A challenging combination of rigorous academic study and practical career-oriented skills, this course is ideal for students wanting both knowledge of the main theoretical and applied concepts of finance and the mathematical methods needed to value innovative financial instruments.
The MSc Mathematical Finance is designed to produce well-rounded graduates equally suited to life in the financial world or in academia. It is particularly relevant to people working in, or planning to specialise in, derivative securities, investment, risk management or hedge funds, while also providing the necessary skills for subsequent doctoral work
School of Mathematics and Manchester Business School work together to give you advanced knowledge and understanding of finance at a mathematical level. Using current issues as a stimulus to teaching and learning, the course is delivered through lectures, case studies, seminars and group project-based work.
You gain an international perspective from working alongside staff and students from many different countries, and also have the opportunity to network through the School's alumni group
Typical course units will include: Derivative Securities; Foundations of Finance Theory; Martingales with Applications to Finance; Stochastic Calculus; Brownian Motion; Computational Finance; Financial Econometrics; and Stochastic Modelling in Finance.
For the dissertation, students will carry out an original piece of research on a subject relating to the programme. Our MSc dissertation topics are aligned with the research interests of leading financial institutions from the City of London and internationally.
A number of dissertation topics are proposed by senior members of these organisations and if approved are supervised by our academic staff. Successful completion could require a number of consultations between the student and financial institution officers, leading to a final presentation of findings.
Some of the organisations offering dissertation topics in 2006/07 include:
* Alliance and Leicester
* Standard Bank
* Morgan Stanley
* ABN AMRO
* Numerical Algorithms Group (N.A.G.)
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.