| Semester 2 |
C/O |
TYP |
ECTS | CATS |
|
|
ECO-20039 |
Applied Financial Analysis |
C |
M
|
7.5 |
15 |
|
|
This module is designed to familiarize students with the main techniques for modelling financial data. The module builds upon the core theory modules in finance by examining statistical applications involving CAPM, APT and market efficiency and develops univariate, multivariate regression techniques, and models of volatility in the process. Diagnostic tests widely used in empirical models of finance are described and interpreted. The module has a distinct hands-on flavour with computer lab classes offering the opportunity for students to explore key elements of financial modelling. |
|
|
ECO-20044 |
Portfolio Choice |
C |
M
|
7.5 |
15 |
|
|
The aim of this module is to provide you with a sound understanding
of the economic theories that are used to make well-founded portfolio recommendations to investors. The module builds on the earlier module Eco-20011 Asset Pricing. Students are assessed at the end of the year in a final unseen exam. During the semester students are expected to collect a portfolio on the investment strategies they will implement using a financial market simulation. |
|
|
MAT-20004 |
Complex Variable I and Vector Calculus |
C |
M
|
7.5 |
15 |
|
|
This module contains a first course on vector calculus and a first course in functions of a complex variable. Complex variable leads to elegant results in pure mathematics and both complex variable and vector calculus provide a framework for solving physical and geometrical problems. The topics covered include: complex functions, analytic functions, Cauchy&©s theorems, complex power series, singularities, the residue theorem, contour integration, differentiation of vectors, differential operators, integration of vectors, the divergence theorem and Stokes&© theorem.
|
|
|
MAT-20006 |
Stochastic Processes |
C |
M
|
7.5 |
15 |
|
|
This module examines the mathematics of random processes with particular reference to biological and social sciences. The course will include: revision of probability and distribution theory, difference equations, Markov chains, branching and Poisson processes, birth and death processes, queues, reliability and lifetime distributions.
2 hours lectures & 1 hour examples class |
| Semester 1 |
C/O |
TYP |
ECTS | CATS |
|
|
ECO-30027 |
Insurance Theory |
C |
M
|
7.5 |
15 |
|
|
This module develops the theoretical study and practical calculation of insurance premia. Students engage with the calculation of insurance premia by examining individual and collective risk theories as well as ruin theory. The application of these theoretical concepts is practised through calculating insurance premiums using software packages. |
|
|
ECO-30031 |
Insurance Statistics |
C |
M
|
7.5 |
15 |
|
|
The module enables students to study modern econometric models and statistical techniques necessary to model and measure individual risks (dichotomous risks, claim counts, and duration to loss). |
|
|
ECO-30038 |
Corporate Finance |
EP |
M
|
7.5 |
15 |
|
|
The aim of this module to introduce the necessary theoretical and practical background in finance that is used to assess financial decisions within corporations.
The module will explain what defines a corporation and how they are financed. It covers investment decisions and techniques for capital budgeting and examines risk management techniques and their applications. The impact of taxation of corporations and dividend payout policies are also examined. |
|
|
ECO-30040 |
Options and Futures |
C |
M
|
7.5 |
15 |
|
|
This course deals with the valuation and hedging of options, forward contracts, swaps and other derivatives. The pricing of options and other derivatives depends on three key factors:
1. the volatility of the underlying asset, which is discussed International Finance in the context of efficient markets;
2. the extensive use of arbitrage arguments to price assets as discussed in ECO-20011 (Asset Pricing) and
3. the present value and discounting procedures to value streams of returns as analysed in ECO-10008 (Economics for Finance) and ECO-20012 (Portfolio Choice).
Bringing these three elements together and deepening the understanding of each, it will be shown how complex derivatives, like index options, swaps and forward contracts can be analysed. Derivatives type securities such as warrants, convertibles and rights issues are used by companies and are part of the analysis of Corporate Finance. |
|
|
MAT-30003 |
Partial Differential Equations |
EP |
M
|
7.5 |
15 |
|
|
This module provides an introduction to analytical methods for solving partial differential equations (PDEs). Throughout the module focuses on PDEs in two independent variables, although generalisation to three, or more, independent variables is briefly discussed. The module begins by introducing the method of characteristics for solving first order linear and quasi-linear PDEs. This is followed by the classification of linear second order PDEs into hyperbolic, parabolic or elliptic type, with a detailed treatment of the reduction to canonical form in each case. Thereafter, the module introduces the separation of variables technique and transform methods to solve the wave, diffusion, Laplace and Poisson equations. These PDEs are frequently encountered in many branches of applied mathematics, including fluid dynamics, mathematical biology, financial mathematics and electromagnetism. Finally the module introduces the technique of eigenfunction expansions for solving inhomogeneous PDEs, and the powerful technique of Green&©s functions. |
|
|
MAT-30008 |
Mathematical Programming |
EP |
M
|
7.5 |
15 |
|
|
Mathematical programming involves maximizing or minimizing a real function of several variables subject to a list of constraints. It is a major branch of Operational Research, where the formulation is typically a model of an organizational problem; although there are many applications in the social and natural sciences and also in other areas of mathematics. The module studies the mathematical underpinnings of various algorithms for solving different classes of problem, with a strong emphasis on linearity. Some specific applications are mentioned, but the module deals primarily with theory and methods. The work builds upon the account of the Simplex method given in MAT - 10005; this material will be assumed. |
|
|
MAT-30021 |
Numerical Analysis |
EP |
C
|
7.5 |
15 |
|
|
This module is concerned with the analysis of numerical methods, concentrating on how to select a suitable method and analyse the results produced, rather than on programming the methods themselves. Substantial use is made of technology in terms of existing teaching packages, computer algebra and hand held technologies, all of which provide transferable skills. There are regular computer laboratory sessions at which students will be expected to use any and all of the methods introduced in lectures. |
| Semester 1-2 |
C/O |
TYP |
ECTS | CATS |
|
|
ENL-90003 |
Academic English for Business Students (Part 1) |
EA |
C
|
7.5 |
15 |
|
|
Drawing on themes and materials used within KMS modules these sessions will further develop your ability to read more efficiently and write more effectively. Classes will focus on developing your ability to identify key points and arguments within a text, and to utilise techniques to communicate ideas in both written and spoken formats. |
|
|
ENL-90004 |
Academic English for Business Students ( 2) |
EA |
C
|
7.5 |
15 |
|
|
Drawing on themes and materials used within KMS modules these sessions will provide opportunities for you to increase your ability to read more challenging texts more efficiently and write in a more sophisticated manner. Classes will focus on further development of techniques to enable you to identify key points and arguments within lengthy texts and to utilise your understanding of language and structures to communicate these ideas as well as your own views. |
| Semester 2 |
C/O |
TYP |
ECTS | CATS |
|
|
ECO-30026 |
Game Theory |
EP |
M
|
7.5 |
15 |
|
|
The module introduces students to the methods of game theory, enabling them to gain an understanding of strategic interaction, knowledge of which is fundamental in understanding modern literature in a variety of disciplines, including Economics, Politics and Biology.
Although the subject will cover some elements of abstract modelling, topics will be introduced on an examples-led basis, with the emphasis on applicability of the theory to real life.
|
|
|
ECO-30030 |
Topics in Theoretical and Applied Actuarial Science |
C |
C
|
7.5 |
15 |
|
|
This module develops students' knowledge of the latest research in Actuarial Science and encourages them to critically analyse current themes. The teaching includes talks by practitioners and academics. |
|
|
ECO-30041 |
Contingencies |
C |
M
|
7.5 |
15 |
|
|
The objective of this module is to extend the deterministic analysis of Contingencies presented in Fundamentals of Actuarial Science (Eco10018) to the stochastic case. |
|
|
ECO-30042 |
Independent Study Project (single semester version) - ISP |
C |
C
|
7.5 |
15 |
|
|
The independent study project in Actuarial Science requires students to focus on a narrow aspect of the literature, design a research project and convey their results in a 4000-5000 word project report. |
|
|
ECO-30043 |
Economic and Business Forecasting - ISP |
EA |
C
|
7.5 |
15 |
|
|
The ability to analyse quantitative information and produce and evaluatate forecasts is a highly prized skill in business and industry. This module is designed to familiarize you with a variety of methods and techniques used for forecasting economic and business data and their use in economic and business decision-making.
The module will consider, in turn, applications and merits of various smoothing methods, time series decomposition, univariate time series and structural modelling forecasting methods. Methods of forecast evaluation will also be examined. The module is hands-on and students will learn how to apply the various forecasting techniques using real data. The module will develop further IT skills associated with the use of Stata and other software packages.
Module assessment is based upon completion of a report comprising of three forecasts produced independently. |
|
|
ENL-90005 |
Advanced Business English Communication |
EA |
C
|
7.5 |
15 |
|
|
In this highly competitive climate you need something to set you apart from others.
This module will provide you with the specialist language and professional
communication skills you will require if you wish to pursue a career in
business.
This highly practical module will build upon and complement your existing
language skills by working on themes such as, negotiating strategies and
presenting visual information. Using case studies you will practise
identifying and clarifying information, constructing counter-arguments, and
providing evidence verbally and in writing. Revision of essential
grammatical structures and functional areas of language as well as building
a subject-specific bank of key words will provide you with the confidence to
engage fluently and competently in numerous business contexts.
On completion of this module you may wish to to attain an additional English language qualification. If so, you have the option of attending our (BEC Higher) Preparation Course which will prepare you to take the highly sought after, and internationally recognised Cambridge BEC ( Higher ) Certificate in Business English Communication Examination . This is offered after the Keele examination period in April when you have completed your principal courses.
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