# Year 3 MMORSE Actuarial and Financial Mathematics Course Regulations

In This Section:

**Course Regulations**

Year 1 MORSE |

Year 2 MORSE |

Year 3 BSc MORSE |

Year 3 MMORSE |

Year 4 MMORSE |

Handbook Index

#### MORSE

Handbook Contents

#### 2.8 Year 3 MMORSE Actuarial and Financial Mathematics Course Regulations

**Objective:** To provide students with a sound theoretical and practical basis for careers and research in financial mathematics and to prepare students for an actuarial career.

**Syllabus:** This comprises three interlocking strands:

- Background knowledge on financial institutions and financial instruments.
- Construction and analysis of financial models - these models are predominantly stochastic so that the key techniques are probability, time series modelling and stochastic processes.
- Analysis of financial data: the key techniques are regression and linear models, multivariate data analysis, time series & forecasting, and risk analysis

###### Loading / Requirements

These requirements are **in addition** to the course regulations for all streams of MMORSE which must also be satisfied.

Students must take the core modules, **at least 15 CATS from List A **and **at least 30 CATS from List B**. In addition students must choose an appropriate number of modules from List A, List B, Optional Modules and Unusual Options to reach the minimum load.

###### Core

Module Code | Module Name | CATS | Term^{†} |
---|---|---|---|

ST318 | Probability Theory | 15 | 2 |

ST339 | Introduction to Mathematical Finance | 15 | 1 |

ST404 | Applied Statistical Modelling | 15 | 2 |

ST342 |
15 |
1 |

###### List A

Listed modules are subject to change from year to year and some modules may be subject to availability / module pre-registration.

Module Code | Module Name | CATS | Term^{†} |
---|---|---|---|

EC306 | Econometrics 2: Time Series | 15 | 2 |

EC338 | Econometrics 2: Microeconometrics | 15 | 1 |

IB352 | Applied Optimisation Methods | 15 | 2 |

IB3K2 | Financial Optimisation | 15 | 2 |

ST334 | Actuarial Methods | 15 | 1 |

ST335 | Finance and Financial Reporting | 15 | 1 |

ST338 | Actuarial Models | 15 | 2 |

ST345 | Life Contingencies | 15 | 2 |

###### List B

Listed modules are subject to change from year to year and some modules may be subject to availability / module pre-registration.

Module Code | Module Name | CATS | Term^{†} |
---|---|---|---|

ST301 | Bayesian Statistics and Decision Theory | 15 | 1 |

ST323 | Multivariate Statistics | 15 | 1 |

ST333 | Applied Stochastic Processes | 15 | 1 |

ST337 | Bayesian Forecasting and Intervention | 15 | 2 |

ST344 | Professional Practice of Data Analysis | 15 | 1 |

ST405 | Bayesian Forecasting and Intervention with Advanced Topics | 15 | 2 |

ST406 | Applied Stochastic Processes with Advanced Topics | 15 | 1 |

ST412 | Multivariate Statistics with Advanced Topics | 15 | 1 |

ST413 | Bayesian Statistics and Decision Theory with Advanced Topics | 15 | 1 |

^{†}The teaching term shown is for information only and does not form part of the official course regulations. Variations observed on the module pages and / or university timetable should be considered to be a more definitive source of information.

###### Optional Modules

Optional modules are subject to change from year to year and some modules may be subject to availability / module preregistration.

For students who entered before 20/21: Option modules that do not require an unusual option form are those listed in any stream of the third or fourth year of any MMORSE stream or in the third year of BSc MORSE.

For students who entered in or after 20/21: Option modules that do not require an unusual option form are those listed in any stream of the third year of any MMORSE stream or BSc MORSE.

An illustrative table of modules that may be listed in other MORSE streams / programmes is shown below.

This was taken at a single snapshot in time - it is not a definitive guide and students are required to check that these modules are still listed in other streams / programmes.

Module Code | Module Name | CATS | Term | Source |
---|---|---|---|---|

EC208 | Industrial Economics 1: Market Structure | 15 | 1 | G30B year 3, Y602 year 3 |

EC301 | Mathematical Economics | 15 | 2 | G30B year 3, G30B year 4, Y602 year 3 |

EC303 | The British Economy in the Twentieth Century (suspended in 19/20) | 15 | 1 | G30B year 3, Y602 year 3 |

EC304 | Making of Economic Policy | 30 | 1 & 2 | Y602 year 3 |

EC307 | Macroeconomic Policy in the EU | 15 | 2 | G30B year 3, Y602 year 3 |

EC310 | Topics in Development Economics | 15 | 2 | G30B year 3, Y602 year 3 |

EC312 | International Economics | 15 | 1 | G30B year 3, Y602 year 3 |

EC313 | The International Economy in the Twentieth Century | 15 | 2 | Y602 year 3 |

EC314 | Topics in Economic Theory | 15 | 2 | G30B year 3, G30B year 4, Y602 year 3 |

EC320 | Economics of Public Policy | 15 | 1 | Y602 year 3 |

EC326 | Industrial Economics 2: Strategy & Planning | 15 | 2 | Y602 year 3 |

EC331 | Research in Applied Economics | 30 | 1 & 2 | G30B year 3, Y602 year 3 |

EC333 | Topics in Financial Economics: Theories and International Finance | 15 | 1 | G30B year 3, G30B year 4, Y602 year 3 |

EC334 | Topics in Financial Economics: Corporate Finance and Markets | 15 | 2 | G30B year 3, G30B year 4, Y602 year 3 |

EC336 | International Trade | 15 | 2 | Y602 year 3 |

EC337 | Industrial Economics 2: Market Economics, Competition & Regulation | 15 | 1 | Y602 year 3 |

EC341 | Mathematical Economics 2: Mechanism Design and Alternative Games | 15 | 1 | G30B year 3, G30B year 4, Y602 year 3 |

EC901 | Economics Analysis (PG) | 44 | 1 | G30B year 4 |

EC9011 | Economic Analysis: Microeconometrics | 24 | 1 | G30B year 4 |

EC910 | Quantitative Methods: Econometrics B | 50 | 1 & 2 | G30B year 4 |

EC924 | Monetary Economics | 18 | 2 | G30B year 4 |

EC931 | International Trade | 18 | 2 | G30B year 4 |

EC941 | Game Theory | 18 | 2 | G30B year 4 |

EC943 | Industrial Economics | 18 | 2 | G30B year 4 |

IB209 | Marketing | 30 | 1 - 3 | Y602 year 3 |

IB253 | Principles of Finance 1 | 15 | 1 | Y602 year 3 |

IB254 | Principles of Finance 2 | 15 | 2 | Y602 year 3 |

IB320 | Simulation | 15 | 2 | G30C year 3, Y602 year 3 |

IB337 | Business Taxation | 15 | 1 | Y602 year 3 |

IB349 | Operational Research in Strategic Planning | 15 | 1 | G30C year 3, G30C year 4, Y602 year 3 |

IB359 | Derivatives and Risk Management | 15 | 2 | Y602 year 3 |

IB361 | Equality and Diversity | 15 | 1 | Y602 year 3 |

IB362 | Management and Human Resources | 15 | 1 | Y602 year 3 |

IB365 | Marketing Communications | 15 | 1 | Y602 year 3 |

IB368 | International Business Strategy | 15 | 2 | Y602 year 3 |

IB370 | Managing Strategy in the Digital Era | 15 | 2 | Y602 year 3 |

IB382 | Project Management | 15 | 1 | Y602 year 3 |

IB384 | Supply Chain Management | 15 | 1 | Y602 year 3 |

IB395 | Finance in New Ventures | 15 | 1 | Y602 year 3 |

IB396 | Financial Statement Analysis & Security | 15 | 2 | Y602 year 3 |

IB3A5 | Marketing Management | 15 | 1 | Y602 year 3 |

IB3A7 | The Practice of Operational Research | 15 | G30C year 3, G30C year 4, Y602 year 3 | |

IB3F0 | Auditing, Governance & Accountability | 15 | 2 | Y602 year 3 |

IB3J2 | Decision Making Under Uncertainty | 15 | 1 | G30C year 3, G30C year 4, Y602 year 3 |

IB3J3 | Mathematical Game Theory | 15 | 1 | G30C year 3, G30C year 4, Y602 year 3 |

IB408 | Operational Research in Strategic Planning with Advanced Topics | 15 | 1 | G30C year 4 |

IB410 | Mathematical Game Theory with Advanced Topics | 15 | 1 | G30C year 4 |

IB411 | Decision Making under Uncertainty with Advanced Topics | 15 | 1 | G30C year 4 |

IB9?? | Data Management (subject to availability) | 15 | G30C year 4 | |

IB9BQ | Pricing Analytics (unavailable from 20/21) | 15 | G30C year 4 | |

IB9BS | Supply Chain Analytics (unavailable from 20/21) | 15 | G30C year 4 | |

IB9BW | Analytics in Practice (unavailable from 20/21) | 15 | G30C year 4 | |

IE3E1 | Introduction to Secondary School Teaching | 24 | 2 | Y602 year 3 |

MA222 | Metric Spaces | 12 | 2 | G30D year 3, Y602 year 3 |

MA241 | Combinatorics | 12 | 1 | G30D year 3, Y602 year 3 |

MA243 | Geometry | 12 | 1 | G30D year 3, Y602 year 3 |

MA249 | Algebra II: Groups and Rings | 12 | 2 | G30D year 3, Y602 year 3 |

MA250 | Introduction to Partial Differential Equations | 12 | 2 | G30D year 3, Y602 year 3 |

MA251 | Algebra I: Advanced Linear Algebra | 12 | 1 | G30D year 3, Y602 year 3 |

MA252 | Combinatorial Optimization | 12 | 2 | G30D year 3, Y602 year 3 |

MA256 | Introduction to Systems Biology | 6 | 3 | G30D year 3, Y602 year 3 |

MA257 | Introduction to Number Theory | 12 | 2 | G30D year 3, Y602 year 3 |

MA258 | Mathematical Analysis III | 12 | 1 | G30D year 3, Y602 year 3 |

MA259 | Multivariable Calculus | 12 | 1 | G30D year 3, Y602 year 3 |

MA377 | Rings and Modules | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA390 | Topics in Mathematical Biology | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA398 | Matrix Analysis and Algorithms | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA3A6 | Algebraic Number Theory | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3B8 | Complex Analysis | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3D1 | Fluid Dynamics | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3D4 | Fractal Geometry (suspended for 19/20) | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3D5 | Galois Theory | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA3D9 | Geometry of Curves and Surfaces | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA3E1 | Groups and Representations | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3F1 | Introduction to Topology | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA3F2 | Knot Theory (suspended for 19/20) | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3G1 | Theory of PDEs | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3G6 | Commutative Algebra | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3G7 | Functional Analysis I | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA3G8 | Functional Analysis II | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3H0 | Numerical Analysis and PDEs | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3H2 | Markov Processes and Percolation Theory | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3H3 | Set Theory | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA3H5 | Manifolds | 15 | 1 | G30D year 3, G30D year 4 |

MA3H6 | Algebraic Topology | 15 | 2 | G30D year 3, G30D year 4 |

MA3H7 | Control Theory | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3J2 | Combinatorics II | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3J9 | Historical Challenges in Mathematics | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3K0 | High Dimensional Probability | 15 | 2 | G30D year 3, G30D year 4, Y602 year 3 |

MA3K1 | Mathematics of Machine Learning | 15 | 1 | G30D year 3, G30D year 4, Y602 year 3 |

MA424 | Dynamical Systems | 15 | 1 | G30D year 4 |

MA426 | Elliptic Curves | 15 | 2 | G30D year 4 |

MA427 | Ergodic Theory | 15 | 2 | G30D year 4 |

MA433 | Fourier Analysis | 15 | 1 | G30D year 4 |

MA453 | Lie Algebras | 15 | 2 | G30D year 4 |

MA475 | Riemann Surfaces | 15 | 2 | G30D year 4 |

MA482 | Stochastic Analysis | 15 | 2 | G30D year 4 |

MA4A2 | Advanced PDEs | 15 | 1 | G30D year 4 |

MA4A5 | Algebraic Geometry | 15 | 1 | G30D year 4 |

MA4A7 | Quantum Mechanics: Basic Principles and Probabilistic Methods | 15 | 2 | G30D year 4 |

MA4C0 | Differential Geometry | 15 | 1 | G30D year 4 |

MA4E0 | Lie Groups | 15 | 1 | G30D year 4 |

MA4E7 | Population Dynamics: Ecology and Epidemiology | 15 | 2 | G30D year 4 |

MA4H4 | Geometric Group Theory | 15 | 2 | G30D year 4 |

MA4H8 | Ring Theory | 15 | 1 | G30D year 4 |

MA4J0 | Advanced Real Analysis | 15 | 2 | G30D year 4 |

MA4J3 | Graph Theory | 15 | 1 | G30D year 4 |

MA4L2 | Statistical Mechanics | 15 | 2 | G30D year 4 |

ST305 | Designed Experiments | 15 | 2 | G30C year 4, G30D year 3, G30D year 4, Y602 year 3 |

ST313 | Third Year Essay / Project (suspended in 19/20) | 15 | Y602 year 3 | |

ST329 | Topics in Statistics | 15 | 2 | G30C year 4, G30D year 3, G30D year 4, Y602 year 3 |

ST332 | Medical Statistics | 15 | 2 | G30C year 4, G30D year 3, G30D year 4, Y602 year 3 |

ST340 | Programming for Data Science | 15 | 1 | G30C year 4, G30D year 3, G30D year 4, Y602 year 3 |

ST341 | Statistical Genetics | 15 | 2 | G30C year 4, G30D year 3, G30D year 4, Y602 year 3 |

ST343 | Topics in Data Science | 15 | 2 | G30C year 4, G30D year 3, G30D year 4, Y602 year 3 |

ST401 | Stochastic Methods in Finance | 15 | 1 | G30C year 4, G30D year 4 |

ST402 | Risk Theory | 15 | 2 | G30C year 4, G30D year 4 |

ST403 | Brownian Motion | 15 | 1 | G30C year 4, G30D year 4 |

ST407 | Monte Carlo Methods | 15 | 1 | G30C year 4, G30D year 4 |

ST409 | Medical Statistics with Advanced Topics | 15 | 2 | G30C year 4, G30D year 3, G30D year 4 |

ST410 | Designed Experiments with Advanced Topics | 15 | 2 | G30C year 4, G30D year 3, G30D year 4 |

ST411 | Dynamic Stochastic Control | 15 | 1 | G30C year 4, G30D year 4 |

ST414 | Advanced Topics in Statistics (suspended in 19/20) | 15 | 2 | G30C year 4, G30D year 4 |

ST417 | Topics in Applied Probability (suspended in 19/20) | 15 | 3 | G30C year 4, G30D year 4 |

ST418 | Statistical Genetics with Advanced Topics | 15 | 2 | G30C year 4, G30D year 3, G30D year 4 |

ST419 | Advanced Topics in Data Science | 15 | 2 | G30C year 4, G30D year 3, G30D year 4 |

ST420 | Statistical Learning and Big Data | 15 | 2 | G30C year 4, G30D year 4 |

ST906 | Financial Time Series | 15 | 2 | G30B year 4, G30C year 4, G30D year 4 |

ST909 | Continuous Time Finance for Interest Rate Models | 15 | 2 | G30B year 4, G30C year 4, G30D year 4 |

ST958 | Topics in Mathematical Finance | 15 | 2 | G30C year 4, G30D year 4 |