Overview

Who is it for?

To successfully complete this course, you must have a very good understanding of mathematics. You may well have studied maths, physics or engineering degrees as an undergraduate.

Or you might have a bachelor’s degree in economics or science and in particular computer science, which, coupled with your interest in stochastics, could also qualify you for this programme.

You should have a general interest in learning the more technical and mathematical techniques used in financial markets; but you don’t need to have a background in finance.

Objectives

The MSc Financial Mathematics focuses on stochastics and simulation techniques, but also covers some econometrics. You’ll study core modules covering asset pricing, risk management and an introduction to key financial securities such as equities, fixed income and derivatives.

You’ll cover a wide range of elementary and advanced topics in stochastics, including Levy processes and different simulation techniques. You’ll be taught Matlab and VBA and you have the opportunity to learn other programming languages as part of our electives offering, such as Python or C++.

There are three ways to complete the third term. Either you’ll choose five electives from around 40 optional modules in your final term. Or you can choose to complete a traditional dissertation, known as a ‘business research project’, which counts for four electives, or a shorter ‘applied research project’, which is the equivalent of two elective modules.

Structure

  • You will have gained a very good understanding of the technical aspects used in financial markets, including wide ranging financial theory and different financial assets.
  • You will gain a good understanding of stochastic and mathematical finance and gained some knowledge of econometrics and forecasting. You will also have obtained a good understanding of programming, in particular Matlab.
  • From the MSc Financial Mathematics you will also understand how the theory is being applied in the financial industry and what practical issues are.
  • In the third term you have three different options how you can complete your MSc, including a project or choosing only electives. Popular electives include Modelling and Data Analysis, Advanced Financial Engineering and Credit Derivatives, Credit Risk Management, Quantitative Risk Management. Introduction to Python.

Assessment methods

Assessment

We review all our courses regularly to keep them up-to-date on issues of both theory and practice.

To satisfy the requirements of the degree course students must complete:

  • nine core courses (Eight at 15 credits each, one at 10 credits)

and either

  • five electives (10 credits each)
  • three electives (10 credits each) and an Applied Research Project (20 credits)
  • one elective (10 credits) and a Business Research Project (40 credits)

Assessment of modules on the MSc in Financial Mathematics, in most cases, is by means of coursework and unseen examination. Coursework may consist of standard essays, individual and group presentations, group reports, classwork, unseen tests and problem sets. Please note that any group work may include an element of peer assessment.

Two Induction Weeks

The Financial Mathematics course starts with two compulsory induction weeks, focused on:

  • an introduction to careers in finance and the opportunity to speak to representatives from over 75 companies during a number of different industry specific fairs.
  • a reminder course of advanced financial mathematics, statistics and basic computing which forms a prerequisite of the core modules in term 1.

Term dates

Term dates 2018/19

In-Person ID-Checks (all students must attend): Commences 17 September 2018

Compulsory Induction: 18 - 29 September 2018

Term I
1 October 2018 - 7 December 2018
Term I exams
7 January 2019 - 18 January 2019

Term II
21 January 2019 - 29 March 2019
Term II exams
22 April 2019 - 3 May 2019

Term III
6 May 2019 - 28 June 2019
Term III exams
1 July 2019 - 12 July 2019

Resit period
Students who are required to resit an examination or invigilated test  will do so in the period:
12 - 30 August 2019

Submission deadline for Business Research Project or Applied Research Project 
1 September 2019

Official Course End Date
30 September 2019

Teaching staff

Course Director

Course director profile

Dr Dirk Nitzsche

Senior Lecturer in Finance

The teaching staff on the MSc in Financial Mathematics have many years of practical experience working in the financial services sector and are also active researchers in their fields

This knowledge and experience inform the highly interactive lectures that make up the MSc in Financial Mathematics.

Module Leaders include:

Application

How to apply

Documents required for decision-making

  • Transcript/interim transcript
  • Current module list if still studying
  • CV
  • Personal statement (500-600 words)

Documents which may follow at a later date

  • IELTS result
  • Confirmation of professional qualification examinations/exemptions/passes, if applicable
  • Two references
  • Work experience is not a requirement of this course
  • For a successful application to receive an unconditional status all documents must be verified, so an original or certified copy of the degree transcript must be sent by post to Specialist Masters Programme Office, 106 Bunhill Row, London, EC1Y 8TZ, UK

We cannot comment on individual eligibility before you apply and we can only process your application once it is fully complete, with all requested information received.

Individual Appointments

If you would like to visit us to discuss your application please do arrange an individual appointment.

Entry requirements

A UK upper second class degree or above, or the equivalent from an overseas institution.

Your academic background should be in a highly quantitative subject such as mathematics, physics, engineering, economics or computer science and having covered areas such as statistics, linear algebra and calculus.

English language requirements

If you have been studying in the UK for the last three years it is unlikely that you will have to take the test.

If you have studied a 2+2 degree with just two years in the UK you will be required to provide IELTS results and possibly to resit the tests to meet our requirements.

IELTS

The required IELTS level is an average of 7.0 with a minimum of 6.5 in the writing section and no less than 6.0 in any other section.

Read more

Please note that due to changes in the UKVI's list of SELTs we are no longer able to accept TOEFL as evidence of English language for students who require a CAS as of April 2014.

Fees

UK/EU/International £25,000 Tuition fees are subject to annual change

Deposit: £2,000 (paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met)

First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the in-person ID–checks)
Second installment: Half fees (paid in January following start of course)

Information about Scholarships

Career pathways

The job opportunities for students from the three quants Masters programmes are very similar and students usually find employment with either large investment banks, or smaller specialist companies or financial boutique firms. Working as a quantitative analysts using stochastic, technical risk management position, pricing fixed income securities and structuring are some of the positions Financial Mathematics students are well qualified for. You will also have the skills to study for a PhD in the area of quantitative finance and financial markets.

Course information and statistics

Man
24
average age of student body
Search
6
applications received per place available
Globe
10
nationalities in 17/18 cohort
Diploma/ certificate
7.0
average IELTS score for 17/18 cohort