Programme Information - Taught Postgraduate Programmes (TPg)

MSc Mathematics for Finance and Actuarial Science

金融與精算數學理學碩士

Year of Entry	2013
Mode of Funding	Non-government-funded
Programme Code	P62
Mode of Programme	Combined ^†
Class Schedule	Weekday evenings, Saturday afternoons plus intensive mode (i.e. 39 hours to be taught in 7 weeks in Semester A/B or 5 weeks in Summer Term)
Indicative Intake Target	90
Minimum No. of Credits Required	30
Normal Duration of Programme	Full-time: 1 year (2 semesters); Part-time: 2 years (4 semesters)
Maximum Study Period	Full-time: 2.5 years; Part-time/Combined mode: 5 years
Programme Website	Click here to open
Tuition Fee	Click here for more information
Application Deadline	31 Jan 2013 (Local & Non-local)
Mode of processing	Applications are processed on a rolling basis. Review of applications will start before the deadline and continue until all places are filled. Early applications are therefore strongly encouraged.
Programme Leader	Prof D X ZHOU PhD (Zhejiang)
Deputy Programme Leader	Dr Q S SONG PhD (Wayne State University)
General Enquiries	+852 3442 8441 (Phone) +852 3442 0250 (Fax) msmfas@cityu.edu.hk

Remarks: This programme is jointly offered by City University of Hong Kong and Université Paris-Dauphine.

† Combined mode: Local students taking programmes in combined mode can attend full-time (12-18 credit units per semester) or part-time (no more than 11 credit units per semester) study in different semesters without seeking approval from the University. For non-local students, they will be admitted to these programmes for either full-time or part-time studies. Non-local students must maintain the required credit load for their full-time or part-time studies and any changes will require approval from the University.

Email to Friend

Programme Outlines

Programme Aims and Objectives

This programme aims to

produce analytic, business-aware graduates with solid background in financial engineering,actuarial science and risk management;
equip students with theoretical knowledge, statistical methods and computational skills for developing financial and actuarial services within international business context;
integrate mathematical skills acquired in the curriculum with contemporary finance theory and information technology;
develop competence in an ability of applying mathematical and computing techniques to practical problems of quantitative finance and actuarial science; and
train students up to an academically qualified level for a professional career in finance and actuarial science.

Entrance Requirements

To be eligible for admission, you must satisfy the General Entrance Requirements and the following programme specific entrance requirement:

have a first degree or a postgraduate degree in science and engineering (Mathematics, Physics, Statistics, Computer Science, Engineering etc), or in a related discipline (Economics, Finance, Actuarial Science); or equivalent.

Applicants whose entrance qualification is obtained from an institution where the medium of instruction is not English should also fulfill the following minimum English proficiency requirement:

TOEFL score 550 (paper-based test) or 213 (computer-based test) or 79 (internet-based test); or
Overall band 6 in International English Language Testing System (IELTS); or
Score 450 in the new College English Test (CET-6) of Chinese mainland or a pass in the old CET-6 test; or
Other equivalent qualifications.

Course Description

The programme consists of two streams:

General Stream
Financial Computing Stream

Students are required to complete a minimum of 30 credit units.

Course Type	General Stream	Financial Computing Stream
Core courses	12 credit units	15 credit units
Electives	18 credit units	15 credit units
Total:	30 credit units	30 credit untis

Students are required to take the core courses specified for the relevant streams stated below:

Core courses	General Streams	Financial Computing Stream
Actuarial Science	√	-
Computer Programming	-	√
Investments	√	√
Mathematical Methods for Finance and Actuarial Science	√	√
Numerical Methods	-	√
Programming and Computing in Finance and Actuarial Science	√	√

Students are required to select courses from a pool of elective courses listed below available for the relevant streams:

Electives	General Stream	Financial Computing Stream
Actuarial Science	-	√
Advanced Actuarial Science	√	√
Advanced Database Systems	-	√
Advanced Mathematical Methods for Finance and Actuarial Science *	√	√
Applied Partial Differential Equations	√	√
Dissertation	√	√
Internet Application Development	-	√
Mathematical Methods for Risk Management	√	√
Mathematical Models and Methods in Asset Management *	√	√
Model Calibration in Finance and Actuarial Science	√	√
Numerical Methods	√	-
Numerical Partial Differential Equations	√	√
Option Pricing	√	√
Seminars in Mathematics for Finance and Actuarial Science	√	√
Special Topics in Actuarial Science	√	√
Statistical Methods for Stochastic Models in Finance and Actuarial Science *	√	√
Statistical Methods in Science and Technology	√	√
Stochastic Interest Rate Models	√	√

* Students (General Stream) are required to take at least two of these three electives during their studies.

A pool of addition electives from the Departments of Computer Science, Economic and Finance and Management Sciences is also available for selection.

Professional Accreditation

For students who are interested in actuarial business, the courses of this programme are designed to help them take actuarial examinations offered by the Casualty Actuarial Society, the Society of Actuaries and the Canadian Institute of Actuaries. These three actuarial societies are the major international actuarial education and examination bodies.

Did You Know?

This programme is the first postgraduate programme in Hong Kong covering knowledge in both financial engineering and actuarial science.
This is a joint degree programme between City University of Hong Kong and Université Paris-Dauphine of France. The award is issued jointly by both universities. The Université Paris-Dauphine is worldwide well known, especially in the areas of financial engineering and actuarial science.
Professors from France will come to Hong Kong to deliver courses in this programme. Students from Université Paris-Dauphine will also come to Hong Kong to join this programme.
As China enters WTO, there is a large demand and great opportunities for actuaries.

Useful Links

Course Descriptions
Department of Mathematics
College of Science and Engineering