Mandatory Courses Optional Courses Elective Courses

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1 SCHOOL OF MATHEMATICAL AND COMPUTER SCIENCES Prgramme Structure Infrmatin fr Academic Year 2015/2016 Actuarial Mathematics and Statistics Undergraduate F723 F771 F713 F712 BSc in Actuarial Science BSc in Financial Mathematics BSc in Statistical Mdelling BSc in Actuarial Science and Diplma in Industrial Training Nte: If yu are starting an exchange prgramme in Melburne r Waterl in the cming sessin, r returning t Riccartn frm ne, please see the special details listed fr the year f yur prgramme belw. Selectin f Curses The nline enrlment system will allw yu t select the curses yu wish t study during the Academic Year 2015/16. Yur curses are categrised int Mandatry and Optinal curses: Mandatry Curses Optinal Curses Elective Curses All mandatry curses fr yur prgramme are listed n the nline enrlment system. These curses cannt be altered and must be taken t meet the requirements fr yur prgramme f study. If yur prgramme cnsists entirely f mandatry curses then n further actin is required regarding selectin f curses. Further Infrmatin All ptinal curses fr yur prgramme are listed within the nline enrlment system, if applicable. If n ptinal curses are listed, please ignre and mve t the next screen within the nline enrlment system. Fr further infrmatin n the selectin f yur curses, please refer t yur specific prgramme infrmatin belw. (shwn under Optinal Curses during nline enrlment) Elective curses are listed under the specific prgramme infrmatin later in this dcument. If n infrmatin is present, please ignre and mve n t the next screen n the nline enrlment system. T assist yu in the selectin f yur ptinal/elective curses, please find belw additinal infrmatin relating t the prgramme fr which yu are currently enrlling. Be aware that there may be mre than ne year f study fr this prgramme, therefre please ensure that yu nly refer t yur apprpriate year. Fr example, if yu are enrlling fr year/level 4 f the curse, nly refer t Year/Stage 4 within the apprpriate infrmatin belw. Timetable Clashes - Please nte that mandatry curses will nt clash n yur timetable. Whilst the University aims t accmmdate a full range f ptinal/elective curses, it may nt be pssible fr the timetable t prvide all chice cmbinatins. Timetables will be available 2 weeks prir t the start f Semester and yu are advised t check yur timetable at this time. In the unlikely event that yu have selected curses which result in a timetable clash, yu shuld seek advice frm yur Academic Schl as t the availability f alternative curses. Yu can btain yur timetable by fllwing the link at Please be aware that yur ptinal/elective curses may be subject t change befre the start f Semester. Maximum Limit Exceeded fr a Curse - We try t ffer everyne the pssibility t study the ptinal/elective curse they request. Hwever, in certain curses, we are required t limit the numbers participating. In the event that yu have selected a curse which is ver-subscribed, yu will be cntacted by yur Academic Schl and advised accrdingly. 1

2 Change f Curse Selectin - Prviding that yu have nt cmpleted the nline enrlment prcess, yu will be able t update yur selectin f curses. If hwever, yu decide t change curses fllwing the cmpletin f this prcedure, yu will be required t cmplete a Change f Curse frm fund at: Please be aware that this frm requires t be apprved by yur Academic Schl and decisins may nt be made until the start f the Academic Year. Actuarial Exemptins Please see the last page f this dcument fr a list f the prfessinal examinatins, and the curses which can lead t exemptins frm examinatin in these subjects. Further Assistance Fr mre infrmatin abut the undergraduate prgrammes ffered by the Actuarial Mathematics and Statistics department, please cnsult the AMS Students Guide ( This will, f curse, be updated befre the start f the next academic year. Fr mre infrmatin abut AMS prgramme structures please cnsult: ( If yu require further help in chsing yur curses, please cntact yur mentr r the Directr f Studies fr the year yu are abut t enrl n, as fllws: First year: Secnd year: Third year: Furth year: Dr James Cruise (R.Cruise@hw.ac.uk) Mrs Andrea Sneddn (A.E.Sneddn@hw.ac.uk) Dr Trsten Kleinw (T.Kleinw@hw.ac.uk) Mr Jhn Phillips (J.Phillips@hw.ac.uk) Advice may als be btained frm Dr Tim Jhnsn (T.C.Jhnsn@hw.ac.uk) fr students n Financial Maths and Dr Catherine Dnnelly (C.Dnnelly@hw.ac.uk) fr students n BSc in Actuarial Science and Diplma in Industrial Training and fr students n Exchange Prgrammes. F723 BSc in Actuarial Science Year/Stage 1 Yu may select ne ptinal curse in Semester 1, and ne ptinal curse in Semester 2, frm the The department strngly recmmends that yu chse Intrductry Ecnmics (C27OA) in Semester 1, because this subject leads t exemptin frm the CT7 examinatin f the Institute and Faculty f Actuaries, prvided yur verall mark is high enugh (see the last page f this dcument fr mre infrmatin). The department strngly recmmends that yu chse Finance and Financial Reprting (C37FF) in Semester 2, because this subject leads t exemptin frm the CT2 examinatin f the Institute and Faculty f Actuaries, prvided yur verall mark is high enugh (see the last page f this dcument fr mre infrmatin). If yu d nt wish t take the ptinal curses displayed in either semester, yu may chse any SCQF level 7 curse in the relevant semester, prvided yur chice is explicitly apprved by the First Year Directr f Studies. Year/Stage 2 Yu must select ne f the ptinal curses in Semester 2, frm the list displayed within the nline enrlment system. Students wh tk Finance and Financial Reprting (C37FF) in the first year shuld select Numerical Analysis (F18NA). Yu can nt enrl fr C37FF again in rder t imprve yur grade. The department strngly recmmends that direct entrants int Year 2 shuld select Finance and Financial Reprting (C37FF), because this subject leads t exemptin frm the CT2 examinatin f 2

3 Year/Stage 3 the Institute and Faculty f Actuaries, prvided yur verall mark is high enugh (see the last page f this dcument fr mre infrmatin). Semester 1: Yu must select the fllwing curses which are mandatry fr the BSc in Actuarial Science (even thugh they may be listed n the nline system as ptinal curses). F70LA Life Insurance Mathematics A F79MA Statistical Mdels A F79PA Prtfli Thery and Asset Mdels F79SP Stchastic Prcesses Semester 2: Yu must select the fllwing curses which are mandatry fr the BSc in Actuarial Science (even thugh they may be listed n the nline system as ptinal curses). F70LB Life Insurance Mathematics B F79MB Statistical Mdels B F79DF Derivative Markets and Discrete Time Finance F79SU Survival Mdels Exchange Students If yu are ging n an Exchange prgramme t Melburne, please nte the fllwing: Semester 1: Yu must select the fllwing curses which are mandatry fr the BSc in Actuarial Science (even thugh they are listed n the nline system as ptinal curses). F79MA Statistical Mdels A F79PA Prtfli Thery and Asset Mdels F79SP Stchastic Prcesses F70LA Life Insurance Mathematics A Semester 2: Yu must select: F79ML Year Abrad Melburne A If yu are ging n an Exchange prgramme t Waterl, please nte the fllwing: Semester 1: Yu must register fr F79WA Year Abrad Waterl A Semester 2: Yu must register fr F79WB Year Abrad Waterl B Year/Stage 4 Semester 1: Yu must select either three r fur f the fllwing ptinal curses: F79PS Statistics fr Scial Science F70CF Cntinuus-time Finance F70PE Pensins F10MM Optimisatin F71RM Financial Risk Management In additin, yu may select at mst ne f either: C39SM Internatinal Bnd and Currency Markets Any ther curse apprved by the 4 th Year Directr f Studies Semester 2: Yu must select either three r fur f the fllwing ptinal curses: F79BI Bayesian Inference and Cmputatinal Methds F70TS Time Series F70RT Risk Thery F70LP Life Office Practice In additin, yu may select at mst ne f the fllwing elective curses: F19MO Ordinary Differential Equatins C39TA Taxatin (Tax Law) Any curse apprved by the 4 th Year Directr f Studies IMPORTANT: The fllwing ptinal curses are NOT AVAILABLE in : F70SC Statistical Cmputing F70SP Further Stchastic Prcesses DO NOT REGISTER FOR THESE COURSES! 3

4 Please bear in mind the fllwing imprtant infrmatin when chsing yur curses: Pensins (F70PE) and Life Office Practice (F70LP) are synptically linked, s yu shuld select bth f them r neither f them. Risk Thery (F70RT) and Time Series (F70TS) lead t exemptin frm the CT6 examinatin f the Institute and Faculty f Actuaries, prvided yur verall mark is high enugh (see the last page f this dcument fr mre infrmatin). Prtfli Thery and Asset Mdels (F79PA), Derivative Markets and Discrete-Time Finance (F79DF) and Cntinuus-Time Finance (F70CF) lead t exemptin frm the CT8 examinatin f the Institute and Faculty f Actuaries, prvided yur verall mark is high enugh enugh (see the last page f this dcument fr mre infrmatin). Direct Entrants int Year 2 may take the elective curse Intrductry Ecnmics (C27OA) t btain the CT7 exemptin. Direct Entrants int Year 3 may take Financial Mathematics (F71AB) as an ptinal curse t btain the CT1 exemptin. Intrductry Ecnmics (C27OA) as an elective curse t btain the CT7 exemptin. Finance and Financial Reprting (C37FF) as an elective curse t btain the CT2 exemptin. Please nte hwever that the Examiners will nly take int accunt marks frm level 9 and 10 curses in deciding the class f Hnurs. Exchange Students If yu are n an Exchange prgramme in Melburne, please nte the fllwing: Semester 1: Yu must select: F70ML Year Abrad Melburne B Semester 2: Yu must select at least three f the fllwing ptinal curses F79BI Bayesian Inference and Cmputatinal Methds F70LP Life Office Practice F70TS Time Series F70RT Risk Thery F71AJ Financial Ecnmics 2 and at mst ne f the fllwing elective curses F19MO Ordinary Differential Equatins Any curse apprved by the 4 th Year Directr f Studies If yu have been n an Exchange prgramme in Waterl and are returning t Riccartn in September, please nte the fllwing: Semester 1: Yu must select three r fur f the fllwing ptinal curses: F79PS Statistics fr Scial Science F70PE Pensins F10MM Optimisatin F71RM Financial Risk Management In additin, yu may select at mst ne f the fllwing elective curses: C39SM Internatinal Bnd and Currency Markets Any curse apprved by the 4 th Year Directr f Studies Semester 2: Yu must select three r fur f the fllwing ptinal curses: F79BI Bayesian Inference and Cmputatinal Methds F70TS Time Series F70RT Risk Thery F70LP Life Office Practice In additin, yu may select at mst ne f the fllwing elective curses: F19MO Ordinary Differential Equatins C39TA Taxatin (Tax Law) Any curse apprved by the 4 th Year Directr f Studies 4

5 F771 BSc in Financial Mathematics Year/Stage 1 There are n ptinal r elective curses. Year/Stage 2 Yu must select ne ptinal curse in Semester 2, frm the list displayed within the nline enrlment system. Yu can nt enrl fr C37FF, Finance and Financial Reprting, unless yu are a direct entry student t year 2. There are n elective curses. Year/Stage 3 Yu must select ne ptinal curse in Semester 1, and ne ptinal curse in Semester 2, frm the The department strngly recmmends yu take Vectr Analysis (F19MV) in Semester 1. Yur chice f ptins in Semester 2 will be influenced by yur preferred destinatin n graduatin. Fr example, if yu are cnsidering a career as a Quantitative Analyst yu shuld pt fr Numerical Analysis B (F19NB). If yu are thinking abut a career in Risk Management, then Bayesian Inference and Cmputatinal Methds (F79BI) wuld be preferred. There are n elective curses. Year/Stage 4 Yu must select three ptinal curses in Semester 1, and three ptinal curses in Semester 2, frm the When finished, yu shuld have a ttal f six ptinal curses fr the whle year. Yur chice f ptins will be influenced by yur preferred destinatin n graduatin. Fr example, Fr Quantitative Analyst rles: Financial Risk Management (F71RM), Numerical Analysis C (F10NC), and Optimisatin (F10MM) are recmmended in Semester 1. In Semester 2 Bayesian Inference & Cmputatinal Methds (F79BI), Numerical Analysis D (F10ND), Time Series (F70TS) are recmmended. Fr Risk Management rles: Financial Risk Management (F71RM), Optimisatin (F10MM) and Statistics fr Scial Science (F79PS) are recmmended in Semester 1. In Semester 2 yu shuld chse Risk Thery (F70RT), Time Series (F70TS) and Credit Risk Mdelling (F71CM). Fr pst-graduate study: Functinal Analysis (F10MF), Numerical Analysis C (F10NC) and Optimisatin (F10MM) are recmmended in Semester 1. In Semester 2 5

6 Numerical Analysis D (F10ND), Time Series (F70TS), Bayesian Inference & Cmputatinal Methds (F79BI), and are recmmended. All these chices are dependent n yu having the right pre-requisites. Please see belw and cntact Dr Tim Jhnsn if yu are unsure. There are n elective curses F713 BSc in Statistical Mdelling Year/Stage 1 Yu may select ne ptinal curse in Semester 1, and ne ptinal curse in Semester 2, frm the If yu d nt wish t take the ptinal curses displayed in either semester, yu may chse any SCQF level 7 curse in the relevant semester, prvided yur chice is explicitly apprved by the First Year Directr f Studies. Year/Stage 2 Yu may select ne ptinal curse in Semester 2, frm the list displayed within the nline enrlment system. If yu d nt wish t take either f the ptinal curses displayed in Semester 2, yu may chse any SCQF level 7 r 8 curse in Semester 2, prvided yur chice is explicitly apprved by the Secnd Year Directr f Studies. Year/Stage 3 Yu may select ne ptinal curse in Semester 1, and ne ptinal curse in Semester 2, frm the If yu d nt wish t take the ptinal curses displayed in either semester, yu may chse any SCQF level 7 r 8 r 9 curse in the relevant semester, prvided yur chice is explicitly apprved by the Third Year Directr f Studies. Please nte hwever that the Examiners will nly take int accunt marks frm level 9 and 10 curses in deciding the class f Hnurs. Year/Stage 4 Yu may select tw ptinal curses in Semester 1, and tw ptinal curses in Semester 2, frm the IMPORTANT: The fllwing ptinal curses are NOT AVAILABLE in : F70SC Statistical Cmputing F70SP Further Stchastic Prcesses DO NOT REGISTER FOR THESE COURSES! 6

7 F712 Bsc in Actuarial Science and Diplma in Industrial Training Year/Stage 1 Yu may select ne ptinal curse in Semester 1, and ne ptinal curse in Semester 2, frm the The department strngly recmmends that yu chse Intrductry Ecnmics (C27OA) in Semester 1, because this subject leads t exemptin frm the CT7 examinatin f the Institute and Faculty f Actuaries, prvided yur verall mark is high enugh (see the last page f this dcument fr mre infrmatin). The department strngly recmmends that yu chse Finance and Financial Reprting (C37FF) in Semester 2, because this subject leads t exemptin frm the CT2 examinatin f the Institute and Faculty f Actuaries, prvided yur verall mark is high enugh (see the last page f this dcument fr mre infrmatin). If yu d nt wish t take the ptinal curses displayed in either semester, yu may chse any SCQF level 7 curse in the relevant semester, prvided yur chice is explicitly apprved by the First Year Directr f Studies. Year/Stage 2 Yu must select ne f the ptinal curses in Semester 2, frm the list displayed within the nline enrlment system. Students wh tk Finance and Financial Reprting (C37FF) in the first year shuld select Numerical Analysis (F18NA). Yu can nt enrl fr C37FF again in rder t imprve yur grade. The department strngly recmmends that direct entrants int Year 2 shuld select Finance and Financial Reprting (C37FF), because this subject leads t exemptin frm the CT2 examinatin f the Institute and Faculty f Actuaries, prvided yur verall mark is high enugh (see the last page f this dcument fr mre infrmatin). Prerequisites The fllwing lists cntains details f prerequisites fr all level 8, 9 and 10 curses taught in the department f Actuarial Mathematics and Statistics. This infrmatin will be particularly useful fr Year 4 students wh are chsing their ptinal curses. Fr curses taught by ther departments, please check the webpage f the relevant department. Where prerequisites are mentined, students must have btained a D r better in these subjects in rder t be allwed t take their chsen curse. Level 8 Prbability and Statistics A (F78PA): Intrductin t Statistical Science A (F77SA) and Intrductin t Statistical Science B (F77SB) r equivalent. Prbability and Statistics B (F78PB): Intrductin t Statistical Science A (F77SA) and Intrductin t Statistical Science B (F77SB) r equivalent. Actuarial and Financial Mathematics A (F78AA): N prerequisites. Actuarial and Financial Mathematics B (F78AB): N prerequisites. 7

8 Level 9 Statistical Mdels A (F79MA): Prbability and Statistics A (F78PA) and Prbability and Statistics B (F78PB) r equivalent. Statistical Mdels B (F79MB): Prbability and Statistics A (F78PA) and Prbability and Statistics B (F78PB) r equivalent. Statistics fr Scial Science (F79PS): Prbability and Statistics A (F78PA) and Prbability and Statistics B (F78PB), (r alternatively Statistics fr Science (F78SC)), r equivalent. Stchastic Prcesses (F79SP): Prbability and Statistics A (F78PA) and Prbability and Statistics B (F78PB) r equivalent. Bayesian Inference & Cmputatinal Methds (F79BI): Prbability and Statistics A (F78PA) and Prbability and Statistics B (F78PB) r equivalent. Prtfli Thery and Asset Mdels (F79PA): Prbability and Statistics A (F78PA) and Actuarial and Financial Mathematics B (F78AB) r equivalent. Derivative Markets and Discrete-Time Finance (F79DF): Prbability and Statistics A (F78PA) and Actuarial and Financial Mathematics B (F78AB) r equivalent. Survival Mdels (F79SU): Financial Mathematics B (F78AB) and Prbability and Statistics B (F78PB) r equivalent. Level 10 Time Series (F70TS): Prbability and Statistics A (F78PA) and Prbability and Statistics B (F78PB) r equivalent. Statistics Dissertatin A (F70DA): Statistical Mdels A (F79MA) and Statistical Mdels B (F79MB). Statistics Dissertatin B (F70DB): Statistical Mdels A (F79MA) and Statistical Mdels B (F79MB). Life Insurance Mathematics A (F70LA): Actuarial and Financial Mathematics A (F78AA) and Actuarial and Financial Mathematics B (F78AB) r equivalent. Life Insurance Mathematics B (F70LB): Actuarial and Financial Mathematics A (F78AA) and Actuarial and Financial Mathematics B (F78AB) r equivalent. Cntinuus-Time Finance (F70CF): Stchastic Prcesses (F79SP) and Derivatives Markets and Discrete- Time Finance (F79DF) r equivalent. Financial Risk Management (F71RM): Prbability and Statistics B (F78PB) and Prtfli Thery and Asset Mdels (F79PA) r equivalent. Pensins (F70PE): Life Insurance Mathematics A (F70LA) and Life Insurance Mathematics B (F70LB) r equivalent. Statistics Special Tpic (F70ST): Statistical Mdels A (F79MA) and Statistical Mdels B (F79MB) r equivalent. Life Office Practice (F70LP): Life Insurance Mathematics A (F70LA) and Life Insurance Mathematics B (F70LB) r equivalent. Risk Thery (F70RT): Statistical Mdels A (F79MA) r equivalent. Advanced Derivative Pricing (F70DP): Stchastic Prcesses (F79SP) and Derivatives Markets and Discrete-time Finance (F79DF) r equivalent. Optimisatin (F10MM): Multivariable Calculus and Real Analysis A (F18CD) and Linear Algebra (F18CF). 8

9 Actuarial Subjects (Exemptins): CT1: Actuarial and Financial Mathematics A (F78AA) and Actuarial and Financial Mathematics B (F78AB) CT2: Finance and Financial Reprting (C37FF) CT3: Prbability and Statistics A (F78PA) and Prbability and Statistics B (F78PB) CT4: Stchastic Prcesses (F79SP) and Survival Mdels (F79SU) CT5: Life Insurance Mathematics A (F70LA) and Life Insurance Mathematics B (F70LB) CT6: Risk Thery (F70RT) and Time Series (F70TS) CT7: Intrductry Ecnmics (C27OA) CT8: Prtfli Thery and Asset Mdels (F79PA), Derivative Markets and Discrete-Time Finance (F79DF) and Cntinuus-Time Finance (F70CF) 9