University of Wales - Swansea
University of Wales Swansea
Stochastic Process, Theory and Applications, MRes
M.Res.-Stochastic Process, Theory and Applications
In the past decade the job market for mathematicians has undergone something of a revolution. Mathematicians have always been in demand, as teachers, accountants, actuaries, scientists and engineers.
However, there are now highly lucrative jobs for mathematicians in the financial markets – the City, Wall Street, Frankfurt and Tokyo. The reason for this revolution was the award in 1997 of the Nobel Prize for Economics to Scholes for his work in obtaining the Black-Scholes formula. This award recognises the primacy of advanced probability theory in pricing financial derivative products.
The MSc course in Mathematics and Computing for Finance has been designed to meet the growing demand for specifically trained academics to work in the world’s financial markets.
The mathematics part of the course covers such topics as stochastic calculus based on Brownian motion, Lévy processes, more general jump processes, the advanced Black-Scholes theory and parabolic partial differential equations. The computing training aims to give the students expertise in advanced IT skills such as Java programming, Mathematica and Internet systems. The students will be required to undertake a project on mathematics or computing and its applications in the above areas, so developing their communication and presentational skills.
Our degree schemes are supported by our research links. Mathematics and Computer Science are grade 5 departments.
We co-operate with other leading centres in the theory of mathematics for finance, for example Imperial College London, and MaPhySto in Denmark and we have very good contacts with world experts in the field.
Southern Association of Colleges and Schools Commission on Colleges