MSc in Mathematical Finance Learning Outcomes

Knowledge and Understanding

At the end of the course students will be expected to:

  • demonstrate a broad, systematic and critical knowledge of the mathematical, statistical and computing methods appropriate for specifying mathematical problems in banks and other financial institutions;
  • demonstrate a comprehensive understanding of the most common applications of mathematics in finance and recent extensions thereof;
  • demonstrate an ability to select and apply numerical methods appropriate for the solution of financial problems, and
  • demonstrate familiarity with emerging mathematical techniques appropriate in banks and other financial institutions.

Cognitive/Intellectual Skills

 

At the end of the course students will be expected to:

  • determine and select the most appropriate standard mathematical, statistical and computing methods appropriate for specifying mathematical problems in banks and other financial institutions through a critical understanding of the relative advantages of these methods, and to develop extensions to these methods appropriate for the solution of non-standard problems;
  • know the main features of models commonly applied in financial firms, be able to express these mathematically and be able to appraise their utility and effectiveness;
  • explain and critically appraise the rationale for the selection of mathematical tools used in the analysis of common financial problems;
  • be able to demonstrate the appropriateness of modelling or numerical solutions in analysing common problems in banks and other financial institutions;
  • be able to select and apply numerical solutions in some areas of finance, and
  • be able to undertake a piece of directed research in mathematical finance.

Transferable/Key Skills

 

Students will be expected to have developed a range of transferable skills including:

  • skills in managing their own learning and conducting independent and effective study;
  • skills in applying cross-disciplinary techniques of analysis (for example, to the domain of finance from pure and applied mathematics and other disciplines);
  • skills in problem specification (analytical and, where appropriate, numerical);
  • skills in applying mathematical and computational methods to problem solution in industrial contexts;
  • skills in the mathematical analysis of abstract problems, and
  • skills in managing research-based work in mathematical finance, especially in any industrial setting.

Discipline-specific Practical Skills

 

Students will be able to:

  • carry out an extended research project involving a literature review, problem specification and analysis in mathematical finance and produce a dissertation, and
  • demonstrate knowledge of a range of specific mathematical techniques in finance