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Financial Mathematics with Business BSc(Hons)

Attendance UCAS code/apply Year of entry
3 years full time G9N1 2017
4 years full time including sandwich year G9NC 2017
4 years full time including foundation year G9ND 2017
6 years part time Apply direct to the University 2017

Why choose this course?

This course is designed to help you develop the skills needed for careers in many aspects of the financial world – as well as the wider business environment where financial, mathematical, statistical and computing skills are highly valued. Roughly a quarter of the curriculum will focus on business topics, while the remainder of the course explores core themes in mathematics and its applications in financial areas. The curriculum is flexible – you may transfer to related courses at the end of the first year and you may choose to spend the third year of the course on a professional placement, developing your skills in a real work setting.

Accreditation

This course is accredited by the Institute of Mathematics and its Applications (IMA).

What you will study

The course combines the fundamentals of financial mathematics with the study of business management applications.

In Year 1, you will be introduced to a wide variety of topics, laying the foundations for further work. Your study of mathematical methods will include calculus and linear algebra, and you will be introduced to computing techniques to support the mathematics and its applications. Introductory statistics studies explain the fundamental theories and techniques of the subject. You will also explore the fundamentals of how businesses and markets operate and interact, with an introduction to ideas of market research and marketing.

In Year 2, you will extend your knowledge and problem-solving skills, as you study more sophisticated mathematical methods and statistical modelling approaches. Investigating real-world problems will require the application of up-to-date industry-standard software (such as SAS, Maple and Matlab) in addition to the more traditional pencil and paper. You will also explore the techniques of mathematics applied to financial and investment problems. The business element looks at how organisations attempt to manage their human and financial resources to achieve and maintain competitive advantage.

In Year 3, your studies will extend to partial differential equations and optimisation (areas of mathematics that may be applied to a vast range of real-world problems). You will explore the mathematical and statistical models of risky assets and the theory of pricing contracts based on these assets. You will also undertake a major project (independent study), investigating a financial mathematics topic in depth. In the business field you will study the management of organisations at the strategic level in a variety of contexts. The flexible curriculum enables you to transfer to related courses at the end of Year 1, and you may choose to spend Year 3 on a professional placement, developing your skills in a real work setting.

Module listing

Please note that this is an indicative list of modules and is not intended as a definitive list. Those listed here may also be a mixture of core and optional modules.

Year 1

  • This module provides the foundations for further study of (applicable) mathematics. The basic ideas of mathematics as a discipline are introduced. Topics from different areas of mathematics which may readily be applied to solve problems in the real world are considered with emphasis on study of the Calculus, one of the most powerful tools of modern mathematics and theoretical science. As a necessary preliminary to this work we first clarify our ideas of rational, real and complex numbers. The fundamental concepts of calculus, in particular, that of a limit, are introduced and the continuity and differentiability of functions on the real line are explored. The derivative concept is generalised for functions of several variables extending the breadth of its application greatly and the study of ordinary differential equations is commenced.

    On successful completion of the module, you will be able to:

    • Discuss the idea of systems constructed on axiomatic foundations and the use of definitions, theorems and proof in mathematics.
    • Explain the evaluation of derivatives and integrals of functions as limiting processes, and perform the evaluation for simple examples.
    • Apply the techniques of calculus in a range of appropriate situations.
    • Formulate and solve mathematical models based on simple ordinary differential equations (ODEs).
    • Perform calculations with sets of vectors to determine their theoretical properties and to solve simple geometrical problems in three dimensions.
    • Communicate simple mathematical ideas and arguments in written form – where appropriate incorporating material from a variety of information sources.

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  • This module is a core part of most mathematics courses and builds upon A-level study in three strands: it aims to develop s personal skills and understanding of degree-level study; it introduces computer programming and software as a useful problem-solving tool in mathematics; and it develops mathematical techniques in a computing context that will be used in parallel and subsequent modules.

    On successful completion of the module, you will be able to:

    • Work in groups to solve problems and present their work effectively.
    • Describe the relationship between the role of professional societies, their codes of practice and ethical (professional) behaviour.
    • Use computer packages for symbolic algebra and linear algebra.
    • Use a modern programming environment to assist in the solution of computational problems in mathematics.
    • Integrate a function numerically, showing awareness of the concepts of convergence and errors in arithmetic processes.
    • Use matrices to represent, analyse and solve simple systems of equations.

    Read full module description

     
  • This module introduces basic probability and statistical theory, concepts and their applications to real life problem solving and learn about different types of data and how to present and summarise these. The module also covers statistical inference and the concepts of confidence intervals and hypothesis testing for the population mean and variance, for proportions, for comparing measures between two populations and for contingency tables and goodness of fit to a known distribution.

    On successful completion of the module, you will be able to:

    • Summarise the main features of a dataset by using appropriate statistical measures and diagrams.
    • Apply the concepts of probability, random variables, probability distributions and random sampling; and select probabilistic models appropriate to problems described in words.
    • Construct confidence intervals and conduct hypotheses tests for unknown parameters in well-defined circumstances and interpret the results.
    • Investigate the linear relationship between variables using correlation and regression analysis.
    • Use appropriate software for basic statistical analysis and presentation of data.

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  • This module is designed to introduce you to the business function, with specific focus on marketing, data analysis, information systems, economics and the business environment. This module will equip you with the tools and skills to collect and analyse data, and present solutions to real-world problems based on marketing data. You will learn basic business and economic concepts and their application to current issues.

     

Year 2

  • This module is designed to build on the work previously gained in order to deliver more advanced tools in calculus and numerical methods thus permitting the solution of a much wider set of problems associated with the real world. In turn, concepts developed in this module are used extensively at Level 6.

    On successful completion of the module, you will be able to:

    • evaluate multiple integrals, in different co-ordinate systems.
    • perform vector algebra and calculus, including evaluations of gradient, divergence and curl  and applications of (integral) theorems linking these quantities.
    • solve a variety of ordinary differential equations (ODEs) including linear systems of ODEs.
    • solve systems of linear and nonlinear equations numerically.
    • obtain eigenvalues numerically.
    • understand and apply methods of approximation using truncated series or splines.

    Read full module description

     
  • This module is designed to build on the work previously gained in order to deliver more advanced tools in calculus and numerical methods thus permitting the solution of a much wider set of problems associated with the real world. In turn, concepts developed in this module are used extensively at Level 6.

    On successful completion of the module, you will be able to:

    • Evaluate multiple integrals, in different co-ordinate systems.
    • Perform vector algebra and calculus, including evaluations of gradient, divergence and curl  and applications of (integral) theorems linking these quantities.
    • Solve a variety of ordinary differential equations (ODEs) including linear systems of ODEs.
    • Solve systems of linear and nonlinear equations numerically.
    • Obtain eigenvalues numerically.
    • Understand and apply methods of approximation using truncated series or splines.

    Read full module description

     
  • This module develops and builds on the concepts of probability and statistical modelling studied at the previous level. The module introduces some of the major discrete and continuous statistical distributions which underpin statistical methodology and the concepts of joint distributions. The module also deals with statistical modelling and how to take data analysis beyond basic techniques. The theory and practical application involved in investigating multivariate data using statistical modelling from initial investigation through to validation of a model is investigated. Example driven practice in using industry standard statistical software for the purpose of statistical modelling and how to communicate the results of their analyses effectively and coherently will be reviewed. This module provides a sound grounding in theoretical and practical statistical analysis and forms the basis for learning more advanced multivariate methodologies later in the program. It also covers much of the material required to satisfy the IFA CT3 criteria.

    On successful completion of the module, you will be able to:

    • Distinguish between discrete and continuous random variables, calculate probabilities and moments for discrete and continuous random variables and median and mode for continuous random variables.
    • Derive moments and generating functions for discrete and continuous variables and use generating functions to derive moments and the distribution of the sum of independent random variables.
    • Derive marginal and conditional distributions from joint distributions, and distributions of functions of random variables.
    • Derive the maximum likelihood and method of moment estimators and estimates of parameters of univariate probability distributions.
    • Use regression modelling to investigate multivariate data, obtain the model of best fit and test the validity of the model.
    • Use statistical software to construct, analyse and fit regression models, interpret the output and communicate the results.

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  • This module considers the extent to which an efficient and effective management of human and financial resources can help organisations to achieve and sustain a competitive advantage. It examines key issues in human and financial resource management, using appropriate conceptual and analytical frameworks which can help to explain the choices available to organisations, and their likely reasons for adopting different approaches to the management of human and financial resources. The module examines key issues in strategic HRM. It demonstrates how various HRM policies and practices can be employed and intertwined to create an environment in which employees are satisfied and perform well. The module also explains the principles and construction of the key financial statements and prepares students to interpret financial information to make appropriate economic decisions and recommendations. In so doing, it provides opportunities for applied learning and professional development.

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Optional sandwich year

Year 3/4

  • This module consolidates and further develops the concepts previously acquired; consisting of two distinct but interrelated parts. The PDE part builds on analytical and numerical methods for solving ODEs whilst in the optimisation section the ideas of using calculus to find stationary points of functions (of one or two variables), introduced in earlier modules are generalised and extended to cases where the functions are constrained (by both equations and inequalities). An holistic approach covering both analytical and (approximate) numerical techniques is adopted throughout. This means that a wide range of PDEs covering many areas of application may be solved – and similarly a variety of calculus-based methods for finding optima is considered and their appropriateness for different situations discussed in the context of recent research in the area.

    On successful completion of the module, you will be able to:

    • Find the characteristics and classify a partial differential equation.
    • Use Fourier method of separation of variables to solve a partial differential equation.
    • Use finite difference methods for solving PDEs and understand limitations of numerical methods.
    • Find analytically the extrema of functions of two or more variables, with and without constraints.
    • Apply appropriate numerical methods to solve unconstrained and constrained optimisation problems.
    • Apply the above theory to deduce optimal strategies in a range of application areas.

    Read full module description

     
  • This module serves as an introduction to the mathematics and statistics of modern portfolio theory, the mathematical, stochastic and statistical models of risky assets and the theory of pricing contracts based on these assets. It is intended to cover the requirements of CT8 from the Institute and Faculty of Actuaries.

    On successful completion of the module, you will be able to:

    • Analyse the return on an asset or portfolio – as well as the mean and variance of return – and compare investment opportunities using a variety of measures of risk.
    • Identify a portfolio of assets which is optimal given a set of selection criteria.
    • Describe various models of asset returns, including the capital asset pricing model (CAPM) and perform calculations using these models.
    • Discuss the various forms of the efficient market hypothesis and their limitations.
    • Formulate models of the securities markets using discrete and continuous-time stochastic processes and partial differential equations.
    • Use and extend these models to obtain the value of options and other contingent claims on assets.

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  • This module considers the development of the role of management in organisations, the importance of strategic analysis and decision making to enable sustainable development and the different contexts in which organisations might operate. You will develop an understanding of the environment in which organisations operate and how organisations use internal resources and competences to achieve competitive advantage. The module examines the role of culture and management in organisations, and the options for growth and development.

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  • This module offers the opportunity to demonstrate skills and understanding gained to date on the course through application to a project of their choice. Typically it involves drawing upon work from several different areas of the course thus reinforcing the coherence of the programme, highlighting connections (and often interdependence) between the different areas studied to be able to give an overview. It also represents an opportunity to further develop vital skills in areas of research, time and project management, and presentation as well as in technical areas. 

    On successful completion of the module, you will be able to:

    • Carry out a literature search to summarise and evaluate background work relevant to the project.
    • Plan tasks within time and other commitment constraints.
    • Undertake an investigation of the planned topic and critically evaluate the outcomes.
    • Produce a well-structured written report demonstrating a sound understanding of the theory of the chosen project area, including correct use of relevant references, language, data, diagrams, tables and graphs as appropriate to your project.
    • Give a presentation and answer questions clearly and concisely in a structured interview about your work.
    • Design, implement and test an application, as appropriate to your project.

    Read full module description

     

You will have the opportunity to study a foreign language, free of charge, during your time at the University on a not-for-credit basis as part of the Kingston Language Scheme. Options currently include: Arabic, French, German, Italian, Japanese, Mandarin, Portuguese, Russian and Spanish.

Study abroad as part if your degreeMost of our undergraduate courses support studying or working abroad through the University's Study Abroad or Erasmus programme.

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Key information set

The scrolling banner(s) below display some key factual data about this course (including different course combinations or delivery modes of this course where relevant).

We aim to ensure that all courses and modules advertised are delivered. However in some cases courses and modules may not be offered. For more information about why, and when you can expect to be notified, read our Changes to Academic Provision.

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Location

This course is taught at Penrhyn Road

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Contact us

Admissions team

Location

This course is taught at Penrhyn Road

View Penrhyn Road on our Google Maps
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