Mmath in Financial Mathematics
Brunel University London, United Kingdom
First Year Course Fee
USD 24,489
Course Accredited By
IMA
Mathematics is a fundamental subject that is critical to our understanding of the world. Through the study of mathematics you’ll advance your problem solving skills, develop your reasoning and increase your analytical thinking.
- This is why mathematics forms a basis to so many careers. Yes – it is a discipline in its own right, but it is also the thinking behind countless commercial, industrial and technological activities. Mathematical models underpin engineering, the applied sciences, computing and many aspects of management today.
- With the Financial Mathematics MMath you’ll study for a further year and bring your BSc degree to master’s standard. This means you’ll be able to get that competitive edge when you apply for jobs without having to go through the application process again after Level 3.
- Two-thirds of your course is shared with the MMath in Mathematics. This covers several application areas – finance, statistics, operational research (i.e. how maths can be applied to commercial and industrial problems) and numerical analysis. The remaining third covers the key principles of finance.
- Follow the five-year ‘Professional Placement’ degree programme and you‘ll benefit from our extensive experience in helping students to find well-paid work placements with blue-chip companies. Our sandwich students find that their mathematical and transferable skills are in demand in many sectors, both in the UK and abroad.
- Areas recently offering placements include: accountancy, aviation, banking, defence, finance, insurance, IT (software development, network management and design), management (public and private sector), marketing and telecommunications.
- This programme will meet the educational requirements of the Chartered Mathematician designation, awarded by the Institute of Mathematics and its Applications, when it is followed by subsequent training and experience in employment to obtain equivalent competences to those specified by the Quality Assurance Agency (QAA) for taught master's degrees.
Enrollment Cycles
- September 2023
UK entry requirements
- GCE A-level ABB, including grade A in Mathematics or Further Mathematics.
- BTEC Level 3 Extended Diploma DDM in any subject plus A-level Mathematics or Further Mathematics at grade A.
- BTEC Level 3 Diploma DM in any subject with an A-level Mathematics or Further Mathematics at grade A.
- BTEC Level 3 Subsidiary Diploma M in any subject with A-levels grades AB including Mathematics or Further Mathematics.
- International Baccalaureate Diploma 31 points, including 6 in Higher Level Mathematics.
- Access to Higher Education Diploma Access courses are not accepted for MMaths entry. Access students are encouraged to apply for the BSc degree in this subject and if they achieve sufficient grades on year one of the course they can discuss transferring to the MMath.
- Five GCSEs at grade C or grade 4 and above are also required, to include Maths and English Language.
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)
- Two-thirds of this course is shared with the MMath in Mathematics. This covers several application areas – finance, statistics, operational research (i.e. how maths can be applied to commercial and industrial problems) and numerical analysis. The remaining third covers the key principles of finance. MMath students study a year further than BSc students, bringing their degree up to master’s level.
- In Level 2 you’ll be learning through lectures, seminars and in computer labs, and an individual piece of course-work will account for one third of Level 3. You’ll be able to select from a large number of projects covering a wide range of mathematical areas and applications. Your project will be supervised by a staff member. You’ll emphasise real applications or abstract theories, using theoretical and/or computational tools. If you’ve completed a placement you will be able to choose a project associated with your work experience. Examples of project titles are:
- The very famous 'travelling salesman problem' (also known as 'the lazy waiter'!)
- The discovery and identification of clustering behaviour in financial markets
- The mathematics of complex networks such as the web, or even Facebook
- Applications of statistics to the Premier League, police complaints data and global warming
- Investigating traffic flow (are traffic lights better than roundabouts?)
- You’ll also have the opportunity to study modern theories in quantitative finance, with particular emphasis on the maths and computation underlying the powerful and influential financial derivatives (e.g. options) industry. Often termed the ‘Black-Scholes theory’, this is famous for winning its discoverers a Nobel prize, as well as for its misapplication often being blamed (rightly or wrongly) for the current worldwide financial crisis.
- In your master’s year (this is your final year of the programme and called Level 5), you’ll have the chance to build upon your Level 3 project and to specialise in areas of mathematics that particularly interest you.
- This course can be studied 4 years full-time or 5 years full-time with placement, starting in September.
Year 1
Compulsory
- MA1611 - Calculus
- MA1612 - Fundamentals of Mathematics
- MA1620 - Linear Algebra
- MA1664 - Elements of Applied Mathematics
- MA1670 - Probability and Statistics I
- MA1691 - Programming and Mathematical Projects
Year 2
Compulsory
- MA2612 - Multivariable Calculus
- MA2647 - Mathematics of Deep Learning
- MA2668 - Elements of Investment Mathematics
- MA2670 - Probability and Statistics II
- MA2682 - Discrete Mathematics and Operational Research
- MA2690 - Professional Development and Project Work
Year 3
Compulsory
- MA3667 - Mathematical Finance
- MA3686 - Risk and Optimisation for Financial Planning
- MA3996 - Financial Mathematics Final Year Project
Optional
- MA3610 - Ordinary and Partial Differential Equations
- MA3650 - Numerical Methods for Differential Equations
- MA3670 - Statistics III
- MA3676 - Stochastic Models
Year 4
Compulsory
- MA5614 - Probability and Stochastics
- MA5624 - Option Pricing Theory
- MA5640 - Research Methods and Case Studies
- MA5691 - Advanced Project
Optional
- MA5616 - Financial Computing I
- MA5619 - Advanced Mathematical Methods
- MA5621 - Interest Rate Theory
- MA5663 - Fundamentals of Machine Learning
- MA5665 - Cryptocurrencies and Blockchain Technology
- MA5675 - Network Models
- MA5676 - Time Series Modelling
- UK
- £9,250 full-time
- £1,385 placement year
- £3,000 fee reduction in final year Fees quoted are per year and may be subject to an annual increase. Home undergraduate student fees are regulated and are currently capped at £9,250 per year; any changes will be subject to changes in government policy.
- 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.