Financial Mathematics (2023)
1. Programme Title:Financial Mathematics |
NQF Level: |
7 |
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2. Description of the Programme (as in the Business Approval Form) |
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This is a specialist Masters programme taught by the College of Engineering, Mathematics, and Physical Sciences (EMPS) in conjunction with the University of Exeter Business School. It provides an ideal introduction to a career in finance for those with a strong mathematical background. The programme is flexible, allowing you to study over either a nine-month or a twelve-month programme, based in either EMPS or the Business School depending on your focus of interest. Whichever route you choose, you will be able to take advantage of the Business School’s financial expertise as well as the mathematical expertise available in EMPS. This degree programme will prepare you for careers in international banking, international business, or public service. |
3. Educational Aims of the Programme |
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4. Programme Structure |
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Your Financial Mathematics programme is a (1) year programme of study at National Qualification Framework (NQF) level (7) (as confirmed against the FHEQ). This programme is divided into (1) ‘Stage’. Each Stage is normally equivalent to an academic year. The programme is also divided into units of study called ‘modules’ which are assigned a number of ‘credits’. The credit rating of a module is proportional to the total workload, with 1 credit being nominally equivalent to 10 hours of work.
If you do not complete the programme you may be able to exit with a lower qualification. Postgraduate Certificate: At least 60 credits of which 45 or more must be at level M. |
5. Programme Modules |
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The following tables describe the programme and constituent modules. Constituent modules may be updated, deleted or replaced as a consequence of the annual programme review of this programme. Details of the modules currently offered may be obtained from the Faculty web site
You may take Option Modules as long as any necessary prerequisites have been satisfied, where the timetable allows and if you have not already taken the module in question or an equivalent module. Descriptions of the individual modules are given in full on the Faculty web site |
Stage 1
Code | Title | Credits | Compulsory | NonCondonable |
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BEAM047 | Fundamentals of Financial Management | 15 | Yes | No |
ECMM410 | Research Methodology | 15 | Yes | No |
MTHM002 | Methods for Stochastics and Finance | 15 | Yes | No |
MTHM003 | Analysis and Computation for Finance | 15 | Yes | No |
MTHM006 | Mathematical Theory of Option Pricing | 15 | Yes | No |
MTHM021 | Advanced Mathematics Project | 60 | Yes | Yes |
Select 45 credits: | ||||
BEAM029 | Topics in Financial Economics | 15 | No | No |
BEAM032 | Investment Analysis 1 | 15 | No | No |
BEAM033 | Banking and Financial Services | 15 | No | No |
BEAM035 | Derivatives Pricing | 15 | No | No |
BEAM036 | Domestic and International Portfolio Management | 15 | No | No |
BEAM038 | Investment Analysis II | 15 | No | No |
BEAM046 | Financial Modelling | 15 | No | No |
BEAM050 | Advanced Corporate Finance | 15 | No | No |
BEAM054 | Alternative Investments | 15 | No | No |
BEEM012 | Applied Econometrics 2 | 15 | No | No |
BEEM102 | Quantitative and Research Techniques | 15 | No | No |
ECMM4XX | Level M Computer Science module | 15 | No | No |
MTHM018 | Dynamical Systems and Chaos | 15 | No | No |
MTHM048 | Ergodic Theory | 15 | No | No |
MTHXXXX | Level 3 or Level M Mathematics Modules | 30 | No | No |
Optional modules are available subject to approval, pre-requisites, timetabling and availability.
6. Programme Outcomes Linked to Teaching, Learning & Assessment Methods |
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On successfully completing the programme you will be able to: | Intended Learning Outcomes (ILOs) will be accommodated & facilitated by the following learning & teaching and evidenced by the following assessment methods: | |||
A Specialised Subject Skills & KnowledgeDemonstrate:
(1) Competence in the essential mathematical, statistical and numerical background required for understanding the principles of mathematical finance and mathematical economics. | Learning & Teaching ActivitiesThe modules will be delivered by a mixture of formal lectures, tutorial classes and computer practical sessions. Example sheets and other assignments will be set and marked by the module leader. Students will be expected to read the assigned texts and for the project module to get useful information from the web and from journals. Assistance will be given during tutorials and office hours will be available for individual students to help overcome any difficulties. Collaborations between groups of students will be encouraged, so as to enable students to learn from each other and to develop teamwork skills. The projects will be individually supervised, with a weekly meeting (typically one hour) between supervisor and student. The modules ECMM702 and BEEM114 (if taken) will be used to develop (1), and ECMM703 to develop (2). (3) is an important part of ECMM706. The module BEAM044 will develop (4), and the project will ensure (5). | |||
Assessment MethodsThese skills will be tested by the marking of coursework, by examination and by the marking of the project. | ||||
B Academic Discipline Core Skills & Knowledge
(1) develop rigorous theoretical arguments based on mathematical reasoning | Learning & Teaching Activities
(1) and (2) Achieved through the modules ECMM702, ECMM703 and BEEM012, and tested through the specific financial modelling modules. | |||
Assessment MethodsThese skills will be tested by the marking of coursework, by examination and by the marking of the project. | ||||
C Personal / Transferable / Employment Skills & Knowledge
(1) use software packages for mathematical word processing to produce substantial and well presented documents | Learning & Teaching Activities
(1) and (2) required for the project | |||
Assessment MethodsAssessed through the project and the coursework of the modules. |
7. Programme Regulations |
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Credit The programme consists of 180 credits with 90 credits taken at each stage where the programme is offered part time. The pass mark for award of credit in an individual PG module is 50%. Progression Condonement is the process that allows you to be awarded credit (and so progress to the next stage or, in the final stage, receive an award), despite failing to achieve a pass mark at a first attempt. You are not entitled to reassessment in condoned credit. Up to (45/30/20) credits of failure can be condoned on the following conditions:
Assessment and Awards The award will normally be based on at least 180 credits of which 150 or more must be at level M Classification The marking of modules and the classification of awards broadly corresponds to the following percentage marks: Postgraduate Degrees Distinction 70%+ Merit 60-69% Pass 50-59% Full details of PGT programmes assessment regulations can be found in the Teaching Quality Assurance Manual (TQA) on the University of Exeter website. Generic marking criteria are also published here. Please see the Teaching and Quality Assurance Manual for further guidance. |
8. College Support for Students and Students' Learning |
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In accordance with University policy a system of personal tutors is in place for all students on this programme. A University-wide statement on such provision is included in the University's TQA Manual. As a student enrolled on this programme you will receive the personal and academic support of the Programme Coordinator and will have regular scheduled meetings with your Personal Tutor; you may request additional meetings as and when required. The role of personal tutors is to provide you with advice and support for the duration of the programme and extends to providing you with details of how to obtain support and guidance on personal difficulties such as accommodation, financial difficulties and sickness. You can also make an appointment to see individual teaching staff. Information Technology (IT) Services provide a wide range of services throughout the Exeter campuses including open access computer rooms, some of which are available 24 hours, 7 days a week. Help may be obtained through the Helpdesk, and most study bedrooms in halls and flats are linked to the University's campus network. Additionally, the College has its own dedicated IT support staff, helpdesk and computer facilities which are linked to the wider network, but which also provide access to some specialised software packages. Email is an important channel of communication between staff and students in the College and an extensive range of web-based information (see https://intranet.exeter.ac.uk/emps/ ) is maintained for the use of students, including a comprehensive and annually revised student handbook. The Harrison Learning Resource Centre is generally open during building open hours. The Centre is available for quiet study, with four separate rooms that can be booked for meetings and group work. Amongst its facilities, the Learning Resource Centre has a number of desks, four meeting rooms with large LCD screens, and free use of a photocopier. Also available are core set texts from your module reading lists, and undergraduate and MSc projects from the past two years. Online Module study resources provide materials for modules that you are registered for, in addition to some useful subject and IT resources. Generic study support resources, library and research skills, past exam papers, and the 'Academic Honesty and Plagiarism' module are also available through the student portal (http://vle.exeter.ac.uk)
Student/Staff Liaison Committee enables students & staff to jointly participate in the management and review of the teaching and learning provision. |
10. Admission Criteria |
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All applications are considered individually on merit. The University is committed to an equal opportunities policy with respect to gender, age, race, sexual orientation and/or disability when dealing with applications. It is also committed to widening access to higher education to students from a diverse range of backgrounds and experience. Candidates must satisfy the general admissions requirements of the University of Exeter.
The normal entry requirement is a Second Class Honours degree or equivalent in a science or engineering subject, with significant mathematical content. |
11. Regulation of Assessment and Academic Standards |
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Each academic programme in the University is subject to an agreed College assessment and marking strategy, underpinned by institution-wide assessment procedures. The security of assessment and academic standards is further supported through the appointment of External Examiners for each programme. External Examiners have access to draft papers, course work and examination scripts. They are required to attend the Board of Examiners and to provide an annual report. Annual External Examiner reports are monitored at both College and University level. Their responsibilities are described in the University's code of practice. See the University's TQA Manual for details. |
12. Indicators of Quality and Standards |
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Certain programmes are subject to accreditation and/ or review by professional and statutory regulatory bodies (PSRBs). |
14 | Awarding Institution | University of Exeter | |
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15 | Lead College / Teaching Institution | College of Engineering, Mathematics and Physical Sciences | |
16 | Partner College / Institution | University of Exeter Business School | |
17 | Programme accredited/validated by | ||
18 | Final Award(s) | MSc | |
19 | UCAS Code (UG programmes) | C736 | |
20 | NQF Level of Final Awards(s): | 7 | |
21 | Credit (CATS and ECTS) | 180 credits (90 ECTS) | |
22 | QAA Subject Benchmarking Group (UG and PGT programmes) | Mathematics, Statistics and Operational Research; Economics |
23 | Origin Date | February 8th 2023 | Last Date of Revision: | May 9th 2023 |
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