Group of students

Duration: 1 year full-time or 2 years part-time
Start date: October 2016
LocationSouth Kensington
ECTS: 90 credits

This course is designed to prepare students for a wide range of careers in quantitative finance and risk management. 

About the course

Overview

Mathematical finance is a subject that is both mathematically challenging and deployed every day by sophisticated practitioners in the financial markets.

This course aims 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. To do this, the modules we offer are orientated in different ways. Some give the necessary finance and economics background; others provide instruction in fundamental mathematics (stochastic analysis, partial differential equations, etc.).

Scientific computing (object-orientated programming in C++) is an integral part of the programme.

Structure

Modules shown are for the current academic year, and are subject to change depending on your year of entry.

This course may be taken full- or part-time. It introduces you to the more mathematical areas of asset pricing theory and financial risk management.

Four of the eight lecture modules and the C++ module are compulsory. You choose the remaining four from the wide choice of options offered by the Department of Mathematics.

A supervised thesis project, lasting four months, takes place towards the end of the programme. Our intention is that most projects will be carried out in association with a bank, finance house, hedge fund, consultancy, or systems provider in the finance industry, and we endeavour to arrange suitable placements.

The project may be an internship, where you work full-time for 3 months or so, or a collaborative arrangement where you work at College and visit the company on a regular basis to discuss the project.

Whichever route you choose, you will be assigned an academic project supervisor who will be a member of staff of the Department of Mathematics.

Core modules
  • Stochastic Processes
  • Theory of Finance
  • Mathematical Finance: an introduction to Option Pricing Theory
  • Computing in C++ I: Programming in C
  • Advanced Methods in Derivatives Pricing
  • Quantitative Risk Management
  • Interest Rate Models
  • Computing in C++ II: Object oriented programming
Optional modules
  • Statistical Methods in Finance
  • Fixed Income Markets
  • Advanced Credit Risk Modelling
  • Simulation Methods for Finance
  • Lévy Processes: Theory and Applications
  • Advanced Methods in Volatility Modelling
  • Numerical Methods for Finance

Entry requirements

Minimum academic requirement

High 2.1 Honours degree in mathematics in a physical science with a strong mathematical content, i.e. several mathematics modules with an emphasis on analysis, probability theory and differential equations.

International qualifications

The academic requirement above is for applicants who hold or who are working towards a UK qualification.

We also accept a wide variety of international qualifications. For guidance see our Country Index though please note that the standards listed here are the minimum for entry to the College.

If you have any questions about admissions and the standard required for the qualification you hold or are currently studying for then please contact the relevant admissions team.

English language requirements

All candidates must demonstrate a minimum level of English language proficiency for admission to the College.

For admission to this course, you must achieve the standard College requirement in the appropriate English language qualification. For details of the minimum grades required to achieve this requirement, please see the English language requirements for postgraduate applicants.

Fees and funding

Home and EU students

2016 entry:
  • £28,800 full-time
  • £14,400 per year part-time*

Islands and overseas students

2016 entry:
  • £28,800 full-time
  • £14,400 per year part-time*

*Please note that if you are studying this course part time, the fee beyond the first year will increase by an inflationary amount.

Government funding

The level of tuition fees you pay is based on your fee status, which we assess based on UK government legislation.

If you are a Home or EU student who meets certain criteria, you can apply for a Postgraduate Master’s Loan of up to £10,000 from the UK government for programmes beginning in October 2016. The loan is not means-tested, and you can choose whether to put it towards your tuition fees or living costs. 

Funding from Imperial

Scholarships

We offer a range of scholarships for postgraduate students to support you through your studies. Try our scholarships search tool to see what you might be eligible for.

For more information on the Postgraduate Master's Loan scheme and other funding opportunities that are available, please visit our Fees and Funding website.

How to apply

All applicants must apply online.

You can usually apply for up to two courses, although your second choice will only be considered if your first-choice application is unsuccessful.

Most courses don't have a formal closing date, but popular courses close when they are full, so you should apply early to avoid disappointment. There may also be funding deadlines that apply to you.

You will need to upload documents with your applications, which may include transcripts and degree certificates.

Offer holders will need to pay a deposit to secure your place. This will be deducted from the balance of your tuition fees.

For full details on the online application process, or to start your application, please visit the How to Apply section of our website.

ATAS Certificate

An ATAS certificate is not required for overseas students applying for this course.

Further information

Find out more about the MSc in Mathematics and Finance, including more detailed course content.