MSc Quantitative Finance and Risk Management

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Programme description

Worldwide growth in the financial services sector has fuelled the demand for graduates with a sound understanding of generalist finance issues, combined with specialist skills in quantitative methodology and risk management.

The MSc Quantitative Finance and Risk Management (QFARM) builds on the School’s established strengths in economics and finance, and is closely aligned to our successful MSc Banking and Finance and MSc Finance programmes.

More specifically, the programme provides opportunities for students to develop relevant skills and a practical understanding of:

  • The behaviour of international financial markets;
  • The ability to analyse the strategies of financial market investors;
  • An understanding of the role of finance in a modern economy; and
  • An advanced understanding of empirical modelling techniques, specifically the MATLAB programming language.

Alongside an evaluative appreciation of the issues facing today’s global financial sector, students are encouraged to develop critical skills and awareness of contemporary debates around the operational efficiency of financial markets including:

  • The drawbacks of derivatives models;
  • The probability of derivatives increasing systematic risk;
  • The potential roots of the recent financial crisis and an understanding of the Basel regulations within this context; and
  • How quantitative modules stand up to back testing.

Who is the programme for?

The MSC QFARM is suited to those wanting to develop a career in the broad financial services sector, but is particularly relevant to those interested in pursuing a career as a quantitative analyst in the investment banking and risk management fields. Of particular note is the practical module on MATLAB, providing students with a detailed understanding of how this programming tool can be used for effective empirical modelling.

Professional skill development

On completing the programme students should be able to demonstrate practical skills and the ability to:

  • Deal with complex issues both systematically and analytically, and to use this analysis to make sound judgements;
  •  Deploy advanced analytical techniques in the areas of finance and risk management;
  • Critically assess the quality of the analytical data generated by these techniques, and to synthesise and present relevant data, conclusions and recommendations to both specialist and non-specialist audiences; and
  • Apply, with originality and creativity, the knowledge, skills and understanding gained on the programme to complex issues within finance and related industries.

Programme structure

The programme is modular in structure, comprising 180 credits, which are studied on a full-time basis over 12 months.

Compulsory modules (160 credits) include:

Optional modules (candidates select 20 credits from the list below):

Degree Programme Director profile

Professor Robert Hudson is the author of a book on stock market investment, over 40 refereed articles in leading international journals and a range of other publications and has presented at many universities and international conferences. He is a Fellow of the Institute of Actuaries and a Chartered Mathematician and has extensive business experience in financial services. Before entering the academic world he provided actuarial consulting services to a large number of companies of all sizes.  His main research interests are financial markets, the financial services industry -, particularly pensions and insurance - and the financial behaviour of individuals.

Entry requirements

Candidates are required to hold a minimum upper second class first degree (2:1) or overseas equivalent, with transcript evidence of mathematical education (A-Level standard or international equivalent).

Applicants whose first language is not English require IELTS 6.5 or equivalent, with no less than 6.0 in any element.  Pre-sessional courses in English language are provided by the University and successful completion of these may be a condition of entry.

Related Programme of Interest:

MSc Banking and Finance