Programmes

Master of Science in Mathematics for Finance and Actuarial Science

Programme	Master of Science in Mathematics for Finance and Actuarial Science 理學碩士(金融與精算數學)
Award Title	Master of Science in Mathematics for Finance and Actuarial Science 理學碩士(金融與精算數學)
Offering Academic Unit	Department of Mathematics
Mode of Study	Combined mode

Normal Period of Study

- 1 year (full-time)
- 2 years (part-time/combined mode)

Maximum Period of Study

- 2.5 years (full-time)
- 5 years (part-time/combined mode)

Credit Units Required for Graduation

Programme Aims

This programme aims to

1. produce analytic, business-aware graduates with solid background in financial engineering, actuarial science and risk management;

2. equip students with theoretical knowledge, statistical methods and computational skills for developing financial and actuarial services within international business context;

3. integrate mathematical skills acquired in the curriculum with contemporary finance theory and information technology;

4. develop competence in an ability of applying mathematical and computing techniques to practical problems of quantitative finance and actuarial science; and

5. train students up to an academically qualified level for a professional career in finance and actuarial science.

Programme Intended Learning Outcomes (PILOs)

Upon successful completion of this Programme, students should be able to

1. explain and analyze the basic principles of mathematical finance and actuarial science;

2. evaluate and investigate contemporary issues on financial and actuarial business opportunities;

3. apply mathematical and statistical tools in analyzing sophisticated financial products and actuarial operations;

4. design and evaluate quantitative models for pricing derivative securities, managing trading strategies and simulating market scenarios;

5. engage in accounting and marketing activities with techniques of risk management and portfolio assessment;

6. note and critique business issues on interpretation and quantification of financial risks with state-of-the-art methodology; and

7. undertake general practice of actuaries and financial engineers in an intellectual manner.

Programme Requirements

1. Programme Core Courses (12 credit units)

Course Code	Course Title	Credit Units
EF5052	Investments	3
MA5620	Actuarial Science	3
MA5621	Mathematical Methods for Finance and Actuarial Science	3
MA6621	Programming and Computing in Finance and Actuarial Science	3

2. Programme Electives:
List A

(Minimum 18 credits from the indicative elective list below)

Course Code	Course Title	Credit Units	Remarks
EF5210	Option Pricing	3
MA5601	Applied Partial Differential Equations	3
MA5622	Statistical Methods for Stochastic Models in Finance and Actuarial Science	3	Students are required to take at least two electives from MA5622, MA5623 and MA6623 during their studies.
MA5623	Mathematical Models and Methods in Asset Management	3	Students are required to take at least two electives from MA5622, MA5623 and MA6623 during their studies.
MA5625	Numerical Methods	3
MA6609	Statistical Analysis of Financial Data	3
MA6612	Numerical Partial Differential Equations	3
MA6617	Dissertation	6
MA6620	Advanced Actuarial Science	3
MA6622	Model Calibration in Finance and Actuarial Science	3
MA6623	Advanced Mathematical Methods for Finance and Actuarial Science	3	Students are required to take at least two electives from MA5622, MA5623 and MA6623 during their studies
MA6625	Mathematical Methods for Risk Management	3
MA6627	Stochastic Interest Rate Models	3
MA6653	Special Topics in Actuarial Science	3

List B

Students may take a maximum of 3 credits elective in their final year of studies from the following list of specified courses (i.e. List B) offered by the departments of EF and MS.

Course Code	Course Title	Credit Units
EF5080	Advanced Topics in Financial Engineering	3
EF5157	Fixed Income Securities	3
EF5340	Credit Risk Management	3
MS6211	Statistical Modelling in Risk Management	3
MS6215	Forecasting Methods for Business	3
MS6711	Data Mining	3

Additional Information

To Visiting Postgraduate Students

Certificate of Completion

Visiting postgraduate students are required to participate fully in the selected course(s), including attendance in lectures/tutorials/seminars, completion of coursework, and pass in examinations (if applicable). Those who have successfully completed the selected course(s) and fulfilled the specific requirements set by the department will earn the credits of the selected course(s) and receive a Certificate of Completion.

Certificate of Attendance

Visiting postgraduate students are required to attend at least 75% of the lectures/tutorials/seminars of their selected course(s). Upon fulfilling the attendance requirements of the selected course(s), the visiting postgraduate students will be issued a Certificate of Attendance but no credits will be earned.

Credits Transfer

Total credit unit transfer of a student cannot exceed 9 credit units for the whole degree programme and the courses for transfer must be taken by the student within 3 years from the date of application of transfer exercise.