MSc in Mathematics and Finance

Applications

Applications for 2019 will open in mid-November 2018. Apply here.


The course

A one-year (full-time), two-year (part-time) MSc programme, designed to prepare students for a wide range of careers in quantitative finance and risk management.

Mathematical finance is a subject that is both mathematically challenging and deployed every day by sophisticated practitioners in the financial markets. Our objective is to provide you with everything you need to get into this area at a level where you can understand–and contribute to–industry practice and the latest research.

Our intake consists mainly of recent graduates in mathematical sciences and engineering seeking positions in the financial services sector. However, we welcome applications from candidates already in employment in that area who want to upgrade various aspects of their mathematical and financial expertise and expand their portfolio of skills. We usually recruit a small number of students each year from this category who fulfil our academic requirements.

Further information

Programme overview

Theoretical modules

Candidates reading for the MSc in Mathematics and Finance follow seven compulsory core modules, and choose another three from a menu of elective modules offered in autumn and spring terms. The modules cover fundamental mathematics, finance and economic background, scientific computing and statistical methodology. The summer period is devoted to the project.


Project and placements

A supervised thesis project takes place during the summer months after the theoretical modules have been completed. Students who have achieved an acceptable level of academic competence will be offered as candidates to external sponsors. These industry-based placements take place in banks, consultancies, hedge funds, insurance companies, rating agencies, or financial software companies. Each project is normally based on new areas of possible interest to the sponsor, or extensions to existing lines of work. An academic supervisor and the sponsor work with the student to scope out the project at the start; supervision is a joint activity between the former two. Undertaking the project on site gives students a genuine insight into the reality of the financial marketplace.


Programming in C++

We regard it as essential that students become proficient in object-oriented programming. The computing environment at the college is based on wireless networking. Students must equip themselves, at their own expense, with a laptop running Windows. We will supply the software you need: Microsoft Visual Studio, Microsoft Office and Matlab, a software environment for scientific computing. The teaching in programming stretches over the autumn and spring terms and consists of lectures, laboratory sessions and a series of graded exercises which must be submitted.


Recommended reading and further information

To find out more about the course, including pre-course reading course handbooks, timetables, information on careers support offered and social events, please see the current student pages.

The part-time option

The MSc in Mathematics and Finance can be taken on a part-time basis. Students attend the same lectures as those taking the degree full-time. The courses are spread more or less evenly over two years, instead of one, and the project is taken in the second year. There is a need to attend lectures on about three days a week. Considerable flexibility is needed by those in full-time employment who pursue this option. A typical sample schedule would look like this:

Year 1

Autumn Term
  • Stochastic Processes
  • Mathematical Finance: Introduction to Option Pricing Theory
  • Computing in C++ I: Programming in C
  • Theory of Finance
Spring Term
  • Advanced Methods in Derivatives Pricing
  • Interest Rate Modelling
  • Programming in C++ II: Object oriented programming
  • Electives, from the list of Elective Modules

Year 2

Autumn Term
Spring Term

Summer Period