MSc Financial Engineering Programme Specification 2024-25

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1	ACADEMIC QUALITY TEAM
2	Programme Specifications 2024-25
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5	Programme Title			MSc Financial Engineering
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7	This document applies to students who commenced the programme(s) in:			2024			Award type			MSc
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9	What level is this qualification?			7			Length of programme			1 Year
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11	Mode of study (Full / Part Time)			Full Time
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13	Will the programme use standard University semester dates?			Yes			For York Online programmes, will standard dates for such programmes be used?			N/A
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15	Awarding institution			University of York			Board of Studies for the programme			Mathematics
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17	Lead department			Department of Mathematics			Other contributing departments			School for Business and Society and the Department of Economics and Related Studies.
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19	Language of study and assessment			English			Language(s) of assessment			English
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21	Is this a campus-based or online programme?			Campus
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23	Partner organisations
24	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
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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	N/A
31	N/A
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33	Credit Transfer and Recognition of Prior Learning
34	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
35	N/A
36	N/A
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38	Exceptions to Regulations
39	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.
40	N/A
41	N/A
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43	Internal Transfers
44	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.
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46		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.
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49	Statement of Purpose
50	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.
51	The MSc in Financial Engineering provides a high-quality postgraduate-level course that combines methods of applied and computational mathematics with those of econometrics and quantitative finance. Graduates of this programme have the technical, analytical and problem-solving skills required to undertake roles in quantitative finance in investment banks and other financial institutions. The MSc also equips graduates for roles in fund management, insurance, the actuarial profession, taxation, or for continued study to PhD level. After successfully completing the MSc you will be able to use, with a high level of confidence and sophistication, the financial mathematical language and tools that underpin a wide range of research and applications in science, technology and industry. This programme is part of the rich and active research environment in Financial Mathematics at York. You will benefit from cutting-edge expertise in the full range of disciplines that contribute to the field of financial engineering and the latest developments in financial markets.
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62	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).
63	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
64	Post Graduate Diploma (PGDip) Financial Engineering.			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)$.
65	Post Graduate Certificate (PGCert) Financial Engineering.			Exit Only	PLO 1 - 6 inclusive to be compeleted.				Modules normally Level 7(M). At least 40 credits at Level 7(M); maximum 20 credits at Level 6(H)$.
66	*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.
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68	Programme Learning Outcomes
69	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...'
70	1	Evaluate complex and unpredictable financial problems and formulate effective strategies to resolve them using financial mathematical investigation techniques.
71	2	Proficiently deploy mathematical, financial and computational languages and tools to address real world financial problems, including working flexibly with specific mathematical and statistical software.
72	3	Critically analyse mathematical, theoretical and financial models and statements to determine their validity with the aim of revising and adapting them to various contexts in an informed and well-reasoned fashion.
73	4	Identify and adapt appropriate statistical models to analyse econometric data with the aim of determining patterns of unpredictable stochastic shocks and predicting potential future financial outcomes.
74	5	Communicate technical information clearly, combining expert and proficient use of mathematical, statistical and financial terminology with more intuitive summaries of complex concepts for any non-expert readers.
75	6	Handle different disciplinary and professional contexts through adapting formal mathematical and computation logic to financial and statistical applications.
76	7	Research selected topics of current interest in Financial Engineering in depth; link recent theoretical developments with modern financial market practice.
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78	Diverse entry routes
79	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.
80	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.
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84	Inclusion
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86	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.										TRUE
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88	Employability
89	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.
90	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 also 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, investments, risk analysis or finance 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.
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97	[For Undergraduate and Integrated Masters Programmes Only]
98	Are you offering any variations of this programme, such as additional years abroad or industry?
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100	Year abroad			FALSE		Will the year abroad programme be available directly via UCAS; for students to transfer in having entered the main programme; or both?				N/A