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University College Dublin

Quantitative Finance

The MSc in Quantitative Finance is a balanced programme of finance and computational methods, which will suit numerate, competitive students looking for careers in finance that stretch their quantitative talents.

Ambitious students with an educational background in Economics, Finance or STEM (Science, Technology, Engineering, and Mathematics) subjects and with a proven quantitative talent will be ideally suited to this programme.

This course covers a broad range of subjects related to the mathematical modelling of financial markets and the pricing and hedging of financial securities. The course equips you with the necessary theoretical, mathematical and computational skills needed to pursue a career in quantitative finance. If you are a competitive student looking for a career in finance that will use your quantitative talents to the full, this is the course for you.

For graduates wishing to pursue further the theoretical dimension to the discipline, the curriculum content provides the perfect basis for a Ph.D. in Finance.

The course was awarded Risk Management Accreditation by the Professional Risk Managers International Association (PRMIA), confirming the suitability of the course for preparing graduates for a career as professional risk managers. Graduating students obtain exemptions to PRMIA level 1 and 2 exams.

What will I learn?
The course achieves the ideal balance between financial and computational theory and methodology, thereby enabling graduates to critically analyse and develop financial decision-making and risk management tools but also understand specific quantitative models and strategies applied in financial markets.

1. Acquisition of the theoretical, analytical and practical skills needed to manage portfolios of equity, fixed income and derivative securities and develop the tools for managing corporate financial risk.

2. Assimilation of implementation methods for financial models using various programming languages and the application of critical evaluation techniques to the performance of models.

3. The ability to carry out independent research on the uses of financial models, their implementation and their limitations.

How will I benefit?
The course not only attracts graduates from a number of different backgrounds but can also be tailored to a wide variety of academic and professional objectives, providing an enviable array of career options upon graduation.

A truly specialist preparation for a future career within the finance industry, in a variety of functions including funds management, investment banking, financial engineering and corporate treasury management.

In the summer term, students can choose from some summer term modules, or a research project, or in a small number of cases, from a limited number of possible internships. With any possible internship opportunity, students may have to go through a competitive process for these, including potential interviews.

Exemption from Professional Risk Managers certification examinations, the global standard for the world's top financial risk professionals.

Course features
Industry recognition and endorsement the course was awarded Risk Management Accreditation by the Professional Risk Managers International Association, confirming the suitability of the course for preparing graduates for a career as professional risk managers.

A customisable curriculum the course is available in three made-to-measure streams: 12 taught modules, research + major project, or modules + internship.

Possibilities within academia for graduates wishing to pursue further the theoretical dimension to the discipline, the curriculum content provides the perfect basis for a Ph.D. in Finance.

Entry requirements

An honours bachelors degree in:
a. Business/Commerce to include a number of quantitative subjects such as Economics or Finance
or
b. a Finance-related-area, Mathematical Finance, Economics, Mathematics, Statistics, Computer Science, Engineering or Physics

with a minimum 2.1 award at NFQ Level 8 (or international equivalent) in a. or b. above.

Applicants should have demonstrated strong academic ability (a 1.1 or 2.1) in a number of quantitative modules in their degree, such as mathematics, statistics, or econometrics.

Candidates may be asked to sit the Graduate Management Admissions Test (GMAT) subject to individual application.

English Language Requirements
If English is not your first language an English language qualification is required for admission to all of our courses. The exception to this rule is if you have completed your primary degree or an entire third level qualification through English, in an English speaking country.

Transcripts
An academic transcript is a document(s) provided by the academic institution where you undertake your studies. This is an official document which states all of the subjects you have undertaken during your studies and what grade you have achieved in each of those subjects, including your overall final grade if you have completed your qualification. Official or original academic transcripts are documents printed on the official headed paper of the institution where you studied and should be stamped by that institution. If this document is not in English you should arrange to have it translated.

Visa Requirements
Some students might have to get a student visa in order to come and study in Ireland. Regardless, all non EU/EEA and non Swiss citizens have to register on arrival with the GNIB.

Duration

1 year full-time, 2 years part-time.

Careers or further progression

The MSc in Quantitative Finance from UCD Michael Smurfit Graduate Business School is highly regarded within the financial services industry.

In 2016, 95% of our graduates from this programme were employed after 6 months across a range of industry sectors. (Source: First Destination Report 2016)

Potential careers for our graduates include:
Investment banking
Portfolio management
Trading
Quantitative analyst
Risk manager
Data Scientist

Further enquiries

The Admissions Office can be contacted at smurfit.admissions@ucd.ie.

Subjects taught

The 12-month, full-time course covers a broad range of disciplines and skill sets, whilst the personal and professional development of each student is achieved through a defined series of actions and events.

To complete the programme, students must complete ten core modules. In the summer term students can complete a research project, two option modules or in a small number of cases, apply for a limited number of possible internships. With any possible internship opportunity, students have to go through a competitive recruitment process, including interviews with employers to be selected.

Semester 1
Capital Markets and Instruments
Derivative Securities
Financial Analysis
Financial Econometrics
Financial Theory
Quantitative Methods for Finance

Semester 2
Advanced Derivative Securities
Advanced Statistical Computing Methods for Finance
Fixed Income Securities
Numerical Methods for Finance
Portfolio & Risk Management

Summer Term
Pathway A: Taught modules (choose 2 from the list below)
Advanced Treasury Risk Management
Management of Banking Institutions
Mergers and Acquisitions
Aircraft Finance
Behavioural Finance
International Finance

Pathway B: Applied Investment Management (Internship)
Pathway C: Research Project

Note: option modules listed are indicative of what has been delivered in previous years. What is offered each academic year is subject to change

Comment

Student profile
Ambitious students with an educational background in mathematics or economics and a proven quantitative talent will be ideally suited to this course, as well as statistics, physics, computer science or engineering students capable of going through mathematically rigorous finance training. If you are in full-time employment, employer support is essential to undertake the part-time option as it requires class attendance during the working day.