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Students
Tuition Fee
USD 31,860
Per year
Start Date
Not Available
Medium of studying
On campus
Duration
Not Available
Program Facts
Program Details
Degree
Bachelors
Major
Mathematics | Statistics
Discipline
Science
Minor
Mathematical Statistics and Probability
Education type
On campus
Timing
Full time
Course Language
English
Tuition Fee
Average International Tuition Fee
USD 31,860
Intakes
Program start dateApplication deadline
2023-10-02-
About Program

Program Overview


Overview





Top reasons to study with us

  • 14

    14th for Mathematics

    The Times and Sunday Times Good University Guide

    (2023)

  • 16

    16th for in Mathematics

    The Guardian University Guide

    (2023)

  • 100% of our research impact rated outstanding (REF2021)

  • Mathematics and statistics underpin all aspects of modern life: advances in science, innovations in medicine, new technology, and business. A placement year offers you the chance to apply the knowledge you’ve gained in your first two years and will prepare you for a wide range of rewarding career opportunities.

    Mathematics and statistics allow us to understand our world at the most fundamental level. Studying these subjects provides us with information in its purest form, giving us answers to problems from all aspects of life. You can learn to study and predict patterns and changes in everything, including human behaviour, plant growth, chemical reactions, and stocks and shares. As a result, an advanced understanding of maths and stats is highly sort after in a range of industries.

    During your first year, you will build on your previous knowledge and understanding of mathematical methods and concepts. Modules cover a wide range of topics from calculus, probability and statistics to logic, proofs and theorems. As well as developing your technical knowledge and mathematical skills, you will also enhance your data analysis, problem-solving and quantitative reasoning skills.

    In the second year, you will further develop your knowledge in analysis, algebra, probability and statistics. You will also be introduced to Computational Mathematics, exploring the theory and application of computation and numerical problem-solving methods. While studying these topics, you will complete our Project Skills module, which provides you with the chance to enhance your research and employment skills through an individual and group project. Additionally, you will gain experience of scientific writing, and you will practise using statistical software such as R and LaTeX.

    To prepare you for your work placement year, our Careers and Placements Team will provide advice and guidance on: the skills required to create effective CVs, cover letters and applications; tips and techniques on how to make an impact at interviews and assessment centres; how to create a relevant digital profile; and how to research employers and career sectors of interest. In addition, there is great emphasis placed upon developing self-awareness and on how to present yourself in a professional manner to employers. This optional provision will be delivered via a blend of traditional and digital methods including face-to-face workshops, online webinars, e-courses and 1:1 appointments.

    In third year you will undertake a 12 month placement which will allow you to apply the knowledge and skills that you’ve learnt in Years 1 and 2, and to gain invaluable experience which will make you highly employable when you graduate.

    The University will use all reasonable effort to support you to find a suitable placement for your studies. While a placement role may not be available in a field or organisation that is directly related to your academic studies or career aspirations, all placement roles offer valuable experience of working at a graduate level and gaining a range of professional skills. If you are unsuccessful in securing a suitable placement for your third year, you will be able to transfer to the equivalent non-placement degree scheme and continue with your studies at Lancaster, finishing your degree after your third year.

    Your final year offers a wide range of specialist optional modules, allowing you to develop and drive the programme to suit your interests and guide you to a specific career pathway. You will have the chance to apply the skills and knowledge you have gained in the first two years in advanced mathematical modules such as Combinatorics, Number Theory, Medical Statistics and Stochastic Processes. Looking back at your placement year, you will also complete a portfolio of work-based learning reflections such as the skills you’ve developed and the experiences you’ve had, and how this has impacted upon your future aspirations.





    Your department

  • Mathematics and Statistics

    Faculty of Science and Technology
  • Email us
  • Download a Mathematics and Statistics brochure

    Program Outline

    Course Structure

    Lancaster University offers a range of programmes, some of which follow a structured study programme, and others which offer the chance for you to devise a more flexible programme to complement your main specialism. We divide academic study into two sections - Part 1 (Year 1) and Part 2 (Year 2, 3 and sometimes 4). For most programmes Part 1 requires you to study 120 credits spread over at least three modules which, depending upon your programme, will be drawn from one, two or three different academic subjects. A higher degree of specialisation then develops in subsequent years. For more information about our teaching methods at Lancaster please visit our Teaching and Learning section.

    The following courses do not offer modules outside of the subject area due to the structured nature of the programmes: Architecture, Law, Physics, Engineering, Medicine, Sports and Exercise Science, Biochemistry, Biology, Biomedicine and Biomedical Science.

    Information contained on the website with respect to modules is correct at the time of publication, and the University will make every reasonable effort to offer modules as advertised. In some cases changes may be necessary and may result in some combinations being unavailable, for example as a result of student feedback, timetabling, Professional Statutory and Regulatory Bodies' (PSRB) requirements, staff changes and new research.

  • Year 1
  • Year 2
  • Year 3
  • Year 4

  • Core

  • Calculus

    Students are provided with an understanding of functions, limits, and series, and knowledge of the basic techniques of differentiation and integration. Examples of functions and their graphs are presented, as are techniques for building new functions from old. Then the notion of a limit is considered along with the main tools of calculus and Taylor Series. Students will also learn how to add, multiply and divide polynomials, and will learn about rational functions and their partial fractions.

    The exponential function is defined by means of a power series which is subsequently extended to the complex exponential function of an imaginary variable, so that students understand the connection between analysis, trigonometry and geometry. The trigonometric and hyperbolic functions are introduced in parallel with analogous power series so that students understand the role of functional identities. Such functional identities are later used to simplify integrals and to parametrise geometrical curves.

  • Convergence and Continuity

    This module provides a rigorous overview of real numbers, sequences and continuity. Covering bounds, monotonicity, subsequences, invertibility, and the intermediate value theorem, among other topics, students will become familiar with definitions, theorems and proofs.

    Examining a range of examples, students will become accustomed to mathematical writing and will develop an understanding of mathematical notation. Through this module, students will also gain an appreciation of the importance of proof, generalisation and abstraction in the logical development of formal theories, and develop an ability to imagine and ‘see’ complicated mathematical objects.

    In addition to learning and developing subject specific knowledge, students will enhance their ability to assimilate information from different presentations of material; learn to apply previously acquired knowledge to new situations; and develop their communication skills.

  • Discrete Mathematics

    An introduction to the basic ideas and notations involved in describing sets and their functions will be given. This module helps students to formalise the idea of the size of a set and what it means to be finite, countably infinite or uncountably finite. For finite sets, it is said that one is bigger than another if it contains more elements. What about infinite sets? Are some infinite sets bigger than others? Students will develop the tools to answer these questions and other counting problems, such as those involving recurrence relations, e.g. the Fibonacci numbers.

    The module will also consider the connections between objects, leading to the study of graphs and networks – collections of nodes joined by edges. There are many applications of this theory in designing or understanding properties of systems, such as the infrastructure powering the internet, social networks, the London Underground and the global ecosystem.

  • Further Calculus

    This course extends ideas of MATH101 from functions of a single real variable to functions of two real variables. The notions of differentiation and integration are extended from functions defined on a line to functions defined on the plane. Partial derivatives help us to understand surfaces, while repeated integrals enable us to calculate volumes.

    In mathematical models, it is common to use functions of several variables. For example, the speed of an airliner can depend upon the air pressure and temperature, and the direction of the wind. To study functions of several variables, we introduce rates of change with respect to several quantities. We learn how to find maxima and minima. Applications include the method of least squares. Finally, we investigate various methods for solving differential equations of one variable.

  • Geometry and Calculus

    The main focus of this module is vectors in two and three-dimensional space. Starting with the definition of vectors, students will discover some applications to finding equations of lines and planes, then they will consider some different ways of describing curves and surfaces via equations or parameters. Partial differentiation will be used to determine tangent lines and planes, and integration will be used to calculate the length of a curve.

    In the second half of the course, the functions of several variables will be studied. When attempting to calculate an integral over one variable, one variable is often substituted for another more convenient one; here students will see the equivalent technique for a double integral, where they will have to substitute two variables simultaneously. They will also investigate some methods for finding maxima and minima of a function subject to certain conditions.

    Finally, the module will explain how to calculate the areas of various surfaces and the volumes of various solids.

  • Linear Algebra

    Introducing the theory of matrices together with some basic applications, students will learn essential techniques such as arithmetic rules, row operations and computation of determiNAts by expansion about a row or a column.

    The second part of the module covers a notable range of applications of matrices, such as solving systems of simultaneous linear equations, linear transformations, characteristic eigenvectors and eigenvalues.

    The student will learn how to express a linear transformation of the real Euclidean space using a matrix, from which they will be able to determine whether it is singular or not and obtain its characteristic equation and eigenspaces.

  • Numbers and Relations

    The student is introduced to logic and mathematical proofs, with emphasis placed more on proving general theorems than on performing calculations. This is because a result which can be applied to many different cases is clearly more powerful than a calculation that deals only with a single specific case.

    The language and structure of mathematical proofs will be explained, highlighting how logic can be used to express mathematical arguments in a concise and rigorous manner. These ideas will then be applied to the study of number theory, establishing several fundamental results such as Bezout’s Theorem on highest common factors and the Fundamental Theorem of Arithmetic on prime factorisations.

    The concept of congruence of integers is introduced to students and they study the idea that a highest common factor can be generalised from the integers to polynomials.

  • Probability

    Probability theory is the study of chance phenomena, the concepts of which are fundamental to the study of statistics. This module will introduce students to some simple combinatorics, set theory and the axioms of probability.

    Students will become aware of the different probability models used to characterise the outcomes of experiments that involve a chance or random component. The module covers ideas associated with the axioms of probability, conditional probability, independence, discrete random variables and their distributions, expectation and probability models.

  • Series, Integration, and Differentiation

    Building on the Convergence and Continuity module, students will explore the familiar topics of integration, and series and differentiation, and develop them further. Taking a different approach, students will learn about the concept of integrability of continuous functions; improper integrals of continuous functions; the definition of differentiability for functions; and the algebra of differentiation.

    Applying the skills and knowledge gained from this module, students will tackle questions such as: can you sum up infinitely many numbers and get a finite number? They will also enhance their knowledge and understanding of the fundamental theorem of calculus.

  • Statistics

    To enable students to achieve a solid understanding of the broad role that statistical thinking plays in addressing scientific problems, the module begins with a brief overview of statistics in science and society. It then moves on to the selection of appropriate probability models to describe systematic and random variations of discrete and continuous real data sets. Students will learn to implement statistical techniques and to draw clear and informative conclusions.

    The module will be supported by the statistical software package ‘R’, which forms the basis of weekly lab sessions. Students will develop a strategic understanding of statistics and the use of associated software, which will underpin the skills needed for all subsequent statistical modules of the degree.


  • Core

  • Abstract Algebra

    This module builds on the binary operations studies in previous modules, such as addition or multiplication of numbers and composition of functions. Here, students will select a small number of properties which these and other examples have in common, and use them to define a group.

    They will also consider the elementary properties of groups. By looking at maps between groups which 'preserve structure', a way of formalizing (and extending) the natural concept of what it means for two groups to be 'the same' will be discovered.

    Ring theory provides a framework for studying sets with two binary operations: addition and multiplication. This gives students a way to abstractly model various number systems, proving results that can be applied in many different situations, such as number theory and geometry. Familiar examples of rings include the integers, the integers modulation, the rational numbers, matrices and polynomials; several less familiar examples will also be explored.

  • Complex Analysis

    Complex Analysis has its origins in differential calculus and the study of polynomial equations. In this module, students will consider the differential calculus of functions of a single complex variable and study power series and mappings by complex functions. They will use integral calculus of complex functions to find elegant and important results and will also use classical theorems to evaluate real integrals.

    The first part of the module reviews complex numbers, and presents complex series and the complex derivative in a style similar to calculus. The module then introduces integrals along curves and develops complex function theory from Cauchy's Theorem for a triangle, which is proved by way of a bisection argument. These analytic ideas are used to prove the fundamental theorem of algebra, that every non-constant complex polynomial has a root. Finally, the theory is employed to evaluate some definite integrals.The module ends with basic discussion of harmonic functions, which play a significant role in physics.

  • Computational Mathematics

    Students will gain a solid understanding of computation and computer programming within the context of maths and statistics. This module expands on five key areas:

  • Programming and R
  • Numerical solutions of equations
  • Numerical differentiation and integration
  • Monte Carlo methods
  • Numerical solutions to ODEs
  • Under these headings, students will study a range of complex mathematical concepts, such as: data structures, fixed-point iteration, higher dimensions, first and second derivatives, non-parametric bootstraps, and modified Euler methods.

    Throughout the module, students will gain an understanding of general programming and algorithms. They will develop a good level of IT skills and familiarity with computer tools that support mathematical computation.

    Over the course of this module, students will have the opportunity to put their knowledge and skills into practice. Workshops, based in dedicated computing labs, allow them to gain relatable, practical experience of computational mathematics.

  • Linear Algebra II

    Students will be provided with the foundational results and language of linear algebra, which they will be able to build upon in the second half of Year Two, and the more specialised Year Three modules. This module will give students the opportunity to study vector spaces, together with their structure-preserving maps and their relationship to matrices.

    They will consider the effect of changing bases on the matrix representing one of these maps, and will examine how to choose bases so that this matrix is as simple as possible. Part of their study will also involve looking at the concepts of length and angle with regard to vector spaces.

  • Probability II

    Probability provides the theoretical basis for statistics and is of interest in its own right.

    Basic concepts from the first year probability module will be revisited and extended to these to encompass continuous random variables, with students investigating several important continuous probability distributions. Commonly used distributions are introduced and key properties proved, and examples from a variety of applications will be used to illustrate theoretical ideas.

    Students will then focus on transformations of random variables and groups of two or more random variables, leading to two theoretical results about the behaviour of averages of large numbers of random variables which have important practical consequences in statistics.

  • Project Skills

    Project Skills is a module designed to support and develop a range of key technical and professional skills that will be valuable for all career paths. Covering five major components, this module will guide students through and explore:

  • Mathematical programmes
  • Scientific writing
  • Communication and presentation skills
  • Individual projects
  • Group projects
  • Students will gain an excellent grasp of LaTeX, learning to prepare mathematical documents; display mathematical symbols and formulae; create environments; and present tables and figures.

    Scientific writing, communication and presentations skills will also be developed. Students will work on short and group projects to investigate mathematical or statistical topics, and present these in written reports and verbal presentations.

  • Real Analysis

    A thorough look will be taken at the limits of sequences and convergence of series during this module. Students will learn to extend the notion of a limit to functions, leading to the analysis of differentiation, including proper proofs of techniques learned at A-level.

    Time will be spent studying the Intermediate Value Theorem and the Mean Value Theorem, and their many applications of widely differing kinds will be explored. The next topic is new: sequences and series of functions (rather than just numbers), which again has many applications and is central to more advanced analysis.

    Next, the notion of integration will be put under the microscope. Once it is properly defined (via limits) students will learn how to get from this definition to the familiar technique of evaluating integrals by reverse differentiation. They will also explore some applications of integration that are quite different from the ones in A-level, such as estimations of discrete sums of series.

    Further possible topics include Stirling's Formula, infinite products and Fourier series.

  • Statistics II

    Statistics is the science of understanding patterns of population behaviour from data. In the module, this topic will be approached by specifying a statistical model for the data. Statistical models usually include a number of unknown parameters, which need to be estimated.

    The focus will be on likelihood-based parameter estimation to demonstrate how statistical models can be used to draw conclusions from observations and experimental data, and linear regression techniques within the statistical modelling framework will also be considered.

    Students will come to recognise the role, and limitations, of the linear model for understanding, exploring and making inferences concerning the relationships between variables and making predictions.


  • Core

  • Placement Year Work-Based Learning

    You will spend your third year working in a graduate-level placement role. This is an opportunity to gain experience in an industry or sector that you might be considering working in once you graduate.

    Our Careers and Placements Team will support you during your placement with online contact and learning resources.

    You will undertake a work-based learning module during your placement year which will enable you to reflect on the value of the placement experience and to consider what impact it has on your future career plans.


  • Core

  • Work Based Learning Reflection

    Students will reflect on their learning in a professional context. They will critically reflect on work based learning theory and practice and provide an in depth review of their own, and others', experiences.

    Consideration will be given to ethical issues arising on placement and identification and analysis of implications of informal and formal learning in the workplace.

    Finally, students will elaborate on their future career aims and areas for development.


  • Optional

  • Bayesian Inference

    Bayesian statistics provides a mechanism for making decisions in the presence of uncertainty. Using Bayes’ theorem, knowledge or rational beliefs are updated as fresh observations are collected. The purpose of the data collection exercise is expressed through a utility function, which is specific to the client or user. It defines what is to be gained or lost through taking particular actions in the current environment. Actions are continually made or not made depending on the expectation of this utility function at any point in time.

    Bayesians admit probability as the sole measure of uncertainty. Thus Bayesian reasoning is based on a firm axiomatic system. In addition, since most people have an intuitive notion about probability, Bayesian analysis is readily communicated.

  • Combinatorics

    Combinatorics is the core subject of discrete mathematics which refers to the study of mathematical structures that are discrete in nature rather than continuous (for example graphs, lattices, designs and codes). While combinatorics is a huge subject - with many important connections to other areas of modern mathematics - it is a very accessible one.

    In this module, students will be introduced to the fundamental topics of combinatorial enumeration (sophisticated counting methods), graph theory (graphs, networks and algorithms) and combinatorial design theory (Latin squares and block designs). They will also explore important practical applications of the results and methods.

  • Commutative Algebra

    Students’ knowledge of commutative rings as gained from their second year of study in Rings and Linear Algebra will be built upon, and an introduction to the fourth year Galois Theory module will be provided.

    They will be introduced to two new classes of integral domains called Euclidean domains, where they have a counterpart of the division algorithm, and unique factorisation domains, in which an analogue of the Fundamental Theorem of Arithmetic holds.

    How well-known concepts from the integers such as the highest common factor, the Euclidean algorithm, and factorisation of polynomials, carry over to this new setting, will also be explored.

  • Differential Equations

    Questions relating to linear ordinary differential equations will be considered during this module. Differential equations arise throughout the applications of mathematics, and consequently the study of them has always been recognised as a fundamental branch of the subject. The module aims to give a systematic introduction to the topic, striking a balance between methods for finding solutions of particular types of equations, and theoretical results about the nature of solutions.

    While explicit solutions can only be found for special types of equations, some of the ideas of real analysis allow us to answer questions about the existence and uniqueness of solutions to more general equations, as well as allowing us to study certain properties of these solutions.

  • Geometry of Curves and Surfaces

    The topic of smooth curves and surfaces in three-dimensional space is introduced. The various geometrical properties of these objects, such as length, area, torsion and curvature, will be explored and students will have the opportunity to discover the meaning of these quantities. They will then use a variety of examples to calculate these values, and will use those values to apply techniques from calculus and linear algebra.

    A number of well-known concepts will be encountered, such as length and area, and some new ideas will be introduced, including the curvature and torsion of a curve, and the first and second fundamental forms of a surface. Students will learn how to compute these quantities for a variety of examples, and in doing so will develop their geometric intuition and understanding.

  • Graph Theory

    The study of graphs - mathematical objects used to model pairwise relations between objects - is a cornerstone of discrete mathematics. As a result, students will develop an appreciation for a range of discrete mathematical techniques while undertaking this module.

    Throughout the module, students will also learn about structural notions, such as connectivity, and will explore trees, minor closed families of graphs, matrices related to graphs, the Tutte polynomial of small graphs, and planar graphs and analogues.

    While studying these areas, students will gain experience of following and constructing mathematical proofs, and correctly and coherently using mathematical notation.

  • Groups and Symmetry

    Students will develop the knowledge of groups that they gained in second year during the Groups and Rings module. ‘Direct products’, which are used to construct new groups, will be studied, while any finite group will be shown to ‘factor’ into ‘simple’ pieces.

    Situations will be considered in which a group ‘acts’ on a set by permuting its elements; this powerful idea is used to identify the symmetries of the Platonic solids, and to help study the structure of groups themselves.

    Finally, students will prove some interesting and important results, known as 'Sylow’s theorems', relating to subgroups of certain orders.

  • Hilbert Spaces

    Students will examine the notion of a norm, which introduces a generalised notion of ‘distance’ to the purely algebraic setting of vector spaces. They will learn several quite natural ways to do this, both for vectors of any dimension and for functions. Focus will then be on the more special notion of an inner product which generalises angles at the same time as distances.

    Once these concepts have been established, students will have the opportunity to study geometrical ideas like orthogonality, which can be seen to apply to much more general spaces than Euclidean spaces of three (or even n) dimensions, notably to infinite dimensional spaces of functions. For example, Hilbert space theory shows how Fourier series are really another case of expressing an element in terms of a basis, and how people can use orthogonality to find best approximations to a given function by functions of a prescribed type. Finally, students will look at some of the main results of linear algebra, which generalise very nicely to linear operators between Hilbert spaces.

  • Lebesgue Integration

    Introducing the Lebesgue integral for functions on the real line, this module features a classical approach to the construction of Lebesgue measure on the line and to the definition of the integral. The bounded convergence theorem is used to prove the monotone and dominated convergence theorems, and the results are illustrated in classical convergence problems including Fourier integrals.

    Among the range of topics addressed on this module, students will become familiar with Lebesgue's definition of the integral, and the integral of a step function. There will be an introduction to subsets of the real line, including open sets and countable sets. Students will measure of an open set, and will discover measurable sets and null sets. Additionally, the module will focus on integral functions, along with Lebesgue's integral of a bounded measurable function, his bounded convergence theorem and the integral of an unbounded function. Dominated convergence theorem; monotone convergence theorem.

    Other topics on the module will include applications of the convergence theorems and Wallis's product for P. Gaussian integral, along with some classical limit inversion results and the Fourier cosine integral. Students will develop an understanding of Dirichlet's comb function, Archimedes' axiom and Cantor's uncountability theorem, and will learn to prove the structure theorem for open sets. In addition, students will be able to prove covering lemmas for open sets, as well as understanding the statement of Heine—Bore theorem, as well as understanding the concept and proving basic properties of outer measure. As well as understanding inner measure. Finally, students will be expected to prove Lebesgue's theorem on countable additivity of measure.

  • Likelihood Inference

    Statistical inference is the theory of the extraction of information about the unknown parameters of an underlying probability distribution from observed data. Consequently, statistical inference underpins all practical statistical applications.

    This module reinforces the likelihood approach taken in second year Statistics for single parameter statistical models, and extends this to problems where the probability for the data depends on more than one unknown parameter.

    Students will also consider the issue of model choice: in situations where there are multiple models under consideration for the same data, how do we make a justified choice of which model is the 'best'?

    The approach taken in this course is just one approach to statistical inference: a contrasting approach is covered in the Bayesian Inference module.

  • Linear Systems

    The aim of this module is to provide third year students with more options of applicable topics which draw upon second year pure mathematics modules and provide opportunities for further study. The theory of linear systems is engineering mathematics.

    In the mid nineteenth century, the engineer Watt used a governor to control the amount of steam going into an engine, so that the input of steam reduced when the engine was going too quickly, and the input increased when the engine was going too slowly. Maxwell then developed a theory of controllers for various mechanical devices, and identified properties such as stability. The crucial idea of a controller is that the output can be fed back into the system to adjust the input.

    Many devices can be described by linear systems of differential and integral equations which can be reduced to a standard (A,B,C,D) model. These include electrical appliances, heating systems and economic processes. The module shows how to reduce certain linear systems of differential equations to systems of matrix equations and thus solve them. Linear algebra enables students to classify (A,B,C,D) models and describe their properties in terms of quantities which are relatively easy to compute.

    The module then describes feedback control for linear systems. The main result describes all the linear controllers that stabilise a (A,B,C,D) system.

  • Machine Learning

    Using the classical problem of data classification as a running example, this module covers mathematical representation and visualisation of multivariate data; dimensionality reduction; linear discrimiNAt analysis; and Support Vector Machines. While studying these theoretical aspects, students will also gain experience of applying them using R.

    An appreciation for multivariate statistical analysis will be developed during the module, as will an ability to represent and visualise high-dimensional data. Students will also gain the ability to evaluate larger statistical models, apply statistical computer packages to analyse large data sets, and extract and evaluate meaning from data.

  • Mathematical Education Placement

    This module is run as a partnership between the Department of Mathematics and Statistics, the University of Cumbria and the Students’ Union’s volunteering unit.

    Designed with employability in mind, this module is based on the Students’ Union’s Schools Partnership Scheme, which supports Lancaster students on 10-week placements in local primary and secondary schools.

    Students will have the opportunity to take part in classroom observation and assistance, the development of classroom resources, the provision of one-on-one or small group support and possibly even teaching sections of lessons to the class as a whole.

  • Mathematics for Stochastic FiNAce

    This module formally introduces students to the discipline of fiNAcial mathematics, providing them with an understanding of some of the maths that is used in the fiNAcial and business sectors.

    Students will begin to encounter fiNAcial terminology and will study both European and American option pricing. The module will cover these in relation to discrete and continuous fiNAcial models, which include binomial, finite market and Black-Scholes models.

    Students will also explore mathematical topics, some of which may be familiar, specifically in relation to fiNAce. These include:

  • Conditional expectation
  • Filtrations
  • Martingales
  • Stopping times
  • Brownian motion
  • Black-Scholes formula
  • Throughout the module, students will learn key fiNAcial maths skills, such as constructing binomial tree models; determining associated risk-neutral probability; performing calculations with the Black-Scholes formula; and proving various steps in the derivation of the Black-Scholes formula. They will also be able to describe basic concepts of investment strategy analysis, and perform price calculations for stocks with and without dividend payments.

    In addition, to these subject specific skills and knowledge, students will gain an appreciation for how mathematics can be used to model the real-world; improve their written and oral communication skills; and develop their critical thinking.

  • Medical Statistics: study design and data analysis

    The aim is to introduce students to the study designs and statistical methods commonly used in health investigations, such as measuring disease, causality and confounding.

    Students will develop a firm understanding of the key analytical methods and procedures used in studies of disease aetiology, appreciate the effect of censoring in the statistical analyses, and use appropriate statistical techniques for time to event data.

    They will look at both observational and experimental designs and consider various health outcomes, studying a number of published articles to gain an understanding of the problems they are investigating as well as the mathematical and statistical concepts underpinning inference.

  • Metric Spaces

    An introduction to the key concepts and methods of metric space theory, a core topic for pure mathematics and its applications, is given during this module. Studying this module will give students a deeper understanding of continuity as well as a basic grounding in abstract topology. With this grounding, they will be able to solve problems involving topological ideas, such as continuity and compactness.

    They will also gain a firm foundation for further study of many topics including geometry, Lie groups and Hilbert space, and learn to apply their knowledge to areas including probability theory, differential equations, mathematical quantum theory and the theory of fractals.

  • Number Theory

    Number theory is the study of the fascinating properties of the natural number system.

    Many numbers are special in some sense, eg. primes or squares. Which numbers can be expressed as the sum of two squares? What is special about the number 561? Are there short cuts to factorizing large numbers or determining whether they are prime (this is important in cryptography)? The number of divisors of an integer fluctuates wildly, but is there a good estimation of the ‘average’ number of divisors in some sense?

    Questions like these are easy to ask, and to describe to the non-specialist, but vary hugely in the amount of work needed to answer them. An extreme example is Fermat’s last theorem, which is very simple to state, but was proved by Taylor and Wiles 300 years after it was first stated. To answer questions about the natural numbers, we sometimes use rational, real and complex numbers, as well as any ideas from algebra and analysis that help, including groups, integration, infinite series and even infinite products.

    This module introduces some of the central ideas and problems of the subject, and some of the methods used to solve them, while constantly illustrating the results with exercises and examples involving actual numbers.

  • Probability Theory

    This module is ideal for students who want to develop an analytical and axiomatic approach to the theory of probabilities.

    First the notion of a probability space will be examined through simple examples featuring both discrete and continuous sample spaces. Random variables and the expectation will be used to develop a probability calculus, which can be applied to achieve laws of large numbers for sums of independent random variables.

    Students will also use the characteristic function to study the distributions of sums of independent variables, which have applications to random walks and to statistical physics.

  • Statistical Models

    The concept of generalised linear models (GLMs), which have a range of applications in the biomedical, natural and social sciences, and can be used to relate a response variable to one or more explanatory variables, will be explored. The response variable may be classified as quantitative (continuous or discrete, i.e. countable) or categorical (two categories, i.e. binary, or more than categories, i.e. ordinal or nominal).

    Students will come to understand the effect of censoring in the statistical analyses and will use appropriate statistical techniques for lifetime data. They will also become familiar with the programme R, which they will have the opportunity to use in weekly workshops.

  • Stochastic Processes

    Important examples of stochastic processes, and how these processes can be analysed, will be the focus of this module.

    As an introduction to stochastic processes, students will look at the random walk process. Historically this is an important process, and was initially motivated as a model for how the wealth of a gambler varies over time (initial analyses focused on whether there are betting strategies for a gambler that would ensure they won).

    The focus will then be on the most important class of stochastic processes, Markov processes (of which the random walk is a simple example). Students will discover how to analyse Markov processes, and how they are used to model queues and populations.

  • Time series analysis

    Modern statistics is characterised by computer-intensive methods for data analysis and development of new theory for their justification. In this module students will become familiar with topics from classical statistics as well as some from emerging areas.

    Time series data will be explored through a wide variety of sequences of observations arising in environmental, economic, engineering and scientific contexts. Time series and volatility modelling will also be studied, and the techniques for the analysis of such data will be discussed, with emphasis on fiNAcial application.

    Another area the module will focus on is some of the techniques developed for the analysis of multivariates, such as principal components analysis and cluster analysis.

    Lastly,students will spend time looking at Change-Point Methods, which include traditional as well as some recently developed techniques for the detection of change in trend and variance.

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