2020 Summer Research Internships
Programme Update: Unfortunately this year's Internship programme has been cancelled , the programme will return in the summer of 2021, more details to follow.
The internships will run over the summer,me as a module, on our Liverpool campus. This year it will run from 1st June to 10th July, 2020 (6 weeks in total).
Students will be working in groups of 4-5 and will be supervised on a daily bais by PhD students and academics from the Department of Mathematical Sciences.
Students will work 20 hours a week: 4 days a week (Monday-Thursday), 5 hours per day, on campus.
Industry partners will provide a question, usually around the analysis of a data set, with the goal of signalling potential problems and/or providing risk management solutions.
The industry partners meet with the students at the beginning of the project and stay involved throughout; they also attend the presentations event at the end of the projects.
Each group prepares a written report of their findings and this is given to the company.
Presentations of the results will take place on the Thursday 9th July, 2020 in a workshop attended by academics and industry partners.
We started these Internships in the summer of 2013, with 8 students, last summer we had 53 students and this year we have had over 160 applicants from Liverpool and North America - for the first time this year we will be taking overseas students.
Companies we have worked with (in alphabetical order)
- Azur - underwriting
- Barnett Waddingham - actuarial consulting
- Charles Oddy - investments
- Deloitte - consulting
- Eddie Stobart -logistic
- Innovative microfinance, Ghana - microfinance company
- Mitsubizhi Bank - finance
- Moody's Analytics - pensions
- Onward - properties management
- LCP - actuarial consulting
- Regulatory office, Egypt - car insurance
- SatSafe - GPS manufacturer
- Stable - agricultural indexes
- William Stobart - logistic
2019 Summer Research Internships
A cohort of 2nd year financial mathematics undergraduate students have succesfully completed a six week internship programme at the University of Liverpool in London campus working on real-world problems posed by industry partners.
Thank you to all the participating undergraduate, graduate and PhD students, and the academic staff from the Institute for Financial and Actuarial Mathematics. Thanks also to our industry partners including Onward Homes, Innovative Microfinance Ghana, Mitsubishi Bank, Stable, Azur, WS Transportation, Lane Clark & Peacock and Moody's analytics.
The students worked in small groups in collaboration with our industry partners and culminated in a presentation of their findings at a celebration event on 25th July held at the University of Liverpool in London campus attended by staff from the department of Mathematical Sciences and the industrial collaborators.
- Predictive Analytics Project - Income (Onward Homes, UK)
- Predictive Analytics Project - Repairs (Onward Homes, UK)
- Linear versus Non-linear Swaption Market Dynamics (Mitsubishi Bank, UK)
- Probability of Default in Micro-lending (Innovative Microfinance, Ghana)
- Assessment of Mortality Differences in China (Industry supervisor from Moody's analytics, UK)
- Price Elasticity (Azur, UK)
- Hedging Opportunities from Forward-looking Markets (Stable, UK)
- Trading Simulation with HPC (Stable, UK)
- Miles per Hour analysis (WS Transportation, UK)
- Car Insurance Pricing (Insurance data from the Egyptian market, Egypt)
- Are Electric Cars Really More Environmentally Friendly than Petrol and Diesel? (Industry supervisor from Lane Clark & Peacock, UK)
See our tweets from the Summer 2019 project: https://twitter.com/i/events/1142387314347446272
2018 Summer Research Internships
University of Liverpool undergraduate mathematics students worked for six weeks trying to answer real-world problems, posed by industry partners.
In this short film they speak about their experience of the programme and what they have learnt. The film was made on the day they presented their results at our London campus.
Thank you to all the participating undergraduate, graduate and PhD students, and the academic staff from the Institute of Financial and Actuarial Mathematics. Thanks also to our industry partners including Aspen, Barnett-Waddingham, Charles Oddy, Deloitte, Eddie Stobart, Innovative Microfinance Ghana, SatSafe and William Stobart.
See our tweets from the Summer 2018 project: https://twitter.com/i/events/1000322710034141184
Follow the link below to read an article about the Summer 2018 project that appeared in The Actuary
2017 Internship (current research topic)
The 2017 summer research internship saw 4, second-year UG students looking at micro-scale modelling of drug transport, for instance the spread of a paracetamol in a human body, emphasising the role of the cell’s membranes. The mathematics behind it involved diffusion processes and partial differential equations (pde) with various boundary conditions.
Here is what the 2017 Summer Research Interns have to say about the work they achieved and their experience:
Philip (Junyingjie Bao):
Our task was to simulate the drug transport process across membranes using Biological Mathematics. During this process, Joe helped us construct the foundations for this topic and directed us as to how to proceed with the smaller details. Through this internship, I learned about how academic research is conducted. Although it was challenging, I really enjoyed this period of time working in group and solving scientific problems.
Cissy (Jinkun Xing):
I was amazed by the scope of micro-scale modelling. It can use multiple models simultaneously, focusing on different scales to describe the dynamics of a system. We focused on the impact of the membrane on drug transport kinetics. In this research, I, together with the three other interns, employed micro-scale modelling to simulate the drug diffusion process from the release point to the interior of the recipient cells. After reviewing a large volume of literature, we simplified the process into one-dimensional partial differential equations. Using MATLAB, Joe taught us bit by bit how to use pdepe to solve the three partial differential equations and employed MATLAB to draw the GIF of drug diffusion.
I enjoyed the process of modelling the biological problems using mathematics to contribute to the study of drug transport and the treatment of patients. The work experience with Joe was beneficial; we learned to use pdepe in MATLAB and to design algorithms to show different patterns of GIFs according to different values of parameters. It was rewarding to spend a vacation doing meaningful research
Apple (Xiaoshuo Cui):
The experience with the Healthcare group was a really in depth process with lots of programming and mathematical equations. We learned specific knowledge required to solve diffusion equations with various boundary conditions. Enhancing our technical skills, we used MATLAB to present the biological processes using graphs. It was a practical experience which closely related biological transport processes with mathematics. The internship was invaluable to me because we successfully utilized the tools of mathematics to solve a real and practical problem in Medicine and Biology, allowing me to realise the amazing applied side of mathematics; I was able to put what I have learnt during classes into practice.
We all appreciated this experience all the more because of Joe, an excellent PhD student who was very patient and always willing to answer our questions. He was always there to help and and pushed us to go further on the topic.
Floyd (Renfei Huang):
The precious time spent with so many excellent students and doctors was short but unforgettable. During the one-month period, we all shared our knowledge and studied multiscale modelling. It was worth the hard work and all the final presentations were carried out brilliantly. It was the most wonderful learning experience I have ever had!
2017 Internship (with Liverpool Businesses)
During these internships, students answer real-work questions and see mathematical theory applied in practice. Currently in it's fifth year, these internships are led by our IFAM academics and their PhD students in cooperation with Liverpool business partners, aiming to assess some of the risk they are facing in the ever changing economic landscape. Students work on providing methods, data analysis or risk management solutions varying from strategic planning recommendations to personalised insurance.
The 2017 summer business internship saw students working with Charles Oddy on enterprise risk management, with SatSafe on pricing drivers behaviour, with Eddie Stobart on networks optimization, and with Barnett Waddingham in analyzing non-financial risks of universities.
Prof. Kurt Langfeld, Head of Department of Mathematical Sciences explains “our students experience is of paramount importance for our department. Partnering with our UG students and Liverpool businesses in research is not only a success story for our Department and our university, but also for the city of Liverpool.”
Hear what the internship business partners have to say about the students taking part:
Charles Oddy, ERM, CERA, says “this was the second summer I worked alongside University of Liverpool students and academics and I am impressed by their enthusiasm and professionalism. The students work as real ambassadors of the university”.
Stuart Millward, CEO of SatSafe Technologies, "Working with the students on this project was an absolute privilege and the quality of work was testament to the extremely high standards of Liverpool University's Department of Mathematical Sciences"