Study at Cardiff | Postgraduate

Operational Research, Applied Statistics and Risk (MSc)

Course Aims

Our innovative MSc programme will equip you with the necessary analytical skills, methods and ways of thinking to tackle and analyse complex organisational problems, help make better decisions, and to become confident statistical analysts. This is ideal training and experience for those looking for career opportunities in areas such as Operational Research, Management Science, Statistics, Risk Analysis, Financial Modelling, Actuarial Risk and Credit Scoring, Management Consultancy, Business Analytics, Supply Chain Management, Government OR/Statistics etc.

Special Features

• A unique MSc degree combination in the UK.
• Ideal for those who wish to study in greater depth risk models, particularly for application to financial markets but also to other sectors.
• Delivered by experts in the fields of Operational Research and Statistics.
• Skills are highly transferable for use within industry, business and the public sector.
• Close collaboration with a number of organisations who employ Operational Researchers, Statisticians and Financial/Risk Modellers.

Course Description

You will study a variety of problem-solving techniques, allowing you to build and use mathematical and statistical models, alongside skills to develop your abilities to communicate effectively to others. The programme will prepare you with essential techniques in Operational Research and Applied Statistics, and allow you to then select from a number of interesting and varied optional courses in topics such as supply chain modelling, healthcare, and Statistics and Operational Research for Government (delivered with input from the Office for National Statistics and Welsh Assembly Government). As well as studying the foundations in Operational Research and Applied Statistics, you will study further topics in actuarial risk, financial modelling and credit risk scoring, and is ideal for those who wish to study in greater depth risk models, particularly for application to financial markets but also to other sectors.

Critical to our programmes is the opportunity for you to put the theory into practice, through case studies and project work in the ‘real-world’. An important feature of the MSc is the project dissertation, allowing you to work with an external company. Studying our MSc programmes offers the possibility of exciting and rewarding career opportunities and progression.

Course Structure

We have designed and structured the programmes with both full and part-time students in mind. By adopting an efficient modular approach to teaching, part-time students will typically only need to be in the University for lectures and workshops for the equivalent of one day per week over 24 weeks each year, and complete the taught component of the programme over two years with up to a further year to complete the project dissertation. Full-time students will complete the programme in 12 months, which includes a 3 month period working with a company on a real problem of importance to that company.

Available Modules

• OR Methods
• Statistical Methods
• Communication and Research Skills
• Computational Methods
• Time Series and Forecasting
• Supply Chain Modelling
• Statistics and OR for Government
• Advanced Use of Statistical Packages
• Healthcare Modelling
• Business and Risk Strategy
• Financial Maths and Actuarial Risk
• Credit Risk Scoring

Career Prospects

Cardiff School of Mathematics has well established and strong links with many employers of Operational Researchers and Applied Statisticians, who regularly offer projects and/or recruit our students.

Student Testimonial

I have found my time on the MSc in Operational Research and Applied Statistics course thoroughly rewarding. The breadth of material covered is impressive, as is the exposure to different software packages and the opportunities to improve transferable skills. The programme enables you to develop problem solving skills and apply these to a range of applications. I particularly enjoyed the dissertation project, working with an external company. The support you receive throughout the degree is second to none. Many employers came to speak to us over the academic year, and I have successfully obtained employment as a Research Officer at the Office for National Statistics (ONS).

Eleanor Evans (full-time student)

Funding

The School has a number of scholarships on offer for full-time UK/EU students which will pay the entire fees and in some cases additional support towards living costs. These are highly competitive so we suggest you apply early.

Entry Requirements

Applications are welcome from people with:

• A first degree (minimum second class honours) from a recognised university in a numerate subject such as Mathematics, Operational Research, Statistics, Management Science, Economics, Engineering, Computer Science, Geography or a suitable Science degree.  
• A good level of English language, both written and oral (applicants whose first language is not English will normally require an IELTS score of 6.5 or TOEFL 600).
• Willingness to engage with staff and students for mutual benefits.
• Motivation to establish or accelerate a career in Operational Research and Statistics.

Note: International students pursuing part-time programmes of study are not eligible for Tier 4 (General Student) visas and must have alternative leave to remain in the UK if they intend to study at the University in person.

Next intake: September 2013

More information

• Learn more about Cardiff School of Mathematics
  
• How to apply
• New Search