MSc in Financial Mathematics
Brunel University London, United Kingdom
Total Course Fee
USD 27,201
Course Accredited By
NA
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 2023
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
- UK
- £10,750 full-time
- Fees quoted are per year and are subject to an annual increase.
- Fees for EU applicants – For entry in 2021/22 academic year, eligible EU applicants will have the same tuition fees as UK students to support EU students during this transition period. These fees will be applied for the duration of the course. EU fees for 2022 entry are not yet confirmed.