Program start date | Application deadline |
2023-09-18 | - |
Program Overview
Why this course?
The
MSc in Quantitative Finance
has been developed to address the demand for market-aware graduates who can demonstrate an understanding of mathematical models used in financial tools, products and software.The course is an innovative cross-faculty alliance between Strathclyde Business School and the Faculty of Science. It's been designed for those with a strong aptitude for mathematics, statistics and computing who haven't studied these topics in detail in their undergraduate degree. The course allows students with different degree backgrounds to learn the necessary skills to move into the financial industry.
The programme will prepare you for a career in financial engineering and risk management leading to roles as a hedge fund manager or financial analyst.
What you’ll study
The curriculum provides a balance between finance and mathematical theory, computer implementations of this theory, and practical skills and knowledge.
Core classes in Semester 1 address themes such as principles of finance and quantitative methods for finance, as well as foundation classes in mathematics, statistics and computing science. In Semester 2, you choose three optional classes.
On the programme you'll gain:
Work placement
You may be able to undertake an industrial-based MSc project between June and September. The placement can be based in the UK or in another country and are typically paid internships.
Undertaking an industrial MSc project was the highlight of my postgraduate course. It provided a great opportunity to apply the technical skills I learned in my first 2 semesters into solving real-world problems. Furthermore, not only did it provide an internationally renowned company on my CV, I was also offered a full-time position which I will begin after the project's completion. Overall, I would suggest this scheme to any future students of the course.
MSc Quantitative Finance Student
The industrial project really helped me with developing new skills and gave me exposure to knowledge and topics which are very relevant in the industry currently. Overall, this experience has been beneficial and contributed to preparing me for the job market.
MSc Quantitative Finance student
Glasgow is Scotland's biggest & most cosmopolitan city
Our campus is based right in the very heart of Glasgow. We're in the city centre, next to the Merchant City, both of which are great locations for sightseeing, shopping and socialising alongside your studies.
Life in Glasgow
Learning & teaching
Teaching is student-focused – we encourage you to take responsibility for your own learning and development. Classes are supported by web-based materials. We ensure class sizes allow for good contact between students and teaching staff.
Classes are delivered by a number of teaching methods:
Assessment
The form of assessment varies from class to class and normally involves both coursework and examinations.
Facilities
The Department of Mathematics & Statistics has teaching rooms which provide you with access to modern teaching equipment and access to University computing laboratories with all necessary software available.
You'll also have access to a common room which can be used for individual and group study work and is also a relaxing social space.
Students appreciate the fact that the cohort is small enough so that each of them receive a good service from our staff. They're also very happy with the facilities provided by the University.
Mohammud FoondunLecturer, Quantitative Finance Find out why Mohammud loves teaching Quantitative Finance
Program Outline
Course content
Semester 1
Semester 2
Semester 3
Compulsory classes
Foundations of Mathematical & Statistical Finance
The educational intention of this class is to bring all of the students up to the same level of mathematical and statistical training so that they can then undertake the financial theory classes in semester 2.
Principles of Finance
This class will provide an introduction to financial decision-making, and much of the relevant analysis will be developed from the standpoint of corporate finance. It'll explain how a company should decide on the investments to be undertaken to meet its objectives, generally assumed to be the maximisation of its value. It will be demonstrated that this will require a rate of return on its investments in excess of the return available in the capital market on equally risky financial investments. As a result, it will be necessary to develop an understanding of the capital market risk-return relationship. This will require an appreciation of the nature of risk and how this can be managed by the development of portfolios.
Even though the focus of the class will be on corporate finance, it'll also require an appreciation of how the risk-return tradeoff is determined in the capital market.
Find out more in the class outline for Principles of Finance.
International Financial Markets & Banking
The aim of the class is to provide you with an understanding of the financial system and the roles and functions of financial markets and institutions. A particular emphasis is placed on understanding the roles of intermediaries such as banks and investment firms.
You'll develop an understanding of the various characteristics and roles of fixed income, equity, and foreign exchange markets. While some attention will be given to the UK financial markets, the global nature of financial markets will be widely discussed. This class aims to equip you with an awareness and understanding of financial markets and institutions in the context of the global economy. Particular emphasis will be placed on the role and contribution of the banking sector.
This class covers the reasons for, and nature of, of financial markets and institutions with a particular focus on banking, the global nature of these markets and their regulation.
Find out more in the course outline for International Financial Markets & Banking.
Big Data Technologies (20 credits)
In this module you will learn to:
Elective classes
You're required to take 60 credits of optional classes from those listed below – 20 credits from each list.
List A
Behavioural Finance
The aim of the class is to provide you with an understanding of the main ideas of behavioural finance. A particular emphasis is placed on understanding the roles of non-rational actions and the development of new financial models that incorporate these ideas.
You'll engage with up to date research and develop a critical view of existing and new finance theories and models. It aims to introduce you to the rapidly evolving area of behavioural finance. You'll develop an understanding of behavioural finance and an appreciation of its possible implications and applications.
This class introduces you to behavioural finance and provides you with an understanding of the main flaws of 'traditional' finance theory from a behavioural finance viewpoint. It will allow you to develop the ability to discuss issues arising from violations of the rationality assumption and will enable you to evaluate new theoretical models based on research in psychology.
The course will allow you to appreciate the role of new developments in finance and their possible implications for established views of the functioning of financial markets.
Find out more in the class outline for Behavioural Finance.
Security Analysis
The aim of this class is to develop an appreciation of the investment characteristics of different types of securities, particularly bonds and shares, and to develop an understanding of how such securities are valued. This class will build on the analysis developed in the first semester class, Principles of Finance. It will consider the determination of interest rates, the valuation of bonds, the management of bond portfolios, and the valuation of equities.
Find out more in the class outline for Security Analysis.
Portfolio Theory & Management
The aim of this class is to examine the Markowitz (1952) approach to optimal portfolio selection. The class explores issues relating to optimal portfolio choice and issues in passive and active fund management through the lens of the nature of variance, covariance, risk and return. The class introduces practical applications and an extension of basic theory.
Find out more in the class outline for Portfolio Theory & Management.
Derivatives & Treasury Management
The aim of this class are to provide a strong grounding in derivatives that may be used to manage the financial risks faced by individuals, financial institutions and business corporations. It places an emphasis on corporate treasury management and the role of derivatives in managing treasury risk.
Find out more in the class outline for Derivatives & Treasury Management.
List B
Database & Web Systems Development
This module aims to provide conceptual and practical understanding of data modelling, database design and database technology. It also aims to give practical experience of developing web-based applications that integrate database server interaction.
Machine Learning for Data Analytics
The aim of this class is to equip students with a sound understanding of the principles of machine learning and a range of popular approaches, along with the knowledge of how and when to apply the techniques. On completion of this class students will:
Evolutionary Computation for Finance
This module will help you to understand (a) nature of evolutionary computing (b) suitability of evolutionary computing for financial applications. It will provide practical experience in developing and operating evolutionary computing approaches for financial applications.
List C
Financial Stochastic Processes (10 credits)
This module aims to expose you to a number of diverse topics in stochastic processes that can be used to model real systems, with an emphasis on the valuation of financial derivatives. In additional to theoretical analysis, appropriate computational algorithms using R are introduced.
Topics covered will include:
Financial Econometrics (10 credits)
You'll be exposed to a number of diverse topics in econometrics that can be used to model real financial data, with an emphasis on the analysis of financial time series. The statistical software R is introduced for financial modelling.
Topics covered will include:
Networks in Finance
This module will introduce you to a number of diverse topics in game theory and its applications to financial problems as well as giving a sound background on network theory at both theoretical and applied level.
Compulsory module for students enrolled on the MSc.
Research Project
You'll undertake a research project.Optional
The course has exactly what I was looking for, equipping myself with knowledge in finance, math, computer sciences as well as a quantitative set of skills to become a future quant.
Tran Ha Dung More about Tran's Strathlife
Careers
We work closely with the University's Careers Service, which offers advice and guidance on career planning, and looking for and applying for jobs. In addition, they administer and publicise graduate and work experience opportunities.
Our graduates
Our graduates have gone on to find careers with companies such as Deloitte, PWC, Bank of Ireland and BlackRock, among others.
Job titles include:
Entry level salaries for potential graduate roles
The table below shows average entry level salaries for potential graduate roles. Salaries shown are based on permanent roles and taken from analysis in the
Harnham annual UK Data and Analytics salary guide for 2018
(download required).
Role | London | Outside London |
---|---|---|
Big Data Engineering | £41K | £32K |
Business Intelligence | £34K | £27K |
Insight Analyst | £38K | £31K |
Pricing Analyst | £38K | £33K |
Decision Science | £37K | £32K |
Professional network of graduates
We encourage Quantitative Finance students to join our closed group on LinkedIn. Graduates who are part of this group are able to take advantage of a read-made a professional network. We post jobs on the page, encourage interactions within the group and keep them up-to-date with relevant industry news.
This is a fantastic platform for someone starting out in the finance industry, with advice and networking opportunities from like-minded, established professionals at their fingertips. It's also a great way for you to keep in contact with others from your course.
Overview:
- Founded in 1796 as Anderson's Institution
- Received its Royal Charter in 1964, becoming the University of Strathclyde
- Consistently ranked among the top 10 universities in the UK for engineering and technology
- Home to the Advanced Forming Research Centre (AFRC), a world-leading research center in metal forming
- Notable alumni include Sir James Black (Nobel Prize in Physiology or Medicine), Sir David Murray (former CEO of Rangers Football Club), and Dame Jocelyn Bell Burnell (astrophysicist)
Student Life:
- Over 23,000 students from over 100 countries
- 150+ student clubs and societies, including sports teams, cultural groups, and academic societies
- Student support services include counseling, health, and disability support
- Campus facilities include a sports center, library, and student union
Academics:
- Offers a wide range of undergraduate and postgraduate programs in engineering, science, business, law, and social sciences
- Faculty includes world-renowned experts in their fields
- Teaching methodologies emphasize hands-on learning and industry engagement
- Academic support services include tutoring, writing centers, and language support
- Unique academic programs include the Strathclyde MBA, which is ranked among the top 100 MBAs in the world
Top Reasons to Study Here:
- Excellent reputation for teaching and research, particularly in engineering and technology
- Strong industry connections and opportunities for internships and placements
- Specialized facilities such as the AFRC and the Strathclyde Institute of Pharmacy and Biomedical Sciences
- Vibrant student life with a diverse and inclusive community
- Located in the heart of Glasgow, a vibrant and cosmopolitan city
Services:
- Counseling and mental health support
- Health center with a range of medical services
- Accommodation services with a variety of on-campus and off-campus options
- Library resources with over 1 million books and journals
- Technology support including IT services and free Wi-Fi
- Career development services with support for job searching, CV writing, and interview preparation
Entry requirements
Academic requirements / experience |
Minimum second-class Honours degree or international equivalent in:
Mathematics/statistics graduates should contact the course director to discuss their application. Prospective students with relevant experience or appropriate professional qualifications are also welcome to apply. For Australia and Canada, normal degrees in relevant disciplines are accepted. |
---|---|
Mathematical knowledge |
This MSc requires some prior mathematical knowledge for example:
If possible, please provide evidence of this in your application (eg transcript, certificate, etc) Any queries, please email us: science-masters @strath.ac.uk |
English language requirements |
You must have an English language minimum score of IELTS 6.0 (with no component below 5.5). We offer comprehensive English language courses for students whose IELTS scores are below 6.0. Please see ELTD for full details. As a university, we now accept many more English language tests in addition to IELTS for overseas applicants, for example, TOEFL and PTE Cambridge. View the full list of accepted English language tests here. |
Pre-Masters preparation course
The Pre-Masters Programme is a preparation course held at the University of Strathclyde International Study Centre, for international students (non EU/UK) who do not meet the academic entry requirements for a Masters degree at University of Strathclyde. The Pre-Masters programme provides progression to a number of degree options.
Upon successful completion, you'll be able to progress to this degree course at the University of Strathclyde.
International students
We've a thriving international community with students coming here to study from over 100 countries across the world. Find out all you need to know about studying in Glasgow at Strathclyde and hear from students about their experiences.
Visit our international students' section