- UCAS Code: GN33
- Accreditation: triple-accredited Business School - AACSB, EQUIS, AMBA
Second year entry: available
Part-time study: available
Study with us
- bridge the gap between business, mathematics and statistics
- develop mathematical and statistical expertise at the same time as increasing your skills in the largest business school in Scotland
- Mathematics, Statistics & Finance degree provides a good basis for entering the actuarial profession
Why this course?
There’s a 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 or accounting background. This course provides a good basis for entering the actuarial profession.
Our flexible degree structure also enables transfer between courses.
The best thing about studying at Strathclyde is the friendliness of the people there. The friends you make there make your experience at the university extremely positive as they are there to help if you are struggling with classes.
Neal McCulloch, Mathematics (BSc Hons)
What you'll study
Each year contains compulsory modules and some years contain either optional modules in different areas of mathematics and/or elective modules 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 Mathematics, Statistics, or Finance you want to specialise in.
Years 1 & 2
In addition to the study of core mathematical methods, you’ll study probability & statistical inference, mathematical & statistical computing, business finance, and portfolio management.
Years 3 & 4
You can choose from a range of Mathematics, Statistics and Finance modules from one or more specialist application areas.
The Honours-year project may be in Mathematics, Statistics or Finance.
Topics offered in Maths Honours-year modules include the mathematics of financial derivatives, mathematical modelling in biology and medicine, statistical modelling & analysis, and the mathematics of networks.
Business Analysis options include business analysis using data mining, risk analysis & management, and business technology.
You’ll have access to well-equipped, modern computer laboratories and teaching rooms, as well as 24-hour access to an advanced computer information network and a sophisticated virtual e-learning environment. We have also an undergraduate common room which gives you a modern and flexible area that's used for individual and group study work and is also a relaxing social space.
You will have the opportunity to spend time studying abroad, normally in the third year of the course. We have links with European and non-European universities, which include:
- University of Limerick, Republic of Ireland
- Johannes Kepler University, Linz, Austria
- Technical University of Denmark, Lyngby, Denmark
- University of Toronto, Canada
- Queen's University at Kingston, Canada
- George Institute of Technology, USA
- Swinburne University of Technology, Melbourne, Australia
- University of Otago, New Zealand
- Nanyang Technological University, Singapore
Introduction to Calculus (20 credits)
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 (20 credits)
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. These will all be demonstrated in application to practical problems including solving basic first and second-order differential equations.
Geometry & Algebra with Applications (20 credits)
This module will introduce you to vectors and matrices, along with the idea of mathematical modelling through their application to real-world problems.
Statistics & Data Presentation (20 credits)
Some basic ideas and techniques of statistics will be presented while introducing some essential study skills, allowing you to develop and practice personal and technical skills, for example, self-study, teamwork, analysing data, writing reports, and making presentations.
Introduction to Finance & Financial Analysis (20 credits)
This module provides an introduction to finance and accounting, covering:
- the basic concepts and practicalities of corporate finance
- the principles of valuation
- financial management and business investment
- the role and purpose of company accounts and their usefulness
- security analysis
- risk and returns from investments
- personal finance.
At all times the module content will be linked with financial behaviour in the real world.
Linear Algebra & Differential Equations (20 credits)
This module 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.
Advanced Calculus (20 credits)
This module will present basic ideas, techniques and results for calculus of two and three variables, along with differentiation and integration over curves, surfaces and volumes of both scalar and vector fields.
Probability & Statistical Inference (20 credits)
This module will present the basic concepts of probability theory and statistical inference and provide you with the tools to appropriately analyse a given data set and effectively communicate the results of such analysis.
Mathematical & Statistical Computing (20 credits)
This module 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.
Portfolio Management & Security Analysis (20 credits)
This module will provide an understanding of the principles and theories relevant to the process of building investment portfolios. It covers practical applications as well as theoretical material and considers the capital asset pricing model (CAPM), market efficiency, and the estimation and evaluation of fund performance measures. It also considers issues in bond portfolio management and equity trading strategies.
In third year you will study compulsory and optional modules totalling 120 credits.
Treasury Management & Derivatives (20 credits)
This module looks at the role of the treasurer in a multinational corporation and the main task of managing risk with respect to funding requirements, foreign exchange, liquidity and banking relationships. Also included is the management of country-specific risks for multi-national firms.
Differential Equations (20 credits)
In this module 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 (20 credits)
This module 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
Advanced Corporate Finance & Financial Markets (20 credits)
This module will cover financial markets, institutions, and instruments, process of financing of a corporate entity and some specialist topics (such as convertibles, real options, mergers and acquisitions international project appraisal) that are relevant for corporate decision making.
Complex Variables & Integral Transforms (20 credits)
This module will introduce functions of a complex variable, define concepts such as continuity, differentiability, analyticity, line integration, singular points, etc. You will examine some important properties of such functions and consider some applications of them, for example, conformal mappings and the evaluation of real integrals using the Residue Theorem. You will also be introduced to Fourier and Laplace transform methods for solving linear ordinary differential equations and convolution type integral equations.
Linear Algebra (20 credits)
In this module 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 (20 credits)
This module will motivate the need for numerical algorithms to approximate the solution of problems that can’t be solved with pen and paper. You’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 (20 credits)
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.
In fourth year you will study compulsory and optional modules totalling 120 credits.
You'll choose between a Mathematics & Statistics project and a Finance project.
Communicating Mathematics & Statistics (20 credits)
This module 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. You will undertake an individual research project, researching a mathematical or statistical topic and writing a short report on it.
Finance Dissertation (40 credits)
The finance dissertation is a long piece of academic writing that investigates in detail a particular finance topic in which you have an interest. You will research your chosen subject by critiquing other researcher’s work, discussing relevant theories and/or methodologies, reviewing literature, collecting data and carrying out your own research on this data, usually involving statistical analysis. Once you have produced your results on your data, you will have to interpret what it all means and write it up in an acceptable academic format.
Optional modules - list A
Statistical Modelling & Analysis (20 credits)
You will be provided with a range of applied statistical techniques that can be used in professional life. This module provides you with the fundamental principles of statistical modelling through experimental design and multivariate analysis.
Applied Statistics in Society (20 credits)
In this module you'll be introduced to a range of modern statistical methods and practices used in industry, commerce and research, and you will develop skills in your application and presentation.
Medical Statistics (20 credits)
This module will cover the fundamental statistical methods necessary for the application of classical statistical methods to data collected for health care research. There will be an emphasis on the use of real data and the interpretation of statistical analyses in the context of the research hypothesis under investigation.
Topics covered will include:
- survival analysis
- analysing categorical data using hypothesis tests
- experimental Design and sampling
- clinical measurement
Modelling & Simulation with Applications to Financial Derivatives (20 credits)
In this module, 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. The 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 module introduces general modeling and simulation tools, and the second half focuses on the specific application of valuing financial derivatives, including the celebrated Black-Scholes theory.
Optional modules - list B
Modelling & Simulation with Applications to Financial Derivatives (20 credits)
In this module 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 module 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.
Applicable Analysis 3 (20 credits)
This module will present the main results in Functional Analysis. You will also be introduced to linear operators on Banach and Hilbert spaces and study applications to integral and differential equations.
Fluids & Waves (20 credits)
In this module 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 (20 credits)
In this module 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 (20 credits)
In this module, you'll learn the application of mathematical models to a variety of problems in biology, medicine, and ecology. The module will 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
- 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.
Mathematical Introduction to Networks (20 credits)
This module will demonstrate the central role network theory plays in mathematical modelling. It'll also show the intimate connection between linear algebra and graph theory and how to use this connection to develop a sound theoretical understanding of network theory. Finally, it'll apply this theory as a tool for revealing structure in networks.
Optional modules - list C
Asset Pricing (20 credits)
This module explores the stochastic discount factor approach to asset pricing. The stochastic discount factor approach provides a general framework for evaluating issues in asset pricing. The aim of the module is to examine a number of theoretical and empirical issues in asset pricing.
Corporate Financing (20 credits)
This module will cover theories of capital structure, sources of capital (debt and equity), and corporate payout policy at an advanced level. The starting point for this module will be Modigliani-Miller assumptions introduced in Business Finance, and course material will highlight how the relaxation of these assumptions leads to formal models on corporate financing behaviour under imperfect capital markets. The emphasis will be upon the ideas necessary to analyse the firm’s financing decisions. It discusses financial structure and the alternative mechanisms for distributing corporate wealth to shareholders.
Corporate Investment (20 credits)
This module covers the main topics in the corporate investment and restructuring literature. It's primarily connected with corporate investment, otherwise referred to as real investment. It examines in more detail the theoretical foundations of the principles of optimal investment behaviour, restructuring and the strategic investment positions adopted by firms in practice. It builds significantly on the mergers and acquisitions theories and evidence and also examines the interface between investment and the financing decisions.
This module aims to develop a deep understanding of the main issues in the theory and practice of corporate investment and restructuring policies, and to develop students' initiative and ability to research the relevant literature. It'll emphasise the role of key concepts in finance in explaining and understanding observed corporate investment and restructuring policies, whilst also highlighting their limitations in this respect. This module is based mainly on academic articles that have influenced and directed the current level of understanding of Corporate Investment Policy.
Financial Quantitative Methods (20 credits)
This module examines the problems associated with specifying financial models in forms which are amenable to estimation and testing with the available data. Consideration is given to the nature of financial data, the methods by which it's compiled and the problems it may present for applied financial analyst. You will be taught techniques of estimation, together with the methods for solving financial model problems. One coursework includes practical experience of applying the techniques to financial data using the econometric software PcGive.
The first aim of this module is to train you in the financial quantitative techniques used for the estimation and testing of financial models. The second aim is to build on and extend aspects of the models covered in other finance modules in order to provide you with skills required to evaluate advanced applied financial research. Therefore, it is assumed that students taking this module are familiar with basic statistics and simple least-squares methods of estimation.
Behavioural Finance (20 credits)
This module builds on your knowledge of finance and your understanding of finance theory developed through the core modules in years 1 to 3. It will introduce you to behavioural finance and provide you with an understanding of the main flaws of traditional finance theory from a behavioural finance viewpoint. This module will allow you to develop the ability to discuss issues arising from violations of the rationality assumption and to enable you to evaluate new theoretical models based on research in psychology.
This module will allow you to appreciate the role of new developments in finance and their possible implications for established views of financial markets. It will provide you with an understanding of the main ideas of behavioural finance. A particular emphasis is placed on understanding the roles of non-rational actions and the development of new financial models that incorporate these. You will engage with up-to-date research and develop a critical view of existing and new finance theories and models.
International Financial Management (20 credits)
This module considers financial issues associated with the operation of a firm in the international environment. It will focus on complications that make corporate financial decision harder for internationally oriented firms than domestic firms, like exchange rates and political risk.
Specifically, it will focus on the following issues:
- exchange rate theories and implications for the multinational company
- management of corporate exchange rates exposure
- the evaluation and incorporation of political risk into project evaluation
- the array of corporate financing possibilities in a global market
- the basic issues in international investment analysis, like capital budgeting and cost of capital determination for foreign projects
- methods for evaluating the performance of foreign operations
While this module presents theoretical points of view on the various issues, it uses both empirical academic evidence and discussion of firms' real-world activities to prepare you for careers dealing with financial issues of international corporate operations both at the banking and corporate level. It studies corporate financial decisions in an international setting.
Advanced Derivatives (20 credits)
This module covers advanced material in derivatives pricing. We will cover stochastic calculus and its implication in finance. In addition, numerical methods, such as Monte Carlo simulation, the Binomial tree model, and finite difference methods, will be introduced to price basic options. Finally, this course explores portfolio risk management and real option pricing framework. By the end of this course, you will have a good understanding of how derivative contracts work, how they are used and how they are priced. Students will learn how traditional option pricing framework could be used to analyse real investment projects.
The Department of Mathematics & Statistics
At the heart of the Department of Mathematics & Statistics is the University’s aim of developing useful learning. Our research emphasises how mathematics and statistics can be applied in the real world and have societal impact. We're an applied department with many links to industry and government, bridging the gap between academia and real life. Many of the academic staff hold joint appointments with, or are funded by, other organisations, such as:
- Public Health and Intelligence (Health Protection Scotland)
- NHS Greater Glasgow and Clyde
- the Marine Alliance for Science and Technology Scotland (MASTS)
In the video below, Carla explains what she enjoys about studying at Strathclyde:
In the video below, Tiger talks about his journey and his reasons for choosing Strathclyde.
Learning & teaching
The following teaching methods are used in Mathematics and Statistics: lectures (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. Diverse learning methods are used, including lectures, tutorials, and seminars alongside student-centred methods such as 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.
On completion of the programme, you’ll be able to:
- demonstrate knowledge of the main areas of mathematics, statistics and accounting
- shown an understanding of the principle mathematical and financial theories and a critical understanding of one or more specialised areas
- demonstrate skills in calculation
- develop and evaluate logical arguments, presenting them and their conclusions clearly and accurately
- demonstrate a range of problem-solving skills, e.g. abstracting the essentials of problems, formulating them and finding appropriate solutions
- undertake a critical analysis of data and draw conclusions from the data
- interpret financial data and carry out financial analysis, understanding the financial of the business, capital markets, personal investors and risk and return
- demonstrate a range of appropriate general skills including IT competency
In Mathematics and Statistics, knowledge, understanding and subject-specific skills are assessed by coursework, assignment, reports, presentations and written examinations.
In Finance, the majority of modules involve formal written exams, business reports, case studies, essays, presentations, individual and group projects, learning journals and peer assessments.
In some cases, students can get an exemption from the final exam where they meet attendance and assessment requirements.
Entry requirements are for September 2023 entry.
Required subjects are shown in brackets.
Year 1 entry: AABB/ABBBC
(Maths A, English C, Advanced Higher Maths recommended)
BBBB (including Maths at B, English at C and 70% in Strathclyde Summer School Mathematics)
(Maths A, English C)
Year 2 entry: AAB
(including Maths A and Accounting or Economics A)
Standard entry requirements*:
Year 1 entry: BBB
(Maths, GCSE English Language 6/B or English Literature 6/B)
Year 2 entry: ABB
(Maths A, business subject B, GCSE English Language 6/B or English Literature 6/B)
Standard entry requirements*:
Year 1 entry: 30
(Mathematics HL5, English SL6)
(Mathematics HL6, English SL6)
Year 1 entry: relevant HNC with strong mathematical content, B in Graded Unit, plus Higher Maths at A or 70% in Strathclyde Summer School Mathematics
View the entry requirements for your country.
Offers are made in accordance with specified entry requirements although admission to undergraduate programmes is considered on a competitive basis and entry requirements stated are normally the minimum level required for entry.
Whilst offers are made primarily on the basis of an applicant meeting or exceeding the stated entry criteria, admission to the University is granted on the basis of merit, and the potential to succeed. As such, a range of information is considered in determining suitability.
In exceptional cases, where an applicant does not meet the competitive entry standard, evidence may be sought in the personal statement or reference to account for performance which was affected by exceptional circumstances, and which in the view of the judgement of the selector would give confidence that the applicant is capable of completing the programme of study successfully.
Degree preparation course for international students
We offer international students (non-EU/UK) who do not meet the academic entry requirements for an undergraduate degree at Strathclyde the option of completing an Undergraduate Foundation year programme at the University of Strathclyde International Study Centre.
Upon successful completion, you'll be able to progress to this degree course at the University of Strathclyde.
Contextual Admissions for 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.
We've a thriving international community with students coming here to study from over 140 countries across the world. Find out all you need to know about studying in Glasgow at Strathclyde and hear from students about their experiences.Visit our international students' section
Fees & funding
All fees quoted are for full-time courses and per academic year unless stated otherwise
Fees may be subject to updates to maintain accuracy. Tuition fees will be notified in your offer letter.
All fees are in £ sterling, unless otherwise stated, and may be subject to revision.
Annual revision of fees
Students on programmes of study of more than one year should be aware that tuition fees are revised annually and may increase in subsequent years of study. Annual increases will generally reflect UK inflation rates and increases to programme delivery costs.
Fees for students who meet the relevant residence requirements in Scotland are subject to confirmation by the Scottish Funding Council. Scottish undergraduate students undertaking an exchange for a semester/year will continue to pay their normal tuition fees at Strathclyde and will not be charged fees by the overseas institution.
|England, Wales & Northern Ireland|
Assuming no change in fees policy over the period, the total amount payable by undergraduate students will be capped. For students commencing study in 2024/25, this is capped at £27,750 (with the exception of the MPharm and integrated Masters programmes), MPharm students pay £9,250 for each of the four years. Students studying on integrated Masters degree programmes pay an additional £9,250 for the Masters year with the exception of those undertaking a full-year industrial placement where a separate placement fee will apply.
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 to £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.
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.
Visa & immigration
International students may have associated visa and immigration costs. Please see student visa guidance for more information.
|University preparation programme fees|
International students can find out more about the costs and payments of studying a university preparation programme at the University of Strathclyde International Study Centre.
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
Fees for students who meet the relevant residence requirements in Scotland, 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.
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.
We have a number of scholarships available to international students. Take a look at our scholarship search to find out more.
Glasgow is Scotland's biggest & most cosmopolitan city
Our campus is based right in the very heart of Glasgow. We're in the city centre, next to the Merchant City, both of which are great locations for sightseeing, shopping and socialising alongside your studies.Life in Glasgow
There is a demand for mathematicians and statisticians across a range of sectors, for example, manufacturing, the actuarial, accountancy and banking professions, commerce and government, consultancy and education.
Many of our graduates go on to work as financial analysts, accountants, operations analysts, treasury analysts, auditors and management trainees.
The course is also useful for those considering a more general business career.
Recent job titles include:
- Debt Counsellor
- Fraud Analyst
- Graduate Tax Accountant
- Information Analyst/Statistician
- Loans Capacity Planning Analyst
- LLoyds Bank
- Ernst & Young
- National Services Scotland
- Tesco Bank
How much will I earn?
The median salary of a mathematical sciences graduate in full-time work one year after graduating is £29,000 (compared with the graduate average of £26,000), rising to £37,600 after five years (30% greater than the graduate average of £28,800). *
Salary potential depends on the industry you choose to work in. With experience, actuaries can earn more than £70,000, and investment analysts can earn up to £100,000 plus bonuses. **
**Based on information from prospects.ac.uk, September 2023
Mathematics, Statistics & Finance (1 year entry)
Mathematics, Statistics & Finance (2 year entry)
Start date: Sep 2024
Mathematics, Statistics & Finance (1 year entry)
Start date: Sep 2024
Mathematics, Statistics & Finance (2 year entry)
Have you considered?
We've a range of courses similar to this one which may also be of interest.
Discover Uni includes official statistics about higher education courses taken from national surveys and data collected from universities and colleges about all their students.