Subjects overview
This program can be completed in 1 year 4 months (4 semesters)
Required Subjects
Students must complete the following one hundred and twenty credit points (120CP) of subjects.
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ACCT71-100: Accounting Principles (10CP)
This subject introduces students to accounting concepts, procedures, and influences under which basic financial statements are prepared, and focuses on how financial and business information is used for decision-making by various stakeholders. Students are also introduced to concepts of governance, social responsibility, business ethics, and the ethical standards expected of accountants, and they will integrate this knowledge to make decisions and solve problems in a range of complex, contemporary business situations. The use of both manual and computerised accounting systems is explored, and the use of other contemporary business software platforms will develop technology skills which are fundamental to accounting practice.
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ACSC71-200: Mathematical Statistics (10CP)
This is an intermediate level subject in the theory and practice of statistical inference. It extends STAT11-112 in the areas of probability and distribution theory, discrete and continuous random variables and joint distributional behaviour, as well as introducing principles of likelihood theory, estimation, confidence intervals and hypothesis tests. In addition, topics such as moment and cumulant generating functions are introduced, as well as an introduction to random sums and Central Limit Theorem based large-sample distributional approximations.
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ACSC71-201: Financial Mathematics (10CP)
This subject offers a foundation in compound interest theory which underpins a number of common financial calculations. This theoretical knowledge is supplemented with application to a variety of valuation and investment decisions. An introduction to simple stochastic models is also provided.
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ACSC71-301: Contingencies (10CP)
This subject is designed to develop mathematical techniques which are used to model and value cash flows that are dependent on events such as death, survival, illness and retirement. The breadth of topics covered provides students with the principles and practical skills required for a variety of life insurance applications, including pricing of life Insurance, assurance and annuities, reserving, assessment of profitability and defined benefit pensions.
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ACSC71-305: Actuarial and Financial Models (10CP)
The aim of this subject is to provide a grounding in the principles of modelling as applied to actuarial work – focusing particularly on stochastic asset liability models and the valuation of financial derivatives. These skills are also required to communicate with other financial professionals and to critically evaluate modern financial theories.
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ACSC71-306: Stochastic Processes (10CP)
The focus of this subject is stochastic processes that are typically used to model the dynamic behaviour of random variables indexed by time. The close-of-day exchange rate is an example of a discrete-time stochastic process. There are also continuous-time stochastic processes that involve continuously observing variables, such as the water level within significant rivers. This subject covers discrete Markov chains, continuous-time stochastic processes and some simple time-series models. It also covers applications to insurance, reinsurance and insurance policy excesses, amongst others.
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ACSC71-307: Survival Analysis (10CP)
The focus of this subject is analysing the time until an event happens, such as the illness or death of a person, or the failure of a business. The issue of censored data is common in such scenarios and how to handle censored data will be discussed throughout this course. The theory, estimation and application of a variety of survival models for censored data are covered, spanning parametric, semi-parametric and non-parametric models. Machine learning methods suitable for censored data are also covered.
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ECON71-100: Principles of Economics (10CP)
An introduction to economics for postgraduate students, with a focus on microeconomics. An overview of fundamental topics such as opportunity cost, trade-off, relative scarcity and marginal analysis are explained using contemporary issues, including minimum wages, carbon taxes, competition policy and state ownership of monopolies. The underlying structure of macroeconomics is also included to provide a framework for understanding the economy as a whole and the news and policy that affects it.
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ECON71-200: Linear Models and Applied Econometrics (10CP)
Econometrics is a sub-discipline of both statistics and economics and presents one interface between statistical theory and the real world. It provides the tools with which to test hypotheses and to generate forecasts of business activity. Topics include the classical regression model, remedial measures for violation of regression assumptions, binary choice models, panel data models and their applications. The technique such as hypothesis testing and its application will allow students to specialise in areas such as market research and other disciplines. The skills that students will develop in this subject are crucial in any applied work and will constitute an essential ingredient in most jobs in the field of business application, whether in the public or private sector.
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ECON71-202: Macroeconomics (10CP)
Why are economies unstable? Can globalisation benefit all? How do we achieve a sustainable economy? Does inequality undermine macroeconomic performance? Macroeconomics provides the tools to understand these and many other questions facing entire economies. Unlike microeconomics which examines the economic actions of individual households, firms or industries, macroeconomics considers the economy as a whole. Understanding and explaining the importance of national income, monetary systems, employment, economic productivity and international trade are all central to this subject. You will also learn to explain and interpret current economic conditions and evaluate the short-term and long-term consequences of various macroeconomic interventions (e.g., tax levels, monetary supply, tariffs).
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FINC71-301: Advanced Corporate Finance (10CP)
This subject bridges the gap between financial theory and practice through the in-depth examination of an organisation’s three key financial decisions – the investment (i.e., capital budgeting), the financing (i.e., capital structure) and the payout (i.e., dividend). This is undertaken within the context of responsible corporate governance, supported by appropriate quantitative models and applied through contemporary case studies focusing on boardroom decisions.
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FINC71-303: Portfolio Analysis and Investments (10CP)
In this subject, students explore the fundamentals of investment analysis, asset allocation, and portfolio management. The subject will also introduce various investment vehicles, including stocks, bonds, mutual funds, ETFs, and alternative investments to provide students with a solid understanding of the principles of investments and portfolio management. Theories underlying asset pricing models, efficient market hypotheses, behavioural finance, and modern portfolio theory are examined throughout the subject. Students will develop customized investment strategies that demonstrate innovative thinking in response to both investor mandates and evolving economic scenarios.
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Study plan
Take the guess work out of planning your study schedule. Your program's study plan has been carefully curated to provide a clear guide on the sequential subjects to be studied in each semester of your program. Your study plan is designed around connected subject themes to equip you with the fundamental knowledge required as you progress through your course.
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