Financial Mathematics MSci Hons - 2018 Entry

UCAS Code
GN1H

Entry Year
2018

A Level Requirements
AAA see all requirements see all requirements

Duration
Full time 4 Year(s)

Course Overview

Financial mathematicians are interested in making good decisions in the face of uncertainty. Through our rigorous Masters programme, you will develop advanced skills and knowledge to become a major decision maker and influencer in your chosen career.

Financial maths is about learning to interpret and manipulate data to draw valuable conclusions and make predictions. This is particularly important in business and finance, but the skills gained from this programme are widely applicable and highly sought after. Over the first three years, you will be able to draw on expertise from three specialist departments: Mathematics and Statistics; Accounting and Finance; and Economics. Studying at Masters-level, you will gain an advanced understanding of the discipline and will develop a greater breadth and depth of financial and mathematical expertise.

During your first year, you will build on your previous knowledge and understanding of mathematical methods and concepts. Modules cover a wide range of topics from calculus, probability and statistics to logic, proofs and theorems. As well as developing your technical knowledge and mathematical skills, you will also enhance your data analysis, problem-solving and quantitative reasoning skills. During this year, you will also receive an introduction to accounting and finance, which will provide you with a comprehensive understanding of the concepts and techniques of the discipline, including financial accounting, managerial finance, and financial statement analysis.

In the second year, you will further develop your knowledge in analysis, probability and statistics. During this year, you will also begin to explore advanced finance and will benefit from modules in economics at managerial level. These will provide you with insight into micro and macroeconomics, and their related issues. You will develop real-world knowledge and experience by applying your analytical skills, interpreting events and evaluating policies. This will be instrumental in developing a career related to banking, finance, international payments and exchange rates, and monetary policy.

During your third year, you will delve deeper into the theory of probability and will explore the concept of statistical inference. Alongside this, you will gain valuable industry and employability skills through a dedicated careers-focused module. This final year will also be highly customisable, allowing you to select from a range of modules to suit your own interests and career aspirations.

In the fourth year, you will benefit from expertise from a fourth specialist department, Management Science. This year will offer you advanced modules in financial maths, which will enhance your existing skills, allow you to gain new ones, and develop a greater level of knowledge in the discipline. You will also benefit from a wide range of optional modules, which can allow you to drive your study towards a specific industry, or enhance your skill set more generally. In addition, you will complete a substantial research project, which will give you the opportunity to put everything you have learnt into practice, and will provide you with valuable insight into real-world projects.

  • Course Overview

    Course Overview

    Financial mathematicians are interested in making good decisions in the face of uncertainty. Through our rigorous Masters programme, you will develop advanced skills and knowledge to become a major decision maker and influencer in your chosen career.

    Financial maths is about learning to interpret and manipulate data to draw valuable conclusions and make predictions. This is particularly important in business and finance, but the skills gained from this programme are widely applicable and highly sought after. Over the first three years, you will be able to draw on expertise from three specialist departments: Mathematics and Statistics; Accounting and Finance; and Economics. Studying at Masters-level, you will gain an advanced understanding of the discipline and will develop a greater breadth and depth of financial and mathematical expertise.

    During your first year, you will build on your previous knowledge and understanding of mathematical methods and concepts. Modules cover a wide range of topics from calculus, probability and statistics to logic, proofs and theorems. As well as developing your technical knowledge and mathematical skills, you will also enhance your data analysis, problem-solving and quantitative reasoning skills. During this year, you will also receive an introduction to accounting and finance, which will provide you with a comprehensive understanding of the concepts and techniques of the discipline, including financial accounting, managerial finance, and financial statement analysis.

    In the second year, you will further develop your knowledge in analysis, probability and statistics. During this year, you will also begin to explore advanced finance and will benefit from modules in economics at managerial level. These will provide you with insight into micro and macroeconomics, and their related issues. You will develop real-world knowledge and experience by applying your analytical skills, interpreting events and evaluating policies. This will be instrumental in developing a career related to banking, finance, international payments and exchange rates, and monetary policy.

    During your third year, you will delve deeper into the theory of probability and will explore the concept of statistical inference. Alongside this, you will gain valuable industry and employability skills through a dedicated careers-focused module. This final year will also be highly customisable, allowing you to select from a range of modules to suit your own interests and career aspirations.

    In the fourth year, you will benefit from expertise from a fourth specialist department, Management Science. This year will offer you advanced modules in financial maths, which will enhance your existing skills, allow you to gain new ones, and develop a greater level of knowledge in the discipline. You will also benefit from a wide range of optional modules, which can allow you to drive your study towards a specific industry, or enhance your skill set more generally. In addition, you will complete a substantial research project, which will give you the opportunity to put everything you have learnt into practice, and will provide you with valuable insight into real-world projects.

  • Entry Requirements

    Entry Requirements

    Grade Requirements

    A Level AAA including A level Mathematics or Further Mathematics OR AAB including A level Mathematics and Further Mathematics

    IELTS 6.5 overall with at least 5.5 in each component. For other English language qualifications we accept, please see our English language requirements webpages.

    Other Qualifications

    International Baccalaureate 36 points overall with 16 points from the best 3 Higher Level subjects including 6 in Mathematics HL

    BTEC May be accepted alongside A level Mathematics grade A and Further Mathematics grade A

    Access to HE Diploma May occasionally be accepted

    STEP Paper or the Test of Mathematics for University Admission Please note it is not a compulsory entry requirement to take these tests, but for applicants who are taking any of the papers alongside Mathematics and/or Further Mathematics we may be able to make a more favourable offer. Full details can be found on the Mathematics and Statistics webpage.

    We welcome applications from students with a range of alternative UK and international qualifications, including combinations of qualification. Further guidance on admission to the University, including other qualifications that we accept, frequently asked questions and information on applying, can be found on our general admissions webpages.

    Contact Admissions Team + 44 (0) 1524 592028 or via ugadmissions@lancaster.ac.uk

  • Course Structure

    Course Structure

    Many of Lancaster's degree programmes are flexible, offering students the opportunity to cover a wide selection of subject areas to complement their main specialism. You will be able to study a range of modules, some examples of which are listed below.

    Year 1

      Core

    Year 2

      Core

      Optional

    Year 3

      Core

      Optional

    Year 4

      Core

      Optional

    Lancaster University offers a range of programmes, some of which follow a structured study programme, and others which offer the chance for you to devise a more flexible programme. We divide academic study into two sections - Part 1 (Year 1) and Part 2 (Year 2, 3 and sometimes 4). For most programmes Part 1 requires you to study 120 credits spread over at least three modules which, depending upon your programme, will be drawn from one, two or three different academic subjects. A higher degree of specialisation then develops in subsequent years. For more information about our teaching methods at Lancaster visit our Teaching and Learning section.

    Information contained on the website with respect to modules is correct at the time of publication, but changes may be necessary, for example as a result of student feedback, Professional Statutory and Regulatory Bodies' (PSRB) requirements, staff changes, and new research.

  • Careers

    Careers

    Financial maths graduates are very versatile, having in-depth specialist knowledge and a wealth of skills. Through this degree, you will graduate with a comprehensive skill set, including data analysis and manipulation, logical thinking, problem-solving and quantitative reasoning, as well as adept knowledge of the discipline. As a result, financial mathematicians are sought after in a range of industries. However, graduates of this programme are ideally placed to forge rewarding careers in the business and finance, and government sectors.

    The starting salary for many financial maths graduate roles is highly competitive, and career options include:

    • Actuary
    • Data Analyst
    • Finance Manager
    • Financial Analyst
    • Insurance Underwriter
    • Investment Analyst
    • Market Researcher

    Alternatively, you may wish to undertake postgraduate study at Lancaster and pursue a career in research and teaching.

  • Fees and Funding

    Fees and Funding

    Fees

    We set our fees on an annual basis and the 2018/19 entry fees have not yet been set.

    As a guide, our fees in 2017 were:

    UK/EU Overseas
    £9,250 £17,410

    Channel Islands and the Isle of Man

    Some science and medicine courses have higher fees for students from the Channel Islands and the Isle of Man. You can find more details here: Island Students.

    Funding

    For full details of the University's financial support packages including eligibility criteria, please visit our fees and funding page

    Students also need to consider further costs which may include books, stationery, printing, photocopying, binding and general subsistence on trips and visits. Following graduation it may be necessary to take out subscriptions to professional bodies and to buy business attire for job interviews. 

Completion of this programme can lead to recommendation for exemption from some examinations with the Institute and Faculty of Actuaries.
Completion of this programme can lead to recommendation for exemption from some examinations with the Institute and Faculty of Actuaries.

Learn More

29%

Average time in lectures, seminars and similar

27%

Average assessment by coursework