The Financial Statistics stream of the MSc Statistics programme is mainly intended for students wishing to pursue careers in the finance industry or as a stepping stone towards PhD study in statistics for finance.
It provides high-level training in statistics with applications in finance and econometrics. You will learn to analyse and critically interpret data, build statistical models of real situations, and use statistical software packages.
The compulsory courses consolidate your understanding of fundamental ideas in probability and statistics and introduce advanced topics. You can choose options to focus on statistics with applications in social science or in finance and econometrics.
Graduates of the programme are awarded Graduate Statistician (GradStat) status by the Royal Statistical Society if a specific combination of modules is taken.
The research stream is similar to the nine-month programme but involves a compulsory dissertation which replaces one unit's worth of optional courses and extends the length of the programme to 12 months.
The programme provides excellent opportunities for employment and further study. The programme is also conditionally accredited by the Royal Statistical Society. This means that although an accreditation is given, it will only lead to the award of ‘Graduate Statistician’ if you take a specific combination of modules.
Looking for high-quality training in statistics for research or for professional life? If so, consider KU Leuven's MSc in Statistics, an interdisciplinary programme whose teaching is grounded in internationally-recognised research. Choose from a number of approaches: biometrics, social behavioural and educational statistics, business statistics, industrial statistics, general statistical methodology, or an all-round statistics profile.
This master’s programme is offered by the Leuven Statistics Research Centre (LStat) of KU Leuven. It is accredited by the Royal Statistical Society. You’ll be trained intensively in both the theoretical and practical aspects of statistics. The programme will also help you develop a problem-solving attitude and teach you how to apply statistical methodology.
This is an initial Master's programme and can be followed on a full-time or part-time basis.
The 120-ECTS programme consists of a common core curriculum (one semester), option-specific courses (one semester), elective courses (one semester), and a master’s thesis.
To tailor the programme to your needs and interests, you choose one of the following options:
LStat hosts international experts and is a stimulating environment for multidisciplinary statistical research. LStat is a privileged meeting space for statistics researchers from a range of domains:
The master of Statistics:
KNOWLEDGE AND INSIGHT
APPLYING KNOWLEDGE AND INSIGHT
DEVELOPING AN OPINION
DEPENDING ON THE CHOSEN OPTION, THE STUDENT MASTERS FOLLOWING ADDITIONAL LEARNING OUTCOMES:
As statistician, you'll be recruited by industry, banks or government institutions. You may find yourself designing clinical trials and supporting the biomedical sector, coaching research for new medicines, setting up and analysing psychological tests and surveys, performing financial risk analyses, statistically managing R&D projects and quality controls, or developing statistical software. And don't forget the academic world. The applications of statistics are very diverse, just like your professional options.
The Probability and Statistics group (4 Professors, 3 Senior Lecturers and 10 Lecturers) in the School of Mathematics have a long-standing reputation and experience of offering one year, high quality taught courses in areas of Statistics leading to the degree of MSc.These courses have aimed to offer a thorough professional training which prepare students to embark on statistical careers in a variety of areas. (There is a shortage of statisticians trained to postgraduate level in the UK and the employment prospects for such people remain good.) They have also provided a very good foundation for further study at PhD level.
Our current MSc programme in Statistics allows students to take one of two different MSc degrees, depending on their interests and career aspirations. There is the main programme in Statistics and one associated pathway in Financial Statistics. Each is built around a common core of five modules and then students study an additional set of three specialist modules to make a total of eight in all.
There are two teaching semesters of 12 weeks each and approximately 15 weeks of project work. Assessment for the taught part is by exams and coursework. Following the successful completion of the taught part of the programme (worth a total of 120 credits) students are then expected to work on a dissertation from June to September which is worth a further 60 credits, making 180 credits in total. Information on the various topics and projects which will be available for dissertation are provided to the students in May from which they are invited to state their preferences.
The taught part of the programme is divided into two 12-week semesters, each followed by a two-week period of examinations. This in turn is followed by a period of approximately 12 weeks of research work over the summer which is supervised by a member of the academic staff and ends with submission of the MSc dissertation in September. In the taught part of the course, full-time students attend weekly lectures and support classes for four modules (4 x 15 credits) in each semester. Students are also able to enrol on a part-time basis if they wish. In this case they study over a two year period and only take two modules per semester, with the dissertation being completed at the end of the second year. Details of the programme structure are given below.
Main MSc Statistics
This degree is accredited by the Royal Statistical Society.
Financial Statistics Pathway
This comprises a core of five modules which are common to the main programme, plus three specialist modules in financial statistics.
This degree is also accredited by the Royal Statistical Society.
Accreditation by the Royal Statistical Society (RSS) provides reassurance that our MSc programme produces graduates with the technical skills and subject knowledge required of a statistician. This provides our graduates with a competitive edge in the job market and provides employers with an assurance of quality of our degree.
Dissertation Following the successful completion of the taught part of the programme (worth a total of 120 credits) students are then expected to work on a dissertation from June to September which is worth a further 60 credits, making 180 credits in total. Information on the various topics and projects which will be available for dissertation are provided to the students in May from which they are invited to state their preferences.
The School of Mathematics is the largest in the UK with an outstanding research reputation andfacilities .
Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service. Email: [email protected]
These programmes will prepare students for a broad range of statistical careers, particularly in the financial, medical, pharmaceutical and industrial sectors of the economy, but also with local and national government agencies, as well as in other areas. They will also provide an excellent foundation for students wishing to pursue advanced postgraduate research in statistics.
This programme is now closed but you may want to consider other courses such as the Mathematics MSc.
The Financial Mathematics MSc programme enables graduates and professionals with a strong mathematical background to research, develop and apply quantitative and computational techniques to investment and risk management. Based in the Department of Mathematics, this course has a superb reputation for research-led teaching and strong links to industry.
Financial Mathematics studies problems of optimal investment and risk management, and this course covers a diverse range of topics, from classical options pricing to post-crisis investment and risk management
Like any branch of applied mathematics, financial mathematics analyses a given problem by first building a mathematical model for it and then examining the model. Both steps require detailed knowledge in different areas of mathematics, including probability, statistics, optimisation, computer science and many more traditional fields of mathematics.
Our Financial Mathematics MSc course is a unique study pathway that encompasses the essential skills required for successful risk management, trading and research in quantitative finance: probability, statistics, optimisation, computing and financial markets. You will explore probability theories, risk neutral valuation, stochastic analysis as well as interest rate and credit risk modules. We also offer you the opportunity to study an additional zero-credit supportive module called mathematical analysis for financial mathematics.
The Financial Mathematics MSc programme offers you the choice to study either full or part-time and is made up of optional and required modules. You must take modules totalling 180 credits to complete the course. If you are studying full-time, you will complete the course in one year, from September to September. If you are studying part-time, your programme will take two years to complete, you will study the required modules in the first year, and a further selection of required and optional modules including the 60-credit financial mathematics report module in your second year.
Bloomberg terminal laboratory
King’s is one of only a few academic departments in the UK that offers full access to Bloomberg terminals. These terminals will provide you access to live financial data. They are heavily used within the financial industry, and the data they provide is critical in assisting traders in making investment decisions and for risk managers monitoring investment probabilities. We have 13 Bloomberg terminals available for exclusive use by the Financial Mathematics MSc programme.
You will use the Bloomberg terminals to:
The skills you will learn from using the terminals are highly valued by employers. King’s is part of a strong network of financial mathematics in London with connections both in academia and in the industry.
We are also members of the University of London and by arrangement, you can enrol in optional modules at other institutions within the University of London, which includes Birkbeck, London School of Economics and Political Sciences, University College London and many others.
This programme is suitable for students or professionals with a strong mathematical background. It covers the principles and techniques of quantitative finance to prepare students for advanced work in the financial sector or research in mathematical finance.
We use lectures, seminars and group tutorials to deliver most of the modules on the programme. You will also be expected to undertake a significant amount of independent study.
Average per week: Three hours for 11 weeks per each 15 credit module.
You are expected to spend approximately 10 hours of effort for each credit (so for a typical module of 15 credits this means 150 hours of effort).
The primary method of assessment for this course is a combination of written examinations, essays, coursework and individual or group projects and oral presentations.
Our graduates are highly sought after by investment banks, corporate risk management units, insurance companies, fund management institutions, financial regulatory bodies, brokerage firms, and trading companies. Recent employers of our graduates include, Capital Investment, Credit Suisse, European Bank for Reconstruction & Development, Fitch Ratings, HSBC and Morgan & Stanley. Some graduates have pursued research degrees in financial mathematics.
The Master of Financial and Actuarial Engineering programme provides students with up-to-date, sound and advanced financial, actuarial and statistical skills. It is an intensive, advanced, one-year programme for university graduates interested in a career in risk management, financial and/or actuarial engineering within financial institutions. The discipline focuses on the application of quantitative methods to problems involving risk or uncertainty. You will gain an understanding of current and future problems and solutions in insurance and banking and be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques.
The programme provides advanced insights into the actuarial aspects of life insurance, general insurance and risk theory as well as financial mathematics and the inter-relationship and integration of actuarial sciences and finance. The programme draws on over sixty years of experience and international recognition. The research team for risk theory, finance and statistics has a strong research profile and is ranked among the world top in terms of actuarial research productivity. The programme is jointly offered by the Faculty of Business and Economics and the Faculty of Science at KU Leuven, in collaboration with Université Catholique de Louvain.
The main goal of the programme is to provide the students with an sound knowledge of finance and actuarial science. They develop the capabilities to understand current and future problems and solutions in the actuarial and financial context. They will be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques. Graduates holding both the degree of Master of Financial and Actuarial Engineering and 'Master in de verzekeringen' (Dutch-language initial master at KU Leuven) are eligible for membership in the professional body of actuaries in Belgium (IA|BE), and the international actuarial professional body (IAA).
At the end of the programme students will:
The programme addresses the rapidly-changing needs resulting from the accelerating globalisation of the banking and insurance sector. As such, it provides a sound basis for a career in various areas of risk management, financial and actuarial engineering and insurance. Most graduates find employment in insurance companies, whose financial stability depends on actuarial calculations (e.g. premiums, provisions, capital requirements, reinsurance policy).
As an expert in the field of risk and uncertainty, you can also play an important role in banking and finance. The increasing convergence between the insurance and financial markets as well as the use of mathematically based instruments, such as options and futures, offers excellent career prospects. Graduates are well placed to find employment in banks, pension funds, reinsurance companies, consulting and audit companies.
Some graduates go to work in government, for instance in social security or economic affairs departments. Graduates holding both the degree of Master of Financial and Actuarial Engineering and 'Master in de verzekeringen' (Dutch-language initial Master's programme at KU Leuven) are eligible for membership in the professional body of actuaries in Belgium (IA|BE).
To successfully complete this course, you must have a very good understanding of mathematics. You may well have studied maths, physics or engineering degrees as an undergraduate.
Or you might have a bachelor’s degree in economics or science and in particular computer science, which, coupled with your interest in stochastics, could also qualify you for this programme.
You should have a general interest in learning the more technical and mathematical techniques used in financial markets; but you don’t need to have a background in finance.
The MSc Financial Mathematics focuses on stochastics and simulation techniques, but also covers some econometrics. You’ll study core modules covering asset pricing, risk management and an introduction to key financial securities such as equities, fixed income and derivatives.
You’ll cover a wide range of elementary and advanced topics in stochastics, including Levy processes and different simulation techniques. You’ll be taught Matlab and VBA and you have the opportunity to learn other programming languages as part of our electives offering, such as Python or C++.
There are three ways to complete the third term. Either you’ll choose five electives from around 40 optional modules in your final term. Or you can choose to complete a traditional dissertation, known as a ‘business research project’, which counts for four electives, or a shorter ‘applied research project’, which is the equivalent of two elective modules.
We review all our courses regularly to keep them up-to-date on issues of both theory and practice.
To satisfy the requirements of the degree course students must complete:
Assessment of modules on the MSc in Financial Mathematics, in most cases, is by means of coursework and unseen examination. Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work may include an element of peer assessment.
The Financial Mathematics course starts with two compulsory induction weeks, focused on:
The job opportunities for students from the three quants Masters programmes are very similar and students usually find employment with either large investment banks, or smaller specialist companies or financial boutique firms. Working as a quantitative analysts using stochastic, technical risk management position, pricing fixed income securities and structuring are some of the positions Financial Mathematics students are well qualified for. You will also have the skills to study for a PhD in the area of quantitative finance and financial markets.