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Course Overview
The BSc in Financial Mathematics and Economics (BSc in FME) programme is a four-year degree programme consisting of courses in mathematics, economics, statistics/probability, applied mathematics, accounting and business finance, and computer science. The programmes aim is to equip students with expertise in quantitative subjects, with a particular focus on financial economics, actuarial mathematics and statistics. There is a high demand from financial institutions for well-qualified students with quantitative skills, and in an expanding market, highly numerate professionals are being sought, particularly in the areas of insurance, investment and finance. Typically in such employment, you would be predicting the long-term financial consequences of current and past decisions, taking account of various risk factors, and designing solutions to problems that involve financial risk or uncertainty.
The degree should appeal to people who enjoy mathematics and are interested in studying economics and other subjects in the financial area. (Please note that you do not have to study economics for the Leaving Certificate to be admitted to this course.) This degree has an advantage over other programmes, including specialised actuarial programmes, as it is broad and suits students not yet ready to specialise. The course is administered jointly by the College of Science and Engineering and the College of Business, Public Policy and Law. The entry requirements of either college may be applied, according to whichever is more advantageous to the applicant.
Key Facts
Entry Requirements
Additional Requirements
Duration
4 years
Next start date
September 2022
A Level Grades (2022)
nuigalway.ie/alevels
Average intake
60
QQI/FET FETAC Entry Routes
4 (More Info)
CAO
GY309
Course Outline
YEAR ONE
•Mathematics
• Computer Science
• Economics
• Mathematics of Finance
• Statistical Methods and Probability Models
• Mathematical Methods I
• Financial Accounting
YEAR TWO
• Differential Forms
• Intermediate Macroeconomics
• Random Variables
• Mathematical Methods I
• Intermediate Microeconomics
• Linear Algebra
• Introduction to Financial Economics
• Programming for Science and Finance
• Discrete Mathematics
• Mathematical Methods 11
• Statistical Inference
• Complex Analysis
YEAR THREE
•Applied Regression Models
• Groups
• Microeconomics and Public Policy
• Actuarial Mathematics - Life Contingencies 1, pricing & reserving
• Money and Banking
• Metric Spaces
• Economics of Financial Markets
• Macroeconomics and Public Policy
• Non-Linear Systems
• Business Finance 2
• Mathematical Modelling
• Topology
YEAR FOUR
• Actuarial Mathematics - Life Contingencies II
• Numerical Analysis
• Measure Theory
• Final Year Project
• Actuarial Mathematics - Life Contingencies 1, pricing & reserving
• Derivatives and Risk Management
• Economics electives
• Networks
• Statistical Modelling
• Differential Equations with Financial Derivatives
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Further Education
Honours graduates can pursue higher degrees in a range of related disciplines, including mathematics, actuarial science, financial economics, financial mathematics, applied mathematics, statistics and economics. Graduates have been accepted on to leading postgraduate programmes both in Ireland and in prestigious universities overseas, including the University of Cambridge, Warwick University and the University of California, Berkeley, USA. Graduates can choose to become trainee actuaries and finish the professional exams while working or complete a Masters or Higher Diploma programme in Actuarial Science before starting as a trainee actuary.To become a qualified actuary, you must satisfy the professional education and work experience requirements of the Institute and Faculty of Actuaries (IFoA), based in the UK. The Society of Actuaries in Ireland is responsible for the professional conduct of actuaries in Ireland but is not an examining body.
Actuarial Exemptions - Financial Maths & Economics
Why Choose This Course?
Career Opportunities
There are excellent employment opportunities for graduates. The demand from employers for well-qualified students with knowledge of how financial markets operate and how to use quantitative techniques to make informed investment decisions is substantial. The employment prospects from this degree programme are excellent, with challenging and financially rewarding opportunities in many different areas. These include:
Financial services – opportunities for graduates exist right across the financial services sector, in investment, corporate and private banking, in currency trading, in credit risk and in management of hedge funds. Some of the worlds leading financial firms have hired our graduates, including Goldman Sachs, JP Morgan, Merrill Lynch and Credit Suisse.
Actuarial profession – graduates can embark on a career as an actuary, working primarily in pensions, life insurance and investments. Some of our graduates in recent years have gone on to complete postgraduate actuarial studies and other graduates have gone directly to positions as trainee actuaries.
Actuarial Exemptions
Other areas – opportunities for our graduates exist in government departments and other public sector bodies, where they play key roles on issues affecting the national economy. In recent years, graduates have been hired by the Department of Finance, the Central Bank of Ireland, the Bank of England and the National Treasury Management Agency (NTMA). Moreover, because of their strong numeracy skills, graduates have also secured employment in a wide variety of different areas, for example, as economists, in accountancy, tax and law, in management consultancy and even as a sports odds compiler.
Course Fees
Fees: EU
Fees: Tuition
Fees: Student Contribution
Fees: Student levy
Fees: Non EU
EU Fees are comprised of Tuition + Student Contribution Charge + Student Levy** €140. **Payable by all students and is not covered by SUSI. Further detail here.
Find out More
Dr. Michael Hayes
Programme Director
Financial Mathematics and Economics programme
T+353 91 493698
E [email protected]
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