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Financial Mathematics and Actuarial Science BSc (Hons)

Fact File

Course Code: CK407

Course Title: Financial Mathematics and Actuarial Science

College: Science, Engineering and Food Science

Financial Mathematics and Actuarial Science

Duration: 4 years

Teaching Mode: Full-time

Qualifications: BSc (Hons)

NFQ Level: Level 8

Costs: Full-time EU/EEA/Swiss State undergraduate students may be exempt from paying tuition fees. The State will pay the tuition fees for students who satisfy the Free Fees Criteria. In 2017/18 the Student Contribution Charge will be €3,000 and the Capitation Fee is expected to be €165.

2017 Entry Requirements: Refer to CK407

Entry Points: CK407: 2016: 560 Points may vary each year.

Overview

This degree course provides a solid education in the fundamentals of financial mathematics and actuarial science, as well as a strong grounding in the core disciplines of the Mathematical Sciences. The quantitative analytical skills developed in this course are used in a variety of settings, both commercial and non-commercial.

Course Details

Year 1 Modules (5 credits each):

Core

AM1052 Introduction to Mechanics;

AM1053 Introduction to Mathematical Modelling;

AM1054 Mathematical Software;

MA1057 Introduction to Abstract Algebra;

MA1058 Introduction to Linear Algebra;

MA1059 Calculus;

MA1060 Introduction to Analysis;

ST1051 Introduction to Probability and Statistics 

Electives

AC1107 Investment in Capital Assets (5 credits);

AC1108 Introduction to Valuation and Risk (5 credits);

BL1005 Introduction to Ecology (5 credits);

CM1006 Introduction to Chemistry for Physicists and Mathematicians (10 credits);

CS1061 Programming in C (5 credits);

CS1065 Computer Applications with Visual Basic (5 credits);

CS1069 Introduction to Internet Technologies (5 credits);

EC1213 & EC1214 Principles of Economic Analysis I & II (5 credits each);

PA1003 Principles of Market Analysis (10 credits);

GL1001 Introduction to Geology (5 credits);

PY1052 & PY1053 Introductory Physics I & II (10 credits each);

PY1054 Special Topics in Physics (5 credits)

Year 2 Modules:

Fourier Methods;  Mathematical Analysis;  Ordinary Differential Equations;  Linear Algebra;  Multivariable Calculus;  Discrete Time Financial Models;  Financial Mathematics;  Financial Modelling for Actuarial Science;  Regression Analysis;  Probability & Mathematical Statistics

Year 3 Modules:

Core

C/C++ Programming with Applications;  Mathematical Analysis;  Derivatives, Securities & Option Pricing;  Financial Modelling for Actuarial Science;  Stochastic Modelling;  Generalised Linear Models;  Statistical Theory of Estimation;  Statistical Theory of Hypothesis Testing

Electives

International Fiannce;  Mathematical Modelling;  Computer Modelling & Numerical Techniques;  Vector & Tensor Methods;  Partial Differential Equations with Applications;  Computational Techniques;  Complex Analysis;  Metric Spaces & Topology;  Principles of Market Analysis;  Survival Analysis;  Stochastic & Survival Models for Actuarial Science;  Methods of Reporting in Actuarial Science

Note: Choice of Electives in Year 3 will have a direct bearing on the number of recommendations for exemptions from professional actuarial examinations for which a FMAS graduate may be eligible

Year 4 Modules:

Core

Measure Theory & Martingales;  Continuous Time Financial Models;  Computational Finance;  Stochastic Modelling;  Statistical Methods in Insurance;  Time Series

Electives

Securities Analysis;  Empirical & Behavioural Finance;  Corporate Financing;  International Finance;  Vector & Tensor Methods;  Nonlinear Dynamics & Control;  Partial Differentiaal Equations with Applications;  Computational Techniques;  Topics in Applied Mathematics;  Applied Stochastic Differential Equations;  Perturbation & Asymptotic Methods;  Complex Analysis;  Metric Spaces & Topology;  Functional Analysis;  Project;  Topics in Modern Algebra;  Topics in Differential Geometry;  Survival Analysis;  Stochastic & Survival Models for Actuarial Science;  Financial Mathematics Project;  Methods of Reporting in Actuarial Science;  Statistical Consulting;  Statistical Methods in Insurance;  Practical Implementation of Statistical Analysis Techniques;  Contingencies;  Computational Statistical Methods for Actuarial Science

Further optional courses offered by the Department of Accounting and Finance may also be taken. In Years 3 and 4, there are opportunities for concentration on either the more applied or the theoretical aspects.

The course provides full coverage of the core technical syllabus of the Institute and Faculty of Actuaries, and has a set of associated Exemption Recognition Agreements in place, which enable graduates of this degree to pursue careers in the actuarial profession.

See the College Calendar for additional information on the Programme and the Book of Modules for further information on the modules.

Course Practicalities

Typically there are 18 contact hours per week for a total of 24 weeks of instruction. The contact hours include about 12 lectures and six tutorials/practicals. Each contact hour gives rise to at least two hours of study, including homework.

Assessment

Written exams take place before Christmas and in May.  Not all modules will have formal examinations.  Many modules use other types of assessment.

Further Contact Information

E: School of Mathematical Sciences: sms@ucc.ie

P: +353 21 420 5818

W: http://www.ucc.ie/en/matsci/

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