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MSc Quantitative Finance: Financial Engineering

Course Description

This specialist course gives you a thorough understanding of the full range of quantitative methods needed for financial decision making, and allows you to follow one of two expert pathways in either financial engineering or risk management.

You learn to forecast and manage risk and return, price any financial instrument and engineer new methods and financial products. You also gain advanced knowledge of the main theoretical and applied concepts in quantitative finance, financial engineering and risk management, using current issues to stimulate your thinking.

If your career aspirations involve the design and management of new financial instruments as well as the development of innovative methods for measuring, predicting and managing risk, this course is for you.

Course structure
(All taught course units are 15 credits)

Semester 1
• Derivative Securities
• Foundations of Finance Theory
• Stochastic Calculus
• Scientific Computing

Semester 2
• Financial Econometrics
• Computational Finance
• Interest Rate Derivatives

One elective unit from:
• Credit Risk Management
• Real Options in Corporate Finance

Summer research period
Research dissertation [60 credits]

The dissertation is an integral part of the course. It gives you the opportunity to apply what you
have learned in the taught part of the course. Our topics are aligned with the research interests of leading financial institutions from the City of London and internationally. Students who want to work on an industry-linked topic for their dissertation are subject to certain strict selection criteria (for example, quality of research proposal, strong CV and first semester exam performance).

Examples of recent dissertation projects include:
• Approximation of CVA/DVA/FVA
• FVA and MM – quantitative analysis/illustration
• Continuous rainbow options on commodity outputs
• Investigating dynamics and determinants of risk-neutral PDs
• Using hazard models to forecast corporate bankruptcy
• Analysing asset pricing implications from real options models

Visit the MSc Quantitative Finance: Financial Engineering page on the University of Manchester website for more details!

Entry Requirements

2:1, finance, economatics, engineering, actuarial science, physics or another related degree, and have taken or be taking a number of quantitative modules. TOEFL/IELTS may be required for non-UK students. Apply now! You can submit your application before you graduate.

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