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Undergraduate Courses 2017

Mathematics and Accounting and Finance - BA (Hons)



The study of mathematics provides an excellent basis for the applied techniques of accountancy and finance.  In this three-year joint honours programme you split your studies equally between the two related disciplines and gain the knowledge that responds to the needs and expectations of the modern accountancy profession.

The degree provides various exemptions from the examinations of the professional accountancy bodies.

Course structure

The following modules are indicative of those offered on this programme. This listing is based on the current curriculum and may change year to year in response to new curriculum developments and innovation.  Most programmes will require you to study a combination of compulsory and optional modules. You may also have the option to take ‘wild’ modules from other programmes offered by the University in order that you may customise your programme and explore other subject areas of interest to you or that may further enhance your employability.

Stage 1

Possible modules may include:

EC313 - Microeconomics for Business (15 credits)

This module is designed for students who have not studied Microeconomics for Business before or who have not previously completed a comprehensive introductory course in economics. However, the content is such that it is also appropriate for students with A-level Economics or equivalent, as it focuses on the analysis, tools and knowledge of microeconomics for business. The module applies economics to business issues and each topic is introduced assuming no previous knowledge of the subject. The lectures and related seminar programme explain the economic principles underlying the analysis of each topic and relate the theory to the real world and business examples. In particular, many examples show how economic analysis and models can be used to understand the different parts of business and how policy has been used to intervene in the working of the economy. Module workshops apply economic analysis and techniques to business situations. The module is carefully designed to tell you what topics are covered under each major subject area, to give readings for these subjects, and to provide a list of different types of questions to test and extend your understanding of the material.

Credits: 15 credits (7.5 ECTS credits).

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AC300 - Financial Accounting I (30 credits)

A synopsis of the curriculum

• Role and evolution of accounting; single entry accounting

• double entry bookkeeping

• financial reporting conventions

• recording transactions and adjusting entries

• principal financial statements

• institutional requirements

• auditing; monetary items

• purchases and sales

• bad and doubtful debts

• inventory valuation

• non-current assets and depreciation methods

• liabilities

• sole traders and clubs; partnerships; companies

• capital structures

• cash flow statements

• interpretation of accounts through ratio analysis

• problems of, and alternatives to, historical cost accounting

Credits: 30 credits (15 ECTS credits).

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MA306 - Statistics (15 credits)

Increasingly data are collected to inform future decisions, varying from which websites people access on a regular basis to how patients respond to new drugs, to how the stock market responds to global events, or to how animals move around their local habitat. Therefore, most professionals will need to extract useful information from data and to manage and present data in their working lives.  This module explores some of the basic concepts of statistics, from data summarisation to the main methods of statistical inference. The techniques that are discussed can be used in their own right for simple statistical analyses, but serve as an important foundation for later, more advanced, modules. The statistical computing package R is used throughout the module for data analysis. The syllabus includes: an introduction to R and investigating data sets, sampling and sampling distributions, point and interval estimation, hypothesis testing, association between variables.

Credits: 15 credits (7.5 ECTS credits).

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MA347 - Linear Mathematics (15 credits)

This module serves as an introduction to algebraic methods and linear algebra methods. These are central in modern mathematics, having found applications in many other sciences and also in our everyday life.

Topics covered will include:

Basic set theory: introduction to sets, operations on sets (union, intersection, Cartesian product, complement), basic counting (inclusion-exclusion for 2 sets).

Functions and Relations: injective, surjective, bijective functions. Permutations, sign of a permutation. The Pigeonhole Principle. Cardinality of sets. Binomial coefficients, Binomial Theorem. Equivalence relations and partitions.

Systems of linear equations and Gaussian elimination: operations on systems of equations, echelon form, rank, consistency, homogeneous and non-homogeneous systems.

Matrices: operations, invertible matrices, trace, transpose.

Determinants: definition, properties and criterion for a matrix to be invertible.

Vector spaces: linearly independent and spanning sets, bases, dimension, subspaces.

Linear Transformations: Definition. Matrix of a Linear Transformation. Change of Basis.

Diagonalisation: Eigenvalues and Eigenvectors, invariant spaces, sufficient conditions.

Bilinear forms: inner products, norms, Cauchy-Schwarz inequality.

Orthonormal systems: the Gram-Schmidt process.

Credits: 15 credits (7.5 ECTS credits).

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MA348 - Mathematical Methods 1 (15 credits)

This module introduces widely-used mathematical methods for functions of a single variable. The emphasis is on the practical use of these methods; key theorems are stated but not proved at this stage. Tutorials and Maple worksheets will be used to support taught material.

Complex numbers: Complex arithmetic, the complex conjugate, the Argand diagram, de Moivre's Theorem, modulus-argument form; elementary functions

Polynomials: Fundamental Theorem of Algebra (statement only), roots, factorization, rational functions, partial fractions

Single variable calculus: Differentiation, including product and chain rules; Fundamental Theorem of Calculus (statement only), elementary integrals, change of variables, integration by parts, differentiation of integrals with variable limits

Scalar ordinary differential equations (ODEs): definition; methods for first-order ODEs; principle of superposition for linear ODEs; particular integrals; second-order linear ODEs with constant coefficients; initial-value problems

Curve sketching: graphs of elementary functions, maxima, minima and points of inflection, asymptotes

Credits: 15 credits (7.5 ECTS credits).

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MA349 - Mathematical Methods 2 (15 credits)

This module introduces widely-used mathematical methods for vectors and functions of two or more variables. The emphasis is on the practical use of these methods; key theorems are stated but not proved at this stage. Tutorials and Maple worksheets will be used to support taught material.

Vectors: Cartesian coordinates; vector algebra; scalar, vector and triple products (and geometric interpretation); straight lines and planes expressed as vector equations; parametrized curves; differentiation of vector-valued functions of a scalar variable; tangent vectors; vector fields (with everyday examples)

Partial differentiation: Functions of two variables; partial differentiation (including the chain rule and change of variables); maxima, minima and saddle points; Lagrange multipliers

Integration in two dimensions: Double integrals in Cartesian coordinates; plane polar coordinates; change of variables for double integrals; line integrals; Green's theorem (statement – justification on rectangular domains only)

Credits: 15 credits (7.5 ECTS credits).

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MA351 - Probability (15 credits)

Introduction to Probability. Concepts of events and sample space. Set theoretic description of probability, axioms of probability, interpretations of probability (objective and subjective probability).

Theory for unstructured sample spaces. Addition law for mutually exclusive events. Conditional probability. Independence. Law of total probability. Bayes' theorem. Permutations and combinations. Inclusion-Exclusion formula.

Discrete random variables. Concept of random variable (r.v.) and their distribution. Discrete r.v.: Probability function (p.f.). (Cumulative) distribution function (c.d.f.). Mean and variance of a discrete r.v. Examples: Binomial, Poisson, Geometric.

Continuous random variables. Probability density function; mean and variance; exponential, uniform and normal distributions; normal approximations: standardisation of the normal and use of tables. Transformation of a single r.v.

Joint distributions. Discrete r.v.'s; independent random variables; expectation and its application.

Generating functions. Idea of generating functions. Probability generating functions (pgfs) and moment generating functions (mgfs). Finding moments from pgfs and mgfs. Sums of independent random variables.

Laws of Large Numbers. Weak law of large numbers. Central Limit Theorem.

Credits: 15 credits (7.5 ECTS credits).

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Stage 2

Possible modules may include:

AC523 - Principles of Finance (30 credits)

This module is concerned with the principles which underlie the investment and financing decision making process. Before a rational decision can be made objectives need to be considered and models need to be built. Short-term decisions are dealt with first, together with relevant costs. One such cost is the time value of money. This leads to long term investment decisions which are examined using the economic theory of choice, first assuming perfect capital markets and certainty. These assumptions are then relaxed so that such problems as incorporating capital rationing and risk into the investment decision are fully considered. The module proceeds by looking at the financing decision. The financial system within which business organisations operate is examined, followed by the specific sources and costs of long and short-term capital, including the management of fixed and working capital

Credits: 30 credits (15 ECTS credits).

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EC566 - Macroeconomics for Business (15 credits)

The aim of the module is to develop your understanding of the principles of macroeconomics as they relate to business. We examine how these principles can help you to understand the current macroeconomic policy debate and how they are applied to common macroeconomic situations you will meet in business.

Module topics include: the circular flow of the macroeconomy; inflation and unemployment definitions and causes; aggregate supply, aggregate demand and fiscal policy; money, the financial system, interest rates and monetary policy; international trade, the balance of payments and exchange rates.

Credits: 15 credits (7.5 ECTS credits).

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MA552 - Analysis (15 credits)

This module will consider many concepts you know from Calculus and put them on a more rigorous basis. The concept of a limit is basic to Calculus and, unless this concept is defined precisely, uncertainties and paradoxes will creep into the subject. Based on the foundation of the real number system, this module develops the theory of convergence of sequences and series and the study of continuity and differentiability of functions. The notion of Riemann integration is also explored. The syllabus includes the following: Sequences and their convergence. The convergence of bounded increasing sequences. Series and their convergence: the comparison test, the ratio test, absolute and conditional convergence, the alternating series test. Continuous functions: the boundedness theorem, the Intermediate Value Theorem. Differentiable functions: The Mean Value Theorem with applications, power series, Taylor expansions. Construction and properties of the Riemann integral.

Credits: 15 credits (7.5 ECTS credits).

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MA553 - Linear Algebra (15 credits)

Systems of linear equations appear in numerous applications of mathematics. Studying solution sets to such systems leads to the abstract notions of a vector space and a linear transformation. Matrices can be used to represent linear transformations and to do concrete calculations. This module is about the properties of vector spaces, linear transformations and matrices. The syllabus includes: vector spaces, linearly independent and spanning sets, bases, dimension, subspaces, linear transformations, the matrix of a linear transformation, similar matrices, the determinant, diagonalisation, bilinear forms, norms, and the Gram-Schmidt process.

Credits: 15 credits (7.5 ECTS credits).

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CB668 - Linear Programming and its Application (15 credits)

The broad areas will be as defined as shown below:

Modelling LP applications (management, finance, business, marketing)

The use of graphical method for small problems and the development Simplex Method (optimality and feasibility criteria) including the two-phase method.

The use of a computer software such as Excel to solve LP instances and discussion of results (through a couple of Labs).

Degeneracy issues in LP (brief)

Duality theory (dual problems, duality theorem, and complementary slackness conditions), and application of duality to other problems (brief)

Dual Simplex Method

Sensitivity analysis and brief pot-optimality analysis

Extension of LP to Integer Programming or Ratio Programming (DEA)

Credits: 15 credits (7.5 ECTS credits).

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MA588 - Mathematical Techniques and Differential Equations (15 credits)

We will study ordinary differential equations analytically, going beyond the exact techniques studied in MA321. We will also learn how to solve partial differential equations and apply the techniques to phenomena such as the vibration of a guitar string or a drum skin. Outline syllabus includes: Series Solutions of Linear Ordinary Differential Equations, Orthogonal polynomials and Special functions, Fourier Series and Transforms and Partial Differential Equations.

Credits: 15 credits (7.5 ECTS credits).

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MA590 - Mathematical Modelling (15 credits)

This module introduces mathematical modelling in a variety of contexts including using Newton's laws of motion, Newton’s law of gravitation, population models, exponential growth, density dependent growth, and predator-prey models. Outline syllabus may include topics from (i) deriving differential equations from data; dimensional analysis; (ii) discrete models and difference equations: steady states and their stability; (iii) continuous models and ordinary differential equations: steady states and their stability; the slope fields and phase lines; (iv) applications of Linear Algebra (in lower dimensions): systems of linear ordinary differential equations; linear phase plane analysis and stability; (v) electrical networks; (vi) vector algebra, vector geometry, vector equations, coordinate systems and vector differentiation; (vii) application in mechanics: Newton's laws for a single particle in 3-D; conserved quantities; angular velocity, angular momentum, moment of a force; harmonic motion.

Credits: 15 credits (7.5 ECTS credits).

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MA629 - Probability and Inference (15 credits)

This module is a pre-requisite for many of the other statistics modules at Stages 2, 3 and 4, but it can equally well be studied as a module in its own right, extending the ideas of probability and statistics met at Stage 1 and providing practice with the mathematical skills learned in MA321. It starts by revising the idea of a probability distribution for one or more random variables and looks at different methods to derive the distribution of a function of random variables. These techniques are then used to prove some of the results underpinning the hypothesis test and confidence interval calculations met at Stage 1, such as for the t-test or the F-test. With these tools to hand, the module moves on to look at how to fit models (probability distributions) to sets of data. A standard technique, known as the method of maximum likelihood, is introduced, which is then used to fit the model to the data to obtain point estimates of the model parameters and to construct hypothesis tests and confidence intervals for these parameters. Outline Syllabus includes: Joint, marginal and conditional distributions of discrete and continuous random variables; Generating functions; Transformations of random variables; Sampling distributions; Point and interval estimation; Properties of estimators; Maximum likelihood; Hypothesis testing; Neyman-Pearson lemma; Maximum likelihood ratio test.

Credits: 15 credits (7.5 ECTS credits).

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MA632 - Regression Models (15 credits)

Regression is a fundamental technique of statistical modelling, in which we aim to model a response variable using one or more explanatory variables. For example, we might want to model the yield of a chemical process in terms of the temperature and pressure of the process. The need for statistical modelling arises because even when temperature and pressure are fixed, there will typically be variation in the resulting yield, so the model must include a random component. In this module we study the broad class of linear regression models, which are widely used in practice. We learn how to formulate such models and fit them to data, how to make predictions with associated measures of uncertainty, and how to select appropriate explanatory variables. Both theory and practical aspects are covered, including the use of computer software for regression. Outline of the syllabus: simple linear regression; the method of least squares; sums of squares; the ANOVA table; residuals and diagnostics; matrix formulation of the general linear model; prediction; variable selection; one-way analysis of variance; practical regression analysis using software; logistic regression.

Credits: 15 credits (7.5 ECTS credits).

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MA564 - Functions of Several Variables (15 credits)

Functions of several variables occur in many important applications. In this module we introduce the derivative for functions of several variables and derive an important consequence, namely the chain rule. We use this to calculate maxima and minima and Taylor series for functions of several variables. We also discuss the important problem of finding maxima and minima of functions subject to a constraint using the method of Lagrange multipliers. Furthermore, we define different ways to integrate functions of several variables such as arclength integrals, line integrals, surface integrals and volume integrals. Outline Syllabus includes: Continuity and Differentiation; tangent plane; swapping order of partial derivatives; implicit function theorem; inverse function theorem; paths independence of line integrals; use of polar, cylindrical and spherical polar coordinates; integral theorems such as Green's theorem.

Credits: 15 credits (7.5 ECTS credits).

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MA566 - Number Theory (15 credits)

The security of our phone calls, bank transfers, etc. all rely on one area of Mathematics: Number Theory. This module is an elementary introduction to this wide area and focuses on solving Diophantine equations. In particular, we discuss (without proof) Fermat's Last Theorem, arguably one of the most spectacular mathematical achievements of the twentieth century. Outline syllabus includes: Modular Arithmetic; Prime Numbers; Introduction to Cryptography; Quadratic Residues; Diophantine Equations.

Credits: 15 credits (7.5 ECTS credits).

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MA584 - Computational Mathematics (15 credits)

The aim of the module is to provide an introduction to the methods, tools and ideas of numerical computation. In applications mathematics frequently generates specific instances of standard problems for which there are no easily obtainable analytic solutions. Examples might be the task of determining the value of a particular integral, or of finding the roots of a certain non- linear equation. Methods are presented for solving such problems on a modern computer. Besides a description of the basic numerical procedure, each method is analysed in terms of when it best works, how it compares with alternative approaches, and the way it may be implemented on a computer. Numerical computations are almost invariably contaminated by errors, and an important concern throughout the module is to understand the source, propagation and magnitude of these errors.The syllabus will cover: Introduction to numerics; solutions of equations in one variable; interpolation and polynomial approximation; numerical differentiation; numerical integration; direct methods for solving linear systems; iterative techniques for solving linear systems.

Credits: 15 credits (7.5 ECTS credits).

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Year in industry

Students on this course can choose to spend a year working in industry between Stages 2 and 3. We can offer help and advice in finding a placement. This greatly enhances your CV and gives you the opportunity to put your academic skills into practice. It also gives you an idea of your career options. Recent placements have included IBM, management consultancies, government departments, actuarial firms and banks.

Stage 3

Possible modules may include:

AC524 - Financial Accounting II (30 credits)

The module will aim to cover the following topics:

• the conceptual framework of financial reporting

• the financial reporting environment

• the regulation of financial reporting

• group accounting

• the International Accounting Standards Board

• content and application of International Accounting Standards as appropriate

• accounting standards

• accounting for transactions in financial statements

Credits: 30 credits (15 ECTS credits).

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MA549 - Discrete Mathematics (15 credits)

Recently some quite novel applications have been found for "Discrete Mathematics", as opposed to the “Continuous Mathematics” based on the Differential and Integral Calculus. Thus methods for the encoding of information in order to safeguard against eavesdropping or distortion by noise, for example in online banking and digital television, have involved using some basic results from abstract algebra. This module will provide a self-contained introduction to this general area and will cover most of the following topics: (a) Modular arithmetic, polynomials and finite fields: Applications to orthogonal Latin squares, cryptography, “coin-tossing over a telephone”, linear feedback shift registers and m-sequences. (b) Error correcting codes: Binary block, linear and cyclic codes including repetition, parity-check, Hamming, simplex, Reed-Muller, BCH, Golay codes; channel capacity; Maximum likelihood, nearest neighbour, syndrome and algebraic decoding.

Credits: 15 credits (7.5 ECTS credits).

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CB600 - Games and Networks (15 credits)

The module is divided into three main topics, namely Combinatorial Optimisation, Dynamic Programming and Game Theory. A more detailed listing of content is given below.

Combinatorial Optimisation:

The Shortest Path Problem

The Minimal Spanning Tree Problem

Flows in Networks

Scheduling Theory

Computational Complexity

Theory of Games:

Matrix Games – Pure Strategies

Matrix Games – Mixed Strategies

Bimatrix Games

N-person Games

Multi-criteria Decision Theory

Credits: 15 credits (7.5 ECTS credits).

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MA587 - Numerical Solution of Differential Equations (15 credits)

Most differential equations which arise from physical systems cannot be solved explicitly in closed form, and thus numerical solutions are an invaluable way to obtain information about the underlying physical system. The first half of the module is concerned with ordinary differential equations. Several different numerical methods are introduced and error growth is studied. Both initial value and boundary value problems are investigated. The second half of the module deals with the numerical solution of partial differential equations. The syllabus includes: initial value problems for ordinary differential equations; Taylor methods; Runge-Kutta methods; multistep methods; error bounds and stability; boundary value problems for ordinary differential equations; finite difference schemes; difference schemes for partial differential equations; iterative methods; stability analysis.

Credits: 15 credits (7.5 ECTS credits).

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MA568 - Orthogonal Polynomials and Special Functions (15 credits)

This module provides an introduction to the study of orthogonal polynomials and special functions. They are essentially useful mathematical functions with remarkable properties and applications in mathematical physics and other branches of mathematics. Closely related to many branches of analysis, orthogonal polynomials and special functions are related to important problems in approximation theory of functions, the theory of differential, difference and integral equations, whilst having important applications to recent problems in quantum mechanics, mathematical statistics, combinatorics and number theory. The emphasis will be on developing an understanding of the structural, analytical and geometrical properties of orthogonal polynomials and special functions. The module will utilise physical, combinatorial and number theory problems to illustrate the theory and give an insight into a plank of applications, whilst including some recent developments in this field. The development will bring aspects of mathematics as well as computation through the use of MAPLE. The topics covered will include: The hypergeometric functions, the parabolic cylinder functions, the confluent hypergeometric functions (Kummer and Whittaker) explored from their series expansions, analytical and geometrical properties, functional and differential equations; sequences of orthogonal polynomials and their weight functions; study of the classical polynomials and their applications as well as other hypergeometric type polynomials.

Credits: 15 credits (7.5 ECTS credits).

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MA572 - Complex Analysis (15 credits)

This module is concerned with complex functions, that is functions which are both defined for and assume complex values. Their theory follows a quite different development from that of real functions, is remarkable in its directness and elegance, and leads to many useful applications.Topics covered will include: Complex numbers. Domains and simple connectivity. Cauchy-Riemann equations. Integration and Cauchy's theorem. Singularities and residues. Applications.

Credits: 15 credits (7.5 ECTS credits).

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MA574 - Polynomials in Several Variables (15 credits)

Systems of polynomial equations arise naturally in many applications of mathematics. This module focuses on methods for solving such systems and understanding the solutions sets. The key abstract concept is an ideal in a commutative ring and the fundamental computational concept is Buchberger's algorithm for computing a Groebner basis for an ideal in a polynomial ring. The syllabus includes: multivariate polynomials, Hilbert's Basis Theorem, monomial orders, division algorithms, Groebner bases, Hilbert's Nullstellensatz, elimination theory, linear equations over systems of polynomials, and syzygies.

Credits: 15 credits (7.5 ECTS credits).

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MA636 - Stochastic Processes (15 credits)

A stochastic process is a process developing in time according to probability rules, for example, models for reserves in insurance companies, queue formation, the behaviour of a population of bacteria, and the persistence (or otherwise) of an unusual surname through successive generations.The syllabus will include coverage of a wide variety of stochastic processes and their applications: Markov chains; processes in continuous-time such as the Poisson process, the birth and death process and queues.

Marks on this module can count towards exemption from the professional examination CT4 of the Institute and Faculty of Actuaries. Please see http://www.kent.ac.uk/casri/Accreditation/index.html for further details.

Credits: 15 credits (7.5 ECTS credits).

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MA639 - Time Series Modelling and Simulation (15 credits)

A time series is a collection of observations made sequentially in time. Examples occur in a variety of fields, ranging from economics to engineering, and methods of analysing time series constitute an important area of statistics. This module focuses initially on various time series models, including some recent developments, and provides modern statistical tools for their analysis. The second part of the module covers extensively simulation methods. These methods are becoming increasingly important tools as simulation models can be easily designed and run on modern PCs. Various practical examples are considered to help students tackle the analysis of real data.The syllabus includes: Difference equations, Stationary Time Series: ARMA process. Nonstationary Processes: ARIMA Model Building and Testing: Estimation, Box Jenkins, Criteria for choosing between models, Diagnostic tests.Forecasting: Box-Jenkins, Prediction bounds. Testing for Trends and Unit Roots: Dickey-Fuller, ADF, Structural change, Trend-stationarity vs difference stationarity. Seasonality and Volatility: ARCH, GARCH, ML estimation. Multiequation Time Series Models: Spectral Analysis. Generation of pseudo – random numbers, simulation methods: inverse transform and acceptance-rejection, design issues and sensitivity analysis.

Marks on this module can count towards exemption from the professional examination CT6 of the Institute and Faculty of Actuaries. Please see http://www.kent.ac.uk/casri/Accreditation/index.html for further details.

Credits: 15 credits (7.5 ECTS credits).

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MA691 - Linear and Nonlinear Waves (15 credits)

Linear PDEs. Dispersion relations. Review of d'Alembert's solutions of the wave equation.

Quasi-linear first-order PDEs. Total differential equations. Integral curves and integrability conditions. The method of characteristics.

Shock waves. Discontinuous solutions. Breaking time. Rankine-Hugoniot jump condition. Shock waves. Rarefaction waves. Applications of shock waves, including traffic flow.

General first-order nonlinear PDEs. Charpit's method, Monge Cone, the complete integral.

Nonlinear PDEs. Burgers' equation; the Cole-Hopf transformation and exact solutions. Travelling wave and scaling solutions of nonlinear PDEs. Applications of travelling wave and scaling solutions to reaction-diffusion equations. Exact solutions of nonlinear PDEs. Applications of nonlinear waves, including to ocean waves (e.g. rogue waves, tsunamis).

Credits: 15 credits (7.5 ECTS credits).

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MA771 - Applied Stochastic Modelling and Data Analysis (15 credits)

This applied statistics module focusses on problems that occur in the fields of ecology, biology, genetics and psychology. Motivated by real examples, you will learn how to define and fit stochastic models to the data. In more complex situations this will mean using optimisation routines in MATLAB to obtain maximum likelihood estimates for the parameters. You will also learn how construct, fit and evaluate such stochastic models. Outline Syllabus includes: Function optimisation. Basic likelihood tools. Fundamental features of modelling.  Model selection. The EM algorithm. Simulation techniques. Generalised linear models.

Credits: 15 credits (7.5 ECTS credits).

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MA772 - Analysis of Variance (15 credits)

Analysis of variance is a fundamentally important method for the statistical analysis of data. It is used widely in biological, medical, psychological, sociological and industrial research when we wish to compare more than two treatments at once. In analysing experimental data, the appropriate form of analysis of variance is determined by the design of the experiment, and we shall therefore discuss some aspects of experimental design in this module. Lectures are supplemented by computing classes which explore the analysis of variance facilities of the statistical package R. Syllabus: One-way ANOVA (fixed effects model); alternative models; least squares estimation; expectations of mean squares; distributional results; ANOVA table; follow-up analysis; multiple comparisons; least significant difference; confidence intervals; contrasts; orthogonal polynomials; checking assumptions; residual plots; Bartlett's test; transformations; one-way ANOVA (random effects model); types of experiment; experimental and observational units; treatment structure; randomisation; replication; blocking; the size of an experiment; two-way ANOVA; the randomised complete block design; two-way layout with interaction; the general linear model; matrix formulation; models of full rank; constraints; motivations for using least squares; properties of estimators; model partitions; extra sum of squares principle; orthogonality; multiple regression; polynomial regression; comparison of regression lines; analysis of covariance; balanced incomplete block designs; Latin square designs; Youden rectangles; factorial experiments; main effects and interactions.

Credits: 15 credits (7.5 ECTS credits).

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MA781 - Practical Multivariate Analysis (15 credits)

This module considers statistical analysis when we observe multiple characteristics on an experimental unit. For example, a sample of students' marks on several exams or the genders, ages and blood pressures of a group of patients. We are particularly interested in understanding the relationships between the characteristics and differences between experimental units. Outline syllabus includes: measure of dependence, principal component analysis, factor analysis, canonical correlation analysis, hypothesis testing, discriminant analysis, clustering, scaling.

Credits: 15 credits (7.5 ECTS credits).

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CB513 - Taxation (30 credits)

A synopsis of the curriculum

The module will aim to cover the following topics:

• The UK tax system including the overall function and purpose of taxation in a modern economy, different types of taxes, principal sources of revenue law and practice, tax avoidance and tax evasion.

• Income tax liabilities including the scope of income tax, income from employment and self-employment, property and investment income, the computation of taxable income and income tax liability, the use of exemptions and reliefs in deferring and minimising income tax liabilities.

• Corporation tax liabilities including the scope of corporation tax, profits chargeable to corporation tax, the computation of corporation tax liability, the use of exemptions and reliefs in deferring and minimising corporation tax liabilities.

• Chargeable gains including the scope of taxation of capital gains, the basic principles of computing gains and losses, gains and losses on the disposal of movable and immovable property, gains and losses on the disposal of shares and securities, the computation of capital gains tax payable by individuals, the use of exemptions and reliefs in deferring and minimising tax liabilities arising on the disposal of capital assets.

• National insurance contributions including the scope of national insurance, class 1 and 1A contributions for employed persons, class 2 and 4 contributions for self-employed persons.

• Value added tax including the scope of VAT, registration requirements, computation of VAT liabilities.

• Inheritance tax and the use of exemptions and reliefs in deferring and minimising inheritance tax liabilities. Introduction to international tax strategy, implementation, compliance and defence. An understanding of principles of normative ethics in business and in taxation from local and global perspectives.

• The obligations of taxpayers and/or their agents including the systems for self-assessment and the making of returns, the time limits for the submission of information, claims and payment of tax, the procedures relating to enquiries, appeals and disputes, penalties for non-compliance.

Credits: 30 credits (15 ECTS credits).

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AC502 - Business Finance (30 credits)

This module begins with a focus on the financial system of the UK, including the major players in the markets and key interrelations. It then proceeds to cover key topics, including: advanced portfolio theory, the capital asset pricing model, arbitrage pricing theory, the implications and empirical evidence relating to the efficient market hypothesis, capital structure and the cost of capital in a taxation environment, interaction of investment and financing decisions, decomposition of risk, options and pricing, risk management, dividends and dividend valuation models, mergers and failures and evaluating financial strategies.

Credits: 30 credits (15 ECTS credits).

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AC504 - Auditing (30 credits)

This module will cover the following topics:

• The historical development of auditing

• The nature, importance, objectives and underlying theory of auditing

• The philosophy, concepts and basic postulates of auditing

• The regulatory and socio-economic environment within which auditing process takes place

• Auditing implications of agency theories of the firm

• Auditing implications of the efficient markets hypothesis

• The statutory and contractual bases of auditing, including auditing regulation and auditors' legal duties and liabilities

• Truth and fairness in financial reporting

• Materiality and audit judgement

• Audit independence

• The nature and causes of the audit expectation gap

• Auditors' professional ethics and standards

• Audit quality control, planning, programming, performance, supervision and review

• The nature and types of audit evidence

• Principles of internal control

• Systems based auditing and the nature and relationship of compliance and substantive testing

• The audit risk model and statistical sampling

• Audit procedures for major classes of assets, liabilities, income and expenditure

• Audit reporting.

Credits: 30 credits (15 ECTS credits).

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CB611 - Futures and Options Markets (30 credits)

This module is concerned with International Investment Banks’ products and strategies that involve the description and analyses of the characteristics of more commonly used financial derivative instruments such as forward and future contracts, swaps, and options involving commodities, interest, and equities markets. Modern financial techniques are used to value financial derivatives. The main emphasis of the module is on how International Investment Banks value, replicate, and arbitrage the financial instruments and how they encourage their clients to use derivative products to implement risk management strategies in the context of corporate applications.

In particular, students will first cover the topics related to forward, futures and swap contracts. They will then be introduced to options and various strategies thereof. Valuing options using Black-Scholes model and binomial trees is also an important part of the module. The important finance concepts of no-arbitrage and risk-neutral valuation and their implications for pricing financial derivatives are also covered in the module. This will help students to learn the techniques used in valuing financial derivatives and hedging risk exposure.

Successful completion of the module will provide a solid base for the student wishing to pursue a career in International Investment Banking and Treasury Management. The students will have the knowledge of essential techniques of risk management and financial derivative trading.

Credits: 30 credits (15 ECTS credits).

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Teaching & Assessment

Teaching is by a combination of lectures and seminars. Modules that involve programming or working with computer software packages usually include practical sessions.

Assessment is by a combination of coursework and examination.  Both Stage 2 and 3 marks count towards your final degree result.

Programme aims

For programme aims and learning outcomes please see the programmes specification for each subject below. Please note that outcomes will depend on your specific module selection:


You acquire many transferable skills including the ability to deal with challenging ideas, to think critically, to write well and to present your ideas clearly, all of which are considered essential by graduate employers.

Recent graduates have gone into careers in accountancy training with firms such as KPMG and Ernst & Young, medical statistics, the pharmaceutical industry, the aerospace industry, software development, teaching, actuarial work, Civil Service statistics, chartered accountancy, the oil industry and postgraduate research.

Professional recognition

The degree provides various exemptions from the examinations of the Institute of Chartered Accountants.

Entry requirements

Home/EU students

The University will consider applications from students offering a wide range of qualifications, typical requirements are listed below, students offering alternative qualifications should contact the Admissions Office for further advice. It is not possible to offer places to all students who meet this typical offer/minimum requirement.

Qualification Typical offer/minimum requirement
A level

AAB including Mathematics grade A (not Use of Mathematics)

Access to HE Diploma

The University of Kent will not necessarily make conditional offers to all access candidates but will continue to assess them on an individual basis. If an offer is made candidates will be required to obtain/pass the overall Access to Higher Education Diploma and may also be required to obtain a proportion of the total level 3 credits and/or credits in particular subjects at merit grade or above.

BTEC Level 3 Extended Diploma (formerly BTEC National Diploma)

The University will consider applicants holding BTEC National Diploma and Extended National Diploma Qualifications (QCF; NQF;OCR) on a case by case basis please contact us via the enquiries tab for further advice on your individual circumstances.

International Baccalaureate

34 points overall or 17 points at HL including Mathematics 6 at HL

International students

The University receives applications from over 140 different nationalities and consequently will consider applications from prospective students offering a wide range of international qualifications. Our International Development Office will be happy to advise prospective students on entry requirements. See our International Student website for further information about our country-specific requirements.

Please note that if you need to increase your level of qualification ready for undergraduate study, the School of Mathematics, Statistics and Actuarial Science offers a foundation year.

Qualification Typical offer/minimum requirement
English Language Requirements

Please see our English language entry requirements web page.

Please note that if you are required to meet an English language condition, we offer a number of pre-sessional courses in English for Academic Purposes through Kent International Pathways.

General entry requirements

Please also see our general entry requirements.


University funding

Kent offers generous financial support schemes to assist eligible undergraduate students during their studies. See our funding page for more details. 

Government funding

You may be eligible for government finance to help pay for the costs of studying. See the Government's student finance website.

The Government has confirmed that EU students applying for university places in the 2017 to 2018 academic year will still have access to student funding support for the duration of their course.


General scholarships

Scholarships are available for excellence in academic performance, sport and music and are awarded on merit. For further information on the range of awards available and to make an application see our scholarships website.

The Kent Scholarship for Academic Excellence

At Kent we recognise, encourage and reward excellence. We have created the Kent Scholarship for Academic Excellence. The scholarship will be awarded to any applicant who achieves a minimum of AAA over three A levels, or the equivalent qualifications as specified on our scholarships pages.

The scholarship is also extended to those who achieve AAB at A level (or specified equivalents) where one of the subjects is either Mathematics or a Modern Foreign Language. Please review the eligibility criteria.

Enquire or order a prospectus


Read our student profiles


Related schools


T: +44 (0)1227 827272


The 2017/18 tuition fees for this programme are:

UK/EU Overseas
Full-time £9250 £13810

Fees for Year Abroad/Industry

As a guide only, UK/EU/International students on an approved year abroad for the full 2017/18 academic year pay an annual fee of £1,350 to Kent for that year. Students studying abroad for less than one academic year will pay full fees according to their fee status. 

Please note that for 2017/18 entrants the University will increase the standard year in industry fee for home/EU/international students to £1,350.

UK/EU fee paying students

The Government has announced changes to allow undergraduate tuition fees to rise in line with inflation from 2017/18.

In accordance with changes announced by the UK Government, we are increasing our 2017/18 regulated full-time tuition fees for new and returning UK/EU fee paying undergraduates from £9,000 to £9,250. The equivalent part-time fees for these courses will also rise from £4,500 to £4,625. This was subject to us satisfying the Government's Teaching Excellence Framework and the access regulator's requirements. This fee will ensure the continued provision of high-quality education.

For students continuing on this programme, fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* If you are uncertain about your fee status please contact information@kent.ac.uk

Key Information Sets

The Key Information Set (KIS) data is compiled by UNISTATS and draws from a variety of sources which includes the National Student Survey and the Higher Education Statistical Agency. The data for assessment and contact hours is compiled from the most populous modules (to the total of 120 credits for an academic session) for this particular degree programme. Depending on module selection, there may be some variation between the KIS data and an individual's experience. For further information on how the KIS data is compiled please see the UNISTATS website.

If you have any queries about a particular programme, please contact information@kent.ac.uk.

The University of Kent makes every effort to ensure that the information contained in its publicity materials is fair and accurate and to provide educational services as described. However, the courses, services and other matters may be subject to change. Full details of our terms and conditions can be found at: www.kent.ac.uk/termsandconditions.

*Where fees are regulated (such as by the Department of Business Innovation and Skills or Research Council UK) they will be increased up to the allowable level.

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The University of Kent, Canterbury, Kent, CT2 7NZ, T: +44 (0)1227 764000

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