Financial mathematics builds on the application of advanced concepts in modern probability theory to enable market professionals to tackle and systematically resolve a huge range of issues in the areas of pricing, hedging, risk management, and market regulation.
On this course you’ll put theory into practice by developing your numerical and computational skills to implement financial models. These are the skills you’ll need to work for a financial institution.
The course has an emphasis on:
The modelling of the dynamics of financial assets, both in equity markets and in fixed-income markets
The pricing and hedging of options and other derivatives
The quantification and management of financial risk.
The course will give you a balanced mixture of advanced mathematics (including modern probability theory and stochastic calculus), modern finance theory (including models for derivatives, interest rates, foreign exchange, equities, commodities, and credit), and computational technique (GPU-based high-performance computing).
Enrollment Cycles
September 2024
Entry Requirements
UK entry requirements
A 2:2 (or above) UK Honours degree, or equivalent internationally recognised qualification, in Mathematics.
Applications from candidates with degrees in Engineering, Economics, Mathematical Biology with Maths, Calculus and Algebra modules with B Grade or above in the modules overall.
Other qualifications with relevant work experience may also be considered.
EU and International entry requirements
If you require a Tier 4 visa to study in the UK, you must prove knowledge of the English language so that we can issue you a Certificate of Acceptance for Study (CAS). To do this, you will need an IELTS for UKVI or Trinity SELT test pass gained from a test centre approved by UK Visas and Immigration (UKVI) and on the Secure English Language Testing (SELT) list. This must have been taken and passed within two years from the date the CAS is made.
English language requirements
IELTS: 6 (min 5.5 in all areas)
Pearson: 59 (59 in all sub scores)
BrunELT: 58% (min 55% in all areas)
TOEFL: 79 (min R18, L17, S20, W17)
The programme offers six compulsory modules, taken by all, along with three elective modules from which you choose two modules. There are lectures, examinations and coursework in eight modules altogether, including the six compulsory modules. Additionally, all students complete an individual research project on a selected topic in financial mathematics, leading to the submission of a dissertation.
We aim to teach the key ideas in financial asset pricing theory from a modern perspective, using concepts and methods such as pricing kernels, market information filtrations, and martingale techniques. This replaces the more traditional but old-fashioned approach based on the historical development of the subject. At each stage of the course you’ll undertake a critical re-examination of the hypotheses implicit in any financial model, with a view to gaining a clear grasp of both its strengths and its limitations. You’ll learn high-performance computing and the techniques to implement financial models.
Compulsory modules
Computer Intensive Statistical Methods
Financial Markets
Interest Rate Theory
Option Pricing Theory
Probability and Stochastics
Research Methods and Case Studies
Dissertation
Optional modules
Cryptocurrencies and Blockchain Technology
Fundamentals of Machine Learning
Time Series Modelling
This course can be studied 1 year full-time, starting in September.
Year 1 Compulsory
MA5602 - Probability and Stochastics
MA5603 - Financial Markets
MA5604 - Option Pricing Theory
MA5606 - Interest Rate Theory
MA5627 - Research Methods and Case Studies
MA5632 - Computer Intensive Statistical Methods
MA5600 - Financial Mathematics Dissertation
Optional
MA5629 - Time Series Modelling
MA5634 - Fundamentals of Machine Learning
MA5635 - Cryptocurrencies and Blockchain Technology
