Undergraduate BSc (Hons)

Financial Mathematics

School of Computing, Science & Engineering

Full-time

Attendance

Three year

Course

September 2019

Next enrolment
Introduction

In a nutshell

Many of civilisation’s greatest achievements are built on mathematics. By choosing a financial mathematics degree, you will learn to make an important contribution to banking, finance and emerging Fintech industries.

Our financial mathematics course is designed to take you to an advanced level. Blending applied methods with cutting-edge themes, like nanotechnology, economic stability and artificial intelligence, you’ll graduate with in-demand skills for the contemporary business environment.

You will:
  • Be taught by a combination of experienced mathematicians and finance sector staf
  • Engage with business and the finance sector throughout the course
  • Simulate and provide results for a broad range of financial activities such as the stock market
  • Have the opportunity to choose a language module to study as part of your degree
Placement

options available

International

students accepted

This is for you if...

1.

You have a passion and enthusiasm for mathematics

2.

You enjoy being challenged and working with other like-minded people

3.

You want to develop specialist knowledge in applying mathematics in financial industries

Course details

All about the course

This industry-focused course will provide you with a broad understanding of applied financial mathematics.

In year one, you will strengthen your existing knowledge of linear algebra, calculus and probability, whilst also learning the principles of economics and financial applications.

In year two, you will model the mathematics of financial derivatives that simulates the stock market and continue to solve real-world problems.

In your final year, you can choose specialist options alongside core modules and complete your final project on a detailed financial mathematics application.

Study options

You can also study this course with an industrial placement year, which would make the course four years long. Industry placement years are a great way to improve your cv, get hands-on experience and build connections within your chosen industry. 

 
Year one

Linear Algebra

Linear algebra is a fundamental topic which has applications in many branches of mathematics. You will look at the methods and theory behind the solution of simultaneous equations, and you will develop skills in solving linear problems using matrix methods and the concept of abstract vectors.

Mathematical Methods 1

You will build on your A-Level (or equivalent) mathematical techniques and knowledge in preparation for subsequent mathematics modules. Specifically, you will cover the subject of differential equations with applications.

Mathematical Modelling

This module will build upon and extend your A-Level (or equivalent) mathematical techniques providing a mathematical foundation in support of subsequent mathematics modules. You will also cover differential equations with applications and be introduced to problem solving using a symbolic computing environment.

Probability

This module will build upon and extend your A-Level (or equivalent) mathematical probability knowledge and develop the subject of probability with applications.

Organisations in a Global Environment

This module introduces you to how organisations function in a global context.

Principles of Economics

This module introduces you to the key concepts of modern economics, including how markets function as the foundation of contemporary economies

Year two

Mathematics of Financial Derivatives 1

This module introduces financial derivatives, their pricing and modeling through various calculus techniques. It introduces Martingales and Ito’s lemma.

Mathematics Methods 2

You will extend your methods in differential and integral calculus, first and second order partial differential equations and methods in differential and integral calculus for the complex variable.

Mathematical Modelling 2

This module will give you experience in business and financial working practices and how to solve practical financial mathematical problems.At the beginning of the module a series of seminars will be given by speakers on a variety of applications in business and finance, and how these impact on their work. Deliverables, which consist of written reports and oral presentations, are assessed on a group basis and are to be produced both during and at the end of the semester to strict deadlines.

Statistics

You will develop a sound knowledge in probability models and distribution theory, skills in statistics and data analysis and provide an awareness of the principles and scope of data analysis models often implemented in statistical software packages.

Financial Markets and Instruments

This module describes the various financial instruments, assets and markets in detail.

Choose one option from:

Legal Aspects of Business

This module introduces you to the operation of global legal systems and the areas of law that underpin the practice of effective business management. You will develop a working knowledge of law relating to contracts and their effective negotiation in different business environments.

University Wide Language

Courses are available in: Arabic, German, French, Italian, Japanese, Mandarin Chinese and Spanish.

Year three

Mathematics of Financial Derivatives 2

This module develops detailed mathematical modules for financial derivatives, for example using the Black-Scholes differential equation, Martingales, and also using Fourier Transforms.

Financial Risk Management

This module discusses trading in the financial markets, the financial crisis of 2007, and how to manage risk.

Project

The project will give you the opportunity to develop a mathematical model within a challenging research theme, including those areas prioritised by EPSRC and the EU Research Council and of benefit and importance to society. These are: climate, nanotechnology, renewable energy and sustainable economics. The aim is for you to demonstrate your understanding of the application of mathematics to one of these areas and give you an opportunity to demonstrate your knowledge, understanding and skills.

Operational Research

You will learn the skills to construct mathematically based models to find better solutions to real-life and complex decision-making problems. These models draw upon mathematical knowledge, such as mathematical modelling, statistical analysis, mathematical optimization and artificial intelligence to find an optimal or near-optimal solution to problems from a variety of industries and government areas.

Choose one option from:

International and Business Finance

This module demonstrates key concepts of finance, such as raising capital, capital markets, the structure of firms and evaluating the global financial environment in which firms operate.

Advanced Management Accounting

You will develop your ability to evaluate and analyse financial control processes and consider alternative mechanisms for delivering information to management for control and decision making purposes.

Business Taxation

This module evaluates the UK taxation system and the global environment. You will review core subjects including the taxation of sole traders, partnerships and limited companies.

Please note that it may not be possible to deliver the full list of options every year as this will depend on factors such as how many students choose a particular option. Exact modules may also vary in order to keep content current. When accepting your offer of a place to study on this programme, you should be aware that not all optional modules will be running each year. Your tutor will be able to advise you as to the available options on or before the start of the programme. Whilst the University tries to ensure that you are able to undertake your preferred options, it cannot guarantee this.

What will I be doing?

Teaching

You will develop your knowledge and skills through a blend of theoretical, collaborative and practical methods:

  • Talks and lectures by academics and guests
  • Business and finance speakers
  • Practical workshops
  • Case studies and project work
  • Group assignments
  • Online learning using Blackboard
Assessment

You will be assessed using a combination of formats:

  • Presentations: individual or group presentations of the final outcome to a particular assignment or brief
  • Examinations: usually two hours in duration and aim to test material presented in lectures, workshops and seminars
  • Written assessments: class tests, reports and evaluations

Some modules use 50% coursework/50% exam weighting, but most use 30% coursework/70% exams criteria.

The School of Computing, Science and Engineering

The School of Computing, Science and Engineering (CSE) seeks to improve lives through proactive collaboration with industry and society. Our stimulating, industry-accredited courses and research programmes explore engineering, physics, acoustics, computing, mathematics and robotics. Through our award-winning lecturers, world-class facilities and research-led teaching, CSE produces highly employable graduates ready for the challenges of today and tomorrow.

Employment and stats

What about after uni?

Employment

With a mathematics degree from Salford, you should have the knowledge and understanding of mathematical and scientific methods. You will be to build a career in industries such as finance, investments, market research, meteorology, engineering or operations, or progress on to further study.

Further study

We offer a range of specialism postgraduate study paths to help you take your career even further. We even offer a fee discount to our graduates and alumni.

A taste of what you could become

A banker

An investment analyst

A data analyst

An accountant

A markets trader

And more...

Career Links

Work placements form a key part of your studies and provide a structured link between study and exposure to professional practice, and allow you to witness your development in an industry setting.

The University has a wide range of long-standing and professional relationships with businesses and financial service sector companies in the north-west and beyond, to ensure you receive relevant industry contact during your studies.

Requirements

What you need to know

There is a Foundation Year available for this course. See here for further information.

English Language Requirements

International applicants will be required to show a proficiency in English. An IELTS score of 6.0 (with no element below 5.5) is proof of this. If you need to improve your written and spoken English, you might be interested in our English language courses.

Applicant Profile

There is no such thing as a 'typical'  student. The only common features are that they share intelligence, enthusiasm for the subject, and that they are motivated, determined, and enjoy being challenged and working with other like-minded people.

We also welcome applications from mature students who may not have academic qualifications in related subjects, but may have experience in industry, in which cease please contact the School for more information.

All applicants that meet the entrance requirements for the course will be invited to attend an applicant visit day.

Standard Entry Requirements

GCSE

English language and maths at grade C/grade 4 or above

You must fulfil our GCSE entry requirements as well as one of the requirements listed below.

UCAS tariff points

112 points - must include a Grade C or above in mathematics

Scottish Highers

112 points - Grade 4 or above in maths and English language

International Baccalaureate

31 Grade 6 in maths at Higher Level

Alternative Entry Requirements

Salford Alternative Entry System (SAES)

We welcome applications from students who may not meet the stated entry criteria but who can demonstrate their ability to pursue the course successfully. Once we have received your application we will assess it and recommend it for SAES if you are an eligible candidate.

There are two different routes through the Salford Alternative Entry Scheme and applicants will be directed to the one appropriate for their course. Assessment will either be through a review of prior learning or through a formal test.

How much?

Type of study Year Fees
Full-time home/EU 2019 £9,250per year
Full-time international 2019 £14,820per year
Additional costs

You should also consider further costs which may include books, stationery, printing, binding and general subsistence on trips and visits.

Scholarship Opportunity

Thanks to the generosity of the Morson Group, applicants for this course can qualify to apply for one of five scholarships. Each scholarship is worth a total of £9,000, paid as two cash award instalments of £1,500 each per annum for a maximum of three years.

The scholarships aim to ensure that talented students starting their first year are not deterred from studying at the University of Salford for financial reasons.  Qualifying students will be encouraged to apply following registration and enrolment in September 2019. Priority will be given to students who:

  • Can demonstrate the scholarship will provide the necessary support during their studies;
  • Would otherwise be deterred from an undergraduate degree by tuition fees and associated living costs; 
  • Live in the North West England; 
  • Have at least 112 UCAS points or equivalent. 
Apply now

All set? Let's apply

Enrolment dates

September 2019

September 2020

UCAS information

Course ID GN13

Institution S03