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Masters Degrees (Msc Financial Engineering)

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The ICMA Centre’s financial engineering degree is highly respected by quantitative analysts and their employers. The credit crunch and subsequent events have emphasised the need to develop better pricing and better hedging models for all complex products. Read more

The ICMA Centre’s financial engineering degree is highly respected by quantitative analysts and their employers. The credit crunch and subsequent events have emphasised the need to develop better pricing and better hedging models for all complex products. The practical and quantitative skills that you will develop on the programme will equip you to meet this challenge.

Our compulsory modules provide a firm grounding in probability theory, stochastic calculus, derivatives pricing, quantitative and numerical methods, structuring products, volatility analysis, and the modelling of credit, equity, foreign exchange and interest rate derivatives. We also provide a thorough training in C++ and other programming tools.

Optional modules will allow you to focus on risk analysis, portfolio management, designing trading strategies or econometric analysis. This newly structured degree aims to further enhance the strong reputation of its precursor – the MSc in Financial Engineering and Quantitative Analysis, which was established back in 1999. A good background in mathematics is required for acceptance to this programme (see entry requirements below).

Highlights

  • A highly technical programme for those with strong mathematical skills
  • Gain knowledge of derivatives pricing tools and methods, as well as the use of programming languages like C++ and VBA
  • Designed with the support of industry practitioners to equip students with the skills and knowledge needed to succeed
  • Graduates are able to make an early contribution through the unique combination of hands-on, practical skills and the necessary underlying finance theory
  • Benefit from the combined expertise of both the ICMA Centre and the Department of Mathematics

Course structure

October – December: Part 1 Autumn Term

January: Part 1 Exams

January-April: Part 2 Spring Term

May – June: Part 2 Exams

June – August (12 month programme only): Part 3

August/Sep (12 month programme only): Part 3 Coursework deadlines

Course content

Part 1 compulsory modules

Part 2 compulsory modules

Part 2 optional modules

Students on the 9-month (12-month) programme can select 40 (20) credits from the following modules:

Part 3 optional modules

Optional modules

Students on the 12-months programme should take 20 credits from the following:

Learning options

Full-time: 9 months Full-time: 12 months

Students will be resident and undertake full-time study in the UK. Under both, the 9 and 12-month programmes students take compulsory and/or elective modules in Part 2.

The 12 month option involves taking an elective 20 credit module between July and August, which would also mean a 20 credit reduction in the number of taught modules taken in the spring term.

Careers

Many of our financial engineering graduates are now working as Quants in large London banks and other financial institutions. Others have pursued PhDs and have successful academic careers. Financial instruments are becoming ever more sophisticated, so graduates that understand complex modelling techniques are always in great demand. The high quantitative content of this programme opens many doors to a wide range of careers. You could structure and develop new debt or equity solutions to meet clients funding and hedging needs, or you could become a proprietary trader in exotic derivatives, or a software specialist or a quantitative analyst supporting the traders.

There are excellent opportunities on the buy-side, with hedge funds and investment institutions, as well as in investment banking and in software analytics. Opportunities in quantitative research, or with a rating agency, are among the many other attractive alternatives. Outside of mainstream banking and investment, you might also consider firms involved in commodity and energy trading, or the treasury divisions of leading multinationals and management consultancies.

Professional accreditation

ICMA Fixed Income Certificate

To obtain the requisite knowledge to pass the rigorous FIC exam, students are required to take the ICMA Centre Fixed Income Cash and Derivatives Markets module at Part 2. In order to receive the FIC certificate, students will need to register and pass the FIC exam through ICMA.



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How can we prevent another financial crisis? Is it by better understanding risk in financial securities? Can improving the way we measure and manage risk create stability in the financial world?. Read more
How can we prevent another financial crisis? Is it by better understanding risk in financial securities? Can improving the way we measure and manage risk create stability in the financial world?

The after effects of the 2008 financial meltdown are still being felt across the globe. We need knowledgeable financial professionals who can evaluate risk, act rationally and understand the economic impact of their actions in order to find solutions. If you can rise to the challenge of making ethical, sound financial decisions in pressurised environments, MSc Financial Engineering and Risk Management is for you.

You follow advanced, contemporary study in financial engineering and risk management and develop a deeper understanding of the risks within modern financial securities. You also become skilled in the design of robust management systems to measure risk. Upon graduation, you should possess the skills and knowledge for a successful career in commercial, investment and central banks, hedge funds, regulatory authorities and rating agencies.

You master areas including:
-Asset pricing
-Derivative securities
-Financial modelling
-Mathematical research techniques using Matlab

MSc Financial Engineering and Risk Management is taught at Essex Business School, home to one of the largest, and most respected, finance groups in the UK. Our teaching is grounded in contemporary issues and professional practice, supported by industry-standard facilities, such as our Bloomberg virtual trading floor.

We’re ranked in the top 25 in the UK for research excellence (REF 2014) and are home to an international community of scholars, practitioners and academics; our current Masters students join us from more than 40 countries.

This course is also available to study part-time and you may be able to apply for scholarships and discounts offered by the University of Essex. Essex Business School also offers a limited number of scholarships for the CFA level one exam and IMC level one and two exams to exceptional Masters students.

Essex Business School is an IMC Advantage Partner and a Recognised Partner of the CFA.

Postgraduate loans for Masters courses are now available from the Student Loans Company, worth up to £10,000, for students from the UK and EU.

Our expert staff

We’re home to Essex Finance Centre, which produces research at the cutting-edge of financial debate.

Work by our expert staff has been discussed in the Bank of England, the European Central Bank and the Federal Reserve, so you join a business school that seeks to make a real difference to solving financial challenges around the world.

We combine academic experience with industry expertise and are renowned for research into:
-Business ethics and corporate social responsibility
-Organisation studies
-Leadership and strategy
-Finance and banking
-Risk management
-International management

Specialist facilities

You’re based at our Colchester Campus, in our landmark zero carbon building.

Our Colchester home is an example of our dedication to sustainable and ethical business practices. Its design is both environmentally friendly and architecturally stunning, with a winter garden and sun terrace contributing to the building’s own micro-climate and providing a tranquil environment for group working and socialising. Our Bonds café is located on site, making a great space for reviewing course notes before lectures.

Our virtual trading floor, complete with Bloomberg Financial Market Labs, enables you to practice dealing stocks and securities using industry-standard equipment. You can also benefit from our study skills workshops, designed to help you excel in your academic work.

Our building is also located on the University’s Knowledge Gateway, providing potential opportunities to network with inspiring SMEs who locate their businesses on our Colchester Campus.

Your future

An Essex Business School education is founded on creativity, innovation and ethical awareness to prepare you for the challenges of the global marketplace. In 2015, 78% of our postgraduate taught students were in work or further study (DLHE).

Our course provides you with the opportunity to develop a career in financial analysis, management, public administration and accountancy, as well as fostering your entrepreneurial spirit.

We provide plenty of support along the way to help you secure your dream job. Our dedicated employability team work closely with the University’s Employability and Careers Centre to help you find out about further work experience, internships, placements, and voluntary opportunities.

Example structure

-MSc Finance and Investment: Dissertation
-Finance Research Techniques Using Matlab
-Research Methods in Finance: Empirical Methods in Finance
-Postgraduate Mathematics Preparation
-Risk Management
-Financial Modelling
-Asset Pricing
-Derivative Securities
-Trading Global Financial Markets (optional)

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The global shortage of qualified civil engineers includes specialists in water engineering and this MSc programme helps redress this imbalance by providing graduates with an advanced knowledge and skill base to equip them for senior industry roles. Read more

About the course

The global shortage of qualified civil engineers includes specialists in water engineering and this MSc programme helps redress this imbalance by providing graduates with an advanced knowledge and skill base to equip them for senior industry roles.

Brunel’s MSc in Water Engineering is unique in providing specialist knowledge on the critical sub-topics of water and wastewater management and engineering, desalination systems, building water services engineering, industrial waste water management, and water in health care.

The programme demonstrates the links between theory and practice by including input from our industrial partners and through site visits. This is a key aspect for establishing a competitive and high added value course that provides adequate links with industry.

Features of the course include:

Students’ skills in gathering and understanding complex information from a variety of sources (including engineering, scientific and socio-economic information) will be developed in an advanced research methods module. 

Issues relating to risk and health and safety will be introduced in the research methods module and built on in specialist modules. 

Generic modules in financial and project management will underpin specialist modules focusing on water engineering topics.

Real problem-solving examples – starting from basic principles, to the identified problem, the solution, the implementation process and was implemented and the end result. 

Real case studies – demonstrating how environmental and economic sustainability is considered within civil engineering, particularly in water resources management.

Aims

Problems associated with water resources, access, distribution and quality are amongst the most important global issues in this century. Water quality and scarcity issues are being exacerbated by rising populations, economic growth and climate change*.

Brunel's programme in Water Engineering aims to develop world class and leading edge experts on water sustainability who are able to tackle the industry’s complex challenges at a senior level. During the programme you will also learn about the development and application of models that estimate the carbon and water footprint within the energy and food sector.

The MSc is delivered by experienced industry professionals who bring significant practical experience to the course – and the University’s complete suite of engineering facilities and world-class research experience are set up for development and engineering of advanced systems, testing a variety of processes, designs and software tools.

*Recent figures indicate that 1.1 billion people worldwide do not have access to clean drinking water, while 2.6 billion do not have adequate sanitation (source: WHO/UNICEF 2005). 

Course Content

The primary aim of this programme is to create master’s degree graduates with qualities and transferable skills for demanding employment in the water engineering sector. Graduates will have the independent learning ability required for continuing professional development and acquiring new skills at the highest level.

Specific aims are as follows:

- To provide education at postgraduate level in civil engineering. 
- To develop the versatility and depth to deal with new, complex and unusual challenges across a range of water engineering issues, drawing on an understanding of all aspects of water engineering principles. 
- To develop imagination, initiative and creativity to enable graduates to follow a successful engineering career with national and international companies and organisations. 
- To provide a pathway that will prepare graduates for successful careers including, where appropriate, progression to Chartered Engineer status.

The programme will provide opportunities for students to develop and demonstrate knowledge and understanding, qualities, skills and other attributes in the following areas:

Knowledge and understanding of:

- The principles of water engineering, including fluid mechanics, hydrology, and sustainable design. 
- Specialist areas that impact on the successful application of water engineering knowledge projects, e.g. sustainable construction management, financial management and risk analysis. 
- The interplay between engineering and sustainability in complex, real-world situations.

At the cognitive level students will be able to:

- Select, use and evaluate appropriate investigative techniques.
- Assemble and critically analyse relevant primary and secondary data.
- Recognise and assess the problems and critically evaluate solutions to challenges in managing water engineering projects.
- Evaluate the environmental and financial sustainability of current and potential civil engineering activities.

Personal and transferable skills that students develop will allow them to:

- Define and organise a substantial advanced investigation. 
- Select and employ appropriate advanced research methods. 
- Organise technical information into a concise, coherent document.
- Effectively employ a variety of communication styles aimed at different audiences. 
- Plan, manage, evaluate and orally-presented personal projects. 
- Work as part of, and lead, a team.

Typical Modules

Each taught module will count for 15 credits, approximating to 150 learning hours. The Master's programme can be taken full time, over 12 months. The first eight months of the full time course will eight taught modules. For the final four months, students will complete a dissertation counting for 60 credits. Modules cover:

Sustainable Project Management
GIS and Data Analysis
Water Infrastructure Engineering
Risk and Financial Management
Hydrology & Hydraulics
Water Treatment Engineering
Water Process Engineering
Research Methods
Civil Engineering Dissertation

Teaching

Our philosophy is to underpin theoretical aspects of the subject with hands-on experience in applying water engineering techniques. Although you may move on to project management and supervision roles, we feel it important that your knowledge is firmly based on an understanding of how things are done. To this end, industrial partners will provide guest lectures on specialist topics.

In addition to teaching, water engineering staff at Brunel are active researchers. This keeps us at the cutting edge of developments and, we hope, allows us to pass on our enthusiasm for the subject.

How many hours of study are involved?

Contact between students and academic staff is relatively high at around 20 hours per week to assist you in adjusting to university life. As the course progresses the number of contact hours is steadily reduced as you undertake more project-based work.

How will I be taught?

Lectures:
These provide a broad overview of the main concepts and ideas you need to understand and give you a framework on which to expand your knowledge by private study.
Laboratories:
Practicals are generally two- or three-hour sessions in which you can practise your observational and analytical skills, and develop a deeper understanding of theoretical concepts.
Design Studios:
In a studio you will work on individual and group projects with guidance from members of staff. You may be required to produce a design or develop a solution to an engineering problem. These sessions allow you to develop your intellectual ability and practice your teamwork skills.
Site visits:
Learning from real-world examples in an important part of the course. You will visit sites featuring a range of water engineering approaches and asked to evaluate what you see.
One-to-one:
On registration for the course you will be allocated a personal tutor who will be available to provide academic and pastoral support during your time at university. You will get one-to-one supervision on all project work.

Assessment

Several methods of assessment are employed on the course. There are written examinations and coursework. You will undertake projects, assignments, essays, laboratory work and short tests.

Project work is commonplace and is usually completed in groups to imitate the everyday experience in an engineering firm, where specialists must pool their talents to design a solution to a problem.

In this situation you can develop your management and leadership skills and ensure that all members of the group deliver their best. Group members share the mark gained, so it is up to each individual to get the most out of everyone else.

Special Features

Extensive facilities
Students can make the most of laboratory facilities which are extensive, modern and well equipped. We have recently made a major investment in our Joseph Bazalgette Laboratories which includes hydraulic testing laboratory equipment and facilities such as our open channel flow flumes.

Personal tutors
Although we recruit a large number of highly qualified students to our undergraduate, postgraduate and research degrees each year, we don’t forget that you are an individual. From the beginning of your time here, you are allocated a personal tutor who will guide you through academic and pastoral issues.

World-class research
The College is 'research intensive' – most of our academics are actively involved in cutting-edge research. Much of this research is undertaken with collaborators outside the University, including construction companies, water utilities, and other leading industrial firms. We work with universities in China, Poland, Egypt, Turkey, Italy, Denmark and Japan. This research is fed directly into our courses, providing a challenging investigative culture and ensuring that you are exposed to up-to-date and relevant material throughout your time at Brunel.

Strong industry links
We have excellent links with business and industry in the UK and overseas. This means:
Your degree is designed to meet the needs of industry and the marketplace.
The latest developments in the commercial world feed into your course.
You have greater choice and quality of professional placements.
We have more contacts to help you find a job when you graduate.

Visting Professors 
The Royal Academy of Engineering - UK’s national academy for engineering has appointed senior industrial engineers as visiting professors at Brunel University London.
The Visting Professors Scheme provides financial support for experienced industrial engineers to deliver face-to-face teaching and mentoring at a host of institutions. Our engineering undergraduates will benefit from an enhanced understanding of the role of engineering and the way it is practised, along with its challenges and demands. 

Women in Engineering and Computing Programme

Brunel’s Women in Engineering and Computing mentoring scheme provides our female students with invaluable help and support from their industry mentors.

Accreditation

This course has been designed in close consultation with the industry and is accredited as a designated 'technical' MSc degree by the Join Board of Moderators (JBM). The JBM is made up of Institution of Highways and Transport and the Institution of Highway Engineeres respectively.

1. This means this course provides Further Learning for a Chartered Engineer who holds a CEng accredited first degree (full JBM listing of accredited degrees).
2. As a designated ‘technical’ MSc, it will also allow suitable holders of an IEng accredited first degree to meet the educational base for a Chartered Engineer.

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This highly specialised degree is designed to provide a practical understanding of a wide range of corporate finance services and corporate transactions. Read more

This highly specialised degree is designed to provide a practical understanding of a wide range of corporate finance services and corporate transactions. Both, corporate financial management and investment banking is at the core of the programme which is highly regarded in the City of London. 

Through hands-on sessions and extensive use of case-studies and financial analysis simulations, participants will be fascinated by the exciting world of venture capital, private equity, corporate governance and mergers and acquisitions. You will specialise in corporate investment and capital budgeting decisions, IPOs, payout policy, capital structure, enterprise valuation, financial analysis and risk management. You will also gain an in-depth understanding of financial markets, securities trading and quantitative techniques, and be able to further specialise on a wide range of additional elective topics.

MSc Corporate Finance graduates have the advantage of exemption from the Corporate Investment exam of its CFC qualification.

Highlights

  • Study one of the most reputable Masters within the investment banking community
  • Focus on highly specialised topics such as private equity, corporate governance and mergers and acquisitions.
  • Experience a practice-centred delivery approach including hands-on sessions, case studies, financial analysis simulations and programming sessions.
  • Benefit from professional exam exemptions from the CFC qualification.
  • Choose from over 15 elective modules to gain specialisation in a wide array of finance topics

Course structure

October – December: Part 1 Autumn Term

January: Part 1 Exams

January-April: Part 2 Spring Term

May – June: Part 2 Exams

June – August (12 month programme only): Part 3

August/Sep (12 month programme only): Part 3 Coursework deadlines

Course content

Part 1 compulsory modules

Part 2 compulsory modules

Part 2 optional modules

Students on the 9-month (12-month) programme can select 80 (60) credits of electives from the following list

A minimum of 40 of those credits must be chosen from the following:

Part 3 optional modules

Students on the 12-months programme should take 20 credits from the following:

Learning options

Full-time: 9 months Full-time: 12 months

Students will be resident and undertake full-time study in the UK. Under both, the 9 and 12-month programmes students take compulsory and/or elective modules in Part 2.

The 12 month option involves taking an elective 20 credit module between July and August, which would also mean a 20 credit reduction in the number of taught modules taken in the spring term.

Careers

There is a demand for professionals who combine an understanding of the financial markets with knowledge of the financial decisions facing companies in their day-to-day operations. Such professionals also need a clear insight into related fields including accounting, risk management, capital budgeting, debt and equity finance, financial planning, venture capital and mergers and acquisitions.

As a MSc Corporate Finance graduate, you will be well equipped to join careers in investment banks in the City of London and other international financial centres, professional services firms, including management consultancies and accountancy practices, and small, entrepreneurial ventures where an in-depth knowledge of finance will be of direct benefit to the owner/managers seeking to build their business.

Professional accreditation

CISI Diploma

The ICMA Centre is a Chartered Institute of Securities and Investment (CISI) Centre of Excellence. Centres of Excellence are a select group of UK universities, recognised by the CISI as offering leadership in academic education on financial markets. Students who are on a financially-related masters course recognised by the CISI are eligible for exemptions and membership. 

ICMA Centre students who register and successfully complete two CISI Diploma in Capital Markets modules (Securities and Bonds & Fixed Interest Markets) are eligible for an exemption from the third module (Financial Markets).

NDRCTC CFC Certificate

Students are eligible for exemption from the Corporate Investment exam. This will apply to graduates from 2011 entry onwards. (The CFC qualification comprises 3 exams: Overview and fundamentals of corporate finance; Corporate investment; Corporate financing)



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Have you ever wondered how the latest life science discoveries - such as a novel stem cell therapy - can move from the lab into commercial scale production?… Read more

Have you ever wondered how the latest life science discoveries - such as a novel stem cell therapy - can move from the lab into commercial scale production? Would you like to know whether it is possible to produce bio-polymers (plastics) and biofuels from municipal or agricultural waste? If you are thinking of a career in the pharma or biotech industries, the Biochemical Engineering MSc could be the right programme for you.

About this degree

Our MSc programme focuses on the core biochemical engineering principles that enable the translation of advances in the life sciences into real processes or products. Students will develop advanced engineering skills (such as bioprocess design, bioreactor engineering, downstream processing), state-of-the-art life science techniques (such as molecular biology, vaccine development, microfluidics) and essential business and regulatory knowledge (such as management, quality control, commercialisation).

Three distinct pathways are offered tailored to graduate scientists, engineers, or biochemical engineers.

Students undertake modules to the value of 180 credits.

The programme offers three distinct pathways tailored to: graduate scientists ("Engineering Stream"); graduate engineers from other disciplines ("Science Stream"); or graduate biochemical engineers ("Biochemical Engineering Stream"). The programme for all three streams consists of a combination of core and optional taught modules (120 credits) and a research or design project (60 credits).

Core modules

Students are allocated to one of the three available streams based on their academic background (life science/science, other engineering disciplines, biochemical engineering). The programme for each stream is tailored to the background of students in that stream. Core modules may include the following (depending on stream allocation). 

  • Advanced Bioreactor Engineering
  • Dissertation on Bioprocess Research
  • Fundamental Biosciences
  • Integrated Downstream Processing
  • Sustainable Industrial Bioprocesses and Biorefineries

Please go to the "Degree Structure" tab on the departmental website for a full list of core modules.

Optional modules

Optional modules may include the following (details will vary depending on stream allocation).

  • Bioprocess Management – Discovery to Manufacture
  • Bioprocess Microfluidics
  • Bioprocess Systems Engineering
  • Bioprocess Validation and Quality Control
  • Commercialisation and Bioprocess Research
  • Vaccine Bioprocess Development

Please go to the "Degree Structure" tab on the departmental website for a full list of optional modules

Research project/design project

Students allocated to the "Engineering" stream will have to complete a bioprocess design project as part of their MSc dissertation.

Students allocated to the "Science" and "Biochemical Engineering" streams will have to complete a research project as part of their MSc dissertation.

Teaching and learning

The programme is delivered through a combination of lectures, tutorials, and individual and group activities. Guest lectures delivered by industrialists provide a professional and social context. Assessment is through unseen written examinations, coursework, individual and group project reports, individual and group oral presentations, and the research or design project.

Further information on modules and degree structure is available on the department website: Biochemical Engineering MSc

Careers

The rapid advancements in biology and the life sciences create a need for highly trained, multidisciplinary graduates possessing technical skills and fundamental understanding of both the biological and engineering aspects relevant to modern industrial bioprocesses. Consequently, UCL biochemical engineers are in high demand, due to their breadth of expertise, numerical ability and problem-solving skills. The first destinations of those who graduate from the Master's programme in biochemical engineering reflect the highly relevant nature of the training delivered.

Approximately three-quarters of our graduates elect either to take up employment in the relevant biotechnology industries or study for a PhD or an EngD, while the remainder follow careers in the management, financial or engineering design sectors.

Recent career destinations for this degree

  • Biopharmaceutical Processing Engineer, Johnson & Johnson
  • Process Engineer, ExxonMobil
  • PhD Biochemical Engineering, UCL
  • Bio-Pharmaceutical Engineer, GSK (GlaxoSmithKline)
  • Research Analyst, CIRS (Centre for Innovation in Regulatory Science)

Employability

The department places great emphasis on its ability to assist its graduates in taking up exciting careers in the sector. UCL alumni, together with the department’s links with industrial groups, provide an excellent source of leads for graduates. Over 1,000 students have graduated from UCL with graduate qualifications in biochemical engineering at Master’s or doctoral levels. Many have gone on to distinguished and senior positions in the international bioindustry. Others have followed independent academic careers in universities around the world.

Careers data is taken from the ‘Destinations of Leavers from Higher Education’ survey undertaken by HESA looking at the destinations of UK and EU students in the 2013–2015 graduating cohorts six months after graduation.

Why study this degree at UCL?

UCL was a founding laboratory of the discipline of biochemical engineering, established the first UK department and is the largest international centre for bioprocess teaching and research. Our internationally recognised MSc programme maintains close links with the research activities of the Advanced Centre for Biochemical Engineering which ensures that lecture and case study examples are built around the latest biological discoveries and bioprocessing technologies.

UCL Biochemical Engineering co-ordinates bioprocess research and training collaborations with more than a dozen UCL departments, a similar number of national and international university partners and over 40 international companies. MSc students directly benefit from our close ties with industry through their participation in the Department’s MBI® Training Programme.

The MBI® Training Programme is the largest leading international provider of innovative UCL-accredited short courses in bioprocessing designed primarily for industrialists. Courses are designed and delivered in collaboration with 70 industrial experts to support continued professional and technical development within the industry. Our MSc students have the unique opportunity to sit alongside industrial delegates, to gain deeper insights into the industrial application of taught material and to build a network of contacts to support their future careers. 

Accreditation

Our MSc is accredited by the Institute of Chemical Engineers (IChemE).

The “Science” and “Biochemical Engineering” streams are accredited by the IChemE as meeting the further learning requirements, in full, for registration as a Chartered Engineer (CEng, MIChemE).



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Postgraduate degree programme in Financial Engineering Masters/MSc. Read more

Postgraduate degree programme in Financial Engineering Masters/MSc:

MSc Financial Engineering is a multi-disciplinary field that involves the application of the computational engineering, software engineering, and computer programming skills, as well as the underlying mathematical and statistical theories to the analysis and management of financial opportunities. Students will receive the most advanced computational and programming techniques which help them advance quickly in the field.

Course details

Financial engineering is a multi-disciplinary field that involves the application of computational engineering, software engineering, and computer programming skills, as well as the underlying mathematical and statistical theories to the analysis and management of financial opportunities. 

The programme is for strong (1st, 2.1 or equivalent) graduates from programmes in mathematics, or programmes with advanced mathematical components, and who wish to pursue a career in quantitative analysis in economic or financial sectors with state-of-art mathematical methods, computational skills and programming expertise.

Related links

Learning and teaching

In the Autumn and Spring semesters, you will take masters-level courses in both computational methods and programming and statistical methods in economics, as well as computer science courses such as the Computer Science Workshop, in addition to the core quantitative finance and further quantitative finance modules which are needed for a career in financial engineering and computational finance. 

In the summer you will undertake a project, working with research leaders in mathematics and computer sciences. This will provide directly relevant training for a career in academic, and quantitative analysis in financial industry. A key component will be training specifically in independent study and research, an essential skill for quantitative analyst.

Employability

Career opportunities

This programme gives an ideal preparation for a career in quantitative analysis in economic or financial sectors with state-of-art mathematical methods, computational skills and programming expertise. The School’s graduates work in a wide variety of fields in governmental and multi-national organisations.

University Careers Network

Preparation for your career should be one of the first things you think about as you start university. Whether you have a clear idea of where your future aspirations lie or want to consider the broad range of opportunities available once you have a Birmingham degree, our Careers Network can help you achieve your goal.

Our unique careers guidance service is tailored to your academic subject area, offering a specialised team (in each of the five academic colleges) who can give you expert advice. Our team source exclusive work experience opportunities to help you stand out amongst the competition, with mentoring, global internships and placements available to you. Once you have a career in your sights, one-to-one support with CVs and job applications will help give you the edge.

If you make the most of the wide range of services you will be able to develop your career from the moment you arrive.



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What is the 'Master of Financial and Actuarial Engineering' all about?. The Master of Financial and Actuarial Engineering programme provides students with up-to-date, sound and advanced financial, actuarial and statistical skills. Read more

What is the 'Master of Financial and Actuarial Engineering' all about?

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.

Objectives

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:

  • be equipped with fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques;
  • have advanced insights in the actuarial aspects of life insurance, general insurance, risk theory as well as in the interrelationship and integration of actuarial sciences and financial mathematics;
  • have a strong background in quantitative methods and financial models and will be able to select and apply those methods to problems that involve risk or uncertainty;
  • dispose of enhanced analytical, critical, conceptual, problem solving and decision making capabilities and skills;
  • have the ability to integrate actuarial, statistical and financial modelling techniques in order to arrive at effective solutions to problems occurring in insurance and financial practice;
  • be able to conduct research, not only in an academic context, but also in view of a professional career;
  • be able to stay up-to-date with the advances in actuarial sciences by following up and familiarizing with new insights, developments, results and methods;
  • be able to communicate and report adequately on financial and actuarial topics.

Career perspectives

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).



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Why this course?. Civil engineering develops and improves facilities and services that society needs – from the supply of clean water and energy to the design and construction of roads, railways and stations. Read more

Why this course?

Civil engineering develops and improves facilities and services that society needs – from the supply of clean water and energy to the design and construction of roads, railways and stations. Solving problems of air, land and water pollution and protecting society against natural disasters are also important aspects of civil engineering.

Engineering graduates are in high demand from recruiting companies worldwide.

This 18-month MSc course has been designed to meet the needs of a broad range of engineering industries. As a Masters student, you’ll gain the specialist and generic skills necessary to lead future developments, with practical experience provided by the industrial placement.

The course has a significant design element based on the most up-to-date specialist design guidelines. This includes a major design project that integrates acquired knowledge and acts as a platform for structured self-learning.

This MSc in Civil Engineering with Industrial Placement is suitable for graduates with a background in any discipline of civil engineering. Applicants with a degree in environmental engineering, earth science, mathematics, physics and mechanical engineering may also be considered.

The MSc in Civil Engineering with Industrial Placement has four optional specialist streams:

  • Structural Engineering & Project Management
  • Geotechnical Engineering & Project Management
  • Geoenvironmental Engineering & Project Management
  • Water Engineering & Project Management

Industrial placement or industry-linked project

You'll complete an industry-linked project or industrial placement in the period from June to August. The Department will support you in making applications for industry internships, and will provide project topics with industry partners, for industry-linked projects. Industry-linked projects generally involve a short secondment to industry as part of the project.

You’ll study

You'll take the compulsory module Civil Engineering Design Projects. This module gives you the opportunity to work on real projects. Students currently undertake a renewable energy project. You’ll develop comprehensive and innovative designs that involve structural engineering, geotechnical engineering and water engineering, management, environmental and financial planning.

In additional to the industrial placement you'll also take the compulsory module Research Protocols for Science & Engineering which supports the dissertation project. You also have a wide choice of optional modules.

Following successful completion of the taught component, you’ll undertake a dissertation. If you’re on one of the specialist streams you’ll undertake a research project on a topic related to that stream. The dissertation can be linked to the industrial placement and worked on together with the industrial partner.

New class

Starting in session 2017-18, a new class on Building Information Modelling (BIM) will be available as an option for students who register for this MSc. Knowledge of BIM, a process for creating and managing information on a construction project across the project lifecycle, is sought after by employers.

Facilities

Our £6 million state-of-the-art laboratory facilities are well-equipped with high-technological instrumentation and available space to investigate:

  • environmental & molecular microbiology
  • environmental chemistry
  • analytical chemistry
  • geomechanics & soil quality
  • structural design & material science

Accreditation

The MSc Civil Engineering programme (including the specialist streams except for the water engineering stream) has been fully accredited by Joint Board of Moderators (JBM) as meeting the requirements for Further Learning for a Chartered Engineer (CEng) for candidates who have already acquired a partial CEng accredited undergraduate first degree.

The accreditation of MSc in Civil Engineering with Water Engineering & Project Management will be applied three years after initial launch in 2016.

Course structure

You'll take 210 credits made up of 120 credit taught modules, 30 credits industrial placement and 60 credits dissertation. The 18 months full-time MSc course spans three semesters as follows:

  • Semester 1 – Year 1, January to May - 60 credits of taught classes
  • Industrial placement – Year 1, June to September - 30 credits
  • Semester 2 – Year 1, October to December - Research methods and design project classes and 30 credits of taught classes
  • Semester 3 – Year 2, January to June - 60 credits dissertation

Learning & teaching

Some classes involve fieldtrips and/or lab work. For fieldtrips, you need to wear warm clothing, waterproof jacket/trousers and sturdy shoes/boots (e.g. hiking boots or non-slip wellington boots).

Careers

High-calibre civil engineers are in demand throughout the world. As a graduate you'll have many different career options including:

  • engineering consultancies, where the work normally involves planning and designing projects
  • contractors, where you’ll be managing and overseeing works on-site
  • working for utilities or local authorities
  • working for large companies such as those within oil & gas production, mining, power generation, renewable energy & sustainable infrastructure

For lab work, you’ll need a lab coat.



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Why this course?. Engineering graduates are in high demand from recruiting companies worldwide. This course has been designed to meet the needs of a broad range of engineering industries. Read more

Why this course?

Engineering graduates are in high demand from recruiting companies worldwide.

This course has been designed to meet the needs of a broad range of engineering industries. As a Masters student, you’ll gain the specialist and generic skills necessary to lead future developments.

This one-year MSc in civil engineering is suitable for graduates with a background in any discipline of civil engineering. Applicants with a degree in environmental engineering, earth science, maths, physics and mechanical engineering may also be considered.

You can graduate with an MSc in Civil Engineering or choose to follow a specialist named stream:

  • Civil Engineering with Structural Engineering & Project Management
  • Civil Engineering with Geotechnical Engineering & Project Management
  • Civil Engineering with Geoenvironmental Engineering & Project Management
  • Civil Engineering with Water Engineering & Project Management

You’ll study

You'll take the compulsory module Civil Engineering Design Projects. This module gives you the opportunity to work on real projects. Students currently undertake a renewable energy project. You’ll develop comprehensive and innovative designs that involve structural engineering, geotechnical engineering and water engineering, management, environmental and financial planning.

You'll also take the compulsory module Qualitative & Quantitative Research Methods which supports the dissertation project. You also have a wide choice of optional modules.

Following successful completion of the taught component, you’ll undertake a dissertation. If you’re on one of the specialist streams you’ll undertake a research project on a topic related to that stream.

New class

Starting in session 2017-18, a new class on Building Information Modelling (BIM) will be available as an option for students who register for this MSc. Knowledge of BIM, a process for creating and managing information on a construction project across the project lifecycle, is sought after by employers.

Placements

As part of the class Independent Study in Collaboration with Industry, you can apply to work with industry projects.

Facilities

Our £6 million state-of-the-art laboratory facilities are well-equipped with high-technological instrumentation and available space to investigate:

  • environmental & molecular microbiology
  • environmental chemistry
  • analytical chemistry
  • geomechanics & soil quality
  • structural design & material science

Accreditation

The MSc Civil Engineering programme (including the specialist streams except for the water engineering stream) has been fully accredited by Joint Board of Moderators (JBM) as meeting the requirements for Further Learning for a Chartered Engineer (CEng) for candidates who have already acquired a partial CEng accredited undergraduate first degree.

The accreditation of MSc in Civil Engineering with Water Engineering & Project Management will be applied three years after initial launch in 2016. 

Learning & teaching

The course has two semesters of taught classes. Some classes involve fieldtrips and/or lab work. For fieldtrips, you need to wear warm clothing, waterproof jacket/trousers and sturdy shoes/boots (e.g. hiking boots or non-slip wellington boots).

For lab work, you’ll need a lab coat. At the start of your course you’ll attend a two-day induction welcoming you to the department.

Careers

High-calibre civil engineers are in demand throughout the world. As a graduate you'll have many different career options including:

  • engineering consultancies, where the work normally involves planning and designing projects
  • contractors, where you’ll be managing and overseeing works on-site
  • working for utilities or local authorities
  • working for large companies such as those within oil & gas production, mining, power generation, renewable energy & sustainable infrastructure


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Who is it for?. This course will appeal to you if you want to specialise in finance and economics – either immediately after completion of an undergraduate degree or as a mid-career professional. Read more

Who is it for?

This course will appeal to you if you want to specialise in finance and economics – either immediately after completion of an undergraduate degree or as a mid-career professional.

Developed to meet the increasing demand for specialists in finance and economics, you will receive rigorous training in financial economics and mathematics. It combines solid education in economic theory with exposure to the field of finance through several specialised options. As a result, this MSc will help you prepare for a range of exciting career possibilities, in roles such as financial economist or quantitative analyst.

You have the option of studying full-time over the course of one year or part-time over the course of two.

Objectives

The Financial Economics MSc aims to help you:

  • Gain combined exposure to the regulatory and policy aspects of finance with world-class academic training in theory and quantitative methods
  • Develop your critical and analytical abilities in mathematics and economics
  • Prepare academically for a career as a financial economist or quantitative analyst
  • Acquire an advanced understanding of modern economic theory relevant to financial topics
  • Critically interpret current research in financial economics and evaluate its relevance to financial practice
  • Recognise the roles and obligations of the major financial institutions, especially as seen from the point of view of financial regulators and policy makers
  • Understand financial markets
  • Perform routine financial calculations, using widely available computer software for the purpose of forecasting, regulation and analysis
  • Undertake empirical investigations in the field of financial economics, employing appropriate quantitative methods
  • Develop a deep understanding of the strengths and weaknesses of the relevant empirical and theoretical research methodology.

Should you with to pursue further study, the dissertation track can also serve as a stepping stone to an Economics or Finance PhD.

Teaching and learning

The Financial Economics MSc course is delivered through a flexible combination of lectures, seminars and computer lab sessions. Lectures introduce you to the key theories, concepts and economic models. In seminars, you have the opportunity to solve applied problems, analyse case studies and make presentations of research published in leading academic journals.

The computer labs provide you with practical experience of using computer software to perform calculations and conduct realistic simulations. In addition, econometric methods are taught in lab sessions, so you have the opportunity to apply econometric software to empirical research and financial market estimations.

When appropriate, practitioner slots – such as research seminars conducted by external financial experts or presentations by invited academics – will be incorporated into module delivery.

We also offer pre-sessional induction courses on economic analysis for students who need to build up their background in the fundamental aspects of financial economics.

Teaching takes place over two terms, from September to June. Full-time students who pass all the taught modules during the main exam sessions finish the programme at the end of September when they submit their dissertation or literature review.

Full-time students who successfully complete the taught modules in the August resit exam session submit their dissertation or literature review in December.

Part-time students complete their modules over the course of four terms from September to June before undertaking their dissertation or literature review.

Pre-sessionals

Pre-sessional activities covering Micro-and Macroeconomics, Stata, Excel, Probability and Mathematics run in September before the start of term. These are available for all students who secure a place on the MSc Financial Economics course. Pre-sessionals are included in your degree fee and are designed to prepare you for the course. We therefore strongly encourage you to make every effort to attend.

You are not required to register for the above pre-sessionals, you just need to turn up on the day. Further information, such as the exact times and locations will be provided in your induction schedule.

Assessment

Assessments are a combination of unseen written examinations (70% for each module) and coursework (30% for each module).

Modules

You will take 180 credits – two 30-credit taught modules, four 15-credit taught modules and  60 extra credits through one of the following routes:

  • Dissertation: you will take a dissertation worth 60 credits (Economics Research Project).
  • Literature survey: you will take two extra elective taught modules of 15 credits each and a literature survey (Economics Literature Survey) worth 30 credits.

For each route, there are two core modules:

  • Dissertation route: you will take three core modules – Financial Markets Econometrics and Asset Pricing. You will also select three electives -  one module from group one, two module from group two.
  • Literature Survey route: you will take three core modules – Financial Markets, Quantitative Methods and Asset Pricing. You will also take five electives – one module from group one, two modules from group two, and two further electives, including possibly one from each of groups one and two.

It is not possible to give exact hours per week because these can vary from one term to the other depending on which electives the students choose.

Career prospects

On completing the Masters in Economics you will have a wide range of career options. Graduates of this course enjoy numerous employment possibilities in both the public and private sectors, including consultancy and financial analysis.

On completing the Masters in Financial Economics course you will have a range of employment possibilities to explore. To some extent, your career options will be determined by the electives you choose.

For example, you may wish to work in the financial industry as a consultant, banker, quantitative analyst. Alternatively you may wish to explore options in the health industry as a financial analyst, or in any industry that requires a financial or industry analyst.

Recent graduate for this course have secured roles such as:

  • Economic Analyst, BlackRock
  • Cash Funding Analyst, Mizuho International
  • Quantitative Analyst, BNP Paribas.

The Financial Economics MSc also provides a solid academic foundation for students wishing to pursue doctoral research in economics.



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World-ranked. for Masters in Finance by the Financial Times, this degree is widely regarded as one of the leading applied finance programmes in Europe. Read more

World-ranked for Masters in Finance by the Financial Times, this degree is widely regarded as one of the leading applied finance programmes in Europe. It has been specially designed with the support of industry practitioners to equip you with the skills and knowledge needed to succeed in the challenging field of international securities and investment banking. It enables our graduates to acquire the practical skills and knowledge sought by employers in the sector through a unique combination of interactive, technically advanced teaching and hands-on training.

It is our longest established programme with over 2,000 alumni around the world. It is also the most flexible finance programme with a choice of over 20 elective modules, providing a broad expertise to equip those who have yet to settle on a specialism, and who look to a wider choice of potential career paths. You will benefit from exposure to advanced analysis tools and resources valued by the financial markets that aim to enhance your practical skills and market awareness. As part of the programme, you will gain an in-depth understanding of the operations of financial markets, securities trading, corporate transactions, valuation, investment strategies and quantitative techniques.

Highlights

  • Ranked in the No. 7 in the UK and No.33 in the world for Masters in Finance
  • 90% of students are employed within 3 months of graduation
  • Experience world-class student facilities and a practice-centred delivery approach
  • Benefit from professional exam exemptions from the Chartered Institute of Securities and Investment (CISI)
  • Work Placement & Project module available for students studying the 12-month course

Course structure

October – December: Part 1 Autumn Term

January: Part 1 Exams

January-April: Part 2 Spring Term

May – June: Part 2 Exams

June – August (12 month programme only): Part 3

August/Sep (12 month programme only): Part 3 Coursework deadlines

Course content

Part 1 compulsory modules

Part 2 optional modules

Students on the 9-month (12-month) programme can select 100 (80) credits from the following modules:

Part 3 optional modules

Students on the 12-months programme should take 20 credits from the following:

Learning options

Full-time: 9 months Full-time: 12 months

Students will be resident and undertake full-time study in the UK. Under both, the 9 and 12-month programmes students take compulsory and/or elective modules in Part 2.

The 12 month option involves taking an elective 20 credit module between July and August, which would also mean a 20 credit reduction in the number of taught modules taken in the spring term.

Careers

Those who graduate in ISIB will leave us well equipped to pursue a wide range of careers in financial services. Many join investment banks to train as financial markets professionals in trading, sales and research, whilst others specialise in complex derivative products and others join brokers and commodity bankers. In addition, many graduates follow other career paths including consultancy, accountancy, operations, IT, and higher education and doctoral research.

Professional Accreditation

CISI Diploma

The ICMA Centre is a Chartered Institute of Securities and Investment (CISI) Centre of Excellence. Centres of Excellence are a select group of UK universities, recognised by the CISI as offering leadership in academic education on financial markets. Students who are on a financially-related masters course recognised by the CISI are eligible for exemptions and membership. 

ICMA Centre students who register and successfully complete two CISI Diploma in Capital Markets modules (Securities and Bonds & Fixed Interest Markets) are eligible for an exemption from the third module (Financial Markets).

ICMA Fixed Income Certificate

To obtain the requisite knowledge to pass the rigorous FIC exam, students are required to take the ICMA Centre Fixed Income Cash and Derivatives Markets module at Part 2. In order to receive the FIC certificate, students will need to register and pass the FIC exam through ICMA.



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This MSc programme builds on the success of our undergraduate Engineering with Business Finance programme and is designed to give graduates with a first degree in a relevant numerate subject the engineering, management and finance knowledge and skills necessary to work on engineering projects, and in business and finance. Read more

This MSc programme builds on the success of our undergraduate Engineering with Business Finance programme and is designed to give graduates with a first degree in a relevant numerate subject the engineering, management and finance knowledge and skills necessary to work on engineering projects, and in business and finance.

About this degree

Core engineering content concentrates on areas of new and emerging technologies and materials combined with modules in project management and financial markets and institutions. Students undertake two engineering projects (a group design project and an individual project) which integrate the knowledge acquired through the taught modules.

Students undertake modules to the value of 180 credits.

The programme consists of four core modules (60 credits), two optional modules (30 credits), a group design project (30 credits) and the individual research project (60 credits).

Core modules

  • Materials and Fatigue
  • Project Management
  • Financial Institutions and Markets
  • New and Renewable Energy Systems

Optional modules

  • Advanced Computer Applications in Engineering
  • Vibration, Acoustics and Control
  • Compliance, Risk and Regulation
  • Entrepreneurial Finance
  • Numerical Analysis for Finance
  • Financial Engineering

Please note: Restrictions apply to selection of optional modules. Please visit the Departmental degree structure page for more information

Dissertation/report

All students undertake a group design project and an individual research project, both culminating in a substantial dissertation. The group project focuses on creativity and design, teamwork, project management and business planning and feasibility. The research project revolves around student research interests; it often has industry input and develops high-level presentation, critical thinking and research skills.

Teaching and learning

This dynamic programme is delivered through a combination of lectures, tutorials, seminars, laboratory and project work, workshops and problem classes, all of which frequently draw upon real-life industrial case studies. Assessment is through examinations, coursework, laboratory reports, presentations, the group design project and the individual research project.

Further information on modules and degree structure is available on the department website: Engineering with Finance MSc

Careers

Graduates of this programme will be well placed for a future career within engineering, project management, finance, investment banking or IT sector. For example, as part of the programme you will complete modules in project management and finance, utilise UCL’s virtual trading room that uses Reuters’ electronic platform and receive guidance on how to work toward recognised certifications for the financial industries. 

Recent career destinations for this degree

  • Analyst, J.P. Morgan
  • Assistant Management Accountant, Network Rail
  • Finance Intern, ZhongHui Futures
  • Mergers and Acquisitions Intern, First Capital Partners
  • Procurement Manager, Hellenic Army

Employability

The programme is delivered by leading researchers from across UCL, and students have plenty of opportunity to network and keep themselves informed about employment opportunities and skills required. Students are encouraged to participate in the UCL Financial Industry Series which organises high-impact conferences, debates and talks on financial topics, to pursue projects in industry and attend events organised by the UCL Finance community. Students also develop networks through the programme itself and through the department’s careers programme which includes employer-led events and individual coaching. This carefully designed programme is equipping our graduates with the skills and confidence needed to play a creative and leading role in the professional and research community.

Careers data is taken from the ‘Destinations of Leavers from Higher Education’ survey undertaken by HESA looking at the destinations of UK and EU students in the 2013–2015 graduating cohorts six months after graduation.

Why study this degree at UCL?

UCL Mechanical Engineering is a dynamic and vibrant place to study and do research. Located in central London it was the first mechanical engineering department in the UK. It has a long reputation for internationally leading research funded by numerous organisations and industry, and quality teaching.

The department benefits from state-of-the-art facilities and close links with industry, and has access to expertise in other disciplines, including engineering and management sciences within UCL.

The Engineering with Finance MSc has been accredited by the Institute of Mechanical Engineers (IMechE).

Research Excellence Framework (REF)

The Research Excellence Framework, or REF, is the system for assessing the quality of research in UK higher education institutions. The 2014 REF was carried out by the UK's higher education funding bodies, and the results used to allocate research funding from 2015/16.

The following REF score was awarded to the department: Mechanical Engineering

90%: Aeronautical, Mechanical, Chemical and Manufacturing Engineering subjects; 95%: General Engineering subjects rated 4* (‘world-leading’) or 3* (‘internationally excellent’)

Learn more about the scope of UCL's research, and browse case studies, on our Research Impact website.



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Mathematical finance is an area of applied mathematics where concepts and techniques that lie close to the heart of pure mathematics are applied routinely to solve a great variety of important practical problems arising in the day-to-day business of the world's financial institutions. Read more

About the course

Mathematical finance is an area of applied mathematics where concepts and techniques that lie close to the heart of pure mathematics are applied routinely to solve a great variety of important practical problems arising in the day-to-day business of the world's financial institutions.

The objective of the Brunel MSc in Financial Mathematics is to guide students through to a mastery of the sophisticated mathematical ideas underlying modern finance theory, along with the associated market structures and conventions, with emphasis on:

- The modelling of the dynamics of financial assets, both in equity markets and in fixed-income markets
- The pricing and hedging of options and other derivatives, and
- The quantification and management of financial risk.

Candidates are also provided with the means to master the numerical and computational skills necessary for the practical implementation of financial models, thus enabling you to put theory into practice and putting you in a good position to carry out work for a financial institution. We therefore offer a programme that provides a balanced mixture of advanced mathematics (including modern probability theory and stochastic calculus), modern finance theory (including models for derivatives, interest rates, foreign exchange, equities, commodities, and credit), and computational technique (GPU-based high-performance computing).

The MSc in Financial Mathematics offers a range of exciting modules during the Autumn and the Spring terms, followed by an individual research project leading to a dissertation that is completed during the Summer term.

Aims

Financial mathematics is a challenging subject, the methods of which are deployed by sophisticated practitioners in financial markets on a daily basis. It builds on the application of advanced concepts in modern probability theory to enable market professionals to tackle and systematically resolve a huge range of issues in the areas of pricing, hedging, risk management, and market regulation. The main objective of the Brunel MSc in Financial Mathematics is to provide candidates with the knowledge they need to be able to enter into this exciting new area of applied mathematics and to position themselves for the opportunity to work in financial markets.

Among the main distinguishing features of our programme are the following:

We aim to teach the key ideas in financial asset pricing theory from a thoroughly modern perspective, using concepts and methods such as pricing kernels, market information filtrations, and martingale techniques, as opposed say to the more traditional but old-fashioned approach based on the historical development of the subject.

In our programme candidates are asked at each stage to undertake a critical re-examination of the hypotheses implicit in any financial model, with a view to gaining a clear grasp of both its strengths and its limitations.

The programme includes courses on high-performance computing that provide candidates with the techniques whereby financial models can be implemented.

Course Content

Programme structure

The programme offers five "compulsory" modules, taken by all candidates, along with a variety of elective modules from which students can pick and choose. There are lectures, examinations and coursework in eight modules altogether, including the five compulsory modules. Additionally, all students complete an individual research project on a selected topic in financial mathematics, leading to the submission of a dissertation.

Compulsory modules:

Probability and stochastics
Financial markets
Option pricing theory
Interest rate theory
Financial computing I

Elective Modules:

Portfolio theory
Information in finance with application to credit risk management
Mathematical theory of dynamic asset pricing
Financial computing II
Statistics for Finance
Financial Mathematics Dissertation

Special Features

The Department of Mathematics, home to its acclaimed research centre CARISMA, has a long tradition of research and software development, in collaboration with various industry partners, in the general area of risk management.

The Department is a member of the London Graduate School in Mathematical Finance, which is a consortium of mathematical finance groups of Birkbeck College, Brunel University London, Imperial College London, King’s College London, London School of Economics, and University College London. There is a strong interaction between the financial mathematics groups of these institutions in the greater London area, from which graduates can benefit. In particular there are a number of research seminars that take place regularly throughout the year which students are welcome to attend.

Assessment

Assessment is by a combination of coursework, examination, and dissertation. Examinations are held in May. The MSc degree is awarded if the student reaches the necessary overall standard on the taught part of the course and submits a dissertation that is judged to be of the required standard. Specifically, to qualify for the MSc degree, the student must: (a) take examinations in eight modules including the four compulsory modules, (b) attain the minimum grade profile (or better) required for a Masters degree and (c) submit a dissertation of the required standard. If a student does not achieve the requirements for the degree of MSc, they may, if eligible, be awarded a Postgraduate Diploma.

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This MSc provides an ideal foundation for graduates who wish to pursue a career as software engineers. Read more

This MSc provides an ideal foundation for graduates who wish to pursue a career as software engineers. The programme provides the opportunity to undertake a significant group software engineering project sponsored by a financial services company, allowing students to specialise in software systems engineering from a financial computing perspective.

About this degree

Students gain instruction in all aspects of software engineering needed for the development of large, complex, highly dynamic, distributed software-intensive systems. The programme covers requirements engineering, software design, validation and verification, tools for the development of software intensive systems, and provides instruction in financial information systems.

Students undertake modules to the value of 180 credits.

The programme consists of six core modules (90 credits), one optional module (15 credits), one elective module (15 credits) and a group project (60 credits).

Core modules

  • Financial Institutions and Markets (15 credits)
  • Professional Practice (15 credits)
  • Requirements Engineering and Software Architecture (15 credits)
  • Software Abstractions and Systems Integration (15 credits)
  • Tools and Environments (15 credits)
  • Validation and Verification (15 credits)

Optional modules

Students are required to select 15 credits from the Option group and 15 credits from the Elective group.

Option Group

  • Compliance, Risk and Regulation (15 credits)
  • Financial Market Modelling and Analysis (15 credits)

Elective Group

  • Complex Networks and Web (15 credits)
  • Computer Security I (15 credits)
  • Computer Security II (15 credits)
  • Distributed Systems and Security (15 credits)
  • Introduction to Logic, Semantics and Verification (15 credits)
  • Language Based Security (15 credits)
  • Malware (15 credits)
  • Modal Logic and Transition Systems (15 credits)
  • Multimedia Systems (15 credits)
  • Networked Systems (15 credits)
  • People and Security (15 credits)
  • Verification and Mechanised Proofs (15 credits)

Please note: the availability and delivery of modules may vary, based on your selected options.

Dissertation/report

All students participate in a group project, encompassing the full software development lifecycle and applying techniques learned, such as the technical skills of analysis, design and implementation.

Teaching and learning

The programme is delivered through a combination of lectures, written and laboratory exercises, and project work. Student performance is assessed through written exercises with modelling notations, laboratory exercises with tools and environments, unseen examination papers, and a significant, comprehensive group project.

Further information on modules and degree structure is available on the department website: Financial Systems Engineering MSc

Careers

This professionally oriented programme provides an ideal foundation for graduates who wish to pursue a career as a software architect or leader of software development organisations. It also provides an excellent introduction for those who want to pursue research in software systems engineering.

Graduates from UCL are keenly sought by the world's leading organisations, and many progress in their careers to secure senior and influential positions. UCL Computer Science graduates are particularly valued as a result of the department's international reputation, strong links with industry, and ideal location close to the City of London.

Graduates have found positions at global companies such as RBS and UBS.

Employability

There is, throughout the world, a strong demand for software engineers with solid foundations covering not only the programming aspects of software development, but also aspects related to requirements engineering, software architectures, system integration, and testing. Many surveys rank software engineering positions as among the best jobs in the world.

Following graduation, our students are generally hired as software engineers or software architects by large financial institutions, sometimes by institutions they have engaged with in the context of their MSc project.

Why study this degree at UCL?

UCL Computer Science is recognised as a world leader in teaching and research.

UCL received the highest percentage (96%) for quality of research in Computer Science and Informatics in the UK's most recent Research Excellence Framework (REF2014).

Our Master's programmes have some of the highest employment rates and starting salaries, with graduates entering a wide variety of industries from entertainment to finance.

We take an experimental approach to our subject and place a high value on our extensive range of industrial collaborations. In the recent past, students have worked on projects and coursework in collaboration with Microsoft, IBM, and financial institutions such as JP Morgan, Citigroup and BNP Paribas.

Accreditation

IET - Partial CEng (Further Learning). CITPFL - Accredited by BCS. CEng (partial fulfilment) - Accreditation by the BCS.

Research Excellence Framework (REF)

The Research Excellence Framework, or REF, is the system for assessing the quality of research in UK higher education institutions. The 2014 REF was carried out by the UK's higher education funding bodies, and the results used to allocate research funding from 2015/16.

The following REF score was awarded to the department: Computer Science

96% rated 4* (‘world-leading’) or 3* (‘internationally excellent’)

Learn more about the scope of UCL's research, and browse case studies, on our Research Impact website.



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This MSc aims to equip students with the skills of analysis and design necessary for employment as professional civil engineers, and give them a solid academic background for becoming chartered engineers. Read more

This MSc aims to equip students with the skills of analysis and design necessary for employment as professional civil engineers, and give them a solid academic background for becoming chartered engineers. The programme combines traditional lectures with group projects and an individual research project in the student's chosen specialist field. The Civil Engineering MSc at UCL now offers six additional routes.

About this degree

Students develop advanced knowledge of civil engineering and associated engineering and scientific disciplines (structure dynamics, sustainable building design, transport, fluids, geotechnics, water and drainage, environmental and coastal engineering, planning and construction). They gain awareness of the context in which engineering operates, in terms of design, construction and the environment, alongside transferable skills, which leads to careers in industry and research.

Students undertake modules to the value of 180 credits.

The programme consists of four core modules (60 credits), four optional modules (60 credits), and a research project (60 credits).

Core modules

  • Advanced Soil Mechanics
  • Advanced Structures
  • Roads and Underground Infrastructure
  • Project Management (Professional Development Module)

Optional modules

Students choose four from the following:

  • Advance Research Writing
  • Advanced Civil Engineering Materials
  • Advanced Soil Mechanics
  • Advanced Structural Analysis
  • Applied Building Information Modelling
  • Building Engineering Physics
  • Data analysis
  • Design and Analysis of Structural Systems
  • Engineering & International Development
  • Engineering Study of Rail Systems and Infrastructure
  • Environmental Systems
  • Financial Aspects of Project Engineering and Contracting
  • Finite Element Modelling and Numerical Methods
  • GIS Principles & Technology
  • Infrastructure business case
  • Introduction to Seismic Design of Structures
  • Natural and Environmental Disasters
  • Offshore and Coastal Engineering
  • Planning, Policies & Organization of the Railways within the UK
  • Principles & Practices of Surveying

Please note: combinations of different modules will be determined by timetable constraints.

Dissertation/report

All students undertake an independent research project, which culminates in a dissertation of approximately 12,000 words.

Teaching and learning

The programme is delivered through lectures, tutorials, seminars, laboratory classes and field trips. The design project includes collective and individual studio work, while the research project includes laboratory, computational or fieldwork depending on the nature of the project. Assessment is through examinations, coursework, project reports and the research project.

Further information on modules and degree structure is available on the department website: Civil Engineering MSc

Careers

There are excellent employment prospects for our graduates. Civil Engineering graduates are readily employed by consultancies, construction companies and government departments.

Why study this degree at UCL?

UCL Civil, Environmental & Geomatic Engineering is an energetic and exciting multidisciplinary department with a tradition of excellence in teaching and research, situated within the heart of London.

This MSc reflects the broad range of expertise available within the department and its strong links with the engineering industry and places emphasis on developing skills within a teamwork environment. The programme provides a clear route to a professional career in civil engineering.

In addition, students wishing to combine the general MSc in Civil Engineering can now apply to one of six specialist pathways in related disciplines (Seismic Design, Environmental Systems, GIS, Surveying, Integrated Design and Infrastructure Planning).

Accreditation

This degree is accredited, as a Technical MSc, as meeting the requirements for Further Learning for a Chartered Engineer (CEng) for candidates who have already acquired a partial CEng accredited undergraduate first degree. See http://www.jbm.org.uk for further information.

Research Excellence Framework (REF)

The Research Excellence Framework, or REF, is the system for assessing the quality of research in UK higher education institutions. The 2014 REF was carried out by the UK's higher education funding bodies, and the results used to allocate research funding from 2015/16.

The following REF score was awarded to the department: Civil, Environmental & Geomatic Engineering

60% rated 4* (‘world-leading’) or 3* (‘internationally excellent’)

Learn more about the scope of UCL's research, and browse case studies, on our Research Impact website.



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