Master of Commerce in Quantitative Finance

Purpose

The purpose of this qualification is for the learners to develop applied competence in the interpretation, reflection and application of principles in the broader field of quantitative finance. Through the master's dissertation, a qualifying learner shows evidence of scientific research, application of scientific research methodologies and an ability to reflect thereon in the holistic context of quantitative finance.

Rationale

The rationale for this qualification is to broaden the current academic offering of the institution's Department of Finance and Investment Management. This Department will offer this qualification to learners from the Bachelor of Commerce (BCom) Honours in Quantitative Finance degree as well as other quantitative finance (including mathematical finance) honours degrees from other institutions. Learners from other academic institutions who meet the minimum admission requirements will be considered for the qualification. The qualification will provide education and training to researchers so that they can contribute to the development of knowledge at an advanced level.

Recognition of Prior Learning (RPL)

The Faculty accepts Recognition of Prior Learning (RPL) as an integral part of education and academic practice. It is acknowledged that all learning has value and the Faculty will assess prior learning and award credit that is aligned to the qualification to promote lifelong learning. An example of prior learning refers to work experience relevant to the quantitative finance field, such as experience on systems used in the quantitative finance industry.

The purpose of the institution's RPL policy, which directs the Faculty's RPL procedure, is to recognise prior learning in order to provide for access into programmes, grant advanced placement in programmes and grant credits for modules on the principles and processes that serve as basis for faculty-specific RPL practices.

Entry Requirements

Admission requirements for this qualification include the following

• Bachelor of Commerce Honours (Quantitative Finance), at NQF Level 8.

Or

• Any other qualification at NQF Level 8 in the cognate field of quantitative finance.

Or

• Quantitative finance experience which is deemed applicable by the Institution's Department of Finance and Investment Management.

This qualification consists of compulsory modules at NQF Level 9, totalling 180 Credits.

• Dissertation: Quantitative Finance, 90 Credits.
• Dissertation: Quantitative Finance, 90 Credits.

1. Examine multiple options of applying and integrating quantitative finance knowledge to solve theoretical, applied or real life quantitative finance problems.
2. Present an understanding of key aspects and implications of specified systems, situations, specified bodies of content and the effect in the field of quantitative finance.
3. Show an understanding in the field of quantitative finance in order to analyse available data, formulate and construct a dissertation.
4. Show an engagement with own learning, learning strategies, and how new knowledge can be acquired in the field of quantitative finance.
5. Discuss and reflect on the importance of scientific paradigms and methods in understanding scientific concepts and their changing nature

Associated Assessment Criteria for Exit Level Outcome 1

• Quantitative finance problems are thoroughly identified and analysed.
• Problems are evaluated and insightful solutions provided.
• Problems are identified and solved.

Associated Assessment Criteria for Exit Level Outcome 2

• Advanced understanding of the subject matter relevant to the quantitative finance market industry is demonstrated.
• An accurate understanding of the subject matter is shown with regard to the knowledge and understanding of all content in the quantitative finance market industry.

Associated Assessment Criteria for Exit Level Outcome 3

• Information on quantitative finance is collected, analysed and evaluated.
• A scientific dissertation in the field of quantitative finance is constructed and written.
• A research problem is defined and a research objective is derived in the field of quantitative finance.
• A proposal is presented and defended at a departmental meeting.
• An academic article based on the research conducted is successfully written.

Associated Assessment Criteria for Exit Level Outcome 4

• Critical thought process and leadership skills and initiative are demonstrated.
• Appropriate course of action to ensure minimal loss or damage in the quantitative market industry is concluded on.
• The ability to reflect with self and others and also on own and other peoples thoughts and actions is demonstrated.

Associated Assessment Criteria for Exit Level Outcome 5

• Science and technology is used in quantitative finance.
• Scientific paradigms and methods in understanding scientific concepts are considered to stay on course with the changing nature of the environment.

Integrated Assessment

Learners will receive feedback on their progress from their supervisor. The following methods will be used for providing feedback: written, one-on-one meeting, and verbally. Constructive feedback which takes the purpose of the assessment into account will be provided. Learners will also be guided on how to avoid making similar mistakes and how to improve their performance.