Corporate and Financial Risk Management MSc

Key information

Duration:
1 year full time
Start date:
September 2018
Apply by:
1 August (International), 1 September (UK/EU)

Understand the main aspects of risk management in businesses – including quantitative analysis, regulation, implementation and management structure.

We emphasise the application of mathematics to financial risk quantification, analysis and description. Our MSc is taught by established researchers and specialists in their fields.

You’ll benefit from training in computing and explore a range of topics from programming to statistics to management.

Why choose this course?

  • This course builds on Sussex’s strong foundation of interdisciplinary study – it’s taught by the Department of Mathematics and the Department of Business and Management.
  • Our courses are designed to meet employer demands – you’ll gain the knowledge and skills to compete effectively in the fast-paced world of work.
  • You have a choice between practice- and research-oriented study, working with experts in their fields.

Entry requirements

Degree requirements

You should normally have a lower second-class (2.2) undergraduate honours degree or above.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please select your country from the list.

Argentina

Degree requirements

Licenciado/Titulo with a final mark of 6.0-7.0 depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Australia

Degree requirements

Bachelors degree with second-class lower division.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Azerbaijan

Degree requirements

Magistr or Specialist Diploma with a minimum average mark of at least 4 or 81%

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Bahrain

Degree requirements

Bachelors degree with CGPA 2.5/4.0 (Grade C+).

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Bangladesh

Degree requirements

Masters degree with CGPA of at least 3.0/4.0.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Brazil

Degree requirements

Bacharel, Licenciado or professional title with a final mark of at least 7.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Brunei

Degree requirements

Bachelors (Honours) degree with GPA 3.5/5.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Canada

Degree requirements

Bachelors degree with CGPA 3.0/4.0 (grade B).

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Chile

Degree requirements

Licenciado with a final mark of 4.5-5.0/7 depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

China

Degree requirements

Bachelors degree from a leading university with overall mark of 65%-80% depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Colombia

Degree requirements

Licenciado with ‘Acreditacion de alta calidad’ and a GPA of 3.0.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Cyprus

Degree requirements

Bachelors degree or Ptychion with a final mark of at least 6.5.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Ecuador

Degree requirements

Licenciado with a final mark of at least 15/20.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Egypt

Degree requirements

Bachelors degree from a university with an overall grade of 70%

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

France

Degree requirements

Licence with mention assez bien or Maîtrise with final mark of at least 12.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Germany

Degree requirements

Bachelors degree or Magister Artium with a final mark of 2.7 or better.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Ghana

Degree requirements

Bachelors degree from a public university with second-class lower division.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Greece

Degree requirements

Ptychion from an AEI with a final mark of at least 6.5.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Hong Kong

Degree requirements

Bachelors (Honours) degree with second-class lower division.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

India

Degree requirements

Bachelors degree from a leading institution with overall mark of 50-65% depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Indonesia

Degree requirements

Bachelors degree with GPA 3.0/4.0.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Iran

Degree requirements

Bachelors degree (Licence or Karshenasi) with a final mark of at least 14.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Italy

Degree requirements

Diploma di Laurea with an overall mark of at least 101.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Japan

Degree requirements

Bachelors degree with a minimum C/GPA of at least 3.0/4.0 or equivalent.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Jordan

Degree requirements

Bachelors degree with CGPA of at least 2.8/4.0.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Kazakhstan

Degree requirements

Bachelors degree with an overall mark of 3.75 or better (on a scale of 1-5)/GPA 2,67.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Kenya

Degree requirements

Bachelors (Honours) degree with second-class lower division.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Kuwait

Degree requirements

Bachelors degree with CGPA of at least 2.8/4.0 or B.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Lebanon

Degree requirements

Bachelors degree with CGPA 3.0/4.0 or 13/20.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Malawi

Degree requirements

Masters degree, depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Malaysia

Degree requirements

Bachelors degree with CGPA of at least 3.0/4.0 or B.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Mexico

Degree requirements

Licenciado with a final mark of at least 7.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Nepal

Degree requirements

Masters degree with overall mark of 70%

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Nigeria

Degree requirements

Bachelors degree with second-class lower division or CGPA of at least 3.0/5.0.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Norway

Degree requirements

Bachelors degree with an overall grade of C.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Oman

Degree requirements

Bachelors degree with CGPA of at least 2.8/4.0.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Pakistan

Degree requirements

Four-year bachelors degree with overall grade of 65% or Masters with 55%

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Palestine

Degree requirements

Bachelors degree with GPA of at least 3.0/4.0 or B.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Paraguay

Degree requirements

Bachelors with a final mark of at least 7/10.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Peru

Degree requirements

Licenciado with a final mark of 12/20 depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Philippines

Degree requirements

Masters degree with 'very good' overall, or equivalent depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Qatar

Degree requirements

Bachelors degree with an overall CPGA of at least 2.8 (on a scale of 4).

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Russia

Degree requirements

Magistr or Specialist Diploma with a minimum average mark of at least 4.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Saudi Arabia

Degree requirements

Bachelors degree with a CGPA 3.0/5.0 or 2.8/4.0.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Singapore

Degree requirements

Bachelors (Honours) degree with second-class lower division or CAP 3.5.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

South Africa

Degree requirements

Bachelors (honours) degree with second-class division 2.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

South Korea

Degree requirements

Bachelors degree from a leading university with CGPA of at least 3.0/4.0 or B.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Spain

Degree requirements

Licenciado with a final mark of at least 2/4.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Sri Lanka

Degree requirements

Bachelors Special degree with lower second honours.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Switzerland

Degree requirements

Licence or Diplôme with 4.5/6 or 7/10.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Taiwan

Degree requirements

Bachelors degree with overall mark of 70%-85% depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Thailand

Degree requirements

Bachelors degree with CGPA of at least 2.8/4.0 or equivalent.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Turkey

Degree requirements

Lisans Diplomasi with CGPA of at least 3.0/4.0 or equivalent depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

United Arab Emirates

Degree requirements

Bachelors degree with CGPA of at least 2.8/4.0 or equivalent.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

USA

Degree requirements

Bachelors degree with CGPA 3.0/4.0 depending on your university.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Vietnam

Degree requirements

Bachelors degree (with a Graduate Thesis/research component) with CGPA of at least 3.0/4.0 or 7.0/10.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Zambia

Degree requirements

Masters degree with GPA of 2.0/2.5 or equivalent.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

Zimbabwe

Degree requirements

Bachelors (Honours) degree with second-class lower division.

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

Please note

Our entry requirements are guidelines and we assess all applications on a case-by-case basis.

My country is not listed

If your country is not listed, you need to contact us and find out the qualification level you should have for this course. Contact us at pg.enquiries@sussex.ac.uk

Subject-specific requirements

Your qualification should have a reasonably high mathematics content, demonstrating knowledge in calculus, probability and statistics, and ideally some programming. You are suited to this course if your qualification is in mathematics, finance, economics, business, science, engineering or computing. You may also be considered for the course if you have other professional qualifications or experience of equivalent standing.

English language requirements

IELTS (Academic)

Lower level (6.0 overall, including at least 6.0 in each component).

Check your IELTS qualification meets all of our entry requirements and find out more about IELTS

Alternative English language qualifications

Proficiency tests

Cambridge Advanced Certificate in English (CAE)

For tests taken before January 2015: grade B or above.

For tests taken after January 2015: 169 overall, including at least 169 in each skill.

We would normally expect the CAE test to have been taken within two years before the start of your course.

You cannot combine scores from more than one sitting of the test. Find out more about Cambridge English: Advanced

Cambridge Certificate of Proficiency in English (CPE)

For tests taken before January 2015: grade C or above.

For tests taken after January 2015: 169 overall, including at least 169 in each skill.

We would normally expect the CPE test to have been taken within two years before the start of your course.

You cannot combine scores from more than one sitting of the test. Find out more about Cambridge English: Proficiency

Pearson (PTE Academic)

56 overall, including at least 56 in all four skills.

PTE (Academic) scores are valid for two years from the test date. Your score must be valid when you begin your Sussex course. You cannot combine scores from more than one sitting of the test. Find out more about Pearson (PTE Academic)

TOEFL (iBT)

80 overall, including at least 19 in Listening, 19 in Reading, 21 in Speaking, 21 in Writing.

TOEFL (iBT) scores are valid for two years from the test date. Your score must be valid when you begin your Sussex course. You cannot combine scores from more than one sitting of the test. Find out more about TOEFL (iBT)

The TOEFL Institution Code for the University of Sussex is 9166.

English language qualifications

AS/A-level (GCE)

Grade C or above in English Language.

Hong Kong Advanced Level Examination (HKALE)/ AS or A Level: grade C or above in Use of English.

French Baccalaureat

A score of 12 or above in English.

GCE O-level

Grade C or above in English.

Brunei/Cambridge GCE O-level in English: grades 1-6.

Singapore/Cambridge GCE O-level in English: grades 1-6.

GCSE or IGCSE

Grade C or above in English as a First Language.

Grade B or above in English as a Second Language.

German Abitur

A score of 12 or above in English.

Ghana Senior Secondary School Certificate

If awarded before 1993: grades 1-6 in English language.

If awarded between 1993 and 2005: grades A-D in English language.

Hong Kong Diploma of Secondary Education (HKDSE)

 Level 4, including at least 3 in each component in English Language.

Indian School Certificate (Standard XII)

The Indian School Certificate is accepted at the grades below when awarded by the following examination boards:

Central Board of Secondary Education (CBSE) – English Core only: 70%

Council for Indian School Certificate Examinations (CISCE) - English: 70% 

International Baccalaureate Diploma (IB)

English A or English B at grade 5 or above.

Irish Leaving Certificate

Grade C (Honours) or above in English.

Malaysian Certificate of Education (SPM) 119/GCE O-level

If taken before the end of 2008: grades 1-5 in English Language.

If taken from 2009 onwards: grade C or above in English Language.

The qualification must be jointly awarded by the University of Cambridge Local Examinations Syndicate (UCLES).

West African Senior School Certificate

Grades 1-6 in English language when awarded by the West African Examinations Council (WAEC) or the National Examinations Council (NECO).

English language support

If you don’t meet the English language requirements for your degree, you may be able to take a pre-sessional course.

Visas and immigration

Find out how to apply for a student visa

Admissions information for applicants

How to apply

You apply to Sussex using our postgraduate application system

Personal statementYes

A personal statement is a piece of writing that you submit as part of your application. It should show us that you are the right person for Sussex by telling us why you want to study your course. 

Find out how to write a personal statement

If your qualifications aren’t listed or you have a question about entry requirements, email pg.enquiries@sussex.ac.uk

Pre-Masters

Need to boost your academic skills for your taught course? Find out about Pre-Masters routes

Application deadlines

1 August (International), 1 September (UK/EU)

Course details

How will I study?

You study core modules and a range of mathematics and management options in the autumn and spring terms.

In the summer term, you write your dissertation, usually in banking risk assessment or investment risk assessment.

You’ll be assessed through a variety of methods, including unseen examinations, projects and a dissertation. 

Modules

Core modules

Core modules are taken by all students on the course. They give you a solid grounding in your chosen subject and prepare you to explore the topics that interest you most.

Options

Alongside your core modules, you can choose options to broaden your horizons and tailor your course to your interests.

Our experts

“This MSc provides you with the ability to quantify and calculate financial risks, by taking risk analysis in the big data era and combining it with real-life practice.” Dr Qi TangReader in Mathematics
Prof Carol Alexander

Prof Carol Alexander

Professor of Finance

Research interests

Algebra, Applied Statistics, Decision Analysis, Evolutionary Game Theory, Exchange Trading, Finance, Financial Markets, Financial Mathematics, Financial Modelling, Game Theory, Hedge Funds, Mathematical Statistics, Mathematics, Real Options, Risk Analysis, Statistical Methodology, Statistical Modelling, Stochastic Analysis, Stochastic Processes, Volatility Analysis

View Carol Alexander's profile

Prof Katie Bailey

Prof Katie Bailey

Professor Of Management

Research interests

Change Management, employee engagement, gender and employment, HRM in the public sector, Human resource management, knowledge-intensive firms, meaningful work, strategic human resource management

View Katie Bailey's profile

Prof Constantin Blome

Prof Constantin Blome

Professor Of Operations Management

Research interests

Manufacturing Procurement, Operations Management, Operations Strategy, Outsourcing, Procurement, Public Procurement, Risk management, Supply Chain Innovation, Supply Chain Management, Sustainability: Environmental

View Constantin Blome's profile

Dr Ingo Borchert

Dr Ingo Borchert

Senior Lecturer in Economics

Research interests

Brexit, Foreign direct investment, International Trade, Service sector integration, Trade in services, Trade liberalization, Trade policy

View Ingo Borchert's profile

Dr Achilleas Boukis

Dr Achilleas Boukis

Lecturer In Marketing

Research interests

Consumer branding, Innovation Management, internal branding, Service Encounter, Services Marketing

View Achilleas Boukis's profile

Dr Odul Bozkurt

Dr Odul Bozkurt

Senior Lecturer in International Human Resource Management

Research interests

employment studies, globalization and work, Green Economy, international human resource management, Japan, repair work, retail employment, skills and employment, social class and employment, Sociology of work and organizations, UK retailing, vintage sector

View Odul Bozkurt's profile

Dr Michael Coulon

Dr Michael Coulon

Senior Lecturer in Finance

Research interests

Commodities, Energy, Environmental policy, Finance, Financial Mathematics, Financial Modelling

View Michael Coulon's profile

Dr Bertram Duering

Dr Bertram Duering

Reader in Mathematics

Research interests

Applied Mathematics, Financial Mathematics, Modelling, Numerical Analysis, Optimal Control, Partial Differential Equations

View Bertram Duering's profile

Dr Benjamin Everly

Dr Benjamin Everly

Senior Lecturer in Organisational Behaviour

Research interests

Diversity management, gender and management, Intergroup relations, Race and gender equality

View Benjamin Everly's profile

Dr Sonja Fagernas

Dr Sonja Fagernas

Senior Lecturer in Economics

Research interests

Development Economics, Economics of Education, Law and economics, public policy

View Sonja Fagernas's profile

Dr Dimitrios Gounopoulos

Dr Dimitrios Gounopoulos

Visiting Senior Research Fellow

Research interests

Bond Issues, Capital Structure, Commodities, Dividend Policy, Earnings Management, Educations of CEOs, Executive Compensation, Finance, Gold - Precious Metals - Industrial Metals, Initial Public Offering, International Accounting Issues, Pension Funds, Political Connections

View Dimitrios Gounopoulos's profile

Dr Bruce Hearn

Dr Bruce Hearn

Senior Lecturer in Accounting & Finance

Research interests

Corporate finance, corporate governance, Finance, Financial Management

View Bruce Hearn's profile

Dr Michael Hopkins

Dr Michael Hopkins

Senior Lecturer

Research interests

biotechnology, diagnostics, Financing Innovation, Healthcare, Hidden Innovation, Innovation Systems, Intellectual Property, Managing Change, pharmaceuticals, Regulation of Technology, Science and technology policy, Science And Technology Studies, Scientometrics, Technology Strategy

View Michael Hopkins's profile

Prof Ranko Jelic

Prof Ranko Jelic

Professor of Finance

Research interests

Corporate finance, European corporate bonds, Management Buyouts, Private equity, Privatisation

View Ranko Jelic's profile

Dr Max Jensen

Dr Max Jensen

Senior Lecturer In Mathematics

Research interests

Financial Mathematics, Numerical Analysis, Optimal Control, Partial Differential Equations

View Max Jensen's profile

Dr Andreas Kaeck

Dr Andreas Kaeck

Reader In Finance

Research interests

Asset Pricing, Derivatives, Finance, Financial Econometrics, Risk management, Volatility Analysis

View Andreas Kaeck's profile

Dr Norifumi Kawai

Dr Norifumi Kawai

Senior Lecturer in International Business

Research interests

corporate social responsibility, expatriate management, global strategy, managerial economics, strategic human resource management

View Norifumi Kawai's profile

Dr Marv Khammash

Dr Marv Khammash

Lecturer in Marketing

Research interests

bioethics, consumer activism, Consumer behaviour, Consumer Ethics, Consumer health, Consumer studies, digital identities, Digital Marketing, digital media, ethical consumption, Forecast Models, forecasting, ICT and Digital Technologies, Internet of things, Marketing, Marketing Research, Mobile Apps, online identity, Peer to Peer Computing, Pharmaceutical marketing, Piracy, Psychosocial methods, Social networking, technology foresight

View Marv Khammash's profile

Dr Andreas Kornelakis

Dr Andreas Kornelakis

Visiting Senior Research Fellow

Research interests

Banking Sector, Collective Bargaining, Comparative Studies, Employee Voice, Europe, Flexibility, Human resource management, Labour relations, Pay Determination, Pay Systems, Political economy, Telecommunications, Work

View Andreas Kornelakis's profile

Dr Julie Litchfield

Dr Julie Litchfield

Senior Lecturer in Economics

Research interests

Applied Economics, Conflict and violence, Development Economics, Migration, Poverty

View Julie Litchfield's profile

Dr Michelle Luke

Dr Michelle Luke

Reader in Organisational Behaviour

Research interests

Organisational behaviour, Organisational psychology, Psychology, Social psychology

View Michelle Luke's profile

Prof Emmanuel Mamatzakis

Prof Emmanuel Mamatzakis

Professor of Finance

Research interests

Corporate finance, corporate governance, Finance, Financial accounting, Financial Crisis in Greece, Financial Econometrics, Financial Management, Financial Markets, Financial stability, Public finances

View Emmanuel Mamatzakis's profile

Prof Andy Mckay

Prof Andy Mckay

Professor of Development Economics

Research interests

Africa, Inequality, labour, Poverty, Structural change and economic growth, vietnam

View Andy Mckay's profile

Dr Piera Morlacchi

Dr Piera Morlacchi

Senior Lecturer in Entrepreneurship and Organisation Studies

Research interests

Artificial Intelligence, Complex adaptive systems and networks, Design Creativity and Innovation, Entrepreneurship, ethnography, Health Entrepreneurship, health technologies, nonprofit organization (NPO), organization studies, public policy, Science And Technology Studies, Social Innovation and Sustainability, Sociology of Work and Organization

View Piera Morlacchi's profile

Dr Mike Osborne

Dr Mike Osborne

Senior Lecturer in Accounting & Finance

Research interests

Capital budgeting, Corporate finance, Finance, Fixed income mathematics, Interest rates, Investment appraisal, Project analysis, Retail finance, Time value of money

View Mike Osborne's profile

Dr Nikolaos Papanikolaou

Dr Nikolaos Papanikolaou

Lecturer in Banking and Finance

Research interests

Applied Econometrics, Applied Economics, Applied microeconomics, Bank accounting, bank regulation, Corporate culture, Economic Growth, european political economy, Financial accounting, Financial Econometrics, Financial Markets, Financial stability, International Accounting Issues, Monetary Economics, Systemic risk

View Nikolaos Papanikolaou's profile

Dr Dimitra Petrakaki

Dr Dimitra Petrakaki

Reader in Information Systems

Research interests

Information Systems, Information technology and organisational change, Organisational theory, Science And Technology Studies, Sociology, sociology of health, sociology of technology

View Dimitra Petrakaki's profile

Prof Barry Reilly

Prof Barry Reilly

Professor of Econometrics

Research interests

Applied Econometrics, Development Economics, Economics of Sport, Labour economics

View Barry Reilly's profile

Dr Maria Restuccia

Dr Maria Restuccia

Lecturer In Marketing

Research interests

Marketing, Marketing Research, New Product Development, Policy, Arts Management & Creative Industries

View Maria Restuccia's profile

Dr Carlos Sato

Dr Carlos Sato

Lecturer in Management

Research interests

Major Projects Studies, Project Management, Technological Change, Technology and Innovation Management

View Carlos Sato's profile

Prof Enrico Scalas

Prof Enrico Scalas

Professor Of Statistics & Probability

Research interests

Econophysics, Financial Mathematics, Mathematical Statistics, Monte Carlo simulations, Probability Theory, Statistical Mechanics, Stochastic Processes

View Enrico Scalas's profile

Dr Vikrant Shirodkar

Dr Vikrant Shirodkar

Senior Lecturer in International Business

Research interests

Corporate Political Activity, corporate social responsibility, Emerging Markets, International business, lobbying

View Vikrant Shirodkar's profile

Dr Josh Siepel

Dr Josh Siepel

Senior Lecturer in Management

Research interests

Design Innovation, Economics, Economics of Awards, Entrepreneurship, entrepreneurship policy, Financing Innovation, Firm growth, Innovation Creativity and Design, Innovation policy issues, skills and employment, Small Business Policy, SMEs; SME finance; SME public policy

View Josh Siepel's profile

Prof Chris Storey

Prof Chris Storey

Professor of Marketing

Research interests

Buyer-Seller Relationships, innovation, Marketing, New Product Development, Services Marketing

View Chris Storey's profile

Prof David Storey

Prof David Storey

Professor of Enterprise

Research interests

Gamblers Ruin, SMEs; SME finance; SME public policy

View David Storey's profile

Prof Roger Strange

Prof Roger Strange

Professor of International Business

Research interests

corporate governance, Foreign direct investment, International business, MNE location, Outsourcing

View Roger Strange's profile

Dr Puay Tang

Dr Puay Tang

Senior Lecturer

Research interests

academic entrepreneurship, evaluation of publicly funded investments, research impact assessment, University-industry links

View Puay Tang's profile

Dr Qi Tang

Dr Qi Tang

Reader in Mathematics

Research interests

Big Data Analytics, Finance, Stochastic integral-differential equations

View Qi Tang's profile

Dr Shqiponja Telhaj

Dr Shqiponja Telhaj

Reader in Economics

Research interests

Applied microeconomics, Economics of Education, Labour economics

View Shqiponja Telhaj's profile

Dr Shova Thapa Karki

Dr Shova Thapa Karki

Lecturer in Entrepreneurship and Sustainability

Research interests

Biodiversity and Conservation, Circular economy, Conflict and resources, Entrepreneurship, gender, Peri-urban sustainability, Social-ecological resilience, Sustainable development, Sustainable Entrepreneurship

View Shova Thapa Karki's profile

Prof Joseph Tidd

Prof Joseph Tidd

Professor of Science & Technology Policy Research

Research interests

Industrial Innovation, Innovation Management, New Product Development

View Joseph Tidd's profile

Prof Hans Van Der Heijden

Prof Hans Van Der Heijden

Professor Of Accounting

Research interests

Accounting, Accounting Education, Accounting Information Systems, Enterprise Systems, Information Systems, SAP, Software Development

View Hans Van Der Heijden's profile

Dr Jie Wen

Dr Jie Wen

Lecturer in Finance

Research interests

Corporate finance, financial market microstructure, Financial regulation

View Jie Wen's profile

Dr Mirela Xheneti

Dr Mirela Xheneti

Senior Lecturer in Entrepreneurship & Small Business

Research interests

Entrepreneurship, Entrepreneurship in the Informal Economy, Institutional Entrepreneurship, Small Business Growth, Small Business Policy, Transition Economies

View Mirela Xheneti's profile

Dr Biao Yang

Dr Biao Yang

Senior Lecturer in Operations Management

Research interests

Inventory models, Operations Management, Production Management, Supply Chain Management

View Biao Yang's profile

Dr Yong Yang

Dr Yong Yang

Reader in Strategy

Research interests

Foreign direct investment, global strategy, International business, MNE location, Strategic management

View Yong Yang's profile

Dr Xiaoxiang Zhang

Dr Xiaoxiang Zhang

Lecturer in Finance

Research interests

Asset Pricing, Corporate finance, corporate governance, Finance, Financial Management, financial market microstructure, information disclosure and efficiency, Microstructure analysis, Stock market liquidity

View Xiaoxiang Zhang's profile

Course enquiries

+44 (0)1273 873254
mps@​sussex.ac.uk

Find out about the Department of Mathematics

Fees and scholarships

How much does it cost?

Fees

UK/EU students:
£10,600 per year
Channel Islands and Isle of Man students:
£10,600 per year
International students:
£17,900 per year

Note that your fees may be subject to an increase on an annual basis.

Living costs

Find out typical living costs for studying at Sussex

How can I fund my course?

Postgraduate Masters loans

You can borrow up to £10,280 to help with fees and living costs if your course starts on or after 1 August 2017. Loans are available from the Student Loans Company if you’re from the UK or if you’re an EU national studying for a Masters.

Find out more about Postgraduate Masters Loans

Scholarships

Our aim is to ensure that every student who wants to study with us is able to despite financial barriers, so that we continue to attract talented and unique individuals.

How Masters scholarships make studying more affordable

Working while you study

Our Careers and Employability Centre can help you find part-time work while you study. Find out more about career development and part-time work

Careers

Our graduates have found jobs in banking (investment funds and hedge funds), financial software companies, and corporations with risk management departments. 

Graduate destinations

100% of students from the Department of Mathematics were in work or further study six months after graduating. Recent graduates have gone on to jobs including:

  • accountant, Ernst & Young
  • graduate analyst, Invesco
  • performance analyst, Legal and General Investment Management.

(EPI, Destinations of Leavers from Higher Education Survey 2015 for postgraduates)

Dissertation (Financial Mathematics)

  • 45 credits
  • All Year Teaching, Year 1 credits

You are expected to carry out independant study and research of a designated topic, and complete a report on the subject over the summer of the year of study

Financial computing with MATLAB

  • 15 credits
  • Autumn Teaching, Year 1 credits

From basic skills of MATLAB you will progress to be able to handle some financial data processing abilities.

Financial Mathematics

  • 15 credits
  • Autumn Teaching, Year 1 credits

You will study generalized cash flows, time value of money, real and money interest rates, compound interest functions, quations of value, loan repayment schemes, investment project evaluation and comparison, bonds, term structure of interest rates, some simple stochastic interest rate models and project writing.

Institutions in the Global Financial Market

  • 15 credits
  • Autumn Teaching, Year 1 credits

This module examines the role played by financial institutions in the global market structure and in particular the ways in which these institutions manage risk in their investments, with particular focus on management of operational risk.

You will address investment banking and the role banks and other actors such as rating agencies play in capital markets.

You undertake a detailed exploration of the nature of operational risk and the way risk management is practiced in financial services firms.

You compare and contrast the prevailing regulatory approaches, and will provide in-depth discussions of the prevailing international frameworks for regulating and managing operational risk.

There will also be a focus on the process of compliance with these regulations, which will be discussed using both lectures and case study material. The module will also include discussions of corporate scandals, the role of the financial media, and prospects for future regulations.

Bank Risk Management

  • 15 credits
  • Spring Teaching, Year 1 credits

In this module, you study the different risk management techniques used to assess and control risk in the banking sector.

You look at:

  • Value-at-Risk (VaR)
  • risk control techniques including limit setting and risk budgeting
  • Debit and Credit Value Adjustments (DVA and CVA)
  • credit risk assessment
  • credit lines
  • bank stress tests, which are designed to detect weak spots in the banking system so that preventative action can be taken.

Financial Invest & Corp Risk Analysis

  • 15 credits
  • Spring Teaching, Year 1 credits

In this module, we introduce the three main risk concepts in the investment and corporate risk management field: market risk (times series), credit risk (financial rating) and operational risk (evaluation and reporting techniques), using Basel Regulations as guidelines.

We then introduce the mathematical tools required to quantify, describe and analyse these risks quantitatively (including graphic representation, bootstrapping, calculation of transition matrices, ARCH/GARCH models, VaR, Monte-Carlo simulation)

We also introduce some programming tools in Excel and MatLab on how to deal with these problems.

Financial Portfolio Analysis

  • 15 credits
  • Spring Teaching, Year 1 credits

You will study valuation, options, asset pricing models, the Black-Scholes model, Hedging and related MatLab programming. These topics form the most essential knowledge for you if you intend to start working in the financial fields. They are complex application problems. Your understanding of mathematics should be good enough to understand the modelling and reasoning skills required. The programming element of this module makes complicated computations manageable and presentable.

Topics in Financial Risk Analysis

  • 15 credits
  • Spring Teaching, Year 1 credits

This module introduces you to a variety of topics in financial risk analysis that are suitable for your masters dissertation in the summer. Sample topics include (but are not limited to):

  • option pricing (eg binomial trees and Black Scholes)
  • implied volatility and stochastic volatility models
  • American / exotic options, numerical methods, simulation
  • regression and data fitting / calibration techniques
  • risk management (eg value at risk, expected shortfall, back-testing of models, stress-testing).

Formal lectures covering the topics are supported by practical workshops using Excel and Matlab. Also, some lecture and workshop time is devoted to research techniques and guidance on how to prepare a research proposal (‘concept outline’).

Bank Financial Management

  • 15 credits
  • Autumn Teaching, Year 1 credits

This module provides a comprehensive account of the primary aspects of bank financial management.

Bank financial management covers the fundamental bank instrumental techniques, such as bank asset investment and bank funding instruments, and measuring costs and yield curves.

The modelule demonstrates how bank managers evaluate bank performance, specifically using operational performance measures and frontier analysis, then details the elements of bank asset and bank liability management.

Innovative aspects of bank strategies are covered, including bank funding alternatives, pricing off balance sheet items, and contingent claims products. International banking and foreign exchange are also discussed.

In addition, the module deals with bank mergers and acquisitions.

Corporate and International Finance

  • 15 credits
  • Autumn Teaching, Year 1 credits

This module covers the most important topics in corporate finance such as: capital investment decision-taking; financing andcapital structure; risk management; and portfolio theory. You will then analyse issues in international finance including: models of exchange rates; efficiency in foreign exchange markets; monetary unions; and international financial crises.

Linear Statistical Models

  • 15 credits
  • Autumn Teaching, Year 1 credits

Topics include:

  • full-rank model (multiple and polynomial regression), estimation of parameters, analysis of variance and covariance
  • model checking
  • comparing models, model selection
  • transformation of response and regressor variables
  • models of less than full rank (experimental design), analysis of variance, hypothesis testing, contrasts
  • simple examples of experimental designs, introduction to factorial experiments
  • use of a computer statistical package to analyse real data sets.

Probability Models

  • 15 credits
  • Autumn Teaching, Year 1 credits

You cover topics including:

  • short revision of probability theory
  • expectation and conditional expectation
  • convergence of random variables, in particular laws of large numbers, moment generating functions, and central limit theorem
  • stochastic processes in discrete time in particular Markov chains, including random walk, martingales in discrete time, Doob's optional stopping theorem, and martingale convergence theorem.

Money and Banking

  • 15 credits
  • Spring Teaching, Year 1 credits

In this module, you study: 

  • bond, stock and foreign currency markets
  • the role of banks and financial intermediation
  • competition and regulation in banking
  • financial crises
  • the role and policy tools of central banks
  • the role of money and banks in the broader economy.

Monte Carlo Simulations

  • 15 credits
  • Spring Teaching, Year 1 credits

The module will cover topics including:

  • Introduction to R 
  • Pseudo-random number generation 
  • Generation of random variates 
  • Variance reduction 
  • Markov-chain Monte Carlo and its foundations 
  • How to analyse Monte Carlo simulations 
  • Application to physics: the Ising model 
  • Application to statistics: goodness-of-fit tests

Multinational Financial Management

  • 15 credits
  • Spring Teaching, Year 1 credits

The main aim of this module is to evaluate the financial decision-making of companies operating internationally, providing an understanding of global capital markets, in the context of international trade patterns, international monetary systems, exchange rate regimes and foreign exchange markets, as well as tax rules and legal and institutional complexities. You will also develop competences in the appraisal of international capital expenditure choices and in the effective implementation of multinational management control systems. In addition, the module considers the political risks faced by multinational enterprises, including firm-specific risk, country risk, and global risk, together with an assessment of the origins and repercussions of the current credit crisis, including the international scale of securitization, and the impact of market failure in international interbank markets on multinational financial management.

Summary outline: currency regimes and markets and the management of foreign exchange risk; measuring and managing exchange exposure; international financing and capital market integration; the cost of capital for foreign investments; capital budgeting for the multinational corporation; working capital management; taxation and transfer pricing; country risk analysis and the implications of the financial crisis of 2007-09 and module resumé.

Random processes

  • 15 credits
  • Spring Teaching, Year 1 credits

Topics covered include:

Rationalisation:
After the introduction of the Poisson process, birth and death processes as well as epidemics models can be presented in full generality as applications of the pooled Poisson process. At the same time, the students will be introduced to the Kolmogorov equations and to the techniques for solving them. Renewal theory is needed to better understand queues, and, for this reason, it is discussed before queues.
Modernisation:
A modern introductory course on stochastic processes must include at least a section on compound renewal processes (with a focus on the compound Poisson process) as well as a chapter on the Wiener process and on Ito stochastic calculus. This is necessary given the importance this process has in several applications from finance to physics. Modernisation is achieved by including a new introductory chapter divided into three parts.
  1. Poisson processes:
    1. Density and distribution of into-event time.
    2. Pooled Poisson process.
    3. Breaking down a Poisson process.
    4. Applications of the Poisson process, eg birth-and-death processes, the Kolmogorov equations.
  1. Renewal processes
    1. The ordinary renewal process.
    2. The equilibrium renewal process.
    3. The compound renewal process.
    4. Applications of renewal processes, queues.
  1. Wiener process
    1. Definition and properties
    2. Introduction to stochastic integrals
    3. Introduction to stochastic differential equations.
Return to top of page