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This programme offers a comprehensive grounding in a theoretical base alongside the practical application of finance in quantitative asset management and the business of money management.
Putting theory into practice
Learn from leading practitioners and world-class faculty how to put the latest academic thinking and business strategies into practice.
Tailor the course to your needs
Choose from a wide variety of electives to fit your specific career goals.
You will have access to Bloomberg terminals, Reuters Eikon, Datastream, Matlab and two bespoke computer labs.
Our dedicated careers service will help you present yourself with confidence to the worlds top employers.
The Imperial name will open doors for you across the world.
Core modules build rapidly on previous experience while introducing new and challenging disciplines. Each module comprises 27 hours of lectures. You can find out more about our internationally respected academics on our faculty pages.
Mathematics for Finance
Success in modern finance, whether mergers and acquisitions, derivative asset pricing, optimal portfolio choice or risk management, is unthinkable without a solid grasp of mathematics. This module introduces you to a range of essential mathematical tools and their financial applications.
- Calculus and its applications in finance
- Probability theory and its applications in finance
- Arbitrage theory in finance one period model
- Dynamically complete markets in discrete time
- Continuous time finance: partial differential equations and Itos formula
By the end of the module youll be able to build dynamic asset price models in discrete and continuous time, construct dynamically optimal portfolios and price derivative securities. Youll have a good understanding of stochastic calculus and a complete command of Itos formula, ready to excel in any area of finance.
This module will acquaint you with a range of modern econometric techniques which are an essential part of modern advanced empirical research. The module will be taught through a series of formal lectures, class and computer based exercises.
- Statistics and regression analysis
- ARCH and GARCH estimation
- Panel data estimation
- Instrumental variables
- Time series forecasting
By the end of the module youll be able to analyse data from any source using a wide variety of techniques.
Investment and Portfolio Management
This module provides you with a critical understanding of important portfolio management techniques used for investments and portfolio management by hedge funds, asset managers, investment banks and other financial institutions. One of the strengths of the module is that it is accompanied by case studies and realistic practical examples that you are asked to solve each week using Matlab. Moreover the module covers pricing and predictability of a large range of asset classes including equities, bonds, foreign exchange, commodities and hedge funds.
- The term structure
- Applied interest rate analysis
- Mean-variance portfolio theory
- The CAPM Fundamentals of pricing theory
By the end of the module youll be able to implement trading strategies and portfolio construction methods in a wide range of assets including equities, bonds, foreign exchange, commodities and derivatives such as swaps and futures.
Valuation techniques for financial derivatives are a core component of the skills necessary for a career in a modern financial institution. Youll learn to develop and apply the techniques learnt in Investments and Portfolio Management to the pricing of a range of financial derivatives and to the determination interest rates at different maturities.
- Forwards, swaps and futures
- Options: basics
- Options in continuous-time
- Interest rate derivatives
- Models of the yield curve
By the end of the module youll have an in-depth understanding of important valuation techniques applicable in a variety of financial markets and sought after by prospective employers.
This module surveys recent developments in portfolio management, advancing the knowledge to current research and practice.
- Asset pricing
- Pricing theory
- Stocks, bonds & options
- Trading strategies for hedge funds, & mutual funds
By the end of this module you will have explored various sources of risk which financial institutions are exposed to, such as interest rate risk, credit risk and liquidity risk, and study how financial institutions manage these risks.
Macro Economics NEW
An introductory macroeconomic module which will emphasise areas particularly relevant for investment decision making.
- the business cycle
- Government debt management
- Trade imbalances
By the end of the module youll have an understanding of fundamental economic concepts, and the effectiveness of both monetary and fiscal policies in stabilising the business cycle, particularly in the context of the recent financial crisis.
In addition to the core modules, all students are required to pass the following online module:
Ethics and Professional Standards in Finance (Spring/Summer Term)
This online module aims to introduce students to corporate responsibility and professional standards for financial analysts. In this short module, we will take students through a review of the key factors and responsibilities for ethical practice in finance. There are eight sections in total for students to complete. Each section will include video commentary, a web-based lecture, suggested readings, practical examples and discussion questions to test the key concepts learned in that section. At the end of the module, the students take a compulsory test, which must be passed before they can be awarded the MSc.
Academic achievementA First or Upper Second Class honours degree (or international equivalent ), from a recognised university, in a quantitative discipline such as finance, accounting, economics, mathematics, engineering, science or business.There are no specific A Level criteria, but many banks and companies in the financial sector have very strict grade requirements for their graduate programmes. We strongly recommend that you research the entry requirements of any companies you are interested in working for.Quantitative skillsAll students commencing the programme are expected to be proficient in probability, calculus, matrix algebra and real analysis.If your undergraduate degree is not in a highly mathematical discipline you will need to demonstrate your suitability with excellent results in your quantitative modules and ideally a strong GMAT or GRE result. A well-rounded test with a score of at least 48/60 in the quantitative section of GMAT, or at least 750 (old test) or 159 (new test) in the quantitative section of GRE will add weight to your application.All applicants should use the 'Mathematics Experience Statement' on the application form to list what you believe are the most advanced courses that you have taken in mathematics, probability theory and econometrics and to provide brief examples of the relevant topics covered by the course.Career planningAn understanding of the financial sector and well researched short and long term career goals are essential and should be demonstrated through your completion of the Career Planning Questions in the application form.Although work experience is not a requirement, prospective students are strongly recommended to undertake relevant internships and work placements and list them in the Industrial/Professional Experience section of the application form, as this will add weight to your application.English language requirementALL applicants must demonstrate English language proficiency by meeting one of the following standards:GCSE, GCE O Level English or equivalent at grade B or aboveIGCSE English as a First Language at grade B or above (only acceptable from students who do not require a visa to study in the UK)Cambridge Certificate of Proficiency in English (CPE) at grade B or aboveIELTS (academic): A minimum score of 7.0 with minimum scores of 6.5 in all elementsInternational Baccalaureate (IB) English at grade 5 or above (either Subsidiary or Higher)Successful completion of the Business School's Pre-Sessional English CourseA full list of acceptable English language qualifications and our required scores can be found in the English language section of our FAQ pages.NoteOur English language requirements are applicable to Home, EU and Overseas students.IELTS scores will only be valid if they are less than two years old on the programme start date.You may submit your online application prior to receiving your IELTS scores.Our English language requirements are higher than the minimum standard set by Imperial College. English Language Requirements IELTS band: 7 IMPORTANT NOTE: Since April 2014 the ETS tests (including TOEFL and TOEIC) are no longer accepted for Tier 4 visa applications to the United Kingdom. The university might still accept these tests to admit you to the university, but if you require a Tier 4 visa to enter the UK and begin your degree programme, these tests will not be sufficient to obtain your Visa. The IELTS test is most widely accepted by universities and is also accepted for Tier 4 visas to the UK- learn more.
Students normally obtain funding from the following sources;
- Imperial College Business School scholarships
- Other merit or needs based scholarships. For example, Imperial College London offers postgraduate scholarships which you canread about here, and The British Council offers scholarships for international students
- Self/family funding
- Employer sponsorship
- Other sources of funding may be found in these publications; Imperial College London Postgraduate Prospectus, The Grants Register (published by Macmillan), Awards for postgraduate study at Commonwealth Universities (Association of Commonwealth Universities), Study Abroad (UNESCO)
UK residents requiring further additional information on financial assistanc e should visit this government website or call 0800 100 900. They offer options such as Professional and Career Development Loans.