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MSc Financial Engineering

Use applied mathematics to analyse complex economic issues and financial markets

Year of entry: 2020

Length

1 year full-time

Start date

September 2020 (term dates)

Postgraduate opportunities

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Take advantage of expertise from two leading departments as you combine applied and computational mathematics with econometrics and quantitative finance.

We'll train you in core skills for financial engineering and you'll learn to use the key mathematical models that are fundamental to analysing financial issues. Our option modules will allow you to explore the topics in finance that you are particularly interested in.

Our expert tutors will help you to lay the foundations for a career as a quantitative analyst in top financial institutions, as well as opening opportunities in other careers involving financial management or analysis.

This intensive course is featured on RiskNet and jointly delivered by the Department of Mathematics and the Department of Economics and Related Studies.

Making an impact

The Department of Economics and Related Studies was top 10 in the UK for 'research impact' in Times Higher Education's ranking of the 2014 Research Excellence Framework.

Research excellence

In the 2014 Research Excellence Framework assessment, 80% of research activity in the Department of Mathematics was designated 'world-leading' or 'internationally excellent'.

Course content

You'll develop your skills and knowledge in econometrics and quantitative finance alongside applied and computational mathematics, guided by experienced and enthusiastic lecturers from the Departments of Mathematics and Economics.

Both departments host lively calendars of seminars and lectures, allowing you to expand your learning through visits from distinguished scholars and practitioners.

Modules

Through core modules totalling 100 credits, you'll build a firm understanding of the mathematical tools and theories used in financial engineering. You'll also choose 20 credits of option modules, allowing you to explore in detail the subjects you're most interested in.

Core modules

Option modules

Please note, modules may change to reflect the latest academic thinking and expertise of our staff.

Dissertation

You'll complete a piece of independent research carried out over three months in the summer, supported by regular meetings with a dedicated supervisor. Your dissertation offers you the chance to examine a topic in depth, often based on recent developments in mathematical finance, and to develop your academic research skills.

The York approach

Every course at York is built on a distinctive set of learning outcomes. These will give you a clear understanding of what you will be able to accomplish at the end of the course and help you explain what you can offer employers. Our academics identify the knowledge, skills, and experiences you'll need upon graduation and then design the course to get you there.

Students who complete this course will be able to:

  • Evaluate complex and unpredictable financial problems and formulate effective strategies to resolve them using financial mathematical investigation techniques
  • Proficiently deploy mathematical, financial and computational languages and tools to address real world financial problems, including working flexibly with specific mathematical and statistical software
  • Critically analyse mathematical, theoretical and financial models and statements to determine their validity with the aim of revising and adapting them to various contexts in an informed and wellreasoned fashion
  • Identify and adapt appropriate statistical models to analyse econometric data with the aim of determining patterns of unpredictable stochastic shocks and predicting potential future financial outcomes
  • Communicate technical information clearly, combining expert and proficient use of mathematical, statistical and financial terminology with more intuitive summaries of complex concepts for any nonexpert readers
  • Handle different disciplinary and professional contexts through adapting formal mathematical and computation logic to financial and statistical applications
  • Independently plan and execute projects through integrating and adapting mathematical, computational, financial and statistical skills, developing strategies and models to investigate problems and proposing recommendations informed by appropriate research
  • Conduct effective literature searches, including using bibliographic databases, through identifying and critically evaluating the relevance, validity and currency of the information and the reliability of the source

Fees and funding

Annual tuition fees for 2020/21

Study modeUK/EUInternational
Full-time (1 year) £12,060£24,620

Students on a Tier 4 Visa are not currently permitted to study part-time at York.

Fees information

UK/EU or international fees? The level of fee that you will be asked to pay depends on whether you're classed as a UK/EU or international student.

Funding information

Discover your funding options to help with tuition fees and living costs.

If you've successfully completed an undergraduate degree at York you could be eligible for a 10% Masters fee discount.

Home/EU students

International students

Living costs

You can use our living costs guide to help plan your budget. It covers additional costs that are not included in your tuition fee such as expenses for accommodation and study materials.

Teaching and assessment

Teaching format

Our teaching is informed by the latest research, meaning you can focus on the latest ideas and models.

We use a wide range of teaching methods including:

  • Lectures
  • Problem classes
  • Seminars
  • Tutorials

For some modules you may also attend practical classes, computer laboratories or workshops.

Lectures describe new concepts you will have to learn, and in problems classes you'll put them into practice. Seminars are small, interactive sessions which allow us to focus on your individual needs. You'll be able to use our Virtual Learning Environment to supplement lectures and seminars.

While you're working on your project and your dissertation you'll have regular meetings with your academic supervisor who will offer advice and support. We aim to give you a supervisor with specialist knowledge of the area you're investigating.

Teaching location

You will be based in the Department of Mathematics in James College on Campus West. Most of your small group teaching will take place in the Department's dedicated MSc seminar room, with larger classes taking place close by in James College, Derwent College and elsewhere on Campus West.

About our campus

Our beautiful green campus offers a student-friendly setting in which to live and study, within easy reach of the action in the city centre. It's easy to get around campus - everything is within walking or pedalling distance, or you can always use the fast and frequent bus service.

Assessment and feedback

Taught modules are assessed by a combination of the following types of assessment:

  • Closed book written exam
  • Coursework
  • Projects
  • Presentations

The closed book written exam assesses your subject-specific knowledge through theoretical and practical questions, in an array of targeted and broad, open-ended problems. These require topic knowledge and the ability to recognise, compare and critically evaluate different knowledge areas.

The coursework and projects consist of problems and practical tasks that might require the use of software. You'll develop your subject knowledge and analytical skills as well as your ability to apply, implement and interpret theory.

Presentations are specifically designed to enhance your communication skills for a range of audiences, from subject experts to the general public.

In the independent study module, you'll conduct a piece of applied research. You'll continue to develop your critical reasoning and digital literacy skills, including programming. As this module is assessed with a dissertation, your training is rounded off by consistently working on your written communication skills.

Careers and skills

This course will build the foundations necessary for a successful career as a quantitative analyst in top financial institutions worldwide. It is also an ideal basis for progression to a PhD.

Career opportunities

  • Fund management
  • Financial risk management
  • Insurance
  • Actuarial work
  • Taxation

Transferable skills

  • Time management
  • Logic and reasoning
  • Analytical thinking
  • Practical problem-solving
  • Communication skills

Entry requirements

Qualification Typical offer
Undergraduate degree 2:1 or equivalent in a discipline with sufficient background in mathematical sciences, economics and finance. We will also 2:2 if you complete the online pre-sessional course Mathematical Foundations of Quantitative Finance with a final grade of at least 60%.
Other qualifications and experience Professional experience in quantitative finance will be an advantage, but not a prerequisite, and can compensate to some extent for limited formal training.

English language

If English isn't your first language you may need to provide evidence of your English language ability. We accept the following qualifications:

Qualification Minimum requirement
IELTS 6.0, minimum 5.5 in each component
PTE Academic 61, minimum 55 in each component
GCSE/IGCSE/O level English Language (as a first or second language) C or above
C1 Advanced and C2 Proficiency 169, minimum 162 in each component
TOEFL 79, minimum 17 in Listening, 18 in Reading, 20 in Speaking and 17 in Writing
Trinity ISE III Pass in each component

For more information see our postgraduate English language requirements.

If you've not met our English language requirements

You may be eligible for one of our pre-sessional English language courses. These courses will provide you with the level of English needed to meet the conditions of your offer.

The length of course you need to take depends on your current IELTS scores and how much you need to improve to reach our English language requirements.

After you've accepted your offer to study at York, we'll confirm which pre-sessional course you should apply to via You@York.

Applying

You can apply and send all your documentation electronically through our online system. You don’t need to complete your application all at once: you can start it, save it and finish it later.

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Department of Economics and Related Studies, Department of Mathematics

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