Loughborough University
Leicestershire, UK
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Loughborough University

Programme Specifications

Programme Specification

MA MSc Industrial Mathematical Modelling/ MSc Mathematical Finance

Academic Year: 2017/18

This specification provides a concise summary of the main features of the programme and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if full advantage is taken of the learning opportunities that are provided.

This specification applies to delivery of the programme in the Academic Year indicated above. Prospective students reviewing this information for a later year of study should be aware that these details are subject to change as outlined in our Terms and Conditions of Study.

This specification should be read in conjunction with:

  • Reg. XXI (Postgraduate Awards) (see University Regulations)
  • Module Specifications
  • The teaching, learning and assessment strategies used at Loughborough (available soon)
  • What makes Loughborough University programmes and its graduates distinctive (available soon)
  • Summary
  • Programme aims
  • Learning outcomes
  • Programme structure
  • Progression and weighting

Programme summary

Awarding body/institution Loughborough University
Teaching institution (if different)
Owning school/department Department of Mathematical Sciences
Details of accreditation by a professional/statutory body
Final award MSc/PGDip/PGCert
Programme title Industrial Mathematical Modelling/ Mathematical Finance
Programme code See Programme Structure
Length of programme
UCAS code n/a
Admissions criteria

http://www.lboro.ac.uk/departments/maths/postgraduate/programmes/

Date at which the programme specification was published

1. Programme Aims

 

IMM

MF

To deliver a postgraduate curriculum which provides a solid foundation in the core areas of mathematics relevant to industry and stimulates students to meet their own aspirations, interests and educational needs.

x

 

To equip students with certain general skills and thus help them prepare for future employment.

x

 

To provide a mathematically based intellectual education appropriate to the needs of industry.

x

 

To provide students with an environment which enables them to fulfil their potential in industrial mathematical modelling by providing access to appropriate opportunities, support and educational experiences.

x

 

To develop students’ understanding in a particular area of interest by undertaking a research based project.

 

x

To introduce students to the theoretical background of measure and integration theory, martingales and stochastic processes, and their applications in finance, derivatives industry, option pricing and hedging.

 

x

To prepare graduates with strong mathematical skills, necessary computational techniques and the finance background necessary for employment in areas of the financial sector such as banks, hedge funds and insurance companies or for research careers in relevant subject areas.

 

x

2. Relevant subject benchmark statements and other external and internal reference points used to inform programme outcomes:

  • The Benchmark Statement for Mathematics, Statistics and Operational Research (MSOR)
  • Framework for Higher Education Qualifications
  • Loughborough University Learning and Teaching Strategy
  • School Assessment Policy and Assessment Strategy
  • Annual and Periodic Programme Review
  • External Examiner’s Reports
  • School Industrial Steering Committee
  • Staff/Student Committees
  • School staff specialisms

 

3. Programme Learning Outcomes

3.1 Knowledge and Understanding

Students will gain knowledge and understanding in the following areas:

IMM

MF

K1

The relevance of mathematics in the analysis of problems of concern to industry

x

 

K2

The core discipline of mathematical modelling

x

 

K3

A range of analytical, numerical and qualitative techniques

x

 

K4

The application of computer software to the solution of mathematical problems

x

 

K5

The mathematical techniques that can be employed to model the kinds of stochastic processes that arise in financial markets

 

x

K6

A range of analytical, numerical and qualitative techniques that are relevant to problems which arise in the financial sector

 

x

3.2 Skills and other attributes

a. Subject-specific cognitive skills:

Students should gain the ability to:

IMM

MF

C1

Construct logical mathematical arguments in the context of industrial mathematical modelling

x

 

C2

Relate mathematics to problems within an industrial context in order to obtain quantitative and qualitative information about the underlying physical processes

x

 

C3

Express certain problems which arise in the financial sector in mathematical terms

 

x

C4

Identify appropriate mathematical techniques that can be applied to such problems

 

x

b. Subject-specific practical skills:

Students should gain the ability to:

IMM

MF

P1

Select and apply appropriate mathematical tools for a specific problem

x

 

P2

Use a range of mathematical techniques to obtain quantitative and qualitative information about financial processes

 

x

c. Key transferable skills:

Students should gain the ability to:

IMM

MF

T1

Possess general study skills, including the ability to learn independently using a variety of media

x

x

T2

Have good time management and organisational skills

x

x

T3

Be logical and analytical, and possess skills in IT, communication, presentation and problem solving

x

x

4. Programme structure

Programme title and code

Programme Code

Title

Award

Abbreviation

MAPT30

Industrial Mathematical Modelling

MSc

IMM

MAPT31

Mathematical Finance

MSc

MF

 

Programme structure

Key

x = Compulsory Module

o = Optional Module

 

Code

Title

Cred

Sem

IMM

MF

MAD102

Regular and Chaotic Dynamics

15

1

x

o

MAD103

Lie Groups and Lie Algebras

15

1

 

o

MAP102

Programming and Numerical Methods

15

1

x

o

MAP104

Introduction to Measure Theory and Martingales

15

1

 

x

MAP111

Mathematical Modelling I

15

1

x

 

MAP114

Stochastic Models in Finance

15

1

 

x

MAD203

Functional Analysis

15

2

 

o

MAP201

Elements of PDEs

15

2

x

o

MAP202

Static and Dynamic Optimisation

15

2

x

o

MAP204

Stochastic Calculus and Theory of Stochastic Pricing

15

2

 

x

MAP211

Mathematical Modelling II

15

2

x

 

MAP213

Fluid Mechanics

15

2

x

 

MAP300

Industrial Modelling Research Project

60

Other

x

 

MAP301

Mathematical Finance Research project

60

Other

 

x

TTP210

Advanced Reliability, Availability & Sustainability

15

1

x

 

ECP201

The Financial System

15

1

 

o

ECP202

Financial Economics

15

1

 

o

ECP251

Asset Management and Derivatives

15

2

 

o*

ECP255

Corporate Finance

15

2

 

o*

           

Key

* Students may take EITHER ECP251 OR ECP255

     

 

5. Criteria for Progression and Degree Award

In order to be eligible for the award, candidates must satisfy the requirements of Regulation XXI.

Students who fail the assessment at their first attempt are allowed the opportunity for reassessment.  This may take place at the Special Assessment Period (if available) or when the module is offered in the following year.

 

 

6. Relative Weighting of Parts of the Programme for the purposes of Final Degree Classification

Prospective students

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