A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | ACADEMIC QUALITY TEAM | |||||||||||||||
2 | Programme Specifications 2023-24 | |||||||||||||||
3 | Revised February 2023 | |||||||||||||||
4 | ||||||||||||||||
5 | ||||||||||||||||
6 | Programme Title | MSc. Mathematical Finance | ||||||||||||||
7 | ||||||||||||||||
8 | This document applies to students who commenced the programme(s) in: | September 2023 | Award type | MSc | ||||||||||||
9 | ||||||||||||||||
10 | What level is this qualification? | 7(M) | Length of programme | 1 year | ||||||||||||
11 | ||||||||||||||||
12 | Mode of study (Full / Part Time) | Full Time | ||||||||||||||
13 | ||||||||||||||||
14 | Will the programme use standard University semester dates? | Yes | For York Online programmes, will standard dates for such programmes be used? | Yes | ||||||||||||
15 | ||||||||||||||||
16 | Awarding institution | University of York | Board of Studies for the programme | TBA | ||||||||||||
17 | ||||||||||||||||
18 | Lead department | Department of Mathematics | Other contributing departments | School for Business and Society and Department of Economics and Related Subjects | ||||||||||||
19 | ||||||||||||||||
20 | Language of study and assessment | English | Language(s) of assessment | English | ||||||||||||
21 | ||||||||||||||||
22 | Is this a campus-based or online programme? | Campus Based | ||||||||||||||
23 | ||||||||||||||||
24 | Partner organisations | |||||||||||||||
25 | If there are any partner organisations involved in the delivery of the programme, please outline the nature of their involvement. You may wish to refer to the Policy on Collaborative Provision | |||||||||||||||
26 | N/A | |||||||||||||||
27 | ||||||||||||||||
28 | Reference points | |||||||||||||||
29 | Please state relevant reference points consulted in the design of this programme (for example, relevant documentation setting out PSRB requirements; the University's Frameworks for Programme Design (UG or PGT); QAA Subject Benchmark Statements; QAA Qualifications and Credit Frameworks). | |||||||||||||||
30 | QAA subject benchmark: finance; QAA subject benchmark: Mathematics, Statistics and Operational Research. | |||||||||||||||
31 | ||||||||||||||||
32 | Credit Transfer and Recognition of Prior Learning | |||||||||||||||
33 | Will this programme involve any exemptions from the University Policy and Procedures on Credit Transfer and the Recognition of Prior Learning? If so, please specify and give a rationale | |||||||||||||||
34 | N/A | |||||||||||||||
35 | ||||||||||||||||
36 | Exceptions to Regulations | |||||||||||||||
37 | Please detail any exceptions to University Award Regulations and Frameworks that need to be approved (or are already approved) for this programme. This should include any that have been approved for related programmes and should be extended to this programme. | |||||||||||||||
38 | N/A | |||||||||||||||
39 | ||||||||||||||||
40 | Internal Transfers | |||||||||||||||
41 | Please use the boxes below to specify if transfers into / out of the programme from / to other programmes within the University are possible by indicating yes or no and listing any restrictions. These boxes can also be used to highlight any common transfer routes which it would be useful for students to know. | |||||||||||||||
42 | ||||||||||||||||
43 | Transfers in: | Yes - if the admission criteria is the same for the programme. | Transfers out: | Yes - if the admission criteria is the same for the programme. | ||||||||||||
44 | ||||||||||||||||
45 | ||||||||||||||||
46 | Statement of Purpose | |||||||||||||||
47 | Please briefly outline the overall aims of the programme. This should clarify to a prospective student why they should choose this programme, what it will provide to them and what benefits they will gain from completing it. | |||||||||||||||
48 | The MSc in Mathematical Finance will train students in a wide variety of advanced mathematical, computational and research techniques - including but not limited to, stochastic analysis, numerical and statistical methods - at a sufficiently advanced technical level to enable them to progress into a career as a mathematical finance specialist within the finance industry or prepare for a PhD in this and related fields. It is particularly relevant for students who enter the programme with an undergraduate degree in Mathematics or a closely related subject, and wish to further shape their mathematical skills in order to progress into a specialised role in financial risk management, fixed income products, and/or derivative securities either as practitioners or in an academic research career. It will also be relevant for graduates with a strong mathematical background who are considering a career in the actuarial profession. Students will be taught by world leading experts in the field of Mathematical Finance as well as by subject experts in a range of other relevant fields in a way that reflects the interdisciplinary approach that the University of York takes to the study of finance. After completing the programme, you will have acquired the knowledge and experience necessary to work in a trading or research and development role in the quantitative finance industry or to embark on a PhD programme in Mathematical Finance or related fields. | |||||||||||||||
49 | ||||||||||||||||
50 | ||||||||||||||||
51 | ||||||||||||||||
52 | ||||||||||||||||
53 | ||||||||||||||||
54 | ||||||||||||||||
55 | ||||||||||||||||
56 | If there are additional awards associated with the programme upon which students can register, please specify the Statement of Purpose for that programme. This will be most relevant for PGT programmes with exit awards that are also available as entry points. Use additional rows to include more than one additional award. Do not include years in industry / abroad (for which there are separate boxes). | |||||||||||||||
57 | Exit Award Title | Is the exit award also available as an entry point? | Outcomes: what will the student be able to do on exit with this award? | Specify the module diet that the student will need to complete to obtain this exit award | ||||||||||||
58 | Masters (MSc) Mathematical Finance | Entry and Exit | All Seven PLOs to be completed | Modules normally Level 7(M). At least 150* credits at Level 7(M); maximum 30 credits at Level 6(H) | ||||||||||||
59 | Post Graduate Diploma (PGDip) Matrhematical Finance | Exit Only | PLO 1 - 6 inclusive to be compeleted | Modules normally Level 7(M). At least 90*credits at Level 7(M); maximum 30 credits at Level 6(H)$ | ||||||||||||
60 | Post Graduate Certificate (PGCert) Mathematical Finance | Exit Only | PLO 1 - 6 inclusive to be compeleted | Modules normally Level 7(M). At least 40 credits at Level 7(M); maximum 20 credits at Level 6(H)$. | ||||||||||||
61 | *Note: these award requirements reflect the minimum requirements set out in the QAA’s Framework for Higher Education Qualifications. For programmes using the 20-credit common modular currency, the expectation for design would be at least 160 credits at Level 7(M) for Masters and at least 100 credits at Level 7(M) for Postgraduate Diplomas. $ See also 3.5 below. | |||||||||||||||
62 | ||||||||||||||||
63 | Programme Learning Outcomes | |||||||||||||||
64 | What are the programme learning outcomes (PLOs) for the programme? (Normally a minimum of 6, maximum of 8). Taken together, these outcomes should capture the distinctive features of the programme and represent the outcomes that students progressively develop in the programme and achieve at graduation. PLOs should be worded to follow the stem 'Graduates will be able to...' | |||||||||||||||
65 | 1 | Use with a high degree of confidence and sophistication a range of mathematical models of financial securities: stocks, fixed income securities (including the term structure of interest rates), and derivative securities. | ||||||||||||||
66 | 2 | Critically analyse the application of mathematical techniques involved in pricing, hedging and analysis of derivative securities, in both discrete and continuous time market models. | ||||||||||||||
67 | 3 | Use logical reasoning as a basis for the critical analysis of ideas or statements which have a mathematical finance context, and develop independently their own ideas using well-founded reasoning. | ||||||||||||||
68 | 4 | Design numerical algorithms and develop computing codes in spreadsheets, programming languages and/or symbolic computation software to implement solutions and prepare relevant documentation. | ||||||||||||||
69 | 5 | Communicate advanced topics in mathematical finance analyses and associated conclusions clearly, in writing or in a presentation, at a level appropriate for the intended audience. | ||||||||||||||
70 | 6 | Encourage students to consider the potential for applications of mathematical finance within the wider society, beyond pure monetary advance. | ||||||||||||||
71 | 7 | Research selected topics of current interest in Mathematical Finance in depth; link recent theoretical developments with modern financial market practice. | ||||||||||||||
72 | ||||||||||||||||
73 | Diverse entry routes | |||||||||||||||
74 | Detail how you would support students from diverse entry routes to transition into the programme. For example, disciplinary knowledge and conventions of the discipline, language skills, academic and writing skills, lab skills, academic integrity. | |||||||||||||||
75 | This programme is a specialised programme focused on developing those graduates with prior experience of mathematics. Subsequently the programme has entry requirements established to allow entry for graduates with an upper second-class overall grade in an undergraduate degree specialising in mathematics. | |||||||||||||||
76 | ||||||||||||||||
77 | ||||||||||||||||
78 | Inclusion | |||||||||||||||
79 | ||||||||||||||||
80 | Please confirm by ticking the box on the right that the design, content and delivery of the programme will support students from all backgrounds to succeed. This refers to the University's duties under the Equality Act 2010. You may wish to refer to the optional Inclusive Learning self-assessment tools to support reflection on this issue. | |||||||||||||||
81 | ||||||||||||||||
82 | Employability | |||||||||||||||
83 | Please give a brief overview - no more than 5 sentences - of how the programmes helps develop students' employability. Your Faculty Employability Manager can help reflection on this issue. This statement will be used by Marketing as the basis for external content with respect to employability. | |||||||||||||||
84 | Upon successful completion of this course, you can embark on careers in trading and pricing derivative financial securities (options, futures, forwards, and the like), fund management, risk management, research and development. This course will provide you with the theoretical knowledge and technical skills needed for financial roles in organisations around the world. This course will help you acquire or develop the analytical and decision-making skills in mathematics, economics and finance you need for a successful career in a wide range of organisations. This course will also help build your qualifications for a career in actuarial science, accountancy, investments, risk analysis, finance or financial management and can act as an ideal basis for progression to a PhD. The skills that you will develop are in demand far beyond the financial services industry and other career opportunities would lie in many commercial activities. | |||||||||||||||
85 | ||||||||||||||||
86 | ||||||||||||||||
87 | ||||||||||||||||
88 | ||||||||||||||||
89 | ||||||||||||||||
90 | ||||||||||||||||
91 | [For Undergraduate and Integrated Masters Programmes Only] | |||||||||||||||
92 | Are you offering any variations of this programme, such as additional years abroad or industry? | |||||||||||||||
93 | ||||||||||||||||
94 | Year abroad | Will the year abroad programme be available directly via UCAS; for students to transfer in having entered the main programme; or both? | Inappropriate | |||||||||||||
95 | ||||||||||||||||
96 | Year in industry | Will the year in industry programme be available directly via UCAS; for students to transfer in having entered the main programme; or both? | Inappropriate | |||||||||||||
97 | ||||||||||||||||
98 | Year in enterprise | |||||||||||||||
99 | ||||||||||||||||
100 | Placement year |