MSc Quantitative Financial Engineering

Entry requires a UK 2.1 degree or equivalent in Mathematics, Statistics, or a related subject with a substantial mathematics content from a British or overseas university.

We are looking to train those who not only have a strong background in mathematics, but who also possess the ability to communicate effectively, and have the desire to succeed in a dynamic and competitive industry.

The programme is not suitable for finance professionals without graduate-level mathematical training

https://www.hw.ac.uk/study/fees-funding.htm

MACS postgraduate scholarships

Some scholarships of £3,500 will be awarded to outstanding applicants to our MSc in Actuarial Management.

You may also be interested in the Scottish Funding Council (SFC) Key Skills Funded Places available to MACS Students. A number of full fee bursaries are available to applicants permanently resident in Scotland.

The taught component of the degree makes up 120 credits. There are seven mandatory courses leading to 75 credits and consisting of:

• Enterprise Risk Management (15 credits, Semesters 1) – a comprehensive treatment of Financial Risk Management focusing on quantitative aspects.
• Derivative Markets and Pricing (15 credits, Semester 1) – an introduction to derivative markets and how derivative products are priced.
• Modelling and Tools (15 credits, Semester 2) – the fundamental techniques of deterministic and probabilistic mathematical modelling.
• Financial Engineering (15 credits, Semester 2) – provides a thorough grounding in the mathematics underpinning Financial Engineering. Topics include non-standard derivatives, securitisation and structuring, modelling interest rates (including Libor Market Models and valuing swaptions) and contemporary issues in asset management (relative value and pairs trading strategies).
• Credit Risk Modelling (15 credits, Semester 2) – a detailed treatment of the mathematics underpinning Basel Accord on banking supervision and Solvency II for insurance.

Students will also choose three of the following five optional courses leading to a further 45 credits

• Statistical Methods (15 credits, Semester 1) – a foundation course in probability and statistics.
• Financial markets (15 credits, Semester 1) – an introduction to the financial markets.
• Time Series Analysis and Financial Econometrics (15 credits, Semester 2) – analysis and modelling of financial data.
• Modern Portfolio Theory (15 credits, Semester 2) – classical portfolio theory based on maximising expected utility
• Bayesian Inference & Computational Methods (15 credits, Semester 2) – a course on modern Bayesian statistical inference and involving implementing the Bayesian approach in practical situations