This course covers the application and development of computer technologies as used in banking and financial systems, as well as financial and economic principles.
This course provides knowledge in key areas involving three subjects:
- Computing
- Economics
- Finance
Together they offer a unique combination of expertise required for a successful career in the financial sector. This MSc offers a choice of computing modules so that the student can adapt the course to their previous computing experience.
The course has a distinct international dimension as financial markets today are international in scope: trading in equities, bonds, derivatives and other securities occurs across borders and on a global scale. It emphasises the key characteristics of today's globalised financial world.
Course objectives
The MSc in Computing for Financial Markets is an intensive 12-month course for those who wish to obtain an up-to-date knowledge on key computing technologies as used by the financial sector, including:
- Decision Support Systems
- Object Oriented Design and Programming
- Computer Security and Forensics
The course further includes key financial and economic topics, such as:
- Financial Economics
- The Pricing and Use of Derivative Financial Products
- Portfolio Management
The MSc in Computing for Financial Markets will significantly enhance the employment prospects of students. Career prospects for computing postgraduates in the financial sector are excellent. You will have acquired expertise in the computing, financial and economics fields making you an ideal candidate for positions in the financial sector. You will have gained specific vocational skills in the design and development of computer applications and networks plus expertise in financial tools and markets.
Entrance requirements
Applicants normally require a first or second class Honours degree from a British university, or an equivalent qualification from an institution recognised by the University.
English language requirements
If English is not your first language, you must provide evidence of your proficiency such as a minimum IELTS score of 6.0 (minimum 5.5 in each skill), or TOEFL: Listening 21, Reading 22, Speaking 23, Writing 21.
Funding
This course is currently approved for PTFL (Postgraduate Tuition Fee Loan) funding from SAAS, full details of how to apply for PTFL can be found here: http://www.stir.ac.uk/postgraduate/financial-information/scholarships/#PTFL
Full details of the PTFL fund and how to apply online can be found here: www.saas.gov.uk
For further information on possible sources of funding, visit: http://www.stir.ac.uk/postgraduate/financial-information/
Modes of study
Full-time: MSc: one year; Diploma: nine months
Course start date
September
Structure and content
The course comprises three elements: two 15-week semesters of taught modules and a three-month dissertation. Semester 1 concentrates on fundamental techniques. Semester 2 integrates, develops and applies these skills. In each semester there is a choice of computing modules to enable you to adapt the programme to your previous computing experience.
In the Semester 1 you will take the following two core modules:
- Financial Economics: Financial instruments and how they are traded; the major topics in financial economics including portfolio theory, the pricing of bonds, stocks, and other financial instruments
- Quantitative Methods in Finance: The statistical and computing skills necessary to understand fully and perform modern financial analysis
Plus one elective from:
- Principles and Practice of Programming: The design and testing of programs written in Java. You will study good practice in program construction, programming with data structures and graphical user interfaces
- Technologies for eCommerce: Provides an in-depth understanding of the how to use Java servlets and JSP to implement an ecommerce website server
Plus one elective from:
- Database Principles and Applications: Provides a critical understanding of the role of database management systems and the ability to creatively design and implement practical databases
- Computer Security and Forensics: Covers the principles of computer security and their application to forensic analysis, in particular confidentiality, integrity, and availability
During the winter break there is an extended programming assignment using Java.
In the Semester 2 you will study two core modules:
- Derivatives: Provides an understanding of the uses and the valuation of the main derivative financial instruments. It covers the trading mechanisms used on derivative markets and explains the fundamental principles underlying the pricing of derivatives and their use in portfolio management, and risk management
- Investments and Portfolio Management: Provides an understanding of portfolio management principles and the valuation of equities and fixed-interest securities
Plus two electives from:
- Decision Support Systems: IT methods and techniques in the support of decision-making in organisations, in particular modelling, simulation and intelligent decision support systems
- Networking and Technologies for eCommerce*: Discusses computer networks and their layered architecture. You also study web scripting using PHP, Java script and XML
- Networking*: Investigates the principles of data communications, including layered network architecture, services and protocols
- Object-oriented Software Design: How to analyse and model requirements and develop object-oriented software, through the use of UML and CASE tools
- Communication Systems and Services: Covers the underlying concepts of Voice over IP communications architectures, web service provision and its role in commercial applications, as well as the principles of applications for mobile phones
* Only one of these modules can be selected.
You may graduate with the Postgraduate Diploma after two semesters, or you may continue with a three-month project and dissertation to qualify for the MSc degree. The subject of the dissertation will usually be a computer application for a financial purpose.
Delivery and assessment
Students will learn about computing, finance and economics topics through lectures, tutorials/seminars and practical sessions. Lectures involve the whole class, while tutorials and practicals are for small groups. Practical work is a key component in our degrees, and provides the opportunity for hands-on experience. It builds from self- contained tasks in the first semester, over a larger programming assignment in the winter break to a group project in Semester 2.
Finally, you will embark on a three-month project working on your dissertation topic. At the end of the project you will write up your findings as your MSc dissertation. For the MSc projects, we will make a number of industrial placements (usually unpaid) available. These will be offered to the best students in the class. Other project suggestions both from external bodies and from within the University are also offered. Furthermore, students' own ideas for projects are encouraged and welcomed. Often students bring in their previous expertise.
Preparation
Contact the School for information on your timetable and reading lists.
Course Director
Dr Mario Kolberg
RAE rating
In the most recent Research Assessment Exercise (RAE), 90 percent of research in Computing Science and Mathematics at Stirling was graded as ‘Internationally Excellent’, with the top five percent of that judged to be 'World-leading’.
Our students
I enjoyed my time as an MSc student at the University of Stirling very much. The student support services are extremely helpful and effective to assist you when settling in. Apart from the academic quality, the University of Stirling deserves to get the reward of the most beautiful campus in the world. The MSc was taught by very friendly and helpful academics. As an MSc student of this University I was very happy with the lecture theatre and laboratory quality and this helped me to get the most out of my course. I have successfully completed my MSc and have since embarked on studying for a PhD in Neuroinformatics in the computing science department. It is truly an amazing place to live, work and study.
Madhurananda Pahar
In the National Student Survey 2011, Computer Science at Stirling was top in UK, scoring 100% student satisfaction for the quality of its courses.
Career opportunities
The MSc in Computing for Financial Markets will greatly enhance the employment prospects of students. As a graduate of Computing for Financial Markets, you will be in demand in a range of sectors including banks, insurance business, IT software organisations, and service enterprises.
Previous postgraduate students have been very successful in obtaining suitable employment in the computing field in a considerable diversity of posts - some with small companies, others with major organisations such as HBOS, Prudential and RBS, with Local Authority and Government bodies. A number of graduates of the MSc Computing for Financial Markets have continued their studies towards a PhD.
