The University of Edinburgh and
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The University of Edinburgh and
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In recent years there have been
great changes in the global finance industry which have led to enormous
expansion in the financial sectors of many countries. One of the most
significant developments has been the dramatic increase in the volume
of trade in financial derivatives. These financial products are derived
from an underlying asset and are of great importance in trading,
portfolio management and financial management in general. One essential
ingredient in the growth of this area has been the introduction of
sophisticated mathematical tools for the pricing of such derivatives,
such as the Black-Scholes theory of option pricing. Pictured left: One of Edinburgh's financial districts. |
The increase in financial activity has seen a corresponding growth in the employment of graduates in mathematics and related disciplines by banks and investment houses. A sound understanding of the mathematics of financial modelling and derivative pricing is essential to being able to offer new products, to manage financial risks of all kinds, and potentially to give a finance house a competitive edge in the market. Creating and managing these products requires people with mathematical expertise and has opened up new career prospects for those with high level mathematical ability, understanding and knowledge.
There will be continuing development and growth in the international financial markets as they become more integrated, with an increasing need for people who understand the technical aspects of financial engineering. The work itself makes use of modern high level mathematical ideas, moving beyond the mathematics taught in a basic university degree. This course will give you the mathematical tools required to fit into investment houses involved in derivatives trading and portfolio management. More significantly it will give you the mathematical background to understand the models, their assumptions and where they break down.
Students normally register with the career services at both universities. This gives maximum access to careers presentations and to the recruitment process.
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