Financial Mathematics DC704

The aims of the programme are: To open up advanced career opportunities for graduates of traditional mathematics courses To give specialists in other numerate disciplines (e.g. engineers, scientists or economists) the opportunity to deepen their understanding of mathematics and to master powerful modern mathematical techniques To achieve these aims it is intended: To introduce relevant problems and to explain the context in which they arise. To formulate these problems in mathematical terms. To instruct students in modern mathematical methods powerful enough to deal with these problems. To develop the student's ability to solve problems, by reformulating the problem and adapting mathematical methods. On completion of the programme, students will be competent: To recognise, through discussion with the in that field, the essential features of a given industrial process or economic situation. To assign variables and to formulate relationships in the form of mathematical equations. To solve equations by appropriate analytical, numerical or approximate methods. To interpret the mathematical solution in the idealised situation based on the essential features recognised above. To validate the model in the real situation. To make adjustments to the model in the event that it does not validate. To communicate the implications of the model and advise on its implementation.