Overview

The details

Course: Computational Finance

Start date: January 2025

Study mode: Full-time

Duration: 3 - 4 years

Location: Colchester Campus

Based in: Computer Science and Electronic Engineering (School of)

We offer research supervision for our PhD Computational Finance in the following fields: agent-based modelling of financial markets; computational risk management; high-frequency finance; and the use of computational-intelligence methods for investment decision making. We provide a vibrant research environment so our PhD students publish papers in prestigious international conferences and often attract the attention of industry and government; one of our PhD students was recently invited to present their research on term structure models to the Bank of England and many others get the opportunity to directly apply their research through internships at investment banks and hedge funds.

Our graduates have gone on to become quantitative analysts, portfolio managers and software engineers at various institutions, including major investment banks like HSBC and Mitsubishi UFJ Securities.

You can start this degree in October, January or April, either full-time or part-time. We also offer an MPhil and MSD in this area.

Why we're great.

We have an international reputation for leading-edge, interdisciplinary work combining economic and financial modelling with computational implementation.
Our research is geared towards practical applications, and many of our academic staff have experience of applying their findings in industry and in advising the UK government.
We are supported by Essex's highly rated Department of Economics, School of Computer Science and Electronic Engineering, and Essex Business School.

Our expert staff

Within our Centre for Computational Finance and Economic Agents (CCFEA), our PhD students are normally jointly supervised by academic staff in two of our constituent departments, in order to give you an interdisciplinary perspective to your topic of research.

Specialist facilities

CCFEA is based within our School of Computer Science and Electronic Engineering.

Our School provides twelve laboratories exclusively for computer science and electronic engineering students. Three of our software labs are open for 24 hours a day including weekends and you have free access to the labs except when there is a scheduled practical class in progress. Our labs are managed by an experienced and dedicated team of technical support staff who can assist you - for example, advising on how to overcome programming problems. Students also have access to our Bloomberg virtual trading floor in the Essex Business School.

Your future

Graduates of our Centre have gone on to become quantitative analysts, portfolio managers and software engineers at various institutions, including major investment banks like HSBC and Mitsubishi UFJ Securities.

We have an extensive network of industrial contacts through our City Associates Board and our alumni, while our expert seminar series gives you the opportunity to work with leading figures from industry. A number of our students have held internships with prestigious City institutions, such as HSBC, Old Mutual and the Bank of England.

Entry requirements

UK entry requirements

You will need a good Masters degree, or equivalent, in a related subject.

A well-developed research proposal is also essential. You must be experienced in at least one high-level programming language (such as Matlab, Java or Python).

You will normally be required to attend an interview/Skype interview for acceptance, and acceptance is subject to research expertise in the department.

International & EU entry requirements

We accept a wide range of qualifications from applicants studying in the EU and other countries. Get in touch with any questions you may have about the qualifications we accept. Remember to tell us about the qualifications you have already completed or are currently taking.

Sorry, the entry requirements for the country that you have selected are not available here. Please contact our Graduate Admissions team at pgquery@essex.ac.uk to request the entry requirements for this country.

English language requirements

If English is not your first language, then we will require you to have IELTS 6.0 with a minimum of 5.5 in each component

Structure

Course structure

A research degree doesn't have a taught structure, giving you the chance to investigate your chosen topic in real depth and reach a profound understanding. In communicating that understanding, through a thesis or other means, you have a rare opportunity to generate knowledge. A research degree allows you to develop new high-level skills, enhance your professional development and build new networks. It can open doors to many careers.

We understand that deciding where and what to study is a very important decision for you. We'll make all reasonable efforts to provide you with the courses, services and facilities as described on our website and in line with your contract with us. However, if we need to make material changes, for example due to significant disruption, we'll let our applicants and students know as soon as possible.

Components and modules explained

Components

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose.

Each component has a status and carries a certain number of credits towards your qualification.

Status	What this means
Core	You must take the set module for this component and you must pass. No failure can be permitted.
Core with Options	You can choose which module to study from the available options for this component but you must pass. No failure can be permitted.
Compulsory	You must take the set module for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Compulsory with Options	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Optional	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

Modules

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits.

In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available.

Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code. For example, the module code HR100-4-FY means:

100

The department or school the module will be taught by.

In this example, the module would be taught by the Department of History.

The module number.

The UK academic level of the module.

A standard undergraduate course will comprise of level 4, 5 and 6 modules - increasing as you progress through the course.

A standard postgraduate taught course will comprise of level 7 modules.

A postgraduate research degree is a level 8 qualification.

The term the module will be taught in.

AU: Autumn term
SP: Spring term
SU: Summer term
FY: Full year
AP: Autumn and Spring terms
PS: Spring and Summer terms
AS: Autumn and Summer terms

COMPONENT 01: COMPULSORY

Computational Finance and Economic Agents - Research

(0 CREDITS)

This module is for PhD students who are completing the research portions of their theses.

View Computational Finance and Economic Agents - Research on our Module Directory

COMPONENT 01: COMPULSORY

Computational Finance and Economic Agents - Research

(0 CREDITS)

This module is for PhD students who are completing the research portions of their theses.

View Computational Finance and Economic Agents - Research on our Module Directory

Assessment

The aim of undertaking your PhD within CCFEA is to become trained as am independent researcher who can critically assess other research work, and have a comprehensive knowledge of their subject area.

Our PhD programme is usually three to four years duration and all our students are initially registered as Mphil/PhD students, then transferred to the PhD in the first half of their second year of study if they have made satisfactory progress. In your second and third years, you work towards your PhD.

Dissertation

Within CCFEA, your PhD thesis is generally completed within three to four years and has a length of around 80,000 words.

Your PhD is awarded after your successful defence of your thesis in an oral examination, in which you are interviewed about your research by two examiners, at least one of whom is from outside Essex.

Fees and funding

Home/UK fee

£4,786 per year

International fee

£18,750 per year

Fees will increase for each academic year of study.

Masters fees and funding information

Research (e.g. PhD) fees and funding information

What's next

We hold Open Days for all our applicants throughout the year. Our Colchester Campus events are a great way to find out more about studying at Essex, and give you the chance to:

tour our campus and accommodation
find out answers to your questions about our courses, graduate employability, student support and more
talk to our Fees and Funding team about scholarship opportunities
meet our students and staff

If the dates of our organised events aren’t suitable for you, feel free to get in touch by emailing tours@essex.ac.uk and we’ll arrange an individual campus tour for you.

You can apply for this postgraduate course online. Before you apply, please check our information about necessary documents that we'll ask you to provide as part of your application.

We encourage you to make a preliminary enquiry directly to a potential supervisor or the Graduate Administrator within your chosen Department or School. We encourage the consideration of a brief research proposal prior to the submission of a full application.

We aim to respond to applications within four weeks. If we are able to offer you a place, you will be contacted via email.

For information on our deadline to apply for this course, please see our ‘how to apply' information.

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The University makes every effort to ensure that this information on its programme specification is accurate and up-to-date. Exceptionally it can be necessary to make changes, for example to courses, facilities or fees. Examples of such reasons might include, but are not limited to: strikes, other industrial action, staff illness, severe weather, fire, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack (whether declared or not), natural disaster, restrictions imposed by government or public authorities, epidemic or pandemic disease, failure of public utilities or transport systems or the withdrawal/reduction of funding. Changes to courses may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will also keep students informed appropriately by updating our programme specifications. The University would inform and engage with you if your course was to be discontinued, and would provide you with options, where appropriate, in line with our Compensation and Refund Policy.

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