UCC Postgraduate courses

Financial and Computational Mathematics

About This Course

Fact File

  • Title

    Financial and Computational Mathematics

  • Code

    CKR24

  • College

    Science, Engineering and Food Science

  • Duration

    1 Year

  • Teaching Mode

    Full-time

  • Qualifications

    MSc

  • EU Fees 2019

    €8,000
    See Fees and Costs for full details.

  • Non-EU Fees 2019

    €18,000

  • Entry Requirements

    See Requirements for full details.

  • Closing Date

    Currently accepting applications

  • Non-EU Closing Date

    15th June

  • Start Date

    9 September 2019

Course Outline

Modern finance is increasingly reliant upon advanced mathematical and computational techniques for the modelling of asset and financial market movements, the design and valuation of financial derivatives, and portfolio management.

This course provides an appropriately rigorous treatment of branches of mathematics applicable to financial modelling, including measure-theoretic probability, stochastic processes in discrete and continuous time, and partial differential equations. It is mathematically challenging and requires prior familiarity with multivariate calculus, differential equations, linear algebra, probability, and statistics. You should also have some experience of programming.

The rapid increase in available computing speeds over the past fifteen years has led to the widespread adoption of sophisticated computational methods for financial modelling and the development of algorithmic approaches to market trading.

Computational methods form a core part of this course; we provide exposure to relevant software including Python, R and C#, and provide the option to study machine learning, which is emerging as an essential and rapidly developing tool in industry.

PART 1

Core Module (45 credits)

  • MF6010 Probability Theory in Finance (10 credits)
  • MF6011 Derivatives, Securities, and Option Pricing (5 credits)
  • MF6012 Computational Finance I (5 credits)
  • MF6013 Computational Finance II (5 credits)
  • MF6014 Topics in Financial Mathematics (5 credits)
  • MF6015 Continuous-Time Financial Models (5 credits)
  • AM6004 Numerical Methods and Applications (5 credits)
  • CS6322 Optimisation (5 credits)

Elective Modules (Choose 15 credits)

  • AM4062 Applied Stochastic Differential Equations (5 credits)
  • AM6007 Scientific Computing with Numerical Examples (10 credits)
  • AM6019 Partial Differential Equations (5 credits)
  • ST4400 Data Analysis II (5 credits)
  • ST6040 Statistical Analytics Implementations I (5 credits)
  • ST6041 Statistical Analytics Implementations II (5 credits)
  • CS6503 Introduction to Relational Databases (5 credits)

PART 2

  • MF6016 Dissertation in Financial and Computational Mathematics (30 credits)

 Note: Module selection must be approved by the module co-ordinator.

Modules

Further details on the modules listed above can be found in our book of modules. Any modules listed above are indicative of the current set of modules for this course but are subject to change from year to year.

University Calendar

You can find the full academic content for the current year of any given course in our University Calendar.

Course Practicalities

In Semesters 1 and 2 you can expect to attend an average of 12 hours of lectures and 6-8 hours of tutorials and lab sessions per week, which will be spread evenly throughout the working day. The remainder of your time will be spent in independent study, exercises and assignments.

Semester 3 will be entirely devoted to a substantial research project which requires you to write, submit and defend a dissertation. Computer labs are provided on campus with all relevant software packages, though students are also encouraged to have access to a laptop of their own.

Teaching at UCC is research-led, and the course is delivered by mathematicians, statisticians and computer scientists who are internationally recognised for their research, ensuring that you will have access to up-to-date knowledge in the field. Relevance to current industry practice is ensured by our Industry Advisory Committee.

Why Choose This Course

Employers in the banking and investment sector require graduates with a deep understanding of the relevant mathematical concepts as well as the practical and computational skills associated with applying them. This course provides both, and is an opportunity for students pursuing mathematical degrees that are not specifically financial in nature to continue to studies in advanced mathematics with a financial focus, and therefore enhance their employment options.

The course combines mathematical rigour with an emphasis on computational finance and the opportunity to study machine learning, a combination that is currently unique in Ireland. The opportunity to work in teams is built into the programme structure.

UCC itself enjoys proximity to financial employers in Ireland (for the example in the IFSC in Dublin) and in other European financial centres, including London. Students applying from overseas may also wish to consider Ireland’s Third Level Graduate Scheme, details of which are available at http://inis.gov.ie/en/INIS/Pages/Student%20Pathway.

Skills and Careers Information

Graduates will be prepared for quantitative roles in the financial services sector and particularly in investment banking, including roles in financial engineering, quantitative finance, investment analysis and fund management. The programme also serves as a route to further study in this area.

Requirements

  • Candidates must have obtained at least a 2.2 honours degree or equivalent in the mathematical sciences or another highly numerate discipline;
  • Candidates who have obtained at least a 2.2 honours degree in Engineering or Physics may be considered but are expected to have sufficient background in university-level mathematics as assessed by the Course Co-ordinator;
  • All candidates must be ultimately approved by the Course Co-ordinator.

English Language Requirements

Applicants that are non-native speakers of the English language must meet the university approved English language requirements available here.

For applicants with qualifications completed outside of Ireland

Applicants must meet the required entry academic grade, equivalent to Irish requirements, please find our grades comparison by country here

International/non-EU applicants

For full details of the non-EU application procedure please visit our how to apply pages for international students. In UCC, we use the term programme and course interchangeably to describe what a person has registered to study in UCC and its constituent colleges, schools, and departments.

Not all courses are open to international/non-EU applicants, please check the fact file above.

For more information please contact the International Office.

Fees and Costs

The EU fee for this course is €8,000.

The Non-EU fee for this course is €18,000.

Full-time/Part-time fee:

If your course is offered full time and part time, normally the fee for the part-time course is half the full-time fee per year, please check the fact file for confirmation.

Deposits:

If your course required a deposit, that figure will be deducted from your second semester fee payment in January.

EU student fee payment:

Fees for EU students are payable in two equal instalments. First payment at registration in August and the second in January.

International student fee payment:

Fees for Non-EU Students are payable in one instalment in August.

How can I pay?

By Credit/Debit card online or by credit transfer.

Questions?

If you have any questions on fee payment please email our Fees Office at fees@ucc.ie .

Non-EU Fees

The fee schedule for 2019/2020 is available here.

How Do I Apply

1. Choose Course

Firstly choose your course. Applicants can apply for up to three courses under one application. Details of taught courses are available on our online prospectus.

2. Apply Online

Once you have chosen your course you can apply online at the Postgraduate Applications Centre (PAC). Applicants will need to apply before the course closing date. There is a €50 application fee for all courses apart from the Education - Professional Master of Education - (Secondary School/Post-Primary Teacher Training) which has a €100 application fee.

3. Gather Supporting Documents

Scanned copies of the following documents will need to be uploaded to PAC in support of your application. Applicants may need to produce the original documents if you are accepted onto a course and register at UCC.

  • Original qualification documents listed on your application including transcripts of results from institutions other than UCC
  • Any supplementary forms requested for your course.

Please log into PAC for more details.

4. Application processing timeline

Our online application system PAC opens for applications for most courses in early November of each year. Check specific course details. 

Rounds

For courses that are in the rounds system (Irish and EU applicants), please check the rounds closing dates here

Questions on how to apply?

Please use our web enquiry form to contact us.

The closing date for non-EU applications is 15th June

Apply Now

For queries regarding course content or timetables please contact

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