretical questions, analysis of real-world data using appropriate computing packages over a range of areas of application; analysis appropriate to financial data (in particular modules); written unseen examinations; dissertation.

Programme aims

The programme aims:

  • To give students the depth of technical appreciation and skills appropriate to masters' level students in Statistics.
  • To equip students with a comprehensive and systematic understanding of theoretical and practical Statistics, and their uses in Finance.
  • To develop students’ capacity for rigorous reasoning and precise expression.
  • To develop students’ capabilities to formulate and solve problems relevant to Statistics.
  • To develop in students appreciation of recent developments in Statistics, and of the links between the theory of Statistics and financial modelling (and other areas of application).
  • To develop in students a logical, mathematical approach to solving problems.
  • To develop in students an enhanced capacity for independent thought and work.
  • To ensure students are competent in the use of information technology, and are familiar with computers, together with the relevant software.
  • To provide students with opportunities to study advanced topics in Statistics, engage in research at some level, and develop communication and personal skills.
  • To provide successful students with the depth of knowledge of the subject sufficient to enter a career as a professional statistician or appropriate career in quantitative finance.
  • To provide a deep understanding of the use of Statistics in Finance and Financial Econometrics
Learning outcomes

Knowledge and understanding

You will gain knowledge and understanding of:

  • Systematic understanding of probability and statistics and the range of principles involved.
  • Awareness of links between different statistical concepts and methods.
  • Advanced information technology skills relevant to statisticians.
  • A comprehensive range of methods and techniques appropriate to statistics at the postgraduate level.
  • The role of logical mathematical argument and deductive reasoning.
  • Appreciation of particular subject areas to which statistics is applied, particularly finance, and the importance of the role of statistics in those areas.
  • Appreciation of the use of Statistics in Finance and the probabilistic concepts involved.
Intellectual skills

You develop intellectual skills in:

  • Ability to demonstrate a comprehensive understanding of the main body of statistical knowledge.
  • Ability to demonstrate skill in calculation and manipulation of data.
  • Ability to apply a range of statistical concepts and principles in various challenging contexts.
  • Ability for logical argument.
  • Ability to demonstrate skill in solving complex statistical problems using appropriate and advanced methods.
  • Ability in relevant computer skills and usage.
  • Ability to work with relatively little guidance.
  • Ability to evaluate research work critically.
  • Subject-specific skills

You gain subject-specific skills in:

  • Ability to demonstrate knowledge of advanced statistical concepts and topics, both explicitly and by applying them to the solution of problems.
  • Ability to demonstrate knowledge of statistical modelling techniques commonly applied to finance.
  • Ability to abstract the essentials of problems to facilitate statistical analysis and interpretation.
  • Ability to present statistical analyses and draw conclusions with clarity and accuracy.
Transferable skills

You will gain the following transferable skills:

  • Problem-solving skills; ability to work independently to solve problems involving qualitative or quantitative information.
  • Communication skills, including the capacity to report to others on analyses undertaken.
  • Computational skills.
  • Information-retrieval skills involving a range of resources.
  • Information technology skills including scientific word-processing.
  • Time-management and organisational skills, as evidenced by the ability to plan and implement efficient and effective modes of working.
  • Skills needed for continuing professional development.

Detailed Programme Facts

    • Started in

      • There is no deadline for this start date.

      Dates reflect the university's timezone.

  • Credits (ECTS)
    90 ECTS

    Total Kent credits: 180

  • Credits
    180

    Total Kent credits: 180

  • Duration full-time 12 months
  • Languages
    • English
  • Delivery mode
    On Campus
  • Educational variant Part-time, Full-time
  • Intensity Flexible
  • Duration part-time 24 months
  • Part-time variant
    Flexible

Test Scores

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Academic Requirements

A minimum of 2.2, with a substantial amount of mathematics at university level. Prior experience of finance is not required.

Tuition Fee Per Year

  • GBP 13340 International
  • GBP 5430 EEA

Part-time: UK/EU - £2720; Overseas - £6690

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