Program Overview

Program Overview

The MSc Applied Statistics in Finance is a part-time online program designed for those with a background in a broad range of disciplines. The program aims to equip students with skills in problem-solving, data analysis, and the use of statistical software packages.

Key Facts

• Start date: September or January
• Accreditation: Royal Statistical Society: MSc graduates may qualify for GradStat status
• Study mode and duration: online over 2 or 3 years, part-time. Standalone modules can also be taken for CPD purposes or working towards an MSc over a maximum of 5 years.

Study with Us

The program is a conversion course, designed for those with a background in a broad range of disciplines. Students will gain skills in:

• problem-solving
• analysis and manipulation of complex data
• use of statistical software packages
• interpretation and reporting of results from data analyses
• working as an applied statistician in sectors such as insurance, finance, and commerce

Course Content

• Compulsory classes:
  • Foundations of Probability & Statistics (20 credits)
  • Data Analytics in R (20 credits)
  • Statistical Modelling & Analysis (20 credits)
  • Financial Econometrics (10 credits)
  • Financial Stochastic Processes (10 credits)
• Elective classes:
  • List A:
    • Quantitative Risk Analysis (10 credits)
    • Bayesian Spatial Statistics (10 credits)
  • List B:
    • Survey Design & Analysis (10 credits)
    • Effective Statistical Consultancy (10 credits)
    • Medical Statistics (20 credits)
    • Data dashboards with RShiny (10 credits)
    • Big Data Tools & Techniques (10 credits)
    • Big Data Fundamentals (10 credits)
    • Machine Learning for Data Analytics (20 credits)
• Research project: 60 credits

Learning and Teaching

Classes are delivered using the MyPlace online teaching environment hosted by the University of Strathclyde. Students will learn through:

• video lectures
• interactive sessions
• independent reading of articles and texts
• discussion forums

Assessment

• All assessment will be undertaken online
• The assessment will take the form of large-scale projects where students will be asked to demonstrate their knowledge on a real-world data set
• Projects will involve writing code, interpreting statistical outputs, and producing a report or presentation outlining the findings from the analysis
• Group work may be undertaken in some classes

Entry Requirements

• Academic requirements/experience:
  • Minimum second-class (2:2) Honours degree or overseas equivalent
  • Mathematical training to A Level or equivalent standard
  • Prospective students with relevant experience or appropriate professional qualifications are also welcome to apply
• Mathematical knowledge: Applicants are required to have some prior mathematical knowledge, for example A Level or equivalent in:
  • calculus
  • linear algebra
  • differential equations
• English language requirements: You must have an English language minimum score of IELTS 6.0 (with no component below 5.5)

Fees and Funding

• Tuition fees: £5,600 (3-year program, price per year), £8,400 (2-year program, price per year)
• Scholarships: Scholarships of £1,800 are available to new students joining for January entry of one of the online programs in the 2025/26 academic year

Careers

The online MSc in Applied Statistics in Finance will provide graduates with skills in the statistical analysis of data from a wide range of disciplines. These skills are required by many employers in sectors such as:

• investment companies
• financial institutions
• pharmaceutical industry
• medical research
• government organizations
• retailers
• internet information providers
• Graduate roles:
  • statistician
  • data analyst
  • software developer or engineer
  • statistical programmer
  • data scientist
  • decision scientist

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-UK/Ireland) who do not meet the academic entry requirements for a Masters degree at the University of Strathclyde. Upon successful completion, students will be able to progress to this degree course at the University of Strathclyde.