Mathematical Finance

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This is an exciting and intensive one-year taught postgraduate programme. Our team of dedicated lecturers and support staff help to keep the course one of our most popular.

The department, the University as a whole and the historic City of York provide a uniquely attractive environment in which to live and study.

On this MSc programme you will develop skills and competence in Mathematical Finance which are of direct relevance in the field of work.

If you would prefer to take the course as a part-time version over two years, this is possible if you are a UK or European student. Unfortunately we are not in a position to be able to offer this to Overseas students.

The MSc in Mathematical Finance opens up fantastic employment opportunities to successful graduates at/in:

* investment banks
* hedge funds
* insurance companies
* stock brokerage
* unit trusts
* pension funds
* corporate finance departments
* other financial institutions worldwide

Graduates can embark on careers in trading and pricing derivative financial securities (options, futures, forwards, and the like), fund management, risk management, research and development, or pursue further study to PhD level.

PROGRAMME STRUCTURE: FULL-TIME

MSc students complete modules to the value of 180 credits, including 70 credits from core taught modules, 20 credits from optional taught modules and 90 credits from dissertation.

Diploma students complete modules to the value of 120 credits, including 70 credits from core taught modules, 20 credits from optional taught modules and 30 credits from a project.

Week -1

* Transferable and Generic Skills (optional no-credit bearing module)

Term 1 (Autumn)

* Mathematical Methods of Finance (10 credits, core taught module)
* Discrete Time Modelling and Derivative Securities (20 credits, core taught module)
* Portfolio Theory and Risk Management (10 credits, optional taught module)
* C++ Programming with Applications to Finance (10 credits, optional taught module)
* Stochastic Calculus (10 credits, optional taught module)

Term 2 (Spring)

* Stochastic Calculus and Black-Scholes Theory (20 credits, core taught module)
* Modelling of Bonds, Term Structure, and Interest Rate Derivatives (20 credits, core taught module)
* Numerical Methods of Partial Differential Equations (10 credits, optional taught module)
* Stochastic Processes (10 credits, optional taught module)
* Financial Engineering (10 credits, optional taught module owned by the Economics Department)

Term 3 (Summer)

* Mathematical Finance Dissertation (90 credits; core module for MSc students)
* Mathematical Finance Project (30 credits; core module for Diploma students)
* Statistical Computing (10 credits, optional taught module)

PROGRAMME STRUCTURE: PART-TIME

Please note that due to UK student visa regulations only home (UK and European Union) students are eligible to apply to study on a part-time basis.

Part-time MSc students complete modules to the value of 180 credits over two academic years, including 70 credits from core taught modules, 20 credits from optional taught modules and 90 credits from dissertation.

Diploma students complete modules to the value of 120 credits over two academic years, including 70 credits from core taught modules, 20 credits from optional taught modules and 30 credits from a project.

Week -1, Year 1

* Transferable and Generic Skills (optional no-credit bearing module)

Term 1 (Autumn), Year 1

* Mathematical Methods of Finance (10 credits, core taught module)
* Discrete Time Modelling and Derivative Securities (20 credits, core taught module)

Term 2 (Spring), Year 1

* Stochastic Calculus and Black-Scholes Theory (20 credits, core taught module)

Term 3 (Summer), Year 1

* Statistical Computing (10 credits, optional taught module)

Term 1 (Autumn), Year 2

* Portfolio Theory and Risk Management (10 credits, optional taught module)
* C++ Programming with Applications to Finance (10 credits, optional taught module)
* Stochastic Calculus (10 credits, optional taught module)

Term 2 (Spring), Year 2

* Modelling of Bonds, Term Structure, and Interest Rate Derivatives (20 credits, core taught module)
* Numerical Methods of Partial Differential Equations (10 credits, optional taught module)
* Financial Engineering (10 credits, optional taught module owned by Economics Department)
* Stochastic Processes (10 credits, optional taught module)

Term 3 (Summer), Year 2

* Mathematical Finance Dissertation (90 credits; core module for MSc students)
* Mathematical Finance Project (30 credits; core module for Diploma students)

A good undergraduate (BSc) degree or equivalent in a mathematically based discipline such as Chemistry, Computer Science, Engineering, Mathematics, Physics or Statistics, but candidates with a sufficiently good mathematical background from other areas such as Biology, Economics or Finance will also be considered.We welcome applications from candidates with taught postgraduate degrees (for MSc, MBA) either in a mathematical subject or in a finance related subject combined with sufficient mathematical background.Each applicant will be assessed individually to ensure that his/her mathematical background is appropriate. We are looking for a minimum of two years (4 semesters or 6 trimesters) of university level courses in mathematics, including calculus, linear algebra, probability and statistics, with good marks.Conversion YearCandidates who have a good undergraduate (BSc) degree or equivalent but whose mathematical background is insufficient for direct entry to the MSc programme may be offered a place on the Conversion Year, followed by a conditional offer of a place on the MSc in Mathematical Finance in the following academic year, subject to successful completion of the Conversion Year.LANGUAGE REQUIREMENTSStudents whose first language is not English must provide evidence of their ability to communicate in English. We normally look for the following as a minimum: * IELTS (Academic Test) with a score of at least 6.5 * or IELTS (Academic Test) with a score of at least 6.0 and successful completion of the 8-week Presessional Course in the Centre for English Language Teaching * or TOEFL* (Academic Test) with a score of at least 580 (or 237 in computer-based test or 96 in the internet-based test) * or Cambridge Certificate of Proficiency in English grade A, B or C * or Cambridge Certificate of Advanced English grade A * or Pearson Test of English (Academic) 67*The University seeks formal confirmation of all test results. For this purpose, if you are intending to take a TOEFL test please enter our Designated Institution code 3065 on your test form.Candidates holding a degree from a university in a country where English is the official teaching language are normally exempt from providing evidence of their ability to communicate in English.In some cases applicants who have not achieved the level required may be given a conditional acceptance, subject to achieving a prescribed standard by the starting date of the course. English Language Requirements IELTS band: 6.5 CAE score: (read more) Cambridge English: Advanced (CAE) is part of the Cambridge English suite and is targeted at a high level (IETLS 6.5-8.0). It is an international English language exam set at the right level for academic and professional success. Developed by Cambridge English Language Assessment - part of the University of Cambridge - it helps you stand out from the crowd as a high achiever. 80 (Grade A) TOEFL paper-based test score : 580 TOEFL iBT® test: 96 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.