Bachelor of Science (BSc)
BSc Actuarial Science and Mathematics
- Typical A-level offer: A*AA including specific subjects
- Typical contextual A-level offer: A*AB including specific subjects
- Refugee/care-experienced offer: A*BB including specific subjects
- Typical International Baccalaureate offer: 37 points overall with 7,6,6 at HL, including specific requirements
Fees and funding
Fees
Tuition fees for home students commencing their studies in September 2025 will be £9,535 per annum (subject to Parliamentary approval). Tuition fees for international students will be £34,500 per annum. For general information please see the undergraduate finance pages.
Policy on additional costs
All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).
Scholarships/sponsorships
The University of Manchester is committed to attracting and supporting the very best students. We have a focus on nurturing talent and ability and we want to make sure that you have the opportunity to study here, regardless of your financial circumstances.
For information about scholarships and bursaries please visit our undergraduate student finance pages and our Department funding pages .
Course unit details:
Foundations of finance: Investments and the time and value of money
Unit code | MATH11911 |
---|---|
Credit rating | 10 |
Unit level | Level 1 |
Teaching period(s) | Semester 1 |
Available as a free choice unit? | No |
Overview
The module will be methods-based, with examples throughout based on the financial products described in the introduction section. It is appropriate for first year Actuarial Science and Maths with Finance students, as well as being an option for second year Mathematics students. The unit aims to improve students’ financial literacy, as well as achieving the stated ILOs. Taking current examples from the news/ comparing real financial products will empower students to evaluate real financial decisions they will encounter in their lives. Students will consider social responsibility as it relates to investing, and the implications of financial risks.
Aims
The unit aims to:
- Enable students to evaluate and compare financial products that they will encounter in their everyday lives (savings, loans, mortgages, pensions, bonds, investments, etc), considering tax, inflation, yield, payback periods and profits.
- Consider social responsibility, risks, false advertising and other factors when making financial decisions.
- Teach students about the immunization of liabilities and assets.
Learning outcomes
On the successful completion of the course, students will be able to:
- State the cash flow from descriptions of different financial projects such as savings accounts, loans, bonds and investment schemes.
- Calculate and convert between compound interest, p-thly payable interest, the force of interest and accumulation/discount factors.
- Use a cash flow to state, manipulate and simplify expressions for the net present value and accumulated profits.
- Assess and compare financial projects by calculating yields, discounted payback periods, and accumulated profits.
- Identify and discuss practical and ethical considerations that may impact financial decisions, such as investment limits, market volatility, access to capital and social responsibility factors.
- Examine whether a pension fund can be immunized, by evaluating functions of its assets and liabilities.
Syllabus
- Introduction – basics of financial products (some commonplace and some from finance) and cashflows
- Interest rates, accumulating and discounting, tax and inflation
- Yield, DPP and profit – including evaluating and comparing projects
- Immunization
Teaching and learning methods
The main content delivery will be via two interactive lectures per week.
There will be notes, quizzes, example Excel calculations, copies of the lecture materials and tutorial sheets on Blackboard.
There will be one tutorial per week. The students will attempt a sheet of exercises before the tutorial class. In the tutorial class, some questions from this sheet will be discussed and additional new exercises will be covered.
Assessment methods
Method | Weight |
---|---|
Written exam | 70% |
Written assignment (inc essay) | 30% |
Feedback methods
Exam: Generic feedback supplied after exam period
Coursework: Marked on gradescope and model solutions released 0-2 weeks after assessment
Recommended reading
Steven J. Garrett, An introduction to the mathematics of finance: a deterministic approach
Study hours
Scheduled activity hours | |
---|---|
Lectures | 22 |
Tutorials | 11 |
Independent study hours | |
---|---|
Independent study | 67 |
Teaching staff
Staff member | Role |
---|---|
Rose Wagstaffe | Unit coordinator |
Holly Barker | Unit coordinator |