Continuing Professional Development
“An excellent provider of CPD courses”
CPD at the University of York aims to meet the development needs of professionals by
transferring the innovation, intellectual wealth and knowledge held by the University’s
academic and research centres into the work environment.
By facilitating this knowledge transfer it enables individuals and their respective
organisations to develop a competitive advantage and stay at the leading edge
of their particular sectors.
CPD courses are available to professionals based locally, nationally and internationally,
in both the public and private sectors, and are available both by attendance at the
University and via distance learning.
They are designed to be flexible and accessible, with non-accredited short courses
as well as part-time Masters degrees, certificates and diplomas.
The University also works closely with many individual organisations to develop high
quality, bespoke courses and training materials to carefully match their specific needs.
MSc, Diploma and Certificate
in Mathematical Finance
Online Distance Learning Programmes
For further information contact:
Large print versions
of this text are available
from the CPD Manager
Photos © University of York
Continuing Professional
Development Manager
Research and Enterprise Office
University of York
Innovation Centre
York Science Park
York
YO10 5DG
United Kingdom
Tel: +44 (0)1904 435102
Fax: +44 (0)1904 435101
Email: as51@york.ac.uk
www.york.ac.uk/cpd
developing your competitive advantage
“Thank you very much for everything as I have realised that you provided
me with a qualification and knowledge that is in great demand in the
financial market. I could never have thought that one year later I would
have the choice between a challenging job in the City with fast progress
and an opportunity for a PhD at a leading university in London.”
– 2006/07 MSc Math Finance Graduate
MSc, Diploma and Certificate in Mathematical Finance
Supervision and Support
Online Distance Learning Programmes
Advice and study support is delivered by
personal tutors via one-to-one online tutorials
and by module leaders through the web-based
Virtual Learning Environment. Pastoral support
is the responsibility of personal supervisors,
normally assigned to students for the duration
of the entire programme. The departmental
Computer Officer is on hand to help with
computer-related issues. Online distance learners
have email and internet telephony access to all
relevant staff members in the Department.
Introduction
This postgraduate taught Masters programme by online distance learning runs alongside
the campus-based MSc in Mathematical Finance. It is divided into three stages: Certificate,
Diploma and Dissertation. Successful participants who complete all three stages are
awarded an MSc degree. It is also possible to register for the Certificate stage or both
the Certificate and Diploma stages only, leading to the award of a Postgraduate Certificate
or Postgraduate Diploma. Students who wish to follow selected individual modules are
also welcome.
The online programme is designed to meet the needs of participants who wish to pursue
a rigorous course of study in mathematical and quantitative finance without disrupting their
professional or personal commitments.
A variety of distance learning tools and approaches are deployed:
• Interactive presentations on CDs or DVDs in lieu of lectures.
• Synchronous one-to-one tutorials via internet conferencing with audio, video
and handwriting capabilities (using a tablet attachment or tablet computer).
• Web-based Virtual Learning Environment (VLE).
• Asynchronous discussion forums.
• Printed and electronic lecture notes and workbooks with solutions.
• Support via email, internet telephony and internet conferencing.
Aims and Objectives
Programme Structure
Induction Period
• Induction Module (no credit bearing)
Certificate Stage
The programme delivers rigorous training in mathematical and computational techniques,
including stochastic analysis, partial differential equations, numerical and statistical
methods, at a level relevant to practitioners in modern quantitative finance industry.
Students completing the programme are expected to be able to absorb current research
literature, and to develop competence in applying knowledge and technical skills in typical
situations arising in practical contexts. This is particularly in relation to developing and
implementing methods for quantifying and managing investment and credit risk, portfolio
management, term structure models, pricing and hedging of derivative securities, and
using various kinds of such securities to manage risk exposure.
• Mathematical Methods of Finance
(20-credit module)
Timing
• Discrete Time Modelling and Derivative
Securities (20-credit module)
The online MSc programme has two four-month teaching periods in each academic year:
October to January and March to June.
• Portfolio Theory and Risk Management
(20-credit module)
Each of the three stages of the programme, Certificate, Diploma and Dissertation, can be
completed either as fast stream within a single four-month teaching period or as standard
stream over two consecutive four-month teaching periods. Transfers between the fast and
standard streams are possible between the stages.
Diploma Stage
• Stochastic Calculus and Black-Scholes
Theory (20-credit module)
• Numerical and Computing Techniques
in Finance (20-credit module)
• Modelling of Bonds, Term Structure, and
Interest Rate Derivatives (20-credit module)
Similarly, participants who wish to follow selected individual modules only can choose
to do so over a single four-month teaching period by joining the fast stream, or two
consecutive four-month teaching periods by following the standard stream.
There are two intakes in each year, in September and February. All new participants
begin with a two-week induction period in the second half of September or February.
For detailed module specifications please
refer to: http://maths.york.ac.uk/www/
OnlineMScMFProgStruct
Assessment
• Four assignments in each online taught
module submitted within the Virtual
Learning Environment.
• Written dissertation refereed and marked
by an internal and an external examiner.
• Recorded online vivas at the end of the
Certificate, Diploma and Dissertation stages.
What are the Advantages?
• A unique online distance learning Masters
course in Mathematical Finance, building
on the strength of the campus-based MSc
programme at the University of York.
• Flexibility and pacing allow students
to combine personal and professional
commitments with a structured programme
of study.
• Programme is delivered entirely via the
internet, no presence on campus necessary
at any stage.
• One-to-one tutorials provide personalised
support to distance learners.
• Interactive CD/DVD presentations allow
students to follow lectures when and where
they want to, not to a classroom-based
timetable.
• Web-based Virtual Learning Environment and
discussion forums enable group interaction
and promote the exchange of ideas and
experiences.
• Rigorous grounding in the mathematics of
quantitative finance provides a foundation
from which to follow modern developments.
Dissertation Stage
• Mathematical Finance Dissertation
(60-credit module)
The University Library offers a dedicated
service for distance learners. For more
information see http://www.york.ac.uk/
services/library/services/distance.htm
The University of York is one of the UK’s most
successful universities, consistently ranked in
the top ten for research and teaching quality.
• Skills and knowledge highly relevant to
practitioners in modern quantitative finance,
sought after by employers.
• Teaching and supervision by experienced
academics in the field – over 10 years of
experience in delivery of mathematical
finance programmes.
Online Teaching and Learning Tools
Screenshots from interactive presentations
on CD’s/DVD’s in lieu of lectures:
• High success rate for students on the MSc
in Mathematical Finance and excellent
career prospects.
Eligibility
Certificate, Diploma and MSc candidates
normally need an upper-second class or
first class undergraduate degree or equivalent
in a mathematically-based discipline such as
Mathematics or Statistics, Physics, Chemistry,
Computer Science or Engineering, but
candidates with sufficiently good mathematical
background from other areas such as Biology,
Economics or Finance will also be considered.
We also welcome applications from candidates
with postgraduate degrees either in a
mathematical subject or in a finance or
economics-related subject combined with
a good mathematical background.
Each applicant is assessed individually to
ensure that his/her mathematical background
is appropriate. We are looking for the equivalent
of at least two years (four semesters or six
trimesters) of university-level courses in
mathematics, including calculus, linear algebra,
probability and statistics, with excellent marks.
Computer programming skills are helpful but not
a necessary prerequisite. Professional experience
is taken into account when assessing applications.
One-to-one online tutorial using live session
notebook sharing:
A view from the web-based Virtual Learning
Environment:
The programme is open to people from any
country. Candidates whose first language is
not English need to achieve IELTS score 6.5
with at least 6.0 in each component, or TOEFL
575 (paper-based), 232 (computer-based) or
91 (internet-based), or Cambridge Proficiency
in English grade A, B or C, or Cambridge
Certificate of Advanced English grade A.
Further Details
For the current tuition fees, please refer to:
http://maths.york.ac.uk/www/OnlineMScMFTuitionFees
To apply please follow the instructions at:
http://maths.york.ac.uk/www/OnlineMScMFEnqAppl
More information can be found at:
http://maths.york.ac.uk/www/OnlineMScMathFin
Contacts
Graduate Secretary, Department of Mathematics, University of York, Heslington, York YO10 5DD,
United Kingdom
Tel: +44 (0) 1904 433070, Fax: +44 (0) 1904 43307, E-mail: maths-graduate-admissions@york.ac.uk
Professor Tomasz Zastawniak, Director of Mathematical Finance Programmes,
E-mail: tz506@york.ac.uk