Programme Specifications

Financial Mathematics


1 : Awarding Institution / Body
Aberystwyth University

2a : Teaching Institution / University
Aberystwyth University

2b : Work-based learning (where appropriate)


Information provided by Department of Mathematics:



3a : Programme accredited by
Aberystwyth University

3b : Programme approved by
Aberystwyth University

4 : Final Award
Bachelor of Science

5 : Programme title
Financial Mathematics

6 : UCAS code
G1N3

7 : QAA Subject Benchmark


Information provided by Department of Mathematics:

Mathematics, Statistics and Operational Research.

8 : Date of publication


Information provided by Department of Mathematics:

September 2023

9 : Educational aims of the programme


Information provided by Department of Mathematics:

The educational aims of the programme are:

·         To provide students with knowledge and understanding in a range of topics in Mathematics, Statistics, Accounting and Finance.
·         To develop skills in the application of such knowledge and understanding to the solutions of problems in Mathematics, Statistics, Accounting and Finance.
·         To develop the ability to transfer subject-specific skills to a range of topics in Mathematics, Statistics, Accounting and Finance.
·         To provide students aiming for careers in finance with knowledge and skills in Mathematics and Finance particularly appropriate to such a career. 
·         To develop analytical reasoning skills, team-working skills, information technology skills and    other skills appropriate to a wide range of careers.



10 : Intended learning outcomes


Information provided by Department of Mathematics:

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

10.1 : Knowledge and understanding


Information provided by Department of Mathematics:

Knowledge and understanding

A1.           Of fundamental concepts and techniques of calculus, algebra, analysis and mathematical modelling, probability, statistics, financial and management accounting.
A2.           Of more advanced concepts in abstract algebra, real analysis, numerical mathematics, probability, statistics, accounting, economics and business law.
A3.           Of a selection of specialist topics in Mathematics, Statistics, Accounting and Finance.
A4.           Of software for the analysis of numerical data.
A5. Of sofeware for supporting presentations and producing reports.

Teaching, learning and assessment methods used to enable outcomes to be achieved and demonstrated:

Formal lectures (A1-A4), tutorials (A1-A3), examples classes (A1-A3), practical classes (A4 - A5), survey group meetings (A1 - A5), help-desk encounters (A1), student-initiated informal meetings with lecturers (A1-A4), coursework (A1-A4). Project consultations (A1-A5) for students who have chosen the appropriate module.

Assessment – unseen written examinations (A1-A3), open-book practical examinations (A1 - A4), coursework (A1-A4). Project/survey report/presentations (A1 - A5), if appropriate.



10.2 : Skills and other attributes


Information provided by Department of Mathematics:

10.2.1.      Intellectual skills

The ability to

B1.            Calculate and manipulate data obtained from, or related to, the bodies of knowledge studied.
B2.            Apply a range of concepts and principles in well-defined mathematical, statistical, accounting and financial contexts, showing judgement in the selection and application of tools and techniques.
B3.            Develop and evaluate logical arguments.
B4.            Abstract the essential elements of problems, formulate them in an appropriate context and obtain solutions by appropriate methods.

Teaching, learning and assessment methods used to enable outcomes to be achieved and demonstrated

Formal lectures, tutorials, examples classes, practical classes, revision workshops, help-desk encounters, student-initiated informal meetings with lecturers. Project consultations for students who have chosen the appropriate module. Skills B1-B4 are developed in all these learning situations.

Assessment – unseen written examinations, open-book practical examinations, coursework, project/survey report, if appropriate. Skills B1-B4 are assessed by all these assessment methods.

10.2.2.      Professional practical skills

The ability to

C1.            Present arguments and conclusions effectively and accurately.
C2.            Use computer software to analyse and interpret data.
C3. Use computer software to support presentations and produce reports.

Teaching, learning and assessment methods used to enable outcomes to be achieved and demonstrated

Formal lectures, tutorials, examples classes, practical classes, revision workshops, help-desk encounters, survey group meetings, student-initiated informal meetings with lecturers. Project consultations where students who have chosen the appropriate modules. Skill C1 is developed in all these learning situations, skills C2 - C3 in practical classes and the project module.

Assessment – unseen written examinations (C1), open-book practical examinations (C2), coursework (C1, C2). Project report/survey report(C1 - C3), if appropriate.  



10.3 : Transferable/Key skills


Information provided by Department of Mathematics:

The ability to

D1.           Apply general mathematical skills to the interpretation of numerical data.
D2.           Work as a member of a team.
D3.           Use information technology effectively to manage information.
D4.           Manage time and resources effectively.
D5.           Develop effective learning skills.
D6.           Be aware of the need to plan for employment and of need to develop various skills for such employment.
D7.           Work independently. 

Teaching, learning and assessment methods used to enable outcomes to be achieved and demonstrated

Skill D1 is developed in all learning environments in the Department of Mathematics and assessed by all assessment methods. Skill D2 is developed during practical classes. Skill D3 is developed primarily in practical classes and assessed by open-book examinations, coursework and survey report. Project consultations for students who have chosen the appropriate module. Skill D3 is also developed through the use of e-mail, which is a normal means of communication between staff and students. Skills D4 and D5 are developed in an induction course on study skills, in preparing set coursework and submitting it by given deadlines and in planning and executing a survey.  Skills D2, D4 and D5 are not explicitly assessed. Skill D6 is developed at meetings with Personal Tutors, at occasional recruitment meetings arranged for final-year student in the Department of Mathematics and in interactions with the Careers Advisory Service. Skills D4, D5 and D7 are developed by independent study for an optional project.



11 : Program Structures and requirements, levels, modules, credits and awards



BSC Financial Mathematics [G1N3]

Academic Year: 2023/2024Single Honours scheme - available from 2000/2001

Duration (studying Full-Time): 3 years

Part 1 Rules

Year 1 Core (120 Credits)

Compulsory module(s).

Semester 1
AB11120

Fundamentals of Accounting and Finance

MA10110

Coordinate and Vector Geometry

MA10310

Probability

MA10510

Algebra

MP10610

Calculus

Semester 2
AB11220

Accounting and Finance for Specialists

MA11110

Mathematical Analysis

MA11210

Differential Equations

MA11310

Statistics

MP11010

Further Algebra and Calculus

Part 2 Rules

Year 2 Core (100 Credits)

Compulsory module(s).

Semester 1
AB21200

Intermediate Management Accounting

AB21400

Corporate Finance and Financial Markets

MA25200

Introduction to Numerical Analysis and its applications

MA26010

Distributions and Estimation

MA26600

Applied Statistics

Semester 2
AB21220

Intermediate Management Accounting

AB21420

Corporate Finance and Financial Markets

MA21410

Linear Algebra

MA25220

Introduction to Numerical Analysis and its applications

MA26620

Applied Statistics

Year 2 Options

Choose 20 credits

Semester 1
MA20110

Real Analysis

MA20310

Introduction to Abstract Algebra

MT20110

Dadansoddiad Real

Semester 2
MA21510

Complex Analysis

MT21510

Dadansoddiad Cymhlyg

Final Year Core (40 Credits)

Compulsory module(s).

Semester 1
AB31300

Investments and Financial Instruments

MA37810

Stochastic Models in Finance

Semester 2
AB31320

Investments and Financial Instruments

MA37410

Probability and Stochastic Processes

Final Year Options

Choose 20 credits

Semester 1
MA30210

Norms and Differential Equations

MA34110

Partial Differential Equations

MA36510

Linear Statistical Models

MT30210

Normau a Hafaliadau Differol

MT34110

Hafaliadau Differol Rhannol

Semester 2
MA32410

Graphs and Networks

MA36010

Comparative Statistical Inference

MT32410

Graffiau a Rhwydweithiau

Final Year Options

Choose 20 credits

Semester 1
AB31100

Advanced Financial Accounting

AB31600

The Role and Practice of Auditing

Semester 2
AB31120

Advanced Financial Accounting

AB31620

The Role and Practice of Auditing

Final Year Electives

Choose 40 credits of level 3 modules subject to Timetable and approval by Degree Scheme Co-ordinator. These may include further MA/MT or AB/CB modules.


12 : Support for students and their learning
Every student is allocated a Personal Tutor. Personal Tutors have an important role within the overall framework for supporting students and their personal development at the University. The role is crucial in helping students to identify where they might find support, how and where to seek advice and how to approach support to maximise their student experience. Further support for students and their learning is provided by Information Services and Student Support and Careers Services.

13 : Entry Requirements
Details of entry requirements for the scheme can be found at http://courses.aber.ac.uk

14 : Methods for evaluating and improving the quality and standards of teaching and learning
All taught study schemes are subject to annual monitoring and periodic review, which provide the University with assurance that schemes are meeting their aims, and also identify areas of good practice and disseminate this information in order to enhance the provision.

15 : Regulation of Assessment
Academic Regulations are published as Appendix 2 of the Academic Quality Handbook: https://www.aber.ac.uk/en/aqro/handbook/app-2/.

15.1 : External Examiners
External Examiners fulfill an essential part of the University’s Quality Assurance. Annual reports by External Examiners are considered by Faculties and Academic Board at university level.

16 : Indicators of quality and standards
The Department Quality Audit questionnaire serves as a checklist about the current requirements of the University’s Academic Quality Handbook. The periodic Department Reviews provide an opportunity to evaluate the effectiveness of quality assurance processes and for the University to assure itself that management of quality and standards which are the responsibility of the University as a whole are being delivered successfully.