Mathematical Finance MSc
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The School of Mathematics and Alliance Manchester Business School at the University of Manchester have combined their academic strength and practical expertise to deliver the MSc in Mathematical Finance (UK 1 year), ensuring that students can experience both the mathematical and economic perspective of the subject.
This is also supported by invited lectures from senior staff members of leading financial institutions and outstanding mathematicians who are internationally recognised for contributions to Mathematical Finance. Past lectures include:
Professor M. Schweizer (ETH Zurich and Swiss Finance Institute) An overview of quadratic hedging and related topics
Professor H. Follmer (Humboldt University of Berlin) Monetary valuation of cash flows under Knightian uncertainty
Professor M. H. A. Davis (Imperial College London) Contagion models in credit risk
The course provides students with advanced knowledge and understanding of the main theoretical and applied concepts in Mathematical Finance delivered from a genuinely international and multi-cultural perspective with a current issues approach to teaching. The focus is on mathematical theory and modelling, drawing from the disciplines of probability theory, scientific computing and partial differential equations to derive relations between asset prices and interest rates, and to develop models for pricing, risk management and financial product development.
The finance industry demands recruits with strong quantitative skills and the course is intended to prepare students for careers in this area. The course provides training for those who seek a career in the finance industry specialising in derivative securities, investment, risk management and hedge funds. It also provides research skills for those who subsequently wish to pursue research and/or an academic career (e.g. university lecturer) or continue the study at doctoral level, particularly those wishing to pursue further/advanced studies in Mathematical Finance.
First term course units (autumn): Derivative Securities; Foundations of Finance Theory; Martingales with Applications to Finance; Stochastic Calculus.
Second term course units (spring): Brownian Motion; Computational Finance; Time Series Analysis and Forecasting in Finance; Stochastic Modelling in Finance.
Third term dissertation project (summer): In this term students will conduct an original study of a topic relating to the programme and write an MSc dissertation.
All fees for entry will be subject to yearly review and incremental rises per annum are also likely over the duration of courses lasting more than a year for UK/EU students (fees are typically fixed for International students, for the course duration at the year of entry). For general fees information please visit: postgraduate fees . Always contact the department if you are unsure which fee applies to your qualification award and method of attendance.
Self-funded international applicants for this course will be required to pay a deposit of £1000 towards their tuition fees before a confirmation of acceptance for studies (CAS) is issued. This deposit will only be refunded if immigration permission is refused. We will notify you about how and when to make this payment.