PhD Computational Finance

Program Overview

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We offer research supervision for our PhD Computational Finance in the following fields: agent-based modelling of financial markets; computational risk management; high-frequency finance; and the use of computational-intelligence methods for investment decision making. We provide a vibrant research environment so our PhD students publish papers in prestigious international conferences and often attract the attention of industry and government; one of our PhD students was recently invited to present their research on term structure models to the Bank of England and many others get the opportunity to directly apply their research through internships at investment banks and hedge funds. Our graduates have gone on to become quantitative analysts, portfolio managers and software engineers at various institutions, including major investment banks like HSBC and Mitsubishi UFJ Securities. You can start this degree in October, January or April, either full-time or part-time. We also offer an MPhil and MSD in this area. Why we're great.

• We have an international reputation for leading-edge, interdisciplinary work combining economic and financial modelling with computational implementation.
• Our research is geared towards practical applications, and many of our academic staff have experience of applying their findings in industry and in advising the UK government.
• We are supported by Essex’s highly rated Department of Economics, School of Computer Science and Electronic Engineering, and Essex Business School.

Our expert staff

Within our Centre for Computational Finance and Economic Agents (CCFEA), our PhD students are normally jointly supervised by academic staff in two of our constituent departments, in order to give you an interdisciplinary perspective to your topic of research.

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Specialist facilities

CCFEA is based within our School of Computer Science and Electronic Engineering. Our School provides twelve laboratories exclusively for computer science and electronic engineering students. Three of our software labs are open for 24 hours a day including weekends and you have free access to the labs except when there is a scheduled practical class in progress. Our labs are managed by an experienced and dedicated team of technical support staff who can assist you - for example, advising on how to overcome programming problems. Students also have access to our Bloomberg virtual trading floor in the Essex Business School.

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Your future

Graduates of our Centre have gone on to become quantitative analysts, portfolio managers and software engineers at various institutions, including major investment banks like HSBC and Mitsubishi UFJ Securities. We have an extensive network of industrial contacts through our City Associates Board and our alumni, while our expert seminar series gives you the opportunity to work with leading figures from industry. A number of our students have held internships with prestigious City institutions, such as HSBC, Old Mutual and the Bank of England.

Program Outline

Course structure

A research degree doesn't have a taught structure, giving you the chance to investigate your chosen topic in real depth and reach a profound understanding. In communicating that understanding, through a thesis or other means, you have a rare opportunity to generate knowledge. A research degree allows you to develop new high-level skills, enhance your professional development and build new networks. It can open doors to many careers. 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 This module is for PhD students who are completing the research portions of their theses. View Computational Finance and Economic Agents - Research on our Module Directory

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Assessment

The aim of undertaking your PhD within CCFEA is to become trained as am independent researcher who can critically assess other research work, and have a comprehensive knowledge of their subject area. Our PhD programme is usually three to four years duration and all our students are initially registered as Mphil/PhD students, then transferred to the PhD in the first half of their second year of study if they have made satisfactory progress. In your second and third years, you work towards your PhD.

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Dissertation

Within CCFEA, your PhD thesis is generally completed within three to four years and has a length of around 80,000 words. Your PhD is awarded after your successful defence of your thesis in an oral examination, in which you are interviewed about your research by two examiners, at least one of whom is from outside Essex.