Warwick MORSE Regulation
Warwick MORSE Regulation
GENERAL INFORMATION
This booklet is a guide prepared by the Department of Statistics for students on the
MORSE degrees (Y602, and G300). The official statement of degree regulations is
set out in the current issue of the University of Warwick Course Regulations
Handbook which is available for consultation in the Library. A further extremely
valuable source of information is the Universitys online information site (insite)
available at: http://www2.warwick.ac.uk/insite/. From here there are links to all
student information and specifically to my.warwick where you can access
information and resources that are personal to you.
You should retain this booklet, as you will need to consult it from time to time
throughout the year. You may also need it when you apply for exemptions from
various professional examinations. It is expensive to produce and if you require a
replacement you will have to download it from the web page at your own expense.
1.1 Background
Over the past thirty years mathematics has begun to realise some of its enormous
potential, for application in management, finance, industry, government, education,
medicine and other areas. Consequently, the demand for people skilled in
mathematics and its applications has accelerated rapidly. It was in response to this
demand that MORSE was created and more recently, the 4-year integrated Masters
degree.
MORSE and the integrated Masters degree are honours degrees involving four
departments: Mathematics, Statistics, Economics, and the Warwick Business School.
Students following these degrees are exceptionally fortunate in that all four
departments have been consistently graded very highly in the exercises undertaken by
HEFCE to assess the quality of university research.
The degrees are administered by the Statistics Department. They provide fully
integrated courses leading to a solid grounding in the four component subjects and
offer an excellent basis for a multitude of careers.
1.2 Aims
The MORSE and the integrated Masters degrees set out to provide three things.
Firstly, courses which will stimulate interest in mathematical concepts, with
particular reference to the major application areas. Secondly, to improve the quality
and quantity of mathematically skilled people working, researching and teaching in
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these areas and thirdly, to satisfy the needs of those students who seek a continuous
development of mathematics from school through university to postgraduate
application.
In common with other mathematical science degree courses at Warwick we aim to:
Detailed objectives for each year are to be found at the start of the relevant section.
The first two years of this three year MORSE degree follow a (mainly) fixed set of
courses, laying the foundations of the four main subjects. For part of the first two
years, and the whole of the third, students are free to choose from a wide range of
topics. Final year students can elect to specialise in one or two of the main subject
areas or can continue a balanced programme by selecting topics from all four
departments.
The first two years of this four year integrated Masters degree follow that for the BSc
degree. From the third year onwards, students specialise in one of the following four
areas:
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1.5 Careers
Naturally, there is a correspondingly wide choice of career opportunities for MORSE
graduates in the spheres of application described above. See Section 6 of this Course
Guide for detailed information on Careers. Students interested in the possibility of
pursuing a career as an actuary should note that the MORSE/integrated Masters
degrees are well received and can exempt them from a number of examinations (see
section 6.9).
The main form of teaching is the traditional lecture course. (No one has yet come up
with a better alternative, although a few students do work better from books).
Lectures are usually very condensed and you are unlikely to understand everything
the lecturer does at the time. As a result, most lecture courses in the first two years
are supplemented by tutorials, supervisions, seminars or classes (the name varies
according to the department concerned). Because the number of students in each
group is usually quite small, these tutorials form your main opportunity for asking
questions and clearing up difficulties. If you are not satisfied with your subject tutor
then arrange with the appropriate Undergraduate Support Officer to change groups.
Most lecturers hand out question sheets; if there are any questions you cannot answer,
you should use the tutorials to ask about these as well.
For first year students the Mathematics Department arranges supervisions of one hour
per week with a research student. These supervisions cover all Mathematics courses.
For other courses and departments, the arrangements are usually made by individual
lecturers. The lecturing style in Economics is somewhat different from that of other
departments. Background reading and the preparation of additional notes which
amplify and explain the lectures are usually essential.
Of course, you are not forced to attend lectures or tutorials. However, if a candidate's
examination mark is near a borderline between two grades, evidence that they have
worked hard and consistently throughout the year can affect the outcome of an
examiners meeting.
Every student has a member of staff assigned as their personal tutor. Your tutor is
there to help sort out any problems connected with your university career, and you
must make a point of seeing them at least twice a term, (the first week and last
week) so that they know how you are getting on. You must respond promptly if they
ask to see you and it is advisable to keep your personal tutor informed of any
academic or personal problems.
Some specific ways in which your personal tutor can help are:
Advertise two office hours each week, starting on the half-hour, when students
can consult them.
Communicate with their students regularly, including via email.
Be available in the event of an emergency.
In addition your personal tutor has certain formal duties to represent you at exam
boards and in disciplinary matters.
Should you wish to change your personal tutor for any reason, please email the
Academic Administrator, Mrs Hilda Cooper ([email protected]) who will
arrange a meeting to discuss this with you.
The Statistics SSLC administers a mentor system, where older students help first year
students settle in to their university life. A mentor provides an informal point of
contact to students where they can ask questions about their course, modules and
wider university issues such as nights out, accommodation, societies and sports.
The mentor system in no way replaces the Personal Tutor system. Students must
meet with their personal tutors at least twice a term and keep their personal tutors
informed of any academic or personal problems.
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Student Monitoring Scheme
As well as supporting your academic studies, the preparation of assessed work and
your active participation in seminars and tutorials will also help you develop skills
which will be invaluable in your later career and in job applications and interviews.
These, "personal transferable skills'' include the ability to write clearly and concisely,
to explain your work clearly to others and to present your work in a professional
manner through the use of word processing and other computer packages.
After completing your degree you will have:
Acquired basic skills in IT and had the opportunity through the choice of options
and other activities to develop these further.
Acquired independent study and working skills.
If you feel in any doubt about your study skills you should consult your personal
tutor, seek advice from the University Senior Tutor's office, and look out for notices
advertising special study skills sessions which are posted on departmental notice
boards.
http://www2.warwick.ac.uk/fac/soc/al/learning_english/
You might like to consider using the Undergraduate Skills Programme (USP) to
develop your personal, academic and career management skills, improve your marks,
impress potential employers and network with other Warwick students. The USP is
free and available to all Undergraduates at Warwick.
The Warwick Skills Workshops (WSW) are a series of skills specific workshops
designed to enable you to develop your personal, academic and career management
skills. Each workshop will focus on a specific skill area and help you to enhance
your confidence and competence in that area. At the end of the academic year you
will receive a certificate of attendance listing each workshop you have attended. For
further information see: http://www2.warwick.ac.uk/services/skills/usp/workshops/
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2.8 The Library
The department expects to be able to communicate with you via your University
email - and you should check your account regularly. Please go to the University's
Information Services to find out more. You should also check your pigeonhole and
Departmental notice board at least once a day.
The Department of Statistics has a Staff Student Liaison Committee covering its
entire undergraduate programme. The committee brings together a group of
academic staff with approximately fifteen elected student representatives selected
from each year of each degree course. The electoral process is designed to ensure
that the views and interests of male and female students, from both the UK and
overseas, are fairly represented. The SSLC meets twice a term to discuss a variety of
academic issues, student welfare and social activities.
The SSLC is one of the most important places for staff and students to evaluate and
comment on the teaching, the resources, the student guidance and support, and the
social environment provided to undergraduates by the department. Its key functions
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include:
The effectiveness of the SSLC depends largely upon the ability of student
representatives to reflect the problems and interests of all students, but also upon the
willingness of students to approach their representatives. We hope that you will be
prepared to identify problems and make suggestions that your representatives can
raise at meetings of the SSLC, and that you want to find out about the committees
discussions and activities (see SSLC notice board).
Introduction
Student feedback is important to the department. Lots of feedback is given
informally to personal tutors and lecturers (and this is very useful to us), but there is
also a formal mechanism for collecting it.
Halfway through, and at the end of the lecture courses taught by Statistics staff, you
will be asked to complete a questionnaire (feedback form). This gives you the
opportunity to express your view on various aspects of the course. However,
feedback is only useful if it is provided in a considered and thoughtful way. These
notes have been prepared to answer some of the questions students often ask about
the feedback process, and to help ensure that the feedback you give provides a really
helpful input to the Statistics Departments teaching. Please take a few minutes to
read them.
The Department is constantly looking for ways to improve the learning experience
we provide for our students. We can only do this if you let us know your reactions to
our courses not only to identify problems, so that members of staff can take steps to
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eliminate them, but also to learn about the things you find helpful, so that we can
disseminate best practice in teaching and learning throughout the Department and
further.
You are accustomed to being on the receiving end of feedback when your work is
returned with comments from the marker. If you think about what you do like and
dont like as feedback on work, you will be in a good position to provide helpful
feedback on courses. Here are some points to start you thinking:
Mention the positive as well as the negative: It is always good to know what you
got right and discouraging to read comments on work which only mentions what
went wrong with it. When a lecturer is doing something well, and you let them know
that, then it gives them encouragement to do it again. So when you comment on a
course, try to mention any features which you particularly enjoyed or found helpful.
Be honest with yourself: People often talk about teaching and learning to show
that the educational process requires participation from two people the teacher and
the student. You cannot expect to get full benefit from a course if you simply attend
lectures and do the assessment you need to do the course reading, participate fully
in example classes, etc. So before you indicate that you did not get much out of a
course, ask yourself honestly what you put in.
Try to separate personality from content: During your time at Warwick you may
be taught by several dozen members of staff. It would be surprising if you liked all
of them equally as people, or if there werent some who had habits and mannerisms
which irritated you! But try to keep your reaction to lecturers personalities separate
from your reaction to their teaching. Its possible for you to regard someone as
extremely irritating but still get a lot out of their teaching.
Be considerate: Lecturers are people with feelings just like students. Sometimes
you may need to be critical of aspects of a course, but you should try always to offer
criticism in a sensitive way. Comments such as X is the worst lecturer Ive ever
had are neither useful nor constructive.
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Be conscientious: PLEASE complete feedback forms for all your courses. If we
only get a small number of forms returned, then we may well get a biased idea of
students views and that idea may not coincide with yours. So dont lose your
opportunity to be heard!
What happens to the feedback?
Think about where your interests lie and what the module might lead to later.
Check the prerequisites.
You can try a module and deregister later if you decide not to offer it for
examination.
Talk to your personal tutor and to your friends (especially those who have taken
the module before!).
The method of calculating the overall examination mark (see below) gives credit
for taking extra options - but an extra module is a big commitment and you must
be careful not to take on too much.
Final year students are not allowed to register for first and second year modules.
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Some specific advice for second year MORSE students on the integrated
Masters:
Every stream will require the use of the statistical language S in the third year
(and for many projects in the fourth year). The language is taught in the
optional second year course ST215 Forecasting and Control. If you do not do
this course, then you will have to become familiar with language S on your
own. There will be notes available from the department; also the programme is
on the campus network and can be purchased from IT services for a token
amount.
The mathematical models used in Financial Mathematics make very extensive
use of stochastic processes. Indeed the whole subject is a combination of
knowledge about finance and financial instruments, probability theory and
stochastic processes (for the mathematical models) and statistics (for fitting
models to data). It follows that if you are contemplating a career in this area,
then you should take the second year optional course on ST202 Stochastic
Processes.
The second year module MA244 Analysis III is useful preparation for certain
theoretical modules in the final two years of the integrated Masters.
Unusual Options:
To take a module as an unusual option you need to fill in an Unusual Option form
available from outside the Statistics Undergraduate Office. You will need the
agreement (and signatures) of the module organiser, your personal tutor and the
Undergraduate Course Director. Don't be put off by this - it's quite straightforward.
In most cases there are no problems in obtaining everyone's agreement however there
are some restrictions that you should note:
1. First and second year modules may not be taken by final year students with the
exception of Language Centre modules or when the regulations give explicit
permission to do so.
2. In the final year of a degree (year 3 of a 3 year degree and year 4 of a 4 year
degree) students may not take a language option intended for a complete
beginner.
3. No more than 24 CATS credit of unusual options may be taken in any one year.
4. The CATS credit for a module taken as an unusual option may differ from the
credit awarded when the option is taken as a normal option. The amount of
credit you will be awarded is decided when you are granted permission to take
the option.
In their first two years, students may take most modules offered by the Language
Centre which are listed with CATS credits in the University Programme Regulations.
A few of these modules count as usual options and are listed in the Regulations,
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many count as unusual options and you must follow the procedure described above to
register for them. Take particular note of those rules which restrict unusual language
options during the final years of the degree.
LANGUAGE CENTRE:
The Centre offers academic courses for exam credit in French, German, Russian, and
Spanish at a wide range of levels. Pick up a leaflet listing the courses from the
Centre, on the ground floor of the Humanities Building. Full course descriptions are
available on request.
There is also a full programme of leisure courses for which, after 6 terms of
successful study, students may be eligible for the award of an Open Studies
Certificate. There is a discounted fee for undergraduates on these leisure courses.
These leisure courses carry no exam credit.
The Centre also offers language laboratory audiovisual and computer assisted self-
access facilities with appropriate material for individual study (carrying no exam
credit) in Arabic, Chinese, Dutch, English, French, German, Greek, Italian, Japanese,
Portuguese, Russian and Spanish.
Important note for students who pre-register for Language Centre modules: It is
essential that you confirm your module pre-registration by going to the Language
Centre as soon as you can during week one of the new academic year. If you do not
confirm your registration, your place on the module cannot be guaranteed. If you
decide during the summer NOT to study a language module and to change your
registration details, please have the courtesy to inform the Language Centre of the
amendment.
The Italian Department offers modules in Italian language for all university students,
whether they intend to take up Italian from scratch or to continue learning the
language (and culture) at intermediate and advanced level. All modules are taught
over three terms and fully accredited. Assessment consists of regular tests as well as
oral and written examinations at the end of the year.
3 WELFARE http://www2.warwick.ac.uk/insite/topic/healthsafety/welfare/
3.1 Illness
If your work is affected by illness get a sick note from your doctor; ensure that your
personal tutor is informed; that lecturers expecting assessments know; and that a copy
of the sick note is given to the Undergraduate Support Officer. This is most
important in relation to Boards of Examiners who require legitimate evidence
before making due allowance for adverse circumstances.
Sexual and racial harassment are totally unacceptable, we will support those
subjected to it and, when appropriate, will take disciplinary action against offenders.
Within the department help and support will be provided by all members of staff.
Outside the department you may seek help from the University Senior Tutor, the
Student Counsellors and the Student Union Welfare Staff.
The University and the Students Union have prepared Guidelines on Sexual, Racial
and Personal Harassment (which can be seen on insite in the Campus Life [Health
and Welfare] section). The guidelines include advice on identifying and addressing
harassment, formal procedures which can be followed and details of sources of
support. The guidelines are also available from the office of the Director of Student
and Ancillary Services.
If you feel able to make it clear to the person causing you offence that their behaviour
is unacceptable that may be enough to stop it. But if you do not feel able to tackle the
person, you should feel free to seek assistance from those listed above or from fellow
students to put an end to it.
If, as a first year student you are aware that you will require special arrangements
during the examination period, e.g. extra time to compensate for a particular
condition, would you please contact the Undergraduate Support Officer as soon as
possible. The University has a system for requesting special arrangements for
eligible students while taking their examinations.
These arrangements are only for students whose requirements are due to a medical
condition or other significant reason. In all cases, any requests needing approval
for the first time must be supported by properly documented and appropriate
medical/psychological evidence. Once accepted this arrangement will continue for
the duration of your degree course.
The Departmental Safety Officer is the Departmental Secretary, Mrs Lynn Clarke,
and any matters relating to safety within the department should be referred to her at
the following email address: [email protected].
4 COURSE REGULATIONS
It is possible, with the permission of the relevant department, to transfer from the first
year of MORSE to closely related degree schemes such as Mathematics, Mathematics
and Statistics, Mathematics and Economics, and so on. In every case it is necessary
to fill in and sign an official change of course form. Course transfers are only
permitted during term 1, the first week of term 2 and at the end of the academic year
when examination results are known.
Transfers from MORSE to the integrated Masters or vice versa can take place at any
time during the first two years. However where Student Finance England (SFE) or
Local Authority (LA) funding for the fourth year is a consideration, it is advisable to
make this decision earlier rather than later. During the third year of study, we will
not permit any changes between degrees after the end of the first term.
Statistics students may apply to take a degree course entitled MORSE (with
Intercalated Year)(Y603), which entails four years of study, rather than the usual
three or the integrated Masters degree (with Intercalated Year) (G301), which entails
five years of study instead of the usual four. Registration for these degrees should
take place as early as possible in the previous year, otherwise local authorities may
object to giving financial support for the final year. For MORSE students the
intercalated year takes place at the end of the second year and for integrated Masters
students the intercalated year takes place at the end of the third year. On their return,
students join the final year of study. The intercalated year entails either working in
industry, or studying at a university abroad and must be approved by the students
Personal Tutor and Head of Department. Approval is not guaranteed and largely
depends on current academic achievement (no less than 2:1). A Course Transfer
form will have to be completed. Please also be aware that, as this intercalated year
forms part of your formal degree programme, half home student fees are payable.
For further information about this contact Student Finance in University House.
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Undergraduates who have in the past succeeded in finding a job in industry have
found this a very helpful experience. There is unfortunately no help available from
the department in finding a job, and students who are interested in this are
recommended to seek help from the Careers Office. The main criterion is that the job
should provide learning experiences which are related to the degree course. After
your return from the Intercalated Year, you will be required to file a report with the
Department during the first week of the first term on this learning experience.
We use the University Online Module Registration System (eMR) which is accessed
via my.warwick on the Universitys intranet, insite. First year students will find that
their core subjects are already registered on eMR, only requiring the addition of any
chosen optional modules. Adjustments can be made to this initial list of modules at
key times during the academic year. As a student it is your responsibility to ensure
you are registered for the correct modules and assessment methods and that you do
this at the correct specified times. Details of registration procedures will generally be
sent to you via the department at the appropriate points in the academic year. You
must check your pigeonhole, your Warwick email address and the department UG
notice boards regularly and follow the instructions provided.
The initial information you supply to eMR does not involve you making a permanent
commitment to take the selected modules, nor stop you from following other
modules. However, you must ensure that all details held on eMR are correct at the
time of the final deadline for registration as these details constitute your final
examination timetable. Full details will be circulated at the start of the academic year
and at the beginning of each term.
Pre-registration of modules for the following year: At the beginning of Term 3, both
the Economics Department and Warwick Business School (WBS) run online pre-
registration for their modules. This encourages you to start planning and choosing
your options in advance and also assists these departments with timetabling. Some
departments will cap a module if the numbers reach capacity, so pre-registration on
popular modules is recommended. As WBS and Economics also run their own
registration systems alongside eMR, they request that if you decide to register or
deregister from a module at some stage mid-term, you advise them in person as well
as changing your registration on eMR.
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The WBS deadline for changing registering modules is Week 3, Term 1 for Autumn
Term or full year modules, and Week 2, Term 3, for Spring Term modules. Please
note that if you register on eMR but not on my.wbs, you will not be considered to
have registered for the module.
You must adhere to the deadline for registering for modules otherwise we may
ignore any marks awarded for that module. You must adhere to the deadline for
deregistering - absence from any examination for which you are registered means a
credit of zero. Students are advised not to leave finalizing the registration until
the last day.
5.3 Examinations
University examinations are mostly held in Term 3 in all three years. The University
webpage at
http://www2.warwick.ac.uk/services/gov/calendar/regulations/examregs/
contains important information on examination regulations and academic appeals.
Personal Tutors are allowed to disclose to their tutees provisional marks (as a
percentage) for each exam/assessment taken by that tutee. Please note that such
marks are provisional and are subject to ratification/amendment by the Senate of the
University and by External Examiners.
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Please note: no student is allowed to take courses so that more than 50% of their
possible overall degree mark is obtained from assessed work (assessed work means
credit obtained by a means other than a conventional university-supervised
examination).
The first year counts 10%, the second year 30% and the third year 60% towards the
final BSc degree mark; i.e. if S1, S2, S3 denote the % credits obtained at the end of
years 1, 2 and 3 respectively, then the overall degree % mark is:
The credits S1, S2, S3 are calculated by using the Seymour Formula (see below),
which is a scheme designed to give fair credit for students taking additional loads. A
corresponding formula is used for the Masters degree with the first, second, third and
fourth year programmes carrying weightings in the ratio 10:20:30:40.
Now for each year k the % credit is calculated from the Seymour Formula as follows:
x c
i
i i
Sk =
1
N + ( ci N )
2 i
where:
Of course, when deciding on the class lists, Boards of Examiners take into account
considerations other than the straight examination mark. For example, the difficulty
of a particular examination, the opinion of the External Examiner, and the number of
completed questions can all affect their decision.
Failing one of these subjects in June will almost certainly entail a September resit.
The possible outcomes of the first year examinations in June are as follows:
a) Class one - First
b) Class two (division one) II.I
c) Class two (division two) II.II
d) Class three Third III
e) Required to resit
f) Recommended to withdraw.
Students in group (e) have either failed to achieve an Honours mark overall (i.e. an S1
of about 40%) or have failed at least one main subject, and are required to resit
certain papers in September (see 5.8 Examinations RESITS (First Year only))
Students in group (f) have performed so badly that the Board of Examiners feel they
have little chance of reaching the required standard in the September resits. Their
names are not listed on the official class list; instead they receive a letter from the
Registry recommending them to withdraw from the University. However, this is only
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a recommendation and any students in this category can exercise their right to resit in
September.
There are three possible outcomes of the September resits:
a) Permitted to proceed to the second year of an Honours degree course.
b) Permitted to proceed to the second year of a Pass degree course.
c) Required to withdraw
Students in group (b) take a reduced load of exactly 84 CATS points in their second
year. (Deviations from the second year Pass load are not usually allowed. The
normal load for second year Honours is 120 CATS points). However, a Pass student
who performs sufficiently well on the second year examinations may still be allowed
to return to the Honours course for the third year.
For students in both groups (a) and (b) the cumulative credit carried forward (i.e. the
value of S1 used in the calculation of C) is the credit obtained in June and not that
obtained in September.
5.6 Second Year Examinations
For any second year student (whether on Honours or Pass) the possible outcomes of
the second year examinations are as follows:
a) Class one First I
b) Class two (division one) II.I
c) Class two (division two) II.II
d) Class three Third III
e) Permitted to proceed to the final year of an Honours course.
f) Permitted to proceed to the final year of a Pass course.
g) Fail.
In order to proceed to the third and fourth years a Masters student needs to obtain a
class one or a class two (division one) result.
Any second year Pass student who achieves a Seymour percentage which is greater
than 40% (based on the normal load of 120 Cat points) is awarded Honours in the
appropriate class and carries forward this Seymour percentage as S2. The decision on
whether or not a Pass student fails is based on the arithmetic mean of his marks and
not S2.
Students in group (e) have failed to obtain overall Honours classification but have
been permitted by the examiners to continue with an Honours course. Students in
Group (f) take a reduced load of exactly 90 CATS points in their third year.
(Deviations from the third year Pass load are not normally allowed. The normal load
for third year Honours is 120 CATS points).
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Students in group (g) have the right to resit the second year examinations the
following June without residence at the University. Special papers are not usually
set, but examiners treat resit students as special cases. The value of S2 carried
forward for the calculation of C is the mark obtained at the first examination and not
the resit.
For any final year student (whether on Honours or Pass) there are 6 possible
outcomes of the final examinations. These outcomes are based on the weighted
average C of the final years Seymour percentage together with the Seymour
percentage(s) of previous years (see earlier).
A third year Pass student who achieves a credit C that is greater than 40% (based on
the normal loads in year 2 and 3) is awarded BSc Honours in the appropriate class.
The decision on whether a Pass student fails is based on his mean mark over the 90
CATS points taken.
It is your responsibility to ensure that you understand what actions are required from
you when your results become available.
Examination results are released after the relevant Board of Examiners has finished
meeting in week 10 of the summer term.
It is a University regulation that your examination results may only be released to you
in person, by your personal tutor. Therefore you should make suitable arrangements
with your tutor to collect your marks, in good time, before the last week of the
summer term.
You should note that you are expected to be present at University for the full duration
of term. Therefore you will not receive your marks if you choose to leave University
before the end of term. You may collect your marks from your personal tutor at the
beginning of the next term in October.
Your results will not be posted to your home address. All letters (in particular, letters
informing you of any resits you may be required to take) during the vacation will be
sent to your permanent home address unless a "vacation address"
form is completed at the Enquiry Desk in the Academic Office. It is your
responsibility to make sure that any correspondence sent to you during the vacation
is directed to the correct address.
You should note that Pass Lists will be displayed on notice boards on the ground
floor of University House, and, for non-first years, in departments, as soon as
possible after the marks are released. You may therefore make arrangements for a
friend to check the Pass Lists and inform you of your classification (unless, of course,
you have exercised your right not to appear on the Pass Lists).
You should be aware that staff dealing with examination results may not always be
present at University in the vacations. You should not expect to be able to contact
your Personal Tutor in the vacations, nor that requests or enquiries will be responded
to within a matter of days, as might be expected in term-time.
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University requirements are that all students must return to Warwick University to sit
their examinations. The only students who are allowed to choose to sit overseas are
those students whose registered home address is in India, in which case they are able
to sit in New Delhi only, or those whose home address is registered in China or Hong
Kong who will be able to resit examinations in Hong Kong. The Exams Office
identifies these students and sends a resit letter offering them the option of taking
resit exams abroad.
All students who are required to take resits will be notified by post, so if you have left
University before the end of term and your contact details are incorrect you may not
receive a resit letter in time.
Unless your resit is a first attempt (see below) you will carry forward the fail mark
from your first sitting to the final calculation of your degree result. You are,
however, required to pass the resit before you are allowed to proceed to the next year
of your degree. If you fail your resit examinations you will then be Required to
Withdraw.
Please note: no student is allowed to take courses so that more than 50% of their
possible overall degree mark is obtained from assessed work (assessed work means
credit obtained by a means other than a conventional university-supervised
examination).
22
Deadlines
Assessed work usually comes with a deadline for completion. The department and
SSLC consider these essential to ensure fairness to all the students doing the work
and to the markers. Deadlines are enforced by penalising late work. Different
departments have different conventions.
In the Statistics Department the lecturer giving the assessment will name a date as the
deadline (this will not be a Friday). Work should be submitted by posting it into the
appropriate drawer of the cabinet (situated in the corridor next to the undergraduate
pigeonholes) on or before the deadline date. The cabinet will be emptied at 09.00 am
on the day following the named date.
A student who misses the deadline must personally hand their work to the
Undergraduate Support Officer who will record the date it was received. The lecturer
will automatically enforce a penalty of 5% per day late reduction in the credit
awarded calculated as follows:
The only circumstances in which this will be waived is if the lecturer has received
documented evidence of medical or similar extenuating circumstances which will be
communicated to the Statistics Chief Examinations Correspondent.
The penalty will not be waived for bad time management, so plan ahead and make
allowances for the possibilities of unforeseen demands on your time, such as job
interviews. If you write your work on your computer make sure you regularly save
your files. No excuses will be accepted due to problems you may suddenly have with
your computer or printer.
Cheating (including Plagiarism)
1. What constitutes cheating?
In the University Regulations cheating is defined as an attempt to benefit oneself or
another by deceit or fraud. The department recognises that discussing ideas about
how to tackle questions is a valuable part of the learning process. However, the
work you submit must be your own and written in your own words. Work
produced by someone else may be included provided it is appropriately
acknowledged or referenced. Unacknowledged copying from either another student
or from published sources including the internet threatens the integrity of the
assessment procedures and is treated very seriously by the University.
Cheating also covers more obvious sins such as copying in tests, sharing calculators
in tests and examinations, stealing work from other students, or taking your mobile
23
phone into an examination. You are also guilty of cheating if you assist another
student to do so, for example by allowing them to copy your work.
The University sets out the formal procedures in Regulation 11 of the University
Calendar. These are briefly described in the following paragraphs:
24
Marks and Marking
The marks given for assessed work are always provisional and may be changed by
the Board of Examiners. Students should retain all of their assessed work because it
may have to be resubmitted to the department just before the Board of Examiners
meeting.
Students may choose to have their major projects and essays marked anonymously,
just quoting their University number. However, anonymous marking leads to
difficulties in quickly returning marked work. Such work cannot be returned via
students pigeonholes and there are further problems when numbers are incorrectly
quoted. Consequently, following SSLC and Science Sub-Faculty discussions,
students must quote their names on all individual Statistics, Mathematics and other
Science Faculty assessments which account for less than 30% of that particular
course's credit.
Students on Pass Degrees may only vary the number of courses from the limits
specified above if they obtain permission in writing from the Department of
Statistics. You must submit a case in writing to the Chief Examinations Secretary by
Friday of Week 10 of the Autumn Term (Term 1). In order to submit a case you must
have the support of your Personal Tutor. Marks obtained for assessments during the
Autumn Term will be an important deciding factor.
Suggested suitable calculators for incoming students which are in line with
recommendations from the Computer Science Department:-
All of these are available from SU and most well known retailers e.g. Tesco, Amazon
and WH Smith. They are also reasonably priced.
25
Please remember:
(i) Calculators may not be passed from candidate to candidate during the
examination;
(ii) Responsibility for the calculators proper functioning is entirely that of the
student;
(iii) Students taking examinations other than those of the Department of Statistics
must ascertain the regulations governing the use of calculators from the
Department concerned.
6 CAREERS
Graduates from the Statistics Department enter a diverse range of careers. Many opt
to work within the Financial Services sector with the Actuarial, Accounting and
Investment Banking opportunities being particular favourites. These roles often
involve the study for professional qualifications such as ACA, CIMA, CFA and the
actuarial examinations. Alternative career choices include Operational Research,
Marketing and IT related fields. Statistics graduates develop a strong range of
transferable skills including excellent numerical, problem solving and analytical
abilities. These along with your ability to communicate complex ideas effectively are
highly sought after by employers.
Making good career decisions involves thinking about your interests and qualities and
also spending time researching possible occupations. If you would like to discuss
your ideas or feel you need support with working through your options and
developing ideas then please contact Andy Lloyd who is your personal Careers
Consultant. Book an appointment online by visiting http://go.warwick.ac.uk/careers.
A wide range of materials is available in the Careers Hub, based in the Learning Grid
at University House. Their website also gives you access to masses of information on
career planning, job seeking, interview skills, and much more. You can register
26
online to receive personal news, jobs and events information through My Careers
http://go.warwick.ac.uk/mycareers. Dont forget to check out the vacancy database
which provides access to hundreds of opportunities for work experience, internships,
as well as graduate vacancies.
Dont miss the valuable opportunity to meet employers face to face. Explore your
options, compare organisations and find out what skills employers are looking for by
visiting the Careers Fairs, employer presentations and alumni evenings. You will
need to book online for most events as places are limited.
Alongside the achievement of a good degree, employers are looking for students who
have maximised the use of their time at university and got involved in a wide range
of extracurricular activities. Many students help in the running of societies which
helps to build personal skills such as communication, leadership, problem solving and
team working. Some students work toward the Undergraduate Skills Programme or
take part in Business Challenges. Find something you enjoy and get involved!
Securing work experience and/or internships will also help to develop your
employability. The Careers Centre has a team dedicated to identifying work
experience opportunities for all students. The team also offer work experience
bursaries for students undertaking short-term unpaid placements.
See http://www2.warwick.ac.uk/services/careers/workexperience.
If youre hoping to find employment in the UK after graduation, and English isnt
your first language, think about ways in which you can improve your conversational
English. To be successful at an interview you will need very good verbal
27
communication skills, and sometimes our international students despite having
excellent academic results will not be able to progress beyond this point because
their spoken English isnt good enough.
The Centre for Applied Linguistics (CAL) runs classes for our non-native speaking
students, http://www2.warwick.ac.uk/fac/soc/al/learning_english/ and you can apply
what you have learnt by joining clubs and societies and regularly mixing with
students who are native English speakers.
Make sure you enjoy your time at Warwick and take advantage of the vast array of
opportunities on offer. Visit the Careers Centre sooner rather than later. If you have
any queries or concerns relating to your career do contact Andy Lloyd at
http://go.warwick.ac.uk/careers. The Careers Centre looks forward to welcoming
you.
As one of the leading providers of Initial Teacher Training, the Universitys Institute
of Education is once again offering undergraduates the opportunity to try a taster of
teaching. If you join the Student Associates Scheme (SAS) you will receive bursary
funded training which will prepare you for the expectations of a professional
environment. You will look at some of the issues concerned with effective teaching
and learning, and you will be given help and support to prepare for your school visits.
If you do your PGCE at Warwick, you would achieve a training credit which would
mean that you could complete the course earlier in the year than normal.
28
How to Apply
Online applications open at the beginning of the autumn term (Term 1) and can
be accessed from the SAS website www.go.warwick.ac.uk/student_associates
for further information, contact: [email protected]
Exemptions from the professional actuarial examinations are not given automatically.
The Actuarial Profession only awards exemptions if a student has achieved a
satisfactory overall percentage as well as a satisfactory percentage on the relevant
University courses. Our current syllabus enables exemptions as follows:
Recommendations for exemptions from CT1, CT2, CT4, CT6, and CT8 will be made
following the third and fourth year examinations. CT3 and CT7 have to be applied
for independently. Further information about the actuarial examination system can
be found at http://www.actuaries.org.uk .
29
Term 1 (weeks 1-10): Monday 3 October 2011 to Saturday 10 December 2011
Officers 2010-2011
30
COURSE REGULATIONS
for the
MORSE DEGREES
31
8 FIRST YEAR
The normal load in the first year is 120 CATS points (12 CATS points correspond to
the equivalent of one 30 hour lecture module). The maximum load is 140 CATS.
You must take the Core modules listed in the following table, (which gives for each
module, the code, the title, the CATS credit and the term in which it is taught) and an
appropriate number of optional modules.
Optional Modules
ST104 Statistical Laboratory 12
ST114 Games and Decisions 7.5
CS126 Design of Information Structures 15
MA113 Differential Equations A 6
MA117 Programming for Scientists 12
MA125 Introduction to Geometry 6
MA134 Geometry and Motion 12
MA246 Number Theory 6
PH123 Elements of Scientific Methods 6
PH126 Logic 1 : Introduction to Symbolic Logic 12
PH128 Descartes and Mill 12
PX101 Quantum Phenomena 6
PX121 Thermal Physics 1 6
32
PX144 Introduction to Astronomy 6
PX147 Introduction to Particle Physics 6
PX148 Classical Mechanics and Relativity 12
The above lists contain all the options available to First Year students on the
Y602/G300 degrees. These are consistent with the University Course Regulations.
Any modules not listed (including Languages) are classed as Unusual Options' and
permission to take these modules must be obtained by filling in an Unusual Option
form available from the Undergraduate office.
Full descriptions of all core modules and some optional modules are given in the
section of this handbook entitled: Module Descriptions: first year. Descriptions for
other modules can be obtained from the appropriate teaching department, usually via
their web pages.
33
9 SECOND YEAR
The normal load in the second year is 120 CATS points. The maximum load is 150
CATS.
Candidates for Honours are required to take 60 CATS of core modules, 48 CATS
from lists (A) to (E), as directed below, and appropriate number of optional modules.
Candidates for Pass degrees are required to take all modules in List (A) plus 12
CATS from Lists (B) and (C) combined. If candidates are allowed to increase CATS
load at the end of Term 1 they must ensure they meet the regulations.
List (B)
MA244 Analysis III 12
ST202 Stochastic Processes 12
List (C)
EC204 Economics 2 30
EC221 Mathematical Economics IB 12
IB211 Simulation 12
ST215 Forecasting and Control 12
34
List (D)
MA225 Differentiation 12
MA244 Analysis III 12
Optional Modules
36
10. THIRD YEAR of B.Sc. MORSE
After completing the third year of the BSc degree the students will have:
Developed skills in formulating and solving both abstract and applied problems,
and in presenting cogent and logical arguments.
Developed a strong background in at least one specialism, thus providing a basis
for further study or employment in related fields.
The normal load in the third year is 120 CATS points. The maximum load is 150
CATS.
Candidates for Honours must take at least 90 CATS credits from List (A) and at most
30 CATS from List (B).
Candidates for Pass degrees are required to take modules totalling 90 CATS credits
from List (A). At the discretion of the Chair of the Statistics Department, the
total load for such students may be increased up to a maximum of 120 CATS.
No student is allowed to take courses so that more than 50% of their overall
degree mark is obtained from assessed work.
Recall the advice from 5.3 Examinations: In particular students should note that
in awarding one of the BSc degree classes (see 5.7 a), b), c) and d)) a candidate
must achieve marks in that class or higher in whole modules from lists A and B
taken in the final year equating to at least 48 CATs in total. Economics Modules
do not run if there aren't sufficient numbers. Check with Economics
Department.
Certain third and fourth year options have prerequisites which are not in the
compulsory component of previous years. It is the responsibility of each student
to be in a position to understand the chosen modules.
It is a student's responsibility to ensure that the modules they are following are
permitted- either because the modules are given explicitly as options by the
regulations or because permission has been sought and granted by filling in an
unusual option form. Recall: Final year students are not allowed to take
39
first and second year modules. Exception: Final year can take 2nd year
modules which are listed in either List A or B.
In year 3 of the BSc MORSE degree the credit for any unusual options taken
counts towards the maximum 30 CATS allowed for List (B) options.
If you break a rule such as at most 30 CATS credit from List (B) then the
credit for each List (B) module taken will be multiplied by a scaling factor in
order to reduce the total credit to 30 CATS.
40
11. THIRD YEAR of INTEGRATED MASTERS
G300 (BSc Masters MORSE) allows students to take a degree whose title makes
explicit the fact that they have covered the material which leads to a Batchelor degree
as well as material at Masters Level.
The first two years are in common with the BSc degree in MORSE.
Students at the end of the second year must choose one of 4 possible streams:
Actuarial and Financial Mathematics.
Econometrics and Mathematical Economics.
Operational Research and Statistics.
Statistics with Mathematics.
Students must follow the same stream in the third and fourth year.
For all streams the normal load is 120 CATS. The maximum load is 150 CATS.
Recall: Final year students are not allowed to take first and second year
modules.
Students registered for G300 must take, over their third and fourth years, at
least120 CATS of level 4+ modules given by the Departments of Economics,
Mathematics, Statistics and Warwick Business School. At least 90 CATS of
level 4 should be taken in the fourth year.
No student is allowed to take modules so that more than 50% of their overall
degree mark is obtained from assessed work ("assessed work" means anything
other than a conventional University-supervised examination). If you break this
rule you will get a mark of zero for assessed work in excess of the 50%
maximum.
Certain third and final year options have prerequisites which are not in the
compulsory component of the second year. It is the responsibility of each
student to be in a position to understand the modules chosen.
Recall the advice from 5.3 Examinations: in awarding a first class integrated
Masters degree the Examination Board expect to see good first class marks on at
least 75 CATS
from: (a) modules from the core or Lists (A) through (F) taken in year 3 and (b)
modules from core or Lists (A) through (E) taken in year 4. A student who
achieves a final credit higher than 70% but who does not satisfy this requirement
will not usually be awarded a first class degree.
It is a student's responsibility to ensure that the modules they are following are
permitted - either because the modules are given explicitly as options by the
regulations or because permission has been sought and granted by filling in an
unusual option form.
You will want to consider possible choices of fourth year options when choosing
your third year options. You should bear in mind that the module positions
41
(whether they are in Term 1 or 2) do vary slightly from year to year and the
positions published in this book will not necessarily be the same next year.
You are not allowed to take both the level 3 and level 4 version of the same
module, eg ST323 Multivariate Statistics in Year 3 and then ST412 Multivariate
Statistics with Advanced Topics in Year 4. So, again, when choosing your 3rd
year options it is advisable to consider your 4th year options at the same time,
except 2nd year modules listed in List A or B of the 3rd Year Y602/G300 degree
course.
42
ACTUARIAL AND FINANCIAL MATHEMATICS STREAM
Objective: to provide students with a sound theoretical and practical basis for careers
and research in financial mathematics and to prepare students for an actuarial career
by covering around 7 of the 9 papers in the diploma in Actuarial Techniques of the
Institute of Actuaries.
Students must take the core modules, at least 15 CATS from List (A), at least 15
CATS from List (B) and an appropriate number of optional modules.
Core Modules CATS
ST318 Probability Theory 15
ST404 Applied Statistical Modelling 15
Optional Modules
Modules available in any stream of the third or fourth year of G300 and modules in
the third year of Y602.
43
ECONOMETRICS AND MATHEMATICAL ECONOMICS STREAM
Students must take the core modules, at least 45 CATS from List C and an
appropriate number of optional modules.
Optional Modules
Modules available in any stream of the third or fourth year of G300 and modules in
the third year of Y602.
44
OPERATIONAL RESEARCH AND STATISTICS STREAM
Syllabus: This covers mathematical techniques in OR, the design and organisation of
information systems, and the analysis of production and management information.
The key techniques include mathematical programming, simulation, applied
probability, decision theory, regression, time series and forecasting, multivariate data
analysis, and the design and analysis of experiments.
Students must take the core modules, at least 12 CATS from List (D) and an
appropriate number of optional modules.
Optional Modules
Modules available in any stream of the third or fourth year of G300 and modules in
the third year of Y602.
45
STATISTICS WITH MATHEMATICS STREAM
Objective: To prepare students for employment as statisticians and for research into
statistics.
Syllabus: All the major areas of probability modelling, stochastic processes and
statistical modelling.
Students must take the core modules, at least 15 CATS from List (E), at least 15
CATS from List (F) and an appropriate number of optional modules.
Modules available in any stream of the third or fourth year of G300 and modules in
the third year of Y602.
47
12. FOURTH YEAR of INTEGRATED MASTERS
The normal load is 120 CATS. The maximum load is 150 CATS. Recall: Final
year students are not allowed to take first and second year modules.
Students registered for G300 must take, over their third and fourth years, at
least120 CATS of level 4+ modules given by the Departments of Economics,
Mathematics, Statistics and Warwick Business School. At least 90 CATS of
level 4 should be taken in the fourth year.
No student is allowed to take modules so that more than 50% of their overall
degree mark is obtained from assessed work ("assessed work" means anything
other than a conventional University-supervised examination). If you break this
rule you will get a mark of zero for assessed work in excess of the 50%
maximum.
Certain third and final year options have prerequisites which are not in the
compulsory component of the second year. It is the responsibility of each
student to be in a position to understand the modules chosen.
Economics modules do not run if there aren't sufficient numbers. Check with
Economics Department.
All 4th Year students have to complete a project (Statistics Masters Dissertation)
which includes a short presentation in week 10 Term 1.
In order to award an MMORSE degree the Examination Board expects that the
candidate has passed the core project module.
Recall the advice from 5.3: in awarding a first class integrated Masters degree
the Examination Board expect to see good first class marks on at least 75 CATS
from: (a) modules from the core or Lists (A) through (F) taken in year 3 and (b)
modules from core or Lists (A) through (E) taken in year 4. A student who
achieves a final credit higher than 70% but who does not satisfy this requirement
will not usually be awarded a first class degree.
It is a student's responsibility to ensure that the modules they are following are
permitted - either because the modules are given explicitly as options by the
regulations or because permission has been sought and granted by filling in an
unusual option form.
48
ACTUARIAL AND FINANCIAL MATHEMATICS STREAM
Students must take the core module, at least 57 CATS from List (A) and an
appropriate number of optional modules.
Optional Modules
Modules available in any stream of the third or fourth year of G300 and modules in
the third year of Y602.
49
ECONOMETRICS & MATHEMATICAL ECONOMICS STREAM
Students must take the core module, at least 60 CATS from List (B) and an
appropriate number of optional modules.
Optional Modules
Modules available in any stream of the third or fourth year of G300 and modules in
the third year of Y602.
50
OPERATIONAL RESEARCH AND STATISTICS STREAM
Students must take the core module, at least 24 CATS from List (C), at least 30
CATS from List (D), and an appropriate number of optional modules.
Core Modules CATS
ST415 Statistics Masters Dissertation, 30
or
EC400 Statistics Masters Dissertation in Economics, 30
or
IB403 Operational Research Dissertation 30
List (C) CATS
IB3A7 The Practice of Operational Research 12
IB407 Decision Analysis 15
IB408 Operational Research in Strategic Planning 12
IB94R0 Analytic Consulting 12
IB94S0 Decision Analysis Consulting 12
IB94T0 Soft Systems Analysis Consulting 12
IB94W0 Spreadsheet Modelling 12
List (D) CATS
ST301 Bayesian Statistics and Decision Theory 15
ST305 Designed Experiments 15
ST318 Probability Theory 15
ST329 Topics in Statistics 15
ST332 Medical Statistics 15
ST401 Stochastic Methods in Finance 15
ST402 Risk Theory 15
ST403 Brownian Motion 18
ST405 Bayesian Forecasting and Intervention with Adv Topics 15
ST406 Applied Stochastic Processes with Advanced Topics 15
ST407 Monte Carlo Methods 15
ST408 Reading Module 15
ST409 Medical Statistics with Advanced Topics 15
ST410 Designed Experiments with Advanced Topics 15
ST411 Dynamic Stochastic Control 15
ST412 Multivariate Statistics with Advanced Topics 15
ST413 Bayesian Statistics and Decision Theory with Advanced 15
Topics
ST414 Advanced Topics in Statistics 15
ST416 Advanced Topics in Biostatistics 15
ST417 Topics in Applied Probability 15
ST906 Financial Time Series 12
ST909 Continuous Time Finance for Interest Rate Models 12
51
Optional Modules
Modules available in any stream of the third or fourth year of G300 and modules in
the third year of Y602.
52
STATISTICS WITH MATHEMATICS STREAM
Students must take the core module, at least 60 CATS from List (E), and an
appropriate number of optional modules.
Optional Modules
Modules available in any stream of the third or fourth year of G300 and modules in
the third year of Y602
54
13. MODULE DESCRIPTIONS
The remainder of this handbook consists of detailed descriptions of all the core
modules and some of the more popular optional modules. Modules are listed in year
order.
Course Regulations
http://www2.warwick.ac.uk/services/quality/courseregs/courseregs1011/undergrad/st
Economics:
http://www2.warwick.ac.uk/fac/soc/economics/ug
Mathematics:
http://www2.warwick.ac.uk/fac/sci/maths
Physics
http://www2.warwick.ac.uk/fac/sci/physics/teach/syllabi/
Statistics
http://www2.warwick.ac.uk/fac/sci/statistics
55
FIRST YEAR
Prerequisite(s): CS118
Academic Aims:
To gain familiarity with the specification, implementation and use of some standard abstract
data types (ADTs) such as linked-lists, stacks, queues, graphs etc.
To learn some standard algorithms for common tasks (such as searching and sorting) and
some elementary methods of measuring the complexity, and of showing the correctness, of
algorithms.
To learn how to program with non-standard ADTs using an object-oriented language.
Learning Outcomes:
Be familiar with a range of standard ADTs and how they can be used to accomplish
common programming tasks;
Be able to assess the complexity and correctness of simple algorithms, and choose
appropriate algorithms for simple tasks; and
Have practical experience of designing user-defined ADTs, and associated algorithms, for a
non-standard application.
Content:
Types and their properties: simple types in programming languages; relationship between
familiar mathematical and program objects of given type. Using predicate logic to state
properties of types and their operations in terms of pre- and post-conditions.
Abstract data types: specification of familiar abstract objects (eg complex numbers, sets,
sequences, matrices) and their operations, comparison with their implementation using a
typical programming language. Specification and implementation of some important
standard types (eg strings, stacks and queues).
Algorithms: relationship between data structures and algorithms; some standard algorithms
for searching, sorting and pattern matching. Elementary analysis of complexity. Reasoning
about the correctness of the implementation of simple algorithms.
Books: Goodrich MT and Tamassia R, Data Structures and Algorithms in Java, Wiley, 2005.
Assessment: One and a half-hour examination (50%), programming assignment (40%), marked
laboratory session (10%)
56
FIRST YEAR
Teaching format: 2 lectures per week in Terms 1 and 2 plus fortnightly classes
Assessment: 2 hour examination in June plus 4 assessments in the form of term tests.
57
FIRST YEAR
Academic Rationale: This is a short intensive module on theoretical and practical aspects of linear
programming including an introduction to other optimisation techniques.
Content: Formulation of linear programming models; graphical representation and solution of two
variable models; simplex method; sensitivity analysis; duality; formulation and solution of
transportation models; game theory. Also included in the course is a computer based project which
involves the formulation of a linear programming problem and its solution using a standard
computer package.
Leads to: IB207 Mathematical Programming II and IB352 Mathematical Programming III
Assessment: Open book examination (7.5 cats), written report (4.5 cats).
(MORSE: 12 CATS core or 7.5 CATS for MathStats Students only)
Content: Many problems in maths and science are solved by reduction to a system of simultaneous
linear equations in a number of variables. Even for problems which cannot be solved in this way, it
is often possible to obtain an approximate solution by solving a system of simultaneous linear
equations, giving the best possible linear approximation.
The branch of maths treating simultaneous linear equations is called linear algebra. The module
contains a theoretical algebraic core, whose main idea is that of a vector space and of a linear map
from one vector space to another. It discusses the concepts of a basis in a vector space, the
dimension of a vector space, the image and kernel of a linear map, the rank and nullity of a linear
map, and the representation of a linear map by means of a matrix.
These theoretical ideas have many applications, which will be discussed in the module. These
applications include:
Solutions of simultaneous linear equations.
Properties of vectors.
Properties of matrices, such as rank, row reduction, eigen values and eigenvectors.
Properties of determinants and ways of calculating them.
Aims: To provide a working understanding of matrices and vector spaces for later courses to build
on and to teach students practical techniques and algorithms for fundamental matrix operations and
solving linear equations.
Objectives: Students must understand the ideas of linear independent vectors, spanning sets and
bases of vector spaces. They must also understand the equivalence of linear maps between vector
58
FIRST YEAR
spaces and matrices and be able to row reduce a matrix, compute its rank and solve systems of
linear equations. The definition of a determinant in all dimensions will be given in detail, together
with applications and techniques for calculating determinants. Students must know the definition of
the eigenvalues and eigenvectors of a linear map or matrix, and know how to calculate them.
Leads to: Mainly 2nd year algebra modules, but results and techniques from linear algebra may be
used in any higher year maths modules and even in some outside options.
Books: David Towers, Guide to Linear Algebra, Macmillan 1988. Howard Anton, Elementary
Linear Algebra, 7th Edition, John Wiley and Sons, 1994. Paul Halmos, Linear Algebra Problem
Book, MAA, 1995. G Strang, Linear Algebra and its Applications, 3rd ed, Harcourt Brace, 1988.
You may not take this module as well as MA133 Differential Equations
However, this theory is not only of interest to the applied mathematician: indeed, it is an integral
part of any rigorous mathematical training, and is developed here in a systematic way. Just as a
pure subject like group theory can be part of the daily armoury of the applied mathematician, so
ideas from the theory of ODEs prove invaluable in various branches of pure mathematics, such as
geometry and topology.
In this module we will cover relatively simple examples, first order equations
( dy / dx = f ( x , y ) ) and linear second order equations ( &x& + p (t ) x& + q(t ) x = g ( t )), for most of which
we can find an explicit solution. However, even when we can write the solution down it is
important to understand what the solution means, ie. its qualitative properties. This approach is
invaluable for more complex equations for which we cannot find an explicit solution: here we see
how to understand the behaviour of all the solutions of an equation dx/dt=f(x) using a very simple
method.If we try to approximate an ordinary differential equation like dx/dt=f(x) numerically, one
way would be to split the time into small increments and try to approximate x (t + t ) by, for
example,
x (t + t ) = x(t ) + f ( x(t )) t
59
FIRST YEAR
x n +1 = x n + f ( x n )t ,
The last lecture will give some indication of the complicated behaviour that can occur even in the
simplest nonlinear difference equations.
Aims: To introduce simple differential and difference equations and methods for their solution, and
to illustrate the importance of a qualitative understanding of these solutions.
Objectives: You should be able to solve various simple differential equations (first order and linear
second order) and to interpret their qualitative behaviour; and to do the same for simple difference
equations.
W. Boyce and R. Di Prima, Elementary Differential Equations and Boundary Value Problems,
Wiley 1997
C. H. Edwards and D. E. Penney, Differential Equations and Boundary Value Problems, Prentice
Hall 2000
K. R. Nagle, E. Saff, and D. A. Snider, Fundamentals of Differential Equations and Boundary
Value Problems, Addison Wesley 1999
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FIRST YEAR
Prerequisite(s): No previous computing experience will be assumed, but students should have
obtained a code to use the IT Services work area systems prior to this module. Information and
assistance is available in the Student Computer Centre in the Library Road.
Content: Aspects of software specification, design, implementation and testing will be introduced
in the context of the Java language. The description of basic elements of Java will include data
types, expressions, assignment and compound, alternative and repetitive statements. Program
structuring and object oriented development will be introduced and illustrated in terms of Javas
method, class and interface. This will enable the development of software that reads data in a
variety of contexts, performs computations on that data and displays results in text and graphical
form. Examples of iterative and recursive algorithms will be given. The importance of Java and
Java Virtual Machine in networked computing will be described. The majority of examples will be
standard applications but the development of Java Applets to be delivered by web browsers will
also be covered.
Leads to: MA228 Numerical Analysis and modules given by the Computer Science Department
that are based upon the Java language, including CS223 Introduction to Software Engineering,
CS236 Data Structures and Algorithms and CS237 Concurrent Programming.
Books: Books are not essential for this module as use will be made of on-line tutorial and reference
material. An informative, optional text is H M Deitel/P J Deitel, Java How to Program (2nd or 3rd
Ed.), Prentice Hall
Content: This module begins with a quick tour through elementary plane Euclidean geometry. We
emphasise proof, and the careful use of diagrams as an aid to understanding problems and finding
proofs. Plane geometry then provides the setting for an introduction to the geometry of the sphere
and of polyhedra.
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FIRST YEAR
Aims:
To learn and enjoy Euclidean geometry of the plane, the sphere and of three-dimensional space.
To learn to visualise geometrical problems, and to draw diagrams which represent them
accurately.
To learn to reason from diagrams, and use them as an aid to writing rigorous proofs.
To learn to construct proofs, and to set them out clearly and convincingly.
CAUTION: MORSE and MathStats students are taught separately from students of the
Mathematics Department.
Content: At the beginning of the nineteenth century the familiar tools of calculus, differentiation
and integration, began to run into problems. Mathematicians were unsure of how to apply these
tools to sums of infinitely many functions. The origins of Analysis lie in their attempt to formalize
the ideas of calculus purely in the language of arithmetic and to resolve these problems.
You will study ideas of the mathematicians Cauchy, Dirichlet, Weierstrass, Bolzano, D'Alembert,
Riemann and others, concerning sequences and series in term one, continuity and differentiability in
term two and integration in term one of your second year.
By the end of the year you will be able to answer many interesting questions: What do we mean by
`infinity'? How can you accurately compute the value of or e or ? How can you add up infinitely
many numbers, or infinitely many functions? Can all functions be approximated by polynomials?
There will be considerable emphasis throughout the module on the need to argue with much greater
precision and care than you had to at school. With the support of your fellow students, lecturers and
other helpers, you will be encouraged to move on from the situation where the teacher shows you
how to solve each kind of problem, to the point where you can develop your own methods for
solving problems. You will also be expected to question the concepts underlying your solutions,
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FIRST YEAR
and understand why a particular method is meaningful and another not so. In other words, your
mathematical focus should shift from problem solving methods to concepts and clarity of thought.
Assessment: First term weekly assignments and mid-term tests (7.5%); one-and-a-half-hour hour
examination on the first term's work (25%) (held in the first week of the second term); weekly
assignments in the second term (7.5%); three-hour end-of-year examination (60%).
Books:
D. Stirling, Mathematical Analysis and Proof, 1997.
M. Spivak, Calculus, Benjamin.
M. Hart, Guide to Analysis, Macmillan. (A good traditional text with theory and many exercises.)
G.H. Hardy, An introduction to Pure Mathematics, CUP.
Aims: University mathematics introduces progressively more and more abstract ideas and
structures, and demands more and more in the way of proof, until by the end of a mathematics
degree most of the student's time is occupied with understanding proofs and creating his or her own.
This is not because university mathematicians are more pedantic than schoolteachers, but because
proof is how one knows things in mathematics, and it is in its proofs that the strength and richness
of mathematics is to be found.
But learning to deal with abstraction and with proofs takes time. This module aims to bridge the
gap between school and university mathematics, by beginning with some rather concrete techniques
where the emphasis is on calculation, and gradually moving towards abstraction and proof.
Content:
1. Numbers
Number systems: Natural numbers, integers, rationals and real numbers. Existence of
irrational numbers.
Euclidean algorithm; greatest common divisor and least common multiple.
Prime numbers, existence and uniqueness of prime factorisation (and non-uniqueness in other
``number systems'', e.g. even integers, Gaussian integers).
Properties of commutativity, associativity and distributivity.
Infinity of the primes.
Summing series of integers; proofs by induction.
2. Language
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FIRST YEAR
3. Polynomials
4. Counting
The second (and smaller) part of the module explores the elementary properties of a fundamental
algebraic structure called a group. Groups arise in an extraordinary range of contexts in
mathematics and beyond (for example, in elementary particle physics and in card tricks), and can be
used to analyse the symmetry of geometric objects or physical systems.
Objectives: Students will work with number systems and develop fluency with their properties;
they will learn the language of sets and quantifiers, and will become familiar with various styles of
proof. They will approach group theory via modular arithmetic and permutations.
Leads to: Most later pure mathematics modules; specifically MA131 Analysis, MA106 Linear
Algebra and MA242 Algebra I.
Books: None of these is the course text, but each would be useful, especially the first.
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FIRST YEAR
Assessment: 15% from fortnightly tests, 20% from Maths Techniques and 65% from a one-and-a-half
hour written exam in the first week of Term 2 (probably on the first day of term 2!).
Commitment: 30 lectures.
Content: When a particle moves in space, it traces out a curve. This is one of the simplest
connections between geometry and motion. The motion contains more information than the curve
traced out by the particle because the same curve can be traversed at different, possibly non-
uniform, speeds (different motion). The length of the curve (a geometric property) is given by the
integral (with respect to time) of the speed at which the curve is traversed. However, the length is
evidently independent of the actual motion of the particle along the curve. This independence is
established by means of the change of variables formula for integrals. Another connection between
geometry and motion is provided by the relation between curvature and acceleration.
In high school, one learns how to integrate a function of one real variable. This course describes
how to integrate vector-valued functions and functions of two and three real variables. In
particular, the area of a surface and volume of a region (geometry) will be defined, as well as the
circulation of a fluid around a closed curve (motion). The change of variables formula for two and
three dimensional integrals will be (heuristically) derived; it involves a determinant and is
somewhat more complicated than the one dimensional formula.
A section on particle mechanics will derive Kepler's Laws of planetary motion from Newton's
second law of motion and the law of gravitation. The motion of the simple pendulum will also be
discussed. This section introduces the notion of conserved quantities.
Aims: This module aims to indicate to students how intuitive geometric and physical concepts such
as length, area, volume, curvature, mass, circulation and flux can be translated into mathematical
formulas. It also aims to teach the practical calculation of these formulas and their application to
elementary problems in particle and fluid dynamics. The importance of conserved quantities in
mechanics is also highlighted.
parametrise simple curves and surfaces, such as conic sections, helix, surface of revolution
(including sphere, cylinder, paraboloid and torus), in cartesian and other coordinates,
including polar, spherical polar and cylindrical coordinates.
calculate lengths and curvatures of curves in 3-space and demonstrate that length is
independent of parametrisation.
understand and be able to calculate line, surface and volume integrals with respect to various
coordinate systems. This includes change of variables and change of order of integration in
repeated integrals. Please note that in the examination, no formula sheets will be provided.
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FIRST YEAR
to be able to determine whether a vector field is conservative and to calculate its potential
when it is.
apply all these techniques to elementary problems from fluid dynamics (mass, work,
circulation and flux) and geometry (area and volume).
understand basic notions from particle mechanics including momentum (linear and angular),
force, work, energy (potential and kinetic), Newton's laws of motion, Newton's law of gravity,
conservation laws. Students should also be able to apply all these principles to elementary
problems from mechanics, including central force theory (including, but not restricted to,
planetary motion) and the simple pendulum.
Books:
G. B. Thomas et al., Calculus and Analytic Geometry, Addison-Wesley. The course is concerned
with only the later chapters of this massive book. However, the earlier chapters are relevant to
other first year courses and even contain A-Level material from a different perspective. Any edition
of this book is appropriate. You may be able to buy a cheap copy through Amazon.
F. J. Flannigan and J. L. Kazdan, Calculus Two, Springer-Verlag. Again, the earlier chapters of this
book are relevant to other first year courses.
J.E. Marsden and A.J. Tromba, Vector Calculus, Freeman. This book is more advanced than
Calculus Two and is useful for the second year courses on Vector Analysis and Differentiation.
Content: A first course on data collection and analysis, probability and statistical inference. The
emphasis is on using and interpreting statistical methods in practice, with a clear understanding of
potential pitfalls. The course provides valuable motivation for the theory presented in the second
year courses on Mathematical Statistics.
Aims: To introduce and explain the important ideas in practical statistics, so that, with full access to
textbooks and other resources, students will know when to apply various statistical methods, and
will understand the associated problems and pitfalls.
Objectives: After completing this course, students should be able to do the following given a
Practical problem:
Suggest methods to obtain relevant data.
Summarise low-dimensional data-sets, both graphically and numerically.
Apply simple formal statistical techniques and interpret the results.
Criticise the whole process and the applicability of the conclusions, in the light of the practical
situation and the actual data, discussing points such as: (sampling) bias, data quality,
independence, explanatory variables, distributional assumptions, outliers, prediction.
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FIRST YEAR
Leads to: ST217 Mathematical Statistics A & B (for Statistics students only)
ST218 Maths Stats A & ST219 Maths Stats B (for all non-statistics students)
Assessment: 30% on laboratory reports and 70% on a 2-hour open-book examination held at the
end of the Autumn Term (Week 10).
Prerequisite(s): None
Aims:
To familiarise students with the use of appropriate computer technology for mathematics;
To demonstrate the value and importance of expressing mathematical statements precisely when
communicating.
Objectives: After completing the course, students should be able to do the following:
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FIRST YEAR
Use a computer algebra system such as Mathematica or Maple to attack simple mathematical
problems algebraically, numerically and/or graphically.
Use a system such as TeX or LaTeX to typeset reports with mathematical content.
Demonstrate simple programming skills.
Assessment: 100% by assessment. One short project (20%) and one long practical assessment
(80%).
Commitment: 20 lectures.
Content: Throughout their history, game and decision theories have used ideas from mathematics
and probability to help understand, explain and direct human behaviour. This course introduces
some of the less technical results in both of these disciplines. Ideas to be presented will include:
The quantification of subjective belief through probability.
The EMV decision rule.
The quantification of subjective preferences.
The concept of a rational opponent in a two player game.
As well as providing an insight into various applications of mathematical concepts, the course will
inform students how, at least in simple problems, they might ensure that their own decision-making
is coherent and rational.
Aims: To give an introduction into how the use of probabilistic and mathematical ideas can
enhance decision making by providing a framework in which actions can be judged as sensible or
irrational. Examples will be given both of games against nature and games against other rational
opponents.
Objectives:
The student will be taught some of the arguments underpinning the use of rationality and a
definition of subjective probability.
They will be taught how to use the simpler tools of decision analysis as a framework to discover
sensible decision rules which balance quantified uncertainties and payoffs.
The course will explain and illustrate some of the issues of rationality as they apply to games
and techniques will be given which will enable the student to solve some simple zero sum
games.
Aims: To lay the foundation for all subsequent modules in probability and statistics, by introducing
the key notions of mathematical probability and developing the techniques for calculating with
probabilities and expectations.
Content:
1. Experiments with random outcomes: the notions of events and their probability. Operations
with sets and their interpretation. The addition law.
2. Simple examples of discrete probability spaces. Methods of counting: inclusion-exclusion
formula and Binomial co-efficients.
3. Simple examples of continuous probability spaces. Points chosen uniformly at random in
space.
4. Independence of events. Conditional probabilities. Bayes theorem.
5. The notion of a random variable. Examples in both discrete and continuous settings.
Indicator random variables.
6. The notion of the distribution of a random variable. Probability mass functions and density
functions. Cumulative distribution functions.
7. Expectation of random variables. Properties of expectation.
8. Mean and variance of distributions. Chebyshev's inequality.
9. Independence of random variables. Joint and conditional distributions. Covariance. Cauchy-
Schwartz inequality.
10. Addition of independent random variables: convolutions. Generating function and use to
compute convolutions.
11. Important families of distributions: Binomial, Poisson, negative Binomial, exponential,
Gamma and Gaussian. Their properties, genesis and inter-relationships.
Then the following topics to be covered in second year may be introduced at the end of this module.
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SECOND YEAR
Assessment methods: 2 x 2000 word essays (20%) and 3hour examination (80%)
(i) Games in strategic form: Nash equilibria and its applications to voting games, oligopoly,
provision of public goods.
(ii) Games in extensive form: sub game perfect equilibria and its applications to voting games,
repeated games.
(iii) Static games with incomplete information: Bayesian equilibria and its applications to
auctions, contracts and mechanism design.
(iv) Dynamic games of incomplete information: Perfect Bayesian equilibria, Sequential
equilibria and its application to signalling games.
(v) Bargaining theory: Nash bargaining, non-cooperative bargaining with alternating offers and
applications to economic markets.
Illustrative reading: Mathematical Economics 1a
Dutta, P.K. (1999): Strategies and Games: Theory and Practice, MIT Press.
And, for supplementary reading for the student seeking a deeper understanding,
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SECOND YEAR
Commitment: Two lectures per week, one problem class and one tutorial per fortnight.
Content: Lectures shall develop the fundamental properties of competitive equilibrium: Existence,
optimality and determinacy (i) in abstract economies, (ii) in economies over time and under
uncertainty, and (iii) in economies with incomplete asset markets and/or particular demographic
structures (overlapping generations), and their implications for monetary and fiscal policy.
Aims: ``Models of Static and Dynamic Optimisation'' provides some basic mathematical tools of
static and dynamic optimisation and presents some applications in theory of incentives and in
macroeconomic growth.
Books:
Principal reference:
Mas-Colell, A., Whinstone, M. D., and Green, J. R. (1995), Microeconomic Theory, OUP.
(Chapters 3 and 15-20)
Bewley, T. F. (2007), General Equilibrium Overlapping Generations Models and Optimal Growth
Theory, Harvard University Press.
Assessment: 3-hour examination (80%) and tests (20%) if taking both EC220 and EC221, else a 1.5
hour examination (80%) and one test (20%).
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SECOND YEAR
Commitment: Two 1 hour lectures (starts in week 2) plus a 1 hour seminar each week.
Objectives: The module is designed to provide students with a broad introduction to accounting
and finance, with a users or managers perspective rather than that of an accounts preparer or
specialist.
Content: Balance sheets, profit & loss accounts and cash flow statements. Accounting conventions
and creative accounting. Forecasting financial statements. Financial statement analysis. Cost
behaviour. Cost tracing (direct & indirect). Product costing. Budgeting. Elements of finance.
Academic Rationale: Please ensure that you register for this module with the WBS Undergraduate
Office as well as on eMR. If you are not registered correctly, you will not have access to all of the
necessary web-based materials needed for the module. This module is only available to 2nd year
students.
Objectives: This module is intended as a general introduction to key disciplines in business and
management.
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SECOND YEAR
Syllabus:
There are four main subject topics:-
Marketing
Human Resources
Accounting & Finance
Operations Management
Bibliography
There is no required text though students are advised to study a recommended text such as
"Introduction to Management", Richard Pettinger, or "Mastering Basic Management, E C Eyre,
MacMillan Master series. Additional materials, and some cases and exercises will be given out
during the module. These will form the basis of the module for revision and assessment purposes.
Assessment: 2 hour open book exam + 15 minutes reading time (70%), assessed (30%).
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SECOND YEAR
Restriction: Students taking this module may not later take the third year course IB320
Simulation.
Commitment: 8 x 2 hour lectures and 1 tutorial hour per week for students for 7 weeks.
Objectives: Simulation is one of the most commonly used operational research methods for
analysing complex operational/ industrial problems. This course will focus on discrete event
simulation. Students will learn the theoretical underpinnings of the methods and the range of
applications for which they are useful. They will gain practical experience in problem solving using
commercial simulation software. The course assumes the student has covered some introductory
courses in computer programming and statistics.
Contents: Topics covered will be: introduction to simulation methods, the discrete-event
simulation method, software for discrete-event simulation (with use of a specific package e.g.
Simul8 or Witness), performing a simulation study (conceptual modelling, data collection and
analysis, experimentation and verification and validation).
The tutorials provide the opportunity for supervised exercises and help students develop their own
computer based simulation programmes.
Books: Robinson, S. (2003), Simulation: The Practice of Model Development and Use, Wiley
Commitment: 15 lectures
Aims: To introduce the calculus of variations and to see how central it is to the formulation and
understanding of physical laws.
Objectives: To show you how to set up and solve minimisation problems with and without
constraints, to derive Euler-Lagrange equations and to have you appreciate how the laws of
mechanics fit in this framework.
Content: This module consists of a study of the mathematical techniques of variational methods,
with applications to problems in physics and geometry. Critical point theory for functionals in
finite dimensions is developed and extended to variational problems. The basic problem in the
calculus of variations for continuous systems is to minimise the integral
I(y)= ab f(x,y,y x ) dx
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SECOND YEAR
on a suitable set of differentiable functions y :[a, b] R. The Euler-Lagrange theory for this
problem is developed and applied to dynamical systems (Hamiltonian mechanics and the least
action principle), shortest time (path of light rays and Fermats principle), shortest
length and smallest area problems in geometry. The theory is extended to constrained variational
problems using Lagrange multipliers.
Books: A useful introduction is: R Weinstock, Calculus of Variations with Applications to Physics
and Engineering, Dover, 1974.
Other useful texts are: F Hildebrand, Methods of Applied Mathematics (2nd ed), Prentice Hall, 1965.
IM Gelfand & SV Fomin. Calculations of Variations, Prentice Hall, 1963.
The module will not, however, follow the syllabus of any book.
Leads to: The module is a vital prerequisite for most later (especially Pure) Mathematics modules,
including MA3F1 Introduction to Topology, MA3D9 Geometry of Curves and Surfaces, MA3F4
Linear Analysis, MA359 Measure Theory, MA3B8 Complex Analysis, MA371 Qualitative Theory
of ODEs, MA3G1 Theory of PDEs, MA424 Dynamical Systems, MA475 Riemann Surfaces,
MA4E0 Lie Groups.
Books: The set text is W A Sutherland, Introduction to Metric and Topological Spaces, OUP. You
will need your own copy (or a half share in one) from day 1.
Aims :
To extend the results on differentiation of functions of 1-variable to functions between higher
dimensional linear spaces.
To develop the theory of the derivative as a linear map and study its relationship with partial
derivatives.
To introduce the basic theory of normed vector spaces as needed for this theory and to provide a
basis for later modules.
To show how different branches of mathematics, in this instance linear algebra and analysis,
combine to give an aesthetically satisfying and powerful theory.
To encourage self-motivated study of mathematics.
Objectives: At the end of this module the student should have a basic working knowledge of higher
dimensional calculus. The student should understand this is in the context of normed spaces and
appreciate the role this level of abstraction plays in the theory. They should understand basic linear
analysis to the extent of being able to follow it up in the relevant third year modules. They should
also be in a position to make use of more advanced textbooks if they wish to go further into these
theories.
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SECOND YEAR
Books: J Marsden and A Tromba, Vector Calculus, McGraw Hill. T Apostol, Mathematical
Analysis, Addison-Wesley
W Rudin, Principles of Mathematical Analysis, McGraw Hill M Spivak, Calculus on manifolds,
Benjamin Cummings
Assessment: Two-hour examination.
Lecturer: Vassili Gelfreich
Content: This module focuses on basic numerical methods for problems arising in mathematics
and the physical sciences. Through selected examples such as multi-dimensional zero-finding and
the solution of ordinary differential equations, the important concepts of iteration, convergence,
cost, accuracy and stability will be covered.
Aims: To introduce the numerical methods used in tackling mathematical equations which do not
yield to exact forms of analysis.
Objectives:
To learn how computers represent numbers and what kind of errors this representation can
involve.
To understand iterative methods through the techniques for finding roots of nonlinear equations.
To understand convergence through techniques for solving ordinary differential equations.
To be able to write a computer program to implement the methods covered in the module.
Books: The lectures will follow relatively closely the book by Burden & Faires (see below) and
cover material from chapters 1-5.
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SECOND YEAR
Leads to:
MA3D1 Fluid Dynamics,
MA3G1 Theory of PDEs,
MA3D9 Geometry of Curves and Surfaces,
MA3B8 Complex Analysis
MA390 Topics in Mathematical Biology,
Various 400 level courses.
Books: There are a huge number of books that cover Vector and Complex Analysis at roughly the
right level for this course. Comments on a selection of books that are useful for this module will be
distributed at the first lecture and posted on the
Prerequisite(s): This module leads on directly from MA132 Differential Equations. For those
students who took only MA113 Differential Equations A in their first year, you should still be able
to follow the module but are strongly encouraged to do some background reading. I will assume at
least a rudimentary memory of coupled linear differential equations and competence with linear
second order differential equations. A good book is James Robinson's ``An Introduction to
Ordinary Differential Equations''.
Content: This module is designed to be a gentle introduction to the area of non-linear dynamical
systems by way of its application to the ``Natural World''. Some quite deep ideas are introduced to
help explain or describe natural phenomena such as evolutionary theory, species diversity, weather
forecasting, animal locomotion and epidemics. The mathematics considered will cover the full
spectrum of nonlinear dynamical systems theory including game theory, nonlinear oscillations,
symmetry, sensitive dependence upon initial conditions (chaos) and (if time permits) fractals. In
many cases these ideas are introduced outside of a rigorous setting so that the beauty and power of
the techniques can be explored. There will be occasional reference to numerical solutions of some
problems, and some of the assessed work may require use of a computer, but no previous
experience (or love) of computing will be assumed.
Aims: To provide a general introduction to the many aspects of dynamical systems theory through
its application to the ``Natural World''.
Objectives: At the end of the module you should be familiar with the ideas of stable/unstable
equilibria and periodic orbits, strange attractors, Poincar maps, bifurcations, catastrophes,
nonlinear oscillations, chaos and fractals.
Leads to: Although not leading directly onto another course, this module should provide a useful
introduction/motivation/complement to MA235 Introduction to Mathematical Biology.
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SECOND YEAR
Books: There is no one textbook which adequately covers the whole module, but J.D. Murray,
Mathematical Biology is recommended for many aspects. Other suggestions will be made during
the course.
Lecture Notes: Printed lecture notes for the module will be available, but these should be seen to
complement the lectures rather than replace them since there will be additional material (including
examples) covered during lectures. This additional material will almost certainly form the basis of
a significant amount of the assessments.
Assessment: The module is 100% assessed, through two assessments and what has on many
previous years proved to be a popular mini project. Expect the assessments to be quite demanding,
and make sure that you understand the university rules on plagiarism. In previous years there have
been some harsh penalties imposed for breach of these regulations. Ignorance is not an excuse.
Content: Geometry is the attempt to understand and describe the world around us and all that is in
it; it is the central activity in many branches of math and physics, and offers a whole range of views
on the nature and meaning of the universe.
Klein's Erlangen program describes geometry as the study of properties invariant under a group of
transformations. Affine and projective geometries consider properties such as collinearity of points,
and the typical group is the full n x n square matrix group. Metric geometries, such as Euclidean
geometry and hyperbolic geometry (the non-Euclidean geometry of Gauss, Lobachevsky and
Bolyai) include the property of distance between two points, and the typical group is the group of
rigid motions (isometries or congruencies) of 3-space. The study of the group of motions throws
light on the chosen model of the world.
The module includes a diversity of topics, such as the rules of life and self-consistency of the non-
Euclidean world, symmetries of bodies both Euclidean and otherwise, tilings of Escher and the
regular solids, and the geometric rules of perspective in photography and art.
Aims: To introduce students to various interesting geometries via explicit examples; to emphasise
the importance of the algebraic concept of group in the geometric framework; to illustrate the
historical development of a mathematical subject by the discussion of parallelism.
Objectives: Students at the end of the module should be able to give a full analysis of Euclidean
geometry; discuss the geometry of the sphere and the hyperbolic plane; compare the different
geometries in terms of their metric properties, trigonometry and parallels; concentrate on the
abstract properties of lines and their incidence relation, leading to the idea of affine and projective
geometry.
Leads to: MA3D9 Geometry of Curves and Surfaces, MA4E0 Lie Groups, MA473 Reflection
Groups.
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SECOND YEAR
Books: M. Reid, Geometry and Topology, chapters of forthcoming textbook, available from
General Office. E G Rees, Notes on Geometry, Springer. HSM Coxeter, Introduction to Geometry,
John Wiley & Sons.
Assessment: The weekly worksheets carry 15% assessed credit; the remaining 85% credit by 2-
hour examination.
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SECOND YEAR
Books: No book covers the module although the MathSoc Revision Guide is recommended. A list
of books to consult is given on Mathstuff.
Assessment: Two-hour examination (85%), assignments (15%).
Lecturer: Anthony Manning
Status: Students may take this module in Years 1 and 2 only. It is NOT available as an
unusual option in Years 3 and 4.
Commitment: There are five workbooks for this course. Each contains notes, examples and
questions. Solutions to the questions are available on Mathstuff. You are expected to study the
workbooks on your own, or with the help of friends. The workbooks are self-contained, but you
may also wish to refer to the recommended texts. There will be a single organisational lecture at
the start of Term 3 (the only lecture for this module). Workbooks 1 - 4 will each be examined by a
50-minute test held once a week in the first half of Term 3. Arrangements for these tests and details
of a support forum will be announced at the lecture.
Prerequisite(s): MA132 Foundations, MA106 Linear Algebra; second year Algebra courses are also
useful in understanding the material. First-year students should be able to tackle the module if they
are prepared to do a little reading around some of the topics (and if they are convinced it will not
interfere unduly with their revision for other examinations).
Content:
Workbook 1 The arithmetic of congruence classes, solving linear congruences, the multiplicative
structure of (Euler's Theorem and Fermat's Little Theorem).
Workbook 2 Primitive roots and finite logarithms, Euler's phi-function, decimal representation of
rational numbers.
Workbook 3 The greatest integer function, de Polignac's formula, standard multiplicative functions,
perfect numbers and Mersenne primes, Mbius's function and inversion formula.
Workbook 4 Finite continued fractions and Euclid's algorithm, infinite continued fractions for
irrational numbers.
Aims:
To introduce students to the delights of elementary number theory.
To encourage independent study through using specially-prepared workbooks which develop
abstract theory through sequences of concrete exercises, problems, and calculations.
Objectives:
To give students an easy facility with modular arithmetic, continued fractions, and the
elementary functions of number theory; in particular, to develop their ability to do serious
calculations with these objects.
To stress the role of problem-solving in developing mathematical understanding.
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SECOND YEAR
To stimulate the use of pocket calculators in investigative mathematics (but note that
calculators will not be needed and will not be allowed in the examination).
To provide an incentive for cooperative study.
Books:
First Choice: Harry Davenport, The Higher Arithmetic, 7th Edn. (CUP, 1999), ISBN 0521634466,
20.69.
A Problems-Based Approach R.P. Burn, A Pathway into Number Theory (CUP, 2nd edition,
1997), ISBN 0521575400, 23.99.
Also Recommended: James J. Tattersall, Elementary Number Theory in Nine Chapters (CUP,
1999), ISBN 0521585317, 5.99 + postage.
The Classic: G.H.Hardy & E.M.Wright, An Introduction to the Theory of Numbers (OUP, 1980),
ISBN 0198531710, 30.40.
A Number Theorist's World View: G.H.Hardy, A Mathematician's Apology (CUP, 1992), ISBN
0521427061, 11.99.
Assessment: Four weekly tests plus a 90-minute final examination. Your combined score for the
tests, which will be calculated from your best 3 results out of 4, contributes 25% to your module
mark. The final examination makes up the remaining 75% of the module credit.
Commitment: 30 lectures.
Prerequisite(s): First year MA132 Foundations, MA106 Linear Algebra, and MA242 Algebra I
Content: This is an introductory abstract algebra module. Abstract algebra is a bit like solfeggio.
The latter is an abstract language that is served to preserve and communicate beautiful music. The
former is an abstract language to preserve and communicate beautiful mathematics, and both
require an essential mental effort to learn.
As the title suggests, the two main objects of the study are groups and rings. You already know that
a group is a set with one binary operation. But you have also seen examples of rings which are sets
with two binary operations. The most notable example is the set of integers with addition and
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multiplication. We will develop the theories of groups and rings. Theorems discussed include the
Orbit-Stabiliser Theorem, the Chinese Remainder Theorem, and Gauss' theorem on unique
factorisation in polynomial rings. We will also enjoy some beautiful mathematics by seeing
examples and applications such as RSA, game 15 and, maybe, the discrete Fourier transform.
Objectives: By the end of the module the student should know several results about groups and
rings as well as be able to manipulate with them.
Leads to: The results of this module are used in several modules including: MA377 Rings and
Modules, MA453 Lie Algebras, MA362 Non-commutative Rings, MA3D5 Galois Theory, MA3E1
Group and Representations and MA3G0 Modern Control Theory
Books: This is a new module, so a printed study guide will be available from the general office
toward the end of the Spring term.
The study guide will be updated during the term and will be available online at
www.maths.warwick.ac.uk/~rumynin
Assessment: Three example sheets will be assessed and are worth 5% each. Optional support
classes are available. The two-hour examination in June is worth 85%.
Commitment: 30 lectures.
Prerequisite(s): MA131 Analysis, MA244 Analysis III, MA113 Differential Equations, MA231
Vector Analysis.
Content: The theory of partial differential equations (PDE) is important both in pure and applied
mathematics. On the one hand they are used to mathematically formulate many phenomena from
the natural sciences (electromagnetism, Maxwell's equations) or social sciences (financial markets,
Black-Scholes model). On the other hand since the pioneering works on surfaces and manifolds by
Gauss and Riemann partial differential equations have been at the centre of many important
mathematical developments (geometry, Poincar-conjecture).
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In this module I will classify the most important equations and discuss the qualitative behaviour of
the solutions. I will develop several approaches to construct solutions: Method of characteristics,
Green's functions and Fourier series to solve the classical equations
The module will build upon the Analysis courses, Vector Analysis and Differential Equations. In
particular different notions of convergence of a sequence of functions will be discussed, and an
introduction to the theory of Fourier-series will be given.
Aims: To introduce the basic phenomenology of partial differential equations and their solutions.
To construct solutions using classical methods.
Objectives: At the end of the course you will be able to classify partial differential equations and
know which types of boundary conditions can be used. You will understand that the solutions of
PDEs depend in a very sensitive way on the type of the equation and you will be able to solve the
most important equations.
Leads to: MA3G1 Theory of Partial Differential Equations, MA4A2 Advanced PDEs, MA4A7
Quantum Mechanics of Atoms and Molecules, MA433 Fourier Analysis and MA592 Topics in
PDE.
Books: W. Strauss Partial Differential Equations. An introduction. John Wiley (1992).
M. Renardy and R.C. Rogers, An introduction to partial differential equations, Springer TAM 13
(2004).
Assessment: 2 hour exam.
Lecturer: Jose Luis Rodrigo
Finally, we study matrices over the integers Z, and investigate what happens when we restrict
methods of linear algebra, such as elementary row and column operations, to operations over Z.
This leads, perhaps unexpectedly, to a complete classification of finitely generated abelian groups.
Aims: To develop further and to continue the study of linear algebra, which was begun in Year 1.
To point out and briefly discuss applications of the techniques developed to other branches of
mathematics, physics, etc.
Objectives: By the end of the module students should be familiar with: the theory and computation
of the Jordan canonical form of matrices and linear maps; bilinear forms, quadratic forms, and
choosing canonical bases for these; the theory and computation of the Smith normal form for
matrices over the integers, and its application to finitely generated abelian groups.
Leads to: third year algebra modules, such as MA3D5 Galois Theory, MA377 Rings and modules.
Some of the theory is also needed in MA371 Qualitative Theory of ODEs.
Books: P M Cohn, Algebra, Vol. 1, Wiley.
I N Herstein, Topics in Algebra, Wiley.
Neither is essential, but are a good idea if you are intending to study further algebra modules.
Assessment: Assignments 15%, two-hour examination 85% (usually first week April).
Lecturer: Derek Holt
Aims: To introduce the idea of a stochastic process, and to show how simple probability and matrix
theory can be used to build this notion into a beautiful and useful piece of applied mathematics.
Objectives: At the end of the course students will:
understand the notion of a Markov chain, and how simple ideas of conditional probability and
matrices can be used to give a thorough and effective account of discrete-time Markov chains;
understand notions of long-time behaviour including transience, recurrence, and equilibrium;
be able to apply these ideas to answer basic questions in several applied situations including
genetics, branching processes and random walks.
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Prerequisite(s): MA106 Linear Algebra, MA131 Analysis, ST108 Applications of Algebra and
Analysis
Aims: This is a course of techniques which are in everyday use in probability and statistics, and
which are essential to a proper understanding of any second or third year course in these subjects. It
will provide the mathematical background for optimization, convergence, regression and best
approximation and to develop mathematical thinking.
Objectives: At the end of the course students will be familiar with and be able to apply the
following concepts and techniques:
Books: Anton & Rorres, Elementary linear Algebra, Sutherland, An Introduction to Metric
Spaces, Finney and Thomas, Calculus.
Imagine picking a real number x between 0 and 1 at random and with perfect accuracy, so that the
probability that this number belongs to any interval within [0,1] is equal to the length of the
interval. Can we compute the probability of x belonging to any subset to [0,1]?
To answer this question rigorously we need to develop a mathematical framework in which we can
model the notion of picking a real number at random. The mathematics we need, called measure
theory, permeates through much of modern mathematics, probability and statistics. The aim of the
module is to provide an introduction to this theory, concentrating on examples and applications.
Content: An introduction to the theory and application of linear regression. Introduction to time
series forecasting: moving averages and exponentially weighted regression.
Aims: To introduce the ideas of linear regression, model diagnostics, model building and time
series forecasting.
Leads to: ST404 Applied Statistical Modelling. Nearly all project work in the statistics department
(apart from theoretical projects) will require the use of the language S. Knowledge of the language
S is required for the third year of MMORSE.
Assessment: 100% by course work. There will be two assessments. The first deadline will be near
the end of the Spring Term. The second deadline will allow time for students to complete the
assessment during the first 2-3 weeks of the summer term.
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Commitment: 3 lectures/week; 1 tutorial per fortnight will be offered. It is essential for students to
prepare for and attend these tutorials as they form an important part of the learning process.
Students who do not make full use of the tutorials do not perform as well in the exam.
Content: ST217 is a key course for all students wishing to study statistics beyond the introductory
level, and a prerequisite for all further statistics and econometrics courses.
The course develops the main ideas of mathematical statistics, with an emphasis on probabilistic
inference and the basic concept of likelihood. Topics include empirical probability models, random
variables and expectations, the Central Limit Theorem and applications, parametric statistical
models and graphical methods, likelihood functions, estimation and asymptotic distributions,
hypothesis testing and confidence intervals.
ST217A is strongly recommended also to students wishing to take operational research courses,
quantitative business courses and any courses involving uncertainty, whether concerned with data
analysis, forecasting, finance, system modelling, marketing, quality management or decision
making. It is essential for students who wish to become actuaries and highly recommended to those
who wish to gain exemption from professional accountancy statistical examinations.
Aims: To introduce the main ideas of mathematical statistics and how they are used in practical
applications.
Objectives: To understand the concept of a statistical model. To understand, use and interpret the
statistical methods discussed in the course.
Leads to: ST217 Mathematical Statistics B, ST215 Forecasting and Control, ST301 Bayesian
Statistics and Decision Theory, ST304 Time Series and Forecasting, ST305 Designed Experiments,
ST323 Multivariate Statistics, ST404 Applied Statistical Modelling, ST329 Topics in Statistics,
ST332 Medical Statistics, ST337 Bayesian Forecasting and intervention, ST405 Bayesian
Forecasting and Intervention with Advanced Topics, ST414 Advanced Topics in Statistics, and all
ST3** and ST4** modules which cover the actuarial syllabus. IB320 Simulation, IB321
Forecasting, EC3xx Econometrics courses, Post graduate MSc in Financial Mathematics, Institute
of Actuaries paper CT3 (see Introduction).
Books: For both ST217A and B: G. Casella & R.L. Berger, Statistical Inference, 2nd Ed.
Duxbury. Also useful: D.S. Moore & G.P. McCabe, Introduction to the Practice of Statistics, 4th
Ed., 2002, Palgrave. M.H.DeGroot, M.J.Schervish, Probability and Statistics, 3rd Ed., 2002,
Addison-Wesley.
Assessment: 100% by examination in January (Week 1 of Term 2).
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Commitment: 3 lectures/week; 1 tutorial per fortnight will be offered. It is essential for students to
attend these tutorials as they form an important part of the learning process.
Students who do not attend the tutorials do not perform as well in the exam.
Content: This course builds on Mathematical Statistics A to study the interrelationships between
unknown quantities, enabling better predictions and decisions. The main topics covered are:
Bivariate and multivariate distributions, conditional expectations, the multivariate normal
distribution, statistical concepts and techniques for multi-parameter models, the linear statistical
model, inference for model parameters, residuals and the analysis of variance.
Aims: To review, expand and apply the ideas from ST217A (Mathematical Statistics A). In
particular to analyse interrelationships between unknowns such as random variables, rather than just
one unknown at a time.
Objectives: After completing this course, students should be able to do the following:
Quote and prove important simple results such as properties of conditional expectations and
variances, least squares estimates, and others related to the syllabus
Know and understand more advanced results such as asymptotic properties of likelihood ratios,
and some simple formulae appearing in multiple regression and analysis of variance
Apply their knowledge to derive estimators, hypothesis tests etc. in unfamiliar situations
Apply theoretical results when analysing data, and discuss the results obtained.
Books: G. Casella & R.L. Berger, Statistical Inference, 2nd Ed., Duxbury. M.H.DeGroot,
M.J.Schervish, Probability and Statistics, 3rd Ed., 2002, Addison-Wesley. D.S. Moore & G.P.
McCabe, Introduction to the Practice of Statistics, 2nd Ed., W.H. Freeman.
Leads to: ST305 Designed Experiments, ST323 Multivariate Statistics, ST404 Applied Statistical
Modelling, ST329 Topics in Statistics, ST332 Medical Statistics, ST337 Bayesian Forecasting and
intervention, ST405 Bayesian Forecasting and Intervention with Advanced Topics, ST414
Advanced Topics in Statistics and all ST3** and ST4** modules which cover the actuarial syllabus.
IB320 Simulation, IB321 Forecasting, EC306 Econometrics 2, other Econometrics courses, and
Institute of Actuaries paper CT3 (see Introduction).
Students should be aware that it is possible that ST217A & B can lead to an actuarial
exemption if a combined mark of 60 is obtained.
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Academic aims: The module aims to introduce advanced topics in mathematical economics
and applied game theory. The treatment builds on the foundation established
in EC220. Topics covered vary from year to year with staff availability and
student interest. They are likely to include some or all of variants and
refinements of Nash equilibrium (Bayesian, sequential, correlated, perfect,
etc equilibria); reputations; auction theory; mechanism design; principal-
agent theory; games on networks; evolutionary game theory; and cooperative
game theory (core and Shapley values). A major objective of this module is
advancement of the logical reasoning abilities of the students through
learning to recognise strategic aspects of economic problems, formulating
appropriately simplified game-theoretic models, and solving these models
using appropriate techniques. In the mechanism design and auction portions
of the module, students will learn how to design games to overcome
information and incentive obstacles to desirable outcomes and how to
interpret constructively the nature and evolution of social and economic
institutions. During the seminar portion, students will be expected to read
and critically discuss basic papers relating to the chosen topic.
Learning By the end of the module students will have an appreciation of the use and
objectives: limitations of formal mathematical approaches to economic theory and
applications and be familiar with the main results and open questions in the
chosen areas. The seminar portion will strengthen skills in team working, the
absorption and analysis of peer reviewed literature, conveying and
interpreting this material to a critical audience and leading discussions
around a technical topic. The project (for those students completing it) will
teach them how to select a research area, review the relevant literature,
design a research or review question and carry out and write up the results in
a way that meets academic standards of style, scholarship, clarity and rigour.
Learning The module proceeds through lecturerbased overviews of theoretical material,
methods: backed up by student reading. Active inclass discussion is encouraged. The
best way to prepare is to read the text in advance attend lectures (and ask
questions) in addition to working exercises. During the seminars, groups of
students present material based on suggested readings. These presentations
can be synthetic (summarising the literature as regards a specific issue) or
critical (developing a critical analysis of a seminal paper in light of
subsequent research or a recent paper in light of related or prior work).
Presenters are expected to lead a discussion rather than deliver a lecture.
Success in the module consists in being able to interpret economic problems
in gametheoretic terms, solve specific noncooperative games of
incomplete information using appropriate solution concepts and design
games to solve specific implementation problems. The best preparation is
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solving problems.
For students taking one half of the module the assessed essay (project)
component comprises a 2000-word essay.
Term 2:
Normal Form (Static Games) and Extensive Form games and Nash equilibria: Recap.
Weaker (than Nash) Solution Concepts : Iterated Elimination of strictly/weakly dominated
strategies, Rationalisability, Correlated Equilibria.
Refinements of Nash equilibrium: Subgame Perfect Equilibria, Trembling hand perfection,
proper equilibria.
Critique of Equilibrium Theory and Evolutionary Game Theory.
Links with Nash equilibria and refinements.
Dynamic Games.
Markov Perfect Equilibrium.
Adverse Selection and Moral Hazard: Incentives Theory.
Seminar presentations
Illustrative reading:
Introductory:
R. Gibbons, A Primer in Game Theory, Prentice Hall
A. Mas-Collell, M. Whinston and J. Green, Microeconomic Theory, OUP
K. Binmore, Fun and Games, Houghton Mifflin
G. Romp, Game Theory, C. D. Aliprantis, S. K. Chakrabarti, Games and Decision Making, OUP,
M. Osborne, An Introduction to Game Theory, OUP
Advanced: D. Fudenberg and J. Tirole, Game Theory, MIT Press 1994
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Syllabus:
Topic 1: Welfare Economics, Social Choice and Cost-Benefit Analysis
Positive economics tries to understand how the economy functions; what will happen if policy A is
employed as opposed to policy B. Supposing that we understand what our choices are as well as
their consequences, society needs to choose among its many options. This is the role of normative
economics---to guide our thinking about how and why to make such choices. For example, there is
some probability that the green-house effect will impact disastrously future generations. How much
should current generations give up for certain to limit the possible damage to future ones? Given a
certain amount of foreign aid to a developing region how much should be used for current
consumption and how much for population control so that there will be fewer people to feed in the
future with possibly better lives. How much should be invested in highway safety to save just one
more life? More mundanely, was the policy that the brewers sell off large numbers of managed
and/or owned pubs a good one? Traditional welfare economics takes the possible states of the
economy as given and asks how one is to choose among them. Many possibilities will be
considered beginning with the rejection of utilitarianism in the 30s and the various compensation
tests that were proposed to replace it, most importantly the Boadway paradox. The failure of these
compensation tests leads naturally to the study of Bergson-Samuelson social welfare functions to
make choices among the many alternatives available. This part of the course entails understanding
the first and second theorems of welfare economics and more generally the notion of Pareto
efficiency. What is the origin of these social welfare functions? That is the question that is central
to social choice theory. Here we study Arrow's impossibility theorem and the possibilities that arise
when intra-personal comparisons of utility are permitted. This part of the course requires the
understanding of a limited amount of symbolic logic which will be presented in the lectures.
Although social choice theory may tell us how to make choices, for the most part, economists rely
upon the tools of cost-benefit analysis. We will study these tools in order understand the ethics that
are implicit in their use. More specifically we will show that when cost-benefit studies are
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internally consistent they are simply implementing a specific social welfare function without having
explicitly admitted such an ethical choice.
This part of the module discusses the economic approach to law. There are various topics covered
under this heading, as the standard texts by Shavell, Katz and Cooter & Ulen discuss. The
treatment here will be much less comprehensive and will develop three points of view. The first is
the idea of mechanism design - in this view, legal structures constitute the 'rules of the game' for
economic (or other rational) agents in society. The second is the game theoretic perspective,
according to which the analysis of behaviour within legal and economic institutions can be
understood by considering individuals' strategic interactions, taking account of their motivations
(payoffs or incentives), powers of action (strategies) and information. The third is contractarian
and considers the creation of legal institutions as a conscious activity of individuals. In this view,
one can consider contract, civil and criminal law as follows: contract refers to the 'private law'
created between contracting parties, civil law refers to the implicit social contract that binds people
not to injure each other and criminal law refers to the explicit contract to which all citizens are
bound. The lectures will not deal with criminal law.
This part of the module covers modern duality theory in microeconomics and some of its numerous
applications. In conventional microeconomic theory, the primitives of economic agents (such as the
consumers preferences or the producers technologies) are defined over the primal space of the
quantities of commodities. Economic agents are assumed to possess optimising natures (e.g.,
consumers are assumed to maximise utility or minimise expenditure and producers are often
assumed to maximise profits or minimise production costs). An axiomatic approach is then adopted
to derive certain regular features about the behaviour of economic agents (e.g., the law of demand
in the theory of the consumer and the upward sloping supply curve in the theory of the firm).
However, conducting these analyses in the primal space of quantities is computationally very
demanding and tedious. Also, it may be less tractable for empirical purposes.
The basic premise of modern duality theory is the optimising behaviour of economic agents. Under
certain conditions, this behaviour induces a nexus between the primal variables (such as the
quantities demanded by the consumers and the quantities supplied by the firms) and the dual
variables (such as the prices of commodities and consumer incomes.) This makes possible an
equivalent representation of the primitives of economic agents (e.g., the consumers preferences and
the producers technologies) in the space of the dual variables. This proves to be extremely
convenient when we exploit a very powerful result called the envelope theorem. By applying this
result, we can derive effortlessly (by simply taking a few derivatives of appropriate functions) (i)
many economic variables of interests (e.g., the consumer demands, the producer supplies, indicators
of consumer welfare, etc.) and (ii) the laws governing the way they respond to changes in other
economic variables (e.g., changes in prices, consumer incomes, governments tax policies, etc.)
Because of its simplicity, elegance, and intuitive appeal, modern duality theory has become a
powerful tool of analyses in both theoretical and empirical works. It has widespread applications in
all fields of economics. The applications that we will study may include those in (i) public
economics (such as the theory of optimal taxation in second best worlds), (ii) the index number
theory, (iii) the measurement of technical efficiency, growth, and productivity of firms, (iv)
defining and deriving the correct notion of the elasticity of substitution in production, etc.
Illustrative In view of the eclectic nature of the course and the heavy emphasis on
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reading: studentled learning, there are no set texts or reading for this course.
Lecturers will supply lists of suggested reading to accompany their
material.
Context: See your degree course regulations. Students who have taken IB215
(Principles of Finance) are not permitted to take this module.
This is an optional module for L100, L112, LV13, L1MD (Economics major
and Politics and International Studies major), GL11, V7ML, V7MA, V7MB,
V7MC and V7MD students.
Note: 2010/11 IB215 has been replaced by IB2530 Principles of Finance 1 and
IB2540 Principles of Finance 2
Academic aims: The module aims to develop the general intellectual abilities in understanding
the roles of capital markets, corporate policy and governance, and the causes
for the financial crises. It also introduces the subject specific technical skills
in finance and financial policy for firms.
Learning By the end of the module students will have acquired basic understanding of
objectives: the roles of the capital markets, corporate financial policy and corporate
governance, how financial crises arise. They are also expected to demonstrate
subjectspecific technical skills in asset valuation and some simple game-
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theoretical models.
Learning methods: It is important to possess the textbook, attend lectures regularly from the start,
prepare for them as your tutor recommends, and follow the reading which is
associated with each lecture and topic. Provided that that you have already
worked hard and acquired the modules necessary analytical core, there is
some scope for selecting topics and specialising according to your personal
interests.
Basic linear first order difference and differential equations are applied in
EC333 to monetary models of exchange rate determination.
Other mathematical tools and concepts, (e.g. signalling games, agency games,
moral hazard, adverse selection) are used, but are developed within the
module in a self-contained way.
This part of the course introduces the basic theories of finance. The topics
cover:
c) Option pricing
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e) Real Options
Current events, beginning in East Asia, with the collapse of the currencies of
the former Asian Tiger economies, and spreading round the world to
economies such as Russia and Brazil, have focussed attention on international
financial crises. This part of the module reviews models of international
financial crises and evaluates the extent to which they help us understand the
facts. The topics in this part include:
d) Towards the third generation models and East Asian financial crisis
Illustrative Allen, F. and D. Gale (1994), Financial Innovation and Risk Sharing, MIT
reading: Press.
Copeland, T.E., and F.J. Weston (1988), Financial Theory and Corporate
Policy, 3rd edition, AddisonWesley.
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Context: See your degree course regulations. To take this module, you must have taken
either EC333 or IB215 (Principles of Finance) but not both. Be advised that
the module also has substantial mathematical content.
Note: 2010/11 IB215 has been replaced by IB2530 Principles of Finance 1 and
IB2540 Principles of Finance 2
Academic aims: The module aims to develop the general intellectual abilities in understanding
the roles of capital markets, corporate policy and governance, and the causes
for the financial crises. It also introduces the subject specific technical skills
in finance and financial policy.
Learning By the end of the module students will have acquired basic understanding of
objectives: the roles of the capital markets, corporate financial policy and corporate
governance and the origin of financial crises. They are also expected to
demonstrate subjectspecific technical skills in project and firm valuation and
some simple game-theoretical models.
Learning methods: It is important to possess the textbook, attend lectures regularly from the start,
prepare for them as your tutor recommends, and follow the reading associated
with each lecture and topic. Provided that that you have already worked hard
and acquired the modules necessary analytical core, there is some scope for
selecting topics and specialising according to personal interests.
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(ii) Debt holders vs. entrepreneurs (moral hazard problem also arises
between equity holders and managers)
(ii) Hold-up
(iii) Renegotiation
b) Signalling
(i) IPOs
a) Introduction
c) Managerial independence
e) Empirical evidence
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Other books:
Tutor Responsible:
TBA
Academic Rationale:
The module aims to:
Objectives:
By the end of the module, students should be able to:
Describe how the equity and bond markets function, and their importance to both individual
investors and institutions.
use discounted cash-flow techniques to value stocks and bonds, and spreadsheets to test how
robust those values are to changes in key inputs.
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explain how risk can be diversified by forming portfolios of assets, and how to construct an
optimum portfolio of risky assets.
critically assess both theoretical and empirical relationships between risk and return.
formulate different hypotheses for the term structure of interest rates.
calculate spot and forward rates of interest from observed prices of calibration bonds, and
use those rates to price other bonds and identify arbitrage opportunities.
define the different forms of market efficiency, and interpret the results of key tests of the
Efficient Markets Hypothesis.
write informed critiques of key issues in asset valuation and empirical testing of asset-
valuation models.
analyse brief case-studies and construct arguments to support a particular solution.
use web-based resources to find and retrieve financial-market data, and spreadsheets to
process that data.
explain and interpret financial-market data.
Assessment:
12 CATS:
1.5 hour Examination (75%)
Class Test 1 (10%)
Class Test 2 (15%)
Academic Rationale:
Objectives:
By the end of the module, students should be able to:
Describe how derivatives markets function, and their importance to both individual investors
and corporate decision-makers.
use analytical models and/or spreadsheets to value simple derivative securities and to assess
how robust those values are to changes in key inputs.
use discounted cash-flow techniques to estimate the value added by capital projects.
compute the cost of capital of a firm under alternative assumptions.
apply option-pricing techniques to value a firm's equity and debt.
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critically assess the factors that determine the optimal investment, financing and payout
decisions of a firm.
discuss the main motives for mergers and acquisitions.
identify the reasons why firms raise capital.
write informed critiques of key issues in corporate finance and empirical testing of corporate
finance models.
analyse brief case studies and construct arguments to support a particular solution.
use web-based resources to find and retrieve data on companies, and spreadsheets to process
that data.
explain and interpret corporate financial information.
Assessment:
12 CATS:
1.5 hour examination (80%)
45 minute class test (20%)
This module is an option for MORSE and MMORSE students only. MathStats and MMathStats
students may take this module as an unusual option.
Note: Students can only take IB3A7 The Practice of Operational Research in their third year.
Academic Rationale: The module covers the theoretical frameworks and craft processes associated
with the conduction of operational research (OR) studies in organisations. While other OR modules
generally provide specific technical capabilities, this module supplies the general approaches and
skills necessary to use these techniques effectively in organizational interventions.
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Books: Daellenbach, H.G. and McNickle D.C. (2005). Management Science: decision making
through systems thinking, Basingstoke: Palgrave MacMillan; Mitchell, G. (1993) The Practice of
Operational Research, Chichester: Wiley; Pidd, M. (2003) Tools for Thinking: modelling in
Management Science (2nd ed.), Chichester: Wiley; Rivett, B.H.P. (1994) The Craft of Decision
Modelling, Chichester: Wiley; Rosenhead, J. and Mingers, J. (2001) Rational Analysis for a
Problematic World Revisited: problem structuring methods for complexity, uncertainty and conflict
(2nd ed.), Chichester: Wiley.
Objectives: Simulation is one of the most commonly used operational research methods for
analysing complex operational/ industrial problems. This course will focus on discrete event
simulation. Students will learn the theoretical underpinnings of the methods and the range of
applications for which they are useful. They will gain practical experience in problem solving using
commercial simulation software.
The course assumes the student has covered some introductory courses in computer programming
and statistics.
Content: Topics covered will be: introduction to simulation methods, the discrete-event simulation
method, software for discrete-event simulation (with use of a specific package e.g. Simul8 or
Witness), performing a simulation study (conceptual modelling, data collection and analysis,
experimentation and verification and validation).
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The tutorials provide the opportunity for supervised exercises and help students develop their own
computer based simulation programmes.
Books: Robinson, S. (2003), Simulation: The Practice of Model Development and Use, Wiley
Commitment: 8 x 2 hour lectures and 1 tutorial hour per week for students for 7 weeks.
Note: The Business School has placed a restriction which makes this module unavailable to
students who have already taken ST215, Forecasting and Control, in their second year.
Commitment: Two 1-hour lectures per week plus one 1-hour seminar per week.
Prerequisite(s): Some basic ideas of statistics and probability (eg estimation and prediction
intervals for simple linear regression), and a familiarity with multiple regression analysis and
University computing facilities will be assumed.
Aims: This module aims to provide an introduction to current forecasting methods and develop
practical competence in their use, and concentrates on the models for short term forecasting as these
illustrate all the basic principles of analysing, comparing and extrapolating different models.
This module can be taken in the third year (IB349) or fourth year with advanced topics (IB408).
You must notify the Lecturer concerned which variant you wish to take. Bear this in mind when
planning your module selection. Recall: a BSc.MMORSE student must take at least 120 CATS
of level 4+ modules over their 3rd & 4th years.
Commitment: Mixture of lectures, group exercises and case studies averaging approx. 2.5-hours
per week.
Aim: To develop a framework for the practical application of a selection of modelling and
analytical techniques which can be used to support strategic planning process.
Students from a range of academic backgrounds may be interest in the module; those from a
scientific background will discover the application area of strategic planning within which
techniques can usefully be employed and those from a business background will discover the use of
structured methods relevant to the practice of strategic planning.
Content: A conceptual model of the strategic planning process is introduced which identifies a set
of essential elements. The module then focuses on a number of the elements including strategy
formulation, a system model, assessment of uncertainty and evaluation and selection. Methods and
models to support the planning process include:
Corporate modelling/System Dynamics.
Scenario planning.
Risk Analysis.
Strategy evaluation.
Balanced Scorecard.
Visioning.
Particular attention will be paid to system dynamics modelling for strategy support and scenario
development for describing and assessing uncertainty. The teaching style emphasises the practical
application of techniques for strategy support through the use of case studies and group exercises.
Books: R.G. Dyson and F.A. OBrien, Supporting Strategy: Methods & Models, Wiley (2007).
Assessment: 100% assessed.
System Dynamics - Group Assessment (2000 words including computer model output) - 40%
Scenario Planning - Individual Assessment (2000 words) - 60%.
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Commitment: 2 x 1 hour lecture and one 1-hour problem class per week, plus assessed work.
Content: Unconstrained and constrained optimisations, quadratic programming, search methods for
constrained optimisation problems, combinatoral optimisation, approximation algorithms and
modern heuristic techniques for combinatoral optimisation problems.
Assessment: 2- hour open book examination (80%) and assessed exercise (20%).
For WBS students, this module builds upon IB114 Financial Management and IB235 Finance 1,
which are prerequisites.
For non-WBS students, this module builds upon IB215 Principles of Finance (2010/11 IB253
Principles of Finance 1 & IB254 Principles of Finance 2), which is a prerequisite.
This module complements the third-year electives IB359 Derivatives and Financial Risk
Management and IB394 International Financial Management.
Portfolio construction.
Asset pricing models.
Testing and use of pricing models.
Performance measurement.
Bond and interest-rate markets.
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This module is worth 12 Credit Accumulation and Transfer Scheme (CATS) points.
Recommended text: Bodie, Z, Kane A and Marcus AJ, Investments (7th ed.), McGraw-Hill 2008.
Other texts:; Elton EJ, Gruber MJ, Brown SJ and Goetzmann WN, Modern Portfolio Theory and
Investment Analysis (7th ed.), Wiley 2007.; Chew D and Stern J, The Revolution in Corporate
Finance (4th ed.), Blackwell 2003.; Shiller R, Irrational Exuberance (2nd ed.), Princeton 2005.;
Swensen D, Pioneering Portfolio Management: An Unconventional Approach to Institutional
Investment (2nd ed.), Free Press 2008.
For WBS students, this module builds upon IB114 Financial Management and IB235 Finance 1,
which are prerequisites.
For non-WBS students, this module builds upon IB215 Principles of Finance (2010/11 IB253
Principles of Finance 1 & IB254 Principles of Finance 2), which is a prerequisite.
This module complements the third-year electives IB357 Investment Management and IB394
International Financial Management.
The module aims to extend your knowledge and understanding of the quantitative theory of
financial risk, and how that risk can be managed by means of hedging; to develop your critical
reasoning skills in the context of financial derivatives and financial risk management; and to equip
you with the practical skills which you will need to apply financial derivatives to hedging and risk
management.
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Apply statistical tools to both time-series and cross-sectional data to derive meaningful risk
management metrics.
Understand the implications of hedging via risk-neutral replication.
Construct hedge portfolios, with both unconstrained and restricted choices of hedging
instrument.
Price and hedge a range of non-vanilla products using simple lattice methods and simulation
techniques.
1 x 2 hour lecture per week for 9 weeks; 1 x 1 hour seminar per week for 9 weeks
This module is worth 12 Credit Accumulation and Transfer Scheme (CATS) points.
Recommended text: Hull J, Options, Futures and Other Derivatives (6th ed.), Pearson 2006.
Other texts: Hull J, Fundamentals of Futures and Options Markets (6th ed.), Pearson 2008; Hull J,
Risk Management and Financial Institutions
This module can be taken in the third year (IB391) or fourth year with advanced topics (IB407).
You must notify the Lecturer concerned which variant you wish to take. Bear this in mind when
planning your module selection. Recall: a BSc.MMORSE student must take at least 120 CATS,
of level 4+ modules over their 3rd & 4th years.
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The second part of the course deals with the use of optimisation based techniques for the assessment
of the relative efficiency of organisational units, such as bank branches, pubs, hospitals, schools,
etc. For each inefficient unit the models provide a range of diagnostic output. This includes
identifying the target performance levels that the inefficient unit should achieve to become efficient
and which of the other units operate in a similar manner but achieve efficiency. The latter enables
benchmarking and the dissemination of best practice.
The methodologies developed in the course have numerous applications in the private and public
sectors. The course is supported by the use of specialised software and spreadsheets.
Assessment: 1 x Assessment, 1 x Exam. NB: IB391 will be examined in the first week of
Summer Term.
Lecturer: Estelle Shale
Availability: This module is available to final year (4) MMORSE students only.
A list of potential titles will be e mailed to students the week prior to the start of the academic year.
Other titles are possible by individual arrangements.
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Content: This is a 4th year variant of the existing module IB391 Decision Analysis. This course
builds upon the foundation of the two courses: Mathematical Programming I and Mathematical
Programming II, which are the prerequisites.
In comparison with the existing 3rd year IB391, the proposed module has an extended bibliography,
would require significantly more reading and the assignment will be marked to a higher standard.
The course consists of two closely related but nevertheless distinct parts: decision analysis and
efficiency assessment. The former is represented by multiple criteria problems in which a number
of objectives have to be achieved, for example, the maximisation of profit or market share whilst
simultaneously minimising environmental impact. The mathematical models and optimisation
techniques for the solution of such problems are considered.
The second part of the course deals with the use of optimisation based techniques for the assessment
of the relative efficiency of organisational units, such as bank branches, pubs, hospitals, schools,
etc. For each inefficient unit the models provide a range of diagnostic output. This includes
identifying the target performance levels that the inefficient unit should achieve to become efficient
and which of the other units operate in a similar manner but achieve efficiency. The latter enables
benchmarking and the dissemination of best practice.
The methodologies developed in the course have numerous applications in the private and public
sectors. The course is supported by the use of specialised software and spreadsheets.
Books:
E. Thanassoulis. Introduction to the Theory and Application of Data Envelopment Analysis.
Kluwer: Dordrecht, 2001
W.W. Cooper, L.M. Seiford, K. Tone. Data Envelopment Analysis. Kluwer: Dordrecht, 2000
W.L. Winston. Operations Research, 3d edition. Duxbury Press, 1994
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Commitment: 2x1 hour lectures and 1x1 hour seminar per week.
Commitment: Mixture of lectures, group exercises and case studies averaging approx. 2.5-hours
per week. Additional material will be given on the evaluation of Scenario Planning which
involves additional contact time (lecture and discussion) and an additional component to an
assessment.
Aim: To develop a framework for the practical application of a selection of modelling and
analytical techniques which can be used to support strategic planning process.
Students from a range of academic backgrounds may be interest in the module; those from a
scientific background will discover the application area of strategic planning within which
techniques can usefully be employed and those from a business background will discover the use of
structured methods relevant to the practice of strategic planning.
Content: A conceptual model of the strategic planning process is introduced which identifies a set
of essential elements. The module then focuses on a number of the elements including strategy
formulation, a system model, assessment of uncertainty and evaluation and selection. Methods and
models to support the planning process include:
Corporate modelling/System Dynamics.
Scenario planning.
Risk Analysis.
Strategy evaluation.
Balanced Scorecard.
Visioning.
Particular attention will be paid to system dynamics modelling for strategy support and scenario
development for describing and assessing uncertainty. The teaching style emphasises the practical
application of techniques for strategy support through the use of case studies and group exercises.
Books: R.G. Dyson and F.A. OBrien, Supporting Strategy: Methods & Models, Wiley (2007).
Assessment: 100% assessed.
System Dynamics - Group Assessment (2000 words including computer model output) - 40% Scenario
Planning - Individual Assessment (2000 words) - 60%
Lecturer: Frances OBrien
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Academic Rationale: This module recognises the essential role that computing plays in
Operational Research, and the need for the students to develop hands on experience, good
modelling and design skills and an understanding of the role of popular business computing tools.
It includes both a top-down conceptual modelling/design and a bottom-up skills based course. The
module demonstrates and develops both conceptual and practical understanding of the fundamental
computing tool of spreadsheets and the problems they can address. There is an emphasis on OR
applications such as simulation, stochastic and data management processes. The module aims to
promote good analysis and design skills so that the student can build or specify applications that
both meet the requirements and are usable and well documented. To this end the focus includes
both methodological rigour and practical problem-solving techniques, and computer programming
for control and usability of custom applications.
Objectives:
Understand the capabilities and contribution that computer-based spreadsheets can offer in
business and operational research.
Design a functional, well structured, documented and usable spreadsheet application.
Implement a functional, well structured, documented and usable spreadsheet application.
Work collaboratively towards application design.
Design and write simple computer programs.
Know how to develop and use a spreadsheet for investigating a problem situation.
Syllabus: The module covers conceptual modelling, design and implementation. T his includes
basic model building and formatting, data validation, data analysis and simulation techniques,
charts and special functions. Then it presents a gradual but progressive introduction to the
capability of computer programming within the package including basic syntax and structure of
programming, conditional and repeated routines, interacting with the user. All these are treated
within the context of operational research oriented problems.
Books:
Edwards, J.S. and Finlay, P. (1997). Decision Making with Computers. Pitman.
Harvey, G. (2003). Excel 2003 for Dummies. Hungry Minds.
Harvey, G. (2006). Excel 2007 for Dummies. Hungry Minds.
Walkenbach, J. (2004). Excel VBA Programming for Dummies. Wiley.
Walkenbach, J. and Pieterse JK (2007). Excel 2007 VBA Programming for Dummies. Hungry
Minds.
Walkenbach, J. (2004). Excel 2003 Power Programming with VBA. Hungry Minds.
Walkenbach, J. (2007). Excel 2007 Power Programming with VBA. Wiley.
MATHEMATICS
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Only the third year analysis courses are listed below. For others in algebra and topology, see the
Mathematics PYDC booklet. Each course carries a commitment of 3 lectures per week, and unless
stated otherwise is assessed solely by examination.
Commitment: 30 hours.
Prerequisite(s): MA132 Foundations, MA222 Metric Spaces, MA244 Analysis III.
Content: A measure m is a law which assigns a number m(A) to certain subsets A of a given space.
Measures are indispensable tools in various fields of mathematics: in geometry, measures are used
to quantify areas and volumes; in probability theory, measures are used to quantify the probability
of events; in dynamics, measures are used to quantify the fraction of time a chaotic system spends
in a given state.
Given a measure m, one can define the integral of suitable real valued functions with respect to m.
Lebesgue's integral is what you get when you integrate with respect to Lebesgue's measure, which is
the measure on the real line which assigns to intervals their lengths. Although Lebesgue's integral
coincides with the regulated integral for regulated functions, it is much more comfortable to use. This
is because the class of Lebesgue integrable functions is significantly larger than that of regulated
functions, and since the Lebesgue integral is more adapted to limit procedures than the regulated
integral. Indeed, very often the pointwise limit of a sequence of regulated functions looses its
regularity, but retains its Lebesgue integrability. It is therefore not surprising that Modern Analysis is
based on the Lebesgue integral and its generalizations, and not on the regulated integral.
The Module will cover the following topics: Definition of a measurable space and -additive
measures, Construction of Lebesgue's measure and Carathodory's extension procedure, Lebesgue
measurability, Construction of a non-measurable set, Regularity of Lebesgue measurable sets,
Measurable Functions, Lusin's Theorem, Egoroff's Theorem, Integral with respect to a measure and
approximation by measurable step functions, Fatou's Lemma, Monotone Convergence Theorem,
Dominated Convergence Theorem, Product Measures and Fubini's Theorem.
Aim: To introduce the concepts of measure and integral with respect to a measure and to discuss
their basic properties, so as to provide a basis for further studies in Analysis, Probability, and
Dynamical Systems.
Objective: To construct Lebesgue's measure on the real line; to construct the integral and discuss its
basic properties; to explain the basic properties of measurable functions with emphasis on proofs by
approximation; to define product measures.
Leads to: ST318 Probability Theory, MA3D4 Fractal Geometry, MA482 Stochastic Analysis,
MA496 Signal Processing, Fourier Analysis and Wavelets, MA3F4 Linear Analysis.
Books: Stein, E. M. and Shakarchi, R. Real Analysis - measure theory, integration and Hilbert
spaces. (Princeton Lectures in Analyis III) Princeton University Press (2005). Royden, H. L.: Real
Analysis, Third Edition, Macmillan Publishing Company (1988).Rudin, W.: Real and Complex
Analysis, Third Edition, McGraw-Hill Book Company (1987). Halmos, P. R.: Measure Theory, D.
Van Nostrand Company Inc., Princeton, N.J. (1950).
Prerequisite(s): You should revise the material from MA225 Differentiation and MA244 Analysis
III; MA222 Metric Spaces would be useful but not essential; MA359 Measure Theory would be a
natural course to take in parallel.
Commitment: 30 lectures.
Content: This is essentially a module about infinite-dimensional Hilbert spaces, which arise
naturally in many areas of applied mathematics. The ideas presented here allow for a rigorous
understanding of Fourier series and more generally the theory of Sturm-Liouville boundary value
problems. They also form the cornerstone of the modern theory of partial differential equations.
Hilbert spaces retain many of the familiar properties of finite-dimensional Euclidean spaces ( R n ) -
in particular the inner product and the derived notions of length and distance - while requiring an
infinite number of basis elements. The fact that the spaces are infinite-dimensional introduces new
possibilities, and much of the theory is devoted to reasserting control over these under suitable
conditions.
The module falls, roughly, into three parts. In the first we will introduce Hilbert spaces via a
number of canonical examples, and investigate the geometric parallels with Euclidean spaces (inner
product, expansion in terms of basis elements, etc). We will then consider various different notions
of convergence in a Hilbert space, which although equivalent in finite-dimensional spaces differ in
this context. Finally we consider properties of linear operatorsbetween Hilbert spaces
(corresponding to the theory of matrices between finite-dimensional spaces), in particular
recovering for a special class of such operators (compact self-adjoint operators) very similar results
to those available in the finite-dimensional setting.
Throughout the abstract theory will be motivated and illustrated by more concrete examples.
Books: Printed lecture notes will be provided, which will contain all the material in the module. A
useful book to use as an accompanying reference is:BP Rynne & MA Youngson, Linear Functional
Analysis, Springer-Verlag, London, 2000.
Leads to: MA3F4 Functional Analysis II, MA3G1 Theory of PDEs, MA433 Fourier Analysis,
MA482 Stochastic Analysis, MA4A2 Advanced PDES, MA4G6 Calculus of Variations, MA4G8
Computational PDE
Commitment: 30 lectures.
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Content: Bayesian statistics is one of the fastest growing areas in statistics. With the advance of
computer technology it is now a highly practical methodology for addressing many important high
dimensional decision problems as well as being underpinned by a sound mathematical foundation.
It is especially useful when some of the components of uncertainty have only sparsely collected
data associated with them, so that expert judgements need to be incorporated. The course first
introduces the central concepts of Bayesian decision analysis through a selection of simple
examples. Various methodologies are then presented for:
Structuring a decision problem for example by decision trees and influence diagrams.
Eliciting probability distributions over many variables using the concepts of irrelevance and
the Belief net.
Eliciting the objectives and preferences of the client developing the ideas of m.u.i.a. and value
independence and the use of the decision conference.
The formal methodologies are illustrated through a wide range of examples for health, the
environment, finance and public sector administration. Some of the examples build on the practical
experience of the lecturer as an active Bayesian decision analyst.
Aims:
To demonstrate how to build statistical models of non-trivial problems when data is sparse and
expert judgements need to be incorporated.
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Important: If you decide to take ST305 you cannot then take ST410. Bear this in mind when
planning your module selection. Recall: a BSc.MMORSE student must take at least 120 CATS,
of level 4+ modules over their 3rd & 4th years.
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the experimental constraints. Further topics such as repeated measures and non-linear design will
conclude the module.
Aims: This course aims to give students a sound understanding of experimental design, both
theoretical and practical. The course will explore the method of analysis of variance and show how
it is structurally linked to particular types of design. The combinatoric properties of designs will be
explored, and the impact of computers on classical design considered. Examples from many
different application areas will be given throughout.
Objectives: By the end of the course students will be able to:
Describe the basic principles behind designed experiments
Construct the design matrix for simple experiments and estimate their parameters
Perform an analysis of variance on standard experimental designs
Distinguish between different designs and recognise their efficiency / utility
Show the relationship between designing experiments and analysing the resulting data
Perform diagnostic tests on the results from a designed experiment.
Take a practical design problem and determine an optimal or robust solution
Books: G Clarke & R Kempson, Introduction to the Design and Analysis of Experiments, Arnold,
1996. DR Cox & N Reid, The Theory of the Design of Experiments, Chapman & Hall / CRC, 2000.
AC Atkinson & AN Doney, Optimal Experimental Designs, Oxford, 1992. DC Montgomery,
Design and Analysis of Experiments, Wiley, 2001, 2005
Assessment: 20% by coursework and 80% by 2-hour examination. There will be two major pieces
of coursework, one at the half-way point and one at the end of the course. Other exercises will be
provided and discussed during the lectures.
Prerequisite(s): ST213 Mathematics of Random Events or MA359 Measure Theory (3rd year).
Content: Independence and conditioning, probability measures on metric spaces, types of
probabilistic convergence, an introduction to martingales.
Aims: This course aims to give the student a rigorous presentation of some fundamental results in
measure theoretic probability and an introduction to the theory of discrete time martingales. In so
doing it aims to provide a firm basis for advanced work on probability and its applications.
Objectives: The objectives of the course are as follows: at the end of the course the student will:
Understand the ideas relating to independence and zero-one laws and be able to apply these
ideas in simple contexts.
Understand the different modes of convergence for sequences of random variables (more
generally random elements) and the relationship between these different modes.
Be able to state and prove the Central Limit Theorem and understand how this result can be
applied.
Understand some basic results on discrete time martingales and how this theory can be used to
prove Kolmogorovs Strong Law of Large Numbers.
Assessment: 5% by class tests and 95% by 2-hour examination.
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Prerequisite Material: The first two main sections of the online lecture notes survey prerequisite
material on probability models and random variables and are now available online. You are
strongly advised to ensure that you are familiar with this material: if not then you should fill this
deficit for example by working through these two sections in the vacation before the module
commences.
Aims: Multivariate data arises whenever several interdependent variables are measured
simultaneously. This occurs frequently in many areas: in medicine, in the social and environmental
sciences and in economics. The analysis of such multidimensional data often presents an exciting
challenge that requires new statistical techniques which are usually implemented using computer
packages. This module aims to give you a good understanding of the geometric and algebraic ideas
that these techniques are based on, before giving you any chance to try them out on some real data
sets.
Aims:
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This short course introduces and studies the procedure of hedging in simple tree models of a
financial market. Following the fundamental work of Black and Scholes hedging is used to find the
value of derivative contracts.
Objectives:
By the end of the course students will be able to:
Calculate fair prices for simple derivatives.
Check whether or not a market is arbitrage-free and complete by investigating the existence
and uniqueness of pricing mechanisms.
Aims: This component of the course offers a practical introduction to Bayesian statistical
procedures, a rapidly developing area of statistics. Key Bayesian themes such as choice of prior
distribution, the use of hierarchical models and computational techniques will be discussed.
Aims: This course introduces easy stochastic models used in population genetics. The Wright-
Fisher model and the Moran model will be described but Coalescent theory will consistute the core
of the course. Its use will be illustrated by a number of applications in molecular genetics.
Objectives: By the end of the course students should be able to:a) describe the Wright-Fisher and
Moran models;
b) derive the coalescent theory in simple applications;
c) use coalescent theory in simple applications.
Important: If you decide to take ST332 you cannot then take ST409. Bear this in mind when
planning your module selection. Recall: a BSc.MMORSE student must take at least 120 CATS
of level 4+ modules over their 3rd & 4th years.
Commitment: 3 lectures/week
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Content: Modern applications of statistics to medicine are highly developed. A look at almost any
medical journal reveals that a substantial proportion of medical research papers employ statistical
techniques. Large numbers of statisticians are employed in medical research establishments,
particularly in the pharmaceutical companies and the medical schools, and medical statistics
continues to be the most buoyant area for statistical recruitment. Although the course will cover
some topics of a specifically medical nature, much of the work will be discussing basic statistical
techniques as applied to medical data, but which could equally well be applied to data arising in
other applications. Thus, whilst medicine provides the focus of the course, it could also be viewed
as a more general applied statistics course. The course will explain why and how statistics is used
in medicine, and study some of the statistical methods commonly used in medical research.
Examples and case studies in areas such as cancer, heart disease and psychiatry will be discussed.
Generalised linear models: linear models as an extension of linear regression; analysis of binary
data by logistic regression; analysis of counts and proportions. Two by two tables.
Study designs: cohort, case-control and survey designs; randomised clinical trials; sample size
and power; conditioning and covariance adjustment.
Analysis of censored survival data: life tables; hazard and survival functions; Kaplan-Meier
survival curves; parametric survival models, the proportional hazards regression model.
Objectives:
To appreciate the role of statistics in medical research.
To understand some of the statistical principles of good practice in medical investigations.
To understand how to use and interpret some of the statistical techniques used in medical data
analysis.
Important: If you decide to take ST333 you cannot then take ST406. Bear this in mind when
planning your module selection. Recall: a BSc.MMORSE student must take at least 120 CATS
of level 4+ modules over their 3rd & 4th years.
Aims: To provide an introduction to concepts and techniques which are fundamental in modern
applied probability theory and operations research:
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These ideas have a vast range of applications, for example routing algorithms in
telecommunications (queues), assessment of apparent spatial order in astronomical data (stochastic
geometry), description of outbreaks of disease (epidemics). We will only be able to introduce each
area - indeed each area could easily be the subject of a course on its own! But the introduction will
provide you with a good base to follow up where and when required. (For example: a MORSE
student graduating in 1996 found the next year their firm was asking them to address problems in
queuing theory, for which ST333 provided the basis.) We will discuss these and other applications
and show how the ideas of stochastic process theory help in formulating and solving relevant
questions.
Objectives: At the end of the course students will:
Be able to formulate continuous-time Markov chain models for applied problems.
Be able to use basic theory to gain quick answers to important questions (for example, what is
the equilibrium distribution for a specific reversible Markov chain?).
Be able to solve for the transition probabilities for Markov chains on a finite state space.
Commitment: This will be a reading course based on handouts; there will be a one hour session
every week.
Content:
Interest rates and discount rates.
Equations of value and compound interest calculations.
Discounted cash flow.
Types of investment.
Concept of arbitrage.
Introduction to the term structure of interest rates.
Stochastic interest rate models.
Leads to: Knowledge of basic financial terminology necessary for several other modules.
Assessment: 3 one-hour class tests (each 15%) with 2-hour examination in January (55%).
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Prerequisite(s): None.
Students may not take this module and IB109 Foundations of Accounting and Finance.
Content:
Structure of a joint stock company and the different methods by which it may be financed.
Basic principles of personal and corporate taxation.
Principal forms of financial instruments.
Factors to be considered by a company when deciding on its capital structure and dividend
policy.
Companys cost of capital and how its cost of capital interacts with the nature of investment
projects.
The major forms of financial institution.
Role and principal features of the accounts of a company.
Construction of simple balance sheets, profit and loss accounts and cash flow statements.
Interpretation of financial statements.
Assessment: Two hour examination (80%) and two one-hour class tests (10% each).
Important: If you decide to take ST337 you cannot then take ST405. Bear this in mind when
planning your module selection. Recall: a BSc.MMORSE student must take at least 120 CATS
of level 4+ modules over their 3rd & 4th years.
Rationale: Forecasting is a vital prerequisite to decision making. This course is concerned with the
theory and practice of short-term forecasting, using both data and subjective information. The
course focuses on Dynamic Linear Models (DLM). DLMs are a class of Bayesian Forecasting
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Models which generalise linear regression models and static statistical linear models. The course
offers a very powerful fundamental probabilistic approach to forecasting, controlling and learning
about uncertain commercial, financial, economic, production, environmental and medical dynamic
systems.
Contents:
State space modelling
Bayesian updating of beliefs
Specifying Dynamic Linear Models
Updating Dynamic Linear Models, forecasting
Building Dynamic Linear Models, accommodating external information
ARIMA models, stationarity
The theory will be illustrated by real examples from industry, marketing, finance, government,
agriculture etc.
Books: Printed course notes will be available. Mike West & Jeff Harrison, Bayesian Forecasting
and Dynamic Models, 1997 (2nd edn.) Springer - Verlag. Andy Pole, Mike West & Jeff Harrison,
Applied Bayesian Forecasting and Time Series Analysis, 1994 Chapman and Hall.
Important: This module replaces ST336 Life Tables. This module is only available to students on
four year degrees in the Department of Statistics (MMORSE and MMathStat.)
Content:
Principles of actuarial modelling
Principles of stochastic processes
Markov chains and Markov processes
Survival models: lifetimes, curtate future lifetime, expected value and variance.
Estimation procedures for lifetime distributions: KaplanMeier estimate, Cox model
Multi-state Markov models.
Maximum likelihood estimators for transition intensities in multi-state models.
Binomial model of mortality.
Estimating mortality rates by age: exact methods, census approximations
Process of graduation.
Statistical tests for life tables.
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Objectives: At the end of the course, students will be familiar with calculations involving life tables
and survival analysis.
Assessment: Two-hour examination (80%) and two one-hour class tests (10% each).
Lecturer: A Batchelor
Important: This module is only available to final year (4) integrated Masters students.
Content: This module will cover the actuarial syllabus for examination CT8. It will cover material
of use in financial mathematics such as Brownian motion, portfolio theory, models of asset returns,
stochastic models of security prices, term structure of interest rates.
Aims: To enable students to study more deeply in the stream of Actuarial and Financial
Mathematics.
Books: M. Baxter and A. Rennie, Financial Calculus. J.C. Hull, Futures and Other
Derivatives.
Assessment: 2 class tests (each 10%).1 x 2 hour examination (80%) in April (Week 1 Term 3)
Important: This module is only available to final year (4) integrated Masters students.
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Content: This module will cover the actuarial syllabus for examination CT6. It will introduce
material of use in general insurance such as loss distributions, ruin, and credibility theory.
Aims: To enable students to study more deeply in the stream of Actuarial and Financial
Mathematics.
Books: C.D. Daykin, T. Pentikainen & M. Pesonon, Practical Risk Theory for Actuaries. S.A.
Klugman, Loss Models.
Assessment: 1 x 2 hour examination (80%); 2 class tests (each 10%).
Lecturer: Larbi Alili
WHY IS IT INTERESTING?
It is a beautiful mathematical object worth studying both for its own sake and because of the
deep links it has with other areas of mathematics, particularly in analysis.
Brownian motion is a fundamental tool for modelling processes which evolve randomly in time.
It is used widely in many areas of applied maths and in the last few decades it has become
essential to the study of financial maths as a model of stock prices.
We will investigate methods of constructing such random functions. It turns out the Gaussian
distribution is essential it is impossible to do with any other distribution.
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Prerequisite(s):
AT LEAST ONE OF: ST318 Probability Theory, MA359 Measure Theory.
Important: This module is only available to students on four year degrees in the Department of
Statistics (MMORSE and MMathStat).
Content: Regression is the most widely used tool in statistics. This course will start with a look at
multiple regression including variable selection and transformations. The second half of the course
will consist of topics chosen from: logistic regression, Poisson regression, robust regression, non-
linear regression, time series and simulation.
Aims: To introduce the art of statistical model-building, and to demonstrate that statistical
problems do not have precise clear-cut solutions. To give practice in writing a report on a statistical
investigation.
Assessment: 100% by coursework (five questions each worth 20%, all involving the use of
SPLUS).
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Rationale: Forecasting is a vital prerequisite to decision making. This course is concerned with the
theory and practice of short-term forecasting, using both data and subjective information. The
course focuses on Dynamic Linear Models (DLM). DLMs are a class of Bayesian Forecasting
Models which generalise linear regression models and static statistical linear models. The course
offers a very powerful fundamental probabilistic approach to forecasting, controlling and learning
about uncertain commercial, financial, economic, production, environmental and medical dynamic
systems.
Contents:
State space modelling
Bayesian updating of beliefs
Specifying Dynamic Linear Models
Updating Dynamic Linear Models, forecasting
Building Dynamic Linear Models, accommodating external information
ARIMA models, stationarity
The theory will be illustrated by real examples from industry, marketing, finance, government,
agriculture etc.
Students will be given selected advanced research material for independent study and
examination.
Books: Printed course notes will be available. Mike West & Jeff Harrison, Bayesian Forecasting
and Dynamic Models, 1997 (2nd edn.) Springer - Verlag. Andy Pole, Mike West & Jeff Harrison,
Applied Bayesian Forecasting and Time Series Analysis, 1994 Chapman and Hall.
These ideas have a vast range of applications, for example routing algorithms in
telecommunications (queues), assessment of apparent spatial order in astronomical data (stochastic
geometry), description of outbreaks of disease (epidemics). We will only be able to introduce each
area - indeed each area could easily be the subject of a course on its own! But the introduction will
provide you with a good base to follow up where and when required. (For example: a MORSE
student graduating in 1996 found the next year their firm was asking them to address problems in
queuing theory, for which ST333 provided the basis.) We will discuss these and other applications
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and show how the ideas of stochastic process theory help in formulating and solving relevant
questions.
Students will be given selected research material on advanced topics for independent study
and examination.
Aims: This module will provide students with the tools for advanced statistical modelling and
associated estimation procedures based on computer-intensive methods known as Monte Carlo
techniques.
Content: When modelling real world phenomena statisticians are often confronted with the following
dilemma: should we choose a standard model that is easy to compute with or use a more realistic
model that is not amenable to analytic computations such as determining means and p-values. We are
faced with such choice in a vast variety of application areas, some of which we will encounter in this
module. These include financial models, genetics, polymer simulation, target tracking, statistical
image analysis and missing data problems. With the advent of modern computer technology we are
no longer restricted to standard models as we can use simulation-based inference. Essentially we
replace analytic computation with sampling of probability models and statistical estimation. In this
module we discuss a variety of such methods, their advantages, disadvantages, strengths and pitfalls.
Learning Outcomes:
Knowledge of a collection of simulation methods including Markov chain Monte Carlo
(MCMC); understanding of Monte Carlo procedures.
Ability to develop and implement (in BUGS) an MCMC algorithm for a given probability
distribution
Ability to evaluate a stochastic simulation algorithm with respect to both its efficiency and the
validity of the inference results produced by it.
Ability to use Monte Carlo methods for scientific applications.
Desirable background:
A basic knowledge of the statistical programming language R or SPLUS (as taught in ST215
Forecasting and Control). Coursework will be based on R.
ST111 Probability A & ST112 Probability B or equivalent.
ST217 Mathematical Statistics A & B or equivalent.
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Syllabus:
1. Introduction and Examples: The need for Monte Carlo Techniques; History; Example
applications.
2. Basic Simulation Principles: Rejection method; variance reduction; importance sampling.
3. Markov chain theory: convergence of Markov chains; detailed balance; limit theorems.
4. Basic MCMC algorithms: Metropolis-Hastings algorithm; Gibbs sampling.
5. Implementational issues: Burn In; Convergence diagnostics, Monte Carlo error.
6. More advanced algorithms: Auxiliary variable methods; simulated and parallel tempering;
simulated annealing; reversible jump MCMC; EM algorithm.
Books:
W. Gilks et al., Markov chain Monte Carlo in practice, Chapman & Hall, 1996.
J.S. Liu, Monte Carlo Strategies in Scientific Computing, Springer, 2001.
Lecturer: Elke Thonnes
STATISTICS ST408 15 CATS
Term 1 Reading Module
NOT RUNNING 2010/11
Blank
Commitment: 3 lectures/week
Content: Modern applications of statistics to medicine are highly developed. A look at almost any
medical journal reveals that a substantial proportion of medical research papers employ statistical
techniques. Large numbers of statisticians are employed in medical research establishments,
particularly in the pharmaceutical companies and the medical schools, and medical statistics
continues to be the most buoyant area for statistical recruitment. Although the course will cover
some topics of a specifically medical nature, much of the work will be discussing basic statistical
techniques as applied to medical data, but which could equally well be applied to data arising in
other applications. Thus, whilst medicine provides the focus of the course, it could also be viewed
as a more general applied statistics course. The course will explain why and how statistics is used
in medicine, and study some of the statistical methods commonly used in medical research.
Examples and case studies in areas such as cancer, heart disease and psychiatry will be discussed.
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Generalised linear models: linear models as an extension of linear regression; analysis of binary
data by logistic regression; analysis of counts and proportions. Two by two tables.
Study designs: cohort, case-control and survey designs; randomised clinical trials; sample size
and power; conditioning and covariance adjustment.
Analysis of censored survival data: life tables; hazard and survival functions; Kaplan-Meier
survival curves; parametric survival models, the proportional hazards regression model.
Aims: To introduce applications of statistics in medicine, and some of the statistical methods
commonly used in medical research.
Objectives:
To appreciate the role of statistics in medical research.
To understand some of the statistical principles of good practice in medical investigations.
To understand how to use and interpret some of the statistical techniques used in medical data
analysis.
Books: A.J. Dobson, An introduction to generalised linear models; D.G. Altman, Practical
statistics for medical research; D. Collett, Modelling survival data in medical research. (All
Chapman & Hall)
Students will be given selected advanced material for further study and examination.
Background: Designed experiments are used in industry, agriculture, medicine and many other
areas of activity to test hypotheses, to learn about processes and to predict future responses. The
purpose of experimentation is to determine the relationship between a response variable and the
settings of a number of experimental variables which are presumed to affect it. Experimental
design is the discipline of determining the number and order (spatial or temporal) of experimental
runs, and the setting of the experimental variables.
Content: The theory of experimental design is quite mathematical while the practice involves
important eliciting and communication skills. In this course we will look at both these aspects.
Classical experimental design is based on the linear model, and the course will start with a review
of linear model theory and some simple models; we shall then examine the principles of
experimental design and analysis in design theory, in which we consider both qualitative and
quantitative factors; a significant part of the course will be spent developing aspects of factorial
design theory including confounding and fractional designs, other important topics to be included
will be response surface designs and incomplete block designs; finally, we shall discuss optimal
design in which the focus is on maximising the information available to the experimenter whatever
the experimental constraints. Further topics such as repeated measures and non-linear design will
conclude the module.
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Aims: This course aims to give students a sound understanding of experimental design, both
theoretical and practical. The course will explore the method of analysis of variance and show how
it is structurally linked to particular types of design. The combinatoric properties of designs will be
explored, and the impact of computers on classical design considered. Examples from many
different application areas will be given throughout.
Objectives: By the end of the course students will be able to:
Describe the basic principles behind designed experiments
Construct the design matrix for simple experiments and estimate their parameters
Perform an analysis of variance on standard experimental designs
Distinguish between different designs and recognise their efficiency / utility
Show the relationship between designing experiments and analysing the resulting data
Perform diagnostic tests on the results from a designed experiment.
Take a practical design problem and determine an optimal or robust solution
Books: G Clarke & R Kempson, Introduction to the Design and Analysis of Experiments, Arnold,
1996. DR Cox & N Reid, The Theory of the Design of Experiments, Chapman & Hall / CRC, 2000.
AC Atkinson & AN Doney, Optimal Experimental Designs, Oxford, 1992. DC Montgomery,
Design and Analysis of Experiments, Wiley, 2001, 2005
Students will be given selected advanced material for further study and examination.
Assessment: 20% by coursework and 80% by 2-hour examination. There will be two major pieces
of coursework, one at the half-way point and one at the end of the course. Other exercises will be
provided and discussed during the lectures.
An example of a stochastic control problem is the Red and Black problem. Essentially, this asks
what the best betting strategy is if you want to maximise your chance of winning 1000 playing
roulette.
Aims: This module is designed to cover the important area of stochastic control within applied
probability. The taught material will prepare students for careers in business, industry or
government and will also lead up to the boundaries of research.
Learning Outcomes: Students who have successfully completed this module will be able to:
Identify and deal with stochastic control and optimal stopping problems.
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Books: Ross, S.M., Introduction to Stochastic Dynamic Programming, 1983, Academic Press
Aims: Multivariate data arises whenever several interdependent variables are measured
simultaneously. This occurs frequently in many areas: in medicine, in the social and environmental
sciences and in economics. The analysis of such multidimensional data often presents an exciting
challenge that requires new statistical techniques which are usually implemented using computer
packages. This module aims to give you a good understanding of the geometric and algebraic ideas
that these techniques are based on, before giving you any chance to try them out on some real data
sets.
Students will be given selected advanced material for further study and examination.
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Content: Bayesian statistics is one of the fastest growing areas in statistics. With the advance of
computer technology it is now a highly practical methodology for addressing many important high
dimensional decision problems as well as being underpinned by a sound mathematical foundation.
It is especially useful when some of the components of uncertainty have only sparsely collected
data associated with them, so that expert judgements need to be incorporated. The course first
introduces the central concepts of Bayesian decision analysis through a selection of simple
examples. Various methodologies are then presented for:
Structuring a decision problem for example by decision trees and influence diagrams.
Eliciting probability distributions over many variables using the concepts of irrelevance and
the Belief net.
Eliciting the objectives and preferences of the client developing the ideas of m.u.i.a. and value
independence and the use of the decision conference.
The formal methodologies are illustrated through a wide range of examples for health, the
environment, finance and public sector administration. Some of the examples build on the practical
experience of the lecturer as an active Bayesian decision analyst.
Aims:
To demonstrate how to build statistical models of non-trivial problems when data is sparse and
expert judgements need to be incorporated.
To give ways to represent the pertinent features of a decision problem.
To give practical algorithms for finding decision rules which the client can expect will best
satisfy pre-specified objectives.
To train the student in the rudiments of decision analysis.
Objectives:
The student will gain an appreciation of the importance of conditional independence in subjective
(Bayesian) statistical modelling and be introduced to the DAG as an efficient representation of
collections of conditional independence statements as they arise in practice.
The student will be provided with techniques for eliciting subjective probability distributions
over many variables.
The student will be provided with techniques for eliciting quantitative preference structures
from a client which may involve competing objectives.
The student will obtain an appreciation of the foundational arguments that justify expected
utility maximisation as a paradigm for rational action.
The student will obtain practice in implementing these techniques.
The student will learn the bases of fast algorithms for the calculation of probabilities needed in
such maximisation.
Students will be given selected advanced material for further study and examination.
Assessment: 100% by 2-hour examination.
Aims:
In equity and foreign exchange markets the risk-neutral dynamics of the underlying asset are
commonly represented by a stochastic volatility model with jumps. In this short course we will
study a dense subclass of such models (given by Markov additive processes) and describe
analytically tractable formulae for the prices of a range of first-generation exotic derivatives. The
following topics will be discussed:
Recommended: A good understanding of continuous-time Markov chain theory (e.g. the content of
J. Norris, Markov Chains) and of fundamental properties of Brownian motion are essesntial. Some
familiarity with integral transforms is desirable.
Hidden Markov models (HMMs) provide a rich modelling structure for non-linear time series and
sequence analysis. The aim of this course is to familiarise students with the fundamental ideas of
HMMs including their setup, estimation and uses. In particular the following will be covered:
- The Viterbi Algorithm which is used to find the most likely underlying state sequence
The course will be motivated by examples from many applications including engineering,
economics and biological sciences.
Aims: The Stein-Chen method is a powerful modern technique which extends the Poisson 'law of
small numbers' (given n independent events each of small probability p, the total number of event
which occur is approximately Poisson of distribution np). There are many applications, for example
in bioinformatics, insurance, and the study of extreme phenomena.
The department offers two types of project: group based and individually supervised.
The group based project involves a small group of students and a member of the lecturing staff
studying a common theme in a seminar before proceeding to individual problems based on that
theme. For example you could learn about a certain class of statistical models and then individually
try to fit the models to different data sets in order to gain some practical experience. Doing a group
project you have the opportunity to learn from each other and develop skills together before
tackling your own case study.
An individually supervised project involves working, with the support of a member of the lecturing
staff, on a topic specific to you. The range of topics is very wide and reflects the research interests
of the lecturing staff. Other titles are possible by individual arrangements.
A list giving details of the projects available will be sent to all students, by e mail, the week
prior to the start of the academic year. After consulting with lecturers you should submit your
choices of project to the Course Director by the end of the first week of Term 1 (autumn term).
Project assignments will then be made during the second week of term
Changes of supervisor (and project) are not permitted after week 6 of the term 1 (autumn term).
The deadline for submission of the written dissertation is the Thursday of week 3 of term 3
(summer term). Students are advised to refer to section 5.9 Assessed Work in the handbook.
All projects, including those supervised by WBS and by Economics, must be submitted to
Hilda Cooper, the Academic Administrator.
The penalties for late submission are as described in the course handbook.
If you know that you will not meet the deadline, or you experience any difficulties which
prevent you from meeting the deadline, please inform your supervisor and Hilda Cooper
(Academic Administrator) as soon as possible.
Your project must be typed and bound and you must submit two hard copies. In the case of a
project which is supervised by the Economics Department or Warwick Business School you
must submit three hard copies.
http://www2.warwick.ac.uk/services/retail/warwickprint/bookbinding
You must make a five minute oral presentation which will be scheduled on Tuesday, Week 10
Term 1 (Autumn term). You must plan to keep this day free, other than from scheduled
lectures. 5% of credit is awarded for the presentation.
A full set of guidance notes will be in your pigeonhole at the start of term.
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This module component illustrates models arising from a variety of application in Biostatistics,
including survival analysis, flexible modelling of dose-response relations, gene expression, neural
recordings and mass spectrometry.
As such, this component aims at equipping students with a basic modelling expertise in
Biostatistics, providing a springboard to either academic or industrial careers.
Essential requirements for taking this component are a strong interest in applied statistical
modelling, along with a clear understanding of the principles of statistical inference. Useful
although not required prerequisites are previous exposure to Bayesian inference and basic
computational skills (e.g. in R, Matlab). The latter become of fundamental importance if students
are interested in developing their final project in areas linked to this module component.
By the end of this component, students will have become familiar with the mechanics of Bayesian
inference, with the scientific questions inspiring the models illustrated along this component and
with the technical issues involved by the construction of such statistical models.
This module aims to give an introduction into a new area of applied statistics. Innovative
measurement technologies have been producing large data sets in genetic laboratories which
triggered the development of statistical methods to extract useful information. Among the
challenges are high-dimensionality, unknown correlation structure and noise.
The biotechnological background for some of these technologies will be introduced as well as the
basics of genetics needed to understand the examples.
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By the end of the course students should be able to support biologists with the design and the
analysis of the data generated by genomics experiments
This module will provide an overview of functional and structural brain imaging, and the statistical
tools used to model this data. It will cover the multiple testing problem, and different measures of
false positive risk on images, as well as Random Field Theory and how it adapts to spatial
correlation.
Positron Emission Tomography (PET) and Functional Magnetic Resonance Imaging (fMRI) are
used to literally view the brain 'in action', measuring changes in blood flow that identify which brain
regions are used to, for example, remember words, perceive pain or process emotions. These
technologies produce massive datasets, however, presenting a challenge for traditional statistical
methods. For example, the simplest possible result of a study is 3-dimensional t statistic image with
as many as 100,000 voxels (volume elements), each measuring the strength of evidence for a
change in activity at that brain region.
Basic introduction to neuroscience and brain imaging methods, differences between PET &
fMRI
Preprocessing of brain image data, including motion correction and inter-subject brain
warping
Time series regression modelling of fMRI data
Mixed effect models of multi-subject data
Multiple Testing Problem, and ways of measuring false positive risk, including the
Familywise Error Rate (FWE) and the False Discovery Rate (FDR)
Random Field Theory, a Gaussian Process model for smooth data, which provides key
results for finding FWE- and FDR-controlling procedures
"Brain Reading", or the use of classification methods with fMRI, using linear discriminant
and support vector machine methods
By the end of the course students should be able to support neuroscientists with the design and the
analysis of the data generated by neuroimaging experiments
Important: This module is only available to final year (4) integrated Masters students.
Aims: This module will cover several topics chosen from modern applied probability. The topics
will be selected to demonstrate how probability theory can be used to study various phenomena in
the real world. Examples might include random graphs, spatial point processes, branching
processes, interacting particle systems, random polymers etc. The topics might vary from year to
year.
Commitment: 3 lectures/week
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Content: During the academic year 2010-2011 the focus of the module will be on the applications
of Markov processes and random walks to various fields such as statistical mechanics, computer
science and mathematical biology. The students will have the opportunity to witness the beauty and
power of the probabilistic techniques when these are applied to give surprising answers and insight
to problems of other scientific fields.
We will first make a quick review of the basic notions of Markov Chains, before proceeding to
develop some more sophisticated tools around this theme. In the first part of the course, the
question ``how much time does it take for a Markov Process to approach equilibrium'' will be of
central interest. This is of particular importance in Markov Chain Monte Carlo simulations, and we
will also cover several applications to statistical mechanics (Ising model etc.), computer science
(colourings of graphs, counting), card and gene shuffling.
To complete the course, we study random walks using ideas from electrical networks. The
advantage of this approach is its robustness, as it allows questions such as ``how long will it take for
a random walk to visit a particular vertex, or indeed all the vertices?'' to be answered using very
limited knowledge of the underlying graph. Such results are of interest in the design of randomised
search algorithms, amongst other areas.
Important: This module is only available to final year (4) integrated Masters students.
Summary:
Most financial data is available in time series form and therefore the statistics and modelling of time
series data are essential components underpinning mathematical finance. The module aims to
provide the relevant statistical theory and experience in financial time series statistics. One-third of
the course covers exploratory and descriptive techniques for various features, such as long term
level, fluctuation, distribution, linear and non-linear dependence, short and long memory
dependence, directionality and volatility. Both linear and non-linear models are equally developed.
Linear autoregressive moving average and nonlinear locally non-constant variance models are
covered, as applicable to volatile financial returns, interest, exchange rates and futures. Ways of
fitting these models to time series data, methods of their statistical validation and their use in such
financial areas as forecasting, systematic trading models, fund manager evaluation, hedging, option
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evaluation and simulation are covered. The course aims to give practical experience in the use of
specialized time series software for class examples and projects. .
Aims:
The Module aims to provide the student with background and skills
(a) to be able to model and analyse financial time series data, and to extend and develop
methodology as required
(b) to understand and be able to critically evaluate times series developments and research
results in the finance area
Learning Outcomes:
By the end of the module the student should have:
a good theoretical understanding of the standard techniques of time series analysis as applied in
the finance area
an ability to carry out exploratory and descriptive analysis of time series data, particularly with
reference to financial applications
mathematical ability in deriving the statistical properties of linear and nonlinear time series
models
a general appreciation of nonlinearity in time series modelling, and in particular with respect to
modelling volatile financial series
an ability to undertake modelling studies of time series involving forecasting and simulation,
with appropriate software, and covering model choice, fitting and validation
Content:
Examples, exploration and description of time series data: long term and local level, fluctuation,
distribution, short and long term memory dependence, directionality and volatility. Use of statistical
time series software. Linear modelling of time series: meaning of linearity, autoregressive and
moving average models and their statistical properties, likelihood estimation and residual analysis,
forecasting and simulation. Illustrative financial applications. Nonlinear modelling of financial time
series: meaning of non-linearity, various non-constant conditional variance models for volatility, their
statistical properties, their use in financial time series data analysis and systematic trading models,
and example applications in finance. Presentation by practitioner from the finance industry showing
use of time series methodology.
Organisation:
There will be one 2-hour lecture and one 1-hour seminar or problem class per week.
Texts:
Franke J, Hardle W and Hafner C, (2004) Statistics of Financial Markets, Springer
Cizek P, Hardle W and Weron R, (2005) Statistics for Finance and Insurance, Springer
Tsay RS, (2005) Analysis of Financial Time Series, (Second Edition), Wiley.
T L Lai & H Xing, (2008) Statistical Models and Methods for Financial Markets
Brockwell PJ and Davis RA, (2002) Introduction to Time Series and Forecasting, (Second
Edition), Springer
Assessment:
Financial Time Series is examined by a single 90-minute paper at the beginning of Term 3.
There is also assessed coursework in the form of three mini-projects which is weighted at 20%.
Only the marks for projects 2 & 3 are assessed.
Content:
Mathematical Foundations
2. Continuous Local Martingales, properties of the stochastic integral with respect to continuous
local martingales. Continuous semimartingales as integrators, integration by parts and
multidimensional Itos formula for continuous semimartingales, Levys Theorem.
3. Implied volatility, market implied distributions. Stochastic volatility and incomplete markets.
Multicurrency Economy.
2. Review of main types of term structure models including Pure discount Bond, Heath-Jarrow-
Morton, Flesaker-Hughston.
3. Market Models (Brace, Gaterek and Musiela approach), specification in terminal and spot
measure.
4. Pricing callable interest rate derivatives with market models, drift approximation and
separability, implementation via Longstaff-Schartz Greeks via Monte Carlo for market
models, pathwise method, likelihood ratio method.
5. Markov-functional models
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6. Practical issues in choice of model for various exotics, Bermudan swaptions, TARNS
7. Calibration: global versus local
Lecturer: Jo Kennedy
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