Mathematics and Finance

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Academic Year of Entry: 2015/16 - 2016/17 - 2017/18 - 2018/19 - 2019/20 - 2020/21 - 2021/22 - 2022/23 - 2023/24
Course overview
(MSc) Master of Science
Mathematics and Finance
Current
University of Essex
University of Essex
Mathematics, Statistics and Actuarial Science (School of)
Colchester Campus
Masters
Full-time
None
MSC GN1312
24/10/2012

Details

Professional accreditation

None

Admission criteria

A degree with an overall 2:1.

IELTS (International English Language Testing System) code

IELTS 6.0 overall with a minimum component score of 5.5

Course qualifiers

A course qualifier is a bracketed addition to your course title to denote a specialisation or pathway that you have achieved via the completion of specific modules during your course. The specific module requirements for each qualifier title are noted below. Eligibility for any selected qualifier will be determined by the department and confirmed by the final year Board of Examiners. If the required modules are not successfully completed, your course title will remain as described above without any bracketed addition. Selection of a course qualifier is optional and student can register preferences or opt-out via Online Module Enrolment (eNROL).

None

Rules of assessment

Rules of assessment are the rules, principles and frameworks which the University uses to calculate your course progression and final results.

Additional notes

None

External examiners

External Examiners provide an independent overview of our courses, offering their expertise and help towards our continual improvement of course content, teaching, learning, and assessment. External Examiners are normally academics from other higher education institutions, but may be from the industry, business or the profession as appropriate for the course. They comment on how well courses align with national standards, and on how well the teaching, learning and assessment methods allow students to develop and demonstrate the relevant knowledge and skills needed to achieve their awards. External Examiners who are responsible for awards are key members of Boards of Examiners. These boards make decisions about student progression within their course and about whether students can receive their final award.

Key

Core You must take this module.
You must pass this module. No failure can be permitted.
Core with Options You can choose which module to study.
You must pass this module. No failure can be permitted.
Compulsory You must take this module.
There may be limited opportunities to continue on the course/be eligible for the degree if you fail.
Compulsory with Options You can choose which module to study.
There may be limited opportunities to continue on the course/be eligible for the degree if you fail.
Optional You can choose which module to study.
There may be limited opportunities to continue on the course/be eligible for the degree if you fail.

Year 1 - 2015/16

Exit Award Status
Component Number Module Code Module Title Status Credits PG Diploma PG Certificate
01 MA981-7-FY-CO Dissertation Core 60 Core Core
02 BE356-7-SP-CO Financial Modelling Compulsory 20 Compulsory Compulsory
03 BE953-7-AU-CO Research Methods in Finance: Empirical Methods in Finance Compulsory 20 Compulsory Compulsory
04 MA319-7-AU-CO Stochastic Processes Compulsory 15 Compulsory Compulsory
05 MA311-7-SP-CO Mathematics of Portfolios Compulsory 15 Compulsory Compulsory
06 MA902-7-SP-CO Research Methods Core 15 Core Core
07 EC907-7-SP OR BE351-7-SP OR BE651-7-SP Optional 20 Optional Optional
08 OPTION FROM LIST Optional 15 Optional Optional

Exit awards

A module is given one of the following statuses: 'core' – meaning it must be taken and passed; 'compulsory' – meaning it must be taken; or 'optional' – meaning that students can choose the module from a designated list. The rules of assessment may allow for limited condonement of fails in 'compulsory' or 'optional' modules, but 'core' modules cannot be failed. The status of the module may be different in any exit awards which are available for the course. Exam Boards will consider students' eligibility for an exit award if they fail the main award or do not complete their studies.

Programme aims

To offer students the opportunity to study mathematics and finance to an advanced level within an environment informed by current research.

To provide students with advanced training that will be of use in a career as a mathematician or finance agent.

To provide students with training in the preparation of reports involving mathematical material, including correct referencing, appropriate layout and style.

To enhance the transferable skills of students (including IT, presentation skills, problem solving abilities, numeracy and their ability to efficiently retrieve information and use it in an effective manner).

To provide students with information that will help them to make an informed judgement as to the appropriate methods to employ when analysing a mathematics or finance problem.


To provide students with a research-type experience that will aid them in their approach to further research activity.

Learning outcomes and learning, teaching and assessment methods

On successful completion of the programme a graduate should demonstrate knowledge and skills as follows:

A: Knowledge and understanding

A1: A range of ideas concerning Mathematics and Finance, including methods appropriate in specialized applications and some knowledge of relevant probabilistic/statistical/computing ideas.

A2: How to formulate algorithms to solve problems.

A3: Some of the ways in which apparently disparate parts of the subject may interconnect.

A4: Analyse a given problem and select the most appropriate methods for its solution.

Learning methods

A1-A3 are principally acquired through the coherent programmes of lectures, exercises and problem classes.

These are supplemented, where appropriate, by the use of computers, computer packages, textbooks, handouts and on-line material.

In most modules there is regular set work.

This work is marked and this process informs the course teacher of common difficulties that require extra attention during the subsequent problem classes.

A4 is principally acquired through the preparation of an essay and a thesis on specialized topics.

During the production of their written work, students are expected to extend and enhance the basic module material concerning internet searching and the production of mathematical texts.

The research guidance during the summer is a critical aspect of this training learnt through writing assessed and formative coursework and consequent feedback, both written and that obtained in oral sessions.

Assessment methods

Knowledge and understanding are assessed through coursework, examinations, essays and the summer dissertation.

B: Intellectual and cognitive skills

B1: Analyse a mass of information and carry out an appropriate analysis of the problem material.

B2: Express a problem in mathematical terms and carry out an appropriate analysis.

B3: Reason critically and interpret information in a manner that can be communicated effectively.

B4: Integrate and link information across course components.

B5: Under guidance of a supervisor, plan and carry out a piece of research and present the results in a coherent fashion.

Learning methods

B1-B3 These skills are developed through the regular coursework exercises.

In seeking to answer these exercises students become accustomed to identifying key facts in a body of information.

The problems classes provide back-up as required.

B4-B5 These skills are initiated during the course of the preparation of the essay and are further developed during the course of the summer project.

Assessment methods

The level of attainment of these skills is assessed through coursework, the summer examinations, and through examination of the summer project.

C: Practical skills

C1: Model problems in Finance using relevant mathematical tools.

C2: Construct and use algorithms.

C3: Use a mathematical word-processing package

C4: Make an effective literature search

C5: Prepare a technical report

C6: Give a presentation and defend their ideas in an interview.

Learning methods

C1-C2 are developed through the programme of lectures, regular exercises and computer work.

C3-C5 are developed during the course of the preparation of the essay and the thesis.

C5-C6 are developed in MA902.

Assessment methods

C1-C2 is assessed by the regular coursework and examinations.

C3 is assessed in this way and also by any computer output that forms part of the summer project.

C4-C6 are assessed through the MA902 essay and summer thesis.

D: Key skills

D1: Write clearly and effectively

D2: Enhance existing numerical ability

D3: Choose the appropriate method of inquiry in order to address a range of practical and theoretical problems.

D4: Learn from feedback and respond appropriately and effectively to supervision and guidance

D5: Work pragmatically to meet deadlines.

Learning methods

D1 is promoted by the supervisor of the essay and thesis work and by class teachers’ feedback on written solutions to problems.

D2 is a natural consequence of courses with high numeric content.

D3 is a consequence of the coursework, problems classes, lectures and laboratory work.

D4-D5 result from a tightly timetabled course of lectures and submission dates that require the student to effectively organise time to meet deadlines.

Assessment methods

Key skills are assessed throughout the degree via coursework, examinations, the essay and the summer project.


Note

The University makes every effort to ensure that this information on its programme specification is accurate and up-to-date. Exceptionally it can be necessary to make changes, for example to courses, facilities or fees. Examples of such reasons might include a change of law or regulatory requirements, industrial action, lack of demand, departure of key personnel, change in government policy, or withdrawal/reduction of funding. Changes to courses may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will also keep students informed appropriately by updating our programme specifications.

The full Procedures, Rules and Regulations of the University governing how it operates are set out in the Charter, Statutes and Ordinances and in the University Regulations, Policy and Procedures.

Contact

If you are thinking of studying at Essex and have questions about the course, please contact Undergraduate Admissions by emailing admit@essex.ac.uk, or Postgraduate Admissions by emailing pgadmit@essex.ac.uk.

If you're a current student and have questions about your course or specific modules, please contact your department.

If you think there might be an error on this page, please contact the Course Records Team by emailing crt@essex.ac.uk.