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BAFinance, Mathematics & Statistics

Why this course?

This joint degree is offered in partnership with the Department of Mathematics & Statistics.

You’ll develop mathematical and statistical expertise at the same time as increasing your skills in the largest business school in Scotland. There’s strong emphasis on statistical techniques in data analysis and on the use of mathematical models.

Employers in the financial sector look for graduates who have experience using mathematical models, as well as a financial background. This course provides a good basis for entering the actuarial profession.

Create your own course

Modern business is too complex to be covered by a single subject: modern managers need to have a broad outlook.

You choose basic classes in business and other disciplines, alongside the Business School’s Management Development Programme. You’ll study a wide variety of subjects and create a curriculum to suit your interests and needs.

You also have the opportunity to try new subjects, some of which you won’t have experienced at school or college. At the beginning of Year 2, you choose two subjects to continue studying in Years 2 and 3. You’ll also select a third, ‘minor’ subject and take further Management Development skills classes.

Apply under the general UCAS entry code N100 if you’d prefer to discuss your subject choices once you arrive. To study accounting, apply under N400 or one of the other accounting codes listed on the site.

What you’ll study

Each year contains compulsory classes and some years contain either optional classes in different areas of mathematics, and/or elective classes from other subject areas in the University.

Mathematics and statistics account for at least half of each course, with the remainder devoted to finance. You’ll be able to choose the particular areas of finance, mathematics or statistics you want to specialise in.

Years 1 & 2

In addition to the study of core mathematical methods, you’ll study applied analysis, mechanics, numerical analysis and statistics.

Years 3 & 4

You can choose from a range of mathematics and statistics classes from one or more of the specialist application areas.

The Honours-year project may be in finance, mathematics or statistics.

Maths & Stats

Topics offered in maths Honours-year classes include:

  • Dynamical Systems and Chaos Theory
  • The Mathematics of Finance and Mathematical Modelling in Biology and Medicine

Finance

Finance options include:

  • Business Finance
  • Financial Markets
  • Portfolio Theory
  • Security Analysis
  • Treasury Management

Course content

Year 1

Management Development Programme 1

Topics

First Year aims to help you make the transition to the university context. Semester 1 is the Thematic Semester: The World of Business Today and covers topics such as:

  • Social-Ethical-Environmental Governance (SEEG)
  • Business Ethics
  • Disruptive Technologies

Semester 2: Functional Semester: Organisations Today covers topics such as:

  • Creativity & Responsibility
  • Marketing & Sustainability across Domains

Class description

The first year of the programme is centred on the construction of knowledge in classroom setting with theoretical constructs developed. For each topic we’ve recorded a video by a Strathclyde academic who is a leading expert in the field.

You’ll watch these lectures in advance of each session and complete a pre-sessional activity. The pre-sessional work then forms the basis of team based activities work in the classroom (groups of 50 and teams of six-seven) where you develop an agreed understanding of the topic and present this to the group.

The feedback gained from this activity then feeds directly into the assessment for the block. You’ll complete 16 assignments in the two semesters of the class.

Finance

Course summary

Students will receive an introduction to:

  • finance and accounting, which covers the basic principles of investment and value
  • the valuation of bonds and shares
  • investment decisions in business companies
  • accounting methods

Mathematics & Statistics

Introduction to Calculus
You'll study the basic concepts and standard methods of mathematical notation and proof, polynomial equations and inequalities, sequences and series, functions, limits and continuity, differentiation and integration.
Applications of Calculus

The fundamental concepts of calculus (differentiation and integration) presented in Applications of Calculus will be examined in more detail, extended to a larger class of functions by means of more sophisticated methods, including an introduction to complex numbers and variables, all demonstrated in application to practical problems including solving basic first and second-order differential equations.  

Year 2

Management Development Programme 2

Topics

Semester 1 topics include:

  • Working in Business Organisations
  • Working Business Research & Consultancy
  • Working Internationally
  • Working in the Third Sector
  • Rhetorics & Oratory

Semester 2 is about developing the proposal of MDP3; with a presentation and a final report.

Class description

The second year concentrates on developing understanding through industry-specific contextualisation. Sessions are weekly and three hours in length.

The sessions are thematically linked to the pathways for individualised experience in third year whilst also drawing on the theoretical knowledge developed in MDP 1. In order to develop understanding, organisations will deliver a half-day session. This consists of a one hour plenary introduction where the company and case study are introduced. This is followed by the group sessions where you undertake activities in relation to the case study set by the company.

Finance

Course summary

Second year classes cover:

  • investment and financial decision-making and policies in business
  • risk and return and the pricing of company shares
  • portfolio selection and the efficiency of financial markets
  • the valuation of bonds and bond portfolio management
  • equity trading strategies
  • statistical and spreadsheet methods of analysing financial problems and strategies

Mathematics & Statistics

Linear Algebra & Differential Equations

This class will introduce you to the basic ideas of linear algebra, such as matrices and determinants, vector spaces, bases, eigenvalues and eigenvectors. You'll study various standard methods for solving ordinary differential equations and understand their relevance.

Probability & Statistical Inference

Presentation of the basic concepts of probability theory and statistical inference will be covered to provide you with the tools to appropriately analyse a given data set and effectively communicate the results of such analysis.

Mathematical & Statistical Computing

This class will introduce you to the R computing environment. It'll enable you to use R to import data and perform statistical tests, allow you to understand the concept of an algorithm and what makes a good algorithm and will equip you for implementing simple algorithms in R.

Year 3

Management Development Programme 3

The third year of centres on individualised experience in an organisational context through one of the following pathways:

  • Internship/Charities - gain practical experience in a private or third sector organisation. You need to negotiate and locate your own organisation and experience – this is one of the key learning points of the pathway.
  • Research and consultancy - a facility for local small businesses to gain from the experience and expertise of those within SBS. You work on two live business consultancy projects (one in each semester) and, as a team of 6, develop solutions and strategic initiatives for the local SME economy.
  • International experience – only available for students who are undertaking an international exchange for either one semester or full year.
  • Vertically Integrated Projects - working on a cross-faculty basis to research longitudinal projects (including the ‘Bill Gates Toilet Challenge, Solar Panels for Gambia and Enterprise in Schools) you work with a team of students from all levels of study (first year undergraduate to final year PhD) to further the work of the project.

In addition, you’re required to undertake a social responsibility element (this accounts for one quarter of the overall workload).

These have been designed to provide support to the Curriculum for Excellence and the Widening Access to Higher Education programme. There are no formal classes for MDP3 although there is pathway support with the pathway leads and tutor support.

Finance

Course summary

Areas covered in third year classes include:

  • advanced corporate finance and financial markets issues
  • valuation of derivatives, such as options and futures and swaps
  • the operations of derivatives markets
  • hedging strategies
  • treasury and international financial risk management in business

Advanced methods of empirical analysis, such as event studies, and access to historic and live data are also included.

Mathematics & Statistics

Differential Equations

We'll introduce you to analytical methods for solving ordinary and partial differential equations so you'll develop an understanding along with technical skills in this area.

Inference & Regression Modelling

This class will:

  • review the concepts of probability distributions and how to work with these
  • present approaches to parameter estimation, focusing on maximum likelihood estimation, bootstrap estimation, and properties of estimators
  • present hypothesis testing procedures, including classical likelihood ratio tests and computer-based methods for testing parameter values, and goodness-of-fit tests.
  • introduce and provide understanding of the least squares multiple regression model, general linear model, transformations and variable selection procedures
  • present use of R functions for regression and interpretation of R output
Optional classes
Complex Variables & Integral Transforms

This class will introduce functions of a complex variable, define concepts such as continuity, differentiability, analyticity, line integration, singular points, etc. It'll examine some important properties of such functions, and consider some applications of them, eg conformal mappings, and the evaluation of real integrals using the Residue Theorem. It'll also introduce you to Fourier and Laplace transform methods for solving linear ordinary differential equations and convolution type integral equations.

Linear Algebra

Here we'll introduce basic algebraic structures, with particular emphasis on those pertaining to finite dimensional linear spaces and deepen your understanding of linear mappings. We'll also provide an introduction to inner product spaces and bilinear forms.

Numerical Analysis

This module will motivate the need for numerical algorithms to approximate the solution of problems that can't be solved with pen and paper. It'll develop your skills in performing detailed analysis of the performance of numerical methods and will continue to develop your skills in the implementation of numerical algorithms using R.

Stochastics & Financial Econometrics

You'll be introduced to the basic concepts of random phenomena evolving in time, from two complementary points of view: probabilistic modelling and data-driven analysis. Presentation of underlying ideas of simple stochastic processes, time series models, and the associated probability theory and statistical techniques will be covered. In addition to applications of the methods to financial and economic systems, including modelling, data analysis, and forecasting.

Year 4

Finance

Course summary

You can either specialise in Finance as a Single Honours subject or continue to a Joint Honours degree in Finance and your other principal subject. In order to gain entry to Honours year, you must meet specified performance criteria in Years 2 and 3.

Students taking Single Honours in Finance will do a research dissertation in Finance, while Joint Honours students typically have the choice of doing their dissertation in either Finance or their other subject. Honours classes cover advanced topics in the following areas:

  • corporate investment
  • corporate financing
  • asset pricing
  • portfolio analysis
  • derivatives
  • international financial management
  • behavioural finance
  • international corporate governance
  • financial quantitative methods

Mathematics & Statistics

Communicating Mathematics & Statistics

This class provides you with experience of the skills required to undertake project work, and to communicate the findings in written and oral form using a variety of sources, such as books, journals and the internet.

Optional classes
Modelling & Simulation with Applications to Financial Derivatives

Here you'll get an introduction to ideas in mathematics and statistics that can be used to model real systems, with an emphasis on the valuation of financial derivatives. This module places equal emphasis on deterministic analysis (calculus, differential equations) and stochastic analysis (Brownian motion, birth and death processes). In both cases, in addition to theoretical analysis, appropriate computational algorithms are introduced. The first half of the class introduces general modelling and simulation tools, and the second half focuses on the specific application of valuing financial derivatives, including the celebrated Black-Scholes theory.

Statistical Modelling & Analysis

This class will provide you with a range of applied statistical techniques that can be used in professional life.

Applied Statistics in Society

You'll be introduced to a range of modern statistical methods and practices used in industry, commerce and research, and will develop skills in your application and presentation.

Applicable Analysis 3

This class will present the main results in Functional Analysis, give an introduction to linear operators on Banach and Hilbert spaces and study applications to integral and differential equations.

Fluids & Waves

You'll be introduced to the theory of Newtonian fluids and its application to flow problems and the dynamics of waves on water and in other contexts.

Finite Element Methods for Boundary Value Problems & Approximation

You'll be presented with the basic theory and practice of finite element methods and polynomial and piecewise polynomial approximation theory.

Mathematical Biology & Marine Population Modelling

Here you'll learn the application of mathematical models to a variety of problems in biology, medicine, and ecology. It'll show the application of ordinary differential equations to simple biological and medical problems, the use of mathematical modelling in biochemical reactions, the application of partial differential equations in describing spatial processes such as cancer growth and pattern formation in embryonic development, and the use of delay-differential equations in physiological processes. The marine population modelling element will introduce the use of difference models to represent population processes through applications to fisheries, and the use of coupled ODE system to represent ecosystems. Practical work will include example class case studies that will explore a real-world application of an ecosystem model.

Elasticity & Complex Materials

We'll introduce you to general continuum theory with applications to Newtonian and non-Newtonian fluids and elastic materials.

Optimisation: Theory & Practice

We'll provide you with a basic mathematical understanding of modern approaches to optimisation and the calculus of variations.

Statistical Mechanics

Here you'll develop approaches to understanding complex or random systems in or out of equilibrium, based on ideas from statistical mechanics that incorporate familiar concepts and methods from neighbouring subjects like classical mechanics and probability and statistics.

You'll also be able to describe, through various examples and techniques, how macroscopic properties of systems arise from the ensemble action of many microscopic ingredients, and, specifically, how deterministic 'laws' may arise from basic randomness of a system with many variables or degrees of freedom. Fundamental examples include Brownian motion and the ideal gas.

Dynamical Models in Epidemiology

We'll introduce mathematical models which arise in epidemiology and population dynamics, and help you develop techniques for analysing the qualitative behaviour of the associated dynamical systems.

 

Introduction to Econometrics
This class builds upon the empirical content of Macroeconomics 2 and further develops your ability to analyse economic data. In addition, this class lays the foundations for further study of econometrics at Honours level.

Assessment

You normally have one opportunity to be re-assessed for a failed class. For unseen exams, this normally takes place during the summer.

In mathematics and statistics, knowledge, understanding and subject-specific skills are assessed by coursework, assignment, reports, presentations and written exams.

In finance, the majority of classes involve unseen exams, business reports, case studies, essays, presentations, individual and group projects, learning journals and peer assessments.

In some cases, you can get exemption from the final exam if you meet attendance requirements.

Learning & teaching

In mathematics and statistics, you’ll learn through (using a variety of media including electronic presentations and computer demonstrations), tutorials, coursework and projects.

You’ll also learn through group work in problem solving and student presentations.

Finance is taught over two semesters in blocks of 12 weeks each. Learning methods include lectures, tutorials, and seminars. You'll also learn through team-based action learning projects, online materials and interactive sessions using personal response systems.

Our business partners are often involved in the teaching and/or assessment of student presentations.

The innovative and highly acclaimed Management Development Programme (MDP) is at the core of our undergraduate degrees in the Business School and comprises a series of classes which you take throughout Years 1 to 3.

You develop knowledge and skills in key areas of management, and team-working, communication and decision-making skills, all of which are highly sought-after by employers.

Major employers and alumni from all sectors are involved in the MDP, participating in group sessions, observing student presentations, and providing feedback. Organisations involved include Barclays, Deloitte, Procter & Gamble and Ernst & Young. In first year the best teams are selected to present to senior staff in one of the sponsoring organisations, and there are prizes for the best projects.

The programme builds your confidence and entrepreneurial capabilities, and promotes awareness of globalisation and ethical issues in personal and business decision-making. In Year 3, you develop your own pathway from internships, involvement with business projects, engagement in interdisciplinary activities and business clinics.  

Entry requirements

Minimum grades

Required subjects are indicated following minimum accepted grades.

Highers

1st sitting: AAAB or AABBB; 2nd sitting: AAABBB (English B, Maths National 5B/Intermediate 2; Higher Maths B for combinations with Finance)

A Levels

Minimum entry requirements: BBB (GCSE English Language B or Literature B; Maths GCSE B/A Level B for combinations with Finance)

Typical entry requirements: ABB (GCSE English Language B or Literature B; GCSE Maths B/A Level B for combinations with Finance)

International Baccalaureate

33 (no subject below 5 and including English SL5, Maths SL5/Maths Studies 5)

HNC/HND

Successful completion of relevant HNC/HND at first attempt with A passes in all graded Units.  Contact Business School Admissions for advice on entry to Year 2.

Irish Leaving Certificate

AAABBB at Higher level, including English and Maths

Required subjects
  • English: Higher level B
  • Maths: Ordinary level at B or Higher level at B for combinations with Finance
  • Maths for combinations with Mathematics & Statistics: Higher level A

Additional information

Advanced Highers

An Advanced Higher and a Higher are given equal credit and the grades for each qualification count towards the total grades required.

Deferred entry

Deferred entry not accepted.

Admission to Honours

All students will be admitted as potential Honours students. Students may exit with a Bachelor of Arts degree at the end of year three of the Honours programme if they have accumulated at least 360 credits and satisfied the appropriate specialisation requirements. For admission to the final year of the Honours course, a student must have qualified for the award of the Bachelor of Arts degree and achieved an approved standard of performance.

English language requirement

A pass in an English language qualification is normally required from applicants outside the UK whose first language is not English. The following provides information on the main qualifications considered for entry to the Business School undergraduate degree courses.

IELTS: Minimum overall band score of 6.5 (no individual test score below 5.5)

Widening access

We want to increase opportunities for people from every background. Strathclyde selects our students based on merit, potential and the ability to benefit from the education we offer. We look for more than just your grades. We consider the circumstances of your education and will make lower offers to certain applicants as a result.

Find out if you can benefit from this type of offer.

International students

Find out entry requirements for your country.

Degree preparation course for international students

We offer international students (non EU/UK) who do not meet the entry requirements for an undergraduate degree at Strathclyde the option of completing an Undergraduate Foundation year programme at the International Study Centre.

You can also complete the online application form, or to ask a question please fill in the enquiry form and talk to one of our multi-lingual Student Enrolment Advisers today.

Fees & funding

How much will my course cost?

Scotland/EU

  • 2017/18 - £1,820

Rest of UK

  • 2017/18 - £9,250

Bachelor degrees at Strathclyde will cost £9,250 a year, but the total amount payable will be capped at £27,750 for students on a four-year Bachelors programme. Students studying on integrated Masters degree programmes – for example MSci, MEng and MPharm – will pay £9,250 for the Masters year.

International

  • 2017/18 - £13,500

Additional fees

Finance 

Course materials & costs

Textbooks vary in price, ranging from £40 to 100 for Accounting Ethics.  The majority of texts are freely available from the library. 

Mathematics & Statistics 

Course materials & costs 

Class materials (lecture notes and exercise sheets) for the majority of Mathematics & Statistics classes are available free to download. For some classes, students may need access to a textbook.  Textbook costs are typically in the £20-60 price range.  These prices are dependent on format (e-book, soft or hardback) and whether bought new or second hand.  

PVG scheme (Protection of Vulnerable Groups)

Third-year Maths and Teaching students will need to pay for the full price of a PVG membership scheme.  

Other costs 

£40 returnable deposit for PRS handsets.

Please note: All fees shown are annual and may be subject to an increase each year. Find out more about fees.

How can I fund my studies?

Students from Scotland and the EU

If you're a Scottish or EU student, you may be able to apply to the Student Award Agency Scotland (SAAS) to have your tuition fees paid by the Scottish government. Scottish students may also be eligible for a bursary and loan to help cover living costs while at University.

For more information on funding your studies have a look at our University Funding page.

Students from England, Wales & Northern Ireland

We have a generous package of bursaries on offer for students from England, Northern Ireland and Wales

You don’t need to make a separate application for these. When your place is confirmed at Strathclyde, we’ll assess your eligibility. Have a look at our scholarship search for any more funding opportunities.

International Students (Non UK, EEA)

We have a number of scholarships available to international students. Take a look at our scholarship search to find out more.

Available scholarships

We have a wide range of scholarships available. Have a look at our scholarship search to find a scholarship.

Careers

Our graduates enter industries such as:

  • manufacturing
  • actuarial, accountancy and banking professions
  • commerce and government
  • consultancy and education

Many go on to work as financial analysts, accountants, operations analysts, treasury analysts, auditors and management trainees.

Contact us

Apply

How to apply – 10 things you need to know

  1. All undergraduate applications are made through UCAS
    Go to the UCAS website to apply – you can apply for up to five courses.
  2. It costs £12 to apply for a course
    The cost is £23 for two to five courses.
  3. The deadline is 15 January each year
    This is the application deadline for most courses. However, please check the details for your particular course. View a full list of UCAS key dates.
  4. You might be asked to attend an interview
    Most of our courses make offers based on the UCAS application. However some might ask you to attend an interview or for a portfolio of work. If this is the case, this will be stated in the prospectus entry requirements.
  5. It’s possible to apply directly to Year 2
    Depending on your qualifications, you might be able to apply directly to Year 2 - or even Year 3 - of a course. Speak to the named contact for your course if you want to discuss this.
  6. There’s three types of decision
    • unconditional – you’ve already met our entry requirements
    • conditional – we’ll offer you a place if you meet certain conditions, usually based on your exams
    • unsuccessful – we’ve decided not to offer you a place
  7. You need to contact UCAS to accept your offer
    Once you’ve decided which course you’d like to accept, you must let UCAS know. You don’t need to decide until you’ve received all offers. UCAS will give you a deadline you must respond by.

    You’ll choose one as your firm choice. If the offer is unconditional or if you meet the conditions, this is the course you’ll study.

    You’ll also have an insurance choice. This is a back-up option if you don’t meet the conditions of your first choice.
  8. You don’t need to send us your exam results (Scotland, England & Wales)
    If you’re studying in Scotland, England or Wales, we receive a copy of your Higher/Advanced Higher/A Level results directly from the awarding body. However, if you are studying a different qualification, then please contact us to arrange to send your results directly.
  9. We welcome applications from international students

    Find out further information about our entry and English language requirements.

    International students who don’t meet the entry requirements, can apply for our pre-undergraduate programmes.

    There’s also an online application form.

    For further information:
  10. Here’s a really useful video to help you apply

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