BSc Finance and Mathematics

Program Overview

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Through developing expert abilities in mathematics and discovering how these can be applied to financial situations, you will improve your capacity to make successful financial decisions and understand how you can turn risk into opportunity. Our BSc Finance and Mathematics course offers you modules in mathematics, accounting, economics and actuarial science. Our business-focused course equips you with the knowledge and skills that are in demand by employers, and in particular in financial markets or corporate careers that involve financial decision-making and problem-solving. You gain a thorough grounding in both finance and mathematics, investigating topics including:

• Corporate finance
• Portfolio management
• Applying mathematical, statistical and probabilistic techniques
• Programming and computation in languages such as Matlab and R
• Micro- and macro-economics

As part of our Department of Mathematical Sciences , you’re a member of an inclusive and approachable research community which allows you to explore topics in pure, high-level mathematics and applied mathematics. Why we're great.

• 85% of our Department of Mathematical Sciences graduates are in employment or further study (Graduate Outcomes 2023).
• As well as being world-class academics and researchers, we are award-winning lecturers.
• We are continually broadening the array of expertise in our department, giving you a wide range of options and letting you tailor your degree to your interests.

Study abroad

Your education extends beyond the university campus. We support you in expanding your education through offering the opportunity to spend a year or a term studying abroad at one of our partner universities. The four-year version of our degree allows you to spend the third year abroad or employed on a placement abroad, while otherwise remaining identical to the three-year course. Studying abroad allows you to experience other cultures and languages, to broaden your degree socially and academically, and to demonstrate to employers that you are mature, adaptable, and organised. If you spend a full year abroad you'll only pay 15% of your usual tuition fee to Essex for that year. You won't pay any tuition fees to your host university

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Placement year

Alternatively, you can spend your third year with an external organisation, learning about a particular sector, company or job role, applying your academic knowledge in a practical working environment, and receiving inspiration for future career pathways. You will be responsible for finding your placement, but with support and guidance provided by both your department and the placements team. If you complete a placement year you'll only pay 20% of your usual tuition fee to Essex for that year.

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Our expert staff

As well as being world-class academics, our mathematics staff are award-winning teachers. Many of our staff have won national or regional awards for lecturing, and many of them are qualified and accredited teachers – something which is very rare at a university. Our department is committed to providing you with the academic support you need to succeed. Our flexible policy means some staff are always available, whilst others maintain regular drop-in times. Staff are always happy to arrange appointments for longer discussions, and no issue is too big or too small. Our innovative research groups are working on a broad range of collaborative areas tackling real-world issues. Here are a few examples:

• Our data scientists carefully consider how not to lie, and how not to get lied to with data. Interpreting data correctly is especially important because much of our data science research is applied directly or indirectly to social policies, including health, care and education.
• We do practical research with financial data (for example, assessing the risk of collapse of the UK’s banking system) as well as theoretical research in financial instruments such as insurance policies or asset portfolios.
• We also research how physical processes develop in time and space. Applications of this range from modelling epilepsy to modelling electronic cables.
• Our optimisation experts work out how to do the same job with less resource, or how to do more with the same resource.
• Our pure maths group are currently working on two new funded projects entitled ‘Machine learning for recognising tangled 3D objects’ and ‘Searching for gems in the landscape of cyclically presented groups’.
• We also do research into mathematical education and use exciting technologies such as electroencephalography or eye tracking to measure exactly what a learner is feeling. Our research aims to encourage the implementation of ‘the four Cs’ of modern education, which are critical thinking, communication, collaboration, and creativity.

Our Essex Business School staff specialise in areas including: accounting and economic development in the public and third sectors; regulation and corporate social responsibility; finance and banking; accounting and finance in developing economies; and contemporary financial markets and their participants.

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Specialist facilities

Take advantage of our extensive learning resources to assist you in your studies:

• We have a Maths Support Centre , which offers help to students on a range of mathematical problems. Throughout term-time, we can chat through mathematical problems either on a one-to-one or small group basis
• We have a dedicated social and study space for maths students in the department, which is situated in the STEM Centre

You also have access to our landmark new Essex Business School building , the first zero-carbon business school in the UK. Set around a lush winter garden, the Eden-style dome will give the building its own micro-climate. Our new building provides you with a stunning new work environment, offering:

• A virtual trading floor with Bloomberg Terminals offering direct use of Bloomberg data, information and analytics
• A light and spacious lecture theatre, with seating for 250 students
• Study pods and innovation booths for group working
• Dedicated office space for student entrepreneurs
• Networking opportunities with visiting businesses
• A café with an adjacent sun terrace

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Your future

Clear thinkers are required in every profession, so the successful mathematician has an extensive choice of potential careers. Our graduates are highly employable in a wide range of places, working in business, pharmaceutical industries, banking and computing among others. The Council for Mathematical Sciences offers further information on careers in mathematics. Recent graduates from our BSc Finance and Mathematics have found employment as:

• Chartered accountants
• Investment consultants
• Accounts technicians
• Stock lending analysts

We also work with our University's Student Development Team to help you find out about further work experience, internships, placements, and voluntary opportunities. “I love the variety of work I complete in my current role as a Data and Systems Analyst. I work for a start-up company called Oddbox, which has 25 employees, so it is very hands-on and because of this I receive exposure to all aspects of how the business works. My job requires a very logical and analytical mindset, so these are two of the most useful skills I gained at Essex. My current role also requires a lot of investigative and problem-solving skills as I often have to look into issues employees are having with systems or spreadsheets and resolve them.” Emily Raftery, BSc Mathematics, 2015

Program Outline

Course structure

Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field. The following modules are based on the current course structure and may change in response to new curriculum developments and innovation. We understand that deciding where and what to study is a very important decision for you. We’ll make all reasonable efforts to provide you with the courses, services and facilities as described on our website. However, if we need to make material changes, for example due to significant disruption, or in response to COVID-19, we’ll let our applicants and students know as soon as possible.

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Components

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose. Each component has a status and carries a certain number of credits towards your qualification.

Status	What this means
Core	You must take the set module for this component and you must pass. No failure can be permitted.
Core with Options	You can choose which module to study from the available options for this component but you must pass. No failure can be permitted.
Compulsory	You must take the set module for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Compulsory with Options	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Optional	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

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Modules

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits. In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available. Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code . For example, the module code HR100-4-FY means:

HR	100	4	FY
The department or school the module will be taught by. In this example, the module would be taught by the Department of History.	The module number.	The UK academic level of the module. A standard undergraduate course will comprise of level 4, 5 and 6 modules - increasing as you progress through the course. A standard postgraduate taught course will comprise of level 7 modules. A postgraduate research degree is a level 8 qualification.	The term the module will be taught in. AU : Autumn term SP : Spring term SU : Summer term FY : Full year AP : Autumn and Spring terms PS: Spring and Summer terms AS: Autumn and Summer terms

Year 1 Year 2 Final Year Introduction to Finance is designed to give you an introduction to the wider finance subject area ass well as firm foundation for further studies in finance. You’ll gain a overview of the financial system, instruments and markets, and ideas about finance concepts and problems. The topics covered include investment companies, return and risk, and behavioural finance. You’ll develop and be able to transmit knowledge about the financial system, instruments and markets and ideas about finance concepts and problems at an introductory level; be aware of, at an introductory level, different ways of thinking about and analysing financial phenomena; and, reflecting the principles of how we approach Finance at Essex Business School, you’ll gain an appreciation of the role that finance plays in society as whole. View Introduction to Finance on our Module Directory How do consumers make decisions? Or firms conduct different market strategies? What impact does government policy have on inflation? Or unemployment? Develop your knowledge of economics in relation to a range of contemporary issues. Learn how to apply both micro and macroeconomic principles to the analysis of such problems. View Introduction to Economics on our Module Directory This module will allow you to build your knowledge of differentiation and integration, how you can solve first and second order differential equations, Taylor Series and more. View Calculus on our Module Directory How do you apply the addition rule of probability? Or construct appropriate diagrams to illustrate data sets? Learn the basics of probability (combinatorial analysis and axioms of probability), conditional probability and independence, and probability distributions. Understand how to handle data using descriptive statistics and gain experience of R software. View Statistics I on our Module Directory You'll be introduced to a range of important concepts which are used in all areas of mathematics and statistics. This module is structured in such a way that during learning sessions you'll develop good practical understanding of these concepts via discussion and exercises, and have an opportunity to ask questions. Theory is introduced via recorded videos and the corresponding notes published on Moodle, and also via recommendations of textbooks. The contact hours are dedicated to interactive activities such as lab exercises and flipped lecture quizzes; also you will have some additional formative tests in Moodle. View Matrices and Complex Numbers on our Module Directory This module introduces you to programming skills in the context of a range of mathematical modelling topics. Mathematical modelling skills will be an important focus alongside learning how to structure and implement codes in both Matlab and R. A key part of the module will be investigative open-ended computational modelling studies at both the group and individual level. View Mathematical and Computational Modelling on our Module Directory What skills do you need to succeed during your studies? And what about after university? How will you realise your career goals? Develop your transferable skills and experiences to create your personal profile. Reflect on and plan your ongoing personal development, with guidance from your personal advisor within the department. View Mathematics Careers and Employability on our Module Directory Would you play the lottery? Should you buy smartphone insurance? When are car insurance premiums too expensive? This module further examines key concepts in modern finance theory and explores how they help to make better investment decisions. You explore probability concepts and learn how they are used to describe the risks and consequences of financial decisions. You explore how individuals decide whether risks are worth taking and how investment companies use software to minimise financial risks and maximise rewards. You explore important concepts used by investment banks and fund managers, including mean-variance analysis, net present value and pricing models. View Quantitative Foundations of Finance on our Module Directory Explore how financial theory can aid financial decision-making in corporations. You discover how to apply the value maximization principle to corporate decisions, such as investment decision, borrowing decisions, and dividend decisions. View Corporate Finance on our Module Directory What is the appropriate measure of risk for a particular security? How might an investor decide on the weightings of different assets in his/her portfolio? How can we identify mispriced stocks? Should you invest your savings in an actively managed fund or in a passive fund? You consider the main theories of risk and return and explore the implications of these theories for investors' decisions. View Portfolio Analysis on our Module Directory How do consumers behave in a competitive market? And what about producers? How do various imperfections affect the outcome of decentralised markets? Study the fundamental concepts and methods in microeconomics. Understand the tools and methods of analysis for economic reasoning, and develop your critical approach to economic issues and policies. View Microeconomics (Intermediate) on our Module Directory The subject of ordinary differential equations is a very important branch of Applied Mathematics. Many phenomena from Physics, Biology, Engineering, Chemistry, Finance, among others, may be described using ordinary differential equations. To understand the underlying processes, we have to find and interpret the solutions to these equations. The last part of the module is devoted to the study of nonlinear differential equations and stability. This module provides an overview of standard methods for solving single ordinary differential equations and systems of ordinary differential equations, with an introduction to the underlying theory. View Ordinary Differential Equations on our Module Directory In this module you'll be introduced to the basics of probability and random variables. Topics you will discuss include distribution theory, estimation and Maximum Likelihood estimators, hypothesis testing, basic linear regression and multiple linear regression implemented in R. View Statistics II on our Module Directory What are the principles of actuarial modelling? And what are survival models? Examine how calculations in clinical trials, pensions, and life and health insurance require reliable estimates of transition intensities/survival rates. Learn how to estimate these intensities. Build your understanding of estimation procedures for lifetime distributions. View Survival Analysis on our Module Directory What skills do you need to succeed during your studies? And what about after university? How will you realise your career goals? Develop your transferable skills and experiences to create your personal profile. Reflect on and plan your ongoing personal development, with guidance from your personal advisor within the department. View Mathematics Careers and Employability on our Module Directory Investigate the theoretical foundations of some widely used pricing models for securities traded in financial markets – equities, options and bonds. You gain an understanding of the theoretical foundations of these models so that you can appreciate both the usefulness and/or the weakness of these models. View The Pricing of Securities in Financial Markets on our Module Directory How do you formulate financial decision problems mathematically? And how do you identify an appropriate method of solution? Understand the basic models and mathematical methods underlying modern portfolio management. Assess the limitations of these models and learn to correctly interpret your results from calculations. View Mathematics of Portfolios on our Module Directory COMPONENT 03: COMPULSORY WITH OPTIONS MA829-6-AU or MA830-6-SP (15 CREDITS) COMPONENT 04: OPTIOL Maths option(s) from list (30 CREDITS) COMPONENT 05: OPTIOL EC371-6-AU or EBS option from list (15 CREDITS) COMPONENT 06: OPTIOL EC372-6-SP or EBS option from list (15 CREDITS) COMPONENT 07: OPTIOL EBS option from list (15 CREDITS) What skills do you need to succeed during your studies? And what about after university? How will you realise your career goals? Develop your transferable skills and experiences to create your personal profile. Reflect on and plan your ongoing personal development, with guidance from your personal advisor within the department. View Mathematics Careers and Employability on our Module Directory

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Year abroad

On your year abroad, you have the opportunity to experience other cultures and languages, to broaden your degree socially and academically, and to demonstrate to employers that you are mature, adaptable, and organised. The rest of your course remains identical to the three-year degree.

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Teaching

• Teaching mainly takes the form of lectures – you study roughly two 50-minute lectures and one 50-minute class per week, per module
• Take a mathematics careers and employability module, where you compile a portfolio of skills and experience
• Modules delivered by experts in the field as well as guest speakers
• Contribute and interact in lectures through the use of smart technology

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Assessment

• Your final mark is a weighted combination of marks gained on coursework (eg homework problem sheets or tests) and your summer examinations
• Assessed through traditional methods of end-of-year exams and multiple choice questions in class tests and essays
• Plus more innovative and creative assessments include laboratory work, poster presentations, real-business case problems and group presentations
• Your first year of study does not count towards your final degree class
• Third-year students have the opportunity to complete a full-year or one-term project