Mathematical finance is a subject that is both mathematically challenging and deployed every day by sophisticated practitioners in the financial markets. Our objective is to provide you with everything you need to get into this area at a level where you can understand–and contribute to–industry practice and the latest research. To do so, the courses we offer are oriented in different ways: some give the necessary finance and economics background; others provide instruction in fundamental mathematics (stochastic analysis, partial differential equations,...), and scientific computing (object-oriented programming in C++) is an integral part of the programme.
The programme is offered as a full-time 1-year course or a 2-year part-time course to the MSc degree. The programme is organised into compulsory and elective lecture modules. Written examinations are held in January, April and June of each year. There are resit examinations the following year, where necessary. There is a compulsory extended project, often undertaken in collaboration with an industry partner. 4 of the 8 lecture courses and the C++ course are compulsory, while the remaining 4 are chosen from options offered by the Department of Mathematics. To gain a degree, students must pass (overall mark > = 50%) 7 out of the 9 courses offered and achieve an average mark of at least 50% with a minimum mark of 30% on all courses offered. They must also pass the project.
The project may be an internship, where you work at the bank full time for 3 months or so, or a collaborative arrangement where you work at College and visit the company on a regular basis to discuss the project.
Whichever route you choose, you will be assigned an academic project supervisor who will be a member of staff of the Department of Mathematics.
Universities in the United Kingdom use a centralized system of undergraduate application: University and College Admissions Service (UCAS). It is used by both domestic and international students. Students have to register on the UCAS website before applying to the university. They will find all the necessary information about the application process on this website. Some graduate courses also require registration on this website, but in most cases students have to apply directly to the university. Some universities also accept undergraduate application through Common App (the information about it could be found on universities' websites).
Both undergraduate and graduate students may receive three types of responses from the university. The first one, “unconditional offer” means that you already reached all requirements and may be admitted to the university. The second one, “conditional offer” makes your admission possible if you fulfill some criteria – for example, have good grades on final exams. The third one, “unsuccessful application” means that you, unfortunately, could not be admitted to the university of you choice.
All universities require personal statement, which should include the reasons to study in the UK and the information about personal and professional goals of the student and a transcript, which includes grades received in high school or in the previous university.
We normally ask for a minimum of a high 2.1 degree in mathematics or a good First Class degree in a physical science with a strong mathematical content, i.e. several modules of mathematics with an emphasis on analysis, probability, statistics and differential equations. We expect the equivalent standard for an international qualification.
The Andrew Jennings Scholarship
Student Status Eligibility - Open pre-enrolment only
Value - £2,000 towards maintenance costs
Number Available - 1
Further Eligibility Criteria Information
The Andrew Jennings Scholarship is awarded by DecisionMetrics in the memory of a founding member, Andrew Jennings. DecisionMetrics is a credit risk analytics business and this award is intended for a student who has an interest in retail credit risk.
This award is open to all Home/UK and EU applicants who have been made an offer to study an MSc in Statistics degree within the Department of Mathematics at Imperial College London, starting in October 2015.
Application Deadline Date 31-MAR-2015
To apply please submit a short essay entitled "Why I am interested in credit scoring", which should be no more than one A4 page in length, to the Department of Mathematics by 31 March 2015. Your essay will be used along with your admission application and references to assess your academic merit and potential.
You must have received an offer to study an MSc degree in Statistics by 31 March 2015.
Applications will be ranked within the Department of Mathematics and the scholar demonstrating the most academic potential will receive the award.
Outcome of the Award
The successful applicant will be notified by email no later than 1 June 2015. If you have not received confirmation of an award by this date please assume you have been unsuccessful in your application.
9. Agreeing to these terms and conditions and supplying your UK bank details
a) All scholarship and bursary payments will be made to the UK bank account details held on your Student e-Service account. You are able to log into your Student e-Service account and make changes to your bank details at any time after you’ve accepted your admissions offer.
b) By submitting your bank details via the Student Funding tab in Imperial’s Student e-Service portal, and/or bursary form, you are confirming that you agree with the terms and conditions of the award.
c) It may take a few weeks to set up your bursary payments and your UK bank account (if applicable); therefore you should bring sufficient funds to cover your living expenses during this time. Initial payment dates may vary; it is your responsibility to ensure you are aware of when payments will be made.
d) The award is subject to you fulfilling any outstanding conditions of admission.
e) Funds will only be released in line with your registration at College and you will need to ensure your bank details are up to date.
f) Payment Dates: Payments are normally made on the 7th day of each month; bank details should be updated before the 24th day of the preceding month to ensure payment is not delayed. Undergraduate payments will commence from 7th November. Postgraduate payments will commence on the 7th of the month following your registration.
10. Please make sure that you have completed all the steps necessary to register for the academic year in which you wish to receive payment. Please note that new award holders will also need to have fulfilled all of their conditions of offer before they are able to register.
11. All Imperial scholarships are subject to satisfactory academic progression. If the duration of your scholarship is longer than 12 months, it will be renewable annually.
12. Awards will not generally be made to those already holding a full scholarship from another source; please inform Student Financial Support, and/or any other department which has offered you an award, immediately if you are granted more than one award, even if you have already accepted our award. If you wish to hold several partial awards concurrently, this will be considered on a case-by-case basis.
13. Scholarships are not generally awarded to students who are writing-up.
14. Applicants wishing to study at UK partner institutions are not eligible for Imperial College London scholarships.
15. Undergraduate Financial Support / Imperial Bursary Package
a) To be eligible to receive an Imperial Bursary you must have been assessed for means tested funding from Student Finance England (or equivalent funding authority) and have a household income below the Imperial household income threshold for your cohort. You must contact us if this is not the case. Any previous study may affect your entitlement.
b) The College reviews household income information (which it receives from Student Finance England, etc.) on a continuous basis. A change in your household income may result in a change in your Imperial Bursary. Any overpayments will be reclaimed.
c) The Imperial Bursary is available for each year of your course excluding repeat years of study and NHS funded years for Medical courses. If you change from a 3 year to a 4 year course at Imperial you will be awarded a further year’s bursary. You should contact us about any course changes as soon as possible.
d) Students on paid placements might not be eligible for the Imperial Bursary.
e) To be eligible for the Imperial Bursary, we must receive your household income from the Student Loans Company by 1 May following the start of your academic year.
16. If you have been offered funding by the Research Councils, please ensure that you have read the most up-to-date postgraduate funding guide; you will need to adhere to the terms and conditions laid out there.
17. Deferrals, withdrawals and interruption of studies
a) You must inform the Student Financial Support team immediately of any interruptions to your study, particularly if they are likely to affect your attendance and registration status at College.
b) If you withdraw from your course or take an interruption of study (IOS) you must notify us immediately by contacting us here. If you take an IOS your bursary will be postponed until you re-register.
c) Bursaries and scholarships are not transferable. If you transfer to another institution or withdraw from the College, any payments due to you will be cancelled and any overpayments are recoverable.
d) We will not provide scholarship or bursary support for any period of repeat study.
e) Awards cannot be deferred.
18. Student Financial Support may at any time, at their discretion, withdraw or recover an award for breach of any of the above conditions.
19. The College reserves the right to place a limit on financial support where a student is in receipt of other funding.
20. Information on students is shared within the Imperial College community and donors (where applicable and relevant to your award) in accordance with the Data Protection Act 1998.
a) Where awards have specific eligibility criteria (e.g. satisfactory academic progression), supporting evidence may be shared with named donors in order to verify continued eligibility.
b) Award recipients may be expected to meet with donors.
21. If you are in receipt of an award to study that is restricted to students on the basis of nationality or residency; please note that, in accordance with the Equality Act 2010, you must not intend to exercise in Great Britain skills you have obtained as a result of your training at the College and you must not be ordinarily resident in an EEA state.
22. These terms and conditions are the formal rules which regulate centrally funded awards. As such, there are no appeal procedures associated with funding from the Student Financial Support team.
This award is for students starting in the academic year 2015-16 and cannot be deferred.
Tuition fees (2015–2016):